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First Financial Holding Co. Ltd. Annual Report 2017

May 10, 2018

52222_rns_2018-05-10_771f654a-d836-42c0-9427-5d978b011d9f.pdf

Annual Report

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9[th] Annual dbAccess Asia Conference 2018 FFHC 2017 Earnings Result

May 14-15, 2018 Singapore

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Disclaimer

This presentation is provided by First Financial Holding Co., Ltd. (“FFHC”). The information contained within is not reviewed or reviewed by any accountant or any independent third party. Users should read this material in conjunction with all other public financial and operational information filed to the competent authorities by FFHC. While we endeavor to provide accurate, complete and consistent information herein, FFHC makes no guarantee or warranties as to the accuracy or correctness of all the material contained. After this presentation is released to the public, we undertake no obligation to update any relevant data to reflect any change hereafter.

Users should also notice that this presentation may contain forward-looking statements. Statements that are not historical facts, including statements relating to the implementation of strategic initiatives, future business development and economic performance are forward-looking statements. By their nature, forward-looking statements involve uncertainties, risks, assumptions and other factors that could cause actual developments and results to differ materially from our statement in this presentation. These factors include, but not limited to, regulatory developments, competitive conditions, technological developments, general economic conditions and management changes.

The information, statements or opinions in this presentation do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to buy any securities or financial instruments or any advice or recommendation respect to such securities or other financial instruments. First Group and all its affiliates representatives, no matter for their negligence or any other reasons, should not be liable for any loss or damages arising from the use of or interpretation by others of information contained within this presentation or any matter related to this document.

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Contents

  • Overview

  • At a Glance

  • Financial Highlight

  • Operating Results

  • Appendix

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Overview

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Overview of First Financial Holding

  • Founded in 1899, First Commercial Bank ( “ FCB ” ) stands for well-recognized franchise name, one of the “ Top Three ” commercial banks, supported by extensive branch network both domestic and overseas.

  • First Financial, formed in 2003, with First Bank as its flagship entity .

    • Strong deposit franchise and distribution channels – low funding cost & high CASA rate

    • With Security, Asset management and Life Insurance subsidiary business, First Financial Holding remain keen for further expansion.

2018/2/28

  • Deposit mkt share 5.4%

  • Loan mkt share 5.8%

  • FFHC asset size Top 8

  • SME Lending Top 1 (10.62%)

  • Trade Finance Top 3

  • Mutual fund sales Top 4

  • Custodian Top 1

  • Bank channels Top 2 (188 domestic /39 overseas)

Financial Summary

$mn, except per
share amounts		 2014 2015 2016 2017
Total Revenues 34,186 40,848 45,091 50,827
Net Income 14,078 15,962 17,284 15,432
EPS 1.43 1.48 1.42 1.27
ROAE (annualized) 9.53% 9.32% 9.10% 8.04%

2017 Financial Summary

in NT$ mn
First Commercial Bank Net Income 15,142
First Securities Net Income 272
First Sec. Investment Trust Net Income 70
First-Aviva Life Insurance Net Income (103)

FFHC Ownership Profile

Other Investors: 45.37%

Government (Direct 18.94%; Indirect: 8.45%) 27.39% Foreign Institution: 5

Data as of 2018/4/24

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At a Glance

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4Q2017 Snapshot

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2 Widen FX spread boosted ‘17~’18 (E) net interest income. 4 FB Cambodia sub-branch opened in 4Q17 to inject ‘18 profit.

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In 2017, group net revenue grew by +12.7% YoY, mainly boosted by Bank’s NII & Treasury gains: NII grew by +3.8% and Treasury gains by +20.4%, both lifted group’s net revenue by +12.7%, YoY.

  • House-cleaning for CF exposures (see 3Q17 slide 6) dragged year-end

  • earnings:

Subsidiary FB set aside total of NT 4.8 bn provision expense in 4Q17 dragged down full year performance.

  • FX spreads widened in 4Q17 led to further rate-hike benefit in 2018 : FX loan (now accounts for 22.3% of FB total loan book) will benefit most on US rate hike.

  • Loan book grew by + 2.3% YoY, mainly due to 4Q wipe-out impact, shall rebound from 2018.

Looking ahead in 2018, loan book shall be back to its normal growing path.

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2017 Financial Highlight

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2017 Key Figures


Key Figures ( in NT$ dollar, NT$ mn, mn shares or %)
Consolidated Net Income1
Comprehensive Income
Total Assets
EPS
Book per share
Capital Stock
ROAE
3
ROAA
3
Group CAR4
Double Leverage5
2017
15,4321
14,394
2,634,059
1.27
15.70
122,164
8.04%
0.60%
131.31%
107.40%
YoY %
-10.7%
-3.6%
3.7%
-10.6%
-1.9%
2.0%
-11.7%
-13.0%
-5.6%
1.1%
2016
17,2841
14,930
2,541,156
1.42
16.01
119,769
9.10%
0.69%
139.14%
106.29%
2017 Net Income Breakdown1( in NT$ mn)
Key Figures ( in NT$ dollar, NT$ mn, mn shares or %)
Consolidated Net Income1
Comprehensive Income
Total Assets
EPS
Book per share
Capital Stock
ROAE
3
ROAA
3
Group CAR4
Double Leverage5
2017
15,4321
14,394
2,634,059
1.27
15.70
122,164
8.04%
0.60%
131.31%
107.40%
YoY %
-10.7%
-3.6%
3.7%
-10.6%
-1.9%
2.0%
-11.7%
-13.0%
-5.6%
1.1%
2016
17,2841
14,930
2,541,156
1.42
16.01
119,769
9.10%
0.69%
139.14%
106.29%
Banking
NT$15,142; 98.1%
Securities
NT$272;1.8%
Investment Trust
NT$70; 0.5 %
Others
NT$(93); 0.6%
Insurance
NT$(103); -0.7%
AMC
NT$144; 0.9%

  1. Based on the classification of specific company’s business units, financial information by business segments should be listed individually.

