CLOUDY 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 investors
Taipei Times
Date: May 14, 2020
By: Kao Shih-ching / Staff reporter
An undated photograph shows the entrance of Taishin Financial Holding Co headquarters in Taipei.
Photo: Wang Meng-lun, Taipei Times
Taishin International Bank (台新銀行) reported a 23.5 percent increase in corporate loans to NT$552 billion (US$18.46 billion) in the first quarter, from NT$447 billion a year earlier, the parent company told an investors’ conference in Taipei.
The loan book grew significantly in March as many big companies applied to increase borrowings to prepare for the fallout of the pandemic and to maintain their business operations, Taishin Financial head of wholesale banking Sharon Lin (林淑真) said, adding that most of them are short-term loans.
Lending to manufacturers accounted for 37.7 percent of its total corporate loans, followed by 20 percent for financial companies, 14.2 percent for property and construction firms, 10.6 percent for the retail and wholesale sector, and 6 percent for transportation and telecom firms, she said.
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