Taishin Financial has announced a substantial increase in its April profits, signaling robust financial health amid dynamic market conditions. The company reported an after-tax net profit of NT$1.70 billion for the month, marking an annual increase of 91%. Over the first four months of the year, the net profit after tax reached NT$6.71 billion, growing by 12.6% compared to the same period last year. This consistent growth underscores Taishin’s ongoing profitability and operational efficiency.
In a recent online legal meeting, Taishin highlighted plans to enhance shareholder returns by increasing the cash dividend distribution ratio from 55% to 60%, utilizing the previous year’s profits. This decision reflects a strategic move to meet investor expectations while ensuring the company’s financial stability and competitive edge in dividend offerings.
The financial holding’s main subsidiary, Taishin Bank, contributed significantly with a NT$1.37 billion profit in April, up 20.2% year-over-year, and a total of NT$5.79 billion from January to April, a 6.6% increase. Taishin Bank has maintained a stable asset quality, as evidenced by a non-performing loan ratio of 0.11% and a bad debt coverage ratio of 1216.93%.
Taishin Securities also showed remarkable growth, with a 7650% increase in its April profits to NT$310 million, driven by higher brokerage fees due to increased stock market activity. The cumulative profit for the first four months was NT$950 million, up 120.9% year-over-year.
Additionally, Taishin Life Insurance experienced a significant profit boost, reporting a net profit of NT$150 million in April, more than doubling from last year, primarily due to gains in stock capital and favorable currency exchange movements. Its year-to-date net profits surged to NT$970 million, a dramatic increase of 977.8%, further highlighting the subsidiary’s strong performance this fiscal year.
