According to statistics, the profits of the three financial industries halved last year, hitting a nine-year low, mainly dragged down by losses in the insurance industry.

(Photo by reporter Wang Menglun)

[Reporter Wang Menglun/Report from Taipei] The 2022 annual profit figures for the three financial industries (banking, insurance and securities futures) are released!

According to the latest announcement of the Financial Supervisory Commission today, the profit of the three financial industries last year was only 479.83 billion yuan, a year-on-year decrease of 48.7% compared with the same period of the previous year, hitting a new low in 9 years!

Among them, the "banking industry" not only made a huge profit of 432.1 billion yuan, but also set a record high; but in contrast, the "insurance industry" (industrial and life insurance) was devastated, with a loss of 18.6 billion yuan for the whole year. ), the worst performance in 14 years.

First of all, from the perspective of "overall amount", the three financial industries performed very well in the previous year, with a pre-tax profit of 935.55 billion yuan, but last year it fell sharply, almost falling by half, leaving only 479.83 billion yuan. worst performance of the year.

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Secondly, among the profit report cards of the three financial industries, the biggest winner is the "banking industry". Last year's pre-tax profit was 432.1 billion yuan, an increase of 12.1% from the previous year's 385.61 billion yuan, and it also surpassed the 2019 profit of 407.1 billion yuan Yuan record, and won the best profit year in history in one fell swoop.

The so-called "banking industry" has 6 major industries, including: domestic banks (National Bank of China), foreign banks in Taiwan, China Mainland Bank in Taiwan, credit unions, ticket gold and postal savings.

China Bank is the main source of contribution to the overall banking industry. Taking last year as an example, it accounted for nearly 90%.

Why can the banking industry make a lot of money and set a new record in 2022?

Tong Zhengzhang, deputy director of the Banking Bureau, said that the banking industry mainly benefited from interest rate hikes and loan growth last year, resulting in an increase in net interest income.

Further inspection shows that the "banking industry" has three main sources of profit. The first is interest income as high as 605.35 billion yuan last year, an increase of 88.07 billion yuan from the previous year; the second is investment and other income, which earned 124.95 billion yuan, an increase of 8.85 billion yuan 3. Due to fluctuations in the capital market and the impact of customers waiting to see the service fee, the service fee income was only 185.86 billion yuan, a decrease of 13.75 billion yuan compared with the previous year.

Furthermore, the "securities and futures industry" had a pre-tax profit of only 66.333 billion yuan last year, a full decrease of 72.508 billion yuan from the previous year's 138.841 billion yuan, an annual decrease of 52.22%.

Gao Jingping, deputy director of the Securities and Futures Bureau, explained that affected by interest rate hikes, international politics and economics, inflation and war last year, the annual trading volume of Taiwan stocks was 41.40 trillion yuan, a year-on-year decrease of 35.63%, which caused a 52.091 billion yuan drop in brokerage business revenue , an annual decrease of 37.46%; self-operated and underwriting income also decreased by 40.295 billion yuan.

The third is the "insurance industry". According to the statistics of the Insurance Bureau, the total life insurance industry not only failed to make money last year, but also lost 18.6 billion yuan, mainly due to the drag of the property insurance industry. After a total loss of 126.6 billion yuan for life insurance that year, it was the worst performance in a year.

Why is the "insurance industry" losing so badly?

It is mainly due to the disastrous loss of the epidemic prevention insurance of the property insurance industry, which led to a large pre-tax loss of 190.5 billion yuan, the worst record in history; in particular, the life insurance industry was also affected by financial market shocks, and its pre-tax profit last year was only 171.9 billion yuan , with an annual decline of 55.8%.

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