Reported about 1 year ago
On June 30, 2024, the Taiwan and US stock markets hit record highs, with the financial industry's pre-tax profits for the first five months reaching NT$483.9 billion, an all-time high for the same period. Banks, securities, and insurance companies all outperformed the same period last year, showing a 93% year-on-year increase of NT$233.9 billion. With the stock market continuously rising in June and the dividend distribution season approaching, it is expected that the financial industry's profits will continue to rise. Banks and life insurance companies were the key profit drivers in the first five months, contributing 51% and 36% respectively, with insurance making a significant comeback as a profit contributor this year. Bank profits for the first five months reached NT$248.1 billion, a 12% increase year-on-year, while insurance profits surged to NT$176.5 billion, a substantial increase from last year's losses of NT$7.3 billion. Property insurance companies also saw a significant recovery in profits, with underwriting profits increasing by NT$25.6 billion in the first five months.
Source: YAHOO