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Cathay United Bank HCM Branch Awards "Elevated Tree Program" Scholarship to Underprivileged Students in Quang Nam CUB Spreads Love Through Scholarships in Vietnam

Cathay United Bank HCM Branch Awards "Elevated Tree Program" Scholarship to Underprivileged Students in Quang Nam CUB Spreads Love Through Scholarships in Vietnam

Yahoo2 days ago

TAIPEI, June 6, 2025 /PRNewswire/ -- As part of a series of events celebrating the 20th anniversary of Cathay United Bank Ho Chi Minh Branch (CUBHCM), the bank held the 17th "Elevated Tree Program" Scholarship Award Ceremony at Quang Nam College. During the event, CUBHCM supported underprivileged students by awarding 360 scholarships, amounting to a total of VND 360 million. In a separate and significant contribution, Cathay Life independently provided an additional 100 scholarships valued at VND 100 million. Consequently, through the combined efforts of both organizations, a total of 460 scholarships with a total value of VND 460 million were awarded to deserving students. Initiated in October 2008, the "Elevated Tree Program" stands as a flagship annual initiative embodying the strong corporate social responsibility of CUBHCM. The program reflects the bank's commitment to contributing to education development and supporting underprivileged students nationwide. To date, it has become a prominent and impactful annual humanitarian endeavor of the bank.
Until 2024, the CUBHCM scholarship program has steadfastly supported Vietnam's education sector, empowering over 22,000 underprivileged students who have demonstrated strong academic performance. The total funding provided has reached nearly VND 13 billion. Beyond material assistance, the program plays a crucial role in fostering confidence and creating motivation for these students to overcome obstacles and steadfastly pursue their intellectual journeys.
The scholarship awarding ceremony in Quang Nam was honored by the participation of CUBHCM's strategic partners, including Cathay Life Insurance Vietnam Co. Ltd (Cathay Life), Cathay Insurance (Vietnam), and the Quang Nam Association for Promoting Education.
Speaking at the ceremony, Mr. Lu Wei Chieh, General Manager of CUBHCM, emphasized: "Throughout our 20 years of operation in Vietnam, CUBHCM has consistently prioritized building a sustainable business alongside fulfilling our social responsibilities to the community. We firmly believe that investing in education is the most practical and effective pathway to building a brighter future for the nation. This conviction has driven us to initiate and maintain the "Elevated Tree Program" for the past 17 years, with the aim of supporting tens of thousands of students in overcoming adversity and continuing to nurture their dreams and aspirations for learning."
Among the students receiving scholarships at Quang Nam College, Nguyen Ngoc Le Giang, a ninth-grade student at Chu Van An Secondary School in Tam Ky City, was visibly moved. Sharing her gratitude, Giang stated, "This scholarship offers crucial support to us and our families in alleviating some of our hardships, allowing us to continue attending school," and pledged to dedicate herself to her studies for a brighter future.
Beyond the significant scholarship grants, the 17th "Elevated Tree Program" scholarship awarding ceremony also placed a strong emphasis on creating comprehensive educational experiences for the students. The "Ring the Golden Bell" knowledge contest emerged as an engaging intellectual platform, encouraging students to apply their knowledge, cultivate teamwork skills, and develop logical thinking. Simultaneously, the "Elevated Dreams" activity provided a meaningful space for students to articulate their aspirations and ambitions, thereby inspiring motivation and future direction. These two activities not only served as highlights of the event but also underscored the organizers' deep commitment to the holistic development of the students.
The year 2025 marks the 20th anniversary of CUBHCM's operation in the Vietnamese market, a milestone being celebrated with a series of meaningful events and social activities under the parent company Cathay Financial Hodings group value "Better together." Notably, CUBHCM and its partners are committed to the continued expansion of the "Elevated Tree Program" in both scale and number, aiming to further support children in exploring their talents, fostering learning motivation, and enhancing their self-confidence. In addition to the scholarship distribution in Quang Nam, CUBHCM plans to continue its commitment by awarding scholarships worth VND 360 million to students facing exceptional difficulties with strong academic records in Ho Chi Minh City later this year. This initiative not only reaffirms CUBHCM's dedication to supporting students overcoming hardship but also demonstrates the expanding scale and reach of its assistance to the younger generation across Vietnam.
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Cathay United Bank HCM Branch Awards "Elevated Tree Program" Scholarship to Underprivileged Students in Quang Nam CUB Spreads Love Through Scholarships in Vietnam
Cathay United Bank HCM Branch Awards "Elevated Tree Program" Scholarship to Underprivileged Students in Quang Nam CUB Spreads Love Through Scholarships in Vietnam

