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First Financial Holding Co. Ltd. Interim / Quarterly Report 2014

Dec 30, 2014

52222_rns_2014-12-30_50662610-e6a3-47fc-a7f2-0adb20185e5d.pdf

Interim / Quarterly Report

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Macquarie – Asia-Pacific Financials Corp. Day FFHC 3Q 2014 Earnings Result

January 6-7, 2015

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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 “ Big 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 extensive network – low funding cost & high CASA rate

    • With Security, Asset management and Life Insurance subsidiary business, First Financial Holding remain keen for expansion & acquisition for non-banking sectors.

  • Deposit mkt share 5.5% 2014/9/30

  • Loan mkt share 5.8%

  • FFHC asset size Top 9

  • SME Top 1

  • Mortgage Top 7

  • Trade Finance Top 3

  • Mutual fund sales Top 4

  • Custodian Top 1

  • Bank branches 190 domestic /25 overseas

Financial Summary

$mn, except per
share amounts		 2011 2012 2013 3Q2014
Total Revenues 32,559 36,659 36,466 31,794
Net Income 7,471 10,118 10,877 11,705
EPS 1.01 1.25 1.26 1.26
ROAE (annualized) 6.38% 7.73% 7.94% 10.73%

3Q2014 Financial Summary

in NT$ mn
First Commercial Bank Net Income 10,936
First Securities Net Income 194
First Sec. Investment Trust Net Income 85
First-Aviva Life Insurance Net Income 26
FFHC Ownership Profile
Government (Direct 21.07%; Indirect: 7.42%) 28.49%
Other Investors:		 50.61%
5
Foreign Institution:
 20.90%
Data as of 2014/4/23

Peers Comparison

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In NT billion/ market share
10.97% Deposit- Rank Taiwan #6 Data as of 2014/9/30 SME Loan – Rank Taiwan # 1
11.35%
3,517 7.41% 10.38%
572
6.30%
5.98% 523 8.20%
2,376 5.55% 5.52% 7.74%
2,020 1,917 413 391
1,781 1,769
Bank of Taiwan Cooperative Land Bank Mega Hua Nan First Bank First Bank Cooperative Bank Taiwan Business Hua Nan
Bank
Bank
Loan- Rank Taiwan # 5 Mutual Fund Sales – Rank Taiwan # 4
9.21%
172
7.53% 7.40%
2,368 6.65%
113
5.77%
1,937 1,903 5.58% 96
92
1,710
1,483 1,436
Bank of Taiwan Cooperative Land Bank Mega First Bank Hua Nan Chinatrust Fubon Hua Nan First Bank
Bank
Source: Financial Supervision Commission, Banking Bureau
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At a Glance

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3Q 2014 – Move Beyond the Horizon

  • Bank’s 3Q14 Strong Fee Income is a Spotlight: Sparkling fee income geared from Bank’s robust WM momentum & loan business shall sustain until 2015.

  • Additional Gross Provisioning for Mortgage & Construction

  • Lending( 1%→ 1.5%).

As of Aug. 2014, the estimated additional provision will be around NT$ 1.5 bn.

  • 2015: Another Challenging Year for Financial Industry Tightened liquidity may come earlier than expected and be discounted into funding cost due to weak currency policy and potential inflationary pressure, if it applies.

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FB Core Earnings & Loan Spread

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Net Interest Income, Fee Income (NT$ mn )
Net Interest Income Fee Income Total Core Earnings 8,631
8,631
8,237
8,007 8,237
7,688
7,444 7,866 8,007
7,688
6,926
6,267 6,401 6,601 6,712
1,421 1,465 1,406 1,525 1,705
3Q13 4Q13 1Q14 2Q14 3Q14
1.597%
2014 FB Monthly Loan/Deposit Spread & Loan Bal. (in % & NT$ bn)
Yield pick-up
Loan Book Balance Spread (Total ) driven
1.572% 1.572%
1.559%
1.551%
1,488.4
1,479.4
1,473.1
1,467.2 1,466.3
14-Jun 14-Jul 14-Aug 14-Sep 14-Oct
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3Q 2014 Financial Highlight

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3Q 2014 Key Figures

3Q14
11,7051
12,845
2,327,379
1.26
16.12
92,593
10.73%
0.68%
122.27%
106.06%
YoY %
26.0%
36.3%
5.4%
26.0%
1.1%
7.0%
17.5%
19.3%
-0.7%
2.7%
Key Figures ( in NT$ dollar, NT$ mn, mn shares or %)
3Q13
9,2931
9,421
2,207,909
1.00
15.94
86,535
9.13%
0.57%
122.92%
103.38%
Consolidated Net Income1
Comprehensive Income
Total Assets
EPS
Book per share
Capital Stock
ROAE
3
ROAA
3
Group CAR4
Double Leverage5
3Q2014 Net Income Breakdown1( in NT$ mn) 3Q14
11,7051
12,845
2,327,379
1.26
16.12
92,593
10.73%
0.68%
122.27%
106.06%
YoY %
26.0%
36.3%
5.4%
26.0%
1.1%
7.0%
17.5%
19.3%
-0.7%
2.7%
Key Figures ( in NT$ dollar, NT$ mn, mn shares or %)
3Q13
9,2931
9,421
2,207,909
1.00
15.94
86,535
9.13%
0.57%
122.92%
103.38%
Consolidated Net Income1
Comprehensive Income
Total Assets
EPS
Book per share
Capital Stock
ROAE
3
ROAA
3
Group CAR4
Double Leverage5
Banking
NT$10,936; 93.4%
Securities
NT$194; 1.7%
Investment Trust
NT$85; 0.7%
Others
NT$215;1.8%
Insurance
NT$26; 0.2%
AMC
NT$249; 2.1%

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

  2. Starting from 2013, Comprehensive Income Statement is required by IFRS.

  3. Annualized figures. 4. CAR is updated semi-annually.

  4. Double Leverage = Equity Investment / Shareholder Equity

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Net Income & Comprehensive Income

