TAIPEI (Taiwan News) — Taiwan's only domestic credit-reporting agency gave out awards to 46 financial institutions and 56 individuals on Tuesday (Dec. 26).
The awards recognized their dedication to detail and quality of credit reports, against the backdrop of high inflation, an inventory glut, a cryptocurrency bubble, the Chinese real estate bubble, among other concerns.
The 17th annual awards event recognized good management of credit risk, which has become even more important during the market uncertainty.
To improve the accessibility, accuracy, and quality of credit information, Taiwan's Joint Credit Information Center (JCIC), which is responsible for collecting, processing, and exchanging credit data among financial institutions, established three awards since 2007. This year, the credit reporting agency established a "sustainable finance award" for the institutions and individuals supporting sustainability-linked loans that facilitate environmentally and socially sustainable economic activity and growth.
At Tuesday's event, 46 institutions and 56 staff members were selected to receive the awards.
The awards ceremony was attended by Financial Supervisory Commission (FSC) Chairperson Huang Tien-mu (黃天牧), FSC Banking Bureau Director-General Sherri Chuang (莊琇媛), Bankers Association Chair Paul C. D. Lei (雷仲達), COA Bureau of Agricultural Finance Acting Director Lee Tsung-yung (李聰勇), and executives from the winning institutions.
Among the winning institutions chosen for their outstanding performance in internal control and audit were:
- Bank of Taiwan
- First Commercial Bank
- Taiwan Cooperative Bank
- King's Town Bank
- EnTie Bank
- Bank of America Taipei Branch
- Second Credit Cooperative Association of Hualien
- Miaoli Chunan Farmers' Association
- New Taipei's Chongho Farmers' Association
- Taichung Area Farmers' Association
- Nan Shan Life Insurance Co.
- Cathay Life Insurance
The institutions that won awards for their perennially reliable credit checks were:
- Bank of Taiwan
- Yuanta Commercial Bank
- Taipei Fubon Bank
- Bank of Kaohsiung
- Sunny Bank
- Bangkok Bank Taipei Branch
- The Tamsui First Credit Cooperative Bank
- Changhua Fishermen's Association
- New Taipei's Pan Chiao Farmers' Association
- New Taipei's Xizhi District Farmers' Association
- Chunghua Post Co
In the same award category, South Data Processing Center of the National Federation of Credit Co-operatives of the R.O.C. was awarded for its efforts to help financial institutions give quality credit reports.
The credit card issuers awarded in the same category were Cathay United Bank, Union Bank of Taiwan, and Bank of Taiwan.
The other institutions recognized for improving the diversity of their credit reports were:
- Cathay United Bank
- First Commercial Bank
- Land Bank of Taiwan
- Chang Hwa Commercial Bank
- Taichung Commercial Bank
- Sunny Bank
- Metropolitan Bank and Trust Company
- Kaohsiung's Yung An Farmers' Association
- Miaoli's Chunan Farmers' Association
- Yunlin's Douliu Farmers' Association
- The Second Credit Cooperative of Keelung
- The Sixth Credit Cooperation of Changhwa
To align with FSC's sustainable and green initiatives, JCIC this year particularly awarded the banking institutions that made financing to environmentally friendly and socially sustainable businesses easier. They were:
- Mega Bank
- First Commercial Bank
- Hua Nan Bank
- Chang Hwa Commercial Bank
- Bank SinoPac
- E.SUN Bank
- Bank of Taiwan