The Taiwanese arm of ANZ reported a pre-tax profit of NT$171 million (A$5.6 million) in July, almost double the profit of the previous month, data released by the island's financial regulator yesterday shows.In the first seven months of 2011, ANZ Taiwan reported a pre-tax profit of NT$695 million, up from a cumulative profit of only NT$7 million as of last July, according to the Financial Supervisory Commission.ANZ Taiwan rebranded in April 2010. It was previously known as ABN Amro.As of July this year ANZ's return on assets and its return on equity reached 3.9 per cent and 10.2 per cent, respectively, on a pre-tax basis, FSC statistics show. While a niche player, ANZ Taiwan believes its growth in both Taiwan and China is on track.ANZ Taiwan plans to leverage the strength of its parent group to become a super-regional bank and so seize the business potential that is the greater China market. Taiwanese rivals may not be able to compete. ANZ's chief executive officer, Terry King, wrote in a recent interview via email. "We are making very good progress in our transaction banking, and trade and supply chain businesses in Taiwan, which service both SMEs [small- and medium-sized enterprises] and bigger corporates," King wrote.  "Our Taiwan business and our growing presence in China, together with our offshore RMB business in Hong Kong, provide a unique network to connect our customers in Greater China - that is China, Hong Kong and Taiwan," he said, adding that the bank is highly positive about the growth potential of these markets.ANZ is currently in the process of applying to upgrade its branch in Taiwan to subsidiary status. Once it is locally incorporated, King says, "ANZ [Taiwan] will ensure that it is sufficiently capitalised to take advantage of institutional banking opportunities as they arise." He adds that the bank intends to expand in SME lending and syndicated loans in Taiwan, while continuing to grow its retail businesses, including consumer finance, wealth management, credit card and mortgage businesses. In July, the bank advanced NT$95 billion in corporate loans, or growth four per cent over the month. This represents a meagre 0.4 per cent market share among 65 domestic banks and foreign branches in Taiwan, however.In mortgage loans, the bank's market share is 0.1 per cent.Credit cards are ANZ's strength in Taiwan. In July ANZ held NT$5.9 billion in revolving balances, and reported card spending of NT$2.8 billion. This puts its market share at 3.6 per cent (measured by balance) and two per cent (measured by spend).Thirty-six banks serve the payment card market in Taiwan. ANZ Taiwan is the eleventh-largest issuer in Taiwan with more than 700,000 cardholders.In the corporate and Institutional space, the bank sees big opportunities in transaction banking and the trade and supply chain, and is acquiring more customers in its specialised lending business division. ANZ also plans to expand the number of products that it offers its corporate and Institutional customers, says King.