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Newsroom

CDF reporting February preliminary earnings of NT$938mn

      2019-03-08

China Development Financial (CDF) announced today that its February preliminary earnings were NT$938mn, leading to January-February net profit of NT$2.294bn, or EPS of NT$0.16. CDF spokesperson Eddy Chang said brokerage revenue were affected by fewer trading days in February as a result of the Chinese New Year; however, the firm’s financial assets en masse enjoyed decent valuation gains driven by capital market rallies.

The global financial market was relatively stable in February. KGI Bank reported February net profit of NT$306mn, pushing up January-February earnings to NT$679mn, contributed mainly by net interest and fee incomes. KGI Securities only registered net profit of NT$163mn in February due to fewer trading days in that month. The brokerage saw January-February net profit arrive at NT$832mn, equivalent to EPS of NT$0.26, approximately. CDIB Capital Group posted February net profit of NT$423mn, for accumulated earnings of NT$766mn in the first two months of 2019, given proprietary investment valuation gains. China Life announced February earnings of NT$971mn, leading to January-February net profit of NT$1.747bn.

Eddy Chang said global economic activities could be capped by continued uncertainties over regional conflicts and global trade disputes, creating headwinds for CDF’s businesses. CDF has endeavored to promote inter-subsidiary collaboration on product development and marketing. Going forward, the firm aims to strengthen relationships with customers as well as its competitive advantages to ensure consistent long-term profitability. CDF is the first business of its kind in Taiwan to utilize innovative financial technology to achieve data portability (digital ID verification) for customers of KGI Bank and KGI Securities should they require the services of the other subsidiary, marking the first step in realizing the concept of “KGI Inside” within CDF.

Also, CDF began the recruitment of management associates (MA) early in December 2018, and has proactively participated in the career fairs of many universities. Top executives of CDF and subsidiaries as well as existing MAs will attend the 2019 NTU Career Fair on March 9 to talk about the prospects of the financial industry and share first-hand accounts of working at CDF with students and new graduates who wish to pursue a career in the industry.

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