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Cathay Financial’s H1 unaudited net profit down 22%

Jul. 10, 2012 (China Knowledge) - Taiwan-listed Cathay Financial Holding Co, the island's biggest financial conglomerate by assets, said yesterday that its unaudited net profit fell 22% YoY to NT$5.17 billion in the first half of this year.

The company said the decline in net profit was due to a loss of NT$1.56 billion recorded in its life insurance units.

Cathay United Bank, Cathay Financial’s banking unit, realized RMB 6.65 billion in net profit in the first six months.

Chinatrust Financial Holding Co, the island's largest credit card issuer, said yesterday that its unaudited net profit dropped 2.8% from the same period of last year to NT$10.84 billion in H1.

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