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Taiwanese commercial bank affiliated with the Ruentex Group, offering retail and corporate banking.
Taiwanese commercial bank affiliated with the Ruentex Group, offering retail and corporate banking.
Earns the gap between interest on loans and the cost of deposits, with fees from credit cards and wealth management on top. The Ruentex group, a Taiwanese retail, property and textile conglomerate, is its anchor shareholder.
Moat: narrow (regulatory licence, distribution). Nationwide branch network and ties to the Ruentex retail/industrial conglomerate.
Headquarters: Taipei, Taiwan · Founded: 1992
Size Union Bank of Taiwan (2838.TW) is a Taiwan Financials company (Regional Banks) with a market value of $2.75B, the 135th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$19.70 on 6 Nov 2026.
Performance Over six months the shares gained 2.1%, against +1.8% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 8.9% over the last twelve months (peer median +0.9%); the operating margin is 36.5% (peer median 36.8%).
Valuation It trades at 1.06× book value against a peer median of 1.05× (11th cheapest of 21).
Price implies The share price implies a return on equity of about 3.7%; Union Bank of Taiwan delivers 8.5%, so the price asks less than the business earns today.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$37.5B | NT$38.8B | NT$34.2B | NT$33.0B | NT$24.5B |
| Revenue growth | — | +14% | +3% | +35% | — |
| Net income | NT$7.06B | NT$6.10B | NT$5.22B | NT$4.32B | NT$3.54B |
| Free cash flow | -NT$12.7B | -NT$7.26B | -NT$3.89B | -NT$7.03B | NT$2.74B |
| Capital expenditure | -NT$2.31B | NT$3.24B | NT$3.15B | NT$4.89B | NT$4.39B |
| Total debt | NT$109B | NT$124B | NT$96.5B | NT$94.9B | NT$59.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Union Bank of Taiwan 2838.TW | $2.75B | +2% | -9% | 8% | 1.06× | 3.7% |
| Taichung Commercial Bank 2812.TW | $3.38B | -12% | -13% | 11% | 1.16× | 3.9% |
| Ts Financial 2887.TW | $29.2B | +62% | +200% | 15% | 1.38× | 5.9% |
| Yuanta Financial Holding Co. Lt 2885.TW | $28.1B | +28% | +78% | 16% | 2.42× | 11.9% |
| Hua Nan Financial 2880.TW | $20.8B | +50% | -37% | 14% | 2.85× | 7.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2838.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.5% | +0.1% | 6th lowest of 21 |
| 6-month return | +2.1% | +1.8% | 11th highest of 21 |
| Return on equity | 8.5% | 9.5% | 9th lowest of 21 |
| Price / book | 1.06× | 1.05× | 11th cheapest of 21 |
| Trailing P/E | 14.1× | 11.3× | 6th most expensive of 19 |
| ROE the price implies | 3.7% | 8.1% | 3rd least demanding of 18 |
| ROE delivered | 8.5% | 9.9% | 8th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Union Bank of Taiwan 2838.TW | Taiwan | $2.75B | +2% | -9% | 8% | 1.06× | 3.7% | 8.5% |
| Bank of Hawaii BOH | United States | $2.73B | -13% | +1% | 14% | 1.84× | 13.0% | 13.6% |
| Suruga Bank 8358.T | Japan | $2.73B | +10% | +13% | 14% | 1.32× | 8.2% | 13.7% |
| Weihai Bank 9677.HK | Hong Kong | $2.70B | +5% | +6% | 9% | 0.64× | 4.5% | 9.2% |
| First Bancorp FBNC | United States | $2.67B | +10% | +14% | 10% | 1.56× | 12.2% | 9.9% |
| Xiamen Bank 601187.SS | China | $2.67B | -13% | 0% | 10% | 0.63× | 3.2% | 10.0% |
| Customers Bancorp CUBI | United States | $2.82B | +10% | +8% | 14% | 1.29× | 14.7% | 13.6% |
| Banc of California BANC | United States | $2.86B | -6% | -14% | 0% | 1.00× | 8.6% | -0.3% |
| Dongguan Rural Commercial Bank 9889.HK | Hong Kong | $2.63B | -14% | 0% | 7% | 0.29× | 3.7% | 6.6% |
| BNK Financial 138930.KS | South Korea | $2.88B | -31% | +10% | 8% | 0.39× | 4.1% | n/a |
| Trustmark TRMK | United States | $2.58B | 0% | -4% | 11% | 1.25× | 9.6% | 11.2% |
| Valiant VATN.SW | Switzerland | $2.93B | -9% | -11% | 6% | 0.86× | n/a | 5.8% |
| Beacon Financial BBT | United States | $2.57B | +6% | +74% | 9% | 1.02× | 7.9% | 9.1% |
| Banner BANR | United States | $2.55B | +7% | +2% | 10% | 1.20× | 10.1% | 10.0% |
| North Pacific Bank 8524.T | Japan | $2.50B | +8% | +25% | 7% | 1.02× | 8.1% | 7.1% |
| Cembra Money Bank CMBN.SW | Switzerland | $3.03B | -9% | -3% | 15% | 1.93× | 4.1% | 14.7% |
| First Hawaiian FHB | United States | $3.04B | -9% | +1% | 10% | 1.08× | 9.3% | 9.9% |
| Qingdao Rural Commercial Bank 002958.SZ | China | $2.47B | -2% | -9% | 8% | 0.41× | 2.5% | 7.9% |
| Stock Yards Bancorp SYBT | United States | $2.46B | +10% | +10% | 32% | 2.17× | n/a | 32.4% |
| Dah Sing Banking 2356.HK | Hong Kong | $2.45B | +5% | -8% | 8% | 0.53× | 5.5% | 7.5% |
| Walliser Kantonalbank WKBN.SW | Switzerland | $3.15B | +4% | -12% | 5% | 1.50× | n/a | 5.3% |