TAIPEI (Taiwan News) — Taiwanese banks posted NT$182.3 billion (US$5.78 billion) in New Southbound lending growth in Q1, exceeding the full-year NT$80 billion target by 227%, CNA reported Monday.
Outstanding lending reached NT$2.18 trillion (US$69.08 billion) as of the end of March, rising NT$182.3 billion from the end of last year, according to Financial Supervisory Commission data.
The FSC said the target had been met in February under the New Southbound Policy. The program aims to expand financial ties with Southeast Asia and other regional markets through funding and incentives.
The largest increases were seen in Australia, Vietnam, Singapore, and India, per UDN. Banks said the growth reflects strong economic activity and rising corporate demand for credit.
Among lenders, Taipei Fubon Bank posted the biggest increase, followed by E.Sun Bank, First Bank, Taishin Bank, and Mega International Commercial Bank.
Taipei Fubon Bank said its lending hit NT$194.1 billion in March, a 40% year-on-year increase, driven by demand in India, Australia, and Singapore. It said it will continue expanding in Southeast Asia and other key markets to support clients’ overseas operations.
Cathay United Bank reported nearly 70% year-on-year growth, led by Singapore. It said it is expanding its regional footprint, including plans to open a branch in Mumbai.
CTBC Bank said lending in Southeast Asia posted double-digit growth. It cited supply chain shifts and rising cross-border financial demand, with strong momentum in Singapore and India.
