Fubon Taiwan's Most Profitable FHC in First 11 Months
2013/12/10 | By Judy LiFubon Financial Holding Co. posted after-tax profits of NT$32.209 billion (US$1.074 billion) in the first 11 months of 2013, the highest among Taiwan's financial holding companies (FHCs), followed by Cathay Financial Holding Co. with corresponding NT$29.25 billion (US$975 million).
Both of the said two FHCs have life insurance and banking affiliates. Taipei Fubon Commercial Bank, banking arm of Fubon Financial, witnessed a sizable growth of 22% in profits in the first 11 months and Fubon Life Insurance Co. kept seeing massive net interest incomes. Besides, Fubon Securities scored profits of NT$1.358 billion (US$45.27 million) in the first 11 months for a whopping annual rise of 42%.
Cathay United Bank, banking affiliate of Cathay Financial, scored after-tax profits of NT$940 million (US$31.33 million) in November alone, which rose to NT$13.98 billion (US$466 million) in the first 11 months.
Shin Kong Financial Holding Co., also with a life insurer, gained after-tax profits of NT$11.282 billion (US$376.07 million) in the same period, with earnings per share (EPS) of NT$1.2 (US$0.04). (JL)
| Profitability of Taiwan's FHCs in November & First 11 Months of 2013 Unit: NT$B. | |||
| FHC
| After-tax profits in November
| After-tax profits in first 11 months
| EPS (NT$)
|
| Fubon
| 2.2
| 32.21
| 3.27
|
| Cathay
| 0.78
| 29.25
| 2.52
|
| Mega Financial
| 1.447
| 21.276
| 1.86
|
| Taishin Financial
| 0.78
| 13.45
| 1.68
|
| CTBC Financial
| 1.872
| 22.045
| 1.54
|
| E. Sun Financial
| 0.707
| 7.984
| 1.45
|
| SinoPac Financial
| 0.734
| 9.884
| 1.21
|
| Shin Kong
| -0.242
| 11.282
| 1.2
|
| First Financial
| 0.492
| 10.412
| 1.2
|
| Taiwan Cooperative Financial
| 0.521
| 8.155
| 0.95
|
| Yuanta Financial
| 0.512
| 6.862
| 0.69
|
| Jih Sun Financial
| 0.194
| 1.741
| 0.57
|
| Waterland Financial
| 0.108
| 1.114
| 0.43
|