Fubon Reigns as Taiwan's Most Profitable FHC in First 9 Months
2014/10/24 | By Judy LiTaiwan's 14 financial holding companies (FHCs) posted profits exceeding NT$250 billion (US$8.33 billion) in the first nine months, surging 55% year on year.
In the period the top-two profit gainers were Fubon Financial Holding Co. and Cathay Financial Holding Co., both with banking and life insurance affiliates. The former scored profits of NT$53.51 billion (US$1.784 billion) during the period with earnings per share (EPS) of NT$5.23 (US$0.174), which were the highest of their kinds; and the latter closely followed with profits of NT$44.84 billion (US$1.495 billion) and EPS of NT$3.55 (US$0.118).
Fubon Life Insurance Co. and Taipei Fubon Commercial Bank were the two major profit contributors to Fubon Financial. In September Fubon Life posted revenue of NT$3.784 billion (US$126.13 million), with first- nine-month earnings rising to NT$31.252 billion (US$1.042 billion) for a whopping annual rise of 88%.
Cathay Life Insurance Co., affiliate of Cathay Financial, witnessed premium income of a new monthly high of NT$30.26 billion (US$1.01 billion) in September and after-tax profits in the first three quarters of NT$29.39 billion (US$979.67 million), accounting for more than half of the FHC's total profits.
However, Shin Kong Financial Holding Co., another FHC with an life insurer, gained after-tax profits of only NT$7.622 b billion (US$254.07 million) in the first nine months, far lagging the top two counterparts. (JL)
| Profitability of Taiwan's 14 FHCs in First 9 Months Unit: NT$B. | |||
| FHC
| After-tax profits in Sept.
| After-tax profits in first 9 months
| EPS (NT$)
|
| Fubon
| 7.54
| 53.51
| 5.23
|
| Cathay
| 3.07
| 44.84
| 23.55
|
| CTBC Financial
| 4.014
| 37.289
| 2.44
|
| Mega Financial
| 2.398
| 23.793
| 1.91
|
| Taishin Financial
| 1.28
| 12.9
| 1.42
|
| Yuanta Financial
| 0.611
| 13.897
| 1.37
|
| First Financial
| 1.013
| 11.705
| 1.26
|
| SinoPac Financial
| 1.275
| 11.171
| 1.26
|
| E. Sun Financial
| 0.968
| 8.405
| 1.26
|
| Hua Nan Financial
| 1.024
| 9.776
| 1.05
|
| Taiwan Cooperative Financail
| 0.891
| 8.241
| 0.9
|
| Shin Kong
| 1.192
| 7.622
| 0.7
|
| Jih Sun Financail
| 0.093
| 2.031
| 0.63
|
| Waterland Financial
| 0.073
| 1.452
| 0.55
|