Best Private Bank in Taiwan - Chinatrust Commercial Bank

Chinatrust demonstrated a strong performance over the past 12 months, picking up the award for best private bank in Taiwan again.

James Chen, president and CEO of Chinatrust Commercial Bank comments on the bank’s performance over the past year: “Chinatrust has strong commitment to maintain its position as the market leader by continuing polishing the business model to satisfy customers’ needs.”

There are a number of ways that the bank has worked on building on its lead in the Taiwan market. For example, in the private banking and wealth management business, Chinatrust established a new segmentation model with a one-bank approach that aims to offer more accurate advisory service, product portfolio and membership package.

Mr Chen comments that the ‘one bank’ approach has helped Chinatrust serve its clients better, as well as the enhanced advisory and sales approach of the organisation. “Chinatrust built stronger relationships with its VIP customers than most rivals in 2010. Chinatrust still surpasses major wealth management banks in Taiwan with its lion share of VIP customer number and assets under management,” says Mr Chen.

Competition, however, is heating up in the Taiwanese market, which means that it is now more important than ever to have the right strategy.

“Chinatrust needs to build a strong business model for high net worth individuals, in addition to our success in mass affluent customers, to distinguish ourselves among the fierce competition. Besides, we need to upgrade the wealth management fee model to sustain our fee revenue. The key to success is to integrate internal resources to make these things happen as soon as possible,” comments Mr Chen. JC