Fubon Financial reported unaudited consolidated pre-tax profit of NT$1.86bn and net profit of NT$4.17bn in April, reflecting tax benefit NT$2.49bn from consolidated tax filing. Cumulative consolidated pre-tax profit was NT$53.54bn and cumulative consolidated net profit was NT$45.28bn, with EPS of NT$3.31. Specifically, Taipei Fubon Bank's April monthly and cumulative net profit both delivered a record high of same period. The performance of the main subsidiaries is as follows:
Fubon Life's April net loss was NT$2.41bn, mainly due to the impact of the US tariff policy, which caused significant fluctuations in the global financial markets. The US dollar depreciated by 3.51% against the New Taiwan dollar in April, resulting in exchange losses. The cumulative net profit for the first four months was NT$24.95bn. The main sources of investment income this month were interest income, capital gains on domestic and foreign equities and funds, fund dividend income, and stock dividend income. In the stock market, due to volatile global markets, Fubon Life realized some capital gains in Taiwan stock positions. The bond market continued to reflect the impact of US tariff policies, leading to range-bound treasury yields in April. Fubon Life has increased its bond position at the time of high interest rates to secure future recurring income, while maintaining sufficient liquidity to flexibly respond to subsequent market conditions. In the foreign exchange market, the US tariff policy caused funds to flow out of US dollar assets, leading to the depreciation of the US dollar against major currencies. Additionally, overseas investment redemptions from individuals and foreign exchange sales from exporters resulted in the US dollar depreciating by 3.51% against the New Taiwan dollar in April. Fubon Life has thus increased traditional hedging and proxy hedging to mitigate the impact of exchange rate fluctuations. Given the high uncertainty of US policy, Fubon Life will continue to monitor market conditions closely and dynamically adjust its hedging positions accordingly. Fubon Life's cumulative standalone first year premium (FYP) reached NT$44.5bn, up 21% YoY, and cumulative total premium (TP) reached NT$127.7bn, up 9% YoY. Both cumulative FYP and TP were estimated to rank the top 2 in the industry. Monthly FYP and TP were NT$9.4bn and NT$28.1bn, up 11% and 2% YoY, respectively. Both were also estimated to rank the top 2 in the industry. As Fubon Life continued to focus the product strategy on regular-paid policies, cumulative FYPE reached NT$21.7bn, up 26% YoY. Fubon Life's capital position remained decent, with equity to asset ratio around 10% and RBC ratio above 400% as of April. Fubon Life will continue to closely monitor exchange rates and market movement, assessing potential impacts to ensure stable solvency.
Taipei Fubon Bank's April net profit was NT$2.91bn, the highest in record for the same period. Cumulative net profit reached NT$13.03bn, up 22% YoY, hitting a historical high. The strong earnings growth for 4M25 was mainly driven by the 13% YoY increase in revenue. Net interest income rose 11% YoY, mainly benefiting from scale growth in deposits and loans as well as improving net interest margin. Meanwhile, fee income climbed 17% YoY thanks to the continued growth in wealth management, credit card and loan business momentum. Asset quality remained benign. NPL ratio and coverage ratio were at 0.13% and 1026%, respectively.
Fubon Insurance's April net profit was NT$0.44bn and cumulative net profit reached NT$2.06bn, up 29% YoY, reflecting the selection of business quality and risk control. In terms of business performance, direct written premium in April was NT$6.20bn, up 5% YoY. Notably, marine insurance was the best performer with a growth of 78% YoY, and auto insurance also outperformed the market. Cumulative written premium was NT$25.45bn, up 12% YoY. The market share in total direct written premium was 25.1%, continuing as the market leader.
Fubon Securities' April net profit was NT$0.31bn, and cumulative net profit was NT$1.98bn, down 36% YoY. This was mainly attributed to the sharp decline in stock markets after US President Donald Trump announced reciprocal tariffs on April 2nd. Taiex reached a new low for the year at 17,306.97 points on April 9th. Additionally, the average daily trading volume of the Taiwan stock markets dropped 13% YoY, which affected brokerage income and proprietary trading income.