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3Q 2014 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (2,840)
Insurance (377)
31,794 (3,217) 26.0%
(15,082) ↑
(1,790)
12,845
11,705
1,139
Net Revenue Provision Operating Income Tax Net Income Other Items Comprehensive
Expense Income
3Q 2013 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (1,581)
Insurance 594
26,458
(987) (14,035)
(2,143) 9,293 9,421
128
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 2014 FFHC Net Income Breakdown (in NT$ mn)
↑ 26.0%
↑21.8%
11,705
10,936
↑115.6% ↑76.6%
↑9.0%
FFHC 13
Aviva 13
194 85 26 249
First Bank First Securities FSITC First-Aviva First AMC FFHC
3Q 2013 FFHC Net Income Breakdown (in NT$ mn)
9,293
8,977
FFHC 49
Aviva 48
90 78 97 141
First Bank First Securities FSITC First-Aviva First AMC FFHC
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  • Major 5 subsidiaries were listed.

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3Q 2014 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
11.42%
9.80% 10.46% 9.20% 8.80% 9.48% 9.13% 10.20% 10.73%
7.73% 7.94%
9,016 10,118 9,293 10,877 8,205 11,705
6,680 6,361
3,131 2,970 3,655
3M 12 6M 12 9M 12 2012 3M 13 6M 13 9M 13 2013 3M 14 6M 14 9M 14
First Bank Net Income & ROAE (in NT$ mn & %)
Cumulative Net Income Annualized ROAE
10.16% 11.14% 9.73% 9.44% 9.84% 9.49% 10.59% 11.10% 10.60%
8.58% 8.35%
10,375 10,645 10,936
8,880 8,977
7,527
6,551 6,144
3,543
2,972 2,962
3M 12 6M 12 9M 12 2012 3M 13 6M 13 9M 13 2013 3M 14 6M 14 9M 14
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1.Minority interests included

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FB 3Q14 Pre-tax Profit
3Q14 Cumulative Net Revenue(in NT$ mn or %) % of FB Income before Tax(in %)
Item 3Q13 3Q14 Change
NII 75.4% 71.7% -3.7%
28,244
Net Fee 16.1% 16.4% +0.3%
Gain on ST Invest. 0.2% 0.4% +0.2%
Gain on LT invest. 2.6% 2.3% -0.3%
24,488 +15.3% Gain on
Others		 fin. Products 5.6%
0.1%		 9.1%
0.1%		 +3.5%
0.0%
Total Revenue 100.0% 100.0%
z
Provision Expense1		 -16.8% -16.4% -0.4%
3Q13 3Q14 Adjustment :Recovery +10.8% +6.8% -4.0%
Cumulative Net Revenue Operating Expense -49.4% -45.4% -4.0%
FB Revenue/Expense Comparison(in NT$ mn ) Income Before Tax 43.2% 45.0% +1.8%
18,464 20,239 ↑9.6% ↑6.0%
↑17.9% ↑ 60.5% ↑12.5% ↓27.6% 12,093 12,820
↓32.8%
3,932		 4,636 2,062 3,309 4,120
4,637		 2,635
1,909
3Q133Q14
Net Interest Income		 3Q133Q14
Net Fee Income		 3Q133Q14
Gains on
investment		 3Q133Q14
**Provision Exp.1 **		 3Q133Q14
Recovery		 3Q133Q14
Operating Exp.
  1. Gross Provision Expense.

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FB 3Q14 Loan Book Mix

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% of Loan Book [1]
3Q14 Loan Book [1] (in NT$ bn or %)
Item 3Q13 3Q14 Change
Consumer 28.1% 27.6% -0.5%
1,488.4
Mortgage 27.0% 26.3% -0.7%
Other Consumer Loan 1.1% 1.3% +0.2%
Corporate Banking 71.9% 72.4% +0.5%
1,438.2 Commercial Loan 47.6% 47.4% -0.2%
+3.5%
--- SME 37.3% 38.4% +1.1%
F/X/ Loan 19.7% 22.2% +2.5%
--- Overseas 8.7% 10.4% +1.7%
3Q13 3Q14 Gov./SOE Loan 4.6% 2.8% -1.8%
Loan Book [1 ]
Loan Book [1 ] 100.0% 100.0%
3Q14 Loan Book [1] Breakdown (in NT$ bn ) 704.9
↑2.9%
685.3
↑0.8%
SME↑6.6% ↑ F/X16.8%
391.1
330.9
283.2
388.0 ↓37.0% SME [2 ] SME [2 ]
536.4
41.9 571.9 Overseas Overseas Overseas
19.6
15.2 66.5 124.9 154.8 ↑ 23.9%
3Q13 3Q14 3Q13 3Q14 3Q13 3Q14 3Q13 3Q14 3Q13 3Q14
Mortgage Other Consumer Gov./SOE Loan Commercial F/X Loan
Loan Loan
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  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

