CTBC Bank (Chinese: ä¸åœ‹ä¿¡è¨—商æ¥éŠ€è¡Œ; pinyin: ZhÅngguó XìntuÅ ShÄngyè YÃnhángspan>) is amongst the largest privately owned banks in Taiwan. It is controlled by the family of Koo Chen-fu.
History
It was established in 1966 under the name China Securities and Investment Corporation. In 1971, its name was changed to Chinatrust Investment Company Limited. In 1992, it was transformed into Chinatrust Commercial Bank. Up until 2009, the chairman of the company was Luo Lian-fu. He was succeeded in July 2009 by Michael (Mike) Bernard DeNoma, the first foreigner to take up the role.
The bank has subsidiaries in the Philippines, the United States, Canada, and Indonesia, foreign branch offices in Singapore, Hong Kong, India, Japan, and Vietnam, and foreign representative offices in London, Bangkok, Hanoi, Beijing, Manila, and Los Angeles.
CTBC Bank was awarded by international professional agencies as Best Bank in Taiwan in Asiamoney and The Asset magazines. In the area of corporate banking, CTBC Bank was recognized by Global Finance and Asiamoney as the Best Foreign Exchange Bank in Taiwan, while Global Finance, The Asset, The Asian Banker, The Corporate Treasurer, and Global Trade Review magazines named CTBC Bank Taiwan’s Best Trade Finance Bank. CTBC Bank was awarded Best Retail Bank in Taiwan by The Asian Banker for the ninth time and was named Taiwan’s Best Wealth Management Bank in Euromoney for the eleventh time.
Philippine subsidiary
Chinatrust Philippines Commercial Bank Corp. is a subsidiary of Chinatrust Commercial Bank Corp. of Taiwan. It is listed on the Philippine Stock Exchange, but the majority of shares are held by Chinatrust Taiwan. In November 2000, Chinatrust Taiwan agreed to 63,526,127 shares of Chinatrust Philippines at P19 per share from a group of shareholders led by then-President William Go, increasing its shareholding from 57.5% to 91%. However, there was some uncertainty surrounding this transaction, as with a public float of less than 10% of shares outstanding, Chinatrust Philippines would have to be delisted. In the end, Chinatrust Philippines was able to remain listed by declaring its intention to issue more shares through a secondary market offering, and paying fines to the exchange in the meantime. However, in 2012, CCB has beed delisted from the Philippine Stock Exchange.
Chinatrust Philippines' president is currently Steve Tsai. Its 23 branches give it one of the most extensive branch networks among foreign-owned banks in the Philippines.
United States subsidiary
CTBC Bank Corp. (USA) was one of the first Asian American banks to operate both in the Eastern and Western United States. Services provided include issuance of letters of credit as well as real estate and construction loans. In November 2012, Noor Menai was named President & CEO. It has branches in:
- Southern California: City of Industry, Irvine, Monterey Park, San Gabriel, San Marino, Downtown Los Angeles (Head Office), Rowland Heights
- Northern California: Cupertino, Milpitas
- New Jersey: Edison
- New York: Brooklyn, Flushing
Canadian subsidiary
CTBC Bank Corp. (Canada) is a Schedule II bank operating in Canada . (See List).
References
External links
- Chinatrust Philippines Commercial Bank Corporation
- Chinatrust Commercial Bank Limited
- CTBC Bank
- Chinatrust SMS Case Study
- Chinatrust Commercial Bank