96
2008
2008
CONTENTS
MESSAGE TO OUR SHAREHOLDERS 2
COMPANY BACKGROUND 4
ORGANIZATION CHART 5
DATA ON DIRECTORS AND SUPERVISORS 6
INFORMATION ON PRESIDENT, EXECUTIVE VICE 8
PRESIDENTS, SENIOR VICE PRESIDENTS, VICE
PRESIDENT, MANAGERS OF DEPARTMENTS
REVIEW OF OPERATIONS 9
MARKET ANALYSIS 14
BUSINESS PLANS 18
INDEPENDENT AUDITOR’S REPORT 22
HEAD OFFICE AND BRANCHES 89
1
2
Looking back at 2008 we see how the real estate bubble in the United States gave rise to the subprime mortgage crisis and financial derivative liquidity problems, bringing on a slowdown in global growth and a rise in inflation and, further, leading to the bankruptcy of Lehman Brothers, the merger of Merrill Lynch, and the takeover of AIG Insurance by the government, all of which stirred up the extremely severe financial tsunami and ravaged the world economy. The euro zone and Japan followed the U.S. into recession, bringing the world economy into even more straitened circumstances. Even the BRIC countries and emerging economies, which the market had originally viewed with such favor, were not spared; they too were confronted with severe economic problems, including recession and deflation. Central banks immediately carried out large interest-rate reductions and injected money into financial markets; but the crisis of confidence had already spread and financial institutions everywhere rushed to protect themselves by tightening up their money supplies, causing revolving-fund problems for many companies and, in some cases, leading to bankruptcy. The result was large-scale downsizings and a flood of job losses. This, according to the International Monetary Fund (IMF), would confront the world’s economy with the worst financial crisis and economic recession since the Great Depression. It now appears that the global economic decline will last to the end of 2009 before recovery can begin, and that even then the recovery will be weak and sluggish.
The international financial tsunami and global stock-market crashes of 2008 had a severe impact on Taiwan, bringing on a contraction of wealth, weak private consumption, and stagnant industrial investment—and even, in December, the greatest shrinkage of import and export value on record. This has sunk Taiwan’s economy into unprecedented difficulties. To overcome this economic crisis the government implemented a consumption-voucher policy, an investment program to revitalize the economy by expanding public construction, and an employment expansion program, all designed to alleviate the economic recession caused by the financial storms and to weather this year’s financial crisis in the expectation that a stable recovery will start at the end of 2009.
Amidst the trying conditions and rapid changes that beset the financial environment in 2008, the Shin Kong Bank managed to achieve after-tax earnings of NT$227 million. Allocations against losses during the year amounted to NT$1.93 billion, an increase of 12% over 2007. Income before allocations declined 32%. The loan business grew steadily, registering a 1% improvement for the year (including revolving credit-card loans), and the deposit/loan ratio dropped to 80%. Most of the growth in loans came from relatively low-risk home loans and small business loans. In general, this conformed to the Bank’s policy of balancing the development of business and personal loans, and of reducing overall loan risk. Processing fees from the Bank’s wealth-management business contracted 43% in 2008 because of conservative investment sentiment caused by the global financial turbulence, cutting the share of total fee income derived from the wealth-management business to 28%, down from 41% in 2007. The Bank continued to cultivate its various credit-card customer groups, boosting fee income from credit cards by 11%. Thanks to the implementation of appropriate spending controls, operating expenses dropped 8.9% in 2008.
Taiwan’s domestic financial market gradually emerged from under the clouds of the consumer-finance turbulence of the previous two years in 2008. At the Shin Kong Bank we continued to reinforce our asset quality, lower our non-performing-loan ratio, and increase our coverage; as a result, our reserves against bad loans rose from NT$1.73 billion in 2007 to NT$1.93 billion in 2008. The removal of potentially unrecoverable non-performing loans brought greater transparency to our books; our asset quality remained stable in 2008, with an overall NPL ratio of 1.87% and coverage against bad loans of 66.42%. Our credit-card quality has improved substantially since the cash- and credit-card crisis, and our credit-card NPL is steady at 1.94% with a coverage against bad loans of 130%. This has positive implications for the improvement of the quality of our credit-card assets, the reinforcement of our financial structure, and the pragmatic improvement of our operating model.
Message to our Shareholders
3
In response to impact of the global financial storms, Fitch Ratings reflected the pressure on the Shin Kong Life Insurance Co. (the largest subsidiary of the Shin Kong Holding Co.) in maintaining an appropriate level of capital by revising the credit outlook of Shin Kong Financial Holding all its subsidiaries (Shin Kong Life Insurance, Shin Kong Bank, and Shin Kong Securities) to negative in October 2008; Shin Kong Bank, however, maintained its domestic long-term credit rating at A(twn) and its short-term rating at F1(twn). Taiwan Ratings also reflected the factors noted above in January 2009 by placing the Bank on the CreditWatch Negative list, with a long-term credit rating of twAA and a short-term rating of twA-1+.
The major recession suffered by the global economy in 2008 is an established fact, and the risks that the economy faces continue to increase. While the revitalization programs instituted by governments everywhere can offset some of the unfavorable impact of the recession, the economic crises in European and American countries might continue to worsen this year, leading to disorder in financial markets and spreading the shadows of deep recession over the economy once again. This situation is prompting economic forecasting institutions at home and abroad to lower their projections of global economic growth. In Taiwan, the growth of exports, private investment, and private consumption is limited by the recession in major economies throughout the world, making any significant growth difficult to achieve. However, the breakthroughs in cross-straits developments following Taiwan’s presidential election, plus the programs being vigorously implemented by the government to revitalize the economy, will help bring moderate growth to domestic demand, gradually pulling the island out of recession and onto the road to renewed growth.
The Shin Kong Bank has established a representative office in Ho Chi Minh City and is applying to the Hong Kong authorities to set up a branch there in order to strengthen our international competitiveness. In the future we will continue cooperating with other members of the Shin Kong Holding Group to achieve synergies of integrated marketing, thereby greatly enhancing the performance of our financial operations and substantively advancing the development of our banking business. This will also facilitate the development of new financial businesses and the introduction of the latest wealth-management products to satisfy the financial needs of different customer groups, expand the scale of our operations, and provide a complete range of financial services. In pursuit of this vision we expect to achieve a growth of 2% in interest-producing loans and to earn a wealth-management fee income of NT$480 million in 2009. With the support and care that you our shareholders, directors, supervisors, and customers have favored us over the years, the Shin Kong Bank will continue to strive tirelessly to boost itself and the Shin Kong Holding Co. to new heights of achievement in serving our shareholders and the people of society in the years to come.
4
Prior to its reorganization into a commercial bank under the name of Macoto Bank in January 1997 the Bank had a long history, originating from the establishment of the Taipei Third Credit Cooperative in April 1918 under its previous name, Manka Credit Union. It was established by a group of gentry to serve as a financial institution for the local people.
With the promulgation of new laws by the government of the Republic of China following Taiwan’s restoration to China in 1945, the Manka Credit Union received permission in July 1946 to reorganize itself into the Taipei Manka Credit Cooperative. In June 1966, in response to another revision of laws, the Bank was reorganized again into a guaranteed responsibility organization under the name of Guaranteed Responsibility Taipei Third Credit Cooperative—that is, the Taipei Third Credit Cooperative as it existed until it was reorganized yet again into a bank.