676.2
682.4
685.3
689.2
678.5
692.7
704.9
385.3
387.9
388.0
393.3
391.8
88.5
85.1
40.4
72.4
46.3
41.9
267.3
273.2
283.2
293.0
306.4
317.5
330.9
391.1
392.2
66.5
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
Gov/SOE
SME
Mortgage
Commercial
Loan2
FB Loan Growth(in NT$ bn)
1430.6
1442.9
1438.2
1433.0
1466.0
1467.2
1488.4
F/X loan
Total loan
1
QoQ% YTD%
524.6
536.4
545.9
538.8
562.7
571.9
523.5
+1.6%
+4.8%
+4.2%
+12.9%
-9.5%
+3.7%
-0.3%
-0.6%
+1.8%
+2.3%
QoQ ↑ 1.4%		 676.2
682.4
685.3
689.2
678.5
692.7
704.9
385.3
387.9
388.0
393.3
391.8
88.5
85.1
40.4
72.4
46.3
41.9
267.3
273.2
283.2
293.0
306.4
317.5
330.9
391.1
392.2
66.5
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
Gov/SOE
SME
Mortgage
Commercial
Loan2
FB Loan Growth(in NT$ bn)
1430.6
1442.9
1438.2
1433.0
1466.0
1467.2
1488.4
F/X loan
Total loan
1
QoQ% YTD%
524.6
536.4
545.9
538.8
562.7
571.9
523.5
+1.6%
+4.8%
+4.2%
+12.9%
-9.5%
+3.7%
-0.3%
-0.6%
+1.8%
+2.3%
QoQ ↑ 1.4%		 676.2
682.4
685.3
689.2
678.5
692.7
704.9
385.3
387.9
388.0
393.3
391.8
88.5
85.1
40.4
72.4
46.3
41.9
267.3
273.2
283.2
293.0
306.4
317.5
330.9
391.1
392.2
66.5
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
Gov/SOE
SME
Mortgage
Commercial
Loan2
FB Loan Growth(in NT$ bn)
1430.6
1442.9
1438.2
1433.0
1466.0
1467.2
1488.4
F/X loan
Total loan
1
QoQ% YTD%
524.6
536.4
545.9
538.8
562.7
571.9
523.5
+1.6%
+4.8%
+4.2%
+12.9%
-9.5%
+3.7%
-0.3%
-0.6%
+1.8%
+2.3%
QoQ ↑ 1.4%		 676.2
682.4
685.3
689.2
678.5
692.7
704.9
385.3
387.9
388.0
393.3
391.8
88.5
85.1
40.4
72.4
46.3
41.9
267.3
273.2
283.2
293.0
306.4
317.5
330.9
391.1
392.2
66.5
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
Gov/SOE
SME
Mortgage
Commercial
Loan2
FB Loan Growth(in NT$ bn)
1430.6
1442.9
1438.2
1433.0
1466.0
1467.2
1488.4
F/X loan
Total loan
1
QoQ% YTD%
524.6
536.4
545.9
538.8
562.7
571.9
523.5
+1.6%
+4.8%
+4.2%
+12.9%
-9.5%
+3.7%
-0.3%
-0.6%
+1.8%
+2.3%
QoQ ↑ 1.4%		 676.2
682.4
685.3
689.2
678.5
692.7
704.9
385.3
387.9
388.0
393.3
391.8
88.5
85.1
40.4
72.4
46.3
41.9
267.3
273.2
283.2
293.0
306.4
317.5
330.9
391.1
392.2
66.5
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
Gov/SOE
SME
Mortgage
Commercial
Loan2
FB Loan Growth(in NT$ bn)
1430.6
1442.9
1438.2
1433.0
1466.0
1467.2
1488.4
F/X loan
Total loan
1
QoQ% YTD%
524.6
536.4
545.9
538.8
562.7
571.9
523.5
+1.6%
+4.8%
+4.2%
+12.9%
-9.5%
+3.7%
-0.3%
-0.6%
+1.8%
+2.3%
QoQ ↑ 1.4%		 676.2
682.4
685.3
689.2
678.5
692.7
704.9
385.3
387.9
388.0
393.3
391.8
88.5
85.1
40.4
72.4
46.3
41.9
267.3
273.2
283.2
293.0
306.4
317.5
330.9
391.1
392.2
66.5
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
Gov/SOE
SME
Mortgage
Commercial
Loan2
FB Loan Growth(in NT$ bn)
1430.6
1442.9
1438.2
1433.0
1466.0
1467.2
1488.4
F/X loan
Total loan
1
QoQ% YTD%
524.6
536.4
545.9
538.8
562.7
571.9
523.5
+1.6%
+4.8%
+4.2%
+12.9%
-9.5%
+3.7%
-0.3%
-0.6%
+1.8%
+2.3%
QoQ ↑ 1.4%
676.2
682.4
685.3
689.2
678.5
692.7
704.9
385.3
387.9
388.0
393.3
391.8
88.5
85.1
40.4
72.4
46.3
41.9
267.3
273.2
283.2
293.0
306.4
317.5
330.9
391.1
392.2
66.5
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
Gov/SOE
SME
Mortgage
Commercial
Loan2
1430.6
1442.9
1438.2
1433.0
1466.0
1467.2
1488.4
F/X loan
Total loan
1
QoQ% YTD%
524.6
536.4
545.9
538.8
562.7
571.9
523.5
+1.6%
+4.8%
+4.2%
+12.9%
-9.5%
+3.7%
-0.3%
-0.6%
+1.8%
+2.3%
QoQ ↑ 1.4%
+1.6% +4.8%
+4.2% +12.9%
-95% +37%
.
-0.3%		 .
-0.6%
+1.8% +2.3%
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14

1.Other consumer loan not included

2.Commercial loan includes SME.

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FB 3Q14 Total Loan & NIM

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Total Loan & LDR (in NT$ bn or % )
Total Loan [1 ] LDR [2 ]
89.49%
88.28% 88.71% 88.51% 88.29%
86.05% 86.54%
84.51% 84.49%
83.50% 83.48%
1,386.3 1,408.0 1,410.3 1,445.2 1,437.3 1,449.2 1,447.7 1,439.9 1,470.6 1,470.9 1,491.8
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14
△
Loan-Deposit Spread / NIM ( in % )
Spread [3 ] NIM [3 ]
1.52% 1.53% 1.54% 1.55% 1.55% 1.55% 1.55%
1.47% 1.48% 1.49%
1.45%
1.26% 1.26% 1.26% 1.26% 1.28% 1.28% 1.28%
1.20% 1.20% 1.21%
1.18%
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14
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  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

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FB 3Q14 Loan Yields

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FB NTD Yields & Costs Overview ( in % )
Deposit Rate (NTD) Lending Rate (NTD) Interest Spread (NTD) 1.56%
1.53%
1.52% 1.52%
1.50%
1.47% 1.48%
2.09% 2.10% 2.11% 2.15% 2.13% 2.12% 2.16%
0.62% 0.62% 0.61% 0.61% 0.61% 0.60% 0.60%
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14
FB FX Yields & Costs Overview ( in % ) Deposit Rate (FX) Lending Rate (FX)
1.83% Interest Spread (FX)
1.74% 1.76% 1.75%
1.67%
1.65%
1.59%
2.25% 2.29% 2.42% 2.38% 2.52% 2.65% 2.51%
0.87% 0.98% 0.92%
0.51% 0.53% 0.59% 0.64%
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14
----- End of picture text -----

All rates are QUARTERLY* average rates.

