CTBC Bank is the runaway winner of the best domestic private bank award. As a full-service lender, CTBC is a powerhouse across the financial spectrum, with more than 260 branches in 14 countries and regions, including 47 in Asia.
The Taipei-based institution enjoyed another banner year in 2019. Total assets under management in the broad span of its wealth division grew 8% year on year, with AuM in its ‘Private Privilege’ wealth division – offered to customers with upward of NT$150 million ($5 million) in financial assets, up 17% on an annualised basis.
AuM in CTBC’s ‘Private Plus’ division (for clients with assets of NT$30 million-plus) and ‘Private’ wealth category (NT$15 million and up) both expanded by 15% in 2019 on an annualised basis.
Ever ahead of the curve, CTBC recently rejigged its team and its resources. The Private Privilege category was created in 2018 with the aim of offering world-class wealth management services to upper high and ultra-high net-worth customers, from relationships managers with at least 15 years’ experience in the financial industry.
The quality of service compares keenly with those on offer at any global private bank, ranging from wealth transfer and succession planning to family offices and trusts.
A particular focus in recent years has been on helping Taiwan’s best entrepreneurs to plan financially for the future. Another key development in 2019 was the latest HNWI Report, published jointly by CTBC Bank and PwC Taiwan.
Covid-19 presents a different sort of challenge. The bank has reacted by reaching out to and communicating more with all of its clients across the wealth spectrum, again reinforcing the strength of its position at the apex of private banking in Taiwan.