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First Financial Holding Co. Ltd. Interim / Quarterly Report 2013

Nov 28, 2013

52222_rns_2013-11-28_7034c82c-a548-4e7b-a6c6-4e4eb0ca8e0c.pdf

Interim / Quarterly Report

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First Financial Holding 3Q 2013 Earnings Result

November 28, 2013

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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

  • At a Glance

  • Financial Highlight

  • Operating Results

  • Overseas Theme

  • Appendix

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At a Glance

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3Q 2013 Performance Review

- Total Loan Book Growth/Adjustment on Track :

Loan book ↑ 2.5%, NII Continued to Expand, portfolio adjustment toward “INTEREST-RATE SENSITIVE MODE”

  • 3Q13 Loan growth mainly driven by non-manufacturing sectors & F/X Loan:

Rumor of QE exit sparked a soaring F/X Loan and warming domestic segments help boost loan demand. ( Hotel, Transportation.. etc)

- 3Q13 Wealth Management Regained Steam:

Bancassurance FEE INCOME ↑ 50%, QoQ, while mutual fund sales continued to rebound, momentum shall sustain till 1H2014.

- Core Earnings Remained Intact:

NII & Fee Income Total expanded ↑ 3.3%, QoQ, （↑ 6.8% YoY ） .

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FB Core Earnings & F/X Loan Contribution

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Net Interest Income, Fee Income (NT$ mn )
Net Interest Income Fee Income Total Core Earnings
7,688
7,387 7,444
7,199 7,264
6,083 6,039 6,065 6,267
6,132
1,116 1,348 1,199 1,312 1,421
3Q12 4Q12 1Q13 2Q13 3Q13
F/X & Overseas Branches Loan book (NT$ mn o)
F/X Loan Balance Overseas Branches Loan Bal.
44.1%
Overseas Portfolio (% of F/X loan) 43.1%
43.4%
41.7% 42.5%
264.6 260.2 267.3 273.2 283.2
110.4 110.7 115.9 117.7 124.9
3Q12 4Q12 1Q13 2Q13 3Q13
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3Q 2013 Financial Highlight

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3Q 2013 Key Figures
3Q13 Net Income Breakdown1 ( inNT$ mn) Key Figures( in NT$ dollar, NT$ mn, mn shares or %)
Investment Trust
NT$78; 0.8%
AMC
NT$141;1.5%		 Others
NT$(90);-1.0%
Insurance
NT$97; 1.0%		 Consolidated Net Income
Comprehensive Income2		 3Q13
9,2931
9,4212
3Q12
9,1221
8,912		 YoY %
1.9%
5.7%
Total Assets 2,207,909
2,092,732		 5.5%
EPS 1.07
1.06		 0.9%
Securities
NT$90; 1.0%		 Banking
NT$8,977; 96.7%		 Book per share
Capital Stock
ROAE
3
ROAA
3
Group CAR4
Double Leverage5		 15.94
86,535
9.13%
0.57%
122.92%
103.38%
16.44
81,254
9.20%
0.57%
124.35%
104.13%		 -3.0%
6.5%
-0.8%
0.0%
-1.4%
-0.7%

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Net Income & Comprehensive Income

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3Q 2013 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (1,581)
Insurance 594
26,458
(987) (14,035)
1.9%
↑
(2,143)
9,293 9,421
128
Net Revenue Provision Operating Income Tax Net Income Other Items Comprehensive
Expense Income
3Q 2012 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (1,830)
Insurance 304
26,428
(14,055)
(1,526)
(1,724) 9,122 8,912
(210)
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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3Q 2013 FFHC Net Income Breakdown (in NT$ mn)
↑ 1.9%
↑ 0.1%
9,293
8,977
↑ 210.3% ↑ 41.0%
FFHC 49
Aviva 48
90 78 141
97
First Bank First Securities FSITC First-Aviva First AMC FFHC
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3Q 2012 FFHC Net Income Breakdown (in NT$ mn)
8,968 9,122
FFHC (13)
Aviva (12)
29 74 (25) 100
First Bank First Securities FSITC First-Aviva First AMC FFHC
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3Q 2013 Operating Results

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FFHC & First Bank Profitability -After Tax

FFHC Net Income & ROAE (in NT$ mn & %)

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Cumulative Net Income Annualized ROAE
10.46%
9.80% 9.20% 8.80% 9.48% 9.13%
8.26%
7.44% 7.73% 7.73%
6.38%
9,016 10,118 9,293
6,810 7,471 6,680 6,361
4,428
2,000 3,131 2,970
3M 11 6M 11 9M 11 2011 3M 12 6M 12 9M 12 2012 3M 13 6M 13 9M 13
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First Bank Net Income & ROAE (in NT$ mn & %)

