Consumer demand boosts banks’ loans

RECOVERING CONFIDENCE: The central bank said that some banks offered better rates to boost lending at the end of the year, as it is usually a busy real-estate season

Taipei Times
Date: Jan 28, 2019
By: Chen Cheng-hui  /  Staff reporter

Booming consumer demand last month helped boost domestic banks’ mortgage, construction, auto and other loans to record-high levels, central bank data released on Friday showed.

Housing loans last month grew for the 22nd consecutive month to NT$6.98 trillion (US$226.4 billion), up NT$36 billion, or 0.52 percent, from the previous month, the data showed.

On an annual basis, housing loans grew NT$329.6 billion, or 4.96 percent — the fastest pace in eight years, they showed.

Construction loans — which mostly include loans to construction companies for housing projects and land development — reached NT$1.86 trillion at the end of last month, rising NT$26.1 billion, or 1.42 percent, from November last year, the data showed.

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.