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Taishin Bank fined NT$30m for lax internal controls
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Credit card spending increases as online shopping thrives
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FSC approves two e-payment firms - Taipei Times
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Local banks’ overseas branches regained momentum in April as their pretax profits rose 147 percent year-on-year to NT$3.45 billion (US$124.45 million), compared with an annual decline of 23.2 percent in the first quarter, Financial Supervisory Commission data showed.
Banks’ overseas branches were under less pressure from bad loans in April, enabling them to set fewer loan provisions and write off fewer bad loans, Banking Bureau Deputy Director-General Huang Kuang-hsi (黃光熙) told a videoconference on Thursday.
Overseas branches had been battling with rising non-performing loans since the middle of last year, as many of their debtors failed to repay loans because the COVID-19
CTL fined over faulty beneficiary disclosure: FSC
By Kao Shih-ching / Staff reporter
The Financial Supervisory Commission (FSC) yesterday fined Hong Kong-based Capital Target Ltd (CTL, 建群), a major shareholder of Jih Sun Financial Holding Co (日盛金控), NT$25 million (US$898,569) for its faulty beneficiary disclosure and ordered CTL to offload part of its stake in Jih Sun within a year.
CTL holds a 24.09 percent stake in Jih Sun and the commission would allow the company to retain a 5 percent stake, Banking Bureau Deputy Director Sherri Chuang (莊秀媛) told a videoconference, adding that its regulations require any shareholder with more than a 5 percent stake in a local financial conglomerate to reveal its beneficiaries.