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Cumulative Net Income Annualized ROAE
11.14%
9.52% 9.53% 10.16% 9.73% 9.44% 9.84% 9.49%
8.52% 8.12% 8.58%
10,375
8,625 8,880 8,977
7,609
6,551 6,144
4,609
2,972 2,962
2,059
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FB 3Q 2013 Pre-tax Profit

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|||||||||
|---|---|---|---|---|---|---|---|
|3Q13 Cumulative Net Revenue|(in NT$ mn or %)|% of FB Income before Tax (in %)|
|Item|3Q12|3Q13|Change|
|24,488|NII|73.7%|75.4%|+1.7%|
|Net Fee|14.7%|16.1%|+1.4%|
|Gain on ST Invest.|1.4%|0.2%|-1.2%|
|24,415|Gain on LT invest.|2.5%|2.6%|+0.1%|
|Gain on fin. Products|6.7%|5.6%|-1.1%|
|+0.3%|
|Others|1.0%|0.1%|-0.9%|
|Total Revenue|[1]|100.0%|100.0%|
|Provision Expensez|[2]|-15.9%|-16.8%|+0.9%|
|3Q12|3Q13|Adjustment :Recovery|+8.6%|+10.8%|+2.2%|
|Cumulative Net Revenue*|Operating Expense|-49.5%|-49.4%|-0.1%|
|Income Before Tax|43.2%|44.6%|+1.4%|
|FB Revenue/Expense Comparison|( NT$mn )|
|↑|2.7%|
|17,986|18,464|
|↑|9.8%|12,086|12,093|
|↓|20.9%|↑|6.2%|
|↑|25.1%|
|↓|32.8%3,582|3,932|2,608|2,062|3,879|4,120|2,635|
|2,106|
|3Q12 3Q13|3Q12 3Q13|3Q12 3Q13|3Q12 3Q13|3Q12 3Q13|3Q12 3Q13|
|Gains on|
|Net Interest Income|Net Fee Income|Provision Exp.|[2]|Recovery|Operating Exp.|
|investment|

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FB 3Q 2013 Loan Book Mix

3Q13 Loan Book1 (in NT$ bn or %)
1,403.3
1,438.2
3Q12
3Q13
Loan Book1
+2.5%		 3Q13 Loan Book1 (in NT$ bn or %)
1,403.3
1,438.2
3Q12
3Q13
Loan Book1
+2.5%		 % of Loan Book1
Item
3Q12
3Q13
Change
Consumer
27.0%
28.1%
+1.1%
Mortgage
26.1%
27.0%
+0.9%
Other Consumer Loan
0.9%
1.1%
+0.2%
Corporate Banking
73.0%
71.9%
-1.1%
Commercial Loan
49.2%
47.6%
-1.6%
--- SME
36.4%
37.3%
+0.9%
F/X/ Loan
18.9%
19.7%
+0.8%
--- Overseas
7.9%
8.7%
+0.8%
Gov./SOE Loan
4.9%
4.6%
-0.3%
Loan Book1
100.0%
100.0%

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3Q13 Loan Book [1 ] Breakdown (in NT$ bn )
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3Q13 Loan Book Breakdown (in NT$ bn ) ↓ 0.7% 685.3
690.3
↑ 5.6%
388.0
SME ↑ 5.1% ↑ 7.0%
264.6 283.2
↓ 2.6% SME [2] Overseas
367.3 SME [2] 126.9
510.6
66.5 536.4
Overseas Overseas
12.8 15.2 68.3 110.4 124.9
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FB Loan Breakdown

-QoQ Comparison

FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn)
Total loan 1,380.2 1401.5 1403.3 1438.4 1430.6 1442.9 1438.2
QoQ% YTD%
SME 500.2 514.2 510.6 523.5 520.6 524.6 536.4 +2.2% +2.5%
244.2 259.1 264.6 260.2 267.3 273.2 283.2 +3.7% +8.8%
F/X loan 103.6 95.2 68.3 92.0 88.5 85.1 66.5 -22% -28%
Gov/SOE
Mortgage		 351.5 358.6 367.3 377.9 385.3 387.9 388.0 FLAT +2.7%
+0.4% -1.3%
Commercial 669.7
 676.3 690.3 694.5 676.2 682.4 685.3
Loan2
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

