Fri, Jan 21, 2005 - Page 10 News List

Chinatrust plans to go on hiring spree

STAFF WRITER , WITH BLOOMBERG

Chinatrust Financial Holding Co (中信金控) plans to boost its workforce by a third this year as it expands its business.

The company, which has about 9,000 employees, will hire 3,000 additional workers in Taiwan and another 100 overseas, it said in a statement.

"To cope with our continuous expansion and the need to internationalize our operations, Chinatrust will hire 3,100 this year," the statement said.

The new recruits in Taiwan will focus on salespeople and specialists in personal finance, as well as personnel with expertise in financial laws.

The bank plans to hire 1,000 workers during the first quarter.

Regarding the overseas recruitment, Chinatrust Financial plans to develop a reserve personnel that specialize in capital markets, financial management, institutional banking and retail banking, as well as information technology development and applications.

The company plans to start recruitment activities before the Chinese Lunar New Year and will host job fairs at Los Angeles, Chicago and New York in the US, as well as some major cities in Canada next month.

Taiwan's expanding economy is proving lucrative for lenders, even as some 50 banks and 300 community-level lending associations compete for business.

Chinatrust's profit for the three months ending Sept. 30 last year rose 23 percent to NT$4.8 billion (US$150 million) from NT$3.9 billion a year earlier, Bloomberg calculations show. The company, in February last year forecast after-tax profit of NT$17.2 billion for last year.

Its banking arm, Chinatrust Commercial Bank (中國信託), is the nation's largest credit card issuer. It had issued 6.6 million cards at the end of September, up from 5.4 million a year earlier.

The bank in July beat out six bidders to take over failed Fengshan Credit Cooperative (鳳山信合社), increasing its branches from 101 to 110.

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