Net fund outflows from foreign investors totaled US$4.68 billion last month, which is slightly down from a month earlier, but still comparatively high, Financial Supervisory Commission (FSC) data showed yesterday.
The commission revised its March data, raising the net foreign fund outflows from US$5.94 billion to US$6.89 billion, as some foreign investors corrected their reporting, the FSC said.
March’s revised number is still the second largest in a single month over the past three years, after US$10.3 billion in March 2020, commission data showed.
Last month’s net fund outflows correlated with foreign investors’ selling a net NT$259.5 billion (US$8.79 billion) of local shares,
Citibank Taiwan, DBS Bank Taiwan hit for AML failings
By Kao Shih-ching / Staff reporter
The Financial Supervisory Commission (FSC) yesterday fined Citibank Taiwan Ltd (花旗台灣) NT$10 million (US$357,194) and DBS Bank Taiwan (星展台灣) NT$6 million for breaches of the nation’s anti-money laundering (AML) regulations.
The NT$10 million fine is the highest penalty that it has imposed on a domestic bank, the commission said.
Citibank Taiwan failed to set up a sound mechanism for evaluating clients’ risk of money laundering and for detecting suspicious transactions, Banking Bureau Deputy Director-General Huang Kuang-hsi (黃光熙) told a news conference in New Taipei City.
A Financial Supervisory Commission sign is shown in New Taipei City in an undated photograph. The commission yesterday fined Citibank Taiwan Ltd NT$10 million (US$357,194) and DBS Bank Taiwan (星展台灣) NT$6 million for breaches of the nation’s anti-money laundering (AML) regulations.
Banks’ combined pretax profits grow 76%
By Kao Shih-ching / Staff reporter
Local banks’ combined profit grew in March, for the first time since May last year, thanks to an increase in investment gains and interest income, data released by the Financial Supervisory Commission on Thursday showed.
The banks’ combined pretax profits grew 76 percent year-on-year to NT$32 billion (US$1.15 billion) in March, ending 10 consecutive months of annual declines, the data showed.
Banks recorded an annual increase of NT$14.25 billion in combined investment gains as financial markets boomed, while their net interest income rose by NT$1.4 billion, the data showed.
A Financial Supervisory Commission sign is pictured in an undated photograph in New Taipei City. The commission reported on Thursday that local banks’ combined pretax profits grew 76 percent year-on-year to NT$32 billion (US$1.15 billion) in March, ending 10 consecutive months of annual declines.