Fubon Financial Holdings has announced its earnings results for November 2024, reporting an unaudited consolidated pre-tax profit of NT$12.94 billion and a net profit of NT$10.36 billion. The monthly net profit reached a record high for the period. Cumulative figures showed a consolidated pre-tax profit of NT$160.17 billion and a net profit of NT$140.65 billion, marking the second-highest on record for this timeframe, with an EPS of NT$10.03.
Fubon Life and Fubon Securities achieved their highest monthly net profits for the period, while Taipei Fubon Bank and Fubon Securities set new records in cumulative net profits. Fubon Life's November net profit was NT$8.27 billion, showing significant improvement from last year's loss during the same period, with cumulative net profit reaching NT$92 billion.
The company's investment income sources included interest income and capital gains from equities and funds as Taiwan's stock markets performed well in November. In response to high treasury yields amid US political changes, Fubon Life increased its bond positions to enhance recurring income.
Taipei Fubon Bank reported a November net profit of NT$1.76 billion, contributing to a cumulative figure of NT$29.07 billion, up 21% year-over-year (YoY). This growth was driven by increases in both net interest income and fee income across various business segments.
Fubon Insurance posted a November net profit of NT$0.01 billion due to provisions but maintained strong underwriting performance with cumulative profits at NT$3.49 billion. Direct written premiums rose 6% YoY in November, supported by engineering insurance growth.
Fubon Securities' November net profit stood at NT$0.85 billion, up 61% month-over-month (MoM), attributed to proprietary trading gains as TAIEX reached new highs this year.