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Fubon Financial ranks top earner in January-May period

2012/06/09 20:19:51

Taipei, June 9 (CNA) Fubon Financial Holding Co. retained the title as the most profitable listed financial holding company in Taiwan, posting the highest earnings per share in the first five months of this year, market sources said Saturday.

In May, when the stock market witnessed its losses trimmed compared with April and foreign exchange returns increased, all of the 15 listed financial holding companies recorded earnings, the sources said.

They added the 15 listed financial holding companies posted more than NT$18 billion (US$602 million) in combined net profit in May, up almost 80 percent from a month earlier also due to the improved bottom lines of their subsidiaries in banking, insurance and securities businesses.

Fubon Financial, which posted NT$1.88 billion in net profit in May, recorded NT$10.13 billion in net profit or NT$1.12 per share, ahead of the No. 2 Mega Financial Holding Co.

After registering NT$2.5 billion in net profit in May, Mega Financial posted NT$11.1 billion in net profit or NT$0.98 per sharein the first five months of this year.

Shin Kong Financial Holding Co. grasped the title as the third profitable company in the sector after it booked part of the returns from a real estate asset trust (REAT) investment located in downtown Taipei.

The company said it will continue to book the REAT returns in June. The returns from the investment will total NT$7.39 billion.

Shin Kong Financial, which posted about NT$5.0 billion in net profit in May, recorded NT$7.19 billion in net profit or NT$0.85 per share in the past five months.

Chinatrust Financial Holding Co. came in fourth during the period with EPS at NT$0.76, ahead of E. Sun Financial Holding Co. with NT$0.72, First Financial Holding Co. with NT$0.69, Taishin Financial Holding Co. with NT$0.63, Taiwan Cooperative Financial Holding Co. with NT$0.58 and SinoPac Financial Holdings Co. with NT$0.56.

Hua Nan Financial Holdings Co. was the 10th most profitable listed financial holding company, posting NT$0.51 in EPS, followed by Waterland Financial Holdings Co. and Cathay Financial Holding Co. with NT$0.4 each, Jih Sun Financial Holding Co. with NT$0.35, Yuanta Financial Holdings Co. with NT$0.31 and China Development Financial Holding Co. with NT$0.16.

(By Tien Yu-pin and Frances Huang)
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