The Financial Supervisory Commission yesterday granted an operating license to All Win Co (全盈支付金融科技), an electronic payment start-up owned by Taiwan FamilyMart Co (全家便利商店), E.Sun Commercial Bank (玉山銀行) and PChome Online Inc (網路家庭).
The start-up must commence operations within six months of obtaining the license, Banking Bureau Chief Secretary Phil Tong (童政彰) told a news conference.
All Win is 67 percent-owned by FamilyMart, with E.Sun Bank owning 18 percent and Pi Mobile Technology Inc (拍付國際), an affiliate of PChome Online, holding a 15 percent stake, the commission said.
FamilyMart president Hsueh Dong-du (薛東都) is to serve as chairman of All Win, and E.Sun
The Financial Supervisory Commission (FSC) on Thursday raised the risk weighting for five types of mortgages and loans for local banks to as high as 200 percent, a measure aiming to further rein in the domestic housing market.
Risk weighting is used to calculate a bank’s risk-based capital, which banks must put aside as a reserve. The higher the risk weighting, the more risk-based capital is required.
The risk weighting of a mortgage on an individual’s third house has been raised from 30 percent to 100 percent, the commission said.
The risk weighting of a mortgage for a corporate entity to purchase real
Standard Chartered Bank (Taiwan) Ltd (渣打國際商業銀行) yesterday announced that it has partnered with PChome Online Inc (網路家庭) to offer loans to the e-commerce platform’s about 10,000 suppliers to meet their financial needs.
The collaboration came as a surprise in light of PChome’s cooperation with Citibank Taiwan Ltd (花旗台灣) and E.Sun Commercial Bank (玉山銀行) in issuing co-branded credit cards.
Standard Chartered said that it is not planning to launch a credit card with PChome, as the local credit card market is already intensely competitive, but would rather focus on lending to e-commerce retailers.
E-commerce retailers are usually overlooked, as banks prefer their brick-and-mortar counterparts,
E.Sun Financial Holding Co (玉山金控) aims to double its assets to NT$6 trillion (US$215.12 billion) in the next decade and hopes to boost its financial metrics via digitalization, the company told an investors’ conference in Taipei yesterday.
Its flagship unit, E.Sun Commercial Bank (玉山銀行), launched in 1992, took 18 years to acquire NT$1 trillion of assets, seven years to reach NT$2 trillion and another three-and-a-half years to hit NT$3 trillion, E.Sun Commercial Bank chairman Joseph Huang (黃男州) said.
“It seems that the pace [of asset accumulation] is faster,” Huang said. “We hope to add another NT$3 trillion in assets in the
E.Sun Financial Holding Co (玉山金控), the first signatory of the “Business Ambition for 1.5°C” among banks in Asia, has joined the Partnership for Carbon Accounting Financials.
By signing on to the partnership, E.Sun has committed to measuring and disclosing its financed greenhouse gas (GHG) emissions by following the Global GHG Accounting and Reporting Standard for the Financial Industry.
This is another step forward for E.Sun, which was the first financial institution in Asia to adopt the 1.5°C climate target.
Last year, E.Sun set medium and long-term climate goals, vowing to convert its proprietary domestic buildings into green buildings by 2027 and to derive