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Banks' combined pretax profits grow 76%


Banks’ combined pretax profits grow 76%
By Kao Shih-ching / Staff reporter
Local banks’ combined profit grew in March, for the first time since May last year, thanks to an increase in investment gains and interest income, data released by the Financial Supervisory Commission on Thursday showed.
The banks’ combined pretax profits grew 76 percent year-on-year to NT$32 billion (US$1.15 billion) in March, ending 10 consecutive months of annual declines, the data showed.
Banks recorded an annual increase of NT$14.25 billion in combined investment gains as financial markets boomed, while their net interest income rose by NT$1.4 billion, the data showed.
A Financial Supervisory Commission sign is pictured in an undated photograph in New Taipei City. The commission reported on Thursday that local banks’ combined pretax profits grew 76 percent year-on-year to NT$32 billion (US$1.15 billion) in March, ending 10 consecutive months of annual declines. ....

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Taiwan Business Quick Take - Taipei Times


Taiwan Business Quick Take
TAIEX up 0.37 percent
The TAIEX yesterday closed higher, but came off an earlier high as investors locked in profits ahead of stiff technical resistance at about 16,000 points. Large-cap semiconductor stocks saw more obvious profit-taking during the session, while buying continued to rotate to the old economy and financial sectors to give the broader market a boost, dealers said. The TAIEX closed up 58.58 points, or 0.37 percent, at 15,911.67, on turnover of NT$260.011 billion (US$9.18 billion). Despite the gains in the TAIEX, foreign institutional investors sold a net NT$3.82 billion of shares, Taiwan Stock Exchange data showed.
SEMICONDUCTORS
TSMC posts February record ....

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