After reorganization into a bank the company cooperated with the government and worked to help solve financial problems by taking over the Second Hsinchu Credit Cooperative in 1997, setting Taiwan’s first example of a private bank merging a credit cooperative. The next year the Bank took over the Eighth Taichung Credit Cooperative and expanded its operations into central Taiwan. At the beginning of September 2001 it took over the Second Chiayi Credit Cooperative and, and in the middle of the same month acquired the Gangshan Credit Cooperative under the operation of the Financial Reconstruction Fund. This helped expand the Bank’s operation to all of Taiwan, with a total of 80 branches.
In 2005 the Bank responded to the trend of development in the financial market and to the government policy of financial reform by becoming a member of the Shin Kong Financial Holding Co. as a wholly owned subsidiary on Oct. 3. That same year the holding company moved to expand the operation scale of the banking platform under its banner and enhance its competitiveness by merging Macoto and the Taiwan Shin Kong Commercial Bank (itself the result of a merger between the Taichung Sixth Credit Cooperative and the First Pingtung Credit Cooperative on July 1, 2000 to form the United-Credit Commercial Bank, which was renamed Taiwan Shin Kong Commercial Bank on Nov. 15, 2004). Taiwan Shin Kong Commercial Bank Co., Ltd., the surviving entity, now has 108 branches throughout Taiwan.
Mutually beneficial cooperation among members of the financial holding company in the future will bring about significant marketing and revenue synergies and greatly enhance the efficiency of operations, resulting in real advancements in the banking business, enlarged operation scale, and the provision of more comprehensive financial services.
Company Background
5
Organization Chart
6
Data on Directors and SupervisorsUp to May 31, 2009
Title Name Prime (Education) ExperiencesCurrent Bank & Other Positions
Chairman
Shin Kong Financial Holding Co., Ltd. Representative: Tseng-Chang Lee
President, Pin Tung First Credit Cooperative, President, United-Credit Commercial Bank, Department of Agricultural Economics, National Taiwan University EMBA, National Sun Yat-Sen University
Director of Shin Kong Insurance Brokerage Co., Ltd.
Director
Shin Kong Financial Holding Co., Ltd. Representative: Ching Tai Huang
Vice President, Macoto Bank,Department of Public Finance and Tax Administration, National Taipei College of Business
Director of Shin Kong Marketing Consultant Co., Ltd.
Director
Shin Kong Financial Holding Co., Ltd. Representative: Michael S.C. Hung
Managing Director, Trition Management Corp.President, Centillion Venture Capital Corp.Director, Shin Kong Life Insurance Co., Ltd.Director, Shin Kong Financial Holding Co., Ltd.Director, Shin Kong Insurance Co., Ltd.MBA, Chaminade University of Honolulu
Supervisor of Shin Kong Life Insurance Co., Ltd.
Director Shin Kong Financial Holding Co., Ltd Representative: Benson Wu
Director, Shin Kong Insurance Co., Ltd. Bi-Master, University of Southern California
Director of Shin Kong Security Co., Ltd.
DirectorShin Kong Financial Holding Co., Ltd. Representative: Po-Fong Lin
Shin Kong Group,President, Yue Yuen Development Co.President, Taiwan Shin Kong Security Co., Ltd.BA, College of Law, National Taiwan University
Vice Chairman of Shin Kong Security Co., Ltd.Director of eTech Pro. Co., Ltd.
Director
Shin Kong Financial Holding Co., Ltd. Representative: Yi-Chung Hsieh
General Manager, Corporate Planning Dept., Shin Kong Financial Holding Co., Ltd.Senior Manager, Secretariat Div,Shin Kong Life Insurance Co., Ltd.MBA, University of North Texas
Supervisor of Shin Kong Insurance Brokerage Co., Ltd.
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Title Name Prime (Education) ExperiencesCurrent Bank & Other Positions
Director
Shin Kong Financial Holding Co., Ltd. Representative: Sheng-Yung Yang
Vice President, Risk Management Dept., Shin Kong Financial Holding Co., Ltd. Dept. of Accountancy, National Cheng Kung University
Supervisor of Shin Kong Investment Trust Co., Ltd.
DirectorShin Kong Financial Holding Co., Ltd. Representative: Po-Han Lin
Director, Shin Kong Financial Holding Co., Ltd.Director, Shin Kong Insurance Co., Ltd.Master, Department of Economics, Meiji University (Japan)
Director of Shin Kong Life Insurance Co., Ltd.
Independent Director
Shin Kong Financial Holding Co., Ltd. Representative: Ching-Shui Kuo
Vice President, Hua Nan Commercial BankChairman, Hua Nan Investment Trust Co., Ltd.Dept. of Economics, Tunghai University
Independent Director of Shin Kong Securities Co., Ltd.
Independent Director
Shin Kong Financial Holding Co., Ltd. Representative: Sheng Yih Hu
General Manager, International Commercial Bank of China, New York BranchFirst Vice President, Mega BankMaster degree in Economics at Yale University, and a Master degree & a Doctoral degree at Chinese Culture University
Independent Director of Shin Kong Securities Co., Ltd.
Supervisor
Shin Kong Financial Holding Co., Ltd Representative: Chung-Ho Chen
Chairman of the Board and Managing Director, Taichung Sixth Credit Cooperative,Managing Director, United-Credit Commercial BankNational Taichung Second Senior High School
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Supervisor
Shin Kong Financial Holding Co., Ltd. Representative: Sung-Tsung Chen
Project Manager, Shin Kong Life Insurance CompanyDirector, Shin Kong Bank Dept. of Accounting, Tamkang University
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Information on President, Executive Vice Presidents, Senior Vice Presidents, Vice Presidents, and Managers of Departments
Title Name
Chairman and President Tseng-Chang Lee
Chief Legal Officer Daniel J. Chen
Executive Vice President Wu-Ling Wang
Executive Vice President Shi-Hseng Wang
Executive Vice President Hung Jen Huang
Executive Vice President Ching Tai Huang
Chief Auditor Mei Ching Yang
Chief Technology Officer Ivan Chang
Senior Vice President Min-Yi Huang
Senior Vice President Po-Yang Chiu
Senior Vice President George C. M. Chang
Senior Vice President, Human Resources Dept. Cing Biao Wang
Senior Vice President, Auditing Dept. Lieh-Kuang Lin
Vice President, Wealth Management Dept. Sunny Lin
Vice President, Business Development Dept. David C. K . Lu
Vice President, Corporate Banking Dept. Pei–Kuang Chi
Vice President, General Affairs and Adm. Dept. Chih-Chang Chen
Vice President, Information Technology Service Dept. Yi-Sun Lee
Vice President, Consumer Banking Dept. Vincent Lin
Vice President, Treasury Dept. Jerry Lin
Vice President, Finance & Accounting Dept. Huan Wen Chen
Vice President, Personal & Mortgage Loan Dept. Kun Ming Lin
Vice President, Remedial Management Dept. Fea Chin Huang
Vice President, Customer Service Dept. David Chiang
Vice President, Trust Dept Eric Y. C. Wu
Vice President, Secretary Div. Chin-Chu Sung
Vice President, Risk Management Dept. Shu Feng Hsueh
Vice President, Credit Review Dept. Yu Su Huang
Vice President, E-Commerce Dept. Tzu Ming Yang
Vice President, International Banking Dept. Chen Chi Shieh
Vice President, Offshore Banking Unit Ar Tsae Huang
As of March 31, 2009
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1. DepositsThe amount of deposits in the Bank in 2008 was N$356,180 million (excluding interbank deposits). This was an increase of NT$30,236 million over 2007, for a growth of 9.27%.
