CTBC Bank

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CTBC Bank Co., Ltd.
中國信託商業銀行股份有限公司
Company typePrivately owned company
IndustryBank
Founded1966
FounderKoo Chen-fu
Jeffrey Koo Sr.
Headquarters
Taipei
,
Republic of China
Area served
Taiwan province and Fujian province
Key people
Chairman: Morris Li
CEO: Larry Hsu
President: James Chen Chia-Wen (since 2011)
ParentCTBC Financial Holding
WebsiteChinatrust Commercial Bank Limited

CTBC Bank (Chinese: 中國信託商業銀行; pinyin: Zhōngguó Xìntuō Shāngyè Yínháng; Pe̍h-ōe-jī: Tiong-kok Sìn-thok Siong-gia̍p Gûn-hâng. CTBC (not abbreviation) comes from Chinatrust Banking Corporation.[1]) is amongst the largest privately owned banks in Taiwan province of Republic of China. It is currently a wholly-owned subsidiary of CTBC Financial Holding.

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.[2] In 2013, its name was changed to CTBC bank.

The bank has subsidiaries in the Philippines, the United States, Canada, Japan, Thailand and Indonesia, foreign branch offices in Singapore, Hong Kong, Mainland China, India, Japan, and Vietnam, and foreign representative offices in London, Bangkok, Hanoi, Beijing, Manila, and Los Angeles.[2]

CTBC Bank was awarded by international professional agencies as Best Bank in Taiwan province of ROC in Asiamoney and The Asset magazines.[citation needed] In the area of corporate banking, CTBC Bank was recognized by Global Finance and Asiamoney as the Best Foreign Exchange Bank in Taiwan province of ROC,[citation needed] 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.[citation needed] 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.[citation needed]

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 purchase 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%.[3][4] 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.[4] 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 been delisted from the Philippine Stock Exchange.[5]

Chinatrust Philippines' president is currently Steve Tsai.[6] Its 23 branches give it one of the most extensive branch networks among foreign-owned banks in the Philippines.[7]

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.[2] 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.[8]

CTBC USA has its heaviest presence in Southern California with its main branch in Downtown Los Angeles, along with Industry, Arcadia, Irvine, Monterey Park, San Gabriel, San Marino, and Rowland Heights. Three locations are in the San Francisco Bay Area, including San Francisco's Embarcadero, Cupertino, and Milpitas, and the bank has three locations in Greater New York, including Sunset Park, Brooklyn, Flushing, and Edison, New Jersey. The bank uses Allpoint as its nationwide ATM network provider.[9]

Canadian subsidiary

CTBC Bank Corp. (Canada) is a Schedule II bank, mainly operating in Metro Vancouver through three branches in Downtown Vancouver, Richmond, and Burnaby, along with a suburban Toronto branch in Markham.

See also

References

  1. ^ "中信金控英文名稱 改為CTBC". Yahoo News (in Chinese). 2013-06-25. Retrieved 2024-11-26.
  2. ^ a b c About Chinatrust, Chinatrust Commercial Bank, retrieved 2011-03-31
  3. ^ Torrijos, Elena R. (2000-11-27), "Taiwan bank buys out local partners", Philippine Daily Inquirer, retrieved 2010-11-30
  4. ^ a b Torrijos, Elena R. (2000-11-30), "Chinatrust to sell 34% stake to Taipei-based parent firm", Philippine Daily Inquirer, retrieved 2010-11-30
  5. ^ "Bank to remain listed", Philippine Daily Inquirer, 2000-12-11, retrieved 2010-11-30
  6. ^ "Board and Management | CTBC BANK (PHILIPPINES) CORP". Archived from the original on 2015-07-19. Retrieved 2015-08-22.
  7. ^ "Chinatrust Philippines nets P234 million", Manila Bulletin, 2010-06-24, retrieved 2010-11-30
  8. ^ Chinatrust Commercial Bank Appoints Noor Menai President & CEO of Chinatrust Bank, BusinessWire, 20 December 2012, retrieved 2015-04-06
  9. ^ Branch/ATM Locations, Chinatrust Commercial Bank, retrieved 2015-04-06
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