Today, China Development Financial Holding Corporation (CDF) held its Q3 2021 investor conference. Self-assessed after tax profit for the first three quarters of 2021 was NT$30.69 billion; this represents a significant growth of 249% compared to the same period last year.
China Life and CDIB Capital were the largest contributors for the first three quarters of 2021 with the highest growth in profitability compared to the same period last year. China Life’s after-tax profit for the first three quarters totaled NT$25.94 billion which equaled an annual growth rate of 75%. After-tax profit of CDIB Capital Group for the first three quarters totaled NT$9 billion, profit which was principally driven by the sale of its previous Headquarter Office. KGI Bank’s net profit after tax for the first nine months of 2021 totaled NT$3.65 billion, a 25% growth compared to the same period last year. Its net revenue also increased by 7% compared to the same period in 2020; demand deposits increased by 27% compared to the same period last year. KGI Securities benefited from strong growth in all its businesses and the net profit after tax for the first three quarters increased to NT$10.17 billion, an 82% growth compared to the same period last year. KGI Securities ranked first in equity underwriting in the market while brokerage market share increased 23% compared to last year to 10.6% a new record high. KGI Securities is committed to improving customers’ online experience and launched the three-in-one online account opening service to further enhance the digital platform customer experience.
Steve Bertamini, President and Chief Executive Officer of CDF said that CDF has reached another important milestone as it continues to increase its competitiveness in the market. CDF received approval at an extraordinary shareholders meeting held on October 1, subject to FSC approval, to acquire the remaining shares of China Life before year end. CDF and its subsidiaries China Life, KGI Bank and CDIB will complete the relocation into its new environmentally friendly new Headquarter Office building before the end of the year as further evidence of its ESG commitment towards Net Zero emissions by 2045.
