International financial magazine Global Finance on September 14 held an online ceremony to announce the “Best Global Bank Awards 2021” winners. CTBC Bank Co was named the “Best Bank in Taiwan” for its excellent business performance in revenue, profit and asset scale, despite the global COVID-19 pandemic.

Global Finance also credited CTBC for its digital innovation and team efforts in assisting customers with applying for government relief loans during the pandemic.

The awards’ organizer said that CTBC has continuously made inroads into overseas markets despite intense market competition. This year, the bank increased its stake in LH Financial Group PCL to 46.6 percent, making it the largest shareholder of the Thai group and further expanding its cross-border financial services.

In the Asia-Pacific region, CTBC also continues to retain its leadership in merger and acquisition financing and in renewable energy project financing, the organizer said. It has been repeatedly commissioned by top enterprises and international private equity funds to act as a lead bank in coordinating deals.

CTBC said that due to the rise of digital banking and the effect of COVID-19, the number of visitors to its branches has fallen by 12% in the past two years, while the number of mobile banking customers has increased 47% over the period. This indicates that customers are willing to use digital financial services, CTBC said.

Corporate customers have also shifted their transactions from physical to digital channels, with the number of transactions via mobile apps growing 144% last year.

During the pandemic, CTBC has actively built contactless services and introduced digital banking services into relief loans for workers. This year, about 99% of workers’ relief loans were applied for online, and 97% of their applications were completed through the bank’s fully automated intelligent processing system, CTBC said.

In addition, CTBC has processed more than 360,000 relief loan applications for the second consecutive year, topping other private banks, it said.

CTBC has also taken the lead in adopting Apple Inc’s Business Chat financial service, which is integrated directly into Apple’s Messages app, in a bid to develop a unique financial ecosystem and better serve its customers.

During the pandemic, CTBC won the “Most Helpful Banks in Asia Pacific During COVID-19” and “Most Helpful Transaction Bank during COVID-19 in Taiwan” awards from The Asian Banker magazine.

This year, the bank has been awarded “Best Bank in Taiwan” titles by three globally renowned magazines: Global Finance, Asiamoney and FinanceAsia.

Taipei Times