China Development Financial (CDF, TWSE: 2883) reported preliminary April net profit of NT$2.056bn, bringing January-April earnings to NT$1.567bn, for EPS of NT$0.11.
Subsidiary KGI Bank saw stable earnings across all major business segments. With investment valuations picking up amid financial market recovery, the Bank’s April net profit arrived at NT$469mn, for accumulative January-April earnings of NT$1.034bn. KGI Securities also posted net profit of NT$1.018bn, January-April accumulative net profit reached NT$1.089bn on increased brokerage and investment returns. CDIB Capital Group delivered April net profit of NT$817mn, which helped narrow its January-April net loss to NT$900mn, as global capital markets recovered from previous downswings, providing valuation support for its investments. China Life reported April net profit of NT$931mn, for January-April earnings of NT$5.39bn.
Richard Chang, Spokesperson of CDF Group noted that global investors have turned their focus to when nations will gradually remove lockdown measures to bring back economic growth. However, it remains to be seen whether the pandemic is really under control, so there will still be uncertainties in the global financial markets in the near term. CDF remains committed to strengthening its core business and maintaining healthy operations. In the recent 6th (2019) Corporate Governance Evaluation, carried out by Taiwan Stock Exchange, CDF was ranked in the top 5% tier out of the 1,600 listed firms surveyed.