Deposit balance for the past two years Unit: NT$ million
Review of Operations
2. LoansThe Bank’s outstanding loans in 2008 totaled NT$283,587 million. This was NT$4,804 million more than the year before, for a growth of 1.72%.
Loans outstanding for the past two years Unit: NT$ million
3. Wealth ManagementThe Bank’s wealth-management business was affected by the global financial tsunami in 2008; its fee income from this business amounted to just NT$528 million, down NT$273 million from the NT$801 million earned the year before. The amount of the Bank’s non-discretionary trust funds increased from NT$73.109 billion at the beginning of the year to NT$103.753 billion at year-end, for a growth of 41.92%; this increased the Bank’s market share from 1.84% to 3.13% and boosted its market ranking from 16th to 11th.
4. Consumer Banking The lingering effects of the cash- and credit-card crisis of 2006 and the recession of 2008 caused a slump in the consumer banking market. According to data from the Banking Bureau of the Financial Supervisory Commission, the total amount of
Items 2008 2007 Increase (Decrease)
Demand deposit
Checking account deposits 4,842 5,121 (279)Government bank deposits 75 63 12Demand deposits 38,287 24,323 13,964Saving-Demand deposits 69,458 74,770 (5,312)Subtotal 112,662 104,277 8,385
Time depositTime deposits 97,980 75,648 22,332Savings Time deposits 145,538 146,019 ( 481 )Subtotal 243,518 221,667 21,851
Total deposits 356,180 325,944 30,236
Items 2008 Amount 2007 AmountIncrease (Decrease)
Amount
Secured loans 193,983 180,992 12,991Unsecured loans 89,604 97,791 (8,187)
Total loans 283,587 278,783 4,804Total Loans to Total Assets 70.39% 72.26%
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outstanding consumer loans in the banking industry shrank from NT$748.3 billion at the end of 2007 to NT$670.5 billion at the end of 2008, a decline of 10.4%. The Shin Kong Bank was also affected, its outstanding consumer loans dropping from NT$24.911 billion at the end of 2007 to NT$23.284 billion at the end of 2008; this represented a reduction of 6.5%, which was better than the performance of the industry as a whole. Changes in the Bank’s consumer banking business for the past two years are shown below:
Change in amount of consumer loans over the past two years Unit: NT$ million
Note: The Bank stopped issuing new cash cards in November 2005, and the following month began actively recovering the outstanding amount on old cards; at the end of December 2008, the amount outstanding on the Bank’s cash cards stood at NT$38 million.
5. Corporate Banking(1) Scope of Business
a. Short-, medium-, and long-term loans. b. Discounting of negotiable instruments. c. Acceptance of commercial bills. d. Issuance of domestic letters of credit. e. Domestic guarantees. f. Purchasing of exporters’ receivables and transfer of the purchased receivables to factoring companies. g. Purchasing of domestic receivables produced by domestic sales by domestic enterprises.
(2) Status of Operations in 2008 The amount of corporate loans outstanding at the end of 2008 was NT$127.6 billion; compared with the end of 2007
this was an increase of about NT$124 million, for a growth of 0.1%. The amount of small and medium business loans outstanding at the end of the year was NT$7.076 billion, up 51.03% over a year earlier.
Corporate Banking for 2007 and 2008 Unit: NT$ thousand
Risk-free fee income from the corporate banking business amounted to NT$144.51 million in 2008, down approximately NT$35.93 million from 2007 for a reduction of 19.91%. Risk-free fee income from the SME business in 2008 amounted to NT$17.69 million.
Unsecured personal Loans Car Loans
Credited Amount Year-end Balance Credited Amount Year-end Balance
2007 10,869 24,911 3,990 5,9742008 11,440 23,284 2,642 4,709
Change 571 (1,627) (1,348) (1,265)
Item / Year 2008 Amount 2007 Amount Change
Corporate Banking business 127,616,692 127,492,630 124,062SME loans business 7,076,379 4,685,170 2,391,209Total 134,693,071 132,177,800 2,515,271
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6. Personal and Mortgage Loans(1) Scope of Business
Provision of loans secured by real estate or securities as collateral.(2) Status of Operations in 2008
Distribution of loans outstanding at year-end 2008, by region: Taipei County and City: 42.92% Taoyuan, Hsinchu, and Miaoli areas: 10.67% Taichung, Changhua and Nantou areas: 27.65% Yunlin, Chiayi and Tainan areas: 5.73% Kaohsiung and Pingtung areas: 11.48% Eastern Taiwan area: 1.55%
Unit: NT$ thousand
Items 2007 2008 Increase (Decrease) % of Growth
Interest-bearing loans outstanding 114,833,765 119,554,607 4,720,842 4.11%
Non-accrual loans outstanding 830,467 860,546 30,079 3.62%
Outstanding loan 115,664,232 120,415,153 4,750,921 4.11%
Past due loan ratio (over 90 days) 0.99% 0.90% -0.09%
(3) The accumulated amount of newly disbursed real estate loans in 2008 was NT$34.08 billion, producing an operating income of NT$3.767 billion (including interest, fees, penalties, and delayed-payments interest).
7. Trust BusinessThe Bank’s sales of non-discretionary domestic trust funds in 2008 amounted to NT$11,041 million, sales of non-discretionary overseas trust funds amounted to NT$23,765 million, sales of non-discretionary overseas bond funds (including OBU sales) amounted to NT$51,094 million, the value of securities certified amounted to NT$3,601 million, the value of securities recertified was NT$4,826,182 million, the value of other trust fund assets was NT$1,274 million, the value of securities trust assets amounted to NT$23 million, the value of bond trust assets stood at NT$573 million, real estate trust assets amounted to NT$6,378 million, and the amount of funds under custodianship totaled NT$1,192 million. Changes in these trust funds compared with 2007 are shown in the following chart:
Unit: NT$ million
Items 2008 2007 Increase (Decrease)
Non-discretionary domestic trust funds 11,041 24,011 (12,970)
Non-discretionary overseas trust funds 23,765 48,428 (24,663)
Non-discretionary overseas bond funds (including OBU) 51,094 15,184 35,910
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Items 2008 2007 Increase (Decrease)
Securities certification 3,601 13,114 (9,513)
Securities recertification 4,826,182 1,899,944 2,926,238
Commercial trust funds assets 1,274 484 790
Securities trust assets 23 34 (11)
Bond trust assets 573 1,677 (1,104)
Real estate trust assets 6,378 4,551 1,827
Trust Funds under custodianship 1,192 4,434 (3,242)
8. Investment Business Unit: NT$ Thousand
ItemsDecember 31, 2008 December 31, 2007
ChangeAmount % Amount %
Bonds 21,779,208 29.94% 17,240,438 27.95% 4,538,770
Financial Debenture 0 0% 700,000 1.13% (700,000)
Corporate Bonds 5,854,291 8.05% 3,086,627 5.00% 2,767,664
Stocks 3,183,646 4.38% 3,058,145 4.96% 125,501
Beneficiary Certification 2,249,831 3.09% 1,983,043 3.22% 266,788
Beneficiary Securities 2,124,731 2.92% 2,082,563 3.38% 42,168
Overseas Marketable Securities 8,416,961 11.57% 8,675,507 14.07% (258,546)
Credit-combination product 328,600 0.45% 0 0% 328,600
Inter bank call loan 4,084,984 5.62% 2,588,136 4.20% 1,496,848
Re-deposits 24,700,000 33.96% 22,260,000 36.09% 2,440,000
Short-term Bills 11,572 0.02% 0 0% 11,572
Total 72,733,824 100.00% 61,674,459 100.00% 11,059,365
9. International Banking Business The amount of import, export, and overseas remittance businesses handled by the Bank in 2008 totaled US$5,289 million; this was an increase of US$830 million over the previous year, for a growth of 19%. Foreign currency deposits at the end of December totaled US$638 million, an increase of US$49 million over a year earlier for a growth of 8%.
