Reported 12 months ago
According to the Bankers Association, by the end of May this year, the new southbound credit has increased by 1,587 billion yuan, reaching a total balance of 1,744.2 billion yuan, surpassing the target of 634 billion yuan with a rate of 250%. Major countries for credit include India, Australia, Singapore, and Indonesia, with Taiwan's Fubon Bank focusing on Vietnam, India, and Australia for credit. While countries like Cambodia and Thailand saw a decrease in credit balances, overall, southbound loans continue to grow, with Taiwan's Fubon Bank, CTBC Bank, Bank Sinopac, Hua Nan Bank, and Taishin Bank having the largest credit increases. The number of southbound locations totaled 336 by the end of May, with Thailand having the most locations and Taiwan Cement recently setting up a representation office in Ho Chi Minh City.
Source: YAHOO