Company Profile Yuanta Savings Bank Philippines, Inc. (the Bank) was formerly known as TONGYANG Savings Bank, Inc. It was formally registered in the Securities and Exchange Commission (SEC) in 1 August 1997 and was granted its thrift bank license by the Bangko Sentral ng Pilipinas on 24 October 1997. The Bank started its commercial operations on 5 November 1997. To further expand its banking operations, the Bangko Sentral ng Pilipinas granted the Bank its Foreign Currency Deposit Unit (FCDU) License on 14 June 2007 giving the Bank the authority to accept foreign currency deposits. On 9 May 2008, the Bank opened its first branch strategically located in Madrigal Business Park, Alabang, Muntinlupa City.(Closed last August 31, 2020), the Bank opened its second branch located in Ortigas Center, Pasig City (Closed last April 30, 2020). On 5 August 2015, Yuanta Savings Bank becomes a wholly owned subsidiary of Yuanta Commercial Bank in Taiwan, a company under the umbrella of Yuanta Financial Holdings due to its acquisition of the 100% equity shares of the Bank from Yuanta Securities Korea Co., Ltd (formerly: TONGYANG Securities, Inc.). On 18 July 2016, the SEC approved the change of its name from TONGYANG Savings Bank, Inc. to Yuanta Savings Bank Philippines, Inc.