  2. Comprehensive Income Statement is required by IFRS.

  3. Annualized figures. . 4. Updated semi-annually.

  4. Double Leverage = Equity Investment / Shareholder Equity

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Net Income & Comprehensive Income

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2017 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (6,772)
Insurance (4,560)
50,827 (11,332)
↓ 10.7% ↓ 3.6%
(21,347)
(2,716) 15,432 14,394
(1,038)
Net Revenue Provision Operating Income Tax Net Income Other Items Comprehensive
Expense Income
2016 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (2,244)
Insurance (871)
45,091 (3,115)
(21,779)
(2,913)
17,284 14,930
(2,354)
Net Revenue Provision Operating Income Tax Net Income Other Items Comprehensive
Expense Income
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Net Income Breakdown by Subsidiaries*

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2017 FFHC Net Income Breakdown (in NT$ mn)
↓ 10.7%
↓ 14.5%
15,142 15,432
FFHC (53)
272 70 Aviva (50) 144
(103)
First Bank First Securities FSITC First-Aviva AMC FFHC
(First Life)
2016 FFHC Net Income Breakdown (in NT$ mn)
17,699
17,284
FFHC (75)
Aviva (72)
64 44
(229) (147)
First Bank First Securities FSITC First-Aviva AMC FFHC
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  • Major 5 subsidiaries were listed.

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2017 Operating Results

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FFHC & First Bank Profitability -After Tax

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FFHC Net Income & ROAE (in NT$ mn & %)
Cumulative Net Income Annualized ROAE
9.45% 9.32% 9.28% 9.36% 9.47% 9.10% 8.92% 10.14% 10.29% 8.04%
17,284
15,962 14,832 15,432
13,407
12,018
8,746 9,608
4,406 4,309
9M 15 2015 3M 16 6M 16 9M 16 2016 3M 17 6M 17 9M 17 2017
First Bank Net Income & ROAE (in NT$ mn & %)
Cumulative Net Income Annualized ROAE
9.60% 9.56% 10.36% 9.86% 9.83% 9.46% 9.00% 10.00% 10.15% 7.91%
17,699
16,100
14,565 15,142
13,685
12,013
9,072 9,442
4,808 4,320
9M 15 2015 3M 16 6M 16 9M 16 2016 3M 17 6M 17 9M 17 2017
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1.Minority interests included

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FB 2017 Pre-tax Profit

42,914
41,537
2016
2017
2016
2017
2016 2017 2016 2017 2016 2017 2016 2017 2016
2017
Cumulative Net Revenue
2017 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
2016
2017
Change
NII
66.9%
67.2%
+0.3%
Net Fee
19.3%
17.4%
-1.9%
Gain on ST Invest.
0.7%
0.9%
+0.2%
Gain on LT invest.
1.6%
1.7%
+0.1%
Gain on fin. Products
10.5%
12.2%
+1.7%
Others
1.0%
0.6%
-0.4%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-4.9%
-16.0%
+11.1%
Operating Expense
-45.7%
-43.0%
-2.7%
Income Before Tax
49.4%
41.0%
-8.4%
Net Interest Income
Net Fee Income
Gains on
investment
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑3.8%
↓7.2%
↑ 20.4%
+3.3%
27,798
8,035
5,295
18,963
28,843
7,457
6,373
9,621
18,466
4,396
2,346
2,782
Provision Exp.1
Recovery
CF:4.8 bn		 42,914
41,537
2016
2017
2016
2017
2016 2017 2016 2017 2016 2017 2016 2017 2016
2017
Cumulative Net Revenue
2017 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
2016
2017
Change
NII
66.9%
67.2%
+0.3%
Net Fee
19.3%
17.4%
-1.9%
Gain on ST Invest.
0.7%
0.9%
+0.2%
Gain on LT invest.
1.6%
1.7%
+0.1%
Gain on fin. Products
10.5%
12.2%
+1.7%
Others
1.0%
0.6%
-0.4%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-4.9%
-16.0%
+11.1%
Operating Expense
-45.7%
-43.0%
-2.7%
Income Before Tax
49.4%
41.0%
-8.4%
Net Interest Income
Net Fee Income
Gains on
investment
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑3.8%
↓7.2%
↑ 20.4%
+3.3%
27,798
8,035
5,295
18,963
28,843
7,457
6,373
9,621
18,466
4,396
2,346
2,782
Provision Exp.1
Recovery
CF:4.8 bn		 42,914
41,537
2016
2017
2016
2017
2016 2017 2016 2017 2016 2017 2016 2017 2016
2017
Cumulative Net Revenue
2017 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
2016
2017
Change
NII
66.9%
67.2%
+0.3%
Net Fee
19.3%
17.4%
-1.9%
Gain on ST Invest.
0.7%
0.9%
+0.2%
Gain on LT invest.
1.6%
1.7%
+0.1%
Gain on fin. Products
10.5%
12.2%
+1.7%
Others
1.0%
0.6%
-0.4%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-4.9%
-16.0%
+11.1%
Operating Expense
-45.7%
-43.0%
-2.7%
Income Before Tax
49.4%
41.0%
-8.4%
Net Interest Income
Net Fee Income
Gains on
investment
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑3.8%
↓7.2%
↑ 20.4%
+3.3%
27,798
8,035
5,295
18,963
28,843
7,457
6,373
9,621
18,466
4,396
2,346
2,782
Provision Exp.1
Recovery
CF:4.8 bn		 42,914
41,537
2016
2017
2016
2017
2016 2017 2016 2017 2016 2017 2016 2017 2016
2017
Cumulative Net Revenue
2017 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
2016
2017
Change
NII
66.9%
67.2%
+0.3%
Net Fee
19.3%
17.4%
-1.9%
Gain on ST Invest.
0.7%
0.9%
+0.2%
Gain on LT invest.
1.6%
1.7%
+0.1%
Gain on fin. Products
10.5%
12.2%
+1.7%
Others
1.0%
0.6%
-0.4%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-4.9%
-16.0%
+11.1%
Operating Expense
-45.7%
-43.0%
-2.7%
Income Before Tax
49.4%
41.0%
-8.4%
Net Interest Income
Net Fee Income
Gains on
investment
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑3.8%
↓7.2%
↑ 20.4%
+3.3%
27,798
8,035
5,295
18,963
28,843
7,457
6,373
9,621
18,466
4,396
2,346
2,782
Provision Exp.1
Recovery
CF:4.8 bn		 42,914
41,537
2016
2017
2016
2017
2016 2017 2016 2017 2016 2017 2016 2017 2016
2017
Cumulative Net Revenue
2017 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
2016
2017
Change
NII
66.9%
67.2%
+0.3%
Net Fee
19.3%
17.4%
-1.9%
Gain on ST Invest.
0.7%
0.9%
+0.2%
Gain on LT invest.
1.6%
1.7%
+0.1%
Gain on fin. Products
10.5%
12.2%
+1.7%
Others
1.0%
0.6%
-0.4%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-4.9%
-16.0%
+11.1%
Operating Expense
-45.7%
-43.0%
-2.7%
Income Before Tax
49.4%
41.0%
-8.4%
Net Interest Income
Net Fee Income
Gains on
investment
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑3.8%
↓7.2%
↑ 20.4%
+3.3%
27,798
8,035
5,295
18,963
28,843
7,457
6,373
9,621
18,466
4,396
2,346
2,782
Provision Exp.1
Recovery
CF:4.8 bn		 42,914
41,537
2016
2017
2016
2017
2016 2017 2016 2017 2016 2017 2016 2017 2016
2017
Cumulative Net Revenue
2017 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
2016
2017
Change
NII
66.9%
67.2%
+0.3%
Net Fee
19.3%
17.4%
-1.9%
Gain on ST Invest.
0.7%
0.9%
+0.2%
Gain on LT invest.
1.6%
1.7%
+0.1%
Gain on fin. Products
10.5%
12.2%
+1.7%
Others
1.0%
0.6%
-0.4%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-4.9%
-16.0%
+11.1%
Operating Expense
-45.7%
-43.0%
-2.7%
Income Before Tax
49.4%
41.0%
-8.4%
Net Interest Income
Net Fee Income
Gains on
investment
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑3.8%
↓7.2%
↑ 20.4%
+3.3%
27,798
8,035
5,295
18,963
28,843
7,457
6,373
9,621
18,466
4,396
2,346
2,782
Provision Exp.1
Recovery
CF:4.8 bn		 42,914
41,537
2016
2017
2016
2017
2016 2017 2016 2017 2016 2017 2016 2017 2016
2017
Cumulative Net Revenue
2017 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
2016
2017
Change
NII
66.9%
67.2%
+0.3%
Net Fee
19.3%
17.4%
-1.9%
Gain on ST Invest.
0.7%
0.9%
+0.2%
Gain on LT invest.
1.6%
1.7%
+0.1%
Gain on fin. Products
10.5%
12.2%
+1.7%
Others
1.0%
0.6%
-0.4%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-4.9%
-16.0%
+11.1%
Operating Expense
-45.7%
-43.0%
-2.7%
Income Before Tax
49.4%
41.0%
-8.4%
Net Interest Income
Net Fee Income
Gains on
investment
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑3.8%
↓7.2%
↑ 20.4%
+3.3%
27,798
8,035
5,295
18,963
28,843
7,457
6,373
9,621
18,466
4,396
2,346
2,782
Provision Exp.1
Recovery
CF:4.8 bn
42,914
41,537
2016
2017
Cumulative Net Revenue
+3.3%
Item
2016		 2017 Change
NII
66.9%		 67.2% +0.3%
Net Fee
19.3%		 17.4% -1.9%
Gain on ST Invest.
0.7%		 0.9% +0.2%
Gain on LT invest.
1.6%		 1.7% +0.1%
Gain on fin. Products
10.5%		 12.2% +1.7%
Others
1.0%		 0.6% -0.4%
z
Total Revenue
100.0%		 100.0%
Provision Expense (net)
-4.9%		 -16.0% +11.1%
Operating Expense
-45.7%		 -43.0% -2.7%
FB Revenue/Expense Comparison(in NT$ mn ) Income Before Tax
49.4%		 41.0% -8.4%
  1. Gross Provision expense.

