Fubon Financial Taiwan's Most Profitable FHC in February
2011/03/15 | By Judy LiTaipei, March 15, 2011 (CENS)--Fubon Financial Holding Co. scored after profits of NT$3.49 billion (US$112.58 million) in February, the highest among Taiwan's 14 financial holding companies (FHCs), with first-two-month profits rising to NT$8.59 billion (US$277.1 million) and earnings-per-share (EPS) of NT$1 (US$0.032), also the highest.
In the same month Cathay Financial Holding Co. posted after-tax profits of only NT$1.21 billion (US$39.03 million), much lower than expected to rank No. 4 among the 14 FHCs, to which a senior manager attributes the lackluster performance of its insurance arm—Cathay Life Insurance Co., which posted profits of only NT$230 million (US$7.42 million). However, Cathay Financial's strong banking arm—Cathay United Bank—posted considerable profits of NT$940 million (US$30.32 million) during the month.
China Development Financial Holding Co. was the only FHC in the red in February as its two affiliates—China Development Industrial Bank and Grand Cathay Securities—both posted losses, resulting for the FHC a deficit of NT$380 million (US$12.26 million).
Profitability of Taiwan's 14 FHCs (February and First 2 Months in 2011) | |||
FHC | After-tax profits in Feb. | After-tax profit in first 2 months | EPS (NT$) |
Fubon | 3.49 | 8.59 | 1 |
Waterland Financial | 1.039 | 1.212 | 0.53 |
Taishin Financial | 1.11 | 2.22 | 0.34 |
Mega Financial | 1.294 | 2.832 | 0.26 |
Cathay | 1.21 | 2.61 | 0.26 |
Yuanta Financial | 0.929 | 2.083 | 0.26 |
Chinatrust Financial | 1.609 | 2.692 | 0.25 |
E. Sun Financial | 0.414 | 0.923 | 0.24 |
Hua Nan Financial | 0.609 | 1.342 | 0.2 |
First Financial | 0.557 | 1.316 | 0.2 |
Shin Kong Financial | 3.306 | 1.547 | 0.18 |
SinoPac Financial | 0.421 | 1.022 | 0.15 |
Jih Sun Financial | 0.077 | 0.206 | 0.07 |
China Development | -0.38 | 0.225 | 0.02 |