Taiwanese banks’ New Southbound lending surges through April

國銀新南向國家授信放款在4月激增

TAIPEI (Taiwan News) — Taiwanese banks’ lending to New Southbound Policy countries increased by NT$230.1 billion (US$7.3 billion) in the first four months of this year, CNA reported Monday.

Financial Supervisory Commission data showed outstanding loans to New Southbound countries totaled NT$2.23 trillion at the end of April, up NT$47.7 billion from the previous month. The annual lending growth target for this year was set at NT$80 billion and had already been achieved ahead of schedule in February.

The FSC said the government continues to support the New Southbound Policy through diversified financing channels and broader financial assistance aimed at strengthening Taiwan’s economic ties with regional partners. The policy covers Southeast Asia, South Asia, Australia, and New Zealand.

Australia recorded the largest increase in outstanding loans since the end of last year, rising NT$77.8 billion, followed by Singapore at NT$53.8 billion, Vietnam at NT$41.4 billion, and India at NT$32.6 billion, per Liberty Times. The FSC said banks attributed the gains mainly to stronger economic activity and rising corporate financing demand in those markets.

Among domestic lenders, Taipei Fubon Bank posted the largest increase in New Southbound loans, up NT$29.3 billion from the end of last year. It was followed by E.Sun Bank, Taishin Bank, Mega International Commercial Bank, and CTBC Bank.