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Fubon Reigns as Taiwan's Most Profitable FHC in First 9 Months

Oct 24, 2014 | By Judy Li

Taiwan'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
Source: the said FHCs


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