Virus Outbreak: Taishin eyes corporate lending growthCLOUDY VISIBILITY: The firm would retain its original goal of high single-digit growth for the sector this year, but it would be cautious, president Welch Lin told investorsBy Kao Shih-ching / Staff reporterTaishin Financial Holding Co (台新金控) yesterday said its banking unit is expected to see high single-digit percentage growth in corporate lending this year, despite the COVID-19 outbreak. An undated photograph shows the entrance of Taishin Financial Holding Co headquarters in Taipei. “With unclear visibility on corporate lending ahead, we would be more cautious, but still keep our original goal of high single-digit growth in corporate lending this year,” Taishin Financial president Welch Lin (林維俊) said. As loans extended to industries vulnerable to the outbreak, such as tourism, hotels and aviation, made up less than 1 percent of its corporate lending, loan quality should remain sound this year, Sharon Lin said. Despite the loan growth in the first quarter, net fee income from corporate banking fell 24.8 percent annually to NT$314 million, as many syndicated loans had been postponed due to the outbreak, the bank said.

Source: Taipei Times May 13, 2020 15:56 UTC