E.Sun Bank’s 30th year was a moment for CEO Magi Chen and her team to take stock of progress to date. From 1992 to 2022, Chen notes, E.Sun’s market value grew by more than 500%, putting it in the top 20 of the 1,700-plus listed companies in Taiwan. Last year, the bank achieved a 10% compound annual growth rate for its total assets.
E.Sun Bank is one of Taiwan’s true globalizers. In 2022, it boasted 30 business units in 10 countries. On the digital front, it was a pioneer in upending core systems to establish digital payments and transactions. It was the first financial company in Taiwan to set 2050 net-zero emissions targets and to pass the Science-Based Targets initiative (SBTi) review.
Yet the global market gyrations and geopolitical uncertainty of 2022 were an opportunity for E.Sun to help corporate banking clients ride out the storm. That was particularly so for the bank’s small and medium-sized enterprise clients.
There were more than 1.59 million SMEs in Taiwan in 2022, accounting for 98% of all enterprises. SMEs employed 9.2 million people, more than 80% of total employment in the island. As the Covid period (2020 to 2021) gave way to the high inflation era (2022 and 2023), E.Sun