CTBC Financial : Earnings for August 2023

Press release

Earnings for August 2023

TAIPEI, Taiwan, September 7, 2023-CTBC Holding has announced its preliminary earnings for August 2023.

The Company posted a pre-tax profit of NT$8.8 billion and an after-tax profit of NT$7.7 billion for the month. On a cumulative basis, the Company's pre-tax profit was NT$50.8 billion, after-tax profit was NT$44.1 billion, and after-tax EPS was NT$2.26.

For the month, CTBC Bank reported an after-tax profit of NT$4.3 billion. This performance was attributable to growing fee income driven by WM card credit card fees, as well as stable net interest income driven by sustained business momentum in loans and deposits. Meanwhile, Taiwan Life reported an after-tax profit of NT$3.5 billion, benefitting from dividend income and USD appreciation. Year to date, CTBC Bank's net profit grew 22% YoY, driven by resilient loan growth, coupled with widened spreads in addition to resumed fee income growth from WM and credit card fees. Taiwan Life's net profit increased 24% YoY due to tax benefit related to COVID-policy loss.

The asset quality of CTBC Bank remained stable and the provision charge was NT$714 million in the month.

The earnings of our key subsidiaries were as follows:

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.