CDF reports November after-tax profit of NT$1.404 billion. After-tax profit for the first 11 months was NT$33.293 billion and EPS was NT$2.23

Dec 10, 2021

China Development Financial Holding Corporation (CDF) reported today its profit for the month of November. Self-assessed after-tax profit was NT$1.404 billion, while after tax profit for the first 11 months was NT$33.293 billion. EPS was NT$2.23.

CDF said that its subsidiaries maintained a stable performance as capital markets rebounded in November. KGI Bank's profits in November was mainly generated from interest and fee income, partially offset by losses from investment exposure adjustments used to limit the impact from interest rate fluctuations; its total after-tax profit was NT$0.035 billion. After-tax profit for the first eleven months was NT$3.780 billion. Taiwan stocks in November drove the index to rise mainly from replenishing holdings from foreign investors. KGI Securities had a profit of NT$0.994 billion after tax in November. Its eleven month after-tax profit was NT$11.748 billion. CDIB Capital Group's after-tax profit for the month of November was NT$0.364 billion mainly from increases in the valuation of its investment positions and sale of real estate. Its first eleven month after-tax profit was NT$9.545 billion. China Life reported a November after-tax profit at NT$1.210 billion and accumulated after-tax profit from January to November at NT$28.416 billion.

CDF spokesperson Richard Chang said that China Life will be delisted on December 30 and become a wholly-owned subsidiary of CDF. CDF will further accelerate the development of its banking, securities, private equity, asset management, and insurance businesses as well as enhance the group's competitiveness, create synergies, demonstrate its entrepreneurial spirit and its creative capabilities to realize its vision of becoming a leading financial company in Asia.