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Fubon Taiwan's Most Profitable FHC in 2013

2014/01/21 | By Judy Li

Funbon Financial Holding Co. posted after-tax profits of NT$32.69 billion (US$1.076 billion) in 2013, with earnings per share (EPS) of NT$3.31 (US$0.11), both being the highest among Taiwan's financial holding companies.

In the same year three government-linked FHCs, namely, Mega Financial Holding Co., First Financial Holding Co., and Hua Na Financial Holding Co., each scored profits exceeding NT$10 billion (US$333.33 million). Mega saw its profits grow by 4.5% year-on-year to NT$22.477 billion (US$749.23 million), of which NT$18.805 billion (US$626.83 million) came from its banking arm—Mega International Commercial Bank.

Cathay Financial Holding Co. followed Fubon to be the second most profitable FHC with profits of NT$28.96 billion (US$965.33 million) in 2013 despite  suffering loss of NT$970 million (US$32.33 million) in December of the year. Cathay's profits came mainly from its  affiliate—Cathay Life Insurance Co., which gained profits of NT$20.6 billion (US$686.67 million) during the year, the second highest of its kind ever recorded. (JL)

Profitability of Taiwan's FHCs in 2013
FHC

Profits in December 2013 (NT$M.)

Profits in 2013 (NT$B.)

EPS (NT$)

Fubon

480

32.69

3.31

Cathay

-290

28.96

2.49

Mega

1,202

22.477

1.96

Taishin Financial

420

13.87

1.73

E. Sun Financial

475

8.459

1.53

CTBC Financial

-545

21.503

1.5

SinoPac Financial

820

10.705

1.31

First

454

10.866

1.26

Hua Nan

818

10.052

1.11

Yuanta Financial

876

7.738

0.78

Jih Sun Financial

345

2.086

0.68

Waterland Financial

235

1.35

0.52

Source: the said FHCs