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Taiwan's Fubon Leads FHCs in First-11-Month Profits

2014/12/19 | By Judy Li

In November eight of Taiwan's 14 financial holding companies (FHCs) witnessed falling profits from a month earlier due mainly to increasing provisional reserves for writing off bad loans for the year.

In the same month Fubon Financial Holding Co. posted  after-tax profits of NT$2.63 billion (US$87.67 million), the highest among the FHCs, with first-11- month profits up to NT$59.22 billion (US$1.974 billion) and  earnings per share (EPS) of NT$5.79 (US$0.193), both their highest.

In the same period Cathay Financial Holding Co. scored profits of NT$48.73 billion (US$1.624 million), the second highest, with full-year profits  expected to exceed NT$50 billion (US$1.67 billion).

The above two FHCs posted profits far ahead of their peers, with Mega Financial Holding Co. trailing in third with profits of only NT$28.104 billion (US$936.8 million).

Financial experts predict 11 FHCs are expected to gain profits exceeding NT$10 billion (US$333.33 million) each this year, higher than last year's nine.

Profitability of Taiwan's 14 FHCs (Nov. and First 11 Months)
FHC

After-tax profits in Nov. (NT$B)

After-tax profits in first 11 months (NT$B)

EPS (NT$)

Fubon

2.63

59.22

5.79

Cathay

1.79

48.73

3.85

Mega

2.049

28.104

2.26

Taishin Financial

1.11

14.99

1.63

Yuanta Financial

0.903

16.015

1.58

SinoPac

0.744

13.414

1.5

E. Sun Financial

0.843

10.088

1.5

First Financial

0.776

13.419

1.45

Hua Nan Financial

1.179

12.053

1.29

Taiwan Cooperative Financial

0.587

9.947

1.08

Shin Kong Financial

0.59

8.478

0.78

Jih Sun Financial

0.129

2.312

0.72

China Development Financial

0.859

9.969

0.67

Waterland Financial

0.16

1.648

0.62

Source: the said FHCs