Taiwanese financial institutions' loans hike 0.67% at end-May

Annual growth rate rose to 5.71% due to reduced bank claims.

The total outstanding loans and investment of Taiwanese monetary financial institutions grew 0.67% at end-May, according to the Central Bank of Taiwan.

The annual growth rate spiked to 5.71% because of a smaller decrease in bank claims on the government and faster growth in bank claims on government enterprises.

Taking into account the loans and investments extended by life insurance companies, reclassified non-accrual loans, and funds raised directly from capital markets, the total outstanding amount of funds raised by the non-financial sector would show an annual growth rate of 4.98%, lower than the 5.06% registered at the end of the previous month.

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