CTBC Bank, Taiwan’s largest privately owned bank, prides itself on its many firsts. Over the last 56 years it has led the pack in issuing credit cards, opening 24-hour service centres, incorporating QR codes and biometrics, linking payments to Facebook and acquiring a Japanese bank.
So it is no surprise that CTBC is now at the forefront of Taiwan’s efforts to find its place in a fast-changing Asia.
“The bank aspires to be in the league of leading regional banks, differentiated in digital innovation, cross-border offerings tailored to mid- and small-cap corporates, and being the ESG [environmental, social and governance] lead promoter in Asia,” James Chen, CTBC’s president, tells Asiamoney.
These goals coincide with Taiwan’s efforts to achieve something similar, if on a much grander scale – ambitions made all the more difficult by Chinese president Xi Jinping’s attempts to chip away at Taiwan’s hard-won independence, both in political and economic terms.
Our ambition for the next five years is to become a top-tier regional bank in Asia. Our market position is to catch up with DBS
It is tough enough to navigate a local financial scene populated by nearly 40 banks and to attract and hold on to a critical mass of the island’s population of close to 24 million people.