Fubon Financial Holdings reported a record-breaking profit of NT$7.86 billion (US$245 million) for September, solidifying its position as the top performer among Taiwanese financial holding companies. The firm’s cumulative after-tax profit for the first nine months of the year soared to NT$121.19 billion (US$3.78 billion), marking the highest nine-month profit in its history.
The company’s impressive performance was driven by strong results across its subsidiaries. Taipei Fubon Bank and Fubon Securities both posted record profits for the period, while Fubon Life’s earnings, although not a record, still ranked as the third-highest in its history.
Fubon Life, the group’s insurance arm, saw its after-tax profit jump 81% year-on-year to NT$77.95 billion (US$2.43 billion). This growth was primarily attributed to gains from the disposal of domestic and foreign stocks and funds, as well as interest and dividend income.
The company capitalized on market opportunities, including the Federal Reserve’s interest rate cut in September, which boosted stock markets and allowed Fubon to realize capital gains. Additionally, the firm increased its bond positions to enhance recurring income.
Despite currency fluctuations affecting its foreign exchange positions, Fubon Life’s basket currency strategy helped mitigate potential losses. The insurer’s total premium income rose 10% to NT$261.1 billion (US$8.15 billion), securing its position as the second-largest player in the industry.
