Cathay Financial Holding Co (國泰金控), the nation’s largest financial conglomerate by assets, yesterday reported a net profit of NT$8.1 billion (US$287.72 million) for last month, up 73 percent year-on-year but down 25.6 percent from the previous month.
That brought the company's third-quarter profit to NT$30.7 billion, up 22 percent from a year earlier.
Among its subsidiaries, Cathay Life Insurance Co (國泰人壽) saw its net profit increase 22 percent annually to NT$22.6 billion during the July-to-September period, as it continued to invest despite high volatility in the financial markets amid the COVID-19 pandemic, central banks’ changing monetary policies, China Evergrande Group’s (恆大集團) debt crisis and rising inflationary pressure, it said.
Photo courtesy of Cathay Financial Holding Co
The life insurer expects total cash dividends for this year to reach NT$18.5 billion to NT$19.5 billion, it said.
In the first nine months, Cathay Financial saw net profit rise 90 percent year-on-year to NT$122.18 billion, with Cathay Life Insurance posting NT$100.12 billion in net profit during the nine-month period.
Fubon Financial Holding Co (富邦金控) yesterday posted a net profit of NT$7.85 billion for last month, down 51.4 percent monthly but up 91 percent annually. Its third-quarter profit rose 37 percent year-on-year to NT$42.54 billion.
Due to solid investment and effective foreign exchange hedging, Fubon Life Insurance Co (富邦人壽) saw net income rise 34 percent from a year earlier to NT$29.44 billion last quarter, the company said.
In the first nine months, Fubon Financial's net profit increased 91 percent annually to NT$130.20 billion, while Fubon Life Insurance posted NT$95.15 billion in net profit, up 110 percent from a year earlier.
SinoPac Holdings Co (永豐金控) reported that its net profit increased 17 percent annually to NT$4.22 billion in the third quarter, aided by double-digit percentage growth in earnings at Bank SinoPac (永豐銀行) and SinoPac Securities Co (永豐金證券).
Taishin Financial Holding Co’s (台新金控) third-quarter profit rose 4.5 percent annually to NT$4.85 billion, while E.Sun Financial Holding Co’s (玉山金控) third-quarter profit increased 32 percent to NT$5.65 billion, the companies’ data showed.
In the first nine months of the year, the highest earnings per share among local financial holdings companies were posted by Fubon Financial at NT$11.32, followed by Cathay Financial’s NT$8.96, data showed.
Meanwhile, CTBC Financial Holding Co (中信金控) reported EPS of NT$2.33 and Mega Financial Holding Co's (兆豐金控) EPS came in at NT$1.45 for the nine-month period.
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