Sinopac Financial Holdings Company Limited | APEA - Asia Pacific Enterprise Awards Asia Pacific Enterprise Awards

CORPORATE EXCELLENCE CATEGORY

Sinopac Financial Holdings Company Limited

Information about the Company
SinoPac Financial Holdings Company Limited (SPH) was established in 2002. The subsidiaries of SPH include banking, securities, leasing, investment trust, and venture capital. As of August 2022, SPH’s two major profit contributors are Bank SinoPac (BSP) and SinoPac Securities (SPS). In 2021, Bank SinoPac accounted for 69% of SinoPac Holdings’ profits, and SinoPac Securities accounted for 29%.

Bank SinoPac has 125 branches in Taiwan. In addition, the banking business has further extended to China, Hong Kong, Southeast Asia, and America. As of June 2022, BSP’s annualized ROE ranked No.2 among Taiwan’s 14 subsidiary banks of FHCs.

SinoPac Securities is one of Taiwan’s leading integrated securities companies, with 47 service locations in Taiwan and overseas service locations in Hong Kong, Shanghai, and London. SPS has a significant market share in Taiwan’s brokerage market with the No.3 ranking in July 2022.

SinoPac Holdings was awarded many robust ESG evaluations, including DJSI World Index, DJSI Emerging Markets Index, MSCI ACWI ESG Leaders Index, FTSE4Good TIP Taiwan ESG Index, and TWSE Corporate Governance 100 Index.

Company Culture & Company Activities
The corporate vision of SPH is “Together, a better life.” It means embracing transformation to create a better life with finance and empowering everyone to keep pace with the times and practice happiness. Therefore, the mission of SPH is to empower all people with innovative financial services at their fingertips and promote financial literacy, helping people leverage financial tools to achieve a better life. That is the commitment SPH made to itself and all stakeholders.

SPH established the Sustainable Development Committee in 2018. The three commitments of the Sustainable Development Committee are Reduce Inequality, Mitigate and Adapt to Climate Change, and Promote Inclusive Growth.

Regarding reducing inequality, SPH commits to improving access to financial services, promoting culture equality, supporting charity organizations/ social enterprises and employment of vulnerable populations, and promoting gender equality among directors, executives and employees. Bank SinoPac is the first bank in Taiwan to launch a B2B Smart Wholesale Market Transaction Facilitation Platform which connects merchant accounts to the electronic wholesale market settlement system.

Regarding Mitigating and Adapting to Climate Change, BSP has offered comprehensive financial services for the green energy industry, including green, social, and sustainability bond issuance, since 2017. The fund raised is used to develop renewable energy and green technology. Furthermore, BSP initiated a solar power equipment project financing in 2013 and has been the market leader since then.

Regarding Promoting Inclusive Growth, SPH promotes co-prosperity through financial services, procurement, employee training, and other day-to-day business activities.
Achievements & Impact
Compared to 2018, SPH’s total assets, net interest income, net fee income, and net income all reported evident growth. As of August 2022, SPH was the only financial holding company in Taiwan that reported positive net income growth. As of 1H22, its ROE ranking has also improved from 11th place in 2018 to 5th place in the first half of 2022.

Compared to the same period last year, SPH 6M22 net revenues of NTD24.1 billion (+5.3%YoY) and pre-tax income of NTD10.0 billion (+3.0%YoY) both set new highs.

SPH’s overseas net revenues boosted 15% YoY to NTD13.7 billion, accounting for 30% of total net revenues in 2021. The future operations will focus on Greater China and Southeast Asia by accelerating the digital transformation to expand its international presence.

In the 1H22, SPH wealth management and loan-related fee income increased by 3% and 50% respectively. Diversified fee revenues support SPH’s net fee income growth. In 2022, BSP’s fee income supports SPH’s total fee revenues from the rate hike environment. In 1H22, BSP’s cumulated net fee income grew 16% YoY, outperforming other subsidiary banks of 15 financial holding companies in Taiwan.

Future Direction
In response to sustainable growth expectations, SPH closely watches the market movement and analyses competency to compose business strategies focusing on overseas expansion, digital transformation, integration, and sustainability.

The cooperation mechanism between overseas branches and subsidiaries has been well-established regarding overseas expansion. The cooperation model can help with due diligence, reducing risks and boosting revenues in the long run. SPH will continuously seek collaboration opportunities with local enterprises to fortify the knowledge of local markets.