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FB 3Q 2013 Total Loan & NIM

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Total Loan & LDR (in NT$ bn or % )
89.49%
88.28% 88.71% 88.51% 88.29%
Total Loan [1] LDR [2] 86.36% 86.05% 86.54%
84.21% 84.72%
83.47%
78.14%
76.51% 1,447.7
1,206.0 1,260.1 1,320.8 1,322.0 1,370.6 1,360.7 1,386.3 1,408.0 1,410.3 1,445.2 1,437.3 1,449.2
3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3q13
△
Loan-Deposit Spread / NIM ( in % )
Adjusted Spread & NIM
Spread [3] NIM [3]
1.52% 1.53% 1.54%
1.47% 1.48% 1.49%
1.45%
1.41% 1.40% 1.40% 1.41% 1.51% 1.52%
1.38% 1.50%
1.36%
1.26%
1.26% 1.26%
1.20% 1.20% 1.21%
1.18%
1.07% 1.10% 1.10% 1.10% 1.23% 1.23% 1.23%
1.02%
0.99%
3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
IF
RS
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FB 3Q 2013 Loan Yields

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FB NTD Yields & Costs Overview ( in % ) Loan Rate (NTD) Deposit Rate (NTD)
Spread (NTD)
2.06% 2.06% 2.06% 2.09% 2.10% 2.10% 2.09% 2.10% 2.11%
2.01%
1.92% 1.89%
1.50%
1.35% 1.30% 1.36% 1.38% 1.38% 1.37% 1.40% 1.41% 1.42% 1.47% 1.48%
0.64% 0.68% 0.68% 0.69% 0.69% 0.69% 0.68%
0.59% 0.62% 0.62% 0.61%
0.57%
4Q10 1Q 11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
FB FX Yields & Costs Overview ( in % )
Loan Rate (FX) Deposit Rate (FX)
Spread (FX)
2.49%
2.33% 2.38% 2.31% 2.43% 2.25% 2.29% 2.42%
2.14% 2.10% 2.14% 2.16%
1.97%
1.77% 1.69% 1.73% 1.70% 1.74% 1.84% 1.82% 1.90% 1.74% 1.76% 1.83%
0.59% 0.59%
0.54% 0.49% 0.53% 0.52% 0.51% 0.53%
0.46%
0.41% 0.41%
0 37%
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FB 3Q 2013 Mortgage Book

3Q13 Mortgage by 3Q13 Mortgage by Location(in %) Location(in %) Mortgage Yield & LTV Mortgage Yield & LTV Mortgage Yield & LTV Mortgage Yield & LTV Mortgage Yield & LTV Mortgage Yield & LTV Mortgage Yield & LTV Mortgage Yield & LTV Ratio(in %) Ratio(in %) Ratio(in %)
Location 3Q13 Loan-to-value ratio of new mortgage Avg. loan-to-value ratio
North 70% Mortgage Yield
TPE Metro 54%
Taoyuan/Hsinchu/
Mioli		 16% **2.24% 2.22% ** **2.20% ** **2.18% ** **2.16% ** **2.15% ** **2.15% ** 2.15%
Central 10%
Taichung **70.53% ** 70.97%
South 16% **67.01% ** **66.67% ** **66.68% ** **67.14% ** **66.82% ** 66.23%
Tainan/Kaohsiung
East		 4% **51.64% ** **51.66% ** **48.89% ** **48.74% ** **48.87% ** **49.09% ** **48.77% ** 48.14%
Total 100.0%
Mortgage NPL(in %) 2011 3M12 6M12 9M12 2012 3M13 6M13 9M13
Mortgage NPL ↑4.3%
0.58% 0.50% 0.41% 0.38%
0.30%		 0.27% SME2
317.0
0.23%
0.23%		 SME2
305.0
0.21%
0.17%		 ↑17.2%
0.17%
0.16%
4Q10 1Q11 2Q11 3Q11
4		 Q1 1 1 Q1 2 2Q1 2
3Q1		 2 4Q 12
1		 Q13 2 Q13 3Q1 3

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FB Mortgage Book LTV Ratio
Mortgage LTV Ratios Analysis(in %) Mortgage LTV Analysis:
LTV Ratio # of Percentage
(by cases)		 - Data are as of end of Sep. 2013
- Calculated by mortgage collaterals
<50% 51.56% - LTV ratio not adjusted, based on
50%~60% 14.37% initial evaluation data.
60%~70% 16.27%
70%~80% 15.97%
80%~90% 1.83%
Total 100.00%
Mortgage Balance(in NT$ bn ) Mortgage Balance
■
350.0 351.5 358.6 367.3
377.9		 385.3 387.9 388.0
2011 3M12 6M12 9M12
2		 0 12 3M13 6M13 9M13

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Major Exposures to Specific Industries