20

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Major Exposures Breakdown

==> picture [643 x 389] intentionally omitted <==

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

3Q14 - % of Loan to Industries
6.08% 13.11%
11.42% 5.96%
Manufacturing; 28.14%
5.29%
3Q14
7.13%
Total Exposures Petro.
7.05% Metal
$1,575 bn Tech.
3.34%
Machinery
3.48% Other manufacturing
Individual(Mortgage included)
6.36% Construction
Real Estate
Wholesale/Retail
30.78%
Transportation&Warehousing
Others
----- End of picture text -----

  1. Total loan does not includes NALs.

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FB 3Q14 Mortgage Book

3Q14 Mortgage by Location (in %) 3Q14 Mortgage by Location (in %)
Location
3Q14
North
TPE Metro
70%
54%
Taoyuan/Hsinchu/
Mioli
16%
Central
10%
Taichung
South
16%
Tainan/Kaohsiung
East
4%
Total
100.0%
Mortgage NPL(in %)		 67.14%
66.82%
66.23%
65.99%
65.74%
65.61%
65.37%
49.09%
48.77%
48.14%
48.00%
47.59%
47.34%
46.94%
3M13
6M13
9M13
2013
3M14
6M14
9M14
Loan-to-value ratio of new mortgage
Avg. loan-to-value ratio
2.15%
2.15%
2.15%
2.15%
2.15%
2.15%
2.16%
Mortgage Yield
↑4.3%
↑17.2%
SME2
317.0
SME2
305.0

Monthly New Mortgage Lending
Monthly New Mortgage Lending(in NT$mn)
7,275
8,202
7,940
8,527
8,104
4,212
6,213
6,368
6,535
6,725
6,077
5,359
5,507
YoY% -24.3%
9M13
10M13
11M13
12M13
1M14
2M14
3M14
4M14
5M14
6M14
7M14
8M14
9M14

22

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FB 3Q14 Fee Income Breakdown

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

3Q14 Cumulative Net Fee Income (in NT$ mn or %) % of Cumulative Net Fee
Item 3Q13 3Q14 Change
4,636 WM [1 ] 46.3% 49.4% +3.1%
F/X 17.2% 15.2% -2.0%
Other [2 ] 13.3% 14.0% +0.7%
3,932 +17.9%
Loan-related 16.7% 15.2% -1.5%
Credit Card 6.5% 6.3% -0.2%
3Q13 3Q14
Cumulative Net Fee 100.0% 100.0%
Net Fee Income
3Q14 Cumulative Net Fee Breakdown ( in NT$ mn )
↑ 25.7%
2,288
1,820
↑7.6% ↑4.1%
↑23.9%
↓ 23.7% 706 ↑12.8%
656 675 703 648
291 523
↑3.0% 258
3Q13 3Q14 3Q13 3Q14 3Q13 3Q14 3Q13 3Q14 3Q13 3Q14
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

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

Fee Income (in NT$ mn)
1,705 YoY% +20.0%
1,525
1,421 1,465 1,406
1,312 QoQ% +11.8%
Fee
Income
248
197 100
203
194 203
100
165 95 237
87
Others 91
85 243
Credit Card 228 251 223 250
227
F/X
232
Related 226 237 100
224
222 93 3Q14(YoY%)
Loan
87 86 84 +28.5%
Related 87
770
581 660 Mutual fund
Custodian 526 599 594 & Bancassur.
Wealth
Fund& Banca.
MGT.
2Q13 3Q13 4Q13 1Q14 2Q14 3Q14
----- End of picture text -----

  • Wealth Management Fee = Fund sales + Bancassurance + Custodian

*Other represents network service fee, including overseas branches

24

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FB 3Q14 Overseas Profits

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

3Q14 FB Overseas Pre-Tax Profit Mix ( in % ) 3Q14 FB Total Pre-Tax Profit Mix ( in NT$ mn & %)
8.9% Total Pre-Tax
5.7%
54.6% Profit
$12,696 mn
OBU
12.7% Home Market;
Shanghai 56.2%
3Q2014
Macau
Overseas
$5,567 mn HK
North America
11.3% Asean
Other overseas; Greater China; 32.2%
Others 11.6%
0.8% 6.0%
Quarterly Overseas & Total PTP (in NT$ mn or %)
Overseas Total Cumulative Overseas PTP to FB Total PTP
47.3% 44.0% 43.9%
36.9%
34.6%
21.2% 30.6% 19.9%
4,642
4,087
3,967
3,895
3,518 3,496
1,759 1,675
1,280 1,447 1,932 1,910 1,725
568 745
150
4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14
----- End of picture text -----

  • Data stated in accordance with T-IFRS.

25

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FB 3Q14 Cost-to-Income Ratio

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

3Q14 Cumulative Operating Expense (in NT$ mn ) Cost-to-Income Ratio Analysis( in NT$ mn)
Item 3Q13 3Q14
12,820 Net Revenue 24,487 28,244
Operating Expense (12,093) (12,820)
12,093 +6.0%
Provision(Net) (1,485) (2,728)
Income Tax (1,932) (1,760)
3Q13 3Q14
Net Income 8,977 10,936
Operating Expense
Quarterly Operating Expense & Cumulated Cost-to-Income Ratio ( in NT$ mn or % )
Sales Tax raised
Net Revenue Operating Expense Cost-to-Income Ratio fm 2% to 5%
51.53% 51.30%
49.38% 49.63%
45.25% 45.49% 45.39%
9,956
7,672 8,101 8,715 8,288 9,032 9,256
3,953 4,138 4,002 4,176 4,087 4,232 4,501
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14
----- End of picture text -----

  • Data stated in accordance with T-IFRS.

