The nation’s major financial conglomerates with life insurance subsidiaries have reported higher net profits for the first quarter of this year on the back of investment returns, buoyed by the booming domestic stock market, companies’ data showed.
Fubon Financial Holding Co (富邦金控), the nation’s second-largest financial holding firm by assets, yesterday reported net profit of NT$11.49 billion (US$403.7 million) for last month, up 42 percent year-on-year, while its net profit totaled NT$50 billion in the first quarter, up 118 percent year-on-year, it said in a statement.
Earnings per share were NT$4.89 in the first quarter, ranking the company first among the nation’s