Mega International Commercial Bank (兆豐國際商銀) outperformed other domestic lenders in overall proficiency rankings last year and in the first half of this year, a National Taiwan University survey showed yesterday.
The state-run bank — which was formed in 2006 through a merger of the International Commercial Bank of China (中國國際商銀) and Chiao Tung Bank (交通銀行) — has benefitted from the consolidation and improved its financial showing and asset qualities, a report by the university’s Center for the Study of Banking and Finance said.
The bank, a subsidiary of Mega Financial Holding Co (兆豐金控), could maintain its leading position in Taiwan and further boost its profitability after China approves a plan to upgrade its representative office in Suzhou to a branch later this year, said Hwang Dar-yeh (黃達業), a professor of finance who led the university survey.
“Other [domestic] lenders will have difficulty overtaking Mega International Commercial Bank given its scale, financial proficiency and asset quality,” Hwang said.
Mega Bank has paid-in capital of NT$64.1 billion (US$2.05 billion), more than 5,000 employees, 108 domestic and 19 overseas branches and three representative offices abroad.
Chinatrust Commercial Bank (中國信託商銀), the banking arm of Chinatrust Financial Holding Co (中信金控), ranked second in the first half of this year, up from third place last year, as its recovering credit card and wealth management businesses increased fee and interest income, the report said.
Chinatrust, the nation’s largest credit card issuer, emerged from the global financial crisis unscathed mainly because of its strong asset profile with a capital adequacy ratio of 14.56 percent last year, the report said.
Cathay United Bank (國泰世華銀行), the banking subsidiary of Cathay Financial Holdings Co (國泰金控), ranked third in the first half of this year, down from second place last year, as the bank adjusted its loan portfolio and placed more emphasis on secured lending, the report said.
The bank used to focus on consumer banking, but is seeking to strike a balance between its corporate and consumer banking business, the report said.
Hwang expects tighter competition between Cathay and Chinatrust for second place in the foreseeable future.
The ranking of Taipei Fubon Bank (台北富邦銀行), a subsidiary of Fubon Financial Holding Co (富邦金控), remained unchanged at fourth place in the first half, as the lender adopted a more active management strategy, the report said.
The survey rated 23 banks — which directly, or through their parent companies, trade on the local bourse — based on their capital structure, management, earnings ability, market share and growth potential.
Taiwan Cooperative Bank (合作金庫) ranked fifth, followed by Taishin International Bank (台新銀行), E.Sun Commercial Bank (玉山銀行) and Bank SinoPac (永豐銀行).
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
RSS