Mega, First aiming for stable earnings growthFOCUS: Mega Financial said that rate hikes would allow it to pursue better asset returns, while First Financial said that it would work on deepening customer relationshipsBy Crystal Hsu / Staff reporterState-run Mega Financial Holding Co (兆豐金控) and First Financial Holding Co (第一金控) yesterday said that they are aiming for stable profit growth this year, despite lingering uncertainties. Mega Financial said that the operating environment would turn favorable for financial institutions this year after major central banks worldwide disclosed plans to raise interest rates, which would widen interest spreads and profit margins. Mega Financial chairman Michael Chang (張兆順) urged his colleagues to meet the growth challenges by embracing change. Mega Bank president Robert Tsai (蔡永義) said that the Fed could raise interest rates three to five times this year, which would benefit the Taiwanese lender’s operations. First Financial Holding said that it is seeking to bolster its operating resiliency and raise profit contributions from non-bank subsidiaries.

Source: Taipei Times February 07, 2022 22:09 UTC