Fubon Financial Holding Co., Ltd.
Company Background
Fubon is a major Taiwanese financial services company which offers banking, insurance and brokerage products. It started out as a property insurance company in 1961 under the Cathay group, the financial business leviathan controlled by brothers Tsai Wan-lin and Tsai Wan-chun.
Later Tsai Wan-tsai, younger brother to Wan-lin and Wan-chun took control of the property insurance company in 1979 and gradually developed it into his own empire, known today as Fubon. The company was listed as a financial holding company in 2001.
Like Cathay Financial Holding, Fubon makes most of its profits on life insurance. In recent years it has been expanding in the region, particularly in China. Fubon also controls Taiwan Mobile, a major Taiwanese wireless carrier.
Fubon is currently managed by Chairman Daniel Tsai and Vice Chairman Richard Tsai, sons to Wan-tsai and cousins to Cathay Financial Holding Chairman Tsai Hong-tu. Daniel has a master's degree in law from Georgetown University, and Richard has a Master of Business Administration from New York University.
The Tsais are widely recognized as one of the richest families in Taiwan.
Business Summary
Financial Highlights
| Dec 2022 | TWD | USD |
| Revenue | 612,249.03M | 20,536.33M |
| Gross Profit | -- | -- |
| Operating income | -338,996.90M | -11,370.78M |
| Income before tax | 58,949.32M | 1,977.30M |
| Net income | 46,925.62M | 1,574.00M |
| EBITDA | -- | -- |
| Diluted EPS | 3.54 | 0.11 |
| Dividends Per Share | -- | -- |
| Total Assets | 10,564.79B | 343,732.66M |
| Total liabilities | 9,991.18B | 325,069.90M |
| Total equity | 565,690.55M | 18,405.12M |
| Operating cash flow | 202,499.36M | 6,792.32M |
| Currency in TWD | Currency in USD |
Historical Data
| Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
| Revenue | 733,113.18M | 914,592.42M | 960,307.13M | 879,847.49M | 612,249.03M |
| Gross Profit | -- | -- | -- | -- | -- |
| Operating income | -53,466.97M | 230,865.77M | 293,502.33M | 278,563.42M | -338,996.90M |
| Income before tax | 55,853.77M | 65,138.97M | 102,320.04M | 164,009.43M | 58,949.32M |
| Net income | 47,728.85M | 58,497.25M | 90,272.44M | 144,559.04M | 46,925.62M |
| EBITDA | -- | -- | -- | -- | -- |
| Diluted EPS | 3.88 | 4.68 | 7.33 | 11.89 | 3.54 |
| Dividends Per Share | 1.71 | 1.71 | 2.57 | 3.33 | -- |
| Total Assets | 7,701.49B | 8,532.50B | 9,227.81B | 10,480.50B | 10,564.79B |
| Total liabilities | 7,232.66B | 7,912.81B | 8,451.03B | 9,496.66B | 9,991.18B |
| Total equity | 459,243.35M | 607,774.10M | 762,868.90M | 949,569.30M | 565,690.55M |
| Operating cash flow | -12,826.59M | 220,148.81M | 18,367.16M | 14,765.80M | 202,499.36M |
| Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
| Revenue | 24,311.92M | 29,586.29M | 32,614.12M | 31,499.77M | 20,536.33M |
| Gross Profit | -- | -- | -- | -- | -- |
| Operating income | -1,773.10M | 7,468.31M | 9,967.97M | 9,972.96M | -11,370.78M |
| Income before tax | 1,852.25M | 2,107.19M | 3,475.01M | 5,871.76M | 1,977.30M |
| Net income | 1,582.81M | 1,892.33M | 3,065.84M | 5,175.41M | 1,574.00M |
| EBITDA | -- | -- | -- | -- | -- |
| Diluted EPS | 0.12 | 0.15 | 0.24 | 0.42 | 0.11 |
| Dividends Per Share | 0.05 | 0.05 | 0.08 | 0.11 | -- |
| Total Assets | 250,560.94M | 284,635.05M | 328,415.39M | 378,808.91M | 343,732.66M |
| Total liabilities | 235,308.12M | 263,962.99M | 300,769.90M | 343,248.77M | 325,069.90M |
| Total equity | 14,941.06M | 20,274.68M | 27,150.29M | 34,321.37M | 18,405.12M |
| Operating cash flow | -425.36M | 7,121.62M | 623.78M | 528.63M | 6,792.32M |
Valuation Measures
| Dec 2022 | |
| PER | 15.89 |
| ROA | 0.44% |
| ROE | 6.19% |
| Operating margin | -55.36% |
| Profit margin | 7.66% |
Key executives
- President, General Manager & Director: Yue Ting Han
- Head-Finance & Deputy General Manager: Yan Sung Chen
- Director & Chief Investment Officer: Fu Hsing Lin
- Deputy General Manager: Li Peng Chang
- Senior Associate: Chia Hui Wang
Shareholders
- City of Taipei (Taiwan) (13.0%)
- Ming Dong Co. Ltd. (8.3%)
- Dao Ying Co. Ltd. (7.6%)
- TSAI MING CHUNG (3.7%)
- TSAI MING HSING RICHARD (3.1%)
- Hung Fu Investment Co. Ltd. (2.5%)
- Labor Pension New Fund (2.2%)
- The Vanguard Group, Inc. (1.9%)
- BlackRock Fund Advisors (1.4%)
- Chung Shing Development Co. Ltd. (1.4%)
Contact Details
- Website:http://www.fubon.com
- Address: 15-16F, No. 179, Liaoning Street, Taipei, 104105, Taiwan
- Phone: +886.2.66366636
Related Companies
- Fubon Direct Marketing Consulting Co., Ltd.
- Fubon Realtors Co., Ltd.
- Fubon Financial Holding Co. Ltd. /Custody/
- Zhong Xi Co. Ltd.
- Fubang Securities Co. Ltd.
- Fubon Property Insurance Co. Ltd.
- Fubon Property & Casualty Insurance Co., Ltd.
- Taiwan Sports Lottery Co., Ltd.
- Fubon Direct Marketing Co. Ltd.
- Fubon USA, Inc.
- Fubon Product Insurance Co. Ltd.
- Fubon Life Insurance Co., Ltd.
- Fuji Management Consulting Co. Ltd.
- Fuh HUA Real Estate Management Co. Ltd.
- Fubon Financial Venture Capital Co. Ltd.
- Taipei Fubon Commercial Bank Co., Ltd.
- Taipei Bank Co. Ltd.
- Fubon Securities Co. Ltd.
- Fubon Bank (Hong Kong) Ltd.
- Fubon Insurance Co., Ltd.
Competitors
- Yuanta Futures Co., Ltd.
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