IBF Financial posts NT$977m profit for the third quarter

IBF Financial posts NT$977m profit for the third quarterBy Kao Shih-ching / Staff reporterIBF Financial Holdings Co (國票金控) yesterday posted net profit of NT$977 million (US$33.84 million) for last quarter, an annual gain of 26.5 percent amid rising corporate lending, green lending and commercial paper business. Its main profit engine, International Bills Finance Co (國際票券), reported that net profit rose 40 percent from a year earlier to NT$879 million, accounting for 90 percent of the financial conglomerate’s total earnings. IBF Financial Holdings Co chairman Wea Chi-lin, right, speaks at an investors’ conference in Taipei yesterday as Rakuten International Commercial Bank Co chairman Chien Ming-jen looks on. Overall, IBF Financial reported a net profit of NT$2.46 billion for the first nine months, up 16.09 percent from a year earlier, the fourth-fastest growth among the nation’s 15 financial conglomerates after Fubon Financial Holding Co (富邦金控), with an annual gain of 27.09 percent, Cathay Financial Holding Co (國泰金控) with 23.48 percent and Jih Sun Financial Holding Co (日盛金控) with 17.37 percent. IBF Financial would focus more on providing customized services to retain profit momentum, as it expects the US Federal Reserve to continue with its loose monetary policy no matter who wins its presidential election, IBF Financial chairman Wea Chi-lin (魏啟林) told investors.

November 05, 2020 15:56 UTC


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