Chinatrust Commercial Bank (中信銀) yesterday announced year-on-year growth in corporate loans of NT$510 million (US$15.8 million) in September — a sign that the bank hasn’t tightened its lending despite the economic slump, the bank said in a press statement.
As of September, the bank granted NT$276.1 billion in loans to companies, up from NT$275.6 billion at the same time last year, its statement said.
Loans to small and medium-sized businesses accounted for 22.5 percent of the its total corporate lending, the bank said.
Citing statistics from the central bank, Chinatrust said that total corporate lending by the domestic banking sector, on the contrary, declined by NT$277 billion to NT$9 trillion in September from a year earlier.
In related news, the board of Fubon Bank (Hong Kong) (富邦香港) yesterday elected Thomas Liang (梁培華) as managing director and chief executive officer, replacing outgoing head Lee Jin-yi (李晉頤).
Liang, former president of Taipei Fubon Commercial Bank Co’s (台北富邦銀行) retail banking division in Taipei, led the bank through problems with consumer loan defaults on credit cards and cash cards.
Credit and cash card earnings have since become a major driving force behind the bank’s profits, Fubon said in a press statement yesterday.
RSS