Taiwan's 15 Financial Holding Companies See Combined Profits Surge 10% to NT$148 B. in First 10 Months

Taipei, Nov. 15, 2012 (CENS)--Taiwan's 15 financial holding companies (FHCs) scored profits of NT$148.44 billion (US$4.95 billion) in the first 10 months, up 10% year-on-year, and such figure is very likely to hit record high for the full year.

Among the 15 FHCs, SinoPac Financial Holding Co. witnessed the highest profit growth of over 90% due to its renminbi (RMB) business. Shin Kong Financial Holding Co. and China Development Financial Holding Co. followed with corresponding growth of 70% and 60%, respectively.

However, Yuanta Financial Holding Co. and Waterland Financial Holding Co. suffered sharp drops of 57% and 40%, respectively, due mainly to the bearish stock market here.

In October Fubon Financial Holding Co. gained after-tax profits of NT$1.92 billion (US$64 million), and NT$24.73 billion (US$824.33 million) in the first 10 months, with earnings per share (EPS) of NT$2.6 (US$0.086), the highest among the 15 FHCs.

In the same period Mega Financial Holding Co. ranked second with after-tax profits of NT$19.217 billion (US$640.57 million) and EPS of NT$1.68 (US$0.056).

Profitability of Taiwan's 15 FHCs in October & First 10 Months
FHC	After-tax profits (NT$B)	After-tax profits in First 10 Months (NT$B)	EPS (NT$)
Fubon	1.92	24.73	2.6
Mega	1.445	19.217	1.68
Chinatrust Financial	2.055	17.576	1.37
Cathay Financial	1.38	14.19	1.33
E. Sun Financial	0.562	6.261	1.3
Shin Kong	0.353	10.59	1.26
Taishin Financial	0.85	9.51	1.21
First Financial	0.538	9.575	1.18
SinoPac	0.72	8.17	1.08
Taiwan Cooperative Financial	0.632	7.111	1.04
Hua Nan Financial	0.713	8.101	0.94
Jih Sun Financial	0.085	1.789	0.64
Yuanta	1.064	5.754	0.57
Waterland	0.037	1.313	0.51
China Development	0.215	4.552	0.36

Source: the said FHCs