Taiwan

The bank had failed to establish proper internal control systems

The FSC also ordered the bank to suspend its president for three months.

Total outstanding loans increased to $1.19t at the end of July.

Bank SinoPac has demonstrated its digital strength to accelerate the digitisation of its customer service and internal operations.

Bottom lines are expected to remain flat in the same year.

The country signed a similar agreement with four other countries.

NPLs across the 39 domestic banks in the country totalled US$1.98b.   Taiwan banks’ average non-performing loans ratio stood at 0.16% in May, 0.05 percentage points lower than in the same month in 2021, according to data released by the Financial Supervisory Commission (FSC).   NPLs across the 39 domestic banks in Taiwan totalled US$1.98b (NT$57.58b), an increase of US$0.01b (NT$0.32b) from the $1.97b (NT$57.16b) as of end April.   Total outstanding loans across 39 domestic banks rose to $7.14b (NT$207.5b) during the same period.

The local chemicals industry has as high as 12% of B2B debt turning sour.

Regulator urges banks to treat elderly customers fairly and reasonably.

The digital-only bank has been popular with young people.

NPL ratio of all 39 domestic banks also increase to 0.18%.

The regulator says the asset quality of domestic banks remain ‘manageable’

NPL ratio for 39 domestic banks is now at 0.16%.

The FSC also reported numbers on credit card, cash card, and e-payment businesses.

DBS will pay Citi in cash for the net assets plus a premium of S$956m.

The new platform will be launched in Hong Kong and Singapore before its Taiwan roll-out.