Chinatrust Bank changes English name to CTBC Financial Holding Co.
By Ann Yu, The China PostTAIPEI, Taiwan --The Chinatrust Commercial Bank (中國信託金融控股公司, CTBC Bank) yesterday changed its official English name to CTBC Financial Holding Co.
June 26, 2013, 12:15 am TWN
With the company's expansion onto the global stage, CTBC stated that the change will help promote the company as an internationally connected Asian financial institution. The Chinese name will remain the same.
Chinatrust Financial President Daniel Wu (吳一揆) stated that CTBC expects itself to become the best financial institution in Asia. The change of name is part of the company's plan to launch the brand image overseas. The names at CTBC's foreign branches will immediately be changed, whereas domestic branches and other business operation locations will officially launch the new name as part of larger redecoration efforts or relocation.
CTBC is considered the most internationalized finance institution in Taiwan, spreading out to as many as 11 countries including the U.S., Canada, Japan, Indonesia, the Philippines, India, Thailand, Vietnam, Hong Kong, Singapore and China. It owns up to 68 overseas branches.
CTBC operations include deposits, loans, guarantees, foreign exchange, offshore banking units (OBU), trusts, credit cards, cash cards, securities, bonds, proprietary futures, derivative financial products, factoring, safe deposit boxes, electronic banking services, and the national lottery.
Amid the government's policy to liberalize economic ties between Taiwan and China, CTBC has sought to expand their operations into China. At the same time, CTBC has aimed at creating a close-knit international network by developing close ties with foreign branches in Southeast Asia, the U.S. and China.
CTBC, which is aspiring to become a powerhouse international financial institution, has collected numerous awards this year. FinanceAsia gave the firm awards for Best Managed Company, Best Corporate Governance, Best Investor Relations and Best Corporate Social Responsibility.
Other awards include Best Investor Relations Company from Corporate Governance Asia; Best Managed Company in Taiwan and Best Managed Company in the Banking and Financial Sector from Euromoney; Best Foreign Exchange Bank in Taiwan and Best Trade Finance Bank in Taiwan from Global Finance; and Best Domestic Custodian Bank in Taiwan from The Asset.