President Securities Corp (統一證券) led all listed companies in the financial services sector in average employee salary last year at NT$2.099 million (US$70,079), a 26.8 percent year-on-year increase, data released by the Taiwan Stock Exchange showed on Monday.
Shares in Taiwan surged 28.4 percent last year on record-high average daily turnover of NT$412.4 billion, leading to combined brokerage business profits of NT$96.109 billion, up 61.99 percent from 2023.
The sharp jump in profits led to a boost in salaries for employees across securities companies and the securities-driven financial holding company sector.
Photo: Chien Jung-fong, Taipei Times
Yuanta Financial Holding Co (元大金控), with Yuanta Securities Co (元大證券) as its primary securities firm, came in second at NT$2.022 million, up 20.1 percent year-on-year, while Central Reinsurance Corp (中央再保) came in third at NT$1.896 million, up 11.3 percent from the previous year, the data showed.
Yuanta Financial’s earnings per share of NT$2.77 last year ranked fourth among Taiwan’s 14 listed financial holding companies, behind Fubon Financial Holding Co (富邦金控) at NT$10.77, Cathay Financial Holding Co (國泰金控) at NT$7.29 and CTBC Financial Holding Co (中信金控) at NT$3.64.
In terms of average employee salary for the 14 listed financial holding companies, Yuanta Financial ranked first at NT$2.022 million, followed by CTBC Financial at NT$1.876 million, up 4.4 percent year-on-year.
Fubon Financial was the most profitable financial holding company last year, but its average employee salary was only NT$1.347 million, just ahead of Cathay Financial at NT$1.313 million.
Among listed financial holding companies with state-owned banks, Mega Financial Holding Co (兆豐金控) led with an average salary of NT$1.759 million, ranking third among all financial holding companies, and seventh across all listed financial and insurance firms.
King’s Town Bank (京城銀行) had the lowest average salary in the sector at NT$990,000, down 11.4 percent year-on-year, making it the only bank in the group with an average salary under NT$1 million.
Union Bank of Taiwan (聯邦銀行) followed at NT$1.035 million, and Taiwan Fire & Marine Insurance Co (台灣產物保險) came in third from the bottom at NT$1.076 million, the data showed.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
RECORD LOW: Global firms’ increased inventories, tariff disputes not yet impacting Taiwan and new graduates not yet entering the market contributed to the decrease Taiwan’s unemployment rate last month dropped to 3.3 percent, the lowest for the month in 25 years, as strong exports and resilient domestic demand boosted hiring across various sectors, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. After seasonal adjustments, the jobless rate eased to 3.34 percent, the best performance in 24 years, suggesting a stable labor market, although a mild increase is expected with the graduation season from this month through August, the statistics agency said. “Potential shocks from tariff disputes between the US and China have yet to affect Taiwan’s job market,” Census Department Deputy Director Tan Wen-ling