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10. Credit cards BusinessThe impact of the financial tsunami and the global recession in 2008 led to a slump in consumer confidence and a substantial contraction of the consumer market. The number of Shin Kong Bank-issued credit cards in circulation at the end of 2008 stood at 945,000, of which 412,000 were valid cards; despite the severe conditions in the external environment and a decline in number of credit cards, the amount of transactions using the cards during the year still managed to increase by 0.96% compared with 2007, indicating a rise in the buying power and contributions of the Bank’s cardholders. Following the experience of the cash- and credit-card crisis, the Credit Card Department has placed continuous emphasis on strengthening credit investigation, risk management, and asset quality in order to heighten its overall income.
Items 2008 2007 Increase (Decrease) % of Growth
Cards in circulation 945,335 1,091,130 (145,795) -13.36%
Valid cards in circulation 411,522 445,458 (33,936) -7.62%
Aggregate credit amount (NT$ thousand) 37,976,108 37,613,880 362,228 0.96%
Revolving credit-card loans outstanding (NT$ thousand) 4,952,674 6,130,760 (1,178,086) -19.22%
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A brief description of the relationship of major Taiwan economic indicators to the possible future supply and demand situation in the market follows:
1. Supply(1) Status of financial institutions:
According to statistics compiled by the Central Bank, at the end of December 2008 financial institutions in Taiwan had a total of 6,409 units divided into 418 headquarters and 5,991 branches. This means that fierce price competition among the institutions will continue in the short term, and that small and medium-sized banks without the support of group assets provided by financial holding companies will face more stringent challenges than ever.
Year Total Financial Institutions Total Branches
2003 433 5,930
2004 428 5,922
2005 422 5,943
2006 415 5,970
2007 417 5,977
2008 418 5,991
Data Source: “Monthly Report of Financial Statistics in Taiwan, Republic of China”, Central Bank
(2) Deposits: Deposits in Taiwan’s banking system at the end of December 2008 totaled NT$20,993.5 billion, an increase of 8.69%
over a year earlier.
2. DemandThe international financial tsunami and stock market crashes that shook the world over the past year have had a heavy impact on Taiwan, not only causing the people’s wealth to shrink, private consumption to weaken, and industrial investment to stagnate, but also leading to the greatest drop in import and export value (in December, 2008) since records began. This has left the island’s economy in unprecedented straits. The government has moved to overcome the crisis by introducing a number of revitalization measures, including the issuance of consumption vouchers, an investment plan to boost the economy through expanded public construction, and a program to expand employment. The objective of these measures is to alleviate the economic recession caused by the financial storms, weather the economic crisis, and bring about the beginning of a stable recovery by the end of 2009.
3. Growth ProspectsThe severe global economic recession is, generally speaking, an accomplished fact, and the economy is facing more and more risks. While the government’s economic revitalization measures can alleviate some of the impact of the global recession, there is a possibility that the economic crisis in Europe and America will continue to deteriorate, leading to disorder in global financial markets and once again spreading dark shadows over the economy. Numerous domestic and foreign economic forecasting
Market Analysis
15
institutions are adjusting their growth projections downward because of this situation. The recession in major economies around the world will limit growth prospects for Taiwan’s exports, private investment, and private consumption, making it difficult to achieve any substantial improvement. The breakthrough developments in cross-straits relations following the presidential election, however, along with the government’s robust economic revitalization programs, will facilitate a moderate growth in the domestic-demand market and gradually pull Taiwan out of recession and onto the road to recovery.
4. Favorable and Unfavorable Factors in Growth Prospects:(1) Favorable Factors
a. External Environment: (a) The consolidation of financial institutions will alleviate the problem of excessive competition produced by over-
banking. (b) Cross-industry operations and alliances will favor the diversified development of the banking industry. (c) The opening of the market to new financial products will increase the demand for related personnel to develop
more products and provide customers with a more complete range of financial services, while also allowing banks to utilize their funds more effectively.
(d) The rapid development of technology and the Internet will facilitate the development of e-banking services, thereby lowering banks’ operating costs; at the same time, the development of virtual banking channels will extend the reach of operations infinitely.
b. Internal Advantage: (a) The Bank’s vast network of branches, concentrated mainly in the Greater Taipei area where economic activity is
most intense, will strengthen the Bank’s competitive advantage in business development. (b) The backing of the financial holding company’s integrated resources will enhance cross-marketing capability and
help realize economies of scale. (c) High-quality human resources will reinforce the Bank’s financial innovation and product development capabilities.
(2) Unfavorable Factors a. Taiwan remains over-banked and price-slashing competition continues to exist, eroding bank’s profitability. b. The rise of consumer consciousness and the continuous increase in customer demand for financial planning reduces
customer loyalty and increases customer turnover. c. The limited size and over-banked condition of the domestic market affect the ability to expand business.
5. Counterstrategies Adopted by Shin Kong Bank The Bank will work with the other members of the financial holding group to realize the synergies of integrated marketing and promotion. This will greatly enhance the Bank’s business development, and will facilitate the development of new types of financial business and the introduction of the latest financial-planning products that will satisfy the needs of different customer groups while enlarging the Bank’s scale of operations and providing a more complete range of financial services.
Overview of Research on Financial Products, and Business Development 1. Research and Development Spending for the Past Two Years
To achieve the overall digitization of its loan assessment and enhance the efficiency of its loan-assessment operations, the Bank planned an installation progragram lasting about 3.5 years and costing nearly NT$100 million. The program started in 2007, and corporate and small credit loan assessment operations, as well as real estate appraisal operations, were able to be put online in the first half of 2009. The Bank invested almost NT$6 million from 2006 through 2008 to upgrade operating
16
risk management, and installed operating risk management tools in its different units. In the future the Bank will continue investing money and manpower in this effort with the aim of moving toward advanced risk management methods. To achieve a steady enhancement of loan assessment performance, from 2006 through 2008 the Bank invested more than NT$10 million in the installation of related management mechanisms; and, to give the Bank’s financial product information greater transparency, a market risk management system will be installed in line with the progress of the mother financial holding company’s project, thereby steadily establishing related risk assessment and management mechanisms.
