CTBC reports record high Q1 profit - Taipei Times

CROSS-BORDER FINANCING :

Main subsidiary CTBC Bank remained the key growth engine, posting a net profit of NT$16.59 billion, up 23 percent year-on-year, also a record

By Crystal Hsu / Staff reporter

CTBC Financial Holding Co (中信金控) yesterday reported record first-quarter profit and issued a positive outlook for earnings growth, thanks to strong overseas banking momentum, resilient core operations and potential interest-rate tailwinds.The company posted net profit of NT$23.1 billion (US$729.9 million) for the first quarter, up 16 percent year-on-year and the highest on record for the period.Earnings per share were NT$1.18, it said.

CTBC Financial Holding Co president Rachael Kao, right, speaks at the company’s quarterly earnings conference in Taipei yesterday.