Profits of Taiwan's FHCs Hit New High of NT$70B in Q1
2014/04/14 | By Judy LiTaiwan's 15 financial holding companies (FHCs) raked in profits of over NT$70 billion (US$2.33 billion) in the first quarter of the year, a new high and up nearly 20% year on year.
Fubon Financial Holding Co., Cathay Financial Holding Co. and Mega Financial Holding Co., were the top-3 profit gainers, with combined annual profit increase of NT$10.7 billion (US$356.67 million) during the quarter. However, Shin Kong Financial Holding Co. and SinoPac Financial Holding Co. experienced a decline in earnings in the same quarter.
In March alone Fubon Financial scored after-tax profits of NT$3.095 billion (US$103.17 million), which rose to NT$13.516 billion (US$450.5 million) in the first quarter, up NT$5.3 billion (US$176.67 million) or 78% from that of last year and the highest among FHCs. Cathay Financial took the second place with NT$12.31 billion (US$410.3 million) in the same quarter with profits of NT4.51 billion (US$150.33 million) in March, higher than Fubon's.
Taiwan Cooperative Financial Holding Co. gained profits of NT$1.018 billion (US$33.93 million) in March with profits growing to NT$2.49 billion (US$83 million) in the first quarter, which came mainly from its banking affiliate--Taiwan Cooperative Bank. Shin Kong Financial saw profits of NT$1.388 billion in the same quarter with earnings per share (EPS) of NT$0.13 (US$0.004), the lowest among the FHCs. (JL)
| Profitability of Taiwan's FHCs in Q1, 2014 Unit: NT$B. | |||
| FHC
| Profits in March
| Profits in Q1
| EPS (NT$)
|
| Fubon
| 3.095
| 13.516
| 1.32
|
| Cathay
| 4.51
| 12.31
| 1.02
|
| Mega
| 2.479
| 8.045
| 0.65
|
| Taishin Financial
| 1.5
| 4.82
| 0.61
|
| CTBC Financial
| 2.4638
| 7.795
| 0.53
|
| E. Sun Financial
| 1.002
| 2.864
| 0.5
|
| First Financial
| 1.454
| 3.654
| 0.42
|
| SinoPac Financial
| 0.515
| 2.944
| 0.36
|
| Yuanta Financial
| 1.719
| 3.482
| 0.35
|
| Hua Nan Financial
| 1.007
| 2.978
| 0.33
|
| Taiwan Cooperative
| 1.018
| 2.49
| 0.28
|
| Jih Sun Financial
| 0.257
| 0.675
| 0.22
|
| Waterland Financial
| 0.243
| 0.531
| 0.21
|
| China Development Financial
| 1.218
| 2.664
| 0.18
|
| Shin Kong
| 1.064
| 1.388
| 0.13
|