TAIPEI (Taiwan News) — Taiwan’s financial holding companies reported a record combined profit of NT$597.98 billion (US$18.06 billion) for 2024, a 63.7% increase over the previous year.
Fubon Financial saw a record annual net profit of NT$151.16 billion and maintained the highest earnings per share at NT$10.8 (33 cents) for the 16th consecutive year. Subsidiary Fubon Life Insurance posted a net profit of NT$102.53 billion, while Taipei Fubon Bank and Fubon Securities both set new highs in their respective profits, per CNA.
EPS is a key financial measure that shows how much profit a company makes for each share of its stock. It's calculated by dividing the company’s net income, after taxes and expenses, by the total number of shares in circulation, according to Sinotrade.
A higher EPS generally means the company is more profitable, indicating a stronger performance for its stock. EPS helps investors assess a company's profitability and potential for growth.
Cathay Financial achieved a net profit of NT$111.19 billion and an NT$7.28 EPS, with subsidiary Cathay United Bank seeing a 30% increase in December’s net profit and a full-year net profit of NT$38.34 billion, marking a historical record.
CTBC Financial reported NT$72.03 billion in net profit and a historical NT$3.64 EPS, with its banking unit contributing a 20% growth over 2023.
Yuanta Financial posted a record net profit of NT$35.83 billion and a NT$2.77 EPS, largely driven by the strong performance of Yuanta Securities which contributed a net profit of NT$21.16 billion. KGI Financial recorded a net profit of NT$33.55 billion and an NT$1.97 EPS, with its subsidiary China Life Insurance posting a loss in December due to conservative investments.
SinoPac Holdings reached a net profit of NT$22.30 billion, its second consecutive year of record earnings. It noted that last year was the first year in the company’s history to achieve a full-year profit exceeding NT$20 billion. This was mainly driven by a strong capital market and strong earnings from both its banking and securities subsidiaries.
E.Sun Financial achieved NT$26.08 billion, a 19.87% increase from 2023. Taishin Financial saw a 37.47% year-over-year growth in net profit, reaching NT$20.07 billion, despite a net loss reported by Taishinlife.
Among the four major state-owned financial companies, Mega Financial reported a record NT$34.766 billion in net profit, First Financial posted a record NT$25.359 billion, Hua Nan Financial reached a record NT$23.123 billion, and Taiwan Cooperative Financial saw NT$19.743 billion in profits.
