China Development Financial (hereinafter CDF, TWSE: 2883) announced today that its November preliminary net profit was NT$641mn. CDF spokesperson Richard Chang notes that despite paring gains amid fears of Sino-US trade talks uncertainties, continued net-buying by QFII pushed up the TAIEX in November. That said, the profit momentum of the securities brokerage and financial trading operations were boosted by a stable financial market. Accumulative January-November net profit arrived up 48% YoY to NT$11.765bn, for EPS of NT$0.81.
Subsidiary KGI Bank maintained stable profit at its major businesses, with net interest spread, fee income and financial trading all making a positive contribution. With November net profit of NT$312mn, the bank’s January-November net profit arrived at NT$3.339bn.