The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2020 Euromoney is part of the Euromoney Institutional Investor PLC
Best Bank Awards

Taiwan's best bank for CSR 2021: Bank SinoPac

Bank SinoPac

Eric Chuang, President, Bank SinoPac.jpg
Eric Chuang, Bank SinoPac

Bank SinoPac has various initiatives that make it Taiwan’s best bank for CSR, but one that stands out – and which sets it apart from its peers – is its migrant worker lending programme.

The firm, led by president Eric Chuang, saw that some ethnic groups were struggling to access financial services easily available to the rest of the population, in part due to a lack of a credit record or language barriers. Southeast Asian migrant workers were being deprived financial services.

Bank SinoPac established a targeted lending programme to provide these migrant workers with loan services, initially based on their payroll transfer accounts with the bank but later expanded to beyond its own customers. As of the end of 2020, there were about 8,000 applicants for the programme, with a total funding amount of NT$560 million ($20 million) – absolutely critical support during the pandemic.

As well as payroll transfer issues, migrant workers typically rely on cash for daily consumption. To help, Bank SinoPac last October launched the SEA (southeast Asia) Credit Card.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree