CTBC Financial Holding Co (中信金控) is Taiwan’s sixth-most valuable brand, with a brand value of US$549 million, the Best Taiwan Global Brands survey released on Tuesday by the Ministry of Economic Affairs found.
CTBC Financial said that the survey showed that it has topped other financial companies in Taiwan for a fifth consecutive year, making it the most influential financial firm in terms of brand value.
The Industrial Development Bureau commissioned international consultancy Interbrand to conduct the annual survey on the value and ranking of the top 25 Taiwanese brands, CTBC Financial said.
Photo courtesy of CTBC Financial Holding Co
The survey assessed the brand value of thousands of Taiwanese listed companies through a two-stage process, while considering each firm’s financial strength and brand development strategy, it said.
The survey showed that CTBC Financial has dedicated significant effort toward expanding its overseas businesses and its transition to digital technologies.
The company has provided special loan programs for those affected by the COVID-19 pandemic, which is part of its “We are family” brand, an image that has successfully appealed to people, it said.
The branding — sustained and built up carefully through a series of videos and events — has been the main reason CTBC Financial has once again received the award, the survey’s organizers said.
Jeffrey Koo Sr (辜濓松), the late founder of the company, once said: “A company’s value is not based on becoming the most profitable, but, more importantly, on what it contributes to society and how it becomes a positive influence.”
When receiving the award at a ceremony on Tuesday, CTBC Financial chief administration officer Roger Kao (高人傑) said that the company has always been concerned with social issues in Taiwan, and this year it has focused on the pandemic in its videos.
One video contrasted the Taiwanese government’s efforts at combatting the pandemic with its work during the SARS epidemic in 2003, to 50 years earlier, when the Republic of China lost its seat in the UN, demonstrating that Taiwanese have always been able to come together in the face of adversity, he said.
The video has been viewed more than 11 million times by people from 20 countries, which not only brings Taiwan international attention, but also allows the world to see the extraordinary work that has gone into maintaining the normalcy of everyday life in Taiwan, Kao said.
Working with the Taiwanese government, CTBC Bank (中國信託銀行) has also provided relief loans to workers, an expedited process, with two years of work completed in six weeks through the lender’s digital banking technology.
The bank in October last year started a trial with Chi Mei Corp (奇美實業) to build the world’s largest blockchain credit platform, which simplifies the transaction process while also increasing security, CTBC Financial said.
The trial not only showed that the platform could cut processing time from five days to one, but also markedly improve transaction security, it added.
SETTING AN EXAMPLE: The commission suspended the bank’s two top executives as ‘a warning to all banks,’ while the fine is the biggest to be given to a bank in a single case The Financial Supervisory Commission (FSC) yesterday fined E.Sun Commercial Bank (玉山銀行) NT$20 million (US$693,698) over a theft scandal and punished the bank’s two top executives. A customer relationship manager surnamed Pan (潘) at the bank’s branch in Kaohsiung’s Fengshan District (鳳山) stole NT$140 million from 41 clients over the past seven years, the commission said. Pan secretly transferred the stolen money to accounts belonging to her and her family members by using clients’ debit cards, passwords or documents that were stamped using the clients’ personal stamps between July 2013 and June this year, the commission said. The commission suspended Ben Chen (陳炳良), the
Contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to remain the third-largest IC supplier this year, unchanged from last year, IC Insights said yesterday. IC designer MediaTek Inc (聯發科) is expected to become the 11th-largest, up from 16th last year, the semiconductor market research firm said. TSMC is expected to post US$45.42 billion in sales, up 31 percent from last year, IC Insights said in a report released on its Web site. TSMC’s sales growth is largely due to a surge in orders from Apple Inc and HiSilicon Technologies Co (海思半導體) — two of its major clients — which
HARD ASK: At a meeting held by the MOEA to talk about the RCEP trade deal, trade associations said that they expect the government to push for more free-trade deals Business representatives yesterday urged the government to slow the appreciation of the New Taiwan dollar, saying that some Taiwanese industries have been undercut by rivals due to unfavorable foreign exchange rates. The government should also assist local industries to expand their domestic market, and push for more bilateral trade deals so that Taiwanese companies can enjoy zero or preferential tariffs on exports, following the nation’s exclusion from the Regional Comprehensive Economic Partnership (RCEP) which was signed by 15 Asia-Pacific nations on Nov. 15, they said at a meeting with the Ministry of Economic Affairs (MOEA). Some participants said that the NT dollar’s
BREATH OF LIFE: The firm said the under-utilized plant should start mass production in the first quarter, timed to coincide with Intel Corp’s release of its Ice Lake server chip Hon Hai Precision Industry Co (鴻海精密) plans to assemble key components for Google servers at its plant in Wisconsin, people familiar with the matter said, finally breathing life into a factory that US President Donald Trump hailed as crucial to bringing manufacturing back to the US. The company has decided to locate production for this new contract at the existing complex rather than make the components at home or in China, the people said, asking not to be identified. The under-utilized plant should start mass production in the first quarter, timed with the release of Intel Corp’s Ice Lake server chips,