CORPORATE EXCELLENCE CATEGORY

Sinopac Financial Holdings Company Limited

Information about the Company
SinoPac Financial Holdings Company Limited (SPH) was established in 2002. The subsidiaries of SPH include banking, securities, leasing, investment trust, and venture capital. As of August 2022, SPH’s two major profit contributors are Bank SinoPac (BSP) and SinoPac Securities (SPS). In 2021, Bank SinoPac accounted for 69% of SinoPac Holdings’ profits, and SinoPac Securities accounted for 29%.

Bank SinoPac has 125 branches in Taiwan. In addition, the banking business has further extended to China, Hong Kong, Southeast Asia, and America. As of June 2022, BSP’s annualized ROE ranked No.2 among Taiwan’s 14 subsidiary banks of FHCs.

SinoPac Securities is one of Taiwan’s leading integrated securities companies, with 47 service locations in Taiwan and overseas service locations in Hong Kong, Shanghai, and London. SPS has a significant market share in Taiwan’s brokerage market with the No.3 ranking in July 2022.

SinoPac Holdings was awarded many robust ESG evaluations, including DJSI World Index, DJSI Emerging Markets Index, MSCI ACWI ESG Leaders Index, FTSE4Good TIP Taiwan ESG Index, and TWSE Corporate Governance 100 Index.

Company Culture & Company Activities
The corporate vision of SPH is “Together, a better life.” It means embracing transformation to create a better life with finance and empowering everyone to keep pace with the times and practice happiness. Therefore, the mission of SPH is to empower all people with innovative financial services at their fingertips and promote financial literacy, helping people leverage financial tools to achieve a better life. That is the commitment SPH made to itself and all stakeholders.

SPH established the Sustainable Development Committee in 2018. The three commitments of the Sustainable Development Committee are Reduce Inequality, Mitigate and Adapt to Climate Change, and Promote Inclusive Growth.

Regarding reducing inequality, SPH commits to improving access to financial services, promoting culture equality, supporting charity organizations/ social enterprises and employment of vulnerable populations, and promoting gender equality among directors, executives and employees. Bank SinoPac is the first bank in Taiwan to launch a B2B Smart Wholesale Market Transaction Facilitation Platform which connects merchant accounts to the electronic wholesale market settlement system.

Regarding Mitigating and Adapting to Climate Change, BSP has offered comprehensive financial services for the green energy industry, including green, social, and sustainability bond issuance, since 2017. The fund raised is used to develop renewable energy and green technology. Furthermore, BSP initiated a solar power equipment project financing in 2013 and has been the market leader since then.

Regarding Promoting Inclusive Growth, SPH promotes co-prosperity through financial services, procurement, employee training, and other day-to-day business activities.
Achievements & Impact
Compared to 2018, SPH’s total assets, net interest income, net fee income, and net income all reported evident growth. As of August 2022, SPH was the only financial holding company in Taiwan that reported positive net income growth. As of 1H22, its ROE ranking has also improved from 11th place in 2018 to 5th place in the first half of 2022.

Compared to the same period last year, SPH 6M22 net revenues of NTD24.1 billion (+5.3%YoY) and pre-tax income of NTD10.0 billion (+3.0%YoY) both set new highs.

SPH’s overseas net revenues boosted 15% YoY to NTD13.7 billion, accounting for 30% of total net revenues in 2021. The future operations will focus on Greater China and Southeast Asia by accelerating the digital transformation to expand its international presence.

In the 1H22, SPH wealth management and loan-related fee income increased by 3% and 50% respectively. Diversified fee revenues support SPH’s net fee income growth. In 2022, BSP’s fee income supports SPH’s total fee revenues from the rate hike environment. In 1H22, BSP’s cumulated net fee income grew 16% YoY, outperforming other subsidiary banks of 15 financial holding companies in Taiwan.

Future Direction
In response to sustainable growth expectations, SPH closely watches the market movement and analyses competency to compose business strategies focusing on overseas expansion, digital transformation, integration, and sustainability.

The cooperation mechanism between overseas branches and subsidiaries has been well-established regarding overseas expansion. The cooperation model can help with due diligence, reducing risks and boosting revenues in the long run. SPH will continuously seek collaboration opportunities with local enterprises to fortify the knowledge of local markets.