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Q1 2020 Fubon Financial Holding Co Ltd Earnings Call Transcript
Thank you for standing by, and welcome to Fubon Financial's First Quarter of 2020 Financial Results. (Operator Instructions) This call is being recorded. If you have any objections, you may disconnect at this point.
Now I will turn the meeting over to your host, Ms. Amanda Wang, IR Officer of Fubon Financial Holdings. You may begin.
Thank you. Hello, everyone. Welcome to join Fubon Financial's investor conference call today. And in this call, we will show with you our first quarter '20 results and followed by the embedded value of the Fubon Life 2019.
So firstly, let's turn to Page 4 of the presentation. In this quarter, Fubon reported TWD 23 billion of net profit, and that is over 80% growth compared to previous year's first quarter mainly driven by very strong investment income from Fubon Life.
One of the main subsidiaries of the holding company, you can see that Taipei Fubon Bank continued to deliver steady NIM and also from the fee growth, especially from wealth management, we
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