Cathay Financial Holding Co (國泰金控), the nation’s largest financial services provider by assets, yesterday reported NT$1.38 billion (US$47.34 million) in net income for last month, down 18.34 percent from one month earlier. The downturn came as core businesses weakened amid market volatility, the company said in a statement.
Flagship subsidiary Cathay Life Insurance Co (國泰人壽) posted NT$120 million in net profits last month, down from NT$650 million in September, while profits at Cathay United Bank (國泰世華銀行) dropped to NT$870 million, from NT$1.16 billion, the statement said.
Lin Chao-ting (林昭廷), an executive vice president at Cathay Life, attributed the slowdown to a lack of tax and dividend benefits.
“The insurer recognized NT$500 million cash dividends and another NT$450 million in tax credits,” Lin said by telephone.
Cumulative profits were NT$14.19 billion for the first 10 months, or earnings per share (EPS) of NT$1.32, the statement said.
Fubon Financial Holding Co (富邦金控) also reported an earnings slowdown with net income of NT$1.92 billion last month, compared with NT$2.84 billion in September.
Fubon Life Insurance Co (富邦人壽) saw NT$780 million in net income last month, down from NT$2.27 billion in September, while profits at Taipei Fubon Commercial Bank (台北富邦銀行) rose from NT$790 million to NT$1 billion, the company said on Thursday.
Brokerage unit Fubon Securities Co (富邦證券) incurred NT$80 million in net losses, the filing said, after the TAIEX shed 500 points last month amid sluggish trading.
The unit had NT$24.7 billion in net income for the first 10 months with EPS of NT$2.6, making it the most profitable among its peers.
Chinatrust Financial Holding Co (中信金控), the nation’s third-largest holding company, bucked the trend, reporting NT$2.06 billion in net profits last month, a 50 percent increase from NT$1.37 billion in September, the company said in a statement on Thursday.
The group attributed the upturn to successful portfolio adjustments at its subsidiary, Chinatrust Life Insurance Co (中信人壽).
On Thursday the firm acquired a site on the intersection of Baoqing Road (寶慶路) and Zhonghua Road (中華路) in Taipei for NT$3.68 billion. The plot measures 344.55 ping (1,137m2) and will be used for its company headquarters to meet demand for office space as the insurer expands, Chinatrust Life spokesman Vanney Cho (卓長興) said.
Meanwhile, Taishin Financial Holding Co (台新金控) yesterday posted NT$850 million in net income for last month, down 7.6 percent from a month earlier as its securities arm lost NT$10 million.
The group’s cumulative profits were NT$9.51 billion as of late last month, or EPS of NT$1.21, the company said in a statement.
State-run Hua Nan Financial Holdings Co (華南金控) also saw its earnings fall by NT$11 million last month to NT$713 million after its securities brokerage unit lost NT$48 million, a company statement said.
First Financial Holdings Co (第一金控) reported a net income of NT$538.29 million last month, a fall of 15.22 percent, as its securities business slipped into the red, while insurance and venture capital also turned negative, the conglomerate said in a statement on Thursday.
According to the statement accumulated net income totaled NT$9.58 billion for the first 10 months, or EPS of NT$1.18.
State-run Mega Financial Holding Co (兆豐金控) posted net profits of NT$1.45 billion last month, down 8.81 percent from a month earlier.Profits were NT$19.22 billion for the first 10 months, or EPS of NT$1.68.
Cairo’s new monorail slices across the city skyline, running above the familiar chaos of blaring horns and aging buses’ exhaust fumes that mark rush hour below. The US$4.5 billion monorail, opened this month, is among Egypt’s most prominent new transport projects, part of a debt-funded infrastructure drive criticized for sapping state finances while bringing limited benefits to most of the country’s 109 million people. “It feels like you’re in a different country,” said Ramy Sayed, a restaurant manager, aboard a driverless Innovia 300 train. “No noise, no traffic, we’re not used to this.” The eastern line runs 56km from the bustling middle-class
Starlux Airlines Co (星宇航空) today unveiled a long-haul network expansion plan at a shareholders’ meeting in Taipei, including direct flights to Barcelona, Spain, and Zurich, Switzerland, as well as a service connecting Taipei, Sydney and New Zealand. Starlux is to become the first Taiwanese carrier to offer non-stop services to the two European cities, while the inaugural oceanic route is expected to expand transit opportunities within the Australia-New Zealand market, Starlux said. Flight services to Chicago, Dallas, Washington and New York are under evaluation, the airline added. Prior to the shareholders’ meeting, the airline earlier this year announced that it would be
Taiwanese prosecutors suspect that three people successfully smuggled at least one shipment of Nvidia Corp artificial intelligence (AI) chips to China after first exporting them to Japan, people familiar with the matter said. The trio was detained last week by the Keelung District Prosecutors’ Office for allegedly falsifying documents related to exports of Super Micro Computer Inc servers containing advanced Nvidia chips, which the US has barred from sale to China without a license from Washington. The move marked Taiwan’s first public crackdown on AI chip diversion after years of pressure from the US to take a more active role in curtailing
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) employee bonuses are likely to grow more than 30 percent this year, in line with the past few years as the company’s profits continue to set new records, an anonymous source cited TSMC chairman C.C. Wei (魏哲家) as saying yesterday. TSMC, the world’s largest contract chipmaker, is committed to taking care of its workers, the source said, citing Wei’s meeting with employees yesterday morning. Wei also expressed gratitude to employees for their contribution to the company’s improving bottom line, the source added. Since 2023, TSMC’s employee bonuses have grown at an annual rate of
RSS