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.
INFRINGEMENT: The investigation comes after a complaint from Vicor Corp, with the company seeking a limited exclusion order as well as cease-and-desist orders, the ITA said The US International Trade Commission (USITC) has launched a Section 337 investigation naming Taiwanese technology companies, including Hon Hai Precision Industry Co (鴻海), Delta Electronics Inc (台達電) and Quanta Computer Inc (廣達), as respondents. The Ministry of Economic Affairs (MOEA) pledged assistance if needed. The USITC said on Friday in a statement that it had voted to institute an investigation under Section 337 of the US Tariff Act of 1930 into certain vertical power delivery systems, related components and computing devices incorporating such systems. The investigation covers 20 companies from Taiwan, China, Germany and the US, the commission said, adding that it
PACKAGING PUSH: The chipmaker said that it would begin ramping up silicon interposer production in New York in the first half of 2028 to support AI systems GlobalFoundries Inc shares gained as much as 7 percent after the chip manufacturer announced a five-year, US$2 billion deal to provide US production capacity to Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). Under the agreement, announced on Thursday, GlobalFoundries is to help supply components known as silicon interposers. The US company is to rely on manufacturing at its facility in Malta, New York, and said it has the option to expand capacity “as customer demand grows.” An interposer is a small layer of silicon that sits between a chip and its packaging. It is home to the wires that carry electronic signals and
A man charged along with Super Micro Computer Inc co-founder Yih-Shyan “Wally” Liaw (廖益賢) of conspiring to send cutting-edge chips to China in violation of US export controls pleaded guilty, court documents said. Ting-Wei “Willy” Sun (孫廷瑋), a former outside contractor described by US authorities as a “fixer” who allegedly aided in the sales, pleaded guilty on Thursday at a hearing in federal court in New York as part of an agreement with prosecutors, court filings showed. Prosecutors claimed the men were part of a scheme to send Nvidia Corp-powered servers to an unnamed Southeast Asian company and then divert them to
SECOND-TOP MONTH: September revenue was 0.6 percent lower month-on-month, but despite the drop, it was the firm’s highest-ever sales report for the month Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported record quarterly revenue for last quarter, after sales last month hit the second-highest monthly level in the company’s history. Revenue in the quarter ended last month was NT$1.49 trillion (US$46.75 billion), up 17 percent from NT$1.27 trillion in the second quarter and exceeding the combined prediction of 19 LSEG SmartEstimate analysts of NT$1.46 trillion. Last quarter’s figure — which was up 12 percent from the midpoint of last year — also surpassed the company’s July estimates of US$44.6 billion to US$45.8 billion amid surging demand for the ramp-up of its advanced 2-nanometer technology, artificial
RSS