Events Committee Events AmCham Banking Committee Luncheon - Fitch Ratings | AmCham Banking Committee Luncheon - Fitch Ratings |
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Taiwanese Banks Post-Crisis Outlook and Challenges amid Credit Boom in China
SPEAKER: Jonathan Lee, Senior director of Fitch Ratings’ Financial Institution Group Taiwanese banking sector averted major losses amid the global financial crisis, thanks to the resilient performance to the overall strong liquidity position of the system. However, given the extremely low interest rates as a result of the liquidity glut, profitability of banks and life insurers will continue to be burdened. The banking sector which is dominated by large state banks in terms of pricing, will be further subdued in 2010, on the back of tepid corporate credit demand, low interest rate environment, and a lack of major market consolidation. The extremely rapid credit expansion among Chinese banks in H109 used to sustain Chinese GDP growth posts one of the greatest external challenges in 2010-2011 to the market stability of the region including Taiwan due to potential deterioration in loan quality and capital strength.
Jonathan Lee, senior director of Fitch Ratings’ Financial Institution Group and lead analyst for Taiwan Financial Institution products, started his career in credit ratings with Fitch in April 2004. Prior to this, Jonathan worked as an equity analyst for several international investment banks including Deutsche Bank, CLSA Securities, W.I.Carr Securities. His 13 years of research experience is mainly focused on financial institutions while his early equity-related experience includes research on heavy industrial companies and conglomerates. Jonathan holds an MA in Economics from Virginia Polytechnic Institution and State University. |
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