Fubon Financial Holding Co. scored profits of NT$10.421 billion (US$347.37 million) in the first two months for a sharp annual growth of 45%, with earnings per share (EPS) of NT$1.02 (US$0.034), the highest among Taiwan's financial holding companies (FHCs).
In February Cathay Financial Holding Co. gained profits of NT$3.76 billion (US$125.33 million), higher than Fubon's corresponding NT$3.717 billion (US$123.9 million); yet, in the first two months the company's profits was NT$7.79 billion (US$259.67 million), lower than Fubon's as the second highest among the FHCs.
The said two FHCs have banking and life insurance affiliates that are major profit contributors. Fubon Life Insurance Co. and Taipei Fubon Commercial Bank are the two main affiliates of Fubon Financial, with the former posting profits of NT$1.594 billion (US$53.13 million) in February and the latter NT$1.568 billion (US$52.27 million). It's noteworthy that the bank's profits rose a sizable annual 58% in the first two months of the year.
In the same month Cathay life Insurance Co. scored profits of NT$2.16 billion (US$72 million), or 57.5% of the total profits gained by Cathay Financial in the month.
Also with a life insurance firm, Shin Kong Financial Holding Co. saw profits plunge 80% from a year earlier to NT$324 million (US$10.8 million) in the first two month with EPS of NT$0.02 (US$0.00067), the lowest among the FHCs. (JL)
|Profitability of Taiwan's FHCs in February and First 2 Months of 2014 Unit: NT$B.|
|| After-tax profits in February
|| After-tax profits in first 2 months
|| EPS (NT$)
| Mega Financial
| Taishin Financial
| CTBC Financial
| E. Sun Financial
| SinoPac Financial
| First Financial
| Hua Nan Financial
| Yuanta Financial
| Taiwan Cooperative Financial
| Jih Sun Financial
| Waterland Financial
| China Development Financial
| Shin Kong
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