State-run Mega Financial Holding Co (兆豐金控) yesterday said it expects profit momentum to stay healthy this quarter after net income in the first three quarters surged almost twofold year-on-year, thanks to strong wealth management and trading operations.
Mega Financial president Hsiao Yu-mei (蕭玉美) gave the positive guidance during an online investors’ conference.
“Mega Financial saw its net income soar 98 percent to a record high of NT$27.03 billion [US$865 million] in the first three months, or earnings of NT$1.92 per share, making it the most profitable among state-run peers,” Hsiao said.
Photo courtesy of Mega Financial Holding Co
Hsiao attributed the showings to stable core banking businesses as well as advances in wealth management and trading operations.
Cross-selling and other income enhancing strategies also bore fruit, she said.
Profit momentum would be sustainable this quarter and beyond, with interest rates hovering at similar levels at home and abroad, allowing its banking subsidiary, Mega International Bank (兆豐銀行), to take further advantage of interest rate differences between Taiwan and the US to rake in currency swap income, Hsiao said.
Currency swap profit amounted to NT$11.33 billion in the first nine months, helping lift overall trading gains by 2.8 times. Mega Bank reported a 55 percent increase in net income.
Wealth management expanded 22 percent, lending support to a 7 percent increase in fee income, the company said in a statement, adding that the world gradually emerged from a bear market seen last year.
As a result, Mega Securities Co’s (兆豐證券) net income expanded almost threefold while profit at the venture capital unit exploded 37.14 times, it said.
However, the non-life insurance wing Chung Kuo Insurance Co (兆豐產險) remained a drag, incurring a net loss of NT$1.55 billion linked to ill-fated COVID-19 policies, it said.
The figure represented a sharp easing from NT$5.6 billion losses a year earlier.
With this year’s Semicon Taiwan trade show set to kick off on Wednesday, market attention has turned to the mass production of advanced packaging technologies and capacity expansion in Taiwan and the US. With traditional scaling reaching physical limits, heterogeneous integration and packaging technologies have emerged as key solutions. Surging demand for artificial intelligence (AI), high-performance computing (HPC) and high-bandwidth memory (HBM) chips has put technologies such as chip-on-wafer-on-substrate (CoWoS), integrated fan-out (InFO), system on integrated chips (SoIC), 3D IC and fan-out panel-level packaging (FOPLP) at the center of semiconductor innovation, making them a major focus at this year’s trade show, according
DEBUT: The trade show is to feature 17 national pavilions, a new high for the event, including from Canada, Costa Rica, Lithuania, Sweden and Vietnam for the first time The Semicon Taiwan trade show, which opens on Wednesday, is expected to see a new high in the number of exhibitors and visitors from around the world, said its organizer, SEMI, which has described the annual event as the “Olympics of the semiconductor industry.” SEMI, which represents companies in the electronics manufacturing and design supply chain, and touts the annual exhibition as the most influential semiconductor trade show in the world, said more than 1,200 enterprises from 56 countries are to showcase their innovations across more than 4,100 booths, and that the event could attract 100,000 visitors. This year’s event features 17
SEMICONDUCTOR SERVICES: A company executive said that Taiwanese firms must think about how to participate in global supply chains and lift their competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it expects to launch its first multifunctional service center in Pingtung County in the middle of 2027, in a bid to foster a resilient high-tech facility construction ecosystem. TSMC broached the idea of creating a center two or three years ago when it started building new manufacturing capacity in the US and Japan, the company said. The center, dubbed an “ecosystem park,” would assist local manufacturing facility construction partners to upgrade their capabilities and secure more deals from other global chipmakers such as Intel Corp, Micron Technology Inc and Infineon Technologies AG, TSMC said. It
EXPORT GROWTH: The AI boom has shortened chip cycles to just one year, putting pressure on chipmakers to accelerate development and expand packaging capacity Developing a localized supply chain for advanced packaging equipment is critical for keeping pace with customers’ increasingly shrinking time-to-market cycles for new artificial intelligence (AI) chips, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) said yesterday. Spurred on by the AI revolution, customers are accelerating product upgrades to nearly every year, compared with the two to three-year development cadence in the past, TSMC vice president of advanced packaging technology and service Jun He (何軍) said at a 3D IC Global Summit organized by SEMI in Taipei. These shortened cycles put heavy pressure on chipmakers, as the entire process — from chip design to mass
RSS