At the start of the Lunar New Year, amidst the auspicious energy of the Year of the Dragon, the Bank of Taiwan (BOT) marked the resumption of bank operations on the sixth day (February 15) of the Lunar New Year. In the main hall of the bank headquarters, the air was filled with the harmonious melodies of a chamber sextet ensemble, signifying the dawn of the new year. Esteemed dignitaries were treated to timeless New Year melodies, including the traditional "Cheers" song. BOT Chairman Lyu Jye-Cherng led senior-level executives to converge on this joyous occasion, extending warm greetings to customers and employees alike. Wishing everyone abundant blessings, they embraced the promising start of the New Year together, filling the venue with cheerful spirits.
During his address, Chairman Lyu conveyed heartfelt appreciation to all BOT employees for their dedication throughout the past year, and credited the exceptional operational performance to the collaborative efforts of the management team and all employees. Highlighting achievements, he noted a pre-tax profit of NT$28.4 billion, which, after factoring in a NT$9.9 billion burden in policy tasks, amounted to an impressive NT$38.3 billion. Furthermore, the non-performing loan ratio decreased to 0.086%, with a coverage ratio of 1726%, resulting in a notably high Return on Risk-Weighted Assets (RORWA). Chairman Lyu emphasized that this laudable achievement culminated years of continuous effort, underscoring unparalleled achievements. Indeed, whether in terms of quantity or quality, it can be said that there has been a paradigm shift and substantial growth for the BOT. On the eve of the Spring Festival, employees upheld their diligent dedication and provided quality services to the public. In the Lunar New Year's initial days, NT$86.7 billion in new banknotes were exchanged. Employees remained committed to their duties throughout the Lunar New Year holidays, ensuring uninterrupted ATM operations with round-the-clock service and conducting 2,310 cash replenishments. With approximately 680,000 transactions processed at ATMs, the collaborative efforts of employees from the IT Department and various branches tirelessly provided seamless financial services to the public actively contributed to the festive atmosphere by facilitating the public to fill red envelopes with new banknotes, spreading joy and happiness.
Looking ahead to the economic outlook 2024, the theme adopted is "Steady Progress." With the global economy gradually recovering, each industry faces its own set of challenges and opportunities. Domestic consumption continues to show a steady growth trajectory, and the implementation of the three major investment plans for Taiwan bodes well for economic stability and growth. In January 2024, the BOT recorded a pre-tax profit of NT$3.76 billion, which, when factoring in policy task burdens amounting to NT$840 million, reached a total of NT$4.6 billion. This marks a promising start to the year. The BOT maintains an extremely prudent approach to asset management, with a focus on achieving a low non-performing loan ratio and high coverage rates, reflecting the BOT’s long-term management strategy. Chairman Lyu expects all BOT employees to embrace the ethos of steady progress, grounded in hard work and perseverance. He encouraged all colleagues to seize opportunities, advance sustainability through practical initiatives, and establish the BOT as a steadfast partner for government and industries. By fostering stability in financial development and radiating warmth and positive energy, success will undoubtedly be achieved through steadfast dedication and learning from past experiences.
The business resumption ceremony of the Bank of Taiwan for the Year of the Dragon was filled with a vibrant cultural and artistic ambiance. Renowned musicians from Taiwan's music scene have been invited to perform various Lunar New Year melodies, presenting festive greetings to the esteemed guests. Chairman Lyu also specially prepared auspicious oranges and apples, conveying New Year blessings to all attendees. He also extended wishes for a year abundant with prosperity, peace, and happiness, with blessings and strength multiplying abundantly in this auspicious Year of the Dragon. With Chairman Lyu's leadership, it is believed that the BOT will continue to achieve outstanding results in the new year, resulting in further breakthroughs in the bank's development.