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Taiwan Cooperative reports profitability spike amid recovery

State-run Taiwan Cooperative Financial Holding Co (合庫金控) yesterday reported that profitability spiked 32.91 percent in the first three quarters to NT$16.46 billion (US$591.89 million) as interest income rose and bad loan provisions fell due to an economic recovery at home and abroad.
The results translated into earnings per share of NT$1.17, company data showed.
The operating environment improved after global vaccination rates against COVID-19 climbed and infections subsided, giving corporations the confidence to resume business activity, Taiwan Cooperative Financial Holding president Chen Mei-tsu (陳美足) said.
The conglomerate’s main subsidiary, Taiwan Cooperative Bank (合庫銀行), generated net income of NT$14.25 billion, a 33.25 percent year-on-year ....

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