Taiwan Cooperative Bank (合作金庫銀行), the banking unit of Taiwan Cooperative Financial Holding Co (合作金控), yesterday said in a company filing that it made NT$7.54 billion (US$258.7 million) in net profit last year, or NT$1.22 in earnings per share (EPS).
Last year’s net profit was 1.34 percent lower than the NT$7.64 billion the state-run bank made a year earlier, the Taipei-based lender’s previous filings showed.
It also indicates there is a long road ahead for the bank to recover to its pre-global financial crisis level, when profits peaked at NT$9.74 billion in 2007.
Taiwan Cooperative is 36.7 percent owned by the government, and is the nation’s second-largest commercial bank in terms of total assets and deposits after Bank of Taiwan (台灣銀行).
Net value totaled NT$135.7 billion as of the end of last month, the bank’s executive vice president, Hsieh Chung-dea, said in the filing. That compared to NT$116.4 billion recorded at the end of 2011.
Based on its 6.64 billion outstanding shares, net value per share was NT$20.42, up from NT$19.13 a year earlier, company data showed.
The bank was the second of the nation’s 38 lenders to release its balance sheet for last year.
On Thursday, King’s Town Bank (京城銀行) said it made a record NT$3.44 billion in net profit, or EPS of NT$3.28, after it adjusted its deposit structure and enjoyed a better interest margin than its local peers, plus a contribution from its new wealth-management business, according to an exchange filing.
King’s Town’s profit for last year was 32.63 percent higher than the NT$2.59 million, or NT$2.48 per share, the Tainan-based lender made in 2011, according to the company’s financial tallies.
Net value per share also increased to NT$19.2 from NT$18.4 in 2011 due to re-categorization of financial assets.
Shares in Taiwan Cooperative Financial fell 0.91 percent to NT$16.4 yesterday in Taipei trading, rising 0.31 percent so far this year. For the whole of last year, the stock declined 10.16 percent, the Taiwan Stock Exchange’s data indicated.
King’s Town’s stock rose 2.65 percent to NT$23.25 yesterday, up 6.9 percent. Last year, it surged 27.57 percent, far exceeding the TAIEX’s 8.87 percent increase over the same period, stock exchange data showed.