Taipei’s Fubon Bank reports record-high Q1 profits

Credit card issuance also saw a surge.

Fubon Bank’s preliminary net profits for reached NT$6.91b (US$230m) for the first three months of 2023.

On a year-on-year (YoY) basis, profits surged 60% excluding the bargain purchase gain in 2022.

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Driven by the upward trajectory of wealth management and the credit card business, net fee income reached NT$3.43b (US$110m), up 17.4% from the previous year.

Whilst the new credit card issuance segment went up 380% YoY.

(NT$1.00 = US$0.033)