China Development Financial（“CDF”, TWSE: 2883) reported September preliminary net profit of NT$940mn today. CDF Spokesperson Richard Chang notes that due to US stock correction and investors refraining from trading in the lead-up to the Mid-Autumn Festival holiday, capital market trading was range-bound in September with low turnover. However, other than a slight impact on direct investment earnings, overall CDF operations remained solid. CDF posted 1Q-3Q20 (Jan-Sep) net profit of NT$8.791bn, for EPS of NT$0.60.
KGI Bank derived the bulk of September profit from core income including interest and fee income as well as financial investment gains. September net profit came in at NT$346mn, 1Q-3Q20 net profit totaling NT$2.913bn.
KGI Securities operations remain stable, reporting net profit of NT$522mn in September and NT$5.59bn in 1Q-3Q20.
CDIB Capital posted a September net loss of NT$68mn and 1Q-3Q20 net loss of NT$953mn as capital market correction has taken a toll on the valuations of some investment positions.
