However, the lender’s common equity tier 1 ratio and tier 1 capital ratio remained higher than the industry average, the data showed. CTBC Financial posted net income of NT$19.17 billion for the first six months of the year, down 6 percent year-on-year from NT$20.39 billion. Tax payments on undistributed earnings also eroded their net income at Cathay Financial Holding Co (國泰金控) and Fubon Financial Holding Co (富邦金控) last month. Cathay Financial posted net income of NT$5.94 billion for last month. Fubon Financial paid NT$2.6 billion in taxes and posted net income of NT$3.03 billion for last month.

Source: Taipei Times July 10, 2020 15:56 UTC