從第一、大安及泛亞銀行合併探索銀行合併之效果及其可行性

Abstract

在世界地球村的形成及全球經濟脈動連結日深情況下，金融的自由化與國際化乃成趨勢。而為國際連貫加大競爭力，以鞏固擴展企業之版圖，自九十年代以來，國際性大銀行即掀起合併風潮，諸如美國商業銀行與眾國銀行、花旗銀行與旅行者集團，及東京銀行與三菱銀行之合併案等，目的都是為了減少業務風險、降低營運成本，以提升獲利。 我國金融產業在政府開放新銀行設立後，進入百家爭鳴的時代，市場競爭非常激烈，各銀行為擴充業務一再降低授信門檻，呆帳率居高不下，使得經營品質難以提昇及獲利下降。加以金融的自由化及國際化，使非傳統銀行業亦加入爭食金融大餅，間接金融的生存空間越來越小。在這種金融競爭環境下，銀行未來除提供更多專業及多元化服務外，尋求合適的合併對象，應為最經濟有效的方式。所以財政部近二年多來一直在積極推動各銀行合併，包括如台銀、土銀及中信局，中國商銀、世華銀行及上海商銀，第一、大安及泛亞銀行合併案等，以提升競爭力。 由於規模及經營體質相近之銀行合併似較為可行與被大眾所接受，至於大小規模與經營體質差異大的銀行合併之效果及其可行性如何，一般對其瞭解似較小，實有加以探索之必要。因此，本研究即以第一、大安及泛亞銀行之合併為對象，以七大類財務指標及目標銀行特質作為研究變數，衡量三家銀行之經營現況、合併後之可能情境，並分析三家銀行業務面之互補性情形，以分析結論合併效果及其可行性。而據研究結果顯示，三家銀行由於規模與經營體質差異太大，加以業務面不具互補性，使得合併的效果與可行性不大。惟如單純以規模來看，合併後之規模當然加大，且以另一角度而言，可協助政府解決問題金融機構。

Abstract Due to the acceleration of international economic integration in our global village, liberalization and globalization of financial institutions became the unavoidable trend. In order to respond quickly to the rapidly growing competitions among industry, large international banks tend to merger since the beginning of the 90’s. Bank of America merged with NationsBank. Travelers Group tied the knot with Citicorp. Nippon Trust Bank Limited and the subsidiary of The Bank of Tokyo Mitsubishi, Ltd., Tokyo Trust Bank merged under the aegis of Mitsubishi Trust Bank and established the Mitsubishi Trust Bank. These are all very well known cases. The increased merger and acquisition activities are to decrease business risk and lower the operation cost in order to pursue more profit. Banks in Taiwan, like those in any other countries, must face server competitions nowadays. The competition is even worse after new banks establishment was de-regulated by the government. In order to stay in the market and compete with a large number of financial institutions. Banks tend to have extension of loans but ended up with failed loans that drives down profit margins. Indirect financing became less employed. Most banks, once dominated business lending, struggled to survive from competition with non-bank lenders like life insurance, brokerage, and finance companies. Banks in Taiwan must not only provide more professional and diversified service, but also seek suitable partners to merge. In recent two years, Ministry of Finance encouraged banks to have corporate combination in order to increase their efficiency and become more competitive. Just recently, Taiwan Banks, Land Bank of Taiwan and Central Trust of China were planning the merger project. Besides, there are other merger cases such as ICBC-United World Chinese Commercial Bank-The Shanghai Commercial & Saving Bank, Ltd.; First Commercial Bank-Dah Ann Commercial Bank and Pan Asia Bank. For efficiency gained from exploiting scale economies, banks tend to have corporate combination with others of similar scale and constitution. Little studies were done to comprehend the relationship between the scale of banks, operating characteristics and the feasibility of merger. Therefore, the study is to have a case study on the merger of three banks--First Commercial Bank-Dah Ann Commercial Bank and Pan Asia Bank. The study addresses seven financial indicators and characteristics of target banks as the variables to evaluate the business performance of the banks and the possible consequence may occur after the merger. The complementary of business operation of the three banks would also be analyzed, for whether the merger may enhance the weakness of each bank generally speaking may be one of the motives of merger. According to the study result, there is not much similarity in business scale or scope between these three banks. It seemed that no complementary effect would be employed after consolidation. The possibility of a success merger may not be obvious. However, the merger would definitely increase the scale of the bank. On the other hand it some how solves some problems of financial institutions, for the government sake.