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To revive the nation’s reverse mortgage policy, the Financial Supervisory Commission (FSC) said it would hold talks with the Ministry of Health and Welfare to optimize existing measures.
As the momentum of the policy had slowed over the past few years, the FSC aims to explore if it is possible to link the policy to social benefit programs, it said.
Newly approved reverse mortgages totaled NT$4.8 billion (US$169,575 million) last year, the lowest since the policy was launched in 2015, FSC data showed.
From 2016 to 2019, annual reverse mortgages were NT$6.2 billion, NT$5.5 billion, NT$5 billion and NT$5.8 billion respectively, it showed.
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Hua Nan Financial eyes expansion in operations
EBB AND FLOW: While its securities arm failed to recover from losses last year, its banking company grew its business to net NT$12.46 billion in profits
By Crystal Hsu / Staff reporter
State-run Hua Nan Financial Holding Co (華南金控) aims to expand fee incomes, investment gains, overseas operations and lending to small and medium enterprises this year, it said on Wednesday.
The bank-focused conglomerate set the goal at a meeting of managers from different divisions after net income slumped to NT$8.66 billion (US$305.94 million) last year, or earnings per share of NT$0.67.
The results suggested a 48.85 percent retreat from earnings per share of NT$1.31 a year earlier, attributable mainly to losses at its subsidiary Hua Nan Securities Co (華南永昌證券).
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2021/02/02 12:17 NT$100 banknotes. NT$100 banknotes. (CNA photo) TAIPEI (Taiwan News) For Taiwanese wanting to put new banknotes in red envelopes for the upcoming Lunar New Year holiday, the country s state-owned financial institutions will provide a banknote exchange service for five days starting Wednesday (Feb. 3). To meet the surging demand for new banknotes ahead of the festive period, the Central Bank will allow people to exchange their old banknotes for new ones through Feb. 9, the Ministry of Finance (MOF) announced Monday (Feb. 1). However, each individual is limited to exchanging their money for no more than 100 new NT$100 cash notes. The exchange service will be offered at 454 designated branches of eight financial institutions, including Bank of Taiwan, Land Bank of Taiwan, Taiwan Cooperative Bank, First Commercial Bank, Hua Nan Commercial Bank, Chang Hwa Bank, Taiwan Business Bank