TAIPEI (Taiwan News) — The Financial Supervisory Commission said First Bank's managed assets reached NT$238.1 billion (US$7.94 billion) in February.

According to the commission, Taiwan has 12 banks offering asset management services. First Bank has led the market for five consecutive months, managing assets for 2,218 clients, per CNA.

CTBC Bank ranked second with NT$223 billion in assets under management and 2,234 clients. Mega International Commercial Bank followed in third place, managing NT$215.8 billion in assets with 1,786 clients.

The commission said Taiwan banks manage assets for 12,617 clients, with total assets of NT$1.48 trillion. The banks allocate their assets as follows: 45.9% deposits, 15.5% investment funds, 13.8% bonds, 11.4% insurance, and 6.6% foreign stocks or currencies.

Banking Bureau Deputy Director-General Hou Li-yang (侯立洋) said the commission opened applications in August 2020 for banks to manage client assets exceeding NT$100 million. As of February, 14 banks in Taiwan had been approved for the service, while Standard Chartered Bank and Taishin International Bank have yet to launch the offering.

The commission also said eight securities firms in Taiwan were approved to offer asset management services. Since the service launched, total asset management value reached NT$286.3 billion, a 74% year-over-year increase, while the number of clients grew to 1,195, a 38% year-over-year increase.

Securities and Futures Bureau Deputy Director-General Huang Hou-ming (黃厚銘) said most securities firms manage wealth for clients by buying and selling foreign securities. Driven by an optimistic outlook for global stock markets, the total transaction value for this type of investing reached NT$249.6 billion.

SinoPac Securities ranked first in asset management, overseeing NT$150.6 billion with 486 clients. Cathay Securities ranked second, with NT$69.3 billion in assets and 206 clients, while Mega Securities ranked third with NT$32.7 billion in assets and 204 clients.