Domestic Banks' Foreign Currency Deposits Reach NT$15.9 Trillion, Setting New Record High by End of April

According to statistics from the Financial Supervisory Commission (FSC), foreign currency deposits at domestic banks reached NT$15.9521 trillion by the end of April, continuing to set a new historical high. This represents a monthly increase of NT$268.6 billion, or 1.7%, compared to the end of March. The FSC stated that the growth was primarily driven by corporate clients depositing revenue—including payments for goods, freight income, and trade intermediary service income—as well as the repatriation of overseas investment proceeds and corporate fund reallocation needs.

Excluding exchange rate fluctuations and using the end-of-April USD exchange rate of NT$31.648, foreign currency deposits amounted to US$504 billion at the end of April, up US$13.6 billion from the end of March.

According to FSC data, as of the end of April 2024, six banks remained in the "Trillion-NT Dollar Club" for foreign currency deposits. In descending order, they are CTBC Bank (NT$1.67 trillion), Taipei Fubon Bank (NT$1.28 trillion), Mega International Commercial Bank (nearly NT$1.26 trillion), Bank of Taiwan (NT$1.25 trillion), E.Sun Commercial Bank (NT$1.24 trillion), and First Commercial Bank (NT$1.18 trillion).