 | |
| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | March 14, 1966; 59 years ago (1966-03-14) |
| Founder | Jeffrey Koo Sr. |
| Headquarters | , |
Area served | Worldwide |
Key people | Chairman: Morris Li CEO: Larry Hsu President: James Chen Chia-Wen (since 2011) |
| Revenue | $13.2 billion (2024) |
Number of employees | 27,000+ |
| Parent | CTBC Financial Holding |
| Website | www |
| CTBC Bank | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Traditional Chinese | 中國信託銀行 | ||||||||||
| Simplified Chinese | 中国信托银行 | ||||||||||
| Literal meaning | China Trust Bank | ||||||||||
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| Alternative Chinese name | |||||||||||
| Traditional Chinese | 中信銀行 | ||||||||||
| Simplified Chinese | 中信银行 | ||||||||||
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CTBC Bank,[note 1] a subsidiary ofCTBC Financial Holding founded in 1966, is Taiwan's largest private bank and its second-largest commercial bank by equity.[1]
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, shortened to Chinatrust Bank.[2] In 2013, its English name was changed to CTBC Bank, which the company noted was "not an abbreviation" referring to Chinatrust Banking Corporation; the Chinese-language name meaning "Chinatrust Bank" was unchanged.[3]
The bank has subsidiaries in thePhilippines, theUnited States,Canada, Japan, Thailand andIndonesia, foreignbranch offices inSingapore,Hong Kong, mainland China,India,Japan, andVietnam, and foreignrepresentative offices in London, Bangkok, Hanoi, Beijing, Manila, and Los Angeles.[2]
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]
CTBC Bank (Philippines) 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%.[4][5] However, there was some uncertainty surrounding this transaction, as with apublic float of less than 10% of shares outstanding, Chinatrust Philippines would have to bedelisted.[5] 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.[6]
Chinatrust Philippines' president is currently Steve Tsai.[7] Its 23 branches give it one of the most extensive branch networks among foreign-owned banks in the Philippines.[8]
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 ofletters of credit as well as real estate and construction loans. In November 2012,Noor Menai was named President & CEO.[9]
CTBC USA has its heaviest presence inSouthern California with 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 usesAllpoint as its nationwideATMnetwork provider.[10]
CTBC Bank Corp. (Canada) is aSchedule II bank, mainly operating inMetro Vancouver through three branches inDowntown Vancouver,Richmond, andBurnaby, along with a suburbanToronto branch inMarkham.
