The nation’s 38 credit-card issuers averaged a 0.91 percent ratio of non-performing loans (NPL) as of the end of January, 0.05 percentage points down month-on-month, the Financial Supervisory Commission’s latest statistics showed yesterday.
In January, the nation’s 18.9 million active cardholders had a total of NT$203.8 billion (US$6.4 billion) in revolving credit, down from NT$208.1 billion in the previous month, Lin Tung-liang (林棟樑), deputy director of the commission’s banking bureau, told a media briefing.
Credit card spending, however, declined by NT$11.7 billion month-on-month to NT$123.3 billion in January “as many department stores ended their promotional sales in December,” Lin said.
Amid the nation’s 38 card issuers, Chinfon Commercial Bank (慶豐商銀) still held the highest bad-loan ratio of 6.89 percent, which is expected to drop to less than 3 percent after its bad loans are written off.
The NPL ratio of cash card lending also declined to 2.159 percent in January, down 0.112 percentage points from the previous month, the data found.
Among the nation’s 19 cash card issuers, outstanding unsecured loans totaled NT$64.1 billion in January, NT$1.2 billion down from the previous month, the data showed.
In separate news, the commission yesterday reiterated its plan to soon integrate a property transaction and pricing information platform under the Joint Credit Information Center, which will provide a reference to domestic banks’ appraisals of property collateral when granting mortgages, the commission’s chief secretary Shiau Chang-ruey (蕭長瑞) told yesterday’s media briefing.
To facilitate the platform, the center will soon collect data from local banks, private property associations and courts, which often organize property auctions, Shiau said.
The platform, however, will not be open to the general public, he said.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
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