CTBC Bank
 | |
| Company type | Privately owned company |
|---|---|
| Industry | Bank |
| Founded | 1966 |
| Founder | Koo Chen-fu Jeffrey Koo Sr. |
| Headquarters | , |
Area served | Taiwan |
Key people | Chairman:Morris Li CEO:Larry Hsu President:James Chen Chia-Wen (since 2011) |
| Parent | CTBC Financial Holding |
| Website | Chinatrust Commercial Bank Limited |
CTBC Bank(Chinese:Trung quốc tín thác thương nghiệp ngân hành;pinyin:Zhōngguó Xìntuō Shāngyè Yínháng;Pe̍h-ōe-jī:Tiong-kok Sìn-thok Siong-gia̍p Gûn-hâng,literally China Trust Business Bank) is amongst the largestprivately ownedbanksinTaiwan.It is currently a wholly-owned subsidiary ofCTBC Financial Holding.
History
[edit]It was established in 1966 under the nameChina Securities and Investment Corporation.In 1971, its name was changed toChinatrust Investment Company Limited.In 1992, it was transformed intoChinatrust Commercial Bank.[1]In 2013, its name was changed toCTBC bank.
The bank has subsidiaries in thePhilippines,theUnited States,Canada,Japan, Thailand andIndonesia,foreignbranch officesinSingapore,Hong Kong,China,India,Japan,andVietnam,and foreignrepresentative officesin London, Bangkok, Hanoi, Beijing, Manila, and Los Angeles.[1]
CTBC Bank was awarded by international professional agencies as Best Bank in Taiwan 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,[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
[edit]Chinatrust Philippines Commercial Bank Corp. is a subsidiary of Chinatrust Commercial Bank Corp. of Taiwan. It is listed on thePhilippine 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%.[2][3]However, there was some uncertainty surrounding this transaction, as with apublic floatof less than 10% of shares outstanding, Chinatrust Philippines would have to bedelisted.[3]In the end, Chinatrust Philippines was able to remain listed by declaring its intention to issue more shares through asecondary market offering,and paying fines to the exchange in the meantime. However, in 2012, CCB has been delisted from thePhilippine Stock Exchange.[4]
Chinatrust Philippines' president is currently Steve Tsai.[5]Its 23 branches give it one of the most extensive branch networks among foreign-owned banks in the Philippines.[6]
United States subsidiary
[edit]CTBC Bank Corp. (USA) was one of the first Asian American banks to operate both in the Eastern and Western United States.[1]Services provided include issuance ofletters of creditas well as real estate and construction loans. In November 2012,Noor Menaiwas named President & CEO.[7]
CTBC USA has its heaviest presence inSouthern Californiawith its main branch inDowntown Los Angeles,along withIndustry,Arcadia,Irvine,Monterey Park,San Gabriel,San Marino,andRowland Heights.Three locations are in theSan Francisco Bay Area,includingSan Francisco'sEmbarcadero,Cupertino,andMilpitas,and the bank has three locations inGreater New York,includingSunset Park, Brooklyn,Flushing,andEdison, New Jersey.The bank usesAllpointas its nationwideATMnetworkprovider.[8]
Canadian subsidiary
[edit]CTBC Bank Corp. (Canada) is aSchedule II bank,mainly operating inMetro Vancouverthrough three branches inDowntown Vancouver,Richmond,andBurnaby,along with a suburbanTorontobranch inMarkham.
See also
[edit]
References
[edit]- ^abcAbout Chinatrust,Chinatrust Commercial Bank,retrieved2011-03-31
- ^Torrijos, Elena R. (2000-11-27),"Taiwan bank buys out local partners",Philippine Daily Inquirer,retrieved2010-11-30
- ^abTorrijos, Elena R. (2000-11-30),"Chinatrust to sell 34% stake to Taipei-based parent firm",Philippine Daily Inquirer,retrieved2010-11-30
- ^"Bank to remain listed",Philippine Daily Inquirer,2000-12-11,retrieved2010-11-30
- ^"Board and Management | CTBC BANK (PHILIPPINES) CORP".Archived fromthe originalon 2015-07-19.Retrieved2015-08-22.
- ^"Chinatrust Philippines nets P234 million",Manila Bulletin,2010-06-24,retrieved2010-11-30
- ^Chinatrust Commercial Bank Appoints Noor Menai President & CEO of Chinatrust Bank,BusinessWire, 20 December 2012,retrieved2015-04-06
- ^Branch/ATM Locations,Chinatrust Commercial Bank,retrieved2015-04-06
External links
[edit]
- Chinatrust Philippines Commercial Bank Corporation
- Chinatrust Commercial Bank Limited
- CTBC Bank U.S.
- CTBC Bank Canada
- Chinatrust SMS Case Study
- Chinatrust Commercial Bank
