Rakuten Bank Taiwan Commences Operations

Rakuten, Inc. (Rakuten), a Japanese electronic commerce and online retailing company, today announced that the Rakuten International Commercial Bank Co Ltd (known as Rakuten Bank Taiwan), a joint-venture of Rakuten and IBF Financial Holdings, has started business activities. 

Rakuten Bank Taiwan has completed its registration of establishment on May 18, 2020, after obtaining a business license. Hiroshi Mikitani tooks the role of its Chairman and CEO. 

The Financial Supervisory Commission, which is the financial supervisory authority of Taiwan, granted necessary approvals to Rakuten Bank Taiwan on July 30, 2019. Since than, IBF Financial Holdings, Rakuten Bank, Ltd. and Rakuten Card Co., Ltd., the wholly owned subsidiaries of Rakuten, have been preparing for the commencement of the business activities.