Fubon Financial Holding Co., Ltd.
Committed to becoming one of Asia’s first-class financial institutions, Fubon Financial Holdings has built a strong lineup of financial service companies. Its major subsidiaries include Fubon Life, Taipei Fubon Bank, Fubon Bank (Hong Kong), Fubon Bank (China), Fubon Insurance, Fubon Securities, and Fubon Asset Management. Fubon Financial Holdings had total assets of NT$8856.1 billion as of the end of June 2020, ranking second among Taiwan’s financial holding companies, and it has been the most profitable company in the industry in terms of earnings per share (EPS) for 11 consecutive years. The company was also named to the Fortune Global 500 for the third consecutive year in 2020.
Fubon Financial Holdings took a key step to strengthen its asset management business in December 2019, bringing Fubon Asset Management under its corporate umbrella after it had been a wholly owned subsidiary of Fubon Securities. The move reflected the long-term strategic importance of the business to Fubon and its potential as one of the company’s most promising areas of development.
Fubon Financial Holdings has also moved aggressively to extend its reach throughout Greater China. Fubon Financial Holdings acquired a stake in Xiamen Bank through Fubon Bank (Hong Kong) in 2008, and Fubon Property & Casualty Insurance began operations in 2010. Founder Fubon Fund Management, a fund management joint venture between Fubon Asset Management and Founder Securities, was unveiled in July 2011. In January 2014, Fubon Financial Holdings and Taipei Fubon Bank acquired a controlling 80% stake in Shanghai-based First Sino Bank, and later changed its name to Fubon Bank (China). In 2016, Fubon Bank (China) became a wholly owned subsidiary of Fubon Financial Holdings. Fubon Financial Holdings is now the only Taiwanese financial institution with banking subsidiaries in China, Taiwan and Hong Kong.
The company has since continued to deepen its presence in Greater China and expanded its network in Asia. In 2018, it took direct control of a 19.95% stake in Xiamen Bank to strengthen its investment position in China. Fubon Life achieved a milestone of its own, increasing its stake in South Korea’s Hyundai Life to 62% and taking management control of the company, which was renamed Fubon Hyundai Life Insurance Co.
Taipei Fubon Bank opened a branch in Singapore in 2016 to serve as a key foothold for Fubon Financial Holdings in the Southeast Asian market. The bank launched a representative office in Jakarta in 2019, further strengthening its “Asian Golden Bridge” network connecting Taiwan, Hong Kong, China, Vietnam, Singapore and Indonesia. Fubon Financial Holdings will continue to search for suitable partnerships in the future to move closer to its vision of becoming one of Asia’s first-class financial institutions.
At the heart of Fubon Financial Holdings’ operating strategy is a strong commitment to sustainable growth, which has earned the company global recognition. In 2019, it was selected for a third straight year to the DJSI World Index and MSCI ESG Leaders Index and for a fourth year running to the DJSI Emerging Markets Index. It also was honored with an “Icon on Corporate Governance” award from Corporate Governance Asia for an 11th year in a row and a Platinum Corporate Award from The Asset for a ninth straight year. These accolades all reflect Fubon’s efforts to operate sustainably and its emergence as a benchmark in the field.
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