What are the special features of the business of Taiwan Financial Holdings?
- Taiwan's only state-run financial holding company
TFH is Taiwan's only state-run financial holding company. On 1 January 2008, TFH was established by the Ministry of Finance through a share swap involving shares in the Bank of Taiwan (BOT). On the following day (2 January), the BOT's life insurance and securities businesses were spun off to create group subsidiaries BankTaiwan Life Insurance (BTLI) and BankTaiwan Securities (BTS), thus creating a corporate group with operations in banking, securities, and life insurance. Then on 6 February 2013, BankTaiwan Insurance Brokers Co. was established as a BOT subsidiary to operate life and non-life insurance brokerage businesses.
- Market position in core businesses
- BOT, the TFH Group's principal subsidiary, was established in 1946. As the country's leading bank, BOT commands top market share in deposits and loans, has the highest net worth in the industry, and has for many years fulfilled the key tasks that the government has entrusted to it—boosting the financial industry, supporting the economy, and contributing to economic, trade, and industrial development.
- The group's life insurance and securities subsidiaries, prompted by the strategic commitment to integration of group resources, make use of BOT's highly developed channel resources and huge client base to tap into the synergies of cross-selling and achieve stable growth.
- Bears a mission as a state-run financial holding company
By integrating group resources while tapping into the synergies of cross-selling, capital allocations, and cost reductions, Taiwan Financial Holdings seeks to consolidate its subsidiaries' core businesses, maintain its advantage as a leading brand, and build up its business management capabilities and competitiveness. And, even as it seeks profits, the group also coordinates with government policy by pursuing numerous policy-driven tasks, thus delivering the value that is expected of a state-run financial holding company.