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FB 2017 Loan Book Mix

2017 2017 2017 Loan Book1 (in NT$ bn or %)
1,547.1
1,582.0
2016
2017
Loan Book1
+2.3%		 Loan Book1 (in NT$ bn or %)
1,547.1
1,582.0
2016
2017
Loan Book1
+2.3%		 783.6
784.3
329.5
352.8
20162017
20162017
F/X↑7.1%
Commercial Loan
(Gov./SOE included)
F/X Loan
Item
2016
2017
Change
Consumer
28.0%
28.2%
+0.2%
Mortgage
26.2%
26.2%
-0.0%
Other Consumer Loan
1.8%
2.0%
+0.2%
Corporate Banking
72.0%
71.8%
-0.2%
Commercial Loan
(Gov./SOE included) )
50.7%
49.5%
-1.2%
--- SME
41.9%
41.6%
-0.3%
F/X/ Loan
21.3%
22.3%
+1.0%
--- Overseas
12.6%
13.4%
+0.8%
Loan Book1
100.0%
100.0%
% of Loan Book1
↓0.1%
SME2
647.8
SME2
610.6
Overseas
195.1
SME↑1.5%
Overseas
211.8
Overseas
↑ 8.6%
SME2
657.8
Item
2016
2017
Change
Consumer
28.0%
28.2%
+0.2%
Mortgage
26.2%
26.2%
-0.0%
Other Consumer Loan
1.8%
2.0%
+0.2%
Corporate Banking
72.0%
71.8%
-0.2%
Commercial Loan
(Gov./SOE included) )
50.7%
49.5%
-1.2%
--- SME
41.9%
41.6%
-0.3%
F/X/ Loan
21.3%
22.3%
+1.0%
--- Overseas
12.6%
13.4%
+0.8%
Loan Book1
100.0%
100.0%
405.9
27.5
414.7
30.9
20162017
20162017
↑2.2%
2017 Loan Book1 Breakdown(in NT$ bn )
Mortgage
Other Consumer
Loan
↑ 12.4%		 783.6
784.3
329.5
352.8
20162017
20162017
F/X↑7.1%
Commercial Loan
(Gov./SOE included)
F/X Loan
↓0.1%
SME2
647.8
SME2
610.6
Overseas
195.1
SME↑1.5%
Overseas
211.8
Oversea
↑ 8.6%
SME2
657.8
20162017
20162017
Mortgage
Other Consumer
Loan

