China Development Financial Holding Corporation (CDF) held its Q3 2022 investor conference today. During the conference, CDF shared its profit results as well as its overall operational performance for the first three quarters of 2022. CDF’s net income has exceeded NT$20 billion and reached 20.32 billion for the first three quarters this year. This places CDF as ranked number forth within the FHC industry. EPS totaled NT$1.21.
CDF and its subsidiaries maintained a steady profit growth despite facing the volatilities of the market and external challenges. China Life reported a net income of NT$18.17 billion for the first three quarters of 2022, and the value of new business (VNB) margin rose to 36.8%. China Life’s investment return reached 4.65% as a result of its prudent investment management. KGI Bank’s net income for the first three quarters of 2022 was NT$4.74 billion, a 30% increase when compared to the same period last year. The bank maintained a net interest margin (NIM) of 1.42% as its key businesses including SME lending and personal loan continued to grow. KGI Securities’ net income for the first three quarters of 2022 was NT$2.68 billion, maintaining its leading position in ECM (Equity capital market) & DCM (Debt capital markets). CDIB Capital’s net loss for the first three quarters of 2022 was reduced to NT$592 million as it reported a net income of NT$986 million in the third quarter.
In addition to the financial performance, Steve Bertamini, President and CEO of CDF, said that CDF continued to see solid progress in every aspect of our ABCDE strategy. We continued to focus on “Accelerate Digital” and “Customer Focus” strategy by creating digital platforms that offers customers a more innovative and seamless experience. China Life recently obtained the approval from the FSC to launch the “Remote Insurance Application Procedures for Mobile Insurance Integrated with Biometrics at All Channels” service. KGI Securities, ahead of its industry peers, launched the first “Video Digital Signing” service in Taiwan by integrating video conference and electronic signature technology. KGI Bank introduced a 24/7 smart customer service online platform using the latest voice interaction technology; All these innovations also reflect CDF’s continued commitment to being “customer centric,” meeting the needs of customers by being responsive and agile. We also launched the Employee Trust Shareholding Plan to continue to focus on “Becoming Employer of Choice”; and issued the 1st TCFD report in November as part of our “Execution Excellence” and continue to focus on ‘Drive Growth” with increased use of data analytics to improve margins as well as customer acquisition and retention.