The nation’s banks had an average bad loan ratio of 0.41 percent at the end of November, down from 0.43 percent one month earlier, as the sector’s asset quality remained healthy, the Financial Supervisory Commission said yesterday.
Total nonperforming loans were NT$96.5 billion (US$3.22 billion) as of Nov. 30, down NT$3.8 billion from NT$100.3 billion the previous month, the commission said.
The commission said Taiwan’s 39 domestic banks all kept their ratios below the 2 percent regulatory threshold.
The overall coverage ratio — the loans covered by banks’ provisions and a gauge indicating the sufficiency of bad loan reserves — was 285.72 percent in November, up from 274.24 percent in October, the commission said.
Government data show that domestic banks’ aggregate outstanding loans totaled NT$23.25 trillion in November, up NT$115.9 billion on a monthly basis, which the commission said suggested more active lending by banks.
The commission said it will ask underperformers to take more action to strengthen asset quality.
Separately, the commission fined CTBC Financial Holding Co (中信金控) NT$2 million for failing to safeguard customer information in violation of confidentiality rules.
A commission probe found that CTBC Financial let its insurance unit pitch products to customers of its banking subsidiary without securing the customers’ consent.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
TRANSFORMATION: Taiwan is now home to the largest Google hardware research and development center outside of the US, thanks to the nation’s economic policies President Tsai Ing-wen (蔡英文) yesterday attended an event marking the opening of Google’s second hardware research and development (R&D) office in Taiwan, which was held at New Taipei City’s Banciao District (板橋). This signals Taiwan’s transformation into the world’s largest Google hardware research and development center outside of the US, validating the nation’s economic policy in the past eight years, she said. The “five plus two” innovative industries policy, “six core strategic industries” initiative and infrastructure projects have grown the national industry and established resilient supply chains that withstood the COVID-19 pandemic, Tsai said. Taiwan has improved investment conditions of the domestic economy
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day