Taiwan's best bank for CSR 2022: Bank SinoPac
The driving principles of Bank SinoPac’s business are impressive: ethics and decency, wealth building, environmental sustainability and social responsibility. It ties those up with three sustainable commitments: to reduce inequality, mitigate and adapt to climate change and promote inclusive growth.
This kind of commitment naturally makes Bank SinoPac’s efforts at corporate social responsibility in Taiwan notable, landing it the Asiamoney award for best bank for CSR in Taiwan in 2022.
When it comes to improving financial accessibility, Bank SinoPac offers appropriate financial products and services to underprivileged groups. One example is its focus on integrating fintech into the agricultural and fishery wholesale markets. Bank SinoPac’s online platform connects cash flows of merchants’ accounts to the electronic settlement system of the wholesale markets. By the end of last year, the platform had served 2,370 or so merchants with advances of NT$33.7 billion ($1.1 billion).
Bank SinoPac also upgraded its offering in October by allowing farmers to sell their agricultural products online before harvesting them, as a way to help them plan their production and reduce waste.