KGI Financial Holding Co (2883) Q3 2024 earnings summary

Executive summary

• Net income for the first nine months of 2024 reached NT$29.14 billion, up 66% year-over-year, with EPS at NT$1.71 and ROAE at 13.7%.

• Total assets grew to NT$3.94 trillion, and equity attributable to owners increased to NT$306 billion.

• All major subsidiaries, including Life Insurance, Securities, and Banking, delivered strong profit and revenue growth.

• Total comprehensive income for the period was NT$51.98 billion.

Financial highlights

• Consolidated net revenue rose 37% year-over-year to NT$51.92 billion for the first nine months.

• Income before tax increased 75% to NT$35.4 billion.

• KGI Life net income jumped 78% to NT$20.1 billion, KGI Bank net income rose 2% to NT$4.3 billion, and KGI Securities net income climbed 51% to NT$8.1 billion.

• CDIB Capital net income was NT$587 million, with AUM up 26% to NT$54.6 billion.

• Total equity attributable to owners as of September 30, 2024 was NT$305.98 billion.

Outlook and guidance

• Cautiously optimistic outlook for 2025, expecting economic growth and stock market opportunities despite inflation and policy uncertainties.

• Dividend policy aims for long-term stability and potential growth, subject to regulatory approval and subsidiary upstreaming.

• Strategic focus on expanding private assets, strengthening insurance profitability, accelerating group growth, and maximizing business synergies.

• Continued emphasis on sustainable growth, digital transformation, and ESG leadership.

• Auditor’s review confirmed fair presentation of financial statements.