  1. Loan Book does not include NALs

  2. SME as defined by the “Act for Development of Small & Medium Enterprises; both NTD & Foreign currency loan included

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FB Loan Breakdown

-QoQ Comparison

FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) QoQ%
+2.4%
+6.6%
+0.4%
+1.5%
+0.7%
↑1.1%		 QoQ%
+2.4%
+6.6%
+0.4%
+1.5%
+0.7%
↑1.1%
329.5
330.1
336.8
350.2
352.8
136.4
143.7
136.1
124.4
125.8
647.8
643.5
647.8
655.4
657.8
27.5
27.4
28.7
29.0
30.9
405.9
403.6
403.6
405.0
414.7
4Q16
1Q17
2Q17
3Q17
4Q17
SME
Mortgage
Commercial
Loan
1,547.1
1548.3
1553.0
1564.1
1582.0
F/X loan
Total loan
Consumer Loan
Others		 QoQ%
+2.4%
+6.6%
+0.4%
+1.5%
+0.7%
↑1.1%
+2.4%
+6.6%
+0.4%
+1.5%
+0.7%
4Q16
1Q17
2Q17
3Q17
4Q17

17

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FB 2017 LDR, SPREAD &NIM

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----- Start of picture text -----

Total Loan & LDR (in NT$ bn or % ) Total Loan [1] LDR [2]
78.56% 79.15% 79.04% 80.48% 79.92% 78.89% 79.28%
76.88% 77.30% NTD 83.9%
F/X 65.3%
1,489.5 1,482.6 1,497.3 1,517.3 1,550.8 1,552.3 1,557.1 1,568.0 1,589.8
4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17
△
Loan-Deposit Spread / NIM ( in % ) Spread [3] NIM [3]
1.63% 1.64% 1.64% 1.64% 1.65% 1.63% 1.63% 1.64% 1.65%
1.26% 1.27% 1.26% 1.26% 1.26% 1.26% 1.26% 1.26% 1.26%
4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17
----- End of picture text -----

  1. Total Loan = loan + import/export negotiation + NALs

  2. LDR = Total loan / Total deposit, starting from 2012, total deposit does not include structured deposit.

  3. Annual cumulative Average Spread and NIM

18

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FB 2017 Loan Yields

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----- Start of picture text -----

FB NTD Yields & Costs Overview ( in % ) Interest Spread (NTD)
Deposit Rate (NTD) Lending Rate (NTD)
1.51%
1.48% 1.48% 1.49% 1.49%
1.95% 1.91% 1.90% 1.91% 1.91%
0.44% 0.43% 0.42% 0.42% 0.42%
4Q16 1Q17 2Q17 3Q17 4Q17
FB FX Yields & Costs Overview ( in % ) Deposit Rate (FX) Lending Rate (FX)
2.50%
Interest Spread (FX)
2.33%
2.27% 2.28%
2.25%
3.51%
3.25%
3.00% 3.12% 3.09%
0.73% 0.84% 0.84% 0.92% 1.01%
4Q16 1Q17 2Q17 3Q17 4Q17
----- End of picture text -----

All rates are QUARTERLY* average rates.

19

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FB 2017 Deposit Mix

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----- Start of picture text -----

FB Deposit Structure (in NT$ bn ) FB Deposit CASA Rate (in %)
NTD Deposit F/X deposit
NTD CASA rate
2017 Total
496.0 540.3 Deposit
$2,004.8 bn △
68.30%
67.09% 67.12%
65.80% 65.31%
+4.1%
1,430.1 1,464.5
2015 1H16 2016 1H17 2017
2016 2017
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Major Exposures Breakdown

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----- Start of picture text -----

End of 2017 - % of Loan to Industries
15.58%
4.63%
4.56%
10.84%
4.48%
Manufacturing; 25.47%
2017 4.12%
Petro.
10.44% Total Exposures
Tech.
5.53%
$1,691.5 bn Machinery
Metal
6.78% Other manufacturing
Individual(Mortgage included)
Real Estate
Wholesale/Retail
33.04% Transportation&Warehousing
Others
----- End of picture text -----*

  1. Total exposures does not includes NALs and investment.

21

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FB 2017 Mortgage Book

2015 Mortgage by Location(in %)
Location
Loan%
NPL Ratio
North
68%
0.37%
TPE Metro
51%
0.38%
Taoyuan/Hsinchu/
18%
0.33%
Central
11%
0.28%
Taichung
South
17%
0.22%
Tainan/Kaohsiung
East
4%
0.12%
Total
100.00%
0.32%
Location
Loan%
NPL Ratio
North
68%
0.37%
TPE Metro
51%
0.38%
Taoyuan/Hsinchu/
18%
0.33%
Central
11%
0.28%
Taichung
South
17%
0.22%
Tainan/Kaohsiung
East
4%
0.12%
Total
100.00%
0.32%
↑4.3%
↑17.2%
SME2
317.0
SME2
305.0
Monthly New Mortgage Lending
Monthly New Mortgage Lending(in NT$mn)
5,350
4,407
6,125
4,901
5,534
6,580
5,278
6,536
7,235
6,965
8,879
10,322
↑11M~1
1M17
2M17
3M17
4M17
5M17
6M17
7M17
8M17
9M17
10M17
11M17
12M17

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FB 2017 Fee Income Breakdown

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2017 Cumulative Net Fee Income (in NT$ mn or %) % of Cumulative Net Fee
Item 2016 2017 Change
7,457
WM [1 ] 58.3% 57.2% -1.1%
Loan-related 15.5% 16.4% +0.9%
8,035 -7.2%
F/X 10.9% 11.6% +0.7%
Credit Card 5.1% 5.5% +0.4%
Other [2] 10.2% 9.3% -0.9%
2016 2017
Net Fee Income Cumulative Net Fee 100.0% 100.0%
2017 Cumulative Net Fee Breakdown ( in NT$ mn )
↓9.0%
4,685
4,263
↓1.6%
↓2.0%
↓ 23.7%
1,226
1,246
881 863 410 816 695
↑3.0% 407
2016 2017 2016 2017 2016 2017 2016 2017 2016 2017
WM Fee [1] Loan-related F/X Credit Card Other [2]
----- End of picture text -----

  1. WM Fee = Custodian Fee + Trust-related Fee + Bancassurance Fee

  2. Other represents network service fee, including overseas branches

23

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FB Fee Income Breakdown

-QoQ Comparison

Wealth
MGT.*		 Fee Income(in NT$ mn)
736
987
342
528
681
474
101
93
94
94
95
94
299
265
285
302
355
284
207
223
214
215
223
90
126
85
107
100
118
177
193
164
178
197
156
378
446
525
512
381
352
211
3Q16
4Q16
1Q17
2Q17
3Q17
4Q17
Loan
Related
Credit Card
F/X
Related
Quarterly
fee income
Others
*
1,991
2,239
1,559
1,869
2,168
1,861
Mutual Fund
Custodian

