Taipei Times
Date: Mar 06, 2018
By: Crystal Hsu  /  Staff reporter

State-run Mega Financial Holding Co (兆豐金控) is expecting healthy business growth this year from strong wealth management product sales and corporate banking, top executives said yesterday.

The conglomerate also made significant headway in upgrading its anti-money laundering system after being fined heavily by financial regulators in the US in recent years over compliance failures.

The group posted NT$25.74 billion (US$878.74 million) in net income for last year, with all subsidiaries generating profits despite a further US$29 million in fines from US financial authorities for previous breaches of US money laundering and banking secrecy laws, Mega Financial chairman Michael Chang (張兆順) told a media briefing in Taipei.

The earnings performance represented a 15 percent increase from a year earlier, or earnings pre share of NT$1.96, company data showed.    [FULL  STORY]