Cathay Financial Soars to New Heights: A Record-Breaking 98.35 Billion Yuan in Just 8 Months, with Earnings Per Share Reaching an Impressive 6.44 Yuan
Cathay Financial Holdings Reports Record-Breaking August Profit
Cathay Financial Holdings (2882) announced its self-reported August profit, with a one-month net profit after tax reaching 5.26 billion yuan, a monthly decrease of 75% and an annual increase of 80%. The earnings per share (EPS) reached 6.44 yuan, making it the second-highest record in history during the same period.
Strong Core Business Momentum
Since the start of this year, the core business momentum of Cathay Financial’s subsidiaries has been strong, with outstanding profit performance. Cathay Life and Cathay Property & Casualty’s after-tax net profit have reached record levels.
Cathay Life’s Performance
Cathay Life’s net profit after tax in August was 1.22 billion yuan, and its cumulative net profit after tax was 66.31 billion yuan. The decrease in profit this month was mainly due to higher hedging costs in one month due to the appreciation of the Taiwan dollar.
Cathay Pacific Bank’s Performance
Cathay Pacific Bank’s net profit after tax in August was 3.46 billion yuan, and its cumulative net profit after tax was 27.54 billion yuan, an annual growth of 19%. Since the beginning of this year, benefiting from rising interest rates and strong lending momentum, and taking advantage of high interest rates to build foreign currency securities positions, cumulative net interest income has grown at double digits;
Cathay Property & Casualty’s Performance
Cathay Property & Casualty’s net profit after tax in August was 180 million yuan, and its cumulative net profit after tax was as high as 1.83 billion yuan in the same period.
Cathay Securities’ Performance
Cathay Securities’ after-tax net profit in August was 340 million yuan, and its cumulative after-tax net profit was 3.05 billion yuan, setting another record high in history, with an annual growth of 106%.
Cathay Investment Trust’s Performance
After the sharp fall of the financial markets in July, global stock markets experienced a strong rebound in early August. At the end of the month, US Federal Reserve Board of Governors Chairman Ball said that investor demand for bond investments had increased. Cathay Investment Trust’s after-tax net profit in August was 210 million yuan, and its cumulative net profit after tax continued to reach a new high of 1.56 billion yuan in the same period, with an annual growth of 35%.