China Development Financial Holding Corporation (hereinafter referred to as "CDF") reported today its profit for the month of July. Unaudited after-tax profit was NT$ 3.17 billion, while after-tax profit for the first 7 months this year reached NT$16.79 billion, and EPS was NT$1.0.
CDF’s core businesses including life insurance, banking and direct investment improved their performance in July. China Life benefited from dividend income, coupled with the depreciation of New Taiwan dollar against US dollar that helped maintain a lower hedging cost. China Life reported after-tax profit in July at NT$2.02 billion, and after-tax profit for the first seven months this year reached NT$15.55 billion. KGI Bank continued to grow its different businesses with dividend income, interest and fee income as the main contributors of profit for July. KGI Bank’s after-tax profit in July was NT$680 million, and after-tax profit for the first seven months was NT$3.55 billion. Capital market fluctuations affected trading volumes and profit performance of KGI Securities’ brokerage business in July. KGI Securities’ after-tax profit in July was NT$23 million, and after-tax profit in the first seven months of this year was NT$2.16 billion. CDIB Capital Group benefited from more stable international capital markets and an increase in the evaluation of investment positions. CDIB Capital Group reported an after-tax profit in July at NT$659 million, and an after-tax deficit for the first seven months of this year was reduced to NT$920 million.
CDF stated that the global economic outlook is still being impacted by inflation and a corporate profit decline. CDF will focus on growing its own business momentum and stay vigilant to market changes while managing fluctuations as it continues to focus on long-term steady growth.