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Mega Financial Q2 net profit up 1.3% YOY

Mega Financial Holding Co. Ltd. posted a net profit for the second quarter ended June 30 of NT$7.72 billion, up 1.30% from NT$7.62 billion in the year-ago period. EPS inched up to 57 cents from 56 cents, according to an Aug. 27 report.

Net interest income slid to NT$9.05 billion from NT$9.77 billion a year earlier, net fee and commission revenue dipped to NT$2.31 billion from NT$2.53 billion, while insurance premium dropped to NT$441.2 million from NT$465.2 million.

The group's second-quarter gain from financial assets at fair value rose to NT$2.93 billion from NT$1.28 billion in the year-ago period.

The group's banking unit Mega International Commercial Bank Co. Ltd. reported a net profit of NT$13.35 billion for the first half, down from NT$13.77 billion in the year-ago period. EPS for the period dipped to NT$1.56 from NT$1.61. No figures were available for the second quarter alone.

The unit's net interest income dipped to NT$17.36 billion from NT$17.86 billion. Asset impairment losses rose to NT$701.8 million from NT$613.7 million.

The bank posted a nonperforming loan ratio of 0.17% at end-June, up slightly from 0.16% a year ago. Its common equity and Tier 1 capital ratios each rose to 12.01% from 11.99%. The capital adequacy ratio was maintained at 13.29% year over year.

As of Aug. 27, US$1 was equivalent to NT$31.41.