With the auspicious start of the Year of the Dragon, the Land Bank of Taiwan organized a Lunar New Year gathering on the sixth day of the lunar calendar (February 15, 2024). Land Bank Chairwoman Chuan-chuan Hsieh, General Manager Ying-ming He, and unit managers connected via video conference to different branches to commend the Land Bank's staff for their outstanding performance in the 2023 fiscal year. The Land Bank achieved a historic high in pre-tax profits, amounting to NT$17.043 billion.
Looking ahead to 2024, Chairwoman Hsieh emphasized the importance of embracing the ethos of "advancing beyond yesterday" among all staff members. They are encouraged to persist in generating outstanding accomplishments for both the Land Bank and themselves. Within the framework of the Land Bank’s five primary strategic objectives—namely, "equitable credit allocation," "diversified revenue streams," "quality talent cultivation," "digitalization of operations," and "commitment to sustainable development"—the Land Bank will formulate more comprehensive and in-depth annual strategies. These strategies will be meticulously tracked through Gantt charts to ensure progress, with dynamic adjustments facilitated by ongoing feedback mechanisms. Additionally, real-time incentive structures will be implemented to enhance the thorough implementation and agility of established strategies.
Regarding "equitable credit allocation," the Land Bank is proactively increasing its corporate credit capacity by leveraging its current land and construction development loan credits. This involves adjusting the credit structure, managing risk asset utilization, and proactively preparing to comply with forthcoming BIS (Capital Adequacy Ratio) regulations.
For the year ahead, the Land Bank places significant emphasis on "diversified revenue streams," particularly through financial operations and fee income. In addition to actively allocating resources to cater to the business-driven fee income ratio of high-asset clients, there is a concerted effort to increase the proportion of financial operations to an optimal level.
To foster a positive corporate workplace culture, the Land Bank is actively implementing initiatives to exemplify its "quality talent cultivation" strategy this year. It has introduced HR policies and systems tailored to the needs of the new generation of employees, providing excellent talents with enhanced development opportunities.
Given the evolving landscape of technology and the escalating risks associated with information security, cybersecurity has emerged as the cornerstone of the Land Bank's "digitalization of operations" initiative. To bolster customer convenience and promote financial inclusion, the Land Bank continuously updates improvement plans for its financial service pathways based on customer feedback. This ensures that the Land Bank's app and digital services remain user-friendly and accessible.
On "commitment to sustainable development," the Land Bank has established new ESG (Environmental, Social, and Governance) objectives for the upcoming fiscal period. The Land Bank not only adheres to both GRI (Global Reporting Initiative) and SASB (Sustainability Accounting Standards Board) standards for compiling ESG reports but also integrates ESG considerations into its investment, financing, and product evaluation processes. The Land Bank has instituted broad exclusions for certain industries and imposed upper limits on investments and financing for environmentally detrimental or energy-intensive sectors. Additionally, it is exploring the implementation of greenhouse gas inventories at operational sites to bolster the competitiveness of its sustainable operations.
At the conclusion of the Lunar New Year activities, Chairwoman Hsieh drew inspiration from the Chinese proverb "Those that succeed stick to long-term goals, those that fail often set new goals" to motivate the bank's staff to set and pursue long-term objectives in the new year. She urged everyone to contribute their utmost efforts to ensure the Land Bank attains remarkable performance and success in the forthcoming year.
Contact: Pei-yu Liao
Tel.: 02-2348-3064
