Fubon Financial Holding Co. (2881-TW) held an investors conference today on May 27th. The company’s subsidiary Fubon Life increased its fixed-income assets in 1Q19. In addition, the company also invested in Taiwan stocks for NTD2.51bn in 1Q19. The total investment has achieved NTD345.1bn, which accounted for 9.1% of total assets. There is more than NTD30bn for the company to make investmemts, targeting total investment of 10% in its total asset. Fubon Financial Holding Co. general manager Jerry Harn told that the company will continue to invest in Taiwan stocks, foreign bonds, etc.
Fubon Financial Holding Co.'s 1Q19 net profit was NTD12.5bn with EPS of NTD1.22. Due to Fubon Life’s 1Q19 earnings decrease of more than 60%, Fubon Financial Holding Co.'s 1Q19 earnings fell by 24%.
However, the company’s subsidiary Taipei Fubon Bank’s 1Q19 earnings increased by 21.9% YoY and became the main growth driver. The company’s bank subsidiaries, Taipei Fubon Bank, Fubon Bank (Hong Kong) and Fubon Bank (China), contributed for nearly 59.2% of its total earnings.