Sinopac and Taishin reveal loan exposure in Spain

Banks assured customers that they will watch closely on their loan exposure in the European country.

Sinopac Financial Holdings Co. said Monday its unit Bank SinoPac's exposures in Spain include syndicated loans worth around NT$687 million (US$21.39) and interbank placement of US$30 million.

"Bank SinoPac will keep a close watch on the financial development in these countries and the operation performance of the borrowers," it said in a statement.

In a separate statement, Taishin Financial Holding Co. said Monday its exposure to Spanish investments or loans total US$200,000, and it doesn't have any credit exposure to Greece or Portugal. Taishin International Bank, its unit, has US$253,000 worth of loans that are exposed to Spain, the company said in a report in the Wall Street Journal.

"Taishin is not worried about the exposure since the exposure comes mainly from exporter counterparts who repay scheduled principal and interest in a timely manner," it said in a statement.

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