RESILIENT: Fubon Life reported an annual increase of 22 percent in investment income, even though the New Taiwan dollar’s appreciation eroded profitability

Taipei Times
Date: May 15, 2018
By: Crystal Hsu  /  Staff reporter

Fubon Financial Holding Co (富邦金控) posted NT$16.5 billion (US$554.77 million) in net profit for last quarter, soaring 66.5 percent from the same period last year, thanks to fast-growing investment and interest income at its life insurance and banking units.

The result translated into earnings per share of NT$1.61, helping the firm’s total assets to gain 9.6 percent to a record NT$6.97 trillion and secure second place among its peers next only to Cathay Financial Holding Co (國泰金).

Fubon Financial chairman Richard Tsai (蔡明興) attributed the improvement to steady operations at main subsidiaries Fubon Life Insurance Co (富邦人壽) and Taipei Fubon Commercial Bank (台北富邦銀行).

Fubon Life reported NT$31.9 billion in investment income, a 22 percent increase from a year earlier, even though the New Taiwan dollar’s appreciation eroded profitability, company data showed.    [FULL  STORY]