State-owned Land Bank of Taiwan (土地銀行) is not looking to grow its mortgage and land financing next year to support the government’s bid to cool the property market, chairwoman Hsieh Chuan-chuan (謝娟娟) told a meeting of the legislature’s Finance Committee in Taipei yesterday.
Hsieh said that the nation’s largest mortgage and land loans provider has to keep doing business, but it would not be looking to increase its real-estate lending next year.
Analysts and academics have urged the central bank to introduce fresh credit controls at its quarterly board meeting on Thursday after previous measures have failed to curb property price increases nationwide.
Photo: CNA
The central bank has repeatedly warned against loose lending and efforts by lenders to woo customers through competitive pricing.
Hsieh said that land financing at Land Bank had slowed significantly this year compared with previous years.
The lender’s land financing grew 7 percent this year, lower than the sector’s 9 percent advance, central bank data showed.
The nation’s land loans soared to a 32-year high of NT$2.73 trillion (US$98.22 billion), with Land Bank accounting for 9 percent, data showed.
Land Bank used to outperform the industry in real-estate lending, but opted to show restraint to help tame the property market, Hsieh said.
Other state-run lenders have reportedly set growth rates of 3 to 5 percent for their mortgage operations next year to avoid drawing the ire of policymakers.
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