China Development Financial Holding Corporation (CDF) has announced today its profits for the month of September. After-tax profit in September was NT$7.329 billion, accumulated after-tax profit for the previous three quarters was NT$30.693 billion, and EPS was NT$2.05. CDIB Capital Group recognized the total profit from the sale of its headquarter building.
KGI Bank’s September profit came mainly from interest and processing fee income; its after-tax profit was NT$0.305 billion; and accumulated after-tax profit from January to September was NT$3.643 billion. As for KGI Securities, a reduction in trading volumes were the result of the impact coming from global uncertainty. However, the main businesses of KGI Securities, including brokerage, derivatives, and bonds, maintained stable performance, with a profit of NT$0.694 billion after tax in September. Accumulated after-tax profit from the previous three quarters was NT$10.166 billion. After-tax profit of CDIB Capital Group in September was NT$5.938 billion, which came mainly from the profit generated from the sale of its headquarter building; accumulated after-tax profit for the previous three quarters was NT$8.996 billion. China Life reported a September after-tax profit of NT$1.901 billion and accumulated after-tax profit from January to September at NT$25.937 billion.
CDF spokesperson Richard Chang said that CDF received approval for a share swap transaction during the 10/1 extraordinary shareholders meeting which results in making China Life as a wholly-owned subsidiary of CDF. The share swap is expected to be completed by 12/27 of this year. After this transaction is completed, China Development Financial will further accelerate the development of banking, securities, private equity, asset management, and insurance. It will also enhance the group's competitiveness, create synergies, and demonstrate its entrepreneurial spirit to realize its vision of becoming a leading financial company in Asia.