China Development Financial Holding Corporation (CDF) reported today its profit for the month of November. Self-assessed after-tax profit was NT$1.40 billion, while after tax profit for the first 11 months was NT$33.29 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$0.03 billion. After-tax profit for the first eleven months was NT$3.78 billion. Taiwan stocks in November drove the index to rise mainly from replenishing holdings from foreign investors. KGI Securities had a profit of NT$0.99 billion after tax in November. Its eleven month after-tax profit was NT$11.74 billion. CDIB Capital Group's after-tax profit for the month of November was NT$0.36 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$9.54 billion. China Life reported a November after-tax profit at NT$1.21 billion and accumulated after-tax profit from January to November at NT$28.41 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.
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$0.03 billion. After-tax profit for the first eleven months was NT$3.78 billion. Taiwan stocks in November drove the index to rise mainly from replenishing holdings from foreign investors. KGI Securities had a profit of NT$0.99 billion after tax in November. Its eleven month after-tax profit was NT$11.74 billion. CDIB Capital Group's after-tax profit for the month of November was NT$0.36 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$9.54 billion. China Life reported a November after-tax profit at NT$1.21 billion and accumulated after-tax profit from January to November at NT$28.41 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.
