Fubon Taiwan's most profitable FHC in first 5 months.
In the same period, Mega Financial Holding and Waterland Financial Holding together tied for the second place, each with EPS of NT$0.64 (US$0.019); while First Financial Holding, Hua Nan Financial Holding, Chinatrust Financial Holding and Yuta Financial Holding witnessed their EPS a range between NT$0.42-0.45 (US$0.013-0.014).
Cathay Financial Holding used to be Taiwan's most profitable FHC, but the company in May suffered a loss of NT$360 million (US$10.91 million) due mainly to the massive loss of NT$1.9 billion (US$57.58 million) recorded by its main affiliateuCathay Life Insurance Co. in the same month. Nevertheless, Cathay Financial still generated after-tax profits of NT$5.26 billion (US$159.39 million) in the first five months with EPS of NT$0.54 (US$0.016).
Shin Kong Financial Holding, also backed by strong insurers, experienced a deficit of NT$1.46 billion (US$44.24 million) in May. The deficit was mainly because of the sizable loss of NT$2 billion (US$60.6 million) in foreign exchange hedge operated in the same month by its affiliate--Shin Kong Life Insurance Co., despite the insurance firm gaining profits of NT$500-600 million (US$15.15-18.18 million) from investments in the stock market during the month. Accordingly, Shin Kong Financial saw its profits decline to NT$2.133 billion (US$64.64 million) in the first five months.
Profitability of Taiwan's FHC in Many and First 5 months of 2009 Unit NT$M FHC After-tax After-tax EPS profits profits in (NTS) in May first 5 months Fubon 2,880 6,770 0.84 Mega 1,851 7,107 0.64 Waterland 286 1,337 0.64 Cathay -360 5,260 0.54 First 577 2,864 0.46 Hua Nan 502 2,744 0.45 Chinatrust 20 4,261 0.43 Yuta 1,044 3,383 0.42 Shin Kong -1,460 2,133 0.34 E. Sun Financial Holding 44 802 0.23 China Development Financial Holding 482 1,487 0.14 SinaPac Financial Holding 105 795 0.11 Taishin Financial Holding 80 940 0.06 Source: the said FHCs
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|Title Annotation:||financial holding companies|
|Publication:||The Taiwan Economic News|
|Date:||Jun 18, 2009|
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