Yahoo

time2 days ago

  • Yahoo

Cathay United Bank HCM Branch Awards "Elevated Tree Program" Scholarship to Underprivileged Students in Quang Nam CUB Spreads Love Through Scholarships in Vietnam

TAIPEI, June 6, 2025 /PRNewswire/ -- As part of a series of events celebrating the 20th anniversary of Cathay United Bank Ho Chi Minh Branch (CUBHCM), the bank held the 17th "Elevated Tree Program" Scholarship Award Ceremony at Quang Nam College. During the event, CUBHCM supported underprivileged students by awarding 360 scholarships, amounting to a total of VND 360 million. In a separate and significant contribution, Cathay Life independently provided an additional 100 scholarships valued at VND 100 million. Consequently, through the combined efforts of both organizations, a total of 460 scholarships with a total value of VND 460 million were awarded to deserving students. Initiated in October 2008, the "Elevated Tree Program" stands as a flagship annual initiative embodying the strong corporate social responsibility of CUBHCM. The program reflects the bank's commitment to contributing to education development and supporting underprivileged students nationwide. To date, it has become a prominent and impactful annual humanitarian endeavor of the bank. Until 2024, the CUBHCM scholarship program has steadfastly supported Vietnam's education sector, empowering over 22,000 underprivileged students who have demonstrated strong academic performance. The total funding provided has reached nearly VND 13 billion. Beyond material assistance, the program plays a crucial role in fostering confidence and creating motivation for these students to overcome obstacles and steadfastly pursue their intellectual journeys. The scholarship awarding ceremony in Quang Nam was honored by the participation of CUBHCM's strategic partners, including Cathay Life Insurance Vietnam Co. Ltd (Cathay Life), Cathay Insurance (Vietnam), and the Quang Nam Association for Promoting Education. Speaking at the ceremony, Mr. Lu Wei Chieh, General Manager of CUBHCM, emphasized: "Throughout our 20 years of operation in Vietnam, CUBHCM has consistently prioritized building a sustainable business alongside fulfilling our social responsibilities to the community. We firmly believe that investing in education is the most practical and effective pathway to building a brighter future for the nation. This conviction has driven us to initiate and maintain the "Elevated Tree Program" for the past 17 years, with the aim of supporting tens of thousands of students in overcoming adversity and continuing to nurture their dreams and aspirations for learning." Among the students receiving scholarships at Quang Nam College, Nguyen Ngoc Le Giang, a ninth-grade student at Chu Van An Secondary School in Tam Ky City, was visibly moved. Sharing her gratitude, Giang stated, "This scholarship offers crucial support to us and our families in alleviating some of our hardships, allowing us to continue attending school," and pledged to dedicate herself to her studies for a brighter future. Beyond the significant scholarship grants, the 17th "Elevated Tree Program" scholarship awarding ceremony also placed a strong emphasis on creating comprehensive educational experiences for the students. The "Ring the Golden Bell" knowledge contest emerged as an engaging intellectual platform, encouraging students to apply their knowledge, cultivate teamwork skills, and develop logical thinking. Simultaneously, the "Elevated Dreams" activity provided a meaningful space for students to articulate their aspirations and ambitions, thereby inspiring motivation and future direction. These two activities not only served as highlights of the event but also underscored the organizers' deep commitment to the holistic development of the students. The year 2025 marks the 20th anniversary of CUBHCM's operation in the Vietnamese market, a milestone being celebrated with a series of meaningful events and social activities under the parent company Cathay Financial Hodings group value "Better together." Notably, CUBHCM and its partners are committed to the continued expansion of the "Elevated Tree Program" in both scale and number, aiming to further support children in exploring their talents, fostering learning motivation, and enhancing their self-confidence. In addition to the scholarship distribution in Quang Nam, CUBHCM plans to continue its commitment by awarding scholarships worth VND 360 million to students facing exceptional difficulties with strong academic records in Ho Chi Minh City later this year. This initiative not only reaffirms CUBHCM's dedication to supporting students overcoming hardship but also demonstrates the expanding scale and reach of its assistance to the younger generation across Vietnam. View original content to download multimedia: SOURCE Cathay United Bank Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données

