Standard Chartered HK


Standard Chartered (SC) Taiwan has been Highly Commended (HC) for their Corporate Social Responsibility work helping the disadvantaged, especially youngsters, and providing extra support during the Covid-19 pandemic, in the Best CSR Initiative category at the virtual Retail Banker International (RBI): Asia Trailblazer Awards 2021. The retail bank’s results, delivering 3% year-on-year (YoY) growth by focusing on digital services and wealth management, desite the Covid challenges of last year, was also commended in the Best Retail Bank Taiwan category.

The latter recognition was helped by a tight focus on the Credit Card & Personal Loan (CCPL) segment, where increased digitalization, robust credit quality checks, and partnerships to improve distribution all helped contain problems, as did secured lending where mortgage assets still went up 2% YoY and income 1% last year. Small-to-medium sized enterprize (SME) loans experienced an 11% rise in income and 74% in sales YoY.

There were also interest-only and payment holiday solutions for customers hard hit by Covid-19, plus taxi and caring money for SC staff who had to come into the office during the pandemic. This support was allied to better employee digital skills training and online accessible risk management tools for those staff that couldn’t come to the office.

A focus on wealth management (up 19% in Q1 2021) and digitalization in the mass afluent sector helped results. For instance, online foreign exchange (FX) business, as people repatriated money, doubled in sales volume and an enhanced Online Mutual Fund platform saw revenue grow 80% YoY. A new digital member-get-member (MGM) upgrade also delivered better ease-of-use and engagement. The digital adoption rate at the bank grew to 68% in 2020 versus 59% in Y2019 and 48% previously, so there is a marked upward curve. All these efforts meant SC Taiwan delivered 3% YoY growth rate last year, versus a market average of an -11% fall during these tough Covid-afflicted times.

The bank also helped its customers during these tough times. It created a NTD$7.5 million fund together with NTD$350,000 in employee donations to provide assistance to disadvantaged youth and families affected by the pandemic. 1,432 employees also carried out online shopping, helped the visually impaired (VI) to order masks and produced home exercise videos.

Its CSR commendation was also given for how the bank built on its long-standing Futuremakers program to help tackle inequality of opportunity and promote greater finanical and social inclusion in Taiwan. Futuremakers supports 16-35 year-old disadvantaged youth from low-income households, particularly girls and VI people, providing them with opportunities to take part in community projects focused on education and employability in order to empower them to learn, earn and grow. For instance, 1200 youngsters were helped to pursue their careers last year, 46 of them specifially from the Visually Impaired School in Taipei in university applications.

Sponsoring the Standard Chartered Taipei Charity Marathon for the last eight years, and donating the race registration fee, has also helped a further 600 VI talents into jobs since 2014. Program participants can take part in the race for free, sometimes with volunteer VI running buddies. NTD$2.5 million has also been raised by the race for other NGOs to further help the wider community.


The Retail Banker International Asia Trailblazer Awards is an annual platform that celebrates the best in class retail banking institutions and individuals for their innovative service offering and commitment to customer excellence.

If you would like to share your incredible consumer finance journey, then register for the 13th Annual Retail Banker International Asia Trailblazer Awards 2022 and submit your entry!