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    题名: 策略與流程觀點下企業併購後資訊與作業整合之個案研究: 以台新大安銀行及中信萬通銀行之合併為例
    Managing Strategy and Process of Post-merger Integration of IT and Operations: Case Studies on M&A of Taishin-Dah An and Chinatrust-GCB
    作者: 蔡明欽
    贡献者: 苑守慈
    蔡明欽
    关键词: 台新大安銀行及中信萬通銀行之合併
    日期: 2007
    上传时间: 2009-09-14 09:53:24 (UTC+8)
    摘要: 策略與流程觀點下企業併購後資訊與作業整合之個案研究: 以台新大安銀行及中信萬通銀行之合併為例
    Abstract

    Managing Strategy and Process of Post-merger Integration of IT and Operations: Case Studies on M&A of Taishin-Dah An and Chinatrust-GCB

    By

    Mark Tsai

    In view of highly competition in today’ banking market, the need of merger and acquisition has been significantly increasing nowadays in order to sustain and grow through non-organic growth approach. As a result, the success of post-merger integration becomes critical to ensure synergy will be generated after merger and acquisition.

    Through field research, this paper attempts to adopt two cases of banks’ integration to prove that clear strategies and a sound framework of managing post-merger integration is essential. There are Taishin International Bank acquired Dah An Bank in 2001 and Chinatrust Commercial Bank acquired Grand Commercial Bank in 2003. Both of these two cases completed integration of banks’ systems and most of operations within six months.

    By interviewing with executives of the banks and analyzing primary and secondary data, this paper tries to figure out strategies of the acquiring banks. The banks’ different branch models (i.e. full service or deposit-taking) are addressed. Furthermore, the differences of elapsed time of system migration against size of the banks are in-depth discussed. The KSFs (key success factors) of integration are proposed based on findings. At the same time, propositions are debated by using other cases of M&As in this paper.

    In the end, the author intends to provide practical managerial implications based on insight of this research. A diagnostic checklist of managing post-merger integration is proposed. Thereafter, a holistic process of managing operations and system integration is rendered by analyzing specific steps of post-merger integration of those banks.

    Keywords: Mergers and Acquisitions; Post-merger Integration; Key Success Factors; Information Technology; Core Banking; Data Conversion; Business Process Re-engineering
    Section 1 Introduction 1
    Section 2 Background Information 3
    Market of Taiwanese Banking Industry 3
    The Financial Reforms of Taiwan 6
    Introduction of Acquiring and Acquired Banks 8
    Introduction of Taishin International Bank 8
    Introduction of Dah An Commercial Bank 10
    The Merger of Taishin and Dah An 12
    Introduction of Chinatrust Commercial Bank 13
    Introduction of Grand Commercial Bank 15
    The Merger of Chinatrust and GCB 16
    Section 3 Literature Review 17
    Post-merger Integration 17
    Key Success Factors of Post-merger Integration 19
    Section 4 Research Methodology 26
    Research Motivation 26
    Primary and Secondary Data Sources 27
    Conceptual Framework 29
    Section 5 Analysis 31
    Key Business Strategies of Taishin and Chinatrust 31
    Integration Organization and HR Issues 40
    IT and Operations Integration 50
    Selection of Branch Operations Model 50
    Trend of IT and Related Issues of IT Integration 62
    Process of IT and Operations Integration 71
    Key Success Factors of IT and Operations Integration 79
    Post-Merger Performance 95
    M&A Results of Taishin-Dah An 95
    M&A Results of Chinatrust-GCB 98
    Propositions 101
    Section 6 Conclusion and Recommendation 111
    Conclusion 111
    Recommendation 115
    Discussion 117
    Bibliography 119
    Figure 2.1 Trend of Interest Rate 3
    Figure 5.1 A Strategic Map of an Acquiring Bank 32 43 47
    Figure 5.2.1 A Chart of Integration Organization
    Figure 5.2.2 Post-merger Stock Price

