The assets of offshore banking units (OBUs) totaled US$69.22 billion as of the end of last year, although capital coming from Asia dropped while the capital from the US increased to 20 percent, the Directorate General of the Budget, Accounting and Statistics (DGBAS) said yesterday.
As of the end of last year, 70 banks in Taiwan were engaged in OBU operations. These included 42 domestic banks and 28 foreign banks, the DGBAS said.
Assets of OBU operations last year totaled US$69.22 billion, expanding by an average annual rate over the past five years of 10.9 percent.
The source of capital came mainly from deposits of financial institutions, accounting for 61.7 percent at the end of last year.
In terms of the sources of capital, Asia was a major source over the past several years, accounting for more than 70 percent, but the ratio has slipped since 2001. The ratio dropped to 64 percent last year, compared with the US and Europe, which increased to 20 percent and 11 percent, respectively.
In terms of the destination of capital, Asia has been the major destination over the past several years, accounting for 67 percent at the end of last year, followed by the US at 20 percent, and Europe at 10 percent.
There has been an upward trend in Asia over the years, and a downward trend for the US, DGBAS officials added.
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