Corporate News 2015

CTBC Bank (Philippines) Corp., through its Trust and Investment Services Department (TISD), recently entered into an agreement with Virginia Food, Inc. (VFI) to enable the Bank to manage the retirement benefit plan of the employees of the food processing company. With the growth of its company and employee base, VFI sees the need for a professional manager like CTBC Bank to operate its retirement fund. The move is expected to maximize the gains of the funds VFI has set aside for their employees' future, offering them long-term financial wellness. Present during the formal signing were (from left) Gina T. Ang, VFI Vice President for Finance, Felix O. Tiukinhoy Jr., VFI President, Ida D. Mendoza, CTBC Bank TISD Vice President and Trust Officer and Dino V. Rodriguez, CTBC Bank Trust Marketing Officer.

CTBC Bank (Philippines) Corp., a subsidiary of the largest and most-awarded bank in Taiwan, recently celebrated its Platinum Anniversary by hosting an Appreciation Dinner with the theme, "CTBC Bank at 20: We Are Family. For Always." Held at The Peninsula Manila in Makati City, the celebration was intended to thank the Bank's valued clients, regulators, as well as esteemed friends from the industry and government for their trust and confidence throughout the Bank's first 20 years in the country. Senior officials from the CTBC Parent Bank as well as members of the Board of Directors and management of CTBC Bank Philippines welcomed the guests, including Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr.; Department of Trade and Industry Secretary Gregorio L. Domingo; and Representative of the Taipei Economic and Cultural Office in the Philippines Gary Lin.

The anniversary was an occasion to look back on the Bank's 20 years of service in the Philippines, as highlighted in framed images featured on each table and throughout the venue. In his welcome remarks, CTBC Bank President and CEO Steve Tsai echoed the sentiments of cherishing clients like family and investing in the resources needed to return their trust and confidence in the Bank with unparalleled service quality. He also stated, "Having put our plans and investments in place, we will follow through our aim of positioning CTBC Bank Philippines to further growth opportunities ahead. With this, I solicit your continued support to the Bank as we take our next journey."

In his speech, guest of honor Governor Tetangco, Jr. congratulated CTBC Bank on its anniversary and cited it for having been a steady partner of the BSP over the past 20 years in the country. He noted that, "…the modern gift for a 20th anniversary is also most appropriate – platinum, which stands for endurance, strength and overcoming obstacles" – the same characteristics that would put the Bank in good stead amid an increasingly complex global economic environment.

For his part, CTBC Bank President and CEO James Chen spoke of the Parent Bank's solid support to its Philippine subsidiary's initiatives and expansion plans in the country. He underscored the dynamic relationship between Taiwan and the Philippines as active trading partners, and lauded the local economy's performance as well as prospects for further growth. He stated, "You have attracted over 1,000 Taiwanese companies to invest here, and as the first Taiwanese Bank in the Philippines, CTBC is sure to support the banking needs of foreign investors and the local market."

The festive mood greeted the guests as they arrived at The Peninsula Manila, with sumptuous opening cocktails at the hotel's Upper Lobby followed by the formal dinner at the Rigodon Ballroom. The Manila String Machine performed soothing classical and contemporary pieces to serenade everyone over dinner, after which the Philippine Ballet Theatre presented an enthralling dance number. Capping the evening was a world-class set from the husband and wife team of Robert Seña and Isay Alvarez, both highly acclaimed performers on the stages of West End and the local scene. The program was emceed by well-known TV personality and model Angel Jacob.

The event indeed served as a fitting salute to the spirit of family reflected in CTBC Bank's continued efforts to move forward as a team and deliver on its brand promise to the Bank's stakeholders. It was also an opportune time to celebrate its positive financial performance, enhanced service delivery, and plans of expanding its branch network and product offerings. Besides the awards it received from industry giant Visa International, the Bank was also recently named by the Global Banking and Finance Review, a renowned London-based publication, as having the "Best Cash Card Philippines 2015" and "Best SME Bank Philippines 2015". Furthermore, with the recent turnover of three disaster-resilient school buildings to its beneficiary schools in Typhoon Yolanda-affected areas, the Bank brought to a total of 20 the number of beneficiary schools for its "Better Readers, Brighter Future." program; this reaffirmation of its commitment to education made its 20th year in the country all the more meaningful.

These milestones that made each year significant and memorable are a testament to the Bank's success in building on foreign bank strength coupled with local service and innovation. After 20 years, the same promise of caring for its customers like family – of nurturing deep and lasting relationships – remains stronger than ever.

