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Hua Nan Financial cautiously upbeat
UNCERTAINTY: The financial holding firm is targeting 5% earnings growth this year as the global economy recovers, but added that the pandemic remains a risk
By Crystal Hsu / Staff reporter
State-run Hua Nan Financial Holding Co (華南金控) aims to grow its earnings this year at a pace in line with the nation’s GDP growth, although the COVID-19 pandemic and low interest rates would continue to weigh on its performance, senior officials told a virtual investors’ conference yesterday.
That suggests an improvement of about 5 percent after missing its pre-tax profit target last year by 4 percent mainly due to losses at its securities arm, Hua Nan Securities Co (華南永昌證券) senior vice president and general manager Jully Chu (朱婉麗) said.