China Development Financial Holding Corporation (hereinafter referred to as "CDF") reported today its profit for the month of April. Unaudited after-tax profit was NT$1.55 billion, while after-tax profit for the first four months this year reached NT$11.22 billion, and EPS totaled at NT$0.67.
As the Ukraine-Russia conflict and inflation concerns continue to cause financial market fluctuation, CDF’s sustained positive momentum in April came mainly from its insurance and banking businesses. China Life’s after-tax profit in April was NT$1.93 billion and after-tax profit for the first four months was NT$10.77 billion, benefiting primarily from a stable performance of its insurance business and investment returns. KGI Bank sustained the growth of its core income from interest, its profit after tax in April was NT$0.43 billion and after-tax profit for the first four months was NT$1.78 billion. KGI Securities' after-tax profit in April was NT$0.21 billion and after-tax profit for the first four months was NT$1.65 billion, contributed by its brokerage and bond businesses. CDIB reported an after-tax loss of NT$0.32 billion for April, and its after-tax deficit for the first four months was NT$0.89 billion due to the fluctuation in the valuation of its investment portfolios.
Richard Chang, CDF spokesperson, stated that financial markets have observed fluctuations due to inflation concerns, the US’ Fed rate hike as well as corporate profits outlook, and also the Ukraine-Russia conflict which is expected to last longer. CDF will continue to implement risk controls and pandemic precautionary measures to ensure the health and safety of its customers and employees, while remaining focused on executing its ABCDE strategy.