Mon, Nov 11, 2013 - Page 13 News List

Fubon is most profitable among peers

STREAKS AHEAD:It was the only one among the 15 financial holding companies to post an accumulated net profit of more than NT$30 billion for the 10 months

Staff writer, with CNA

Fubon Financial Holding Co (富邦金控) was ranked the most profitable listed financial holding company in Taiwan in the first 10 months of this year, statistics showed on Saturday.

In the 10-month period, Fubon Financial posted NT$30.01 billion (US$1.02 billion) in net profit, or NT$3.06 in earnings per share, after the company booked gains resulting from incremental real-estate value into its profits last month.

Fubon Financial was the only firm among the 15 financial holding companies listed on the main board and the over-the-counter market to report an accumulated net profit of more than NT$30 billion over the period.

The company’s earnings per share was higher than the NT$2.6 recorded over the same 10 month period of last year, statistics indicated.

CATHAY FINANCIAL

Cathay Financial Holding Co (國泰金控) came in second, reporting NT$28.48 billion in net profit, or NT$2.46 per share in the 10 months, supported by high return in investments by its insurance unit, Cathay Life Insurance Co (國泰人壽).

Cathay Financial’s earnings per share was higher than the NT$1.33 recorded in the same period of last year.

MEGA FINANCIAL

Mega Financial Holding Co (兆豐金控) reported NT$19.83 billion in net profit, or NT$1.73 in earnings per share for the 10 months to grasp the third-most profitable status among its peers.

Mega Financial said it is possible for the company to maintain as strong a bottom line over the course of this year as last year, when its earnings per share stood at NT$1.88, a record high in its corporate history.

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