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End of 3Q13 - % of Loan to Industries
Total Loan Bal. [1] : NT$1,447.7 bn
Manufacturing (28.37%) Non-Manufacturing (71.63%)
5.94% Petro. Hotel&
1.27%
Restaurant
5.12% Metal
Wholesale/Retail
8.06% Tech. 10.64%
1.12% Solar Real Estate 6.38%
1.54% TFT-LCD
Transportation
6.41%
& Warehousing
0.23% LED
Shipping 2.09%
0.44% DRAM
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FB 3Q 2013 Fee Income Breakdown
3Q 2013 Cumulative Net Fee Income(in NT$ mn or %) % of Cumulative Net Fee
3,932 Item
WM1		 3Q12
44.4%		 3Q13
46.3%		 Change
+1.9%
+9.8% F/X 18.3% 17.2% -1.1%
3,582 Other2 14.3% 13.3% -1.0%
3Q12
3Q13		 Loan-related
Credit Card		 15.9%
7.1%		 16.7%
6.5%		 +0.8%
-0.6%
Net Fee Income Cumulative Net Fee 100.0% 100.0%
3Q13 Cumulative Net Fee Breakdown( in NT$ mn )
↑14.3%
1,592 1,820 ↑15.3% ↑2.9% ↑2.0% ↑2.1%
↓23.7% 569 656 ↑3.0%
656
675		 253 258 512 523
3Q12 3Q13 3Q12 3Q13 3Q123Q13 3Q12 3Q13 3Q12 3Q13
WM Fee 1 Loan -related F/X Credi t Card Oth er2

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FB Fee Income Breakdown

-QoQ Comparison

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|||||||
|---|---|---|---|---|---|
|Fee Income|(in NT$mn)|
|QoQ% +8.3%|
|Fee|1,292|1,349|1,312|1,421|
|1,199|
|Income|1,116|
|194|
|145|
|165|
|166|
|Others*|92|87|
|164|85|
|85|
|Credit Card|183|217|86|228|
|227|
|225|
|F/X|86|
|Related|220|
|226|
|259|
|Loan|213|218|222|
|Related|208|
|182|Bancassurance|
|QoQ% +50.1%|
|Wealth|686|
|603|636|613|
|MGT.|521|
|447|
|2Q12|3Q12|4Q12|1Q13|2Q13|3Q13|

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FB 3Q 2013 Cost-to-Income Ratio
3Q 2013 Cumulative Operating Expense(in NT$ mn ) Cost-to-Income Ratio Analysis( in NT$ mn)
Item 3Q12
Restate figures for		 3Q13
12,093 Net Revenue
YoY		 24,415
comparison		 24,488
12,086
+0.1%		 Operating Expense
Provision(Net)		 (12,086)
(1,773)		 (12,093)
(1,485)
Income Tax (1,588) (1,932)
3Q12
3Q13
Operating Expense		 Net Income 8,968 8,977
Quarterly Operating Expense & Cumulated Cost-to-Income Ratio( in NT$ mn or % )
49.31%
Net		 50.06%
Revenue		 50.18%
49.49%
Operating Expense		 49.50%
Cost-to-Income Ratio		 51.53% 51.30% 49.38%
46.63%
8,167 7,271 7,921 8,314 8,180
7,730		 7,672 8,101 8,715
4,248 3,817 3,975 4,061 4,050 4,041 3,953 4,138 4,002
3 Q1 1 4Q11 1Q1 2 2Q1 2 3 Q12 4Q12 1Q13 2Q1 3 3 Q13

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FB 3Q 2013 Asset Quality

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NPL Amount, Reserve, Coverage (in NT$ mn or % )
Gross Provision Ratio
(loss reserve against performing loan)
Coverage Ratio LLR ratio (loan loss reserve/total loan, excluding gov.loan)
238.38% 248.97%
217.90% 233.17% 228.97%
211.76% 207.78%
191.46%
1.29%
1.09% [1.17%] 1.25% 1.22%
1.01% 1.01% 1.04%
NPL Ratio NPL NPL Reserve
0.64%
0.47% 0.47% 0.50% 0.50% 0.50%
0.44% 0.44%
13,886 14,443 15,992 16,889 16,604 17,778
14,077 14,782
9,286
6,373 6,059 6,648 7,114 6,423 7,243 7,252
2011 3M12 6M12 9M12 2012 3M13 6M13 9M13
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FB NPL Migration by Sectors
Individual & Mortgage NPL ratios Large Corp. & SME NPL ratios
Individual Large Corp.
SME
0.31% 0.25% 0.20% 0.18% 0.18%
Mortagage		 0.77% 0.70% 0.70% 0.64% 0.64%
0.23% 0.21% 0.17% 0.16% 0.17% 0.50% 0.49% 0.55% 0.58% 0.55%
3Q12 4Q12 1Q13 2Q13 3Q13
3Q12 4Q12 1Q13 2Q13 3Q13
Domestic & Overseas NPL ratios Total NPL ratio
Total NPL
Domestic Overseas
2.03%
1.09% 1.12% 0.64%
0.73% 0.70% 0.50% 0.44% 0.50% 0.50%
0.4
3Q		 7
 %
12		 0.
4		 4
Q		 0
 %
12		 0.41%
1Q13		 0.40%
2Q13		 0.39%
3Q13		 3 Q 12 4 Q12 1Q13 2Q1 3 3Q13

