Double win for CTBC Bank at ‘The Asian Banker’ awards

CTBC Bank Chairman Li Ming-Shieh (利明献) holds the “Best Managed Bank in Taiwan” and “Best CEO in Taiwan” awarded to CTBC Bank and himself, respectively. (Courtesy of CTBC Bank/中國信託銀行提供)

TAIPEI (The China Post) – CTBC Bank (中國信託) was named the “Best Managed Bank in Taiwan” on Oct. 15 by “The Asian Banker,” which also named CTBC Bank Chairman Li Ming-Shieh (利明献) the “Best CEO in Taiwan.”

Speaking at an online ceremony Li thanked the international magazine for evaluating the performance of leaders of financial institutions in the Asia Pacific and the Middle East region amid the coronavirus outbreak.

The chairman remarked that the award has provided the CTBC Bank with the “the most concrete encouragement” amid the coronavirus pandemic.

The global health crisis has for sure been a challenge for the bank industry as companies must take a more critical look at their competitiveness, he explained.

Thanks to its quick thinking, adaptative, customer-focused response and successful digital transformation, CTBC Bank swiftly complied with the government’s relief policies across various industries, he explained.

Amid the pandemic, CTBC Bank processed more than 280,000 labor relief loans applications and successfully approved 230,000 cases, completing in just six weeks a volume of work that would have taken two years to process in regular time.

“China Trust Bank has mobilized more than 2,600 staff members to handle labor disputes, and we have been able to respond quickly to all kinds of problems,” he explained.

As the new pandemic also cut down revenue for many industries, CTBC Bank has offered interest rate cuts on home loans, personal credit loans and credit card revolving rates, as well as extensions or concessions on corporate working capital loans, to assist the public and SMEs with capital relief.

The quick actions have been in line with the brand’s spirit, “We are family” which have translated into quick responses to customers’ needs and led them to win two awards this year – a first in Taiwan’s financial industry.

The impact of the new coronavirus epidemic has for sure demonstrated the financial institution’s ability to withstand challenges, according to online platform BankQuality.com.

The winner of the “Best CEO in Taiwan” and “Best Managed Bank in Taiwan” was selected through a questionnaire survey conducted in 11 countries and regions in the Asia Pacific region, with input from financial industry experts across Asia.

CTBC Bank’s excellent team leadership and digital banking strengths, as well as its ability to act swiftly during the epidemic period, earned it two awards this year, a first a Taiwan’s bank industry.