2. Research Results for the Past Two Years (1) Foreign Exchange Business:
a. To strengthen services to Internet banking customers, the Bank received permission in October 2008 to inaugurate the “OBU Internet Banking” business.
b. Dealing in Renminbi cash was inaugurated on July 11, 2008.(2) Risk Management Business:
a. Operational Risk The Bank invested almost NT$6 million from 2006 to 2008 in the establishment of advanced risk management
methods, and operating risk management tools have been installed in the Bank’s different units. Money and manpower will continue to be invested in the upgrading of risk management mechanisms and movement toward advanced capital allocation in the future.
b. Credit Risk The Bank invested almost NT$20 million from 2006 to 2008 in the establishment of management mechanisms
designed to make loan assessment more effective. In the future, this investment will be continued with the aim of strengthening the management of loan assets.
c. Market Risk Since 2008 the Bank has been installing a market-risk management system in line with the progress of the mother
financial holding company’s project, establishing related risk assessment and management mechanisms to make the Bank’s financial products more transparent. In the future, the Bank will continue investing money and manpower in the establishment of front- and mid-office systems to strengthen the management of financial asset positions and quotas.
(3) Overall Digitization of Loan Assessment Operations To enhance the efficiency of loan assessment operations, the Bank planned a 3.5-year installation schedule costing almost
NT$100 million to digitize loan assessment operations bank-wide and shorten the time needed for assessment. The program started in 2007 and corporate and small credit loan assessment, as well as real estate appraisal operations, were able to be put online in the first half of 2009.
3. Future R&D Plans(1) Development of the product package business: Deposit, loan, and investment planning products will be linked to provide
customers with one-stop financial services and products with greater diversity and flexibility. (2) Establishment of a wealth-management knowledge management (KM) website: The Bank’s core knowledge in the wealth-
management business will be established and stored, and related information will be passed on to the Bank’s employees through the training function of the wealth-management knowledge management website so that all staff members will be able to use specialized wealth-management know-how and share in it speedily and effectively.
(3) The advanced capital requirement method of Basel II will be implemented in order to enhance the Bank’s risk-management mechanism and asset quality.
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(4) Following the experience of the cash- and credit-card turmoil, the Credit Card Department will continuously reinforce its risk-control measures and implement the bank-wide cardholder review mechanism on a scheduled basis, and will also revise its risk-scoring model, so as to reduce the risk of default.
(5) The consumption behavior of cardholders will be observed and segmented marketing will be carried out, and the resources of the financial holding company’s subsidiaries will be integrated along with the incentive activities of co-branding companies for offerings such as preferential rates for physical examinations at the Shin Kong Wu Ho-Su Memorial Hospital, accommodation at the Chao Feng Ranch and Resort, and travel on Japan Airlines so as to reinforce the loyalty of top-of-the-pyramid as well as ordinary cardholders, effectively heighten purchases by cardholders, and increase the Credit Card Department’s commission income.
Short-Medium- and Long terms Business Development Plans1. Short-term Goals
(1) Loans a. Strengthening of the interest-rate negotiation ability so as to heighten operating income and increase the Bank’s real
profits. b. Balancing of development of the personal and corporate businesses, and reinforcement of the monitoring of asset
quality.(2) Wealth management: Emphasis on the strict selection of wealth-management products, precise management of financial-
planning personnel, risk management in sales operations, and enhancement of the professional abilities of financial-planning personnel in wealth-management development strategy so as to reinforce expansion of the Bank’s wealth-management business.
(3) Continuous strengthening of credit-card risk and cost control, development of new cardholder sources, and heightening of the amount of card purchases so as to increase overall income.
(4) Active promotion of the cash-management business so as to strengthen development of the demand-deposit business, lower operating capital costs, and heighten profits.
2. Medium- and- Long-term Goals(1) Establishment of a comprehensive standardized, centralized, and automated operating center that will reinforce customer
services, satisfy customer demand, and lower operating costs through efficient integrated operations.(2) Establishment of a bank-wide integrated risk management system that complies fully with the rules of Basel II.(3) Continuous enhancement of loan quality and development in the direction of internationalized financial operations.(4) Development of the package products business to satisfy customer demand for one-stop financial services by linking
deposit, loan, and investment-planning products that provide customers with a greater diversity of more flexible financial products and services.
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I. Strategic Goals1. Development of the cash management business and expansion of demand deposits.2. Strengthening of the interest-rate price negotiation ability and expansion of no-risk fee income so as to increase operating
income.3. Balanced development of the corporate and consumer loan businesses, and strict control of loan quality.4. Strengthened control of risks and costs in the credit-card business and upgrading of card purchases so as to boost
profitability.5. A firm grasp of market trends and implementation of customer care, and revitalization of the wealth-management
business.6. Upgrading of resource utilization efficiency and effective lowering of operating costs.7. Enhancement of service quality and consolidation of the Bank’s foundation for business development.
II. Operating Plans for 2009 1. Consumer Banking Business
In response to the impact of the cash- and credit-card turmoil of 2006, banks continue to halt the handling of unsecured consumer loans, tighten up loan conditions, or lower loan amounts. Although this market remains in a slump, the Bank is moving ahead at an active and steady place to augment profits through a stable loan interest gap while assuring profitability through good loan quality. Following are the Bank’s operating plans for 2009:a. Continuous widening of the interest spread and enhancement of consumer loan asset quality: In its consumer banking
business the Bank will use differential pricing based on such conditions as the borrower’s type of occupation and loan risk, creating profit through an interest-rate spread that is better than that of other types of loans and is thus worthy of development. In the field of asset quality the Bank will use strict loan-approval conditions and pinpoint high-quality customers as its target group, and will raise the ratio of loans with guarantors or ancillary guarantees so as to lower credit risk.
b. Credit investigation and management system and credit scorecard system online in mid-2009: Following preliminary screening in the branches, loan application documents will be sent via the credit management system for assessment; this will not only save on paper and other costs, but will also boost efficiency by reducing the time needed for document transmission. The credit scorecard system will help loan-assessment units to unify loan-extension standards and facilitate the monitoring of credit risk.
c. Stable handling of car loans: Outstanding car loans in the banking system were down by 28% compared with the end of 2007, but Shin Kong Bank suffered a decline of only 7%; in addition, its national ranking in this business rose from 8th to 6th. Besides carrying on with the stable operation of 2008, in 2009 the Bank will strengthen its control of business costs in order to create maximum profits with minimum manpower.
2. Corporate Banking BusinessThe Bank’s key corporate banking strategies for 2009 are as follows:a. The financial holding company will integrate the marketing resources of its related companies to strengthen the cross-
sales and cross-marketing model and expand service scale through the synergies of consolidation.b. The domestic and overseas factoring business will be strengthened so as to heighten the ratio of fee income, and
planning will be carried out for the establishment of the corporate cash management business and integrated e-business money-flow service.
Business Plans
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c. The Bank will engage actively in the organizing of syndicated loans for traditional industries and Taiwanese businesses abroad.
d. The development of corporate customers that offer both safety and profit will be strengthened with the aim of boosting price-negotiation capability through service efficiency, and the loan business will be expanded in coordination with trust and foreign exchange products so as to increase interest and fee income.
