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O-Bank Reports Record Assets of 600 Billion Yuan in Q3, Expects Strong Annual Profits

o 2897.TW Mid and Small Cap 2000
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O-Bank announced in an online press conference that its total consolidated assets reached a historic high of 600 billion yuan in the first three quarters of this year. The bank’s after-tax net profit for the same period was 2.95 billion yuan, marking a 24% annual increase. The individual after-tax net profit amounted to 2.143 billion yuan, showing a 26% annual growth, while earnings per share (EPS) stood at 0.74 yuan, reflecting a notable 28% annual increase. This surpasses last year’s full-year EPS of 0.69 yuan, indicating a potentially record-breaking profit for the current year.

O-Bank’s profit in the first three quarters was reported at around 750 to 760 million yuan, with a cautiously optimistic outlook for the full year. Despite potential variables such as fluctuations in stock prices and exchange rates, the bank affirmed that current profits will not impact next year’s dividend distribution.

The cautious optimism extends to O-Bank’s subsidiaries, with China Banking Corporation Limited experiencing an 18% annual increase in EPS to 0.81 yuan in the first three quarters. Similarly, Huaxin Bank of America saw its EPS rise by 46% to 0.92 US dollars during the same period, both registering double-digit growth.

Looking ahead to potential risks in the coming year, O-Bank identifies challenges stemming from the global economic environment and geopolitical risks. Responding to inquiries about next year’s profit outlook and dividend payments, the bank emphasized that dividend policy will be based on business needs, capital requirements, and economic conditions. While expressing a cautiously optimistic stance, the bank stated that a comprehensive assessment would be conducted based on the year’s overall profit situation.

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