Fubon Financial tops peers in earnings

Fubon Financial credits its wealth management products for its net income of NT$4.04 billion last month.

The figure represents an 84 percent from the same period last year.

The results equated to earnings per share (EPS) of NT$0.42, pushing the company at the top among its 15 peers.

Taipei Fubon Commercial Bank generated NT$1.78 billion in net profit last month, rising 53 percent the same period last year. rom the level seen a year ago, thanks to high sales of investment products, according to Fubon Financial president Victor Kong.

Fubon Life Insurance Co saw its net income soar 6.36 times to NT$1.84 billion, mainly caused by investment gains in domestic and foreign equities, Kong added.

Profits at state-run Mega Financial Holding Co rose to NT$1.6 billion, more than double the earnings from one month earlier.

Taishin Financial reported NT$1.39 billion in net income, up 48 percent from a year earlier.

SinoPac Financial Holdings Co also fared well with net income totaling NT$1.16 billion last month, an increase of more than 20 percent from a year earlier and nearly double from December last year.

Meanwhile, Hua Nan Financial posted NT$869 million in net profit for last month, or EPS of NT$0.1, underpinned almost single-handedly by its banking subsidiary Hua Nan Commercial Bank.

The lender generated NT$797 million in net income, while the brokerage and non-life insurance unit contributed NT$37 million and NT$79 million respectively, the group said in a statement.

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