The amount of corporate loans extended by the Bank is expected to achieve a net growth of NT$9.6 billion in 2009.The Bank’s key small and medium enterprise loan business strategies for 2009 are as follows:
Customer cash-flow analysis will be emphasized, with the backing of collateral, to strengthen loan quality; further, the spirit of localized service to customers will be manifested through the handling of loans by the Bank’s 108 branches, thereby expanding the SME loan base and achieving the goal of enhancing quantity and quality at the same time.
3. Personal and Mortgage Loan Businessa. Housing prices started a continuous decline in the last half of 2008, with an imbalance in supply and demand and
weak buyer confidence in house prices. Real estate transactions stagnated. The problem was exacerbated by a constant increase in domestic unemployment and a rise in defaults. To control loan risk and heighten risk consciousness effectively, Shin Kong Bank will closely observe changing conditions in the real estate market and adjust its home-loan strategies whenever necessary.
b. The series of reductions in the rediscount rate and deposit reserve rate that the Central Bank instituted in the latter part of September 2008 caused a constant shrinkage in the interest-rate spread on home loans. The price-negotiating capability the Bank’s business units will be strengthened in order to heighten operating income.
c. The management of old loans will be strengthened and monthly evaluation and analysis of the reasons for customer cancellations will be carried out with the aim of responding immediately, reinforcing management, and avoiding customer loss.
4. Trust Business This year the Bank’s trust business will be centered on the healthy development of the wealth management business,
with full attention to controlling customers’ investment risk and adherence to the supreme principles of considering both customer risk and Bank income in the introduction of new products. The Bank also hopes to carry out the step-by-step development of non-financial-planning trust businesses with the aim of providing customers with long-term asset planning under a comprehensive trust framework. To this end, during the present year the Bank will continuously promote such trust products as insurance-fund trust, child development trust, parental care trust, inheritance trust, retirement trust, real estate trust, securities trust, condominium trust, living trust, advanced payment trust, trust of encumbrance and related security interests, and compulsory property trust for government officials. Since the types of trust business mentioned above involve the long-term disposition of assets for customers and encompass a very wide range of aspects, the Bank will place its emphasis on product innovation and development, business planning, branch personnel training, direct marketing, the establishment of operating procedures for individual cases, back-office management operations and customer services, the establishment of related systems, and enhancement of the ability to deal with tax and related legal issues, all with the aim of providing customers with a low-risk wealth management platform.
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5. International Banking Business a. In response to financial globalization, the Bank will continuously apply to establish foreign-exchange branches in order
to expand the foreign exchange and international financial businesses.b. The Bank will continuously train international banking personnel so as to strengthen its business competitiveness.
6. Credit Card Business In 2009 the Credit Card Department will strive to upgrade the willingness of customers to use cards for purchases,
emphasize risk control, and constantly develop outstanding customer groups. The following key areas of business will be vigorously developed in accordance with business targets and trends in the credit card market:a. VIP services will be planned, top-of-the-pyramid Infinity Card clients will be cultivated, and market segmentation will
be carried out.b. Databank resources will be used to carry out segment marketing and heighten the contribution of cardholders with
different types of consumption.c. Card consumption will be heightened and the ratio of inactive accounts reduced by working with large card promotion
activities and card-use events in major department stores.d. Aggressive planning of high-profit products will be carried out and the time-payment business will be vigorously
developed so as to increase real profitability and heighten the amount of revolving credit.e. Establishment of a customer credit scorecard, emphasise customers’ risk management and continuous control of crdit-
card assets.f. The scale of the credit card collection business will be expanded to heighten fee income and increase overall profit
sources.g. The Bank will coordinate with the financial holding company’s integrated cross-marketing plan and actively develop
new credit card customer sources by using the group’s member-company name lists.h. The co-branded card business will be constantly cultivated, and interaction with co-branding groups (Miramar, Leofoo,
Japan Airlines, N.Y. Bagels, etc.) will be used to reinforce card applications through co-branding channels.
7. Deposit and Remittances Businessa. The cash management business and e-banking services will be reinforced, and a diversified e-banking transaction
function and service platform will be developed, to enhance the quality of customer services, lower transaction costs, and boost the Bank’s competitive advantage in virtual channels.
b. The demand of customers for intelligent electronic financial planning will be satisfied by integrating the server systems for all businesses to provide intelligent financial planning management services. New financial products will also be developed so that the products and services provided by Shin Kong Bank will conform to market trends and customer needs.
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BRANCH NAME ADDRESS TEL
Head Office 26~28F&30F, No. 66, Jhongsiao W. Rd., Sec. 1, Taipei City 100, Taiwan, (R.O.C.) 886-2-23895858
International Banking Dept. 5F, No. 99, Sec.1, Hsin Sheng South Rd., Taipei City 106, Taiwan, (R.O.C.) 886-2-87710666
Business Department No.134, Sichang St., Wanhua District, Taipei City 108, Taiwan (R.O.C.) 886-2-23812160
Tung Taipei Branch 1F, No.29, Lane 11, Guang Fu North Rd., Taipei City 105, Taiwan (R.O.C.) 886-2-27685966
Lung Shan Branch No.207, Kangding Rd., Wanhua District, Taipei City 108, Taiwan (R.O.C.) 886-2-23023531
Hsi Yuan Branch 131, Sec. 2, Hsi Yuan Rd., Taipei City 108, Taiwan (R.O.C.) 886-2-23061271
Hsi Men Branch No.73, Sining S. Rd., Wanhua District, Taipei City 108, Taiwan (R.O.C.) 886-2-23145791
Da Tung Branch No.269, Sec. 3, Chongcing N. Rd., Datong District, Taipei City 103, Taiwan (R.O.C.) 886-2-25974951
Fu Hsing Branch No.311, Fusing N. Rd., Songshan District, Taipei City 105, Taiwan (R.O.C.) 886-2-27150825
Chung Hsiao Branch 1F., No.160, Yanji St., Da-an District, Taipei City 106, Taiwan (R.O.C.) 886-2-27410101
Wu Chang BranchNo.76, Lane 356, Longjiang Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.)
886-2-25059161
Cheng Pei Branch 1F., No.162, Songjiang Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.) 886~2-25652711
Cheng Nei BranchNo.115, Sec. 1, Chongcing S. Rd., Jhongjheng District, Taipei City 100, Taiwan (R.O.C.)
886-2-27348787
Tung Hu Branch1F., No.312, Sec. 6, Mincyuan E. Rd., Neihu District, Taipei City 114, Taiwan (R.O.C.)
886-2-26348787
Min Sheng Branch 2F-4F, No. 8, Sec. 3, Min Sheng E. Rd., Jhongshan District, Taipei City 104, Taiwan, (R.C.C.)
886-2-25165887
Cing Cheng Branch No.1-1, Cingcheng St., Songshan District, Taipei City 105, Taiwan (R.O.C.) 886-2-27199811
Nei Hu BranchNo.17, Lane 360, Sec. 1, Neihu Rd., Neihu District, Taipei City 114, Taiwan (R.O.C.)
