Sat, Mar 22, 2014 - Page 14 News List

NT$1.63m a year earned by each bank employee

MONEYMAKERS:China Development Industrial Bank staff topped the list, each generating an average of NT$11.32 million, followed by King’s Town Bank staff

By Amy Su  /  Staff reporter

Each employee at a Taiwanese bank helped generate an average of NT$1.63 million (US$53,300) in net income for their company last year, up 11.64 percent from 2012, with those at China Development Industrial Bank (中華開發工業銀行) topping the list, according to data released by the central bank on Wednesday.

The data showed all 40 banks in Taiwan — including commercial, industrial, agricultural and export-import banks — posted a total of NT$258.22 billion in pre-tax income last year. Among them, 14 banks saw their employees help the company earn NT$2 million or more each in net income last year.

Employees of China Development generated the highest contribution by making NT$11.32 million in income for the bank per employee last year, while Industrial Bank of Taiwan (台灣工業銀行), the other industrial bank in Taiwan, saw each of their employees earn NT$3.63 million, the data showed.

Among commercial banks, each employee of Greater Tainan-based King’s Town Bank (京城銀行) made a profit of NT$5.46 million for the company last year, marking the highest level among its peers.

Employees of Taipei-based Shanghai Commercial & Savings Bank (上海商業儲蓄銀行) were the runners-up, generating NT$4.79 million income per employee, followed by state-run Mega International Commercial Bank (兆豐國際商業銀行), which saw each employee earn an average of NT$4.08 million last year.

In fourth to the 10th place in the list of commercial banks were Citibank Taiwan (花旗台灣銀行), Cosmos Bank (萬泰銀行), HSBC Bank (Taiwan) Ltd (匯豐台灣商業銀行), Taishin International Bank (台新銀行), CTBC Bank (中國信託銀行), Taipei Fubon Commercial Bank (台北富邦銀行) and Cathay United Bank (國泰世華銀行).

In related news, the central bank on Wednesday announced it has completed the first-round selection of the clearing banks for transactions in euros and yen.

Six banks have been chosen to enter the second round as clearing banks for yen: Bank of Taiwan (台灣銀行), Mega International, CTBC Bank and three Japanese banks with branches in Taiwan — Sumitomo Mitsui Banking Corp, Bank of Tokyo-Mitsubishi UFJ Ltd and Mizuho Bank Ltd.

For transactions in euros, Taiwan Cooperative Bank (合作金庫銀行), First Commercial Bank (第一銀行), Standard Chartered Bank (Taiwan) Ltd (渣打國際商業銀行), Cathay United, HSBC and China-based China Construction Bank Corp (中國建設銀行) are on the list for the second round.

The central bank said it has asked all 12 banks to submit an operational plan by the end of May, with the final results expected to be announced in the middle of June.

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