Taiwan’s banks have been supported through a year of very good gross domestic product growth, as the country’s strong exports helped it achieve a 6.3% increase during 2021. A rise in consumer spending, supported by the island nation’s low Covid-19 case numbers, also contributed.
CTBC Bank remains the biggest lender in the country, although it falls two places in the Top 1000 ranking to 158th. This is despite the bank seeing a relatively strong 6.0% increase in Tier 1 capital to $11.59bn. Bank of Taiwan (BOT), the second-largest lender, manages to climb four places to 168th place in the global ranking. The bank saw its Tier 1 capital increase by 5.1%, while its pre-tax profits increased by 41.6%, the largest percentage growth recorded for a Taiwanese bank.