China Development Financial Holding Corporation (hereinafter referred to as "CDF") reported today its profit for the month of March. Unaudited after-tax profit was NT$3.57 billion, while after-tax profit for the first quarter this year reached NT$9.67 billion, and EPS totaled at NT$0.58.
CDF and its subsidiaries demonstrated stable performance despite financial market fluctuations caused by the impact of the Ukraine and Russia conflict, the rise in oil price and also by the US Fed rate hike. China Life after-tax profit in March was NT$3.03 billion and after-tax profit for the first quarter was NT$8.83 billion, benefiting primarily from the appreciation of the US dollar. KGI Bank continued to develop its diverse businesses including corporate banking, personal banking and financial markets, and sustained the growth of its core income from interest and fees. KGI Bank’s profit after tax in March was NT$0.41 billion and after-tax profit for the first quarter was NT$1.35 billion. KGI Securities' after-tax profit in March was NT$0.74 billion and after-tax profit for the first quarter was NT$1.44 billion. This was driven by the stable brokerage business operation and a balanced contribution from derivatives, bonds, and overseas business. CDIB reported after-tax loss of NT$0.22 billion for March, and its after-tax deficit for the first quarter was NT$0.57 billion due to the fluctuation in the valuation of its investment portfolios.
Richard Chang, CDF spokesperson, stated that the group will continue monitoring the impact of Ukraine-Russia conflict and the US’ Fed rate hike on the global economy. In response to the recent pandemic development in Taiwan and overseas, CDF has prepared and implemented pandemic precautionary measures to ensure the health and safety of its customers and employees. CDF will remain focused on executing its ABCDE strategy and proactively managing the uncertain environment to reduce operational fluctuations.
