TAIPEI, Taiwan, May 9, 2023-CTBC Holding has announced its preliminary earnings for April 2023.
The Company posted a pre-tax profit of NT$4.4 billion and an after-tax profit of NT$3.4 billion for the month. On a cumulative basis, the Company's pre-tax profit was NT$20.2 billion, after-tax profit was NT$16.4 billion, and after-tax EPS was NT$0.84.
For the month, CTBC Bank reported an after-tax profit of NT$2.7 billion, as fewer working days resulted in lower net interest income and fees, despite stable momentum in its lending and WM businesses. Meanwhile, Taiwan Life reported after-tax profit of NT$635 million, benefitting from appreciation of the U.S. dollar. Year to date, CTBC Bank's net profit grew 51% YoY. This performance was supported by resilient loan growth, coupled with widened spreads as well as the recovery of fee income growth driven by WM and credit card fees. Taiwan Life posted lower profits YoY on elevated hedging costs and subdued investment gains.
The asset quality of CTBC Bank remained stable and the provision charge was NT$766 million in the month, mostly due to 1% general provisions taken against new loans.
The earnings of our key subsidiaries were as follows:
Unit: NT$ million
Subsidiary
March 2023
March 2023 (YTD)
Pre-tax profit
After-tax profit
Pre-tax profit
After-tax profit
Bank
3,462
2,733
17,520
14,100
Insurance
878
635
(184)
(247)
Securities
61
64
435
405
CTBC Holding
4,363
3,392
20,158
16,352
(consolidated basis)
About CTBC Holding
CTBC Holding (TPE: 2891) was established in 2002, having grown out of CTBC Bank, which has been helping build customers' personal wealth and Taiwan's economy since 1966. Headquartered in Taipei, its subsidiaries specialize in diverse services including banking, securities, insurance, venture capital and asset management.
With a global team of over 30,000 people, CTBC Holding operates over 370 locations in 14 markets, including the U.S., Canada, Japan, China, Hong Kong, Singapore, India, Indonesia, Malaysia, Vietnam, Thailand, Myanmar, the Philippines and Australia. It is also a Taiwan industry leader in corporate and environmental sustainability, consistently being an early adopter of emerging international standards and best practices.
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CTBC Financial Holding Co. Ltd. published this content on 09 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2023 05:49:11 UTC.
CTBC FINANCIAL HOLDING CO., LTD. is a Taiwan-based financial holding company. The Company is principally engaged in investment banking business, bills finance business, credit card business, trust business, insurance business, securities business, futures business, venture capital business, securities investment trust business, foreign financial institution investment business and other financial related businesses. The Company operates its businesses in domestic market and overseas markets.
CTBC FINANCIAL HOLDING CO., LTD. 
