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Fubon Financial sees FY'18 net income slide 11.8% YOY

Taiwan's Fubon Financial Holding Co. Ltd. saw its full-year 2018 net income attributable to the parent company decline 11.8% year over year to NT$47.73 billion from NT$54.12 billion.

Net interest income increased to NT$129.95 billion from NT$113.21 billion, while insurance income dropped to NT$235.83 billion from NT$250.97 billion.

Net revenue was NT$410.93 billion, up from NT$406.15 billion a year ago.

For the 2018 fourth quarter, Fubon Financial reported a net loss attributable to the parent company of NT$2.59 billion.

Unit Fubon Life Insurance Co. Ltd. recorded a 23.3% year-over-year decrease in net income attributable to parent of NT$24.93 billion versus NT$32.49 billion for 2017.

The unit's first-year premium rose 9.1% to NT$190.38 billion from NT$174.46 billion, while retained earned premium grew to NT$504.82 billion from NT$479.89 billion.

For the fourth quarter, Fubon Life too reported a loss of NT$6.31 billion.

As of March 21, US$1 was equivalent to NT$30.85.