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TMT NTD 3.6 bn FB 3Q 2013 Asset Quality

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|||||||||
|---|---|---|---|---|---|---|---|
|Breakdown of New NPL Influx|(in NT$ mn|）|Quarterly Recovery Mix|(in NT$ mn)|
|Quarterly NPL Influx|1Q13|2Q13|3Q13|
|Quarterly Recovery|1Q13|2Q13|3Q13|
|--- from Domestic|(49)|343|448|--- from Domestic|784|381|500|
|--- from Overseas|1,100|1,054|2,262|--- from Overseas|83|687|148|
|----from Credit Card|20|14|17|
|Total NPL Influx|1,051|1,397|2,710|Total Recovery|887|1,083|665|
|Quarterly New NPL Influx & Write-offs|( in NT$ mn)|
|Write-off|New NPL Influx|
|0.15%|
|0.09%|
|0.07%|
|0.00%|0.00%|0.00%|2,710|
|2,137|
|1,548|1,337|1,3881,397|
|1,051|
|831|871|
|682|676|
|342|231|
|28|(9)|

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CAR & Core Capital

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FFHC Group CAR
Re-Cap
NTD 16.4 bn
CAR
125.55%
120.19% [123.71%] 119.69% 123.00% 119.40% [122.92%]
117.99% 117.05%
115.14%
111.50%
statutory CAR 100%
FB CAR & Core Capital
Re-Cap
NTD 15 bn
CAR
10.88% 10.91% 11.01% 10.94% 11.51% 11.03% 10.95%
10.01% 10.36% 10.14% 10.44%
Tier 1
8.28% 8.23% 8.41% 8.34% 8.37%
7.10% 7.08% 7.45% 7.13% 7.00% 6.82%
2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 2H12 1H13 3Q13
2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 2H12 1H13 3Q13
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Overseas Theme

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FB 3Q 2013 Overseas Profits

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3Q13 FB Overseas Pre-Tax Profit Mix ( in % ) 3Q13 FB Total Pre-Tax Profit Chart ( in NT mn & %)
-4.4%; OBU
Domestic Branches;
80.1%
Others;
3Q13 Overseas 15.0%
Total Pre-Tax
Pre-Tax 17.0%; HK
Profit
75.3%; $2,175 mn
Others $10,909 mn
Greater China;
10.2%; Shanghai 4.9%
1.9%; Macau
Quarterly Overseas & Total PTP (in NT$ mn or %)
Overseas Total Cumulative Overseas PTP to FB Total PTP
37.6% 34.6% 36.9%
30.6% 27.3% 30.6% 27.3%
21.2% 19.9%
4,214 3,895 3,496
3,160 3,532 2,749 3,518
3,077
1,759
1,381
836 1071 1,223 1,669 1,040 568 745 1,280
85 150
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Our Leasing Operations in China

Suzhou Leasing 3Q13 Results- Pre-Tax Profit & Balance of Leasing Portfolio (in RMB)

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FCB Leasing Suzhou Accumulated Pre-tax Profit Leasing Balance (in RMB mn)
(in RMB ‘000)
354
Grand-opened in Mar. 2011 340
262
226
19,026
10,798
5,103 5,474
2012 1Q13 1H13 3Q13
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Chengdu Leasing 3Q13 Results- Pre-Tax Profit & Balance of Leasing Portfolio (in RMB)

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First Leasing Chengdu Accumulated Pre-tax Profit Leasing Balance (in RMB mn)
(in RMB ‘000)
322
305
Grand-opened in Jan. 2012 217
130
6,052
3,236 (164)
122
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Appendix

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FFHC Comprehensive Statement of Income