Cathay Financial Holding Co Ltd (TPE:2882) Q1 2025 Earnings Call Highlights: Strong Growth in ...
Cathay Financial Holding Co Ltd (TPE:2882) Q1 2025 Earnings Call Highlights: Strong Growth in ...

Yahoo

time26-05-2025

  • Yahoo

Cathay Financial Holding Co Ltd (TPE:2882) Q1 2025 Earnings Call Highlights: Strong Growth in ...

Net Income: TWD32 billion for Q4 2025; TWD32.2 billion for Q1 2025. Return on Equity (ROE): 14.4% for Q4 2025. Earnings Per Share (EPS): TWD2.18 for Q1 2025. Cathay United Bank Earnings Growth: 17% year-on-year for Q1 2025. Net Interest Income Growth: 18% year-on-year for Q1 2025. Net Fee Income Growth: 33% year-on-year for Q1 2025. Wealth Management Fee Growth: 46% year-on-year for Q1 2025. Credit Card Fee Growth: 14% year-on-year for Q1 2025. Cathay Life Total Premium Growth: 24% year-on-year to TWD134 billion for Q1 2025. First Year Premium (FYP): TWD55 billion, doubled year-on-year for Q1 2025. Value of New Business (VNB): TWD9.4 billion, up 9% year-on-year for Q1 2025. Investment Yield: 4% after hedging for Q1 2025. Asset Management AUM: TWD2.2 trillion for Q1 2025. Book Value: TWD884 billion for Cathay Financial Holdings, down year-to-date. Book Value Per Share: TWD52.8 for Q1 2025. Embedded Value: TWD1,279 billion for 2024, up 12% year-on-year. Appraisal Value: TWD1.55 trillion for 2024. Warning! GuruFocus has detected 6 Warning Sign with TPE:2882. Release Date: May 23, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cathay Financial Holding Co Ltd (TPE:2882) delivered solid results in the fourth quarter with net income reaching TWD32 billion and ROE at 14.4%. Cathay United Bank reported a 17% year-on-year growth in earnings, supported by double-digit growth in loans, net income, and net interest income. Cathay Century, the P&C insurance subsidiary, achieved a 21% year-on-year increase in net income, maintaining solid underwriting profitability. Cathay SITE, the asset management subsidiary, posted a 20% year-on-year earnings growth and continued to receive strong market recognition. The company's capital position remained robust despite recent currency fluctuations, providing a solid buffer against financial market volatility. Cathay Life's earnings declined year-on-year due to a high base of capital gain in the same period of last year. The consolidated book value of the holding company was down year-to-date, reflecting lower mark-to-market value of financial assets amid stock market corrections. The equity-to-asset ratio stood at 8.5%, indicating a decrease in book value due to equity market corrections. The cost of liability rose slightly due to the declared rate increase for interest-sensitive policies. Cathay Life's book value was down year-to-date, reflecting equity market corrections, which could impact future financial stability. Q: How does Cathay Financial manage the impact of Taiwan dollar appreciation on its life business? A: Grace Chen, CFO, explained that Cathay Financial employs a dynamic hedging strategy using traditional hedging tools, currency swaps, NDFs, and proxy hedging with a basket of currencies correlated with the Taiwan dollar. This strategy effectively