26

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FB 3Q14 Asset Quality

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

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)
521.72% 504.28%
453.05%
233.17% 228.97% 261.73%
191.46%
1.26% 1.34% 1.31% 1.37%
1.26%
1.20% 1.20%
1.09%
NPL Ratio NPL NPL Reserve
0.64%
0.50% 0.50%
0.47%
0.28% 0.24% 0.26%
16,889
16,604 17,778 17,730 18,813 18,637 19,933
9,286
7,243 7,252 6,774
4,152 3,572 3,953
3M13 6M13 9M13 2013 3M14 6M14 9M14
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27

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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 %)
Large Corp.
Individual SME
Mortagge 0.64%
0.22% 0.52% 0.50%
0.45%
0.39%
0.20% 0.55%
0.18% 0.18% 0.22%
0.17% 0.30%
0.19% 0.26%
0.20%
0.09%
0.17% 0.16% 0.17%
3Q13 4Q13 1Q14 2Q14 3Q14
3Q13 4Q13 1Q14 2Q14 3Q14
Taiwan Polysilicon
NT$ 444 mn
Domestic NPL Ratio (in %) Overseas NPL Ratio (in %)
Domestic Overseas
0.39%
2.03%
0.32% 0.30% 1.26%
0.28%
0.25%
0.27% 0.23%
0.08%
3Q13 4Q13 1Q14 2Q14 3Q14
3Q13 4Q13 1Q14 2Q14 3Q14
----- End of picture text -----

  1. Individual: mortgage and non-mortgage loan included

  2. bad-debt recovery not included.

28

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Taiwan Polysilicon FB New NPL Influx Breakdown NT$ 444 mn

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

Breakdown of New NPL Influx (in NT$ mn ） Quarterly Recovery Mix (in NT$ mn)
Quarterly
4Q13 1Q14 2Q14 3Q14 Quarterly
NPL Influx 4Q13 1Q14 2Q14 3Q14
Recovery
--- Domestic 196 178 619 1,140
--- Domestic 368 246 553 486
--- Overseas (13) (2,275) (30) 11
--- Overseas 148 450 101 26
--- Credit Card 18 17 15 14
Total NPL Influx 183 (2,097) 589 1,151 Total Recovery 534 713 669 526
Quarterly New NPL Influx & Write-offs ( in NT$ mn)
Write-off New NPL Influx
0.15%
0.09%
2,710 2,695 0.07%
0.00% 0.00% 0.00%
1,3881,397
1,051 1,169 1,151
682 676 525 589 770
231 183
(9)
(2,097)
4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14
----- End of picture text -----

29

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CAR & Core Capital

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

FFHC Group CAR(in %)
CAR
125.55%
123.00% 123.04% 121.24% 122.27%
117.99% 117.05% 119.40%
115.14%
statutory CAR 100%
FB CAR & Core Capital(in %)
CAR
11.51%
10.94% 11.03% 10.90% 10.88% 10.93%
10.36% 10.14% 10.44%
Tier 1
8.28% 8.23% 8.41% 8.34% 8.31% 8.64% 8.85%
7.00% 6.82%
2H10 1H11 2H11 1H12 2H12 1H13 2H13 1H14 3Q14
2H10 1H11 2H11 1H12 2H12 1H13 2H13 1H14 3Q14
----- End of picture text -----

  • •Leverage ceiling for holding companies in Taiwan: Double Leverage < 125% ; Debt Ratio < 30% *Preliminary data for 3Q14

30

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Shareholder Return

2013
0.50
0.70
1.20
39.7%
1.20
1.26
2013
0.75
1.00
0.9
0.75
1.20
1.08
0.44
1.02
2008
2009
2010
2011
FFHC Earnings Per Share ( in NT$ dollar )
EPS
Dividend		 1.10
1.18		 1.20
1.26
2013
2008
2009
2010
2011		 2012
2008
2009
2010
2011		 2012 2013
Cash dividend
0.50
0.50
0.30
0.40		 0.45 0.50
Stock dividend
0.25
0.25
0.60
0.60		 0.65 0.70
Total dividend
0.75
0.75
0.90
1.00		 1.10 1.20
CASH Payout
ratio
41.7%
113.6%
29.4%
37.0%		 38.1% 39.7%
  1. EPS is adjusted retroactively for stock dividends.

