Taiwan Financial Holding Co. Ltd.'s consolidated net income for the first quarter surged to NT$12.18 billion from NT$2.69 billion a year ago.

The group said in a report released May 30 that net interest income increased year over year to NT$8.82 billion from NT$8.68 billion.

Bank of Taiwan, the group's banking unit, posted net profit of NT$2.18 billion, up from NT$2.06 billion in the first quarter of 2018. EPS inched up to 23 cents from 22 cents.

As of May 30, US$1 was equivalent to NT$31.59.