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Taiwan Financial Holding posts 15.1% YOY increase in Q2 profit

Taiwan Financial Holding Co. Ltd.'s consolidated net income for the second quarter rose 15.1% year over year to NT$6.83 billion from NT$5.94 billion.

Net interest income grew to NT$9.19 billion from NT$8.81 billion, while net fee and commission income rose to NT$1.11 billion from NT$959 million. The group reported a net insurance loss of NT$1.51 billion, compared to a net insurance income of NT$2.99 billion in the same period of 2017.

The group's banking unit Bank of Taiwan reported NT$2.03 billion in second-quarter net profit, compared to NT$2.04 billion in the year-ago quarter. EPS fell to 21 cents from 22 cents.

For the first half, the group's consolidated net income increased to NT$9.53 billion from NT$9.22 billion. Bank of Taiwan's net profit amounted to NT$4.01 billion in the first six months, down from NT$4.33 billion in the same period of 2017.

As of Aug. 31, US$1 was equivalent to NT$30.72.