Chinatrust Bank calls $10 million Taiwan media pitch

According to insiders the pitch is in its third and final stage.

Challenging Carat for the account are MEC, Starcom, Media Palette and local agency Mediadrive.

A source close to Chinatrust’s business operation said the pitch had been called because “with media agencies, price is everything. Chinatrust wants to see what pricing other agencies will offer.”

Chinatrust is Taiwan’s largest private bank, with 142 outlets across the island, and is also the largest credit card issuer. Its media account, believed to be worth an annual NT$350 million (US$10.6 million), includes advertising for a full range of banking services from credit cards to personal finance and the Public Welfare Lottery, which it manages.

Carat has a longstanding relationship with Chinatrust and has held the media account in Taiwan for 10 years. United Advertising remains Chinatrust’s agency-of-record, and has a ‘core service’ contract with Carat. Chinatrust uses Leo Burnett for its advertising for the Public Welfare Lottery.