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Taiwan’s economy helps banks to strong results

Taiwan’s banks have performed well in the rankings, after the government’s fast response to the pandemic and a tech boom led to GDP growth in 2020. 
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Taiwan’s resilient economy and swift government action against the first wave of Covid-19 in 2020 has helped the country’s banks to a strong performance in the Top 1000 banks ranking.

Taiwan’s gross domestic product increased by 2.98% in 2020, thanks to government steps to avoid a full lockdown, and a boom for its technology companies and manufacturers. However, since mid-May, the country has been experiencing a second Covid wave, which could have an impact on the numbers recorded for 2021.

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Kimberley Long is the Asia editor at The Banker. She joined from Euromoney, where she spent four years as transaction services editor. She has a BA in English Language and Literature from the University of Liverpool, and an MA in Print Journalism from the University of Sheffield. Between degrees she spent a year teaching English in Japan as part of the JET Programme.
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