CTBC Bank (中國信託銀行) ranked first among its Taiwanese peers for a sixth straight year in the Top 1,000 World Banks list published by The Banker magazine on July 4, jumping two places to the 158th spot in the overall ranking.
The recognition followed last month’s announcement that the bank would be awarded Euromoney magazine’s Awards for Excellence.
CTBC has been named Best Bank in Taiwan 13 times since the award was launched in 1997, outranking all other Taiwanese banks and setting a new record in the nation’s financial sector.
Photo courtesy of CTBC Bank
With its solid business performance and sustained control of asset quality and capital adequacy, CTBC Bank ranked for the sixth time in UK-based The Banker’s top 1,000 list, taking the top position among Taiwan’s banks with US$11.59 billion in tier 1 capital, which is US$658 million more than last year.
Euromoney ranked CTBC Bank as the Best Bank in Taiwan, principally in recognition of its clear strategic blueprint, which focuses on the three main axes of digital transformation, sustainable finance and overseas expansion.
By leading the financial sector in developing a range of business innovations and sustainable reforms, the bank has maintained steady growth even while facing the challenges of financial market turbulence and the COVID-19 pandemic.
CTBC Bank has over the past few years been investing in digital technology and transforming its core systems, partnering with industry leaders in various sectors to develop innovations and synergistically create a range of new business models.
In view of the risks posed by global climate change, CTBC Bank has assumed a key role in working toward net-zero carbon emissions by voluntarily adhering to the UN’s Principles for Responsible Banking and formulating a climate risk management policy.
The bank has set a clear internal business strategy for sustainable development, channeled capital toward green industries and exerted positive financial influence through financing and investment tools to drive corporate transformation and work with customers to promote a low-carbon economy, as well as create a responsible financial ecosystem.
Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights. The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines are not waiting for a lack of supplies to react. “Travel alert: Airlines are cutting thousands of flights right now,” Travel Therapy host Karen Schaler said in an Instagram reel this past weekend.
MANAGING RISKS: Taiwan has secured LNG sufficient to cover 95 percent of electricity demand for next month, UBS said, describing the government’s approach as proactive UBS Group AG has raised its forecast for Taiwan’s economic growth this year to 8 percent, up from 6.9 percent previously, and said expansion could reach as high as 8.6 percent if external energy shocks are avoided. The upgrade reflects a stronger-than-expected first-quarter performance and sustained momentum in artificial intelligence (AI)-driven exports, which UBS said are providing a firm foundation for growth despite geopolitical and energy risks. Taiwan’s GDP expanded 13.69 percent year-on-year in the first quarter, the fastest growth since the second quarter of 1987, the Directorate-General of Budget, Accounting and Statistics (DGBAS) reported on Thursday. On a seasonally
The Fair Trade Commission’s (FTC) ongoing review of Grab Holdings Ltd’s US$600 million acquisition of Foodpanda Taiwan’s operations, announced on March 23, has taken on fresh urgency as industry experts warn that the transaction could embed significant Chinese cybersecurity vulnerabilities into Taiwan’s digital infrastructure through Grab’s deep ties to autonomous-driving firm WeRide (文遠知行). Less than 16 months after the FTC blocked Uber Eats’ direct attempt to acquire Foodpanda Taiwan — citing potential combined market shares of 80 to 90 percent — the emergence of Grab as the buyer has prompted questions about whether the same competitive harm is simply being rerouted
The list of Asian stocks that benefit from business partnership with Nvidia Corp is getting longer, as the region further integrates into the artificial intelligence (AI) chip giant’s business ecosystem. Just in the past week, South Korea’s LG Electronics Inc, Taiwan’s Nanya Technology Corp (南亞科技), as well as China’s Huizhou Desay SV Automotive Co (德賽西威) and Pateo Connect Technology Shanghai Corp (博泰車聯) have become the latest to rally on news of tie-ups, supply-chain participation or product collaboration with the US chip designer. Asian suppliers account for about 90 percent of Nvidia’s production costs, up from about 65 percent last year, data compiled
RSS