Taipei’s Fubon Bank reports record-high Q1 profits

Credit card issuance also saw a surge.

Fubon Bank’s preliminary net profits for reached NT$6.91b (US$230m) for the first three months of 2023.

On a year-on-year (YoY) basis, profits surged 60% excluding the bargain purchase gain in 2022.

ALSO READ: Fubon Bank, blockchain firm Ripple to explore real estate asset tokenisation in Hong Kong

Driven by the upward trajectory of wealth management and the credit card business, net fee income reached NT$3.43b (US$110m), up 17.4% from the previous year.

Whilst the new credit card issuance segment went up 380% YoY.

(NT$1.00 = US$0.033)

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