Securities companies operating in Taiwan enjoyed a more than 13 percent annual increase in net profit last year, reflecting a gaining local equity market, the Taiwan Stock Exchange (TWSE, 台灣證券交易所) said.
The TWSE said 81 securities companies recorded NT$20.38 billion (US$679 million) in net profit, up 13.3 percent from a year earlier, while the weighted index on the main board rose about 912 points, or 11.85 percent, during the same period.
Among the 46 integrated securities firms, 39 posted profits and seven suffered losses last year, while 24 of 34 dedicated brokerages reported profits and 10 incurred losses, the exchange said.
The 46 integrated securities firms posted NT$19.51 billion in net profit, while the nation’s 34 dedicated brokerages registered NT$871.79 million in net profit, the exchange said.
In Taiwan, 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 trade equities.
The only futures commission merchant in Taiwan — Yuanta Futures Co (元大期貨) — reported a net profit of NT$128,000 last year, the TWSE said.
Last year, the 81 securities companies recorded NT$0.624 in earnings per share (EPS) on average, compared with NT$0.552 in 2012, while their average return on equity (ROE) stood at 4.36 percent, down from 3.90 percent.
The average EPS of the 46 integrated securities firms was NT$0.620 last year, up from NT$0.534 in 2012, while their average ROE rose to 4.38 percent from 3.82 percent.
The 34 dedicated securities brokers posted NT$0.743 in EPS in 2013, down from NT$1.051 in 2012, and their average ROE fell to 4.03 percent from 5.49 percent a year earlier.
Last month alone, the 81 securities companies posted NT$2.16 billion in net profit, up 72.39 percent from November last year. Of the 81 firms, 57 were profitable and 24 incurred losses last month.
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