Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: lorne who wrote (71718)	6/14/2001 2:56:58 PM
From: lorne	Read Replies (1) \| Respond to of 116753

Taiwan's Seven Major Banks Suffer Record Non-Perfoming Loans in May TAIPEI, June 13 (AFP) - Taiwan's seven major banks posted recordnon-performing loans at the end of May as the economy continued to flounder,the China Times reported Wednesday. The seven banks recorded a total over 445 billion dollars (13 billion US)in NPLs at the end of May, the paper said. The figure compared to NPLs totalling 842.3 billion dollars recorded by all53 domestic banks at the end of March.Meanwhile, the average NPLs as a percentage of total loans for the sevenbanks reached hit 6.5 percent, compared with 5.89 percent figure for all banksin March, it added. The rise in the NPLs was mainly attributed to soaring financial problemsfaced by local enterprises, growing unemployment, and sluggishness in theproperty market, the paper said. Among the seven banks, Taiwan Cooperative Bank had the highest NPLs withover 78 billion dollars while Medium Business Bank of Taiwan had the highestNPL ratio of 8.9 percent. Others included in the seven are Bank of Taiwan, Land Bank of Taiwan, FirstCommercial Bank, Hua Nan Bank, and Chang Hwa Bank.Some bank officials predicted total NPLs for the seven banks could reach500 billion dollars later this year because the economy had not shown any clearsigns of recovery.Late last month Taiwan marked down its 2001 economic growth forecast to4.02 percent after announcing first-quarter growth of 1.06 percent from a yearearlier. The first quarter figure was the lowest in 26 years as the globalslowdown took its toll on the island. news.chinatimes.com