31

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Appendix

==> picture [720 x 27] intentionally omitted <==

==> picture [180 x 31] intentionally omitted <==

FFHC Consolidated Statement of Comprehensive Income

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

FFHC Consolidated Statement of Comprehensive Income FFHC Consolidated Statement of Comprehensive Income FFHC Consolidated Statement of Comprehensive Income (in NT$ million or %) (in NT$ million or %) (in NT$ million or %)
Fll Year Reslts(TW-GAPP Fll Year Reslts(IFRSs)
Year-over-Year Comarison
u u u u
**p **
2011
2012		 2013
3Q13
Net interest income
25,932
19,219
Net service fee & commission
6,632
4,774
Net Insurance revenue
688
(307)
Gain on financial assets meas.
859
666
at fair value through P/L
Real estate investment gain
88
63
Gain on AFS financial assets
315
307
Income from equity invest.
97
103
Net gain on F/X
1,368
949
Assets impairment loss
3
0
Others
484
684
Ner Revenue
36,466
26,458
Net Provision for credit losses
(4,047)
(1,581)
Recovered(provided) for insurance res.
(397)
594
Operating Expense
(18,973)
(14,035)
Income from continued op. before tax
13,049
11,436
Income tax expenses
(2,172)
(2,143)
Consolidatednetincome
10,877
9,293
Other Items
1,262
128
Comprehensive Income
12,139
9,421
Net Income attributed to:
Parent
10,889
9,245
Minorityinterests
(12)
48
Comprehensive Income attributed to:
Parent
12,242
9,475
Minorityinterests
(104)
(54)
EPS1(NT$)
1.26
1.00		 3Q14 Change
Intere
Less:
Net inte
Net s
Net In
Gain
at fa
Gain
Gain
Incom
Real
Net g
Other
Net non
Net rev
Provisio
Reserv
Operati
Other e
Income
Income
Income
Income
Cummu
in acc
Consoli
EPS1(N
Net in
Minor		 st income
34,166
36,544
Interest expenses
(12,083)
(12,422)
rest income
22,083
24,122
ervice fee & commission
6,203
5,954
surance revenue
0
695
on financial assets measured
1,111
1,363
ir value through P/L
on AFS financial assets
694
360
on HTM financial assets
11
0
e from equity invest.
132
256
estate investment gain
3
0
ain on F/X
853
651
s
1,469
3,258
-interest income
10,476
12,537
enues
32,559
36,659
n for credit losses
(5,347)
(5,890)
e for insurance
(36)
(656)
ng expenses
(17,970)
(18,084)
xpenses
0
0
from continued op. before tax
9,206
12,029
tax expenses
(1,735)
(1,911)
from continued op. after tax
7,471
10,118
from discountinued op., net of tax
0
0
lative effect of change
0
0
ounting principle
dated net income
7,471
10,118
T$)
1.01
1.25
come attributable to parent
7,602
10,174
ity interests
(131)
(56)		 21,110
5,630
822
1,423
172
628
53
1,184
59
712
31,794
(2,840)
(377)
(15,082)
13,496
(1,790)
11,705		 9.8%
17.9%
--
113.7%
173.0%
104.6%
-48.5%
24.8%
--
4.1%
20.2%
79.6%
--
7.5%
18.0%
-16.5%
26.0%
Other Items
Comprehensive Income		 1,139
12,845		 789.8%
36.3%
Net Income attributed to:
Parent
Minorityinterests		 11,692
13		 26.5%
--
Comprehensive Income attributed to:
Parent
Minorityinterests		 12,864
(19)		 35.8%
-64.8%
EPS1(NT$)
1.26 26.0%

Note: sta		 rting from 2013, data are stated in accordance with IFRSs, whereas FY2011-2012 are with ROC GAAP. The same basis applied to all appendix pages.

Note: starting from 2013, data are stated in accordance with IFRSs, whereas FY2011-2012 are with ROC GAAP. The same basis applied to all appendix pages.

33

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FFHC Non-consolidated Income Statement

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

2011
2012
2013
3Q13
3Q14 Change
8,857
10,641
11,112
9,376
11,620
23.9%
238
252
226
221
255
15.4%
9,095
10,893
11,339
9,597
11,875
23.7%
(992)
(291)
(12)
0
0
--
(235)
(231)
(233)
(183)
(201)
9.8%
(228)
(145)
(145)
(108)
(138)
27.8%
7,641
10,226
10,949
9,306
11,536
24.0%
7,602
10,226
10,889
9,245
11,692
26.5%
0
0
0
0
0
--
7,602
10,226
10,889
9,245
11,692
26.5%
1.01
1.18
1.26
1.00
1.26
26.0%
Year-over-Year Comparison
Full Year Results		 2011
2012
2013
3Q13
3Q14 Change
8,857
10,641
11,112
9,376
11,620
23.9%
238
252
226
221
255
15.4%
9,095
10,893
11,339
9,597
11,875
23.7%
(992)
(291)
(12)
0
0
--
(235)
(231)
(233)
(183)
(201)
9.8%
(228)
(145)
(145)
(108)
(138)
27.8%
7,641
10,226
10,949
9,306
11,536
24.0%
7,602
10,226
10,889
9,245
11,692
26.5%
0
0
0
0
0
--
7,602
10,226
10,889
9,245
11,692
26.5%
1.01
1.18
1.26
1.00
1.26
26.0%
Year-over-Year Comparison
Full Year Results		 2011
2012
2013
3Q13
3Q14 Change
8,857
10,641
11,112
9,376
11,620
23.9%
238
252
226
221
255
15.4%
9,095
10,893
11,339
9,597
11,875
23.7%
(992)
(291)
(12)
0
0
--
(235)
(231)
(233)
(183)
(201)
9.8%
(228)
(145)
(145)
(108)
(138)
27.8%
7,641
10,226
10,949
9,306
11,536
24.0%
7,602
10,226
10,889
9,245
11,692
26.5%
0
0
0
0
0
--
7,602
10,226
10,889
9,245
11,692
26.5%
1.01
1.18
1.26
1.00
1.26
26.0%
Year-over-Year Comparison
Full Year Results		 2011
2012
2013
3Q13
3Q14 Change
8,857
10,641
11,112
9,376
11,620
23.9%
238
252
226
221
255
15.4%
9,095
10,893
11,339
9,597
11,875
23.7%
(992)
(291)
(12)
0
0
--
(235)
(231)
(233)
(183)
(201)
9.8%
(228)
(145)
(145)
(108)
(138)
27.8%
7,641
10,226
10,949
9,306
11,536
24.0%
7,602
10,226
10,889
9,245
11,692
26.5%
0
0
0
0
0
--
7,602
10,226
10,889
9,245
11,692
26.5%
1.01
1.18
1.26
1.00
1.26
26.0%
Year-over-Year Comparison
Full Year Results
3Q13 **3Q14 ** Change
Operating revenues
Income from long-term investment
Other income1
Total revenues
Loss from long-term investment
Operating expenses
Other expenses and losses
Income from continued op. before tax
Income from continued po. after tax
Income from discontinued op., net of tax
Net income
EPS2(NT$)		 9,376
221
9,597
0
(183)
(108)
9,306
9,245
0
9,245
1.00		 11,620
255
11,875
0
(201)
(138)
11,536
11,692
0
11,692
1.26		 23.9%
15.4%
23.7%
--
9.8%
27.8%
24.0%
26.5%
--
26.5%
26.0%

