Thu, Oct 12, 2017 - Page 12 News List

First Financial Holdings Co posts NT$1.61bn in 3Q

By Crystal Hsu  /  Staff reporter

State-run First Financial Holdings Co (第一金控) posted a net income of NT$1.61 billion (US$53.25 million) for last month, when all subsidiaries made earnings contributions except for its insurance business, a company statement said.

The monthly earnings figures represented a 13.8 percent decline from the previous month when one-off incomes raised the comparison base, the statement said.

First Commercial Bank (第一銀行), its main source of revenue, generated a net income of NT$1.57 billion, a 14.6 percent drop from August, as its core businesses held steady at NT$320 million in dividend revenue, it said.

However, Treasury gains slowed to NT$511.28 million, while net interest income eased to NT$2.36 billion, it said, attributing the retreat to fewer calendar days.

Fee revenue upheld its growth momentum to NT$703.9 million, a 10.2 percent increase from a month earlier, it said.

Its brokerage arm, First Securities (第一金證券), generated a net income of NT$18.83 million, as brokerage revenue weakened while investment gains picked up, it said.

First Securities Investment Trust Co (第一金投信) booked extra marketing costs for new fund launches, which sunk its net income to NT$2.89 million, it said.

First-Aviva Life Insurance Co (第一英傑華人壽) reported extra losses of NT$9.55 million due to poor business, with cumulated losses for this year increasing to NT$82.48 million, it said.

For the first nine months, the group accumulated NT$14.87 billion in net income, an increase of 10.6 percent over the same period last year.

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