＊長年投入人才培育，獲勞動部人才發展品質管理系統(TTQS, Talent Quality-Management System)銀獎肯定，並為金融業唯一連續15年獲政府企業人力資源提升計畫補助；
2018 General Shareholders’ Meeting of Far Eastern International Bank
The 2018 general shareholders’ meeting of FEIB was held on June, 20, 2018, at 9:00 am at Auditorium of Taipei Hero House, where management team reported FEIB’s 2017 business performance and 2018 business strategies. Based on 2 pivot strategies, i.e. “going overseas & going digital” as well as reinforcing compliance and risk management, FEIB continues following industry trend of digitalization and regionalization to achieve double-digit growth of profitability in 2018.
The Shareholders' Meeting approved dividend distribution of NT$0.71 per share which consisted of cash dividend of NT$ 0.439 per share and stock dividend of NT 0.271 per share. The payout ratio of cash dividend was around 49%. In the meeting, shareholders also elected 11 board members, including Ms.Ching-ing Hou, Mr. Shaw Y. Wang, Mr. Humphrey Cheng, Mr. James Wu, Mr.Tsung-ming Chung, Dr. Shi-chun Hsu, Dr. Min-the Yu (above are legal representative directors), Ms. Susan S. Chang, Ms. Hsiao-hui Wang, Mr. Bing Shen (above are independent directors), and Mr. Douglas Hsu. After the new election, female directors account for 3 seats of FEIB’s Board.
Steady core profitability momentum
FEIB maintained steady profitability from core business in 2017 , yet, due to one-time loss of foreign capital’s FX loss and bad debt loss to TransAsia Airways, FEIB’s net income in 2017 declined to NT$2.85Bn, EPS to NT$0.9 per share, ROA of 0.5%, and ROE of 6.82%. Excluding FX loss from the unhedged foreign capital, FEIB’s 2017 pre-tax ROA would be adjusted to 0.65% and pre-tax ROE would be adjusted to 8.83%, which were both around industry average. Total capital adequacy ratio on YE’17, after adjusting risk factor of mortgage loan according to regulation changes, increased significantly to 14.35%, better than industry average.
2017 major development of core business:
* FEIB launched “FE Integrated Payment Platform” to facilitate mobile payment processing for major retail chains like Far Eastern Department Stores and FE Sogo Department Stores. The 2 self-developed and patented FinTech techniques were recognized by FSC (Financial Supervisory Commission) for R&D tax credit eligibility and the platform was also awarded by FE Group for group synergy collaboration.
* FEIB developed innovative new products and technique through self-supported R&D capability in FinTech. Up to YE2017, FEIB has registered 8 patents in FinTech category, and is expected to increase patent registration by multiples in 2018.
* “Dunhua Branch” was launched as the flagship of boutique wealth management business model. Meanwhile, as branding recognition, FEIB was awarded the “Best Wealth Management Team” by Wealth Magazine, the “Best Wealth Management” and the ”Best Branding” by Excellence Magazine.
* FE Happy Card, positioned as the flagship card for FE Group, created 15% growth in spending in FEG retail shops. FEIB’s niche in Installments, automobile & motorcycle loans remained leading position in the industry by market shares.
* FEIB continued expanding corporate banking business in greater China market. Meanwhile, following government’s new southbound policy, FEIB started new business in Vietnam for new market development.
* FEIB’s subsidiaries, Far Eastern International Securities, Far Eastern Asset Management Co. and FEIB Financial Leasing Co. in Shanghai all delivered good business performance in 2017 with record high net income.
2 major CSR awards
FEIB continued delivering social responsibilities as a corporate citizen. In 2017, FEIB CSR report was awarded “Taiwan Corporate Sustainability Award” and “BSI Sustainability Excellence Award”. In early 2018, FEIB donated NT$3MM to the Relief Fund immediately after Hualien earthquake. Other contributions in 2017 include:
* FEIB was ranked top 20% among listed companies in the 4th corporate governance review by Taiwan Stock Exchange.
* FEIB implemented ISO 50001 for energy management in model branches, setting a goal of 15% energy saving in 3 years. To preserve green environment, FEIB supported green energy purchase and participated green financing with outstanding balance of NT$17.4Bn on YE’17.
* With continuous effort and commitment in employee training, FEIB gained subsidy support from MOL (Ministry of Labor) for 15 consecutive years for human resource enhancement program, and was awarded silver medal for TTQS (Talent Quality- management System).
* FEIB stock was included in TWSE ’s (Taiwan Stock Exchange) “High-Pay 100 Index” and “Employee 99 Index” as ESG (Environmental, social and governance) indices.
* FEIB’s customer service team was rewarded the “Best Customer Service Corporate” and the “Best Customer Service Center” by TCCDA (Taiwan Contact Center Development Association) .
* To encourage independency of physically and mentally challenged individuals, FEIB accumulatively supported over NT$80MM donation to Eden Foundation (via Eden Honor Cards), purchased 3,000 gift boxes of moon cake from “Children Are Us Foundation” and hired challenged adults of the Foundation for reception work in branches.
* For promotion of reading habit, FEIB issued 2018 calendar of “Forest & Ocean of Knowledge“ to introduce cotemporary architecture of libraries and donated books to graduating students of 31 senior high schools.
* To share aesthetic lifestyle with customers, FEIB hosted FEIB Day of Musee d’Orsay Exhibition and Sanyu Collection Exhibition for VIP customers, and sponsored Cirque du Soleil Show in Taipei.
New markets, New opportunities
In 2018, FEIB endeavors to enhance digital competitiveness that up to April’18, 88.5% of customer transactions are transacted on-line. “FE Integrated Payment Platform” is in progress of connecting more international mobile payment interfaces besides Alipay and FE friDay wallet. Leveraging availability of social banking, FEIB is planning to launch a new, unique and fresh digital banking brand in 3Q’18. For overseas market development, FEIB plans to inject new capital to FEIB Financial Leasing Co. in Shanghai, and to apply for rep. offices in Singapore and Vietnam in order to participate syndication opportunities in ASEAN and meet financing demand of local business. Through AI technique, Robo advisory will be used to enhance professionalism of wealth management service. Branch business model will be transformed to add SME customers for both financing and investment business needs. FEIB credit card, through linkage with mobile payment interfaces and joint promotion with FE retailers, is to gain more customers for a goal of over 1MM active cards. Post the computer hacker event in 2017, FEIB improves information security system and management architecture as one of the key internal control tasks in 2018.
Financially, FEIB will adjust balance sheet structure along with regulations, IFRS and BASEL requirement, grow asset scale and increase profitability in steady trend. The 2018 financial goals for FEIB are to grow assets above NT$600Bn, increase profitability by double-digit percentage, and achieve EPS over NT$1 per share.#