China Development Financial Holding Corporation (hereinafter referred to as "CDF") reported today its profit for the month of August. Unaudited after-tax profit was NT$ 1.80 billion, while after-tax profit for the first 8 months this year reached NT$18.59 billion, and EPS was NT$1.11.
CDF and its subsidiaries continued to maintain solid performance in August despite global market fluctuations caused by geopolitical risks and the Fed's rate hike. China Life, benefited from dividend income as well as the depreciation of the New Taiwan dollar against the US dollar. Also lower hedging cost resulted in after-tax profit in August of NT$1.33 billion, and after-tax profit for the first eight months of NT$16.89 billion. KGI Bank continued to grow and diversify its businesses across consumer banking, corporate banking and financial markets. With contributions from interest and fee income, KGI Bank’s after-tax profit in August was NT$655 million, and after-tax profit for the first eight months was NT$4.21 billion. The business performance of KGI Securities in August was mainly supported by the brokerage business, coupled with bond and derivatives business. KGI Securities’ after-tax profit in August was NT$441 million, and after-tax profit in the first eight months of this year was NT$2.60 billion. CDIB Capital Group reported an after-tax loss of NT$64 million in August, and its after-tax deficit for the first eight months was NT$0.98 billion due to the fluctuation in the valuation of its investment portfolios.
CDF stated that the financial market outlook is expected to remain challenging and uncertain due to the slowdown of global economic growth. CDF will continue to focus on growing its own business momentum and drive long-term business development in order to mitigate operational risk.