Best for philanthropic services in Taiwan 2023
CTBC Bank was the first in Taiwan to get a wealth management licence, in 2003. Two decades on, it is still setting the pace in one of Asia’s fastest-growing private banking markets.
One reason for its leadership is its constant ability to set new benchmarks for the industry.
For instance, in 2018 it was the first in Taiwan to launch a family membership scheme, called Private Privelege, which targeted clients with more than $5 million to invest.
Two years later, it won approval to launch new wealth management products under a novel licensing programme, called Wealth Management 2.0, from the Financial Supervisory Commission. This scheme relaxed restrictions on the products in which high net-worth clients could invest, allowing a more diversified range of offerings.
CTBC was the first to launch new products under this programme in January 2021. By September 2022, more than 1,200 customers had applied for these products, with some 60% of them adding new assets with CTBC. In early 2022, the firm went a step further by launching new digital services under this wealth management programme.