Radio Taiwan International
Date: Feb. 18, 2019
By: Han Ting-ting and Frances Huang
TAIPEI (CNA) — Cathay Financial Holding Co. (國泰金控) was the top-earning Taiwanese company of its kind in January amid a significant rebound of profitability in the sector, according to market statistics.
In January, the aggregate net profit of the 15 financial holding firms listed on the local main board topped NT$30 billion (US$972 million), reversing a combined net loss of almost NT$6 billion in December that was caused by heavy foreign exchange and securities investment losses, the data showed.
Among the 15 financial holding companies, Cathay Financial posted NT$4.7 billion in net profit, or NT$0.37 per share, in January after its flagship arms, Cathay Life Insurance Co. and Cathay United Bank registered a net profit of NT$2.23 billion and NT$2.22 billion, respectively.
The January figure was a strong recovery from Cathay Financial’s NT$4.12 billion in net losses in December, the data showed. [FULL STORY]