Taiwan Cooperative income soarsBy Crystal Hsu / Staff reporterTaiwan Cooperative Financial Holding Co’s (合庫金控) net income grew 12.42 percent to NT$5.03 billion (US$163.29 million) last quarter, as global capital markets regained some stability, favorable for financial operations and investment dealings to drive profit growth, the state-run bank said yesterday. People stand outside Taiwan Cooperative Financial Holding Co’s headquarters in Taipei’s Songshan District on April 24. Photo: Chen Mei-ying, Taipei TimesMain subsidiary Taiwan Cooperative Bank (合作金庫銀行) generated NT$44.57 billion, accounting for 90.14 percent of overall profit and offsetting Taiwan Cooperative Bills Finance Corp’s (合作金庫票?金融) losses of NT$59 million linked to higher provision costs, Chen said. Net interest income at Taiwan Cooperative Bank shrank 2.23 percent to NT$85.39 billion, while fee income declined 2.27 percent to NT$15.92 billion, company data showed. Taiwan Cooperative Bank expects to expand its mortgage business this year by targeting customers with real demand, they said.
