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State-run Chang Hwa Commercial Bank (CHB, 彰化銀行) yesterday said it remains positive about profitability enhancements this year due to interest rate hikes, even though economic uncertainty is building. The bank’s interest spread increased 4 basis points in the first quarter, while its net interest margin added 5 basis points, enabling its net income to grow 22.16 percent year-on-year to NT$2.38 billion, CHB said. The benefits of interest rate hikes would become more evident this quarter after the US Federal Reserve increased interest rates for a second time by 0.75 percentage points earlier this month and Taiwan’s central bank raised it rates by ....
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