Mega Financial seeks to hike earningsIMPROVING MARKET: Overseas banking has gained momentum as vaccination rates improve, with operations in Australia soaring 175 percent since January, the bank saidBy Crystal Hsu / Staff reporterState-run Mega Financial Holding Co (兆豐金控) aims to reach profitability for the rest of year by boosting corporate lending, retail banking and overseas operations, company officials told an online investors’ conference yesterday. Photo courtesy of Mega Bank“The macro-environment has improved as the world becomes better equipped in dealing with the [COVID-19] pandemic,” Mega Financial president David Hu (胡光華) said, referring to vaccine rollouts worldwide. Mega Financial said it saw an opportunity to deepen lending with local semiconductor and petrochemical firms that have announced plans to invest in the US and elsewhere. The government’s promotion of renewable energy sources and a global embrace of 5G technologies would also generate loan demand, Mega Financial said. Shares in Mega Financial ended down 0.62 percent to NT$32.3 yesterday, bucking the TAIEX’s 0.2 percent rise, Taiwan Stock Exchange data showed.

Source: Taipei Times September 09, 2021 15:56 UTC