E.Sun Bank casts gaze to Southeast Asia and China to deliver future growth
Joseph Huang, president of E.Sun Bank, discusses the bank’s strategies to boost market share and capture additional revenue growth. February 05, 2013 | Baron LaudermilkE.Sun Bank, Taiwan’s 12th largest bank in terms of asset size, successfully boosted market share across various product lines – from deposits to unsecured personal loans (UPL) – over the course of 2012. Although the bank’s size (in terms of branches, employees and assets) pales in comparison to some of Taiwan’s larger banks, E.Sun Bank is beginning to challenge them in a variety of fields, including credit card sales as well as personal and SME loan offerings. Additionally, the bank is also looking to build its capabilities in China and the Southeast Asia region to better aid Taiwanese companies’ overseas business interests. E.Sun Bank recorded encouraging growth figures in 2012, having notched a UPL market share of 9.34%, a major jump from 5.02% in 2011. Similarly, the bank’s active cards market share in 2012 was recorded at 9.91%, an increase from 8.12% in 2011. Joseph Huang, president of E.Sun Bank, said that the bank has transformed into a major competitor in Taiwan’s banking industry because of its technology investments, risk monitoring outsourcing to international vendors, as well as its venture into growing overseas markets. According to Huang, the bank’s regional partnerships with retailers and its investment in customer analytics to boost cross-selling efforts have all contributed to E.Sun Bank’s steady product market share growth. In 2012, E.Sun Bank signed a six-year contract with the Carrefour hypermarket franchise in Taiwan to launch a co-branded credit card targeting everyday shoppers. Also, in stark contrast to Taiwan’s supposedly weak consumer market, transaction records posted by E.Sun Bank cardholders increased 25% in the first three quarters of 2012, far exceeding the market average of 6%. The bank is currently ranked fourth in terms of credit card spending volume in Taiwan, just behind Chinatrust Commercial Bank, Citibank Taiwan, and Cathay United Bank. Huang stated that E.Sun Bank could compe... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Cards, Data & Analytics, Deposits and Liabilities, FSI Customer Relationship Management , Retail Banking, Taiwan, Trade Finance, Transaction BankingCards,Data & Analytics,Deposits and Liabilities,FSI Customer Relationship Management ,retail,Taiwan,Trade Finance,Transaction Banking, Cards,Data & Analytics,Deposits and Liabilities,FSI Customer Relationship Management ,Retail Banking,Taiwan,Trade Finance,Transaction Banking, Keywords:E. Sun Bank, Joseph Huang, Chinatrust Commercial Bank, Citibank Taiwan, Data Mining, CRM E. Sun Bank, Joseph Huang, Chinatrust Commercial Bank, Citibank Taiwan, Data Mining, CRM
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