Fubon Financial Holding Co (富邦金控) remained the most profitable financial holding firm in the nation last month, while Cathay Financial Holding Co (國泰金控) was the only institution to incur losses, company statistics released last week showed.
According to the statistics, Fubon Financial posted NT$2.2 billion (US$74.32 million) in net profits, with earnings per share of NT$0.24, on the back of booming consumer banking and wealth management divisions at Taipei Fubon Bank (台北富邦銀行), the company’s banking arm.
Taipei Fubon Bank recorded NT$1.48 billion in net profits last month, the company’s statistics showed.
IN THE RED
Meanwhile, Cathay Financial Holding Co posted NT$1.08 billion in net losses, or NT$0.11 per share, as it assigned large reverses for its life insurance division — Cathay Life Insurance Co (國泰人壽) — sending the financial holding firm to the bottom of the earnings rankings.
However, United Cathay Commercial Bank (國泰世華銀行), a banking division of Cathay Financial, registered NT$1.15 billion in net profits.
Mega Financial Holding Co (兆豐金控) came in second after Fubon Financial, posting NT$1.87 billion in net profits, or NT$0.17 per share, due to gains from its overseas investments and the disposal of its holdings in Taiwan Mobile Co (台灣大哥大) and Chunghwa Telecom Co (中華電信).
Shin Kong Financial Holding Co (新光金控) was the third most-profitable earner last month, registering NT$1.35 billion in net profits, or NT$0.16 per share, on growth in securities and bond investment returns as the financial markets rebounded.
Benefiting from its lottery business during the Lunar New Year holiday as well as growth in its syndicated loans and wealth management divisions, Chinatrust Financial Holding Co (中信金控) was the fourth-biggest earner, posting NT$1.61 billion in net profits, or NT$0.15 per share, during the month, the data show.
Taishin Financial Holding Co (台新金控) ranked fifth, recording NT$0.13 in net profit per share, tied with SinoPac Financial Holdings Co (永豐金控).
Taiwan Cooperative Financial Holding Co (合作金控) and E. Sun Financial Holding Co (玉山金控) were tied for sixth position, each posting NT$0.12 in net profit per share, ahead of Hua Nan Financial Holdings Co (華南金控) with NT$0.11, First Financial Holding Co (第一金控) with NT$0.1, Jih Sun Financial Holding Co (日盛金控) with NT$0.07, China Development Financial Holding Co (中華開發金控) and Yuanta Financial Holding Co (元大金控) with NT$0.06 each, while Waterland Financial Holding Co (國票金控) rounded out the list with NT$0.05.