Securities companies saw their net profit increase by more than 50 percent year-on-year last year, largely because of higher market turnover and gains made by the benchmark index, according to the Taiwan Stock Exchange.
The nation’s 78 securities companies totaled NT$31.3 billion (US$989 million) in net profit last year, up 53 percent from a year earlier after turnover rose 17.6 percent year-on-year to NT$23 trillion and the weighted index rose about 8 percent.
The increase in turnover boosted brokerages’ fee income by about 18 percent, or NT$7.4 billion, from a year earlier, while higher share prices helped proprietary brokerages enjoy a 7.7 percent increase, or an additional NT$980 million, in net profit for the year.
The data showed that the nation’s 45 integrated securities companies posted a combined net profit of NT$30.22 billion last year, compared with NT$19.51 billion in 2013. Thirty-eight of the 45 firms were profitable.
The stock exchange’s statistics indicated that the nation’s 32 dedicated securities brokers recorded NT$1.06 billion in net profit last year, up from about NT$872 million recorded a year earlier, with 23 firms profitable and nine reporting losses.
The nation’s only futures commission merchant — Yuanta Futures (元大期貨) — posted a net loss of NT$867,000 last year, compared with a net profit of NT$128,000 recorded a year earlier.
Integrated securities firms are allowed to engage in a wide range of activities that include brokering trades, proprietary trading and underwriting, while dedicated securities brokers can only broker and trade equities.
Last year, the 78 securities companies had a return on equity of 6.53 percent, up from 4.27 percent registered a year earlier, while their earnings per share stood at NT$0.988, compared with NT$0.624 the previous year.
Last month alone, the 78 securities firms posted a combined net profit of NT$3.32 billion, up 113.30 percent from a month earlier, after share prices on the main board rose 1.31 percent and average daily turnover grew 6.3 percent month-on-month, the stock exchange said.
In the month, 61 of the 78 firms were profitable, including the only futures commission merchant, the stock exchange said.
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