Taiwan's Cathay Fin posts T$10.01 bln profit in Q1
TAIPEI, April 10 (Reuters) - Cathay Financial (2882.TW), Taiwan's top financial holding firm, posted a return to the black in the first quarter, as the island's banking industry recovers from a consumer debt crisis.
Cathay Financial Holding Co. Ltd., whose insurance arm is Taiwan's biggest insurer, on Tuesday posted a net profit of T$10.01 billion ($303 million) in the first quarter, beating the T$7.3 billion median forecast of five analysts surveyed by Reuters.
The latest result marked a sharp recovery from a T$2.2 billion loss in the fourth quarter, and was up from a T$7.8 billion net profit in the first quarter of 2006.
(US$1=T$33)
((Reporting by Faith Hung, Editing by Doug Young; Reuters Messaging: faith.hung.reuters.com@reuters.net; +886 2 2508-0815)) Keywords: CATHAYFIN RESULT/
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