TURNAROUND:The financial holding firm said that its investment portfolio’s value has recovered to about NT$4 billion last month, amid a rally in local stock markets
Date: Mar 25, 2017
By: Ted Chen / Staff reporter
Fubon Financial Holding Co (富邦金控) yesterday said that wild swings in the value of its investment portfolio last year would not affect its dividend policy this year.
Fubon Life Insurance (富邦人壽), the company’s largest and most profitable unit, saw the value of its holdings drop from NT$31.7 billion (US$1.04 billion) at the end of the third quarter last year to a loss of NT$6.4 billion at the end of last year.
That compares with a portfolio value of NT$15.6 billion at the end of 2015.
Fubon Financial’s holdings have since recovered to about NT$4 billion at the end of last month amid a rally in local stock markets, chief financial officer Eddie Chen (陳彥松) said. [FULL STORY]