886-2-27976768
Chuang Chin Branch No.330, Jhuangjing Rd., Sinyi District, Taipei City 110, Taiwan (R.O.C.) 886-2-23451888
Sung Shan Branch 2F., No.510, Sec. 5, Jhongsiao E. Rd., Sinyi District, Taipei City 110, Taiwan (R.O.C.) 886-2-23466636
Nan Gang Branch 1-2F., No.218, Chongyang Rd., Nangang District, Taipei City 115, Taiwan (R.O.C.) 886-2-27821787
Head Office and Branches
90
BRANCH NAME ADDRESS TEL
Lin Sen N Road Branch No.554, Linsen N. Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.) 886-2-25861991
Da An Branch 1F., No.177, Sec. 2, Fusing S. Rd., Da-an District, Taipei City 106, Taiwan (R.O.C.) 886-2-27551639
Hsin Chu Branch No.84, Jhongshan Rd., Hsinchu City 300, Taiwan (R.O.C.) 886-3-5215171
Chung Li Branch No.201, Jhongshan Rd., Jhongli City, Taoyuan County 320, Taiwan (R.O.C.) 886-3-4270123
Tao Yuan Branch 1F., No.207, Fusing Rd., Taoyuan City, Taoyuan County 330, Taiwan (R.O.C.) 886-3-3316996
Tung San Chung Branch No.102, Sec. 1, Chongsin Rd., Sanchong City, Taipei County 241, Taiwan (R.O.C.) 886-2-29737788
Chu Pei Branch No.372, Jhonghua Rd., Jhubei City, Hsinchu County 302, Taiwan (R.O.C.) 886-3-5552058
Lien Cheng Road Branch No.166, Liancheng Rd., Jhonghe City, Taipei County 235, Taiwan (R.O.C.) 886-2-22477330
Kuan Tung Chiao Branch No.333, Sec. 1, Guangfu Rd., Hsinchu City 300, Taiwan (R.O.C.) 886-3-5678989
Tu Cheng Branch No.122, Sec. 3, Jincheng Rd., Tucheng City, Taipei County 236, Taiwan (R.O.C.) 886-2-22705050
Lu Chou Branch 1F., No.101, Fusing Rd., Lujhou City, Taipei County 247, Taiwan, (R.O.C.) 886-2-82813182
Chien Cheng BranchNo.73, Sec. 1, Chongcing N. Rd., Datong District, Taipei City 103, Taiwan (R.O.C.)
886-2-25567227
Pei San Chung Branch No.115, Siwei St., Sanchong City, Taipei County 241, Taiwan (R.O.C.) 886-2-29875522
Yung Ho Branch No.441, Jhongjheng Rd., Yonghe City, Taipei County 234, Taiwan (R.O.C.) 886-2-32335656
Hsin Pu Branch No.21, Yunong Rd., Banciao City, Taipei County 220, Taiwan (R.O.C.) 886-2-22521919
Taichung Branch No.101, Taichung Rd., East District, Taichung City 401, Taiwan (R.O.C.) 886-4-22284113
Chung Kang BranchNo.99, Sec. 3, Taichung Port Rd., Situn District, Taichung City 407, Taiwan (R.O.C.)
886-4-23588211
Zuoying Huasia Rd. Branch No.692, Huasia Rd., Zuoying District, Kaohsiung City 813, Taiwan (R.O.C.) 886-7-3487077
Da Chia Branch No.202, Shuntian Rd., Dajia Township, Taichung County 437, Taiwan (R.O.C.) 886-4-26760020
Da Dun Branch No.5, Sec.2, Gongyi Rd., West District, Taichung City 403, Taiwan (R.O.C.) 886-4-23296236
Yuan Lin BranchNo.346, Sec. 2, Jhongshan Rd., Yuanlin Township, Changhua County 510, Taiwan (R.O.C.)
886-4-8377007
91
BRANCH NAME ADDRESS TEL
Nan Tun BranchNo.501, Sec. 2, Wucyuan W. Rd., Nantun District, Taichung City 408, Taiwan (R.O.C.)
886-4-23832121
Tung Tainan Branch No.12, Sec. 1, Jhonghua E. Rd., East District, Tainan City 701, Taiwan (R.O.C.) 886-6-2347777
Da Li Branch No.269, Defang S. Rd., Dali City, Taichung County 412, Taiwan (R.O.C.) 886-4-24835123
Sung Chu Branch No.162, Sec. 2, Songjhu Rd., Beitun District, Taichung City 406, Taiwan (R.O.C.) 886-4-22453456
Chang Hwa Branch No.341, Sanmin Rd., Changhua City, Changhua County 500, Taiwan (R.O.C.) 886-4-7235897
Shulin Branch 1F., No.116-1, Jhonghua Rd., Shulin City, Taipei County 238, Taiwan, R.O.C. 886-2-86848777
Hou Pu Branch No.178, Sec. 1, Sihchuan Rd., Banciao City, Taipei County 220, Taiwan (R.O.C.) 886-2-29617997
Ku Ting Branch No.41, Sec. 2, Roosevelt Rd., Da-an District, Taipei City 106, Taiwan (R.O.C.) 886-2-23432330
Hsih Lin Branch No.510, Wunlin Rd., Shihlin District, Taipei City 111, Taiwan (R.O.C.) 886-2-28338789
Hsin Yi Branch No.181, Sec. 4, Sinyi Rd., Sinyi District, Taipei City 110, Taiwan (R.O.C.) 886-2-27059669
Tan Feng Branch No.665, Zhongzheng Rd., Xinzhuang City, Taipei County 242, Taiwan (R.O.C.) 886-2-29083636
Peitou FushingKang Branch No.422, Sec. 2, Jhongyang N. Rd., Beitou District, Taipei City 112, Taiwan (R.O.C.) 886-2-28982399
Hsin Sheng S Rd Branch 1F, No.101, Sec.1, Hsin Sheng South Rd., Taipei City 106 , Taiwan, (R.O.C ) 886-2-87719099
Sin Ying Branch 1F, No.138, Jhong Shan Rd., Sin Ying City, Tainan County 730, Taiwan, (R.O.C.) 886-6-6378266
Tien Mu Branch No.13, Sec. 7, Jhongshan N. Rd., Shihlin District, Taipei City 111, Taiwan (R.O.C.) 886-2-28762126
Hsin Tien Branch No.311, Jhongjheng Rd., Sindian City, Taipei County 231, Taiwan (R.O.C.) 886-2-89117180
Ta Chih Branch 1-2F., No. 571, Mingshui Rd., Zhongshan District, Taipei City 104, Taiwan (R.O.C.) 886-2-85091819
Hsing Lung Branch 1F., No.133, Jinglong St., Wunshan District, Taipei City 116, Taiwan (R.O.C.) 886-2-89311099
Pa The Branch No.1032, Sec. 2, Jieshou Rd., Bade City, Taoyuan County 334, Taiwan (R.O.C.) 886-3-3658085
Lung Tang Branch No.390, Jhongsing Rd., Longtan Township, Taoyuan County 325, Taiwan (R.O.C.) 886-3-4991277
Chang An Branch1F., No.100, Sec. 2, Chang-an E. Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.)
