Taiwan's Fubon Leads FHCs in First-11-Month Profits
2014/12/19 | By Judy LiIn 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
|