The 20th YONEX-SUNRISE India Open (Super 500), held in New Delhi from March 26th to 31st, saw our team’s “Lin-Yang Combo” Chi-lin Wang and Yang Lee advance all the way to the finals after their triumphant finish at the 2019 Swiss Open. Their opponents were the 91st ranked Indonesian duo (once ranked 7th in the world) of Suwardi and Pratama, and they came out on top to win the Gold. After the match, Chi-lin Wang excitingly and joyfully said that this was like Sun Yat-sen’s revolution as they finally succeeded on their 11th time facing the Indonesian duo. This was also their third championship in three months, and their eye-catching performance will hopefully propel them into the top 40 of the world rankings. Land Bank of Taiwan fully exhibits its corporate social responsibility by establishing badminton and tennis teams, committing to the selection and training of young talented athletes as reserves, and providing care for the players’ lives so that they can focus on improving their skills on the courts. As we have committed to doing so for an extended period of time, the Land Bank of Taiwan has become a vital cradle in nurturing domestic badminton talent. The Land Bank of Taiwan has actively participated in international competitions in recent years to help players improve and gain experience competing internationally, and hopes to have players represent the country well with personal bests and gold medals at the "2020 Tokyo Olympics."
The Chairman and the President of Land Bank of Taiwan presided at the handover and inauguration ceremony which was held at 3:30 pm today (4/8) at the First Meeting Room on the 10th floor. The newly appointed Chairman, Bor-Chang Hwang, and the President, Chuan-Chuan Hsieh, were sworn in with the Administrative Deputy Minister of the Ministry of Finance (MOF), Ching-Hwa Juan officiating over the ceremonies. Administrative Deputy Minister Juan commended Land Bank for its excellent performance over the past few years under the leadership of Chairman Joanne Ling and President Chung-Min Huang. As a 100% state-owned bank, its business scale and profitability have maintained its steady growth, with its profit since 2011 exceeding 10 billion NTD for eight consecutive years. The quality of the assets is also quite good as the NPL ratio and allowance for bad debt coverage have been better than those of the average of domestic banks. The Land Bank of Taiwan has also been able to fully cooperate with the government’s policies, such as the "Young Families Reassurance Concession Loan for Purchasing Homes,” the "Labor Relief Loan" at the end of each year and strengthening the credit and financing ratings for SMEs. As Taiwan starts moving towards an aging society and the government promotes policies of promoting annuity reform, long-term care and housing pensions, the Land Bank of Taiwan has actively implemented the "LOHAS Retirement Loans" and "Social Welfare Eldering Care Trusts" and other businesses with outstanding results, contributing greatly to the promotion of government policies. Resigned Chairman Ling has served as the Secretary of the Ministry of Finance (MOF), Director-general of the MOF’s National Taxation Bureau of Taipei, Director-general of the MOF’s National Treasury Administration, and Chairman of the Export-Import Bank of the Republic of China. She is a bright and experienced civil servant who is very familiar with Taiwan’s financial industry, and took over as the chairman of the Land Bank of Taiwan as the government civil servant of the financial industry when she took over as the chairman of Land Bank on September 12, 2016. Resigned President Huang served as the manager of the Minchuan Branch, Director at the Risk Management Department, Manager of the Finance Department, Chief Auditor and Deputy General Manager. With such adequate qualifications, general manager Huang excelled at each post and familiarized himself with the financial regulations, risk management and internal auditing affairs. He took over as the general manager of the Land Bank of Taiwan on April 6, 2017. The Land Bank of Taiwan’s business performance has been outstanding under the leadership of Chairman Ling and General Manager Huang. From the end of August 2016 to the end of February 2019, the assets of the Land Bank increased from NT$2,631.7 billion to NT$2,983.5 billion. The Land Bank’s performance at the end of 2018 was good as Land Bank ranked third amongst domestic banks in deposits and fifth in assets. The pre-tax surplus was NT$12.149 billion, achieving the 129% general budget target; the NPL ratio was 0.19% and coverage rate was 798.31%. In terms of operation and management, the company actively instructed relevant units to implement the implementation of operational policies, improve overall business performance, and put forward many specific improvement measures for Land Bank's internal management, including emphasis on legal compliance, risk management, and talent cultivation. At the time of the promotion of the business, we also continued to invest in social welfare and in line with government policies, we continued to organize various public welfare activities to fulfill corporate social responsibility. The new Chairman, Bor-Chang Hwang, is also an outstanding and professional leader, and has been in the credit business for more than 40 years since he worked his way up from Taiwan Cooperative Bank’s foundations. He has previously served as the manager of Taipei Credit Center, Director at the Kaohsiung Branch, Director of the Credit Management Department, Executive Vice President and President. Chairman Huang is well-qualified and has performed excellently at each of his past posts. Chairman Huang particularly emphasized having to look towards the future with uncertainty because of the US and China’s trade policies, the decreasing growth rate of China’s economy, and Europe’s tumultuous politics and economy may all have an impact on the world’s political and economic scene. As there will be fierce and volatile financial competition, the Land Bank of Taiwan will continue implementing its operating policies for this year, which include “strengthening Land Bank’s operating structure, cultivating its core businesses, enhancing profitability, promoting digital finance, developing overseas businesses, and fulfilling its social responsibilities.” As financial technology (FinTech) rapidly develops, Land Bank aims to provide consumers with convenient services by introducing innovative products and services under the principle of balancing risk management. Finally, Land Bank hopes to work together with all our colleagues on the basis of a solid foundation to further strengthen our competitiveness and lead Land Bank towards the goal of becoming an excellent financial institution with sustainable development. The new President, Chuan-Chuan Hsieh, is familiar with the domestic and foreign financial markets. She has experience in investment operations and risk management of debts, bills, stocks and various financial derivatives. The new President Hsieh has previously served as the Manager at the Bank of Taiwan’s Tunhwa Branch, Manager of the Credit Management Department, Manager of the Corporate Finance Department, Manager of Treasury Department, General Auditor and Executive Vice President. President Hsieh said that the banking industry will be facing a difficult and low-spread financial environment in the future, and will work together with everyone to uphold the business philosophy of being “Abundance, Harmony, Sincerity, and Innovation,” and lead Land Bank towards progress.