Standard Chartered Beefs Up Competitiveness by Offering Year-Round Service

Taipei, Aug. 11, 2010 (CENS)--The Standard Chartered Bank (Taiwan) Ltd. recently opened its 88th branch here, which offers year-round service and extends normal business time to 9:30 p.m. from the existing 3:30 p.m. Such operating model is believed the first of its kind among foreign banks in Taiwan.

S. N. Kao, president of the bank, indicated that the new branch is located in a hectic commercial area surrounding the MRT Zhongxiao Dunhua Station and the Sogo Pacific Department Store, which usually attracts massive shoppers, not to mention the relatively well-off residents. Accordingly, Kao said it's necessary for the branch to extend its service hours for both shoppers and residents in the area.

Actually the bank's branch at Tienmu, nearby Dayeh Takashimaya Department Store, another popular shopping area in Taipei, has already offered extra service hours during weekends and holidays, Kao added.

In addition to normal operating hours during the weekdays, the Tienmu branch opens from 11:00 a.m. till 4:00 p.m. on Saturdays and Sundays. Unexpectedly, the average number of accounts opened on Saturdays and Sundays was even higher than recorded on weekdays by 40%-50%, Kao disclosed.

Standard Chartered reportedly intends to open more branches in Taipei in the near future, with locations likely at Minchuan E. Rd. and Tachih, both in the north of Taipei.

Other foreign banks here, including Citibank and Hongkong & Shanghai Banking Corp., are said to follow suit to offer year-round service. The former may have its branch in Taipei's Hsinyi district to offer such service and the latter is still looking for suitable area for the service.

Among domestic banks, Taipei Fubon Commercial Bank's branch in Taipei 101 Tower also offers year-round banking services, so do the two branches of Bank of Taiwan (BOT), including one at the Taoyuan International Airport, northern Taiwan, and the other at the Kaohsiung International Airport, southern Taiwan. The one in Taoyuan Airport is open from 5:30 a.m. to 9:20 p.m., with major business being foreign currency exchange for travelers.