Taiwan’s financial regulator recently released new data on the country’s local banks, noting that asset quality was “getting better unceasingly” (which probably sounds more elegant in the original Mandarin). The island’s 37 domestically-owned banks control more than 90% of the local lending business, and despite faster loan growth this year the ratio of non-performing loans has fallen steadily. In fact, at 0.78% in September, the ratio of sour loans to assets now stands at an all-time low, an achievement few other banking systems can match these days.

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