China Development Financial (CDF, TWSE: 2883) announced preliminary net profit of NT$1,186mn in October and NT$9,977mn in January-August, for EPS of NT$0.68.
Mr. Richard Chang, Spokesperson of CDF, commented that investor sentiment had turned cautious in October with US elections uncertainties and the surging pandemic figures toward a second wave across Western countries, making capital markets ripe for consolidation at high levels as trading volume shrank. Among subsidiaries, KGI Securities and KGI Bank continued to deliver solid contributions.
KGI Bank posted net profit of NT$432mn in October, thanks to interest and fee income from the core business as well as financial asset investment gains. In the first ten months of the year, the bank reported net profit of NT$3,345mn.
KGI Securities recorded net profit of NT$916mn in October on an overall robust performance across business units. January-October net profit arrived at NT$6,506mn.
CDIB Capital Group posted net loss of NT$150mn in October, as portfolio performance was a mixed bag amid market volatility. In January-October, net losses amounted to NT$1,104mn.
China Life made net profit of NT$805mn in October and NT$15,645mn in the first ten months of the year.
CDF reported September earnings of NT$940mn; 1Q-3Q20 profit of NT$8.79bn, EPS of NT$0.6