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.|
|| After-tax profits in Sept.
|| After-tax profits in first 9 months
|| EPS (NT$)
| CTBC Financial
| Mega Financial
| Taishin Financial
| Yuanta Financial
| First Financial
| SinoPac Financial
| E. Sun Financial
| Hua Nan Financial
| Taiwan Cooperative Financail
| Shin Kong
| Jih Sun Financail
| Waterland Financial
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