mitigates earnings impact despite short-term volatility. The FX volatility reserve offsets 60% of currency impact, and an application to adopt a new reserve mechanism could increase this to 100%. The company's strong capital position provides resilience against further volatility. Q: What is the impact of U.S. tariffs and market volatility on Cathay's banking and life insurance businesses? A: Grace Chen noted that the banking business showed strong momentum, maintaining targets for high single-digit loan growth and fee income growth. For life insurance, Cathay increased cash positions to enhance flexibility and focused on aligning assets with liabilities. The company is well-prepared for IFRS 17 and ICS adoption, with a strategy prioritizing value-driven growth. Q: How does Cathay United Bank manage risks associated with wealth management clients pledging Taiwan dollar assets to buy U.S. dollar products? A: Hsing-Hsien Hu, Senior EVP, stated that the pledge portfolio is not a major part of the business, with a healthy loan-to-value ratio of 50%. Investment revenue is driven by market performance rather than hedging strategies. The bank maintains a healthy portfolio and targets high single-digit growth in wealth management fees. Q: What is Cathay Life's approach if the FX reserve is fully depleted due to Taiwan dollar appreciation? A: Chang-Ken Lee, CEO, expressed confidence in the hedging strategy's effectiveness, noting that the Taiwan dollar's recent appreciation was temporary. The company does not foresee structural changes in currency movements and believes the FX reserve will not be depleted. The hedging strategy remains effective, with no significant impact expected on earnings or capital. Q: What is the single rate equivalent for the value of new business in 2024? A: Chang-Ken Lee stated that the equivalent investment rate for new business in 2024 is around 4.7%, up from 4.62% in 2023. This includes both Taiwan dollar and U.S. dollar new business. Q: How much can Cathay leverage proxy hedging in its risk management strategy? A: Shu-Fen Cheng, Senior EVP, explained that proxy hedging typically ranges from 10% to 30% of the hedging strategy. The company adjusts the mix based on currency movements and risk-reward judgments, maintaining flexibility to manage currency volatility effectively. Q: How does Cathay United Bank's deposit growth compare to peers, and what strategies are in place? A: Shu-Fen Cheng highlighted that Cathay United Bank's deposit growth has outperformed key peers for the past seven years, driven by a strong brand and enhanced corporate services. The bank focuses on attracting retail and corporate deposits without over-leveraging client assets. Q: What are the historical hedging costs for Cathay Life, and how effective is the proxy hedging strategy? A: Shu-Fen Cheng noted that Cathay Life's hedging costs have been contained within 1% to 1.5% in most years, with proxy hedging effectively minimizing costs. The strategy leverages currency correlations and has proven effective over the past 14 years, with only two years exceeding the cost benchmark. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.