  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

FFHC Balance Sheet Summary
in NT$ million or million shares
Full Year Results Year-over-Year Comparison
2011 2012 2013 3Q13 **3Q14 ** Change
Non-consolidated Balance Sheet Data
Long-term investment 127,331 137,633 145,469 142,625 158,305 11.0%
Total non-consolidated assets 135,716 141,300 151,546 148,623 162,196 9.1%
Total liabilities 8,999 9,156 10,817 10,660 12,930 21.3%
Total shareholders' equity 126,717 132,144 140,729 137,963 149,266 8.2%
Conolidated Balance Sheet Data
Total consolidated assets 2,080,970 2,124,279 2,263,385 2,207,909 2,327,379 5.4%
Total liabilities 1,953,609 1,991,555 2,122,179 2,069,420 2,177,655 5.2%
Total shareholders' equity 127,361 132,724 141,206 138,488 149,724 8.1%
Parent's shareholders' equity 126,717 132,143 140,729 137,963 149,266 8.2%
Minority interests 644 581 477 526 458 -12.9%
Current shares outstanding 76,654 81,254 86,535 86,535 92,593 7.0%

*figures may not match due to rounding

35

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FFHC Key Ratios

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

FFHC Key Ratios

FFHC Key Ratios
2011
2012
2013
3Q13
3Q14 Change
0.36%
0.48%
0.50%
0.57%
0.68%
19.3%
6.38%
7.86%
7.94%
9.13%
10.73%
17.5%
16.53
16.26
16.26
15.94
16.12
1.1%
76,654
81,254
86,535
86,535
92,593
7.0%
103.58%
104.15%
103.37%
103.38%
106.06%
2.6%
123.00%
125.55%
123.04%
122.92%
122.27%
-0.5%
6.63%
6.48%
7.14%
7.17%
7.97%
11.2%
Year-over-Year Comparison
Full Year Results
3Q13 **3Q14 ** Change
After-tax ROAA (Annualized ratio)
After-tax ROAE (Annualized ratio)
Book Per Share
Capital Stock
Double leverage1
Group CAR2
Debt Ratio3		 0.57%
9.13%
15.94
86,535
103.38%
122.92%
7.17%		 0.68%
10.73%
16.12
92,593
106.06%
122.27%
7.97%		 19.3%
17.5%
1.1%
7.0%
2.6%
-0.5%
11.2%

  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 %

FB Income Statement
bject to final Reviewed
FB Comprehensive Income Statement Summary(Standalone)
in NT$ million or %
Full Year Results (IFRSs)
2011
2012
2013
9M13
9M14
Change
Net revenue
Net interest income
20,761
23,003
Net interest income
24,865
18,464
20,239
9.6%
Net fee income
4,826
4,931
Net fee income
5,397
3,932
4,636
17.9%
Net gain on ST invest.
440
162
Net gain on ST invest.
76
55
114
107.3%
Net gain on LT invest.
498
633
Net gain on LT invest.
711
640
640
0.0%
Net gain on other fin. products
2,581
2,141
Net gain on other fin. products
1,887
1,367
2,555
86.9%
Bad debts recovery
2,402
2,415
Other net income
(160)
30
60
100.0%
Other net income
(584)
446
Net revenue
32,776
24,488
28,244
15.3%
Net revenue
30,924
33,731
Operating expenses
(16,269)
(12,093)
(12,820)
6.0%
Operating expenses
(15,482)
(15,730)
Pre-provisiion pre-tax profit
16,507
12,395
15,424
24.4%
Provision
(5,300)
(5,809)
Provision expense
(7,090)
(4,120)
(4,637)
12.5%
Income before tax
10,142
12,192
Adjustment: bad-debt recovery
3,168
2,635
1,909
-27.6%
Income tax
(1,517)
(1,817)
Income before tax
12,584
10,909
12,696
16.4%
Income after tax
8,625
10,375
Income tax
(1,940)
(1,932)
(1,760)
-8.9%
Cummulative effect of change
0
0
Net income
10,645
8,977
10,936
21.8%
in accounting principle
Other items
1,165
148
889
500.7%
Net income
8,625
10,375
Comprehensive income
11,810
9,125
11,826
29.6%
EPS
1.60
1.22
1.48
0.21
starting from 2013, data are stated in accordance with IFRSs, whereas FY2011-2012 are with ROC GAAP.
Full Year Results (TW-GAPP
Year-over-Year Comparison*
  • starting from 2013, data are stated in accordance with IFRSs, whereas FY2011-2012 are with ROC GAAP.

37

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FB Key Ratios

FB Key Ratios FB Key Ratios
FB Key Ratios Year-over-Year Comparison
Full Year Results
~~2011~~
~~2012~~
~~2013~~
~~3Q13~~		 ~~3Q14~~
Loan to deposit spread
Net Interest Margin
Cost to income ratio4
Loan to deposit ratio1
NPL ratio
Coverage ratio
Gross Provision ratio
LLR Ration ( excluding gov. loan)		 1.41%
1.41%
1.49%
1.54%
1.10%
1.10%
1.21%
1.26%
50.06%
50.06%
46.63%
49.38%
84.72%
84.72%
89.49%
86.54%
0.47%
0.47%
0.44%
0.64%
217.90%
217.90%
248.97%
191.46%
--
--
1.09%
1.04%
1.07%
1.17%
1.26%
1.27%
1.55%
1.28%
45.39%
84.49%
0.26%
504.28%
1.26%
1.37%
CAR 10.94%
10.94%
11.51%
10.95%		 10.93%
Tier-1 8.28%
8.28%
8.41%
8.37%		 8.85%
ROAA2
0.43%
0.43%
0.51%
0.57%
ROAE2
8.12%
8.12%
8.58%
9.49%
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,		 0.66%
10.60%

