TAIPEI, Taiwan, January 7, 2021-CTBC Holding has announced its preliminary earnings for December 2021.
The Company posted a pre-tax profit of NT$1.7 billion and an after-tax profit of NT$2.3 billion for the month. On a cumulative basis, the Company's pre-tax profit was NT$62.0 billion, after-tax profit was NT$54.2 billion, and after-tax EPS was NT$2.73.
For the month, the Company continued to observe stable momentum in its core banking and life insurance businesses. Taiwan Life made an additional foreign exchange valuation reserve of NT$1 billion to withstand potential FX fluctuations in the future.
The Company maintained a robust operating performance throughout 2021, posting record after-tax profit for the year and exceeding NT$7 trillion in total assets for the first time.
Year to December, CTBC Bank reported after-tax profit of NT$29.8 billion, up 9% YoY, on the back of favorable momentum in areas including loans, deposits, and wealth management fees. In particular, the Bank's customer-oriented approach aided it in maintaining its leading position in the wealth management market, while also benefitting from diversified product offerings. In addition, its strategy of expansion and penetrating new customer bases has led to continuous growth in credit card consumption. Meanwhile, Taiwan Life reported after-tax profit of NT$23.1 billion, up 40% YoY, thanks to decent investment income.
The asset quality of CTBC Bank remained stable and the provision charge was NT$1.5 billion in December.
The earnings of our key subsidiaries were as follows:
Unit: NT$ million
Subsidiary
December 2021
December 2021 (YTD)
Pre-tax profit
After-tax profit
Pre-tax profit
After-tax profit
Bank
2,373
2,838
34,973
29,796
Insurance
-316
-202
24,943
23,131
Securities
62
41
1,556
1,372
CTBC Holding
1,686
2,313
62,044
54,205
(consolidated basis)
About CTBC Holding
CTBC Holding (TPE: 2891) was established in 2002, having grown out of CTBC Bank, which has been helping build customers' personal wealth and Taiwan's economy since 1966. Headquartered in Taipei, its subsidiaries specialize in diverse services including banking, securities, insurance, venture capital and asset management.
With a global team of over 27,000 people, CTBC Holding operates 268 locations in 14 markets, including the U.S., Canada, Japan, China, Hong Kong, Singapore, India, Indonesia, Malaysia, Vietnam,
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CTBC Financial Holding Co., Ltd.
Thailand, Myanmar, the Philippines and Australia. It is also a Taiwan industry leader in corporate and environmental sustainability, consistently being an early adopter of emerging international standards and best practices.
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CTBC Financial Holding Co., Ltd.
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CTBC Financial Holding Co. Ltd. published this content on 07 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2022 09:17:05 UTC.
CTBC FINANCIAL HOLDING CO., LTD. is a Taiwan-based financial holding company. The Company is principally engaged in investment banking business, bills finance business, credit card business, trust business, insurance business, securities business, futures business, venture capital business, securities investment trust business, foreign financial institution investment business and other financial related businesses. The Company operates its businesses in domestic market and overseas markets.
CTBC FINANCIAL HOLDING CO., LTD. 