Bacassurance**
  • Wealth Management Fee = Fund sales + Bancassurance + Custodian

*Other represents network service fee, including overseas branches

24

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FB 2017 Cost-to-Income Ratio

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----- Start of picture text -----

|||||||
|---|---|---|---|---|---|
|2017 Cumulative Operating Expense|(in NT$ mn )|Cost-to-Income Ratio Analysis( in NT$ mn)|
|Item|2016|2017|
|Net Revenue|41,537|42,914|
|18,466|
|Operating Expense|(18,963)|(18,466)|
|18,963|-2.6%|
|Provision(Net)|(2,050)|(6,839)|
|Income Tax|(2,825)|(2,467)|
|2016|2017|
|Net Income|17,699|15,142|
|Operating Expense|
|Quarterly Operating Expense & Cumulated Cost-to-Income Ratio|( in NT$ mn or % )|
|Net Revenue|Operating Expense|Cumulated Cost-to-Income Ratio|
|45.65%|45.34%|
|44.65%|44.73%|
|43.55%|43.03%|
|10,682|10,245|10,026|10,861|11,447|10,580|
|4,732|4,990|4,546|4,796|4,739|4,385|
|3Q16|4Q16|1Q17|2Q17|3Q17|4Q17|

----- End of picture text -----

  1. Preliminary data for 4Q17.

25

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FB 2017 Asset Quality

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----- Start of picture text -----

NPL Amount, Reserve, Coverage (in NT$ mn or % )
Coverage Ratio LLR ratio (loan loss reserve/total loan, excluding gov.loan)
635.75%
588.67% 625.14%
537.82%
498.44% 500.09%
358.56%
1.38%
1.30%
1.21% 1.22% 1.20%
1.18% 1.20%
NPL Ratio NPL NPL Reserve
0.38%
0.24% 0.24%
0.20% 0.20% 0.20% 0.22%
21,922
19,451 18,276 18,973 18,205 18,561 18,762
6,114
3,060 3,105 3,035 3,385 3,724 3,752
6M16 9M16 2016 3M17 6M17 9M17 2017
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FB NPL Migration by Sectors

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----- Start of picture text -----

1
Individual & Mortgage NPL Ratios (in %) Large Corp. & SME NPL Ratios (in %)
Individual
Large Corp.
Mortagge
SME
0.33% 0.32% 0.75%
0.29%
0.26%
0.31% 0.29% 0.35% 0.38% 0.35%
0.28%
0.56%
0.26%
0.18% 0.23%
0.00% 0.00% 0.00% 0.00%
0.16%
4Q16 1Q17 2Q17 3Q17 4Q17 4Q16 1Q17 2Q17 3Q17 4Q17
Domestic NPL Ratio (in %) Overseas NPL Ratio (in %)
Domestic
Overseas
0.46%
0.27% 0.28% 0.23%
0.24%
0.19% 0.11% 0.10%
0.05% 0.05%
4Q16 1Q17 2Q17 3Q17 4Q17 4Q16 1Q17 2Q17 3Q17 4Q17
----- End of picture text -----

  1. Individual: mortgage and non-mortgage loan included

  2. bad-debt recovery not included.

27

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FB New NPL Influx Breakdown

Breakdown of New NPL Influx (in NT$ mn）
Quarterly
NPL Influx
1Q17
2Q17
3Q17
4Q17
--- Domestic
1,320
1,385
880
3,159
--- Overseas
380
(6)
28
79
Total NPL Influx
1,700
1,379
908
3,238		 Breakdown of New NPL Influx (in NT$ mn）
Quarterly
NPL Influx
1Q17
2Q17
3Q17
4Q17
--- Domestic
1,320
1,385
880
3,159
--- Overseas
380
(6)
28
79
Total NPL Influx
1,700
1,379
908
3,238		 Quarterly Recovery Mix (in NT$ mn)
Quarterly
Recovery
1Q17
2Q17
3Q17
4Q17
--- Domestic
369
1,169
496
499
--- Overseas
43
128
1
25
--- Credit Card
12
13
14
13
Total Recovery
424
1,310
511
537
Quarterly
NPL Influx
1Q17
2Q17
3Q17
4Q17
--- Domestic
1,320
1,385
880
3,159
--- Overseas
380
(6)
28
79
Total NPL Influx
1,700
1,379
908
3,238		 Quarterly
Recovery
1Q17
2Q17
3Q17
4Q17
--- Domestic
369
1,169
496
499
--- Overseas
43
128
1
25
--- Credit Card
12
13
14
13
Total Recovery
424
1,310
511
537

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----- Start of picture text -----

Quarterly New NPL Influx & Write-offs ( in NT$ mn)
Write-off New NPL Influx
3,238
1,983
1,938
1,637 1,628 1,700
1,519 1,447 1,350 1,379
988 918 1,040 880 908 876
705
540
4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17
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FB 2017 Overseas Profits

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----- Start of picture text -----

2017 FB Total Pre-Tax Profit Mix ( in NT$ mn or %) 2017 FB Total Pre-Tax Profit Mix ( in NT$ mn or %)
Total Pre-Tax
13.13%
47.46% Profit
OBU $17,609 mn Taiwan Domestic Market;
12.46% 51.64%
HK
2017
North America
Overseas
Asean
$8,516 mn
Others
15.47%
11.48% Other Overseas ; Greater China (including OBU) ;
18.34% 30.02%
Quarterly Overseas & Total PTP (in NT$ mn or %)
Overseas Total Cumulative Overseas PTP to FB Total PTP
36.16% 35.88% 36.77% 48.36%
26.97% 28.94% 29.93%
5,984 5,965
5,370 5,030
4,829 4,602
630
1,178 1,760 1,535 1,818 2,134 2,292 2,272
2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17
----- End of picture text -----

29

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CAR & Core Capital

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----- Start of picture text -----

FFHC Group CAR(in %)
Re-cap.
153.43%
139.14% CAR
132.75% 131.84% 131.31%
125.34%
121.24%
115.66%
statutory CAR 100%
FB CAR & Core Capital(in %)
Re-cap.
CAR
13.67% 13.46% 13.27% 13.42%
12.82%
12.27%
11.50%
10.88%
Tier 1
10.93% 10.86% 10.95% 10.64% 11.25%
9.45%
9.02%
8.64%
1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17
1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17
----- End of picture text -----

  • 2H17 data adjusted by new risk-weight assets calculation.

