trending Market Intelligence /marketintelligence/en/news-insights/trending/rirhflu1kijczozljczutg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Cathay Financial posts YOY decline in Q4'17 net income

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

Cathay Financial posts YOY decline in Q4'17 net income

Taiwan-based Cathay Financial Holding Co. Ltd. reported a year-over-year decline in net income for the fourth quarter.

Net income for the quarter ended Dec. 31, 2017, slipped to NT$8.41 billion, or 66 cents per share, from NT$8.79 billion, or 71 cents per share, in the prior-year period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 73 cents, with four analysts reporting.

Net interest income for the fourth quarter increased to NT$43.48 billion from NT$39.39 billion. The company posted a loss of NT$607 million in net commissions and fees for the quarter, compared to a loss of NT$3.06 billion in the prior-year period.

The company's net earned premium increased to NT$173.93 billion from NT$167.72 billion, while investment income more than doubled to NT$12.09 billion from NT$5.10 billion a year ago.

For the full year ended Dec. 31, 2017, Cathay Financial reported a year-over-year gain in net income to NT$56.67 billion, or NT$4.47 per share, from NT$48.04 billion, or NT$3.79 per share for 2016.

Net interest income for the year rose to NT$168.46 billion from NT$153.48 billion in 2016, while net earned premium ticked up slightly to NT$624.62 billion from NT$622.92 billion.

The Taiwanese company's bad debt expenses for the year dropped to NT$3.46 billion from NT$5.23 billion in 2016.

The company's capital adequacy ratio as of Dec. 31, 2017, clocked in at 141%, down from 146% a year earlier.

Unit Cathay Life Insurance Co. Ltd.'s fourth-quarter net income rose year over year to NT$5.32 billion from NT$4.87 billion in the prior-year quarter.

The insurer's net earned premium rose to NT$169.01 billion from NT$163.05 billion in the prior-year quarter. Cathay Life's fee income for the quarter climbed to NT$2.56 billion from NT$1.45 billion.

For the full year ended Dec. 31, 2017, the insurer reported a year-over-year increase in net income to NT$36.27 billion from NT$30.24 billion.

Cathay Life's risk-based capital ratio at the end of 2017 came in at 309%, up from 305%.

As of March 21, US$1 was equivalent to NT$29.18.