■ 沈中華
Introduction
The merger of Taishin Bank and Daan Bank was chosen because it was the first positive merger between Taiwanese banks, and because the work that was necessary to integrate the two institutions has been completed. A careful analysis and focus on the post-merger integration process, and on the problems and solutions arising from the merger, could serve as a useful reference for future bank mergers and integrations.
Background Information
and Operating Strategies:
Taishin Bank was established in the early 1990's as the Taiwanese government relaxed its policies to allow the establishment of private banks. Its first CEO, Thomas Wu, solicited support from prominent businesses, and its major shareholders included the Shin Kong Group (Shinkong Synthetic Fibers Corporation and Shinkong Spinning Corporation), WeiChuan Corporation, VeWong Corporation, TECO Electric & Machinery, SamShin Corporation, Tung Ho Steel, Ennead Inc, and TN Soong & Co. Taishin Bank was established on February 25th, 1992, and opened its doors on March 23rd of that year with an initial capital of 10 billion NTD. It has consistently increased its capital since 1998. That, plus the re-investment of its retained earnings, put its total capital at 28 billion NTD by the end of 2001.
Daan Bank had an initial capital of 10 billion NTD when it opened for business on January 1st, 1992. Its major shareholders included Walshin Lihwa, Imei Food, USI Corporation, YongfengYu Group, Pacific Group, Continental Engineering Corporation, Sampo, Kolin Group, and the Capital Group.
In general, the various operating strategies for Taishin and Daan Banks were as follows:
Operating Strategy: Taishin Bank concentrated more on consumer banking, while Daan Bank concentrated more on business banking.
Asset Quality: Taishin Bank had a lower rate of non-performing loans than Daan Bank, but they were both within a controllable range.
Development Attributes: Taishin Bank had high brand awareness, a greater selection of consumer banking products, and higher profitability than Daan Bank. It was the second-largest credit card-issuing bank in Taiwan, and was a leader in the insurance sector as it maintained an excellent team of professional managing staffs. Daan Bank, on the other hand, had a solid business banking sector, good operations management, efficient cost control, high MIS performance, and a team of professional managing staffs.
Expected Synergy
of the Merger
After the merger, Taishin Bank acquired Daan's assets, employees and operating branches. This was expected to enhance the professional services provided by Daan Bank. The integration of resources and consumer databases allowed cross-selling, permitting Taishin Bank to expand its economies of scale, thereby increasing efficiency and decreasing costs.
By the end of September 2001, Taishin Bank had capital totaling 24.8 billion NTD, and Daan Bank had capital of 15.7 billion NTD. The total capital after the merger was 31.9 billion NTD, and it was estimated that their combined assets valued over 516.7 billion NTD by 2002. The total loan value at that time was 348.9 billion NTD, and the deposit value was 415.3 billion. Taishin Bank had 51 branches and Daan Bank 38, so the total number of branches after the merger was 89. It was hoped that the integration of the two banks' sales and consumer resources would increase both market share and service quality.
本研究選取台新銀行與大安銀行合併案，主要因該個案為台灣銀行間良質合併首例，且整合工作已全數完成，可藉由事後之深入分析，著重於合併後整合過程所衍生的各項問題及解決方法，作為日後其他銀行合併整合參考，加速整合工作進行。
台新與大安銀行之設立背景
與經營策略
台新銀行是在政府開放民營商業銀行設立原則下，由首任董事長吳東亮邀請企業界人士共同發起創設，主要股東有新光集團（新光合纖、新光紡織）、味全、味王、東元電機、三信商事、東和鋼鐵、九如實業、眾信會計師等。1992年2月25日正式設立，同年3月23日公告對外營業設立初期資本額為新台幣100億元，1998後陸續辦理現金增資，加上歷年盈餘轉增資，截至2001年底實收資本總額為新台幣280億元。
大安銀行資本額為100億元，主要股東有華新麗華集團、義美食品、台灣聚合化學品、永豐餘集團、太平洋集團、大陸工程、聲寶、歌林、勤益等。1992年1月1日正式公告開業
大體而言，台新及大安經營策略如下：
經營策略：台新較注重消費金融，大安較注重企業金融。
資產品質：台新逾放較低，大安較高，但均在可控制範圍。
發展特徵：台新的品牌知名度高、消費金融產品組合多元化、獲利能力高、為台灣地區第二大信用卡發卡銀行、領先的銀行保代業務、經營管理階層之專業能力；大安的企業金融強勢、作業整合及執行能力強、成本控制較有效率、銀行資訊系統效能較佳、經營管理階層具專業能力。
併購預期之綜效
台新銀行預藉合併案，取得大安銀行的資產、人才及營業據點，強化原有銀行業務專業及服務範圍，整合相關資源及客戶基礎，進行交叉銷售，可大幅增長台新銀行經濟規模，進而提高經濟效率，有效降低成本。
截至2001年9月底，台新銀行資本額為新台幣248億餘元，大安銀行資本額為新台幣157億餘元，合併後達319億餘元，估計2002年資產規模5,167億餘元，合併後放款餘額可達3,489億餘元，存款餘額4,153億餘元，台新銀行分行家數51家，大安銀行分行家數38家，合併後共89家，期藉此整合銷售及客戶資源，擴大市場占有率及提升服務品質。
（Chung-Hua Shen is a Professor and the Chairperson of Department of Money and Banking, National Chengchi University）
（作者是政治大學商學院金融系教授兼系主任）
【2005/06/26 經濟日報】
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