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May 23, 2017

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CTBC, E. Sun among the top issuers of credit cards

TAIPEI, Taiwan -- CTBC Bank (中信銀) remained the largest credit card issuer in Taiwan in late February, while E. Sun Bank (玉山銀) edged out Citi Bank Taiwan for the third spot.

According to a recent release of Financial Supervisory Commission (FSC), CTBC Bank issued 5.654 million credit cards as of the end of February, remaining the largest credit card issuer in Taiwan, with 3.589 million effective cards for a sharp increase of about 280,000 within only two months.

In February CTBC's card transactions came to NT$24.4 billion, the highest among Taiwan's card issuers, and Cathay followed with NT$21.3 billion.

Cathay United Bank (國泰世華銀行) saw the number of effective cards grow to 3.099 million in February and 3.127 million in March, trailing CTBC.

United Daily News cited sources to report that the issuance of affinity cards by CTBC Bank and Pxmart (全聯), a popular supermarket chain in Taiwan, is the main reason for the spike of effective cards in February.

Cathay United Bank has worked with Costco Taiwan to jointly issue affinity cards, which have so far reached 920,000, boosting the bank's credit card transactions.

It is notable that E. Sun Bank replaced Citibank Taiwan to become the third largest credit card issuer on the island by issuing 3.477 million credit cards as of the end of February with 2.177 million being effective.

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