Despite a correction in the local stock market in July, strong capital market
activity this year still pushed the financial sector's profits much higher.

According to the Financial Supervisory Commission, the combined profits of
the banking, insurance and securities industries shot to $1 trillion NT in
the first seven months of the year.

That's an increase of 106-percent from a year earlier, and it also puts them
just around $57 billion short of the full-year record set in 2024, raising
expectations that profits could reach a new record this year.

The banking sector includes domestic and foreign banks operating in Taiwan,
credit cooperatives, bills finance companies, and postal savings and
remittance services.

The FSC said domestic banks alone posted cumulative profits of $424 billion
NT, up 20-percent compared with the same period last year.

With Taiwan's economy projected to rise by more than 11 percent this year,
the F-S-C expects the financial sector to continue growing.

(JL)