    - vi -

    - vii -
    LIST OF FIGURES
    Figure 4.1 Conceptual Framework of Analyzing Case Studies 29
    Figure 5.3.1.1 An Evolution of Branch Operation Model 55
    Figure 5.3.1.2 Net Income before Tax after Branch Re-engineering 56
    Figure 5.3.1.2 Organization Chart of Dah An Commercial Bank 59
    Figure 5.3.1.3 Organization Chart of Grand Commercial Bank 59
    Figure 5.3.1.4 Unit Cost of Transaction Taken at Different Channels 62
    Figure 5.3.2.1 An Overview of Systems of a Typical Commercial Bank 65
    Figure 5.3.3.1 Boston Box 74
    Figure 5.3.3.2 An Action Plan Based on Result of Gap Analysis 76
    Figure 5.5.1 Survey Result of the Questionnaire 103 104 106
    Figure 5.5.2 Selection of systems
    Figure 5.5.3 Evolutionary Stages of IT Integration for Banks
    Figure 6.1.1 Factors of Driving Success of M&A Synergy and Achieve Acquiring Bank’s Goals 112
    Figure 6.1.2 Relations Diagram – Integration of IT and Operations Towards M&A Synergy 113

    - ix -

    LIST OF TABLES
    Overall Taiwanese Banks’ Profit 3
    Non-Performing Loan (NPL) Ratio Statistics 5
    Number of Financial Institutions in Taiwan 5
    Financial Size of Taishin before M&A 9
    Efficiency Ratio of Taishin before M&A 9
    Condensed Income Statement of Taishin before M&A 10
    Financial Size and Relevant Data of Dah An before M&A 11
    Condensed Income Statement of Dah An before M&A 12
    Financial Size of Chinatrust before M&A 14
    Condensed Income Statement of Chinatrust before M&A 14
    Financial Size of GCB before M&A 15
    Condensed Income Statement of GCB before M&A 15
    Table 5.3.1.1 Credit Card Issued by the Top 3 in Taiwan 50
    Table 5.3.1.2 Chinatrust’s Revenue Breakdown by Business 51
    Table 5.3.1.3 Different Nature of Branch at Corporate and Consumer Focus Bank 52
    Table 5.3.1.4 Accountability of Full-Service Branch Manager 53
    Table 5.3.1.4 A Comparison of Operations Productivity 58
    Table 5.3.1.4 Combined Staffing Projection 61
    Table 5.3.2.1 Comparison of TABS and NT system 66
    Table 5.3.2.2 Comparison of Legacy and New Core Banking System 68
    Table 5.3.4.1 Milestones of System Migration of four M&A cases 83
    Table 5.3.4.2 Size of Bank of Cathay, UWCCB, Fubon and Taipei at the time of M&As 84
    Table 5.3.4.3 Size of Bank of Taishin, Dah An, Chintrust and GCB at the time of M&As 84
    Table 5.3.4.4 Milestones of Post-merger IT integration of Taishin 88
    Table 5.4.1.1 Condensed Income Statement of Taishin after M&A 97
    Table 5.4.1.2 Number of Employees of Taishin Bank 98
    Table 5.4.1.3 Asset and Equity of Taishin Bank after merger 98
    Table 5.4.2.1 Condensed Income Statement of Chinatrust after M&A 99
    Rating for Objective and Priority of IT Integration 102
    Size of Bank of Taiwan Cooperative Bank and Farmers Bank of China at the time of M&As 109
    Correlation between Relative Size and Elapse Time of System Migration 110
    Diagnostic Checklist to Predict Prospect of Post-merger Integration 115
    - viii -
    Figure 6.1.3 Correlation between Relative Size and Elapse
    Time of System Migration 114
    Figure 6.2.2 Post-Merger Integration Process of IT and
    Operations 116
    參考文獻: - 119 -
    Bibliography
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    - 121 -
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    描述: 碩士
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    國際經營管理碩士班(IMBA)
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    数据类型: thesis
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