CDF posted record-high monthly earnings of NT$2,551mn in August

Sep 10, 2020

China Development Financial (hereinafter “CDF, TWSE: 2883) posted August preliminary net profit of NT$2,551mn, Jan-Aug accumulative net profit of NT$7,851mn, for EPS of NT$0.54. “CDF has reported record-high monthly earnings in August again following July as a result of the robust capital market, valuation gains on direct investment and earnings contribution of China Life,” said CDF spokesperson Richard Chang.

KGI Bank profitability benefited from its core income, including its interest and fee income, as well as the stabilizing financial markets that increase asset investment gains. The Bank posted net profit of NT$405mn in August. Jan-Aug accumulative net profit reached NT$2,566mn.

Taiwan stock market consolidated at high levels in August. Despite a slip in turnover, the market underpinned earnings of the brokerage business. Coupled with income from bond investment, valuation gains and income from invested firms, KGI Securities registered net profit of NT$1,381mn in August. In January-August, the securities arm reported net profit of NT$5,068mn.

On a rebound in international investment valuations, CDIB Capital Group posted net profit of NT$435mn in August. January-August net losses narrowed to NT$885mn.

China Life reported net profit of NT$2,194mn in August and NT$13,792mn in the first eight months of the year.   

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