China Development Financial Holding Corporation (hereinafter referred to as "CDF") reported today its profit for the month of September. Unaudited after-tax profit was NT$1.72 billion, while after-tax profit for the first three quarters this year reached NT$20.32 billion, and EPS totaled at NT$1.21.
The U.S. Fed’s hawkish interest-rate hiking path and the development of Russo-Ukrainian conflict continued to dominate the global financial market sentiment in September. CDF and its subsidiaries maintained a solid performance last month against the increasing volatility in the stock, bond and foreign exchange markets. China Life, benefited from the depreciation of the New Taiwan dollar against the US dollar that helped lower its hedging cost, reported an after-tax profit in September of NT$1.27 billion, and after-tax profit for the first three quarters of NT$18.17 billion. KGI Bank’s business continued to grow steadily, and with the contributions from interest and fee income, KGI Bank’s after-tax profit in September was NT$ 518 million, and after-tax profit for the first three quarters was NT$4.72 billion. KGI Securities’ performance in September was affected by the transaction volume decline and market volatility, KGI Securities’ after-tax profit in September was NT$81 million, and after-tax profit for the first three quarters was NT$2.68 billion. CDIB Capital benefited from the increase in the evaluation of its investment portfolios, and its after-tax profit in September was NT$391 million, and after-tax deficit in the first three quarters of this year has been reduced to NT$592 million.
CDF indicated that economic uncertainties such as interest rate hike expectations, a strong US dollar, and slowdown in terminal demand are expected to continue to impact the global financial market in the fourth quarter. CDF will continue to focus on strengthening its core business and supporting the steady development of its subsidiaries, while enhance its risk control mechanism in order to cope with future fluctuations and mitigate operational risk.