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Land Bank Implements Inclusive Finance: Fostering a Friendly and Inclusive Society

The Land Bank of Taiwan (Land Bank) remains steadfast in its commitment to inclusive finance, embodying this commitment through four key initiatives: "friendly finance," "assistance to financially vulnerable groups," "promotion of financial literacy," and "support for the growth of small and medium-sized enterprises." For five consecutive years, the Land Bank has consistently ranked within the top 25% in the Financial Supervisory Commission's assessment of fairness in the banking industry's to treat clients fairly. This underscores its success in meeting the diverse financial service needs of various customer demographics.


The Financial Supervisory Commission (FSC) utilizes the "G20 Financial Inclusion Indicators" framework and the current state of the domestic financial market as benchmarks. Since 2020, it has implemented inclusive finance measurement indicators for Taiwan, evaluating the development and efficacy of inclusive finance within our financial sector from three key perspectives: accessibility, usability, and the quality of financial services.


As a state-owned bank, the Land Bank adheres to the FSC's inclusive finance indicators. Regarding the "friendly finance" measures, the Land Bank currently has 150 operating units, all equipped with accessible service counters, ATMs suitable for wheelchair users, and video call sign language interpretation services. The ratio of barrier-free ramp installations is approximately 95%, and the ratio of barrier-free restroom installations exceeds 88%. Moreover, to better serve customers from diverse backgrounds, the Land Bank has introduced a bilingual branch system in 89 branches, which constitute approximately 60% of the total number of branches.


In addition to catering to the needs of various communities, the Land Bank actively engages in "assisting financially vulnerable groups." As part of our response to the Trust 2.0 initiative, we have introduced five key trust services: social welfare hospice care, social welfare public welfare hospice care, pre-activated hospice care/insurance, social housing for the elderly, and integrated services for elderly living trusts. By the conclusion of 2023, the total trust volume has exceeded NT$450 million. Notably, the "social welfare public welfare trust" has positively impacted 4,605 individuals. Furthermore, the Land Bank offers micro-injury insurance and small-premium whole life insurance to address protection needs for economically disadvantaged individuals. Additionally, the Land Bank provides Phoenix Micro Start-up Loans to facilitate entrepreneurship, along with specialized loans tailored for unemployed middle-aged and elderly individuals seeking to establish their own businesses. In total, the Land Bank has extended loans to 331 account holders, totaling NT$141 million. During debt clearance procedures, the Land Bank also takes into consideration the debt repayment capabilities of economically disadvantaged groups, actively aiding them in resolving debt issues and reintegrating them into mainstream society.


Moreover, to foster public literacy on financial concepts and bolster awareness of fraud prevention, the Land Bank has championed initiatives under the banner of "popularizing financial knowledge." We have conducted numerous seminars on asset planning, asset inheritance, retirement planning, financial planning for low-income individuals, and anti-fraud awareness in schools and communities. These endeavors are designed to augment financial literacy and anti-fraud awareness among the public. As of the end of 2023, we had organized 49 outreach events, benefiting nearly 3,000 individuals.


In addition to helping individuals, the Land Bank is dedicated to bolstering Taiwan's economy, exemplified by our commitment to initiatives promoting the growth of small and medium-sized enterprises (SMEs). Through programs like the SME 100 Billion Stimulus Program, Post-Pandemic Stimulus Program, and Low Carbon Smart Management loan programs, we facilitate SMEs' access to operational funds, fostering mutually beneficial outcomes for the government, banks, and enterprises. By the conclusion of 2023, the Land Bank had approved SME loans totaling over NT$600 billion, garnering recognition from the FSC in the form of a Special Award for Outstanding SME Loan Banks for Equitable Development in the Central Region, underscoring our efforts towards balanced regional development.


Since its inception, the Land Bank has upheld the ethos of "what is taken from society is given back to society," championing the principles of inclusive finance and fulfilling corporate social responsibility. Looking back on the previous year, the Land Bank has organized over 300 charity events, with enthusiastic participation from over a thousand employees who volunteered their time and efforts. Furthermore, we've remained unwavering in our support for local smallholder farmers by purchasing seasonal agricultural products. Notably, we procured 15 tons of pineapples and 6.6 tons of pineapples and custard apples in the year 2023 alone, contributing to positive outcomes for farmers and society. To foster the accessibility of inclusive financial services, the Land Bank is actively promoting the adoption of "Land Bank Pay," such as by introducing the "Taiwan Pay" universal QR code payment service. By broadening the reach of mobile payment convenience across various platforms, we aim to incentivize more consumers to utilize mobile payment services. Additionally, the Land Bank collaborates with charitable and environmental conservation organizations to champion the "Donate Your Love, Charity at Your Fingertips" (愛心樂捐 隨手做公益) campaign. Through this initiative, individuals can support charitable causes by making donations using Land Bank's Land Bank Pay/Taiwan Pay QR code scanning feature, thereby contributing to creating a friendly and inclusive society.


Contact person: Hsi-Chih Li

Tel.: 02-2348-3295

Release date: 2024/04/02 Last updated: 2024/04/02