CDF reports June after-tax profit of NT$ 2.07 billion After-tax profit for the first half of this year reached NT$13.61 billion, and EPS stood at NT$0.81

Jul 8, 2022

China Development Financial Holding Corporation (hereinafter referred to as "CDF") reported today its profit for the month of June. Unaudited after-tax profit was NT$ 2.07 billion, while after-tax profit for the first half this year reached NT$13.61 billion, and EPS was NT$0.81.

Concerns over inflation and economic growth continued to cause capital market correction in the month of June. Yet as listed companies entered the peak season for dividend distribution, dividend income has supported profit performance for CDF and its subsidiaries. China Life’s insurance business remained stable in June, and benefited from the dividend income and the depreciation of the New Taiwan dollar against the US dollar, which largely reduced the hedging cost. China Life’s after-tax profit in June was NT$2.34 billion and after-tax profit for the first half of the year was NT$13.53 billion. KGI Bank continued to develop its diversified businesses in a balanced manner. In addition to core income from interest and fees, dividend income also contributed to its profit growth. KGI Bank’s after-tax profit in June was NT$670 million, and after-tax profit for the first half was NT$2.87 billion. The transaction volume of the capital market was stable in June, which supported the performance of KGI Securities' brokerage business. KGI Securities reported an after-tax profit of NT$263 million in June, and after-tax profit in the first half was NT$2.13 billion. CDIB reported an after-tax loss of NT$378 million for June, and its after-tax deficit for the first half was NT$1.57 billion due to the fluctuation in the valuation of its investment portfolios.

CDF stated that an expected global geopolitical risk, concerns over inflation and an economic growth slowdown are to continue. CDF will focus on growing its own business momentum while stay vigilant to the market changes, in order to manage fluctuations as it continues to focus on a long-term steady growth.

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