Far Eastern International Bank (Taiwan, China)

Far Eastern International Bank (FEIB) was establishment on January 11, 1992 and went listed on Taiwan Stock Exchange on November 27, 1998. Committed to business growth and innovation, FEIB launched a string of common people oriented financial products such as motor scooter loans and credit life insurance in line with market needs to boost gross profits. The Bank also focused on implementing a “Grand Branch” system and strengthening our cross selling platform to increase the value of our branch channels. We have improved our sales processes by shortening the required time for a housing mortgage application from 8 to 5 days, credit loan application from 4 to 2 days, and only 30 minutes to complete our credit review and approval process for an installment loan. It focused on launching innovative services and products, including establishing a new Corporate Finance Department to develop corporate trust services and our international syndicated loan business. It finished a successful acquisition of AIG’s credit card and accounts receivable businesses in Taiwan in September 2009. FEIB then proceeded to integrate smoothly Chinfon personnel and operating and data operations within five months, to officially complete the transaction on April 3, 2010. Post-Chinfon acquisition, FEIB saw its domestic branches expand by more than 50%, to become a medium-sized bank in terms of solid channels, customers, business development strength and market share - enough to lower operating costs, and improve operating efficiency and profitability. Corporate social responsibility (CSR) is core value of the bank. Long committed to “Giving back to Society”, we have been dedicated to promoting various public benefit activities. During recent years, aside from cooperating with Eden Welfare Foundation since 1997 and other non-profit institutions to care for underprivileged groups in Taiwan, when celebrating the Bank’s 17th anniversary in 2009, we initiated an event called “Deposit Book of Love―Send Love to Hualien and Taitung” in eastern Taiwan. FEIB staff pulled their efforts, compassion and strength to raise funds to purchase and donate one “ultrasonic medical checkup vehicle” to Mennonite Christian Hospital in Hualien, to address the insufficient medical resources available in remote areas of Taiwan. Our mission is to both achieve Group synergy and offer customers innovative, customized services to achieve growth in bank scale (quantity) and profit gain (quality). With the impending opening of the cross-Straits banking industry, we foresee a brand new era for Taiwan’s financial industry. Our vision is for FEIB to become a “professional and highly regarded financial services company in the Greater China region.” To comply with the expected signing of a Memorandum of Understanding and cross-Strait Economic Cooperation Framework Agreement (ECFA) between Beijing and Taipei that will lead to the establishment of financial service platforms in Taiwan, Hong Kong and China, FEIB is motivated to form alliances with major commercial banks in urban cities of mainland China. We look to bring into full play the Far Eastern Group’s ample client base to develop cross-Strait business synergy, serve as a financial bridge connecting Chinese financial markets and players, provide modern wealth management services to all individual and corporate banking customers, and create maximum value for the Bank’s clients, shareholders, and staff. FEIB’s goal is to become an outstanding professional bank in the Greater China region.