Banks’ China units had zero nonperforming loans - News Summed Up

Banks’ China units had zero nonperforming loans


By Kao Shih-ching / Staff reporterThe Chinese branches of Taiwanese banks reported zero nonperforming loans (NPLs) in January — the first time in more than 26 months, Financial Supervisory Commission data showed. That came after CTBC Bank (中國信託銀行) wrote off NT$31 million (US$1.032 million) in bad debt in January, while the other banks did not see any increase in nonperforming loans, the data showed. However, it would be too early to conclude that banks would tighten lending standards amid fears over the outbreak in China, Chiu said. The Chinese branches are not likely to slow their lending business, as the loans provide better interest income given higher interest rates in China, he said. Meanwhile, the nation’s banks reported an annual decline of 6.7 percent in pretax profit to NT$34.91 billion as the Lunar New Year holiday led to fewer working days, the data showed.


Source: Taipei Times March 04, 2020 15:56 UTC



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