CDF reported November net profit of NT$1.43bn

Dec 10, 2020


China Development Financial (CDF, TWSE: 2883) reported preliminary November net profit of NT$1.432bn, January-November cumulative earnings NT$11.409bn and EPS of NT$0.78. “The monthly performance was backed by solid contributions from the brokerage and commercial banking sectors as well as direct investment gains driven by capital market and TAIEX turnover,” said Richard Chang, Executive Vice President & Spokesperson.

Interest, fee income along with financial investment gains contribute to KGI Bank’s November net profit of NT$381mn, for January-November earnings of NT$3.726bn.

KGI Securities saw November net profit arrive at NT$1.037bn, for January-November earnings of NT$7.543bn. Brokerage, fixed income and underwriting businesses were resilient across the board, with overseas investments contributing to earnings as well.

CDIB Capital Group registered November net profit of NT$99mn, reducing accumulated loss to NT$1.005bn while China Life’s November earnings came in at NT$542mn, for accumulated profit of NT$16.188bn.

Richard Chang indicated  that the policy focus of the incoming US president and his administration will be a major swing factor for the global economy and financial markets. CDF will remain prudent to reduce operational risks through risk control mechanisms. Meanwhile, CDF continues to dedicate to ESG and will expand the alliance of RICE (Resilience of Industries on Climate Change Enhancement), established in November 2020 to strengthen business climate risk assessment and enhance the resilience of industries against climate change.

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