Taiwan's 15 financial holding companies (FHCs) are projected to post after-tax profits of nearly NT$230 billion (US$7.67 billion) in the first eight months, for a sizable annual growth of 50%.
As of the end of August, all 15 FHCs publicized profits gained in the first eight months except Taiwan Cooperative Financial Holding Co. that expects profits of about NT$7 billion (US$233.33 million).
Among the 14 FHCs, Fubon Financial led with after-tax profits of NT$45.97 billion (US$1.53 billion) in the first eight months for a whopping annual rise of 79%, with earning per share (EPS) of NT$4.49 (US$0.15), the highest ever recorded.
In the same period Cathay Financial Holding Co. took second place with profits of NT$41.78 billion (US$1.39 billion), also the highest of its kind and EPS of NT$3.3 (US$0.11). A senior executive of Cathay Financial says that half of the company's profits came from its affiliate—Cathay Life Insurance Co., which scored after-tax profits of NT$27.76 billion (US$925.33 million) during the period, the highest of its kind. (JL)
|Profitability of Taiwan's 14 FHCs in First 8 Months|
|| After-tax profits in Aug. (NT$B)
|| After-tax profits in first 8 months (NT$B)
|| EPS (NT$)
| CTBC Financial
| Mega Financial
| Yuanta Financial
| Taishin Financial
| SinoPac Financial
| First Financial
| E. Sun Financial
| Hua Nan Financial
| Jih Sun Financial
| Shin Kong Financial
| Waterland Financial
| China Development Financial
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