China Development Financial Holding Corporation (hereinafter referred to as "CDF") reported today its profit for the month of February. Unaudited after-tax profit was NT$2.71 billion, while after-tax profit for the first two months reached NT$6.10 billion, and EPS totaled at NT$0.36.
CDF's businesses demonstrated stable operational performance despite the global financial markets fluctuations due to the conflict between Ukraine and Russia. Despite China Life Insurance increased to NT$1.50 billion in provision for the expected credit losses due to Russian bonds in February, after-tax profit in February was NT$2.07 billion and after-tax profit for the first two months was NT$5.80 billion. KGI Bank benefited from the steady growth of its core income, including interest and fee income; as such, its after-tax profit in February was NT$0.38 billion and after-tax profit for the first two months was NT$0.94 billion. KGI Securities' after-tax profit in February was NT$0.57 billion and after-tax profit for the first two months was NT$0.70 billion. This was driven by the contribution of diverse business activities. CDIB's after-tax profit in February reached NT$0.11 billion, and its after-tax deficit for the first two months is NT$0.34 billion due to the increase in the valuation of its investment positions.
Richard Chang, the spokesperson of CDF, stated that the Ukrainian-Russo conflict has prompted raw material prices to surge as a result of imposed sanctions. The impact on the global economy of the conflict remains uncertain. CDF will remain focused on executing its ABCDE strategy and proactively managing the uncertain environment to reduce operational fluctuations.