  • Leverage ceiling for holding companies in Taiwan: Double Leverage < 125% ; Debt Ratio < 30%

30

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Shareholder Return

2015
2016
2017
0.95
1.20
0.90
0.45
0.20
0.10
1.40
1.40
1.00
64.2%
82.8%
70.9%
1.40
1.40
1.00
1.42
1.48
1.271
2015
2016
2017
2
1.20
1.35
1.18
1.43
2013
2014
FFHC Earnings Per Share ( in NT$ dollar )
EPS
Dividend		 1.40
1.40
1.00
1.42
1.48
1.271
2015
2016
2017
EPS
Dividend
2013
2014
2013
2014		 2015
2016
2017
2
Cash dividend
0.50
0.70		 0.95
1.20
0.90
Stock dividend
0.70
0.65		 0.45
0.20
0.10
Total dividend
1.20
1.35		 1.40
1.40
1.00
CASH Payout
ratio
42.4%
49.0%		 64.2%
82.8%
70.9%

  1. EPS is adjusted retroactively for stock dividends

  2. 2017’s dividend proposal is subject to final approval at 2018 AGM meeting on June 22.

31

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Appendix

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FFHC Consolidated Statement of Comprehensive Income

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FFHC Consolidated Statement of Comprehensive Income (in NT$ million or %)

IFRSs






Year-over-Year Comparison		 IFRSs






Year-over-Year Comparison		 IFRSs






Year-over-Year Comparison
~~2014~~
~~2015~~
~~2016~~
~~2016~~
28,278
28,452
28,801
28,801
7,428
8,502
8,723
8,723
(6,533)
121
1,351
1,351
1,373
1,152
2,569
2,569
172
146
163
163
417
541
951
951
(26)
(588)
(75)
(75)
2,172
1,707
935
935
(6)
(10)
(39)
(39)
911
825
1,712
1,712
34,186
40,848
45,091
45,091
(4,015)
(518)
(2,244)
(2,244)
7,101
540
(871)
(871)
(20,789)
(21,893)
(21,779)
(21,779)
16,483
18,976
20,197
20,197
(2,405)
(3,014)
(2,913)
(2,913)
14,078
15,962
17,284
17,284
3,420
413
(2,354)
(2,354)
17,497
16,375
14,930
14,930
14,085
16,006
17,356
17,356
(7)
(44)
(72)
(72)
17,542
16,461
15,023
15,023
(45)
(86)
(93)
(93)
1.43
1.48
1.42
1.42		 ~~2017~~ ~~Change~~
Net interest income
Net service fee & commission
Net Insurance revenue
Gain on financial assets meas.
at fair value through P/L
Real estate investment gain
Gain on AFS financial assets
Income from equity invest.
Net gain on F/X
Assets impairment loss
Others
Ner Revenue
Net Provision for credit losses
Recovered(provided) for insurance res.
Operating Expense
Income from continued op. before tax
Income tax expenses
Consolidatednetincome		 29,993
8,341
5,130
5,550
93
1,052
138
(170)
(46)
746
50,827
(6,772)
(4,560)
(21,347)
18,148
(2,716)
15,432		 4.1%
-4.4%
--
116.0%
-42.9%
10.6%
--
-118.2%
--
-56.4%
12.7%
--
--
-2.0%
-10.1%
-6.8%
-10.7%
Other Items
Comprehensive Income		 (1,038)
14,394		 -55.9%
-3.6%
Net Income attributed to:
Parent
Minorityinterests		 15,483
(51)		 -10.8%
--
Comprehensive Income attributed to:
Parent
Minorityinterests		 14,380
14		 -4.3%
-115.1%
EPS1(NT$)
1.27 -10.6%

33

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FFHC Non-consolidated Income Statement

FFHC Standalone Income Statement Summary in NT$ million, NT$, or %

in NT$ million, NT$, or %
Full Year Results Year-over-Year Comparison
2014 2015 2016 2016 **2017 ** Change
Operating revenues
Income from long-term investment 13,904 16,431 17,857 17,857 15,693 -12.1%
Other income1 289 213 242 242 246 1.7%
Total revenues 14,194 16,644 18,099 18,099 15,939 -11.9%
Loss from long-term investment (8) (114) (304) (304) (53) -82.6%
Operating expenses (264) (373) (338) (338) (334) -1.2%
Other expenses and losses (159) (192) (145) (145) (118) -18.6%
Income from continued op. before tax 13,763 15,965 17,312 17,312 15,434 -10.8%
Income from continued po. after tax 14,085 16,006 17,356 17,356 15,483 -10.8%
Income from discontinued op., net of tax 0 0 0 0 0 --
Net income 14,085 16,006 17,356 17,356 15,483 -10.8%
EPS2(NT$) 1.43 1.55 1.42 1.42 1.27 -10.6%

  1. Including income other than long-term investment

  2. EPS is adjusted retroactively for stock dividends

34

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FFHC Balance Sheet
FFHC Balance Sheet Summary
in NT$ million or million shares
2014
2015
2016
Non-consolidated Balance Sheet Data
Long-term investment
167,888
197,454
203,834
Total non-consolidated assets
172,071
201,923
205,165
Total liabilities
18,126
14,283
13,390
Total shareholders' equity
153,945
187,640
191,775
Conolidated Balance Sheet Data
Total consolidated assets
2,355,709 2,500,096
2,541,156
Total liabilities
2,201,332 2,312,109
2,349,127
Total shareholders' equity
154,377
187,987
192,029
Parent's shareholders' equity
153,945
187,640
191,775
Minority interests
432
347
254
Current shares outstanding
92,593
114,611
119,769
figures may not match due to rounding
Full Year Results*		 2016
2017 Change
203,834
205,970
1.0%
205,165
208,951
1.8%
13,390
17,168
28.2%
191,775
191,783
0.0%
2,541,156
2,634,059
3.7%
2,349,127
2,442,008
4.0%
192,029
192,051
0.0%
191,775
191,783
0.0%
254
268
5.5%
119,769
122,164
2.0%
Year-over-Year Comparison

