The well-known international financial magazine Global Finance on Tuesday held an online ceremony to announce the “Best Global Bank Awards 2021” winners. CTBC Bank Co (中國信託銀行) was named the “Best Bank in Taiwan” for its excellent business performance in revenue, profit and asset scale, despite the global COVID-19 pandemic.
Global Finance also credited CTBC for its digital innovation and team efforts in assisting customers with applying for government relief loans during the pandemic.
The awards’ organizer said that CTBC has continuously made inroads into overseas markets despite intense market competition. This year, the bank increased its stake in LH Financial Group PCL to 46.6 percent, making it the largest shareholder of the Thai group and further expanding its cross-border financial services.
Photo courtesy of CTBC Bank Co
In the Asia-Pacific region, CTBC also continues to retain its leadership in merger and acquisition financing and in renewable energy project financing, the organizer said. It has been repeatedly commissioned by top enterprises and international private equity funds to act as a lead bank in coordinating deals.
CTBC said that due to the rise of digital banking and the effect of COVID-19, the number of visitors to its branches has fallen by 12 percent in the past two years, while the number of mobile banking customers has increased 47 percent over the period.
This indicates that customers are willing to use digital financial services, CTBC said.
Corporate customers have also shifted their transactions from physical to digital channels, with the number of transactions via mobile apps growing 144 percent last year.
During the pandemic, CTBC has actively built contactless services and introduced digital banking services into relief loans for workers. This year, about 99 percent of workers’ relief loans were applied for online, and 97 percent of their applications were completed through the bank’s fully automated intelligent processing system, CTBC said.
In addition, CTBC has processed more than 360,000 relief loan applications for the second consecutive year, topping other private banks, it said.
CTBC has also taken the lead in adopting Apple Inc’s Business Chat financial service, which is integrated directly into Apple’s Messages app, in a bid to develop a unique financial ecosystem and better serve its customers.
The app turns customers’ iPhones into a ticket machine and a working desk, while helping customers pay fees, the bank said. The service plans to add features to help customers find nearby merchants participating in CTBC’s reward scheme, and further drive development of local businesses, it said.
During the pandemic, CTBC won the “Most Helpful Banks in Asia Pacific During COVID-19” and “Most Helpful Transaction Bank during COVID-19 in Taiwan” awards from The Asian Banker magazine.
This year, the bank has been awarded “Best Bank in Taiwan” titles by three globally renowned magazines: Global Finance, Asiamoney and FinanceAsia.
Production at Taiwan Semiconductor Manufacturing Corp’s (TSMC, 台積電) fabs was not affected by a fire at a construction site for a water recycling facility in the Southern Taiwan Science Park in Tainan. The world’s biggest contract chipmaker said that the construction site is not adjacent to its fabs, which were unaffected. CTCI Corp (中鼎工程) is responsible for the construction of the facility, which it is to operate itself once it is completed, the chipmaker said. The facility caught fire at about 11am, and the blaze was brought under control about 30 minutes after the incident was reported, the Southern Taiwan Science Park Administration
SUBSIDIES NEEDED: Legislation to provide grants and incentives to the semiconductor industry has been stalled by lawmakers, to the frustration of chipmaker Intel Corp’s plans for a multibillion-dollar investment in a new US semiconductor plant hang in part on the US Congress moving on a stalled plan to bolster the domestic chip industry, Intel CEO Pat Gelsinger said. “The capital plans that we’ve laid out do not presume anything heroic on the part of the government, but we’d like to go bigger and faster as a result of the investments from the US government,” Gelsinger said on Bloomberg Television. Intel’s earnings report on Thursday underscored the costs of returning the world’s largest chipmaker to global industry leadership. A bipartisan push to make the US more
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday denied a report that there has been a delay in its Arizona investment project, saying the plan is on schedule. Construction of a planned 12-inch wafer foundry in Arizona started in June and equipment installation is to start in the second half of next year, TSMC said. In the fab’s initial phase, it is to produce 20,000 wafers a month starting in the first quarter of 2024, the company said. TSMC announced the Arizona project in May last year, saying it would invest US$12 billion to build the fab, which would
‘MORE IN 2022’: Chief executive Rick Tsai said the firm believes the same strengths of the past few years would bring solid revenue growth and profitability next year MediaTek Inc (聯發科) yesterday raised its revenue growth forecast for this year for the second time, buoyed by higher average selling prices and market share gains amid increasing 5G penetration worldwide. The chip designer now expects revenue to grow 52 percent from last year, up from the 45 percent growth it estimated three months ago. As a result, revenue this year would surpass NT$480 billion (US$17.24 billion), a new record and up from NT$322.15 billion last year. “The strong performance in both revenue growth and gross margin” improvement will not be limited to next year only, MediaTek chief executive officer Rick Tsai (蔡力行)