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Profits of Taiwan's FHCs Hit New High of NT$70B in Q1

Apr 14, 2014 | By Judy Li

Taiwan's 15 financial holding companies (FHCs) raked in profits of over NT$70 billion (US$2.33 billion) in the first quarter of the year, a new high and up nearly 20% year on year.

Fubon Financial Holding Co., Cathay Financial Holding Co. and Mega Financial Holding Co., were the top-3 profit gainers, with combined  annual profit increase of NT$10.7 billion (US$356.67 million) during the quarter. However, Shin Kong Financial Holding Co. and SinoPac Financial Holding Co. experienced a decline in earnings in the same quarter.

In March alone Fubon Financial scored after-tax profits of NT$3.095 billion (US$103.17 million), which rose to NT$13.516 billion (US$450.5 million) in the first quarter, up NT$5.3 billion (US$176.67 million) or 78% from that of last year and the highest among FHCs. Cathay Financial took the second place with NT$12.31 billion (US$410.3 million) in the same quarter with profits of NT4.51 billion (US$150.33 million) in March, higher than Fubon's.

Taiwan Cooperative Financial Holding Co. gained profits of NT$1.018 billion (US$33.93 million) in March with profits growing to NT$2.49 billion (US$83 million) in the first quarter, which came mainly from its banking affiliate--Taiwan Cooperative Bank. Shin Kong Financial saw profits of NT$1.388 billion in the same quarter with earnings per share (EPS) of NT$0.13 (US$0.004), the lowest among the FHCs. (JL)

Profitability of Taiwan's FHCs in Q1, 2014                     Unit: NT$B.
FHC
Profits in March
Profits in Q1
EPS (NT$)
Fubon
3.095
13.516
1.32
Cathay
4.51
12.31
1.02
Mega
2.479
8.045
0.65
Taishin Financial
1.5
4.82
0.61
CTBC Financial
2.4638
7.795
0.53
E. Sun Financial
1.002
2.864
0.5
First Financial
1.454
3.654
0.42
SinoPac Financial
0.515
2.944
0.36
Yuanta Financial
1.719
3.482
0.35
Hua Nan Financial
1.007
2.978
0.33
Taiwan Cooperative
1.018
2.49
0.28
Jih Sun Financial
0.257
0.675
0.22
Waterland Financial
0.243
0.531
0.21
China Development Financial
1.218
2.664
0.18
Shin Kong
1.064
1.388
0.13
Source: the said FHCs


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