By: Tsai Yi-chu and Frances Huang
Taipei, Feb. 4 (CNA) Loans extended by banks registered in Taiwan to small and medium sized enterprises (SMEs) here for 2016 surpassed the goal set by the government, according to the Financial Supervisory Commission (FSC).
The FSC said such loans totaled NT$274.4 billion (US$8.85 billion) last year, topping the government’s goal of NT$240 billion.
As of December 2016, loans to SMEs were NT$5.7268 trillion, up from NT$5.4524 trillion recorded at the end of 2015, the statistics indicated.
The 5.73 trillion accounted for 58.79 percent and 61.56 percent of banks’ total loans to all enterprises in Taiwan and to the private sector, respectively, the FSC said.
Strong seasonal fund demand in December boosted the banks’ lending to SMEs for the entire year, according to the data. [FULL STORY]