Taiwan Business Bank NPBT grows over 65% January-July
By Kathryn Chiu, The China Post
August 19, 2014, 12:05 am TWN
TAIPEI, Taiwan -- Taiwan Business Bank (台灣企銀) recently reported NT$4.59 billion net profit before tax (NPBT) during the period year to July 31, a 65.55-percent growth from the same time in 2013.
In a financial statement, Taiwan Business Bank posted NT$657.33 million of NPBT in July, or NT$484.09 million when a provision expense of NT$173.24 million was recorded.
The NPBT of Taiwan Business Bank saw NT$4.59 billion in the first seven months of this year, an annual increase of 65.55 percent, or NT$3.05 billion when a provision expense of NT$1.54 billion was listed.
A financial institution, such as a bank, hedge fund or insurance firm, records a provision expense in accounting ledgers when the institution believes it may not recover loan amounts from a borrower.
Earnings before tax for the first seven months of Taiwan Business Bank were NT$0.6 per share. The net asset value of the bank for the same period was NT$11.85.
Taiwan Business Bank can trace its roots to 1915, when two private savings organizations were established and later evolved into a leading provider of financial investment services for small- and medium-sized businesses, trust and securities brokerages, and international banking services.
The bank became a private bank in 1998 in light of the government's privatization of state-owned enterprises.