Taishin International Bank has been recognised for its commitment to climate risk management and emphasis on sustainability and digital banking.
Taiwan-based Taishin International Bank has claimed the top spot in the Best Retail Bank – Taiwan category at the 14th Annual Retail Banker International Asia Trailblazer Awards. The win has placed the bank’s strategic initiatives, unwavering commitment to climate risk management, and emphasis on sustainability and digital banking in the spotlight.
Taishin International Bank’s commitment to sustainability is evident in its adherence to climate risk management principles. On 21 July 2022, Taishin Financial Holding Company, the lender’s parent company, became the third financial peer in Taiwan and the fifth in Asia to receive official validation from the Science Based Targets initiative (SBTi) for its science-based targets.
The bank also advocates for its ‘From Zero to Hero’ initiatives, urging the public to take sustainable actions in their everyday lives to counter the impact of climate change.
Wealth management
Taishin International Bank is a pioneer in strategic initiatives, offering a diverse range of wealth management services and products to cater to various customer segments. These offerings comprise:
Customised financial planning and consulting services
A combination of TWD (new Taiwanese dollar) and foreign currency deposits
Investment products
Short and medium-term insurance policies
Consumer loans
Comprehensive tax and asset allocation advisory services.
With its team of professional specialists, diverse product offerings and exclusive member privileges, Taishin International Bank has achieved consistent growth in its wealth management customer base.
The bank has achieved success with its universal banking strategy, exemplified by its acquisition of Prudential Life Insurance of Taiwan (POT) in 2021, which was subsequently rebranded as Taishin Life Insurance. This move aligns with the lender’s goal of providing customers with a broader range of financial products and exceptional services by integrating its banking, securities and insurance businesses.
Digital banking brand
In response to the growing trend of digital banking, Taishin International Bank introduced Richart, Taiwan’s inaugural digital banking brand, in 2016.
With Richart, the lender has established a cross-industry alliance and has collaborated with various partners to deliver innovative financial products and experiences to customers.
These partnerships have proven successful and have resulted in the development of unique offerings such as the ‘Time Deposit of Music’, which is an interest-bearing time deposit account, as well as a streamlined money transfer process for both landlords and renters.
Despite the challenges posed by geopolitical tensions and monetary tightening, Taishin International Bank has maintained a solid core business performance.
The bank’s expert knowledge and technological prowess have enabled it to offer market-leading products and services while achieving balanced corporate and retail growth. As of 30 June 2022, the bank’s total loans amounted to TWD1.4tn ($46bn) and total deposits reached TWD1.8tn.
Taishin International Bank also maintains a benign overall non-performing loan ratio of 0.14 per cent, with a coverage ratio staying above 900 per cent. These strong indicators attest to the lender’s dedication to sound risk management practices and insight into client requirements as well as shifts in the global market.