Reported 12 months ago
According to the Financial Supervisory Commission, the three financial industries (banking, securities and futures, and insurance) collectively earned a pre-tax profit of NT$483.9 billion in the first five months of 2024, reaching a new historical high for the same period. This marked a 93.5% year-on-year increase and nearly 70% of the profits for the entire year of 2023. With the peak profit performances achieved by these industries in 2021, 2023, and now in the first five months of 2024, it is anticipated that they will continue their profitable streak for the whole year. Factors driving these record profits include heightened interest income and SWAP investment gains in the banking sector, a depreciating New Taiwan Dollar benefiting the insurance industry, and a booming stock market benefiting the securities and futures sector. The Financial Commission expects the financial industries to continue their strong performances for the rest of the year.
Source: YAHOO