Cathay Financial Holding Co Ltd (TPE:2882) Q1 2025 Earnings Call Highlights: Strong Growth in ...
Cathay Financial Holding Co Ltd (TPE:2882) Q1 2025 Earnings Call Highlights: Strong Growth in ...

Yahoo

time26-05-2025

  • Yahoo

Cathay Financial Holding Co Ltd (TPE:2882) Q1 2025 Earnings Call Highlights: Strong Growth in ...

Net Income: TWD32 billion for Q4 2025; TWD32.2 billion for Q1 2025. Return on Equity (ROE): 14.4% for Q4 2025. Earnings Per Share (EPS): TWD2.18 for Q1 2025. Cathay United Bank Earnings Growth: 17% year-on-year for Q1 2025. Net Interest Income Growth: 18% year-on-year for Q1 2025. Net Fee Income Growth: 33% year-on-year for Q1 2025. Wealth Management Fee Growth: 46% year-on-year for Q1 2025. Credit Card Fee Growth: 14% year-on-year for Q1 2025. Cathay Life Total Premium Growth: 24% year-on-year to TWD134 billion for Q1 2025. First Year Premium (FYP): TWD55 billion, doubled year-on-year for Q1 2025. Value of New Business (VNB): TWD9.4 billion, up 9% year-on-year for Q1 2025. Investment Yield: 4% after hedging for Q1 2025. Asset Management AUM: TWD2.2 trillion for Q1 2025. Book Value: TWD884 billion for Cathay Financial Holdings, down year-to-date. Book Value Per Share: TWD52.8 for Q1 2025. Embedded Value: TWD1,279 billion for 2024, up 12% year-on-year. Appraisal Value: TWD1.55 trillion for 2024. Warning! GuruFocus has detected 6 Warning Sign with TPE:2882. Release Date: May 23, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cathay Financial Holding Co Ltd (TPE:2882) delivered solid results in the fourth quarter with net income reaching TWD32 billion and ROE at 14.4%. Cathay United Bank reported a 17% year-on-year growth in earnings, supported by double-digit growth in loans, net income, and net interest income. Cathay Century, the P&C insurance subsidiary, achieved a 21% year-on-year increase in net income, maintaining solid underwriting profitability. Cathay SITE, the asset management subsidiary, posted a 20% year-on-year earnings growth and continued to receive strong market recognition. The company's capital position remained robust despite recent currency fluctuations, providing a solid buffer against financial market volatility. Cathay Life's earnings declined year-on-year due to a high base of capital gain in the same period of last year. The consolidated book value of the holding company was down year-to-date, reflecting lower mark-to-market value of financial assets amid stock market corrections. The equity-to-asset ratio stood at 8.5%, indicating a decrease in book value due to equity market corrections. The cost of liability rose slightly due to the declared rate increase for interest-sensitive policies. Cathay Life's book value was down year-to-date, reflecting equity market corrections, which could impact future financial stability. Q: How does Cathay Financial manage the impact of Taiwan dollar appreciation on its life business? A: Grace Chen, CFO, explained that Cathay Financial employs a dynamic hedging strategy using traditional hedging tools, currency swaps, NDFs, and proxy hedging with a basket of currencies correlated with the Taiwan dollar. This strategy effectively mitigates earnings impact despite short-term volatility. The FX volatility reserve offsets 60% of currency impact, and an application to adopt a new reserve mechanism could increase this to 100%. The company's strong capital position provides resilience against further volatility. Q: What is the impact of U.S. tariffs and market volatility on Cathay's banking and life insurance businesses? A: Grace Chen noted that the banking business showed strong momentum, maintaining targets for high single-digit loan growth and fee income growth. For life insurance, Cathay increased cash positions to enhance flexibility and focused on aligning assets with liabilities. The company is well-prepared for IFRS 17 and ICS adoption, with a strategy prioritizing value-driven growth. Q: How does Cathay United Bank manage risks associated with wealth management clients pledging Taiwan dollar assets to buy U.S. dollar products? A: Hsing-Hsien Hu, Senior EVP, stated that the pledge portfolio is not a major part of the business, with a healthy loan-to-value ratio of 50%. Investment revenue is driven by market performance rather than hedging strategies. The bank maintains a healthy portfolio and targets high single-digit growth in wealth management fees. Q: What is Cathay Life's approach if the FX reserve is fully depleted due to Taiwan dollar appreciation? A: Chang-Ken Lee, CEO, expressed confidence in the hedging strategy's effectiveness, noting that the Taiwan dollar's recent appreciation was temporary. The company does not foresee structural changes in currency movements and believes the FX reserve will not be depleted. The hedging strategy remains effective, with no significant impact expected on earnings or capital. Q: What is the single rate equivalent for the value of new business in 2024? A: Chang-Ken Lee stated that the equivalent investment rate for new business in 2024 is around 4.7%, up from 4.62% in 2023. This includes both Taiwan dollar and U.S. dollar new business. Q: How much can Cathay leverage proxy hedging in its risk management strategy? A: Shu-Fen Cheng, Senior EVP, explained that proxy hedging typically ranges from 10% to 30% of the hedging strategy. The company adjusts the mix based on currency movements and risk-reward judgments, maintaining flexibility to manage currency volatility effectively. Q: How does Cathay United Bank's deposit growth compare to peers, and what strategies are in place? A: Shu-Fen Cheng highlighted that Cathay United Bank's deposit growth has outperformed key peers for the past seven years, driven by a strong brand and enhanced corporate services. The bank focuses on attracting retail and corporate deposits without over-leveraging client assets. Q: What are the historical hedging costs for Cathay Life, and how effective is the proxy hedging strategy? A: Shu-Fen Cheng noted that Cathay Life's hedging costs have been contained within 1% to 1.5% in most years, with proxy hedging effectively minimizing costs. The strategy leverages currency correlations and has proven effective over the past 14 years, with only two years exceeding the cost benchmark. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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