886-2-25067366
Chia Yi Branch No.248, Jhongshan Rd., Chiayi City 600, Taiwan (R.O.C.) 886-5-2247755
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BRANCH NAME ADDRESS TEL
Tung Chia Yi Branch No.188, Minzu Rd., Chiayi City 600, Taiwan (R.O.C.) 886-5-2223633
Feng Shan Branch 1F, No.242, Sec.3, Jian Guo Rd., Feng Shan City, Kaohsiung County, Taiwan 886-7-7805966
Tainan Branch 1F, No.307, Sec.2, Ming Sheng Rd., Tainan City, Taiwan R.O.C. 886-6-2219511
Pei Chia Yi Branch 1F., No.467, Jhongsing Rd., West District, Chiayi City 600, Taiwan R.O.C. 886-5-2330367
Tou Liu Branch No.87, Jhongshan Rd., Douliou City, Yunlin County 640, Taiwan (R.O.C.) 886-5-5375586
Miao Li Branch 1F, No.567, Jhongjheng Rd., Miao Li City 360, Miao Li Taiwan (R.O.C.) 886-3-7380088
Hua Lien Branch No.484, Jhongjheng Rd., Hualien City, Hualien County 970, Taiwan (R.O.C.) 886-3-8310802
Keelung Branch 1F., No.259, Jen 1st Rd., Ren-ai District, Keelung City 200, Taiwan (R.O.C.) 886-2-24213998
Yi Lan Branch 1F., No.48, Kungfu Rd., Yilan City, Yilan County 260, Taiwan (R.O.C.) 886-3-9358178
San Shia Branch No.45, Fusing Rd., Sansia Township, Taipei County 237, Taiwan (R.O.C.) 886-2-86717616
Lu Chu Branch No.1185, Jhongshan Rd., Lujhu Township, Kaohsiung County 821, Taiwan (R.O.C.) 886-7-6975395
Kaohsiung Branch No.247, Minsheng 1st Rd., Sinsing District, Kaohsiung City 800, Taiwan (R.O.C.) 886-7-2230858
Hsin Chuang Branch No.252, Sintai Rd., Sinjhuang City, Taipei County 242, Taiwan (R.O.C.) 886-2-29965995
Jiang Tz Tsuei Branch No.428, Sec. 2, Wunhua Rd., Banciao City, Taipei County 220, Taiwan (R.O.C.) 886-2-82586288
Nan Shih Jiau Branch 1F., No.347, Jingsin St., Jhonghe City, Taipei County 235, Taiwan (R.O.C.) 886-2-29484888
Mi Two Branch No.242, Jhongjheng Rd., Mituo Township, Kaohsiung County 827, Taiwan (R.O.C.) 886-7-6178407
Kan Shan Branch1-2F., No.339, Gangshang Rd., Kan Shang Township, Kaohsiung County 820, Taiwan(R.O.C.)
886-7-6212551
Pei Kaohsiung Branch No.523, Minzu 1st Rd., Sanmin District, Kaohsiung City 807, Taiwan (R.O.C.) 886-7-3478511
Offshore Banking Unit 5F., No.99, Sec. 1, Sinsheng S. Rd., Da-an District, Taipei City 106, Taiwan (R.O.C.) 886-2-87710666
Siao Gang Branch No.292, Hanmin Rd., Siaogang District, Kaohsiung City 812, Taiwan (R.O.C.) 886-7-8025588
Jhong Hua Branch No.126, Sec. 1, Jhonghua Rd., Central District, Taichung City 400, Taiwan (R.O.C.) 886-4-22203176
Cheng Teh Branch1,2F, No.318, Sec. 4, Cheng Teh Rd., Hsih Lin District, Taipei City 111, Taiwan (R.O.C.)
886-2-28812628
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BRANCH NAME ADDRESS TEL
Tun Nan Branch 1F., No.243, Sec. 1, Dunhua S. Rd., Da-an District, Taipei City 106, Taiwan (R.O.C.) 886-2-27513989
Jhong He Branch No.35-1, Sec. 3, Jhongshan Rd., Jhonghe City, Taipei County 235, Taiwan (R.O.C.) 886-2-82213878
South Taichung Branch No.160-1, Sec. 2, Fusing Rd., South District, Taichung City 402, Taiwan (R.O.C.) 886-4-22612516
Shui Nan Branch No.50, Jhongcing Rd., Beitun District, Taichung City 406, Taiwan (R.O.C.) 886-4-22910388
Bei Tun Branch No.974, Sec. 4, Wunsin Rd., Beitun District, Taichung City 406, Taiwan (R.O.C.) 886-4-22333626
Si Tun Branch No.63, Guangming Rd., Situn District, Taichung City 407, Taiwan (R.O.C.) 886-4-27019551
Siang Shang Branch No.116, Sec. 1, Siangshang Rd., West District, Taichung City 403, Taiwan (R.O.C.) 886-4-23056881
Shih Chia Branch No.36, Jingwu E. Rd., East District, Taichung City 401, Taiwan (R.O.C.) 886-4-22120606
Fung Yuan Branch 1,2F, No.415, Jhong Shan Rd., Fung Yuan City, Taichung County 420, Taiwan 886-4-25251201
Yung An Branch No.159-75, Sec. 3, Situn Rd., Situn District, Taichung City 407, Taiwan (R.O.C.) 886-4-24616115
Ping Tung Branch No.123, Jhongjheng Rd., Pingtung City, Pingtung County 900, Taiwan (R.O.C.) 886-8-7339911
Tung Yuan Branch No.63, Guangdong Rd., Pingtung City, Pingtung County 900, Taiwan (R.O.C.) 886-8-7228306
Wan Dan BranchNo.256, Sec. 1, Wandan Rd., Wandan Township, Pingtung County 913, Taiwan (R.O.C.)
886-8-7772010
Ci Sian Branch No.249, Cisian 1st Rd., Sinsing District, Kaohsiung City 800, Taiwan (R.O.C.) 886-7-2361678
Ho Sheng Branch No.68, Sec. 2, Hesheng Rd., Pingtung City, Pingtung County 900, Taiwan (R.O.C.) 886-8-7529782
Hsi Chih Branch1,2F, No.146,148, Chung Hsing Rd., His Chih City, Taipei County 221, Taiwan (R.O.C.)
886-2-26959659
Tao Bei Branch No.449, Jingguo Rd., Taoyuan City, Taoyuan County 330, Taiwan (R.O.C.) 886-3-3465660
Dong Sin Jhu Branch 1,5F, No.189, Jhong Yang Rd., Sin Jhu City, Taiwan (R.O.C.) 886-3-5153288
Jiou Ru Branch No.230, Sec. 2, Jiouru Rd., Jiouru Township, Pingtung County 904, Taiwan (R.O.C.) 886-8-7390985
Yong Hua Branch No.32, Yonghua Rd., West Central District, Tainan City 700, Taiwan (R.O.C.) 886-6-2262088
Li Hsin Branch No.121, Huansi Rd., Jhongli City, Taoyuan County 320, Taiwan (R.O.C.) 886-3-4918787
Tai Ping Branch No.756, Taiping Rd., Taiping City, Taichung County 411, Taiwan (R.O.C.) 886-4-22788696
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BRANCH NAME ADDRESS TEL
Ta Ya Branch No.235, Syuefu Rd., Daya Township, Taichung County 428, Taiwan (R.O.C.) 886-4-25650901
Wu Jih Branch No.69, Sinsing Rd., Wurih Township, Taichung County 414, Taiwan (R.O.C.) 886-4-23367989
Cao Tun Branch1F, No.610, Jhongjheng Rd., Cao Tun Township, Nan Tou County 542, Taiiwan (R.O.C.)
886-4-92328296
Nan Dong Branch No.123, Sec. 2, Nanjing E. Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.) 886-2-25167698
As of May 15, 2009
2008
