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Taiwan's Domestic Banks See Profits Rise 6% to NT$243B. in First 11 Months of 2013

Jan 16, 2014 | By Judy Li

Taiwan's 39 domestic banks chalked up combined pretax profits of NT$243.1 billion (US$8.103 million) in the first 11 months of 2013, up 6% on an annual basis and more than 2012's full-year profits of NT$240 billion (US$8 billion), according to statistics released by Financial Supervisory Commission (FSC).

Of the banks, 12 gained profits of more than NT$10 billion (US$333.33 million) each. CTBC Bank and Mega International Commercial Bank were the top two top earners, posting profits of NT$21.5 billion (US$716.67 million) and NT$20.8 billion (US$693.33 million), respectively.

At the end of November, loans outstanding from the 39 banks totaled NT$23.45 trillion (US$781.67 billion), an increase of NT$115.9 billion (US$3.86 billion) for the month. At the same time their non-performing loans (NPLs) stood at NT$96.5 billion (US$3.22 billion), down NT$3.8 billion (US$126.66 million), leaving an NPL ratio of only 0.41% and an NPL coverage ratio of 285.72%.

Loans extended by domestic banks to small and medium enterprises amounted NT$4.7 trillion (US$156.67 billion) at the end of November, up NT$254.3 billion (US$8.48 billion) from the end of 2012 and more than the full-year goal of NT$240 billion (US$8 billion).

The profits of Taiwanese banks in mainland China totaled US$57 million or about NT$1.7 billion during the first 11 months of 2013, almost 1.5 times their earnings for all of 2012. The Shanghai branch of Taiwan's Cathay United Bank topped the profit tables with over US$10 million, followed by the Shanghai branch of the First Commercial Bank with US$8.5 million. (JL)

Domestic Banks with Profits of Over NT$10B. in First 11 Months of 2013
Rank
Bank
Profit (NT$B.)
1
CTBC
21.5
2
Mega
20.8
3
Cathay
15.7
4
Taishin International Bank
13.9
5
Taipei Fubon Commercial Bank
13.2
6
First
12.1
7
Land Bank of Taiwan
10.5
8
Citibank (Taiwan)
10.5
9
Hua Nan Bank
10.2
10
Shanghai Commercial & Savings Bank
10.1
11
Bank SinoPac
10.1
12
Chang Hwa Bank
10.1
Source: FSC

Profits of Taiwanese Banks in China in First 11 Months of 2013
Bank
Profit (US$M.)
Chang Hwa Bank (Kunshan branch)
About 4.5
First Commercial Bank (Shanghai branch)
Over 8.5
Hua Nan Bank (Shenzhen branch)
About 4.6
Cathay United Bank (Shanghai branch)
Over 10.0
Land Bank of Taiwan (Shanghai branch)
Almost 7.5
Mega International Commercial Bank (Suzhou branch)
About 5.6
Taiwan Cooperative Bank (Suzhou branch)
About 5.0

Bank of Taiwan (Shanghai branch)
About 4.0
E. Sun Bank (Dongguan branch)
Over 2.0
CTBC Bank (Shanghai branch)
Over 5.0
Source: The banks


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