China Development Financial Holding Corporation (hereinafter referred to as "CDF") reported today its financial result for the month of November. While the unaudited after-tax loss was NT$2.56 billion, the after-tax profit for the first eleven months of this year reached NT$17.99 billion, and the EPS totaled at NT$1.07.
Due to easing of the Fed’s hawkish interest rate hikes, the global capital market rebounded strongly in November. However, the appreciation of the New Taiwan dollar against the U.S. dollar has affected the exchange-relate gains of U.S. dollar’s denominated positions. This resulted in an after-tax loss in November for China Life of NT$3.24 billion, and the after-tax profit for the first eleven months was NT$15.48 billion. China Life will continue to improve its products and asset allocation structure to maintain its long-term stable operation in the face of market volatility. KGI Securities benefited from the rise of capital market prices and transaction volume of the last month which drove the growth of its brokerage, trading and capital market businesses. KGI Securities’ after-tax profit in November was 508 million, and after-tax profit for the first eleven months was NT$3.20 billion. KGI Bank maintains a stable growth momentum of both deposit business and loan portfolios, and at the same time, interest and fee income continued to contribute to profits, resulting in an after-tax profit of NT$252 million in November, and NT$5.44 billion after-tax profit for the first eleven months. Benefited from the recovery of the capital market, CDIB Capital Group had an increase in the evaluation of investment positions. CDIB Capital Group’s after-tax profit in November was NT$582 million, and the after-tax loss for the first eleven months this year has been reduced to NT$280 million.
CDF stated the global political and economic situation continues to create volatility in the financial markets. CDF will continue to focus on a long-term and stable operating and profit model, while enhancing its risk control mechanism in order to cope with future fluctuations and mitigate operational risk.