Tue, Dec 07, 2010 - Page 12 News List

Yuanta net profit up 32% in November

By Crystal Hsu  /  Staff Reporter, with Bloomberg

Yuanta Financial Holding Co (元大金控), one of the nation’s biggest financial service providers, posted a net profit of NT$1.22 billion (US$39.74 million) last month, with a majority of the earnings coming from its securities brokerage arm, the company said in a statement yesterday.

That represented more than 32 percent growth from NT$922 million in net income a month earlier.

The financial service provider accumulated NT$7.12 billion in net income in the first 11 months of the year, translating into NT$0.88 earnings per share, the company said.

Yuanta Securities Co (元大證券) generated a net profit of NT$948 million last month, accounting for 77.9 percent of the holding company’s income, the company said.

Yuanta Bank (元大銀行) and Yuan-ta Securities Finance Co (元大證金) contributed NT$128 million and NT$115 million respectively last month, the company said.

In other news, Fubon Financial Holding Co (富邦金控) yesterday released a statement saying its subsidiary, Fubon Securities (富邦證券) had signed a memorandum of understanding for strategic cooperation with China’s Caitong Securities Co (財通證券).

The statement did not provide details.

In a separate statement, Fubon Financial denied media reports it had offered a bid of between US$1.5 billion and US$1.8 billion for Nan Shan Life Insurance Co (南山人壽), American International Group Inc’s Taiwan unit.

The reports are “purely market speculation,” it said in the filing to the stock exchange.

This story has been viewed 1433 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top