38

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FB Loan Quality

FB NPL Migration in NT$ million or %

FB NPL Migration
in NT$ million or %
2011
2012
2013
Q1
Q2
Q3
3Q13
3Q14
Change
NPL- beginning
10,550
6,373
6,423
6,774
4,152
3,572
6,423
6,774
5.5%
Net new NPL influx
(1,421)
3,493
5,341
(2,097)
589
1,151
5,158
(357)
--
Net write-offs
(2,756)
(3,443)
(4,990)
(525)
(1,169)
(770)
(2,295)
(2,464)
7.4%
NPL- ending balance
6,373
6,423
6,774
4,152
3,572
3,953
9,286
3,953
-57.4%
Allowance for loan loss- beginning
11,877
13,886
15,992
17,730
18,813
18,637
15,992
17,730
10.9%
Provisions for loan loss
4,825
5,705
6,693
1,549
1,053
2,006
4,045
4,608
13.9%
Net write-offs
(2,756)
(3,443)
(4,990)
(525)
(1,169)
(770)
(2,295)
(2,464)
7.4%
Others
(60)
(156)
35
59
(60)
60
36
59
--
Allowance for loan loss- ending
13,886
15,992
17,730
18,813
18,637
19,933
17,778
19,933
12.1%
NPL ratio
0.47%
0.44%
0.47%
0.28%
0.24%
0.26%
0.64%
0.26%
-0.4%
Coverage ratio
217.90%
248.97%
261.73%
453.05% 521.72%
504.28%
191.46%
504.28%
312.8%
General Provision Ratio
1.07%
1.17%
1.26%
1.34%
1.31%
1.37%
1.27%
1.37%
0.1%
Tier 1 Asset Provision Ratio
--
--
1.09%
1.20%
1.20%
1.26%
1.04%
1.26%
0.2%
1. Non-consolidated basis
Year-over-Year Comparison
2014 Quarterly
Full Year

39

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First Sec. Operating Report
2011
2012
2013
3Q13
3Q14
Change
804
659
683
Brokerage commission
500
623
24.6%
408
282
297
Net interest income
202
250
23.8%
43
79
76
Underwriting commission
44
19
-56.8%
(620)
100
292
Transaction gains through F/V, net
235
213
-9.4%
98
113
150
Other operating income
24
79
--
733
1,230
1,498
Total operating income
1,005
1,184
17.8%
(1,476)
(1,388)
(1,410)
Total operating expenses
(951)
(1,031)
8.4%
(14)
21
73
Non-operating income
60
71
18.3%
(759)
(137)
161
Income before tax
114
223
95.6%
(71)
16
(21)
Income tax
(24)
(29)
20.8%
0
0
0
Cummulative effect of change in
--
accounting principles
0
0
(830)
(121)
140
Net income
90
194
115.6%
First Sec Key Ratios
-11.78%
-1.90%
2.19%
ROAE (Annualized)
1.89%
3.93%
107.9%
-4.74%
-0.71%
0.80%
ROAA (Annualized)
0.75%
1.33%
77.3%
Year-over-Year Comparison
Full Year Results
3Q14
F
To






To
N
In
In
C
a
N
F
R
R		 irst
tal o
Broke
Net in
Unde
Pricip
Othe
Total
tal o
on-op
come
come
umm
ccou
et inc		 Sec Income Statement Summary
perating income
rage commission
terest income
rwriting commission
le transaction gains, net
r operating income
operating income
perating expenses
erating income
before tax
tax
ulative effect of change in
nting principles
ome		 623
250
19
213
79
1,184
(1,031)
71
223
(29)
0
194
I
I
irst
OAE
OAA (		 Sec Key Ratios
(Annualized)
Annualized)		 3.93%
1.33%
Br
M		 okera
argin		 ge market share
loan market share		 1.52%
1.62%
1.72%
Brokerage market share
1.68%
1.99%
1.99%
2.37%
Margin loan market share
2.30%		 1.55% -7.7%
3.0%
2.37%

40

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FSITC Operating Report

FSITC Income Statement Summary in NT$ million or %

3Q14 Change
385
1
386
(295)
10
102
(17)
85
0
85		 4.1%
0.0%
4.0%
4.6%
100.0%
8.5%
6.3%
9.0%
--
9.0%
y
FSITC Key Ratios
AUM
97,401
81,568
78,190
65,442
AUM Ranking
5
8
10
10		 71,143
14		 8.7%
--
  1. Non-consolidated basis

41

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– First Aviva Operating Report

First-Aviva Financial Results Summary ~~in NT$ million or %~~
First-Aviva Financial Results Summary
~~in NT$ million or %~~
2011
2012
2013
3Q13
3Q14
Change
Income Statement Summary
Operating Revenue
4,993
7,342
10,330
6,850
10,075
47.1%
Premium Income
4,788
6,381
9,301
6,289
9,298
47.8%
Other insurance income
23
42
82
59
93
57.6%
Net Investment Income
182
910
947
502
685
36.5%
Operating Cost
(4,902)
(7,085)
(9,969)
(6,477)
(9,741)
50.4%
Reinsurance commission
(6)
(10)
(13)
(9)
(14)
55.6%
Reserves
(1,128)
(3,002)
(4,741)
(2,565)
(5,690)
121.8%
Claims
(3,595)
(3,825)
(4,864)
(3,645)
(3,587)
-1.6%
Commission
(172)
(248)
(351)
(258)
(449)
74.0%
Others
0
0
0
0
0
--
Operating Expenses
(359)
(364)
(385)
(276)
(308)
11.6%
Sales related expenses
(56)
(60)
(59)
(38)
(58)
52.6%
Management expenses
(287)
(300)
(304)
(223)
(232)
4.0%
Other expense
(16)
(4)
(22)
15
(18)
-220.0%
Profit/Loss of Operation
(268)
(116)
(24)
97
26
-73.2%
Non-Operating Profit
0
0
0
0
1
--
Profit/Loss Before Tax
(268)
(116)
(24)
97
27
-72.2%
Income tax
0
0
0
0
1
--
Net Income after tax
(268)
(116)
(24)
97
26
-73.2%
Key Ratios
ROAE(Annualized ratio)
-18.82%
-9.29%
-2.21%
11.49%
3.69%
-67.9%
ROAA(Annualized ratio)
-1.29%
-0.51%
-0.09%
0.51%
0.11%
-78.4%
FFHC claims 51% of First-Aviva operating results.
Year-over-Year Comparison
Full Year Result*
  • FFHC claims 51% of First-Aviva operating results.

42

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Q&A

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