CDF announces record quarterly results of 9.8 billion

May 11, 2021
Financials

China Development Financial Holding (CDF) held its 1Q21 analyst meeting today. During the meeting, CDF management said the operating focus for 2021 is to implement the ABCDE strategy, including accelerating digital transformation, optimizing capital allocation, introducing the NPS methodology, enhancing employee engagement and pursuing sustainability.

Regarding subsidiary earnings, China Life saw 1Q21 net profit surge 121% YoY toNT$9.84bn, of which NT$4.43bn was attributable to CDF as it increased its holdings of China Life to 56% in February. KGI Bank reported 1Q21 net profit of NT$1.09bn, up 92% YoY, as net revenue, demand deposits and wealth management fees rose a respective 27%, 38% and 20% YoY. CDIB Capital Group’s 1Q21 net profit came in at NT$1.62bn, and its AUM totaled NT$46.7bn at end-1Q21 as portfolio valuations recovered from 2020 levels. Given broad-based operating recovery, KGI Securities posted 1Q21 net profit of NT$4.2bn, of which NT$0.7bn, or 16.8%, was contributed by overseas earnings, which increased YoY.

April earnings arrived at NT$2.88bn, leading to January-April net profit of NT$12.72bn, equivalent to EPS of NT$0.85.

CDF remains committed to being a leader in ESG in Taiwan and as such has confirmed its intention to reach net zero carbon emissions by 2045.

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CDF reports April net profit of NT$2.88bn. Cumulative net profit by April reached NT$12.72bn & EPS of NT$0.85
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