Catalyzed by more than 90% revenue contribution from the subsidiary Hua Nan Bank, Hua Nan Financial Holdings Co.’s (2880-TW) FY18 earnings hit a new high. The company announced today on May 22nd that it will continue to raise salary with an average increase of 3.2%. In addition, since Hua Nan Bank’s 1Q19 revenue/earnings is better than expectation, Hua Nan Financial Holdings Co.’s FY19 revenue/earnings is expected to higher YoY. The employee’s salary is expected to set a new high as well.
The company told that due to the salary adjustment of 3% to comply with government policy and the bank's routine salary adjustment, the salary increased by 6% in total. Moreover, since Hua Nan Bank’s FY18 profit not only hit a new record high, but also achieve the targets, the average bonus for employees is 4.43 months. The average salary of employees is NTD1.619mn. Among them, the average salary of supervisors is NTD2.649mn and the average salary of non-supervisors is NTD1.387mn.