Against a backdrop of images presenting the highlights of CTBC Bank's first 20 years in the Philippines are (seated, from left): CTBC Bank Philippines Vice Chairman William Go, BSP Governor Amando Tetangco, Jr., and CTBC Bank President and CEO James Chen; (standing, from left): CTBC Bank Philippines Director Edwin Villanueva, Representative of TECO in the Philippines Gary Lin, CTBC Bank Philippines and CEO Steve Tsai, and CTBC Bank Philippines Chairman Jack Lee.
CTBC Bank Philippines President and CEO Steve Tsai conveys his heartfelt appreciation to the Bank's valued clients, regulators and esteemed friends for their unwavering support throughout the Bank's first 20 years in the country.

CTBC Bank President and CEO James Chen conveys the Parent Bank's support to its local subsidiary in his speech.
CTBC Bank President and CEO James Chen (center) leads the ceremonial toast, joined by other senior officials from CTBC Bank Philippines and its Parent Bank.

CTBC Bank Philippines Chairman Jack Lee, CTBC Bank President and CEO James Chen, and CTBC Bank Philippines and CEO Steve Tsai mingle with the guests for 'kampai'.
Well-known TV personality and model Angel Jacob emcees the program.

Isay Alvarez and Robert Seña deliver a powerful performance to entertain the guests.

The Philippine Ballet Theatre impress guests with their enthralling jazz ballet number.

CTBC Bank (Philippines) Corp., a subsidiary of the largest and most-awarded bank in Taiwan, celebrated 20 years of service in the Philippines – an anniversary associated with platinum – with initiatives just as precious and enduring. The Bank turned over three disaster-resilient school buildings to its beneficiary schools in Typhoon Yolanda-affected areas, thus raising to a total of 20 the number of beneficiary schools for the Bank's "Better Readers. Brighter Future." program and further affirming its commitment to education.

A Family that Promotes Learning

The Bank introduced its reading and literacy program as part of its corporate social responsibility efforts in 2011. Joining hands with the National Book Store Foundation, Inc. (NBSFI), the Bank launched "Better Readers. Brighter Future." as a mobile library program that promoted literacy and readership awareness among public elementary students. Over a period of six months, the extensive mobile library collection of well-chosen literature toured six schools. At the end of every mobile library tour, the Bank awarded library packages to two deserving beneficiary schools. With the recent turnover of the three school buildings in Cebu, the Bank marked its 20th year in the country with a total of 20 local public schools reached by the program.

While "Better Readers. Brighter Future." thus started as a reading and literacy enhancement initiative, the destructive impact of Typhoon Yolanda in 2013 moved the Bank to extend the program to include the construction of school buildings, specifically in Northern Cebu. The Bank provided a PhP15 million grant to the Philippine Business for Social Progress (PBSP) to build one-storey three-classroom school buildings at Caduawan Elementary School and Ilihan Integrated School in the municipality of Tabogon, and Guadalupe Elementary School in the municipality of Bogo.

A Family that Looks Ahead

Representing CTBC Bank at the turnover ceremonies held recently in the respective schools were First Vice President and VisMin Regional Business Center Head Ingrid Militante and Vice President and Marketing Communications and Services Head Therese Marin, who presented the ceremonial key symbolizing the handover of each school building. As she received the plaque of appreciation on behalf of CTBC Bank, Ms. Militante expressed the Bank's hope that the school would continuously encourage their students to read the books that were donated to them by the Bank for a 'better and brighter future' as well as take care of the school facilities that had been specially designed to withstand the usual disasters that visit the country.

The new school buildings likewise comply with the principles of gender sensitivity, inclusive education, child protection, and environment preservation. Each of the classrooms has comfort rooms (separate for boys and girls) and complete educational supplies, furniture and fixtures. Specific features such as wider doors and hand grabs inside the toilets and a ramp at the building's entrance reflect careful consideration of the disabled. Even the location of the new buildings shows a deliberate effort to respect existing vegetation and avoid resultant flooding in the neighboring buildings and areas.

CTBC Bank at 20 brings to the fore the valuable lessons it has learned through experience in the country. It has translated these lessons into solutions that enable its stakeholders, specifically the students and the communities affected, to look forward to better prospects and a brighter future. It has also proven that, when truly inspired by the spirit of family, certain anniversary celebrations can have a deeper, more lasting, and more relevant meaning – it can inspire another 20 years and beyond.

CTBC Bank officers Ingrid Militante and Therese Marin receive a Plaque of Appreciation from Guadalupe Elementary School Education Committee Chairman Cresencio Verdida.
Grade School students of Caduawan Elementary School perform the doxology to mark the start of the program.

