The Bank was founded on 13 March 2002, by an amalgamation of eight local credit unions with a registered capital of RMB 300 million.

Together with its predecessor organisation Yinzuo Urban Credit Union, Bank of Taizhou has a continuous history of 25 years.

By the end of 2011, TZB's whole deposit balance total assets stood at 57.192 billion RMB, up 18% from the previous year.

In 2008, TZB was awarded with third place in the "Comprehensive competitiveness rank of national city commercial banks" by the Chinese finance magazine "The Banker".

Bank of Taizhou is now operating on a nationwide basis, using its subsidiary VTBs to reach more distant locations.