Huanan Financial made a huge profit of 28.456 billion yuan in October, exceeding last year's full profit

Huanan Financial made a huge profit of 28.456 billion yuan in October. (File photo)

[Reporter Chen Meiying/Taipei Report] South China Financial Holdings (2880) announced today its self-reported profit. The after-tax profit for the first ten months was 28.456 billion yuan, an annual increase of 26.85%, which has exceeded last year's full year. The after-tax earnings per share (EPS) was 2.02 yuan, and the annualized return on equity (ROE) was 13.76%. The cumulative profit, EPS and ROE all hit new highs for the same period in previous years.

Huanan Jin said that in addition to the steady growth of bank profits, the profits of non-bank subsidiaries in the first ten months increased by 131% year-on-year, and their contribution accounted for 22%, becoming an important driving force for the group's profit growth.

South China Bank's after-tax profit in October was 2.091 billion yuan, and the after-tax profit in the first ten months was 23.077 billion yuan, an annual increase of 11.21%. This was mainly due to the growth of deposits, wealth management business, and the injection of financial operation income. The three core incomes increased simultaneously. Among them, wealth management business income increased by 31% year-on-year, overall net fee income increased by 28% year-on-year, and profits from overseas branches and OBUs increased by 32% year-on-year.

Among the non-bank subsidiaries, South China Yongchang Securities performed well, with an after-tax surplus of 4.361 billion yuan in the first ten months, an increase of 163% year-on-year, and re-entrusted transaction volume reaching 291.161 billion yuan, an increase of more than 100% year-on-year. South China Property & Casualty Insurance's after-tax surplus in the first ten months was 1.745 billion yuan, an increase of 24% year-on-year, mainly due to the optimization of the commercial fire insurance and engineering insurance business structure and the increase in underwriting profits.

In addition, venture capital subsidiaries made a profit of 273 million yuan in the first ten months, a record high for the same period in previous years. The profits of asset management and investment credit subsidiaries also increased compared with the same period last year.