RETAIL BANKING | Tony Chua, Taiwan

12 Taiwanese domestic banks eye $333.33mn profit

Only six local lenders made it to the NT$10 billion (US$333.33mn) club last year.

Driven by better business climate, about one third of Taiwan`s 37 domestic banks expect profits to exceed NT$10 billion (US$333.33 million) this year.

In the first half 12 domestic banks each posted profits approaching NT$5 billion (US$166.67 million), which is very likely to exceed NT$10 billion (US$333.33 million) for the full year.

The 12 banks are Chinatrust Commercial Bank, Mega International Commercial Bank, Citibank (Taiwan), Cathay United Bank, Taipei Fubon Commercial Bank, Chang Hwa Bank, First Commercial Bank, Land Bank of Taiwan, Taishin International Bank, Taiwan Cooperative Bank, Shanghai Commercial & Savings Bank, and Hua Nan Bank.

Chinatrust already scored profits exceeding NT$10 billion (US$333.33 million) in the first half, the highest of the 12, followed closely by Mega and Citibank (Taiwan) with NT$9.56 billion (US$318.67 million) for the former and NT$8.128 billion (US$270.93 million) for the latter. In the same period, Chang Hwa, First and Hua Nan scored profits of NT$6.717 billion (US$223.9 million), NT$5.603 billion (US$186.77 million) and NT$4.687 billion (US$156.23 million), respectively.

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