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

~~Full Year Results~~ ~~Year-over-Year Comparison~~ ~~Year-over-Year Comparison~~ ~~Year-over-Year Comparison~~
2010
2011
2012		 3Q12 3Q13 Change
Net interest income
18,790
Net service fee & commission
4,493
Net Insurance revenue
(234)
Gain on financial assets meas.
1,277
at fair value through P/L
Real estate investment gain
69
Gain on AFS financial assets
543
Gain on HTM financial assets
1
Income from equity invest.
31
Net gain on F/X
428
Assets impairment loss
(2)
Others
1,032
Ner Revenue
26,428
Net Provision for credit losses
(1,830)
Recovered(provided) for insurance re
304
Operating Expense
(14,055)
Income from continued op. before t
10,846
Income tax expenses
(1,724)
Consolidated net income
9,122		 19,219
4,774
(307)
666
63
307
(8)
103
949
0
692
26,458
(1,581)
594
(14,035)
11,436
(2,143)
9,293		 2.3%
6.3%
31.2%
-47.8%
-8.7%
-43.5%
-900.0%
232.3%
121.7%
-100.0%
-32.9%
0.1%
-13.6%
-95.4%
-0.1%
5.4%
24.3%
1.9%
Other Items
(210)
ComprehensiveIncome
8,912		 128
9,421		 --
5.7%
Net Income attributed to:
Parent
9,134
Minorityinterests
(12)		 9,245
48		 1.2%
--

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FFHC Non-consolidated Income Statement

FFHC Standalone Income Statement Summary in NT$ million, NT$, or %
HC Standalone Income Statement Summary
NT$ million, NT$, or %
Full Year Results Q1
Q2
Q3
3,058
3,320
2,998
5
210
6
3,062
3,532
3,003
(6)
(2)
8
(58)
(63)
(62)
(36)
(36)
(36)
2,963
3,430
2,913
2,963
3,369
2,913
0
0
0
2,963
3,369
2,913
0.36
0.37
0.34
2013 Quarterly		 Year-over-Year Comparison
2010
2011
2012		 3Q12 3Q13 Change
Ope
In
O
T
Los
Ope
Oth
Inco
Inco
Inco
Net
EPS		 rating revenues
come from long-term investment
7,299
8,857
10,634
ther income1
222
238
252
otal revenues
7,521
9,095
10,886
s from long-term investment
(73)
(992)
(337)
rating expenses
(215)
(235)
(230)
er expenses and losses
(205)
(228)
(145)
me from continued op. before tax
7,027
7,641
10,174
me from continued po. after tax
7,032
7,602
10,174
me from discontinued op., net of t
0
0
0
income
7,032
7,602
10,174

2(NT$)
0.96
1.01
1.25		 9,193
247
9,440
(13)
(185)
(108)
9,134
9,134
0
9,134
1.06		 9,376
221
9,597
0
(183)
(108)
9,306
9,245
0
9,245
1.07		 2.0%
-10.5%
1.7%
--
1.1%
0.0%
1.9%
1.2%
--
1.2%
0.9%
  1. Including income other than long-term investment 2. EPS is adjusted retroactively for stock dividends

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FFHC Balance Sheet

FFHC Balance Sheet Summary in NT$ million or million shares

Full Year Results Full Year Results 2013 Quarterly 2013 Quarterly Year-over-Year Comparison Year-over-Year Comparison Year-over-Year Comparison
2010 2011 2012 Q1 Q2 3Q12 3Q13 Change
Non-consolidated Balance Sheet Data
Long-term investment 106,075 127,331 135,490 141,812 140,615 136,618 142,625 4.4%
Total non-consolidated assets 119,493 135,716 143,073 145,459 149,252 140,288 148,623 5.9%
Total liabilities 13,496 8,999 9,164 9,226 13,956 9,087 10,660 17.3%
Total shareholders' equity 105,997 126,717 133,909 136,233 135,296 131,201 137,963 5.2%
Conolidated Balance Sheet Data
Total consolidated assets 2,048,867 2,080,970 2,118,538 2,147,634 2,170,366 2,092,732 2,207,909 5.5%
Total liabilities 1,942,118 1,953,609 1,984,050 2,010,831 2,034,545 1,960,898 2,069,420 5.5%
Total shareholders' equity 106,749 127,361 134,488 136,803 135,821 131,834 138,488 5.0%
Parent's shareholders' equity 105,997 126,717 133,909 136,233 135,296 131,201 137,962 5.2%
Minority interests 752 644 579 571 525 633 526 -16.9%
Current shares outstanding 64,768 76,654 81,254 81,254 81,254 81,254 86,535 6.5%