Coming together for the ceremonial key turnover at the Guadalupe Elementary School are (from left): Darwin A. Pianar, Guidance Coordinator; Amparo Angela Yulo-Millan, PBSP Visayas Regional Center -OIC; CTBC Bank officers Therese Marin and Ingrid Militante; Belen Pelayo, Faculty President; Charnievelle Granado, Grade 3 Adviser; Janeth Cabahug, Grade 5 Adviser; Cirelo Cabahug, Brgy. Captain of Guadalupe; Maryrose V. Nacua, SSG President; Cresencio P. Verdida, Education Committee Chairman; Jon Retuya, Grade 3 Adviser; Dony M. Inhug, Grade 1 Adviser; and Jose Dennis B. Ruiz, School Principal.
Ilihan Integrated School Teachers Judith Hinoguin, Ma. Bella Prescillas, and Jerome Mangubat enjoy their bright and newly-built classroom with their pupils. Joining them are School Principal Virgilio Fondavilla and CTBC Bank Officers Ingrid Militante and Therese Marin.

Leveraging on the country's sustained economic growth and heeding the government's call for increased foreign investments in the Philippines, subsidiaries of Taiwan-based CTBC Bank ---- the Tokyo Star Bank, Limited (TSB) and CTBC Bank Philippines, recently entered into a tripartite agreement with the Philippine Economic Zone Authority (PEZA) to promote direct investments and forge business partnerships between Japanese and Philippine businesses. Under the agreement, TSB shall promote the overseas expansion of Japanese businesses to the Philippines through PEZA, and foster business matching between Japanese businessmen and their Philippine counterparts in collaboration with CTBC Bank Philippines. Representing PEZA during the signing agreement is Director General Lilia B. De Lima (center), while TSB was represented by Asia Business Development Group Head Christopher Taniguchi (left), with Executive Vice President and Institutional Banking Group Head Marty Escalona (right) representing CTBC Bank Philippines.

Keeping pace with its multi-awarded Taiwan-based parent bank, CTBC Bank (Philippines) Corp. was recently named "Best Cash Card Philippines 2015" and "Best SME Bank Philippines 2015" by the Global Banking and Finance Review, a renowned London-based publication.

Since 2011, Global Banking and Finance Review honored companies that stood out in specific areas of expertise within the global financial community. According to the publication's judging panel, CTBC Bank was recognized this year because of the company's outstanding achievements and excellence in SME banking and the cash card business, scoring well in several categories. "The strategies adopted by the CTBC Bank Philippines allowed them to anticipate the needs of their clients and deliver comprehensive products and services," said Wanda Rich, Editor, Global Banking and Finance Review. "We look forward to seeing further growth and industry-leading solutions from the Bank in the years to come."

These global distinctions received by CTBC Bank came on the heels of an earlier award received from industry-giant Visa International, where the Bank was declared as the "Largest Prepaid Issuer for 2013".

"We are pleased to be a recipient of these prestigious awards as it solidifies the Bank's expertise and excellence in the bested categories," said Ismael Sandig, Senior Executive Vice President and Retail Banking Group Head, CTBC Bank. "Knowing that our clients depend on us for their financial well-being and long-term growth inspires us to continually provide excellent customer experience and match their needs with innovative product solutions. We, therefore, dedicate these accolades to our valued clients and thank them for their unwavering trust and support."

Opened as full-service commercial Bank in the latter part of 1995, CTBC Bank has one of the largest branch network among foreign banks in the country and is also deemed to be one of the most successful among many commercial banks that opened in that year.

The Chairman of the Board of CTBC Bank (Philippines) Corp., Jack Lee announced the appointment of veteran banker Steve Tsai as the Bank's new president, Chief Executive Officer and concurrent member of the Board of Directors effective March 1, 2015. Tsai succeeds Mark Chen who will move to CTBC Bank Singapore as Country Head.

"It is with great enthusiasm that we welcome Steve in this leadership position as we move forward to a new chapter in our corporate history," said Chairman Lee. "His industry expertise, wealth of international experience and highly decorated academic background would significantly propel CTBC Bank Philippines to even greater heights."

"I am honored to have been asked to take this role and I'm looking forward to working closely with the rest of the members of the Board, senior management team, and entire CTBC Bank Philippines' family," said Tsai. "Being part of the CTBC Bank family for the past 20 years with stints in Taiwan and Singapore, I have seen how fast the brand has grown into one of the most successful and well respected franchises in Asia. I am eager to contribute to the continuing success of CTBC in the Philippines and help further strengthen the Bank's foothold in the Consumer Finance, Corporate and Treasury businesses."

Prior to his appointment as president, Tsai held significant leadership roles with CTBC Bank for International Private Banking, Treasury, Corporate Planning, Product Development, and Corporate Trust. Previous to CTBC Bank, Tsai was with JP Morgan Chase where he rose to the position of Vice President for Treasury. He started his career as a Management Trainee at Bank of America.

Tsai holds a B.S. Economics degree from the National Cheng-Chi University, and has three master's degrees: an MBA in Information Management from the National Taiwan University; MBA in International Trade from the National Cheng-Chi University; and a Master of Philosophy degree in Accounting and Finance from the Lancaster University in the United Kingdom.