CTBC Bank (中國信託銀行) chairman Morris Li (利明献) on Thursday last week was named The Asian Banker’s Best CEO in Taiwan for leading innovation by utilizing digital technology amid the COVID-19 pandemic.
CTBC was also named Best Managed Bank in Taiwan for cooperating with the government to provide worker bailout funds, effectively addressing public need through capital management.
It was the only financial institution in Taiwan to receive that award.
Photo courtesy of CTBC Bank
Speaking at an online awards ceremony, Li thanked the financial information company for the substantial encouragement it had given the CTBC team in such difficult times.
During the pandemic, CTBC handled in six weeks cases that would normally require two years to process, including more than 280,000 labor bailout applications, with about 230,000 of them approved, Li said.
The efficiency of the loan service is high, because the bank has an all-digital platform for applications, a smart review system and automated processing — three “digital strengths” of the bank, he said.
The agility of its customer-centered staff is another reason for CTBC’s success, Li said, adding that more than 2,600 employees contributed to the bank’s bailout services.
While the pandemic affected revenue in many industries, CTBC introduced preferential mortgage, personal loan, credit card interest rate and corporate revolving loan packages to relieve the burden on people, and small and medium-sized enterprises, he said.
Discounts were introduced in April for businesses at the CTBC Financial Park (中國信託金融園區) in Taipei’s Nangang District (南港), with the highest rent decrease being 86 percent, he said.
Li extended appreciation to all CTBC employees in Taiwan and abroad for fulfilling the corporate spirit of “We are family” by swiftly addressing customers’ needs at all times.
The Asian Banker Leadership Achievement Awards Program is held every three years.
It is widely acknowledged in the financial services industry as the highest accolade for professionals in the industry in the Asia-Pacific, the Middle East and Africa.
The Best Managed Bank in Taiwan award is decided based on the opinions of experts and the results of online questionnaires sent via BankQuality.com, with the three biggest performance factors being digitalization, credit and liquidity risk management capabilities, and social contribution.
There were 11 best CEOs and 11 best-managed bank awards named in the Asia-Pacific region this year.
Hon Hai Precision Industry Co (鴻海精密) yesterday said that its research institute has launched its first advanced artificial intelligence (AI) large language model (LLM) using traditional Chinese, with technology assistance from Nvidia Corp. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), said the LLM, FoxBrain, is expected to improve its data analysis capabilities for smart manufacturing, and electric vehicle and smart city development. An LLM is a type of AI trained on vast amounts of text data and uses deep learning techniques, particularly neural networks, to process and generate language. They are essential for building and improving AI-powered servers. Nvidia provided assistance
STILL HOPEFUL: Delayed payment of NT$5.35 billion from an Indian server client sent its earnings plunging last year, but the firm expects a gradual pickup ahead Asustek Computer Inc (華碩), the world’s No. 5 PC vendor, yesterday reported an 87 percent slump in net profit for last year, dragged by a massive overdue payment from an Indian cloud service provider. The Indian customer has delayed payment totaling NT$5.35 billion (US$162.7 million), Asustek chief financial officer Nick Wu (吳長榮) told an online earnings conference. Asustek shipped servers to India between April and June last year. The customer told Asustek that it is launching multiple fundraising projects and expected to repay the debt in the short term, Wu said. The Indian customer accounted for less than 10 percent to Asustek’s
‘DECENT RESULTS’: The company said it is confident thanks to an improving world economy and uptakes in new wireless and AI technologies, despite US uncertainty Pegatron Corp (和碩) yesterday said it plans to build a new server manufacturing factory in the US this year to address US President Donald Trump’s new tariff policy. That would be the second server production base for Pegatron in addition to the existing facilities in Taoyuan, the iPhone assembler said. Servers are one of the new businesses Pegatron has explored in recent years to develop a more balanced product lineup. “We aim to provide our services from a location in the vicinity of our customers,” Pegatron president and chief executive officer Gary Cheng (鄭光治) told an online earnings conference yesterday. “We
LEAK SOURCE? There would be concern over the possibility of tech leaks if TSMC were to form a joint venture to operate Intel’s factories, an analyst said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday stayed mum after a report said that the chipmaker has pitched chip designers Nvidia Corp, Advanced Micro Devices Inc and Broadcom Inc about taking a stake in a joint venture to operate Intel Corp’s factories. Industry sources told the Central News Agency (CNA) that the possibility of TSMC proposing to operate Intel’s wafer fabs is low, as the Taiwanese chipmaker has always focused on its core business. There is also concern over possible technology leaks if TSMC were to form a joint venture to operate Intel’s factories, Concord Securities Co (康和證券) analyst Kerry Huang (黃志祺)
RSS