*figures may not match due to rounding

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FFHC Key Ratios

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FFHC Key Ratios

FFHC Key Ratios
2010
2011
2012
0.35%
0.36%
0.48%
6.67%
6.38%
7.73%
16.37
16.53
16.48
64,768
76,654
81,254
103.77%
103.58%
104.11%
117.99%
123.00%
125.55%
11.29%
6.63%
6.41%
Full Year Results		 3M
6M
0.56%
0.60%
8.80%
9.48%
16.76
16.65
81,254
81,254
104.09%
103.93%
126.26%
119.40%
6.34%
9.35%
2013 Quarterly		 Year-over-Year Comparison
3Q12 3Q13 Change
After-tax ROAA (Annualized ratio)
After-tax ROAE (Annualized ratio)
Book Per Share
Capital Stock
Double leverage1
Group CAR2
Debt Ratio3		 0.57%
9.20%
16.44
81,254
104.13%
124.35%
6.48%		 0.57%
9.13%
15.94
86,535
103.38%
122.92%
7.17%		 0.0%
-0.8%
-3.0%
6.5%
-0.7%
-1.1%
10.6%

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

  2. Updated semi-annually.

  3. Non-consolidated basis.

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FB Income Statement

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

in NT$ million or %
2010
2011
2012
Net revenue
Net interest income
18,179
20,761
23,003
Net fee income
4,921
4,826
4,931
Net gain on ST invest.
531
440
162
Net gain on LT invest.
303
498
633
Net gain on other fin. products
1,681
2,581
2,141
Bad debts recovery
2,005
2,402
2,415
Other net income
209
(584)
446
Net revenue
27,829
30,924
33,731
Operating expenses
(14,200)
(15,482)
(15,730)
Provision
(5,429)
(5,300)
(5,809)
Income before tax
8,201
10,142
12,192
Income tax
(1,862)
(1,517)
(1,817)
Income after tax
6,339
8,625
10,375
Cummulative effect of change
0
0
0
in accounting principle
Net income
6,339
8,625
10,375
Full Year Results		 9M12
9M13
Change
Net interest income
17,986
18,464
2.7%
Net fee income
3,582
3,932
9.8%
Net gain on ST invest.
330
55
-83.3%
Net gain on LT invest.
609
640
5.1%
Net gain on other fin. product
1,669
1,367
-18.1%
Other net income
239
30
-87.4%
Net revenue
24,415
24,488
0.3%
Operating expenses
(12,086)
(12,093)
0.1%
Pre-provisiion pre-tax profit
12,329
12,395
0.5%
Provision expense
(3,879)
(4,120)
6.2%
Adjustment: bad-debt recov
2,106
2,635
25.1%
Income before tax
10,556
10,909
3.3%
Income tax
(1,588)
(1,932)
21.7%
Net income
8,968
8,977
0.1%
Year-over-Year Comparison		 Year-over-Year Comparison
9M12 9M13 Change
18,464
3,932
55
640
1,367
30
24,488
(12,093)
12,395
(4,120)
2,635
10,909
(1,932)
8,977		 2.7%
9.8%
-83.3%
5.1%
-18.1%
-87.4%
0.3%
0.1%
0.5%
6.2%
25.1%
3.3%
21.7%
0.1%
Other items
(180)
Comprehensive income
8,789		 148
9,125		 ---
3.8%

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FB Key Ratios

FB Key Ratios

Loan to deposit spread
Net Interest Margin
Cost to income ratio4
Loan to deposit ratio1
NPL ratio
Coverage ratio
CAR
Tier-1
ROAA
2
ROAE2		 2010
2011
2012
1.41%
1.41%
1.49%
1.02%
1.10%
1.21%
51.03%
50.06%
46.63%
78.14%
84.72%
89.49%
0.84%
0.47%
0.44%
112.58%
217.90%
248.97%
10.36%
10.94%
11.51%
7.00%
8.28%
8.41%
0.32%
0.43%
0.51%
6.82%
8.12%
8.58%
Full Year Resu		 3M
6M
1.52%
1.53%
1.26%
1.26%
51.53%
51.30%
88.51%
88.29%
0.50%
0.50%
233.17%
228.97%
11.44%
11.03%
8.49%
8.34%
0.56%
0.60%
9.44%
9.84%
2013 Quarterly		 Year-over-Year Comparison Year-over-Year Comparison Year-over-Year Comparison
9M12 9M13 Change
1.48%
1.20%
49.50%
88.71%
0.50%
207.78%
11.38%
8.32%
0.59%
9.73%		 1.54%
1.26%
49.38%
86.54%
0.64%
191.46%
10.95%
8.37%
0.57%
9.49%		 0.06%
0.06%
-0.12%
-2.17%
0.14%
-16.32%
-0.43%
0.05%
-3.39%
-2.47%

  1. Loan to depoist ratio = total loan / total deposit

  2. Annualized figures.

  3. CAR and Tier 1 updated semi-annually.

  4. Starting from 2013, net interest income, gains on Fin. Products and opt. expense will be re-classfied, 9M12&9M13 figures adjusted accordingly.

