Fubon Financial Holding Co (富邦金控) yesterday reported a net income of NT$30 billion (US$911.3 million) for the first two months, up 34 percent year-on-year, with earnings per share of NT$2.2.
The company attributed the performance to interest income, capital gains and dividends from its investment holdings, saying it would adopt a quick and dynamic hedging approach amid currency volatility.
It also realized capital gains from its share holdings at home and abroad last month, as the TAIEX experienced sharp fluctuations and US bond prices climbed and yields declined, it said.
Photo: An Rong Xu, Bloomberg
Fubon Life Insurance Co (富邦人壽), a company subsidiary, raised its position in US government bonds to enhance recurring income and mitigate market fluctuations, it added.
Fubon Life accumulated net income of NT$18.18 billion in the first two months, expanding 36 percent from a year earlier, after first-year premiums to NT$25.1 billion, Fubon Financial said, adding that total premiums rose 13 percent to NT$69.7 billion.
At the same time, Taipei Fubon Commercial Bank (台北富邦銀行) posted a new high for net profit at NT$7.05 billion, or a pickup of 22 percent year-on-year, driven by strong core business operations.
Its net interest income and fee income saw a growth of 10 percent and 20 percent respectively, Fubon Financial said.
The company added that it would adopt a quick and dynamic hedging approach amid currency volatility.
The New Taiwan dollar weakened against its US counterpart last month, but the trajectory has been different so far this month, it said.
SEEKING CLARITY: Washington should not adopt measures that create uncertainties for ‘existing semiconductor investments,’ TSMC said referring to its US$165 billion in the US Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) told the US that any future tariffs on Taiwanese semiconductors could reduce demand for chips and derail its pledge to increase its investment in Arizona. “New import restrictions could jeopardize current US leadership in the competitive technology industry and create uncertainties for many committed semiconductor capital projects in the US, including TSMC Arizona’s significant investment plan in Phoenix,” the chipmaker wrote in a letter to the US Department of Commerce. TSMC issued the warning in response to a solicitation for comments by the department on a possible tariff on semiconductor imports by US President Donald Trump’s
‘FAILED EXPORT CONTROLS’: Jensen Huang said that Washington should maximize the speed of AI diffusion, because not doing so would give competitors an advantage Nvidia Corp cofounder and chief executive officer Jensen Huang (黃仁勳) yesterday criticized the US government’s restrictions on exports of artificial intelligence (AI) chips to China, saying that the policy was a failure and would only spur China to accelerate AI development. The export controls gave China the spirit, motivation and government support to accelerate AI development, Huang told reporters at the Computex trade show in Taipei. The competition in China is already intense, given its strong software capabilities, extensive technology ecosystems and work efficiency, he said. “All in all, the export controls were a failure. The facts would suggest it,” he said. “The US
The government has launched a three-pronged strategy to attract local and international talent, aiming to position Taiwan as a new global hub following Nvidia Corp’s announcement that it has chosen Taipei as the site of its Taiwan headquarters. Nvidia cofounder and CEO Jensen Huang (黃仁勳) on Monday last week announced during his keynote speech at the Computex trade show in Taipei that the Nvidia Constellation, the company’s planned Taiwan headquarters, would be located in the Beitou-Shilin Technology Park (北投士林科技園區) in Taipei. Huang’s decision to establish a base in Taiwan is “primarily due to Taiwan’s talent pool and its strength in the semiconductor
French President Emmanuel Macron has expressed gratitude to Hon Hai Precision Industry Co (鴻海精密) for its plan to invest approximately 250 million euros (US$278 million) in a joint venture in France focused on the semiconductor and space industries. On his official X account on Tuesday, Macron thanked Hon Hai, also known globally as Foxconn Technology Group (富士康科技集團), for its investment projects announced at Choose France, a flagship economic summit held on Monday to attract foreign investment. In the post, Macron included a GIF displaying the national flag of the Republic of China (Taiwan), as he did for other foreign investors, including China-based
RSS