The ratings on Taipei Fubon Commercial Bank Co. Ltd. (Taipei Fubon Bank) reflect the bank's strong funding and liquidity profile, good asset quality, good capitalization, and implicit support from the Fubon Financial Holding Co. Ltd. (Fubon FHC; BBB+/Watch Neg/A-2) group. Counterbalancing factors include the bank's moderate profitability and expansion challenges. Taipei Fubon Bank is a core subsidiary of the Fubon FHC group, one of the largest financial groups in Taiwan. The bank fits well into the group's strategic direction to provide one-stop shopping services to the group's wide customer base. Taipei Fubon Bank is highly integrated with other group members, particularly with Fubon Securities Co. Ltd. and Fubon Life Insurance Co. Ltd., in various areas including business development, risk management,
