China Development Financial Holding Corporation (hereinafter referred to as "CDF") reported today its profit for the month of July. Unaudited after-tax profit was NT$3.70 billion, while after-tax profit for the first 7 months this year reached NT$13.80 billion. EPS was NT$0.82.
The performance of the Taiwan stock market in July continued a bullish trend, coupled with the injection of dividends income, which boosted the profit momentum of CDF and its subsidiaries. China Life benefited from dividend income, and the appreciation of the U.S. dollar against the New Taiwan dollar, which is conducive to proper hedging management. The after-tax profit in July was NT$2.70 billion, and the after-tax profit in the first 7 months of this year was NT$7.63 billion. KGI Securities benefited from a strong performance in the Taiwan stock market last month which resulted in an after-tax profit in July of NT$1.13 billion and an after-tax profit in the first 7 months of NT$4.82 billion, increasing more than 120% YoY compared to the same period last year. KGI Bank continued to strengthen its diverse businesses contributing to interest and fee income. KGI Bank’s after-tax profit in July was NT$428 million and after-tax profit for the first 7 months was NT$3.43 billion. CDIB Capital Group’s after-tax profit in July was NT$14 million and after-tax profit for the first 7 months was NT$1.60 billion.
CDF stated that the overall business performance for the Group remain stable and healthy and that it will continue to focus on the implementation of core strategies and risk control mechanisms to mitigate operational risks, and pursue long-term and sustainable development.