Thu, Jan 05, 2012 - Page 12 News List

TBB records highest profit in 11 years

By Kevin Chen  /  Staff Reporter

State-run Taiwan Business Bank (TBB, 臺灣企銀) said yesterday it made a pretax profit of NT$3.22 billion (US$106.4 million) last year, up 35 percent from 2010, its highest profit in 11 years.

With 4.21 billion issued shares, pretax earnings per share was NT$0.77 last year, an increase of 30.5 percent year-on-year, according to an exchange filing.

TBB said it also made significant improvements to its asset quality last year, as its non-performing loan ratio edged down by 0.48 percentage points year-on-year to 0.65 percent, the best-ever performance in the lender’s history, while its coverage ratio rose to 137.59 percent from 79.17 percent over the same period.

Net worth was NT$11.22 per share last year, TBB said.

The lender plans to raise NT$5 billion by issuing 500 million new common shares to help it meet future capital requirements, with tomorrow marking the payment deadline of new share subscriptions for potential investors.

TBB earlier set an issue price of NT$10 for the new shares, a level that was still higher than the closing price of NT$9.46 in Taipei trading yesterday.

Separately, state-controlled Chang Hwa Commercial Bank (彰化銀行) yesterday reported its pretax profit reached NT$10.57 billion, or NT$1.56 per share, last year, the lender said in a separate filing.

Net profit was NT$9.02 billion, or NT$1.33 per share, compared with NT$7.92 billion in net profit, or NT$1.28 per share, in 2010, Chang Hwa’s data showed.

Privately-run E.Sun Commercial Bank (玉山銀行), the main source of earnings for E.Sun Financial Holding Co (玉山金控), yesterday reported that it made NT$3.11 billion in net profit last year, or NT$0.82 per share. That was lower than the NT$3.98 billion net profit from the year before — the highest in five years — or NT$0.87 per share.

This story has been viewed 2193 times.
TOP top