E.SUN was well-positioned to leverage the broader benefits for Taiwan’s economy from the recovery in global demand in 2024, along with ongoing innovation in the tech industry.
In seizing this opportunity, the bank made significant progress domestically across its various business units, securing a profit growth rate of 40% year-on-year to outpace all tier-one competitors. Further, with loan growth at 12%, E.SUN rose to third in the rankings, plus its net interest margin and interest spreads remained stable due to effective funding cost management in a declining rate environment.
Also last year, wealth management fee income grew by nearly 43% year-on-year, ensuring E.SUN ranked first in this space, and the bank enjoyed significant growth in both consumption volume and fee income from credit cards.
A key driver of E.SUN’s growth and success in 2024 was its capital raising effort. Not only did this attract a record-breaking number of subscribers for Taiwan, reflecting the bank’s strong social impact; it also boosted its common equity tier 1 ratio to just over 11%, resulting in Moody’s and S&P validating the bank as systemically important in Taiwan.
Success at home also laid the foundation for E.SUN to expand overseas to become an Asia-Pacific-focused regional bank. It opened a representative office in Kuala Lumpur, Malaysia, and its Kumamoto sub-branch in Kyushu, Japan.
In total, from its 33 sites in 11 countries across Asia Pacific at the end of the third quarter of 2024, the profitability of E.SUN’s overseas business grew by nearly 16% year-on-year, contributing over 31% to the bank’s profit, ranking it second among Taiwan banks.
Leveraging its banking strengths in Taiwan, E.SUN was able to secure the highest market share in SME lending among private sector banks after delivering more than 11% growth over the last 12 months. Further, after the launch of the bank’s Unified Application Platform by the start of 2024 – to develop the digital customer journey – cross-selling of credit cards tripled and brokerage account cross-selling grew by more than 75%.
E.SUN also made impressive progress in 2024 in promoting an inclusive workplace environment through initiatives relating to maternal care, health promotion and family involvement.
For example, to create a better employee experience in Taiwan, the bank’s steps included refining the entire board selection system to ensure there are now five independent directors with diverse professional backgrounds, with two female directors. In addition, it drove diversity in employee composition, hiring and training, in terms of backgrounds and nationalities, as well as actively promoting gender equality in the workplace through pay policies and fair performance evaluations, for instance.
Communication channels and mentorship programmes have led to a psychologically safe work environment, which also enhances employee engagement and overall performance.
The bank was also able to extend these types of achievements and standards across Taiwan to its business in Mainland China in 2024 – where it ensured equality in pay and benefits, in talent cultivation and development, and in implementing employee-friendly workplace measures.
Throughout last year, E.SUN delivered on diversity, equity, and inclusion-related management goals in Mainland China, such as running more than 40 training sessions over the year, having a 90%-plus talent retention rate, and increasing the ratio of local female managers to over 45%.
"Honored by this award, E.SUN’s success in profitability, risk management, global growth, and high-net worth engagement propels us to become the “E.SUN of Asia.”"
Luke Lin, CEO
Contact
E.SUN Bank
T: +886-2-2175-1313
A: No.117, Sec.3, Minsheng E.Rd., Songshan Dist., Taipei City, Taiwan
E: [email protected]
W: www.esunbank.com/en/about
E.SUN Bank (China) Co., Ltd.
T: +86- 0755-8898-1313
A: 30F-31F, Building7, OneExcellence, No.5109 Menghai Avenue, Nanshan District, Shenzhen, China
