TAIPEI, Taiwan, July 10, 2023-CTBC Holding has announced its preliminary earnings for June 2023.
The Company posted a pre-tax profit of NT$8.8 billion and an after-tax profit of NT$9.0 billion for the month. On a cumulative basis, the Company's pre-tax profit was NT$32.8 billion, after-tax profit was NT$28.8 billion, and after-tax EPS was NT$1.48.
For the month, CTBC Bank reported an after-tax profit of NT$3.8 billion. This performance was attributable to net interest income growth driven by sustained business momentum in loans and deposits, as well as increasing WM fee income amid positive sentiment in the capital markets. Meanwhile, Taiwan Life reported an after-tax profit of NT$5.0 billion on the back of dividend income in addition to capital gains on equities investment, supported by the buoyant stock market performance. Year to date, CTBC Bank's net profit grew 29% YoY, driven by resilient loan growth coupled with widened spreads and the recovery of fee income growth from WM and credit card fees. Taiwan Life posted lower profits YoY on elevated hedging costs and moderated investment gains due to the base effect.
The asset quality of CTBC Bank remained stable and the provision charge was NT$630 million in the month.
The earnings of our key subsidiaries were as follows:
Unit: NT$ million
Subsidiary
June 2023
June 2023 (YTD)
Pre-tax profit
After-tax profit
Pre-tax profit
After-tax profit
Bank
4,712
3,814
26,319
20,964
Insurance
3,656
4,952
3,297
5,118
Securities
227
228
757
716
CTBC Holding
8,792
9,038
32,841
28,813
(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 10 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2023 07:19:03 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. 
