Not Cathay or China Trust! Taiwan's Most Profitable Financial Holding Company Earns 'NT$24.6 Billion in a Single Month,' Securing Dual Crown in EPS and Profits

Despite market volatility in August and a 'rising prices, shrinking volume' trend in the Taiwan stock market, Taiwan's financial sector delivered outstanding results, driven by a robust capital market, widening interest margins, and strong wealth management fee income.

The 12 listed financial holding companies (FHCs) reported a combined self-compiled after-tax net profit of NT$86.126 billion for August alone. From January to August 2023, their cumulative profit reached NT$578.907 billion — a 59% year-on-year increase — setting a new historical high for the same period. At this pace, the full-year 2023 profit is highly likely to surpass the previous annual record of NT$597.979 billion.

### FHC Twin Leaders: Fubon Tops in Profits and EPS; Cathay Achieves Over 12% Equity Ratio

**Fubon Financial (2881): Leading in Both Profits and EPS** Fubon posted an after-tax net profit of NT$24.68 billion in August and a cumulative profit of NT$120.26 billion (up 64% YoY) for the first eight months, with earnings per share (EPS) reaching NT$8.30. Its subsidiary, Fubon Life Insurance, earned NT$17.25 billion in a single month, while Taipei Fubon Bank, Fubon Securities, and Fubon Asset Management all achieved record-high monthly and cumulative profits for the same period.

**Cathay Financial (2882): Equity Ratio Exceeds 12%, Setting New Historical High** Cathay reported an August after-tax net profit of NT$11.3 billion and a cumulative profit of NT$98.64 billion (up 52% YoY), with EPS at NT$6.47. Benefiting from improved valuation of its equity portfolio, Cathay Life Insurance contributed NT$58.41 billion cumulatively. Cathay’s self-compiled equity rose to NT$986.4 billion in August, pushing its equity ratio above 12% — another record high. Cathay United Bank, property & casualty insurance, securities, and asset management also achieved record-high cumulative profits.

### Rising Dark Horses: Mega, KGI, and Taishin-Shin Kong Shine

**Mega Financial (2885): Profits Double, EPS Hits NT$3.60** Mega recorded an August after-tax net profit of NT$7.01 billion and cumulative profits of NT$49.941 billion (up 115% YoY), with EPS at NT$3.60. Mega Securities contributed NT$4.506 billion in August, while Mega International Commercial Bank generated NT$1.532 billion.

**CTBC Financial (2891): Wealth Management Fees Surge Nearly 40%** CTBC posted an August after-tax profit of NT$9.931 billion and cumulative profits of NT$53.879 billion, with EPS at NT$2.70. CTBC Bank’s cumulative profit reached NT$42.596 billion (up 15% YoY), a new high, driven by widened net interest margins, nearly 40% growth in wealth management fees, and credit card spending up over 20%.

**Taishin Shin Kong Financial (2887): Strong Business Momentum** August profit was NT$6.97 billion, with cumulative profits of NT$59.75 billion through August and EPS at NT$2.31. Taishin Bank, Shin Kong Bank, and Taishin Securities all achieved record-high cumulative profits. Shin Kong Life maintained stable performance due to steady CSM (Contract Service Margin) release and investment gains.

**Yuanta Financial (2890): Dual Engine Growth from Securities and Banking** Yuanta reported an August after-tax net profit of NT$4.412 billion and cumulative profits of NT$33.344 billion (up 85% YoY), with EPS at NT$2.26. Core subsidiaries Yuanta Bank and Yuanta Securities both set new highs in cumulative profits.

**KGI Financial (2883): First 8-Month Profit Surpasses Full-Year Historical Highs** Benefiting from the rebound in Taiwan’s stock market, KGI earned NT$5.761 billion in August and a cumulative profit of NT$36.29 billion through August — already exceeding its previous full-year records. EPS stood at NT$2.11. KGI Securities earned NT$22.754 billion (up 235% YoY), while KGI Life earned NT$12.653 billion (up 95% YoY).

**E.Sun Financial (2884): Steady Growth in Core Banking Business** E.Sun posted an August after-tax net profit of NT$3.595 billion and cumulative profits of NT$28.04 billion (up 20% YoY), with EPS at NT$1.73. This was primarily driven by E.Sun Bank’s cumulative profit of NT$24.85 billion (up 10% YoY).

### Four Major Publicly-Owned FHCs:兆豐 Leads with EPS of NT$1.97

Publicly-owned FHCs also demonstrated resilient performance. Cumulative profits for the first eight months:

- **Chiao Tung Financial (2886)**: August profit of NT$3.56 billion, cumulative profit of NT$29.219 billion, EPS of NT$1.97 — maintaining leadership among public-sector FHCs. - **Hua Nan Financial (2880)**: Cumulative after-tax net profit of NT$24.022 billion, EPS of NT$1.71. - **First Financial (2892)**: Cumulative after-tax net profit of NT$23.85 billion, EPS of NT$1.66. - **Land Bank Financial (5880)**: Cumulative after-tax net profit of NT$18.325 billion, EPS of NT$1.10.