China Development Financial Holding Corporation (hereinafter referred to as "CDF") reported today its profit for the month of May. Unaudited after-tax profit was NT$771 million, while after-tax profit for the first five months this year reached NT$4.98 billion. EPS was NT$0.30.
Taiwan financial markets remained stable in May which boosted the business performances of CDF and its subsidiaries. KGI Securities benefited from a strong performance in the Taiwan stock market last month which resulted in an after-tax profit in May of NT$594 million and an after-tax profit for the first five months of NT$2.86 billion, increasing more than 50% YoY compared to the same period last year. KGI Bank continued to develop its diverse businesses contributing to its interest and fee income. KGI Bank’s after-tax profit in May was NT$452 million and after-tax profit for the first five months was NT$2.48 billion, up more than 10% YoY. China Life maintained stable performance for its insurance business, yet it was affected by higher hedging cost, resulting in an after-tax profit NT$161 million and after tax profit for the first five months was NT$640 million. CDIB Capital Group benefited from an increase in the evaluation of investment positions, its after-tax profit in May was NT$31 million and after-tax profit for the first five months was NT$1.06 billion.
CDF stated that while the economy is still expected to face uncertainties including inflation, CDF will continue to enhance control mechanism to mitigate operational risks while and focus on supporting stable development of all subsidiaries to maintain long-term and strategic business development.