Cathay Taiwan's Most Profitable FHC in First 10 Months
2014/11/18 | By Judy LiCathay Financial Holding Co. posted after-tax profits of NT$2.2 billion (US$73.33 million) in October, down NT$1.7 billion (US$56.67 million) from a month earlier, with first-10-month profits of NT$46.95 billion (US$1.57 billion), a new high and surging 54% year on year, with earnings per share (EPS) of NT$3.71 (US$0.124), the highest among Taiwan's financial holding companies (FHCs).
Insiders attribute Cathay's declining profits in October to the bearish stock market and additional appropriation of NT$1 billion (US$33.33 million) as reserves for potential loss in foreign exchange.
In the same month CTBC Financial Holding Co. scored after-tax profits of NT$791 million (US$26.37 million), far lagging the NT$4.014 billion (US$133.8 million) recorded in the previous month, with first-10-month profits rising to NT$38.08 billion (US$1.27 billion) with EPS of NT$2.5 (US$0.083), the second highest among the FHCs.
| Profitability of Taiwan's FHCs in First 10 Months Unit: NT$B. | |||
| FHC
| After-tax profits in Oct.
| After-tax profits in first 10 months
| EPS (NT$)
|
| Cathay
| 2.2
| 46.95
| 3.71
|
| CTBC
| 0.79
| 38.08
| 2.5
|
| Mega Financial
| 2.26
| 26.06
| 2.09
|
| Taishin Financial
| 0.95
| 13.86
| 1.51
|
| Yuanta Financial
| 1.22
| 15.11
| 1.49
|
| First Financial
| 0.94
| 12.64
| 1.36
|
| SinoPac Financial
| 1.5
| 12.67
| 1.43
|
| E. Sun Financial
| 0.84
| 9.25
| 1.38
|
| Hua Nan Financial
| 1.1
| 10.88
| 1.17
|
| Taiwan Cooperative Financial
| 0.85
| 9.09
| 0.99
|
| Jih Sun Financial
| 0.15
| 2.18
| 0.68
|
| Waterland Financial
| 0.03
| 1.49
| 0.56
|