CDF announced net losses of NT$1.39 billion for the month of October 2018
Nov 9, 2018
Among CDF’s principal subsidiaries, KGI Bank primarily derived earnings from net interest and fee income in October, which fell short of shoring up the losses incurred on valuation impairment of its investment portfolio amid intensifying financial market volatility, resulting in the Bank’s reported a net loss of NT$25mn for October. Cumulative net profit in January–October 2018 for KGI Bank arrived at NT$2.465 billion.
KGI Securities’ revenue momentum was hampered by the TWSE’s declining average daily turnover in October; trading was also exposed to increasing market volatility. The brokerage arm registered a net loss of NT$315mn in October, bringing cumulative January–October earnings to NT$3.286 billion.
Corrections across international capital markets in October weighed on CDIB Capital Group’s portfolio performance, leading to a monthly net loss of NT$977mn. CDIB Capital Group’s cumulative net profit for January–October this year reached NT$1.283 billion.
China Life reported October net profit of NT$422 million, for cumulative January–October 2018 net profit of NT$10.918 billion.
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