DBS Bank (星展銀行) yesterday said that an economic recovery in Taiwan has led to a 10.8 percent annual increase in its small and medium-sized enterprise (SME) lending in the first half of this year.
With aggregate SME loans of NT$33.63 billion (US$1.1 billion), DBS has outperformed other foreign banks operating in Taiwan by 2.09 times, Taiwan managing director Lim Him-chuan (林鑫川) told a news conference in Taipei.
DBS has also become the biggest provider of SME, micro and working capital loans in Taiwan, Lim added.
The Singaporean bank said that while SME lending in Taiwan is facing more competition, it remains an attractive market due to immense demand for funding from 1.4 million local businesses
In the first half, the bank launched an online loan platform where small businesses can quickly apply for loans, with many receiving a preliminary quote and report within three minutes, the bank said.
More than 2,000 clients have signed up for the platform, Lim said.
The lender has also launched a VIP service for about 200 SMEs, which are able to fast-track their loan applications by pre-filling forms online, the bank said.
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