35

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FFHC Key Ratios

==> picture [36 x 242] intentionally omitted <==

FFHC Key Ratios

==> picture [480 x 34] intentionally omitted <==

----- Start of picture text -----

Full Year Results Year-over-Year Comparison
2013 2014 2015 2016 2017 Change
----- End of picture text -----

Year-ove
Full Year Results		 r-Year Comp arison
2013
2014
2015
2016		 **2017 ** Change
After-tax ROAA (Annualized ratio)
0.50%
0.61%
0.66%
0.69%
After-tax ROAE (Annualized ratio)
7.94%
9.53%
9.32%
9.10%
Book Per Share
16.26
16.63
16.37
16.01
Capital Stock
86,535
92,593
114,611
119,769
Double leverage1
103.37%
109.06%
105.23%
106.29%
Group CAR2
123.04%
125.34%
153.43%
139.14%
Debt Ratio3
7.14%
10.53%
7.07%
6.53%		 0.60%
8.04%
15.70
122,164
107.40%
131.31%
8.24%		 -13.0%
-11.6%
-1.9%
2.0%
1.0%
-5.6%
26.2%

  1. Double leverage ratio = Long-term investment / Equity

  2. Updated semi-annually.

  3. Non-consolidated basis.

36

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FB Income Statement

FB Comprehensive Income Statement Summary(Standalone) in NT$ million or %

2014
2015
2016
2016
2017
Change
Net interest income
27,138
27,496
27,797
27,797
28,843
3.8%
Net fee income
6,190
7,790
8,035
8,035
7,457
-7.2%
Net gain on ST invest.
(151)
(49)
274
274
398
45.3%
Net gain on LT invest.
666
177
433
433
719
66.1%
Net gain on other fin. products
3,496
2,823
4,344
4,344
5,256
21.0%
Other net income
181
349
654
654
241
-63.1%
Net revenue
37,520
38,586
41,537
41,537
42,914
3.3%
Operating expenses
(17,736)
(18,997)
(18,963)
(18,963)
(18,466)
-2.6%
Pre-provisiion pre-tax profit
19,784
19,589
22,574
22,574
24,448
8.3%
Provision expense
(6,161)
(3,027)
(4,396)
(4,396)
(9,621)
118.9%
Adjustment: bad-debt recovery
2,240
2,554
2,346
2,346
2,782
18.6%
Income before tax
15,862
19,115
20,524
20,524
17,609
-14.2%
Income tax
(2,481)
(3,015)
(2,825)
(2,825)
(2,467)
-12.7%
Net income
13,381
16,100
17,699
17,699
15,142
-14.4%
Other items
3,242
995
(2,100)
(2,100)
(1,214)
-42.2%
Comprehensive income
16,623
17,095
15,599
15,599
13,946
-10.6%
EPS
1.81
1.93
1.99
1.99
1.70
(0.15)
Year-over-Year Comparison
IFRSs		 2014
2015
2016
2016
2017
Change
Net interest income
27,138
27,496
27,797
27,797
28,843
3.8%
Net fee income
6,190
7,790
8,035
8,035
7,457
-7.2%
Net gain on ST invest.
(151)
(49)
274
274
398
45.3%
Net gain on LT invest.
666
177
433
433
719
66.1%
Net gain on other fin. products
3,496
2,823
4,344
4,344
5,256
21.0%
Other net income
181
349
654
654
241
-63.1%
Net revenue
37,520
38,586
41,537
41,537
42,914
3.3%
Operating expenses
(17,736)
(18,997)
(18,963)
(18,963)
(18,466)
-2.6%
Pre-provisiion pre-tax profit
19,784
19,589
22,574
22,574
24,448
8.3%
Provision expense
(6,161)
(3,027)
(4,396)
(4,396)
(9,621)
118.9%
Adjustment: bad-debt recovery
2,240
2,554
2,346
2,346
2,782
18.6%
Income before tax
15,862
19,115
20,524
20,524
17,609
-14.2%
Income tax
(2,481)
(3,015)
(2,825)
(2,825)
(2,467)
-12.7%
Net income
13,381
16,100
17,699
17,699
15,142
-14.4%
Other items
3,242
995
(2,100)
(2,100)
(1,214)
-42.2%
Comprehensive income
16,623
17,095
15,599
15,599
13,946
-10.6%
EPS
1.81
1.93
1.99
1.99
1.70
(0.15)
Year-over-Year Comparison
IFRSs		 2014
2015
2016
2016
2017
Change
Net interest income
27,138
27,496
27,797
27,797
28,843
3.8%
Net fee income
6,190
7,790
8,035
8,035
7,457
-7.2%
Net gain on ST invest.
(151)
(49)
274
274
398
45.3%
Net gain on LT invest.
666
177
433
433
719
66.1%
Net gain on other fin. products
3,496
2,823
4,344
4,344
5,256
21.0%
Other net income
181
349
654
654
241
-63.1%
Net revenue
37,520
38,586
41,537
41,537
42,914
3.3%
Operating expenses
(17,736)
(18,997)
(18,963)
(18,963)
(18,466)
-2.6%
Pre-provisiion pre-tax profit
19,784
19,589
22,574
22,574
24,448
8.3%
Provision expense
(6,161)
(3,027)
(4,396)
(4,396)
(9,621)
118.9%
Adjustment: bad-debt recovery
2,240
2,554
2,346
2,346
2,782
18.6%
Income before tax
15,862
19,115
20,524
20,524
17,609
-14.2%
Income tax
(2,481)
(3,015)
(2,825)
(2,825)
(2,467)
-12.7%
Net income
13,381
16,100
17,699
17,699
15,142
-14.4%
Other items
3,242
995
(2,100)
(2,100)
(1,214)
-42.2%
Comprehensive income
16,623
17,095
15,599
15,599
13,946
-10.6%
EPS
1.81
1.93
1.99
1.99
1.70
(0.15)
Year-over-Year Comparison
IFRSs
2017 Change
28,843
7,457
398
719
5,256
241
42,914
(18,466)
24,448
(9,621)
2,782
17,609
(2,467)
15,142		 3.8%
-7.2%
45.3%
66.1%
21.0%
-63.1%
3.3%
-2.6%
8.3%
118.9%
18.6%
-14.2%
-12.7%
-14.4%
(1,214)
13,946		 -42.2%
-10.6%
1.70 (0.15)

