| SinoPac Holdings (the Chinese name
has been changed to Yuen Foong Holdings) was publicly
listed on the Taiwan Stock Exchange on May 9, 2006 (code
no.: 2890). Its subsidiaries include banking, securities,
credit cards, customer service technology, insurance brokerage,
venture capital investing, management consulting, financial
consulting, futures and leasing etc.
SinoPac Holdings paid-in capital is NT$70.77 billion,
with a net value of NT$88.103 billion and total market
value of over NT$120 billion. Qualified foreign institutional
investors (QFII) hold 30% of its shares. SinoPac Holdings'
total assets exceed NT$1 trillion and is the fourth
largest privately owned financial institution in Taiwan.
It is also the most aggressive globalizing financial
institution in Taiwan, with branches or representative
offices in Los Angeles, Hong Kong, Macau, Beijing, Shanghai,
Vietnam, and London. In California, SinoPac Holdings
fully owns the "Far East National Bank." As
SinoPac Holdings profits from overseas operations continue
to grow, the weight of its contributions is the highest
among the industry.
According to SinoPac Holdings organizational structure,
there is a special Business Operations Committee (經營委員會)
under the CEO office, which is responsible for the related
decision making and coordination of all business operations.
At corporate headquarters, there is Accounting, Administrations,
Corporate Communications, Information Technology, Operations,
Risk Management, Human Resources, Legal and Compliance
and Research and Development departments. There is also
a CFO that is in charge of accounting, administration,
corporate communications and business operations analysis.
Bank SinoPac was formed through the merger of Bank
SinoPac and the International Bank of Taipei (IBT).
There are 129 branches, of which 93 are located in Taipei
City and County, which gives it a dense branch service
network in the greater Taipei area. The International
Bank of Taipei has close to 60 years of rich history.
It was formerly established on May 4, 1948 as the "Taipei
Area Coordinated Savings Company" (台北區合會儲蓄公司).
On January 1, 1978, it became the "Taipei Business
Bank" (台北區中小企業銀行). On May 14, 1998, it was formally
changed to the "International Bank of Taipei."
Since 2000, IBT has undergone two organizational rebuilding,
and its "globalized corporate banking, community
oriented consumer banking, and financial planning banking
services" has made it into the leading regional
bank. Bank SinoPac is a full service commercial bank
that had always equally developed its consumer and corporate
banking businesses. In 2000, the consumer bank successfully
launched the "Money Management Account (MMA),"
which integrated passbook savings, loans, securities,
and mutual funds into one account. The corporate bank
was focused on developing small and medium size enterprise
customers, at the same time utilizing the Bank's two
niche products, the B-to-B corporate electronic Pay-Web
system and the online e-Factoring system to come out
with various electronic business services. In 2003,
the CrossPacific Account (CPA) was launched, which provided
an integrated solution for companies with intercontinental
operations.
SinoPac Securities is a composite securities house
which offers brokerage service, corporate financing,
underwriting etc. It is also the first securities house
in Taiwan to be listed on the OTC market while its brokerage
and underwriting businesses rank among the top in the
industry. The Asset magazine once ranked SinoPac Securities
as Taiwan's second largest securities house and FinanceAsia
magazine named it as "The Best Underwriting House
in Taiwan" in 2004 and 2005. Innovation and balanced
operations are SinoPac Securities' business strategy
towards fulfilling the goals of becoming a full service
securities house, top notch investment bank, and leading
electronic brokerage house in the pan Pacific Chinese
region.
SinoPac Credit Cards (originally Anshin Credit Cards)
formally became a subsidiary of SinoPac Holdings on
September 15, 2003. As of today, it has issued over
1.7 million cards and was given a credit rating of twA3
by Moody's on October 11, 2004, becoming the first credit
card company in Taiwan to receive such a credit rating.
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