Best for ESG in Taiwan 2021
E.SUN Bank is one of Taiwan’s younger banks, founded in 1992. But it has quickly risen to prominence thanks to its focus on Taiwan’s small and medium-sized enterprises, most of which are family-owned businesses.
E.SUN established its private bank in 2018 and has capitalized on the increasingly lucrative private banking service for succession planning. The outbreak of the coronavirus pandemic last year led to a collective shift in mindset, particularly among older clients in Taiwan. Many business owners in Taiwan, which has an aging population, have become more focused on succession planning. To meet that need, E.SUN added 50 new succession planning experts to its team last year, bringing the total to nearly 90.
In 2020, the bank recorded a 9% year-on-year increase in fee income, while overall sales volume jumped 30%.
E.SUN’s approach is to pair each customer with a private banking relationship manager as well as a corporate banking relationship manager to cover family wealth inheritance, asset allocation and corporate equity planning.
More than half of Taiwan’s business owners want their children to take over the family business, according to E.SUN.