HSBC Bank (Taiwan) Ltd on Wednesday last week won an “outstanding foreign business” award at the Golden Merchant Awards Ceremony held by the General Chamber of Commerce of the Republic of China, making it the only foreign bank to receive such an honor at this year’s ceremony.
HSBC Taiwan's President and CEO Adam Chen met with Taiwan President Tsai Ing-wen (蔡英文),Premier Chen Chien-jen(陳建仁) and Legislative Speaker You Si-kun(游錫堃) on Nov.7, who recognized these outstanding businesses' contributions to the Taiwan society.
HSBC Taiwan president and CEO Adam Chen (陳志堅) accepted the award on behalf of the bank at the 2023 Merchants’ Day Conference and Golden Merchant Awards Ceremony.
Photo courtesy of HSBC Bank Taiwan
In his acceptance speech, Chen said that HSBC has been growing its business in Taiwan for nearly 40 years.
He said that the bank leverages the advantages of the HSBC Holdings group’s global network of service points to constantly introduce industry-leading financial products and internationalized services that meet customers’ needs, and to provide investment analysis and professional insights garnered from its global team of experts, making it the most publicly recognizable financial institution that is most deserving of customers’ trust.
HSBC has in recent years continued to pour resources into expanding its commitment to Taiwan.
Photo courtesy of HSBC Bank Taiwan
Last year, it relocated its Taiwan headquarters to the Taipei 101 skyscraper, which is a world-class green building, and at the end of last year it established HSBC’s first flagship wealth management center in Taiwan at its Taipei branch, demonstrating the bank’s determination to help Taiwan develop into a financial center in the Asia-Pacific region.
The combined pre-tax profit of HSBC Bank's Taiwan subsidiary and Taipei branch totaled NT$7.5 billion in the first eight months of the year, a big jump of 111% from the same period last year and already higher than the full-year profit of NT$5.9 billion posted in 2022, according to FSC statistics.The 111% YoY growth was also significantly faster than the overall banking sector's 28% growth during the period, data showed.If maintaining the same growth pace, the bank may see its pre-tax profit in 2023 mark the highest level since it established the subsidiary in Taiwan in 2010.
HSBC also actively cultivates financial talent, continues to expand its financial offerings, and guides its customers to discover and develop business and investment opportunities all around the world.
Aside from its outstanding performance in various business areas, HSBC has responded to international trends by integrating environmental, social and governance (ESG) elements into its financial products and solutions. It is committed to becoming a net zero emissions bank and encourages industries to make the transition to low-carbon operations.
While continuing to focus on providing friendly and convenient financial services, HSBC has not overlooked longer-term social issues such as care for the environment and education.
Aside from the Golden Merchant Award, HSBC has received numerous awards in Taiwan and abroad for its efforts to meet customers’ needs. As well as winning Commonwealth Magazine’s Excellence in Corporate Social Responsibility award for the 13th year in a row, this year it has also been named Taiwan’s best foreign bank by FinanceAsia and Asiamoney magazines, showing how widely HSBC is recognized for its outstanding operational performance.
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
Popular vape brands such as Geek Bar might get more expensive in the US — if you can find them at all. Shipments of vapes from China to the US ground to a near halt last month from a year ago, official data showed, hit by US President Donald Trump’s tariffs and a crackdown on unauthorized e-cigarettes in the world’s biggest market for smoking alternatives. That includes Geek Bar, a brand of flavored vapes that is not authorized to sell in the US, but which had been widely available due to porous import controls. One retailer, who asked not to be named, because
SEASONAL WEAKNESS: The combined revenue of the top 10 foundries fell 5.4%, but rush orders and China’s subsidies partially offset slowing demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) further solidified its dominance in the global wafer foundry business in the first quarter of this year, remaining far ahead of its closest rival, Samsung Electronics Co, TrendForce Corp (集邦科技) said yesterday. TSMC posted US$25.52 billion in sales in the January-to-March period, down 5 percent from the previous quarter, but its market share rose from 67.1 percent the previous quarter to 67.6 percent, TrendForce said in a report. While smartphone-related wafer shipments declined in the first quarter due to seasonal factors, solid demand for artificial intelligence (AI) and high-performance computing (HPC) devices and urgent TV-related orders
MINERAL DIPLOMACY: The Chinese commerce ministry said it approved applications for the export of rare earths in a move that could help ease US-China trade tensions Chinese Vice Premier He Lifeng (何立峰) is today to meet a US delegation for talks in the UK, Beijing announced on Saturday amid a fragile truce in the trade dispute between the two powers. He is to visit the UK from yesterday to Friday at the invitation of the British government, the Chinese Ministry of Foreign Affairs said in a statement. He and US representatives are to cochair the first meeting of the US-China economic and trade consultation mechanism, it said. US President Donald Trump on Friday announced that a new round of trade talks with China would start in London beginning today,
RSS