China Development Financial Holding Corporation (CDF) held its Q2 2022 investor conference today. During the conference, CDF reported its profit result and strategic developments for the first half of 2022. CDF and its subsidiaries maintained a steady profit growth with net income reaching NT$13.62 Billion, 4th within the FHC industry, and an EPS of NT$0.81.
China Life remains as the largest contributor of profit performance for the CDF Group in the first half of 2022, with a net income of NT$13.53 billion, driven by a prudent investment allocation and risk management in the face of a volatile global market. China Life also continued to increase the proportion of traditional installment products, as well as the value of new business (VNB) margin which rose to 35.9% in the first half of 2022. KGI Bank’s net income for the first half of 2022 increased by 27% YoY to NT$2.88 billion and its net interest margin (NIM) improved to 1.43%, mainly by interest income and the optimization of its asset mix. KGI Securities' net income for the first half was NT$2.14 billion as it continues to maintain a leading position in ECM (Equity capital market) & DCM (Debt capital markets). While CDIB Capital reported a net loss of NT$1.58 billion in the first half due to unrealized mark-to-market change from market fluctuation, it is expected to regain profit momentum in the second half of 2022.
In addition to a stable financial performance, CDF continues to drive its sustainability agenda forward by integrating the net-zero transformation strategy via its subsidiaries and by launching green financial products and services and creating greater positive impact. As of the end of June 2022, China Life’s overseas green bond investment amounted to NT$24.5 Billion. KGI Bank’s green deposit program, which was launched this May, has been supported by corporate clients and accumulated NT$4 Billion of deposits. KGI Securities has been promoting sustainable finance through diversified businesses such as equity and bond underwriting, and the green financing amount has exceeded $47 Billion. CDIB Capital also supports the development of sustainable industries through projects such as new energy investment.
Steve Bertamini, President and CEO of CDF, said that CDF will continue executing its ABCDE strategy while managing market fluctuations. The company recently launched the Employee Trust Shareholding Plan, encouraging employees to engage in the company’s performance and shared results, demonstrating its vision to “Become Employer of Choice.”