First Commercial Bank
While other market players were struggling to meet past performance, First Commercial Bank successfully increased its profitability in a particularly challenging year.
The end of 2005 saw Taiwanese banks falling into a debt card crisis, with a fierce competition in the market and high debt customers not being able to afford repayments.
Even in such challenging conditions, First Commercial Bank grew its profits and controlled the rise of NPLs.
“During the past year, a number of targets were achieved, which indicated that the bank is fully capable of implementing its business plans despite the rapid change of the global market and the competition we faced in the industry,” says Chin-Yun Wu, president of the bank.
“In addition, given the significant fiduciary responsibility, the bank has continued to reinforce its internal compliance policy to guard against reputational risk; and in line with the Basel II Accord, we continued introducing advanced systems and risk management tools aimed at leveraging the best practice in risk control. In September the bank was awarded with the ISO 27001 Certificate, once again reflecting our continued emphasis on maintaining our record of operational excellence.”
The organisational reform – started in July 2004 – was completed in April 2006. Under the fresh new corporate structure and by focusing on our seven core strengths, financial markets, corporate banking, wealth management, e-commerce, overseas markets, consumer banking and operational management, the bank commits itself to several goals. These are to be a role model in Taiwan’s banking sector; to be the best banking service provider; to assist Taiwan-related businesses across the world; and to be a highly competitive bank in the Chinese community.”
