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CDF posts net profit NT$1.169bn in April Jan-Apr net profit of NT$4.779bn, for EPS of NT$0.33

      2019-05-08

China Development Financial (henceforth CDF) announced earnings today. As the group’s spokesperson, Eddy Chang says that benefiting from increasing financial investment proceeds and investment valuation gains, CDF posted April net profit of NT$1.169bn and January-April net profit of NT$4.779bn, for EPS of NT$0.33. Net profit in the first four months of 2018 was up about 14% YoY.
 
Subsidiary KGI Bank benefited from a stabilizing international financial market, which was favorable to financial transactions, and from contribution from net interest income and fee income, resulting in April net profit of NT$462mn and January-April net profit of NT$1.364bn. KGI Securities posted April net profit of NT$303mn and January-April net profit of NT$1.711bn as the MoM increase in April turnover for Taiex, which reclaimed the 11,000-point mark, was beneficial to its brokerage, proprietary trading, and other businesses. CDIB Capital posted April net profit of NT$372mn and January-April net profit of NT$1.608bn amid an across-the-board rise of international capital markets. China Life posted April net profit of NT$1.036bn and January-April net profit of NT$3.842bn.
 
Eddy Chang says that with the US president likely to unleash higher tariffs again in early May, market sentiment has turned conservative on Sino-US trade negotiations. CDF will keep a close eye on developments and will strengthen risk control. In terms of business development, CDF will devote efforts to advancing horizontal cooperation between divisions, escalating the development and marketing of new products, and deepening client relationships and competitive advantages, so as to elevate the company’s long-term profitability.

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