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Taiwan OBUs' loans in January hit new high

Taiwan OBUs' loans in January hit new high

Taipei, March 3 (CNA) The total value of all outstanding loans made by offshore banking units (OBUs) of the banks operating in Taiwan in January hit a new high due to fund demand around the Lunar New Year, Taiwan's central bank said Friday. As of the end of January, the total value of all outstanding loans extended by the OBUs reached US$60.666 billion, up US$968 million from the previous month, the central bank said, adding that 99. 9 percent of the borrowing was from overseas clients. The central bank explained the ratio was high because Taiwanese small- and medium-sized enterprises operating in China had strong demand for capital for the Chinese New Year period in late January. At the end of last month, among the OBUs of 62 banks operating in Taiwan, 37 were domestic banks and 25 were foreign banks, with total assets of a record high of US$149.114 billion, an increase of US$27.471 billion or 22.58 percent from a year earlier. In the analysis of fund usage, borrowing counted for the most, which represented 41 percent of the total assets. The total turnover of foreign exchange trading made by all OBUs in January stood at US$21.126, the central bank added. The data showed that most of the funds went to Asia, which accounted for 63 percent, followed by America with 26 percent and Europe with 8 percent. (By Kao Chao-fen and Hanna Liu)


Updated : 2021-04-19 00:06 GMT+08:00