37

==> picture [181 x 31] intentionally omitted <==

FB Key Ratios

FB Key Ratios FB Key Ratios FB Key Ratios FB Key Ratios FB Key Ratios FB Key Ratios FB Key Ratios FB Key Ratios
FB K Rti
ey aos Year-over-Year Comarison
Full Year Results

p
2014
2015
2016
2016
1.55%
1.63%
1.65%
1.65%
1.28%
1.26%
1.26%
1.26%
47.27%
49.23%
45.65%
45.65%
83.03%
76.88%
79.04%
79.04%
0.20%
0.19%
0.20%
0.20%
1.24%
1.19%
1.16%
1.16%
1.37%
1.40%
1.22%
1.22%
680.71%
751.03%
625.14%
625.14%		 2017
Loan to deposit spread
Net Interest Margin
Cost to income ratio3
Loan to deposit ratio1
NPL ratio
Gross Provision ratio
LLR ratio (excluding gov. loan)
Coverage ratio		 1.65%
1.26%
43.03%
79.28%
0.38%
1.29%
1.38%
358.56%
CAR 11.50%
13.67%
13.27%
13.27%		 13.42%
Tier-1 9.02%
10.93%
10.95%
10.95%		 11.25%
ROAA2
0.59%
0.69%
0.72%
0.72%
ROAE2
9.40%
9.56%
9.46%
9.46%
1. Loan to depoist ratio = total loan / total deposit
2. Annualized figures.		 0.60%
7.91%

38

==> picture [181 x 31] intentionally omitted <==

FB Loan Quality

F ~~B NPL Migration~~ in NT$ million or %

F
in
N		 ~~PL Migration~~
T$ million or %		 ~~PL Migration~~
T$ million or %		 ~~PL Migration~~
T$ million or %		 ~~PL Migration~~
T$ million or %		 ~~PL Migration~~
T$ million or %
2015
2016
2,951
2,761
2,201
6,166
1,306
4,611
895
1,555
(2,391)
(5,892)
2,761
3,035
20,089
20,738
2,919
4,238
(2,391)
(5,892)
121
(111)
20,738
18,973
2,554
2,346
2,213
2,075
282
214
59
57
Full Year Results		 Q1
Q2
Q3
Q4
2016
2017
Change
3,035
3,385
3,724
3,752
2,761
3,035
9.9%
1,700
1,379
908
3,238
6,166
7,225
17.2%
1,320
1,385
880
3,159
4,611
6,744
46.3%
380
(6)
28
79
1,555
481
-69.1%
(1,350)
(1,040)
(880)
(876)
(5,892)
(4,146)
-29.6%
3,385
3,724
3,752
6,114
3,035
6,114
101.4%
18,973
18,205
18,561
18,762
20,738
18,973
-8.5%
775
1,374
1,188
4,092
4,238
7,429
75.3%
(1,350)
(1,040)
(880)
(876)
(5,892)
(4,146)
-29.6%
(193)
22
(107)
(56)
(111)
(334)
200.9%
18,205
18,561
18,762
21,922
18,973
21,922
15.5%
424
1,310
511
537
2,346
2,782
18.6%
369
1,169
496
499
2,075
2533
22.1%
43
128
1
25
214
197
-7.9%
12
13
14
13
57
52
-8.8%
Year-over-Year Comparison
2017 Quarterly
2017 Change
N
N		 PL-
Net
D
O
Net
PL-
low
Pro
Net
Oth
low
eco
D
O
 beginning
new NPL influx
omestic
verseas
write-offs
ending balance
ance for loan loss- beginning
visions for loan loss
write-offs
ers
ance for loan loss- ending
very from bad debt
omestic
verseas
redit card		 3,035
7,225
6,744
481
(4,146)
6,114
18,973
7,429
(4,146)
(334)
21,922
2,782
2533
197
52		 9.9%
17.2%
46.3%
-69.1%
-29.6%
101.4%
-8.5%
75.3%
-29.6%
200.9%
15.5%
18.6%
22.1%
-7.9%
-8.8%
Al lo

Al
R
1. No n-consolidated basis
  1. Non-consolidated basis

39

==> picture [181 x 31] intentionally omitted <==

First Sec. Operating Report

First Securities Financial Results Summ
Fi st Securities Financial Results Summ

40

==> picture [181 x 31] intentionally omitted <==

FSITC Operating Report

FSITC Income Statement Summary in NT$ million or %

Year-over-Year Comparison Year-over-Year Comparison Year-over-Year Comparison
2016 2017 Change
440
5
445
(380)
11
76
(12)
64
0
64		 501
7
508
(440)
15
82
(12)
70
0
70		 13.9%
40.0%
14.2%
15.8%
36.4%
7.9%
0.0%
9.4%
--
9.4%
y
FSITC Key Ratios
AUM
74,577
72,651
97,016
AUM Ranking
10
11
8		 94,461 101,095 7.0%
--
8 8
1. Non-consolidated basis

41

==> picture [181 x 31] intentionally omitted <==

First Life Operating Report

FirstLifeOperating Report FirstLifeOperating Report FirstLifeOperating Report FirstLifeOperating Report
First Life Financial Results Summary
in NT$ million or %
2017
13,298
11,684
277
1,337
12,861
40
4,566
7,419
711
125
(566)
(134)
(432)
0
Profit/Loss of Operation
(24)
(25)
(89)
(150)
Non-Operating Profit
0
11
0
0
Profit/Loss Before Tax
(24)
(14)
(89)
(150)
Income tax
0
(1)
(1)
3
Net Income after tax
(24)
(15)
(90)
(147)
Key Ratios
ROAE(Annualized ratio)
-2.21%
-1.60%
-11.26%
-23.91%
ROAA(Annualized ratio)
-0.09%
-0.05%
-0.28%
-0.45%
* In Dec. 2017, FFHC announced to acquire Aviva's 49% ownership, valid from Jan. 2018.		 (129)
0
(129)
26
(103)
-19.39%
-0.30%

42

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==> picture [375 x 44] intentionally omitted <==

Q&A

==> picture [720 x 26] intentionally omitted <==

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