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FB Loan Qualit y

FB NPL Migration in NT$ million or %
F
in
2010
2011
2012
14,615
10,550
6,373
1,270
(1,421)
3,493
(5,335)
(2,756)
(3,443)
10,550
6,373
6,423
12,386
11,877
13,886
5,273
4,825
5,705
(5,335)
(2,756)
(3,443)
(447)
(60)
(156)
11,877
13,886
15,992
0.84%
0.47%
0.44%
112.58%
217.90%
248.97%
Full Year Result		 Q1
Q2
Q3
6,423
7,243
7,252
1,051
1,397
2,710
(231)
(1,388)
(676)
7,243
7,252
9,286
15,992
16,889
16,604
1,063
1,114
1,868
(231)
(1,388)
(676)
65
(11)
(18)
16,889
16,604
17,778
0.50%
0.50%
0.64%
233.17%
228.97%
191.46%
2013 Quarterly		 Year-over-Year Comparison
3Q12 3Q13 Change
N


N
Al



Al
N
Co		 PL- beginning
Net new NPL influx
Net write-offs
PL- ending balance
lowance for loan loss- beginning
Provisions for loan loss
Net write-offs
Others
lowance for loan loss- ending
PL ratio
verage ratio		 6,373
3,502
(2,761)
7,114
13,886
3,827
(2,761)
(170)
14,782
0.50%
207.78%		 6,423
5,158
(2,295)
9,286
15,992
4,045
(2,295)
36
17,778
0.64%
191.46%		 0.8%
47.3%
-16.9%
30.5%
15.2%
5.7%
-16.9%
-121.2%
20.3%
0.1%
-16.3%
1.
  1. Non-consolidated basis

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First Sec. Operating Report

First Securities Financial Results Summa in NT$ million or %
Fir
in
Fir
Tota
B
N
U
P
O
T
Tota
Non
Inco
Inco
Cum
Net
Fir
RO
RO
Bro
Mar

==> picture [180 x 32] 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
3Q12 3Q13 Change
351
1
352
(268)
5
89
(15)
74
0
74		 370
1
371
(282)
5
94
(16)
78
0
78		 5.4%
--
5.4%
5.2%
0.0%
5.6%
6.7%
5.4%
--
5.4%
y
FSITC Key Ratios
AUM
92,188
97,401
81,568
AUM Ranking
8
5
8		 86,778
7		 65,442
10		 -24.6%
--
  1. Non-consolidated basis

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– First Aviva Operating Report

First-Aviva Financial Results Summary ~~in NT$ million or %~~

~~in NT$ million or %~~
Full Year Result Year-over-Year Comparison
2010 2011 2012 3Q12 3Q13 Change
Income Statement Summary
Operating Revenue 6,314 4,993 7,342 4,328 6,850 58.3%
Premium Income 5,856 4,788 6,381 3,595 6,289 74.9%
Other insurance income 17 23 42 29 59 103.4%
Net Investment Income 441 182 919 704 502 -28.7%
Operating Cost (6,139) (4,902) (7,080) (4,079) (6,477) 58.8%
Reinsurance commission (5) (6) (10) (7) (9) 28.6%
Reserves (4,527) (1,128) (3,002) (869) (2,565) 195.2%
Claims (1,477) (3,595) (3,825) (3,029) (3,645) 20.3%
Commission (130) (172) (243) (174) (258) 48.3%
Others 0 0 0 0 0 --
Operating Expenses (319) (359) (377) (274) (276) 0.7%
Sales related expenses (32) (56) (60) (43) (38) -11.6%
Management expenses (278) (287) (300) (220) (223) 1.4%
Other expense (9) (16) (17) (12) (15) 25.0%
Profit/Loss of Operation (145) (268) (115) (25) 97 -488.0%
Non-Operating Profit 2 0 0 0 0 --
Profit/Loss Before Tax (143) (268) (115) (25) 97 -488.0%
Income tax 0 0 0 0 0 --
Net Income after tax (143) (268) (115) (25) 97 -488.0%
Key Ratios
ROAE(Annualized ratio)
ROAA(Annualized ratio)		 -9.00%
-0.77%		 -18.82%
-1.29%		 -9.21%
-0.51%		 -2.67%
-0.15%		 11.49%
0.51%		 --
--

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