CDF reports October after-tax profit of NT$1.27 billion After-tax profit for the first 10 months reached NT$18.83billion, and EPS was NT$1.12
Nov 9, 2023
Financials
China Life has benefited from the continuous appreciation of the US dollar against the New Taiwan dollar, which helped reduce exchange costs. China Life after-tax profit in October was NT$1.10 billion and after-tax profit in the first 10 months of this year was NT$12.41 billion. KGI Bank maintained a steady growth for its various businesses and the momentum of deposit and lending growth continues to increase, both supported the contribution from interest and fee income, KGI Bank’s after-tax profit in October was NT$470 million and after-tax profit for the first 10 months was NT$4.71 billion. The fluctuation of Taiwan's stock market has impacted the profits of KGI Securities' brokerage, trading, and bond businesses in October. Its after-tax profit for October was NT$304 million and the after-tax profit in the first 10 months was NT$5.69 billion, an increase of 111% compared with the same period last year. CDIB Capital Group reported an after-tax loss of NT$ 99 million in October due to the impact of market volatility on its investment valuation. CDIB Capital Group’s after-tax profit in the first 10 months of this year was NT$1.33 billion, and the operation has turned from loss to profit compared to the same period last year.
CDF stated that as we enter the fourth quarter of 2023, the global economy is still facing uncertainties such as the rise in US bond yields, interest rate hikes, and geopolitical conflicts. CDF remains focused on the implementation of core strategies to mitigate risks while pursuing long-term sustainable growth.