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First Financial Holding Co. Ltd. Interim / Quarterly Report 2017

Jun 1, 2017

52222_rns_2017-06-01_ae80cfd0-4096-446a-91c9-07994209dbf8.pdf

Interim / Quarterly Report

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First Financial Holding 20171Q Earnings Result

June 1, 2017

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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

  • Appendix

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At a Glance

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  • Loan book grew by 4.7% YoY, both NTD & F/X demand Rose :

  • Better than expected loan growth of +4.7% YoY in 1Q17 despite of 1Q ends with strong NTD appreciation, see domestic and overseas loan demand resume active.

  • Group 1Q17 earnings slid 2.2 % YoY lack of one-off THSR’s revenue in 1Q16:

1Q17 group posted -2.2% YoY earnings result mainly due to one-off NT 858 mn THSR preferred shares recovery. If not considering, FB bottom line still went up by 9%.

Dividend Payout Raised ：

NT$ 1.20 Cash Dividend and NT$0.20 Stock Dividend distributed for another year of high-dividend yield. (Subject to AGM approval scheduled on June 16, 2017)

5

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1Q 2017 Financial Highlight

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1Q 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
1Q17
4,3091
2,918
2,566,877
0.36
16.26
119,769
8.92%
0.68%
130.82%
106.26%
YoY %
-2.2%
-30.8%
3.6%
-2.7%
-2.9%
4.5%
-3.9%
-5.6%
-10.6%
-1.1%
1Q16
4,4061
4,219
2,477,174
0.37
16.74
114,611
9.28%
0.72%
146.39%
105.18%
1Q17 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
1Q17
4,3091
2,918
2,566,877
0.36
16.26
119,769
8.92%
0.68%
130.82%
106.26%
YoY %
-2.2%
-30.8%
3.6%
-2.7%
-2.9%
4.5%
-3.9%
-5.6%
-10.6%
-1.1%
1Q16
4,4061
4,219
2,477,174
0.37
16.74
114,611
9.28%
0.72%
146.39%
105.18%
Banking
NT$4,320; 102.3%
Securities
NT$99; 2.3%
Investment Trust
NT$15; 0.4%
Others
NT$(61);-1.4%
Insurance
NT$(64); -1.5%

  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. Preliminary data.

  4. Double Leverage = Equity Investment / Shareholder Equity

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Net Income & Comprehensive Income

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1Q17 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (452)
Insurance (1,339)
(1,791)
12,082
(5,225)
2.2%
↓ 30.8%
↓
(757)
4,309
2,918
(1,391)
Net Revenue Provision Operating Income Tax Net Income Other Items Comprehensive
Expense Income
1Q16 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (246)
Insurance (45)
11,069
(291) (5,450)
(922)
4,406 4,219
(187)
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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1Q17 FFHC Net Income Breakdown (in NT$ mn)
↓ 2.2%
↓10.2%
4,320 4,309
FFHC (33)
Aviva (31)
99 15
(64)
First Bank First Securities FSITC First-Aviva FFHC
1Q16 FFHC Net Income Breakdown (in NT$ mn)
4,808
4,406
FFHC (25)
Aviva (24)
19
(74) (49)
First Bank First Securities FSITC First-Aviva FFHC
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  • Major 4 subsidiaries were listed.

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1Q 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
10.50%
9.45% 9.32% 9.28% 9.36% 9.47% 9.10% 8.92%
17,284
15,962
13,407
12,018
8,108 8,746
4,406 4,309
6M 15 9M 15 2015 3M 16 6M 16 9M 16 2016 3M 17
First Bank Net Income & ROAE (in NT$ mn & %)
Cumulative Net Income Annualized ROAE
10.32% 9.60% 9.56% 10.36% 9.86% 9.83% 9.46% 9.00%
17,699
16,100
13,685
12,013
9,072
7,896
4,808 4,320
6M 15 9M 15 2015 3M 16 6M 16 9M 16 2016 3M 17
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1.Minority interests included

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FB 1Q17 Pre-tax Profit

10,698
10,026
1Q16
1Q17
1Q16 1Q17
1Q161Q17
1Q161Q17
1Q161Q17
1Q161Q17
Cumulative Net Revenue
1Q17 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
1Q16
1Q17
Change
NII
64.6%
70.0%
+5.4%
Net Fee
17.7%
15.5%
-2.2%
Gain on ST Invest.
0.2%
0.7%
+0.5%
Gain on LT invest.
1.8%
0.8%
-1.0%
Gain on fin. Products
14.8%
12.7%
-2.1%
Others
0.9%
0.3%
-0.6%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-2.2%
-4.5%
+2.3%
Operating Expense
-44.6%
-45.3%
+0.7%
Income Before Tax
53.2%
50.2%
-3.0%
Net Interest Income
6,906
1,898
1,801
7,018
1,559
1,415
450
230
4,772
4,546
Net Fee Income
Gains on
investment
Provision Expense(net)
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑1.6%
↓17.9%
↓21.4%
-6.3%
↓4.7%		 10,698
10,026
1Q16
1Q17
1Q16 1Q17
1Q161Q17
1Q161Q17
1Q161Q17
1Q161Q17
Cumulative Net Revenue
1Q17 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
1Q16
1Q17
Change
NII
64.6%
70.0%
+5.4%
Net Fee
17.7%
15.5%
-2.2%
Gain on ST Invest.
0.2%
0.7%
+0.5%
Gain on LT invest.
1.8%
0.8%
-1.0%
Gain on fin. Products
14.8%
12.7%
-2.1%
Others
0.9%
0.3%
-0.6%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-2.2%
-4.5%
+2.3%
Operating Expense
-44.6%
-45.3%
+0.7%
Income Before Tax
53.2%
50.2%
-3.0%
Net Interest Income
6,906
1,898
1,801
7,018
1,559
1,415
450
230
4,772
4,546
Net Fee Income
Gains on
investment
Provision Expense(net)
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑1.6%
↓17.9%
↓21.4%
-6.3%
↓4.7%		 10,698
10,026
1Q16
1Q17
1Q16 1Q17
1Q161Q17
1Q161Q17
1Q161Q17
1Q161Q17
Cumulative Net Revenue
1Q17 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
1Q16
1Q17
Change
NII
64.6%
70.0%
+5.4%
Net Fee
17.7%
15.5%
-2.2%
Gain on ST Invest.
0.2%
0.7%
+0.5%
Gain on LT invest.
1.8%
0.8%
-1.0%
Gain on fin. Products
14.8%
12.7%
-2.1%
Others
0.9%
0.3%
-0.6%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-2.2%
-4.5%
+2.3%
Operating Expense
-44.6%
-45.3%
+0.7%
Income Before Tax
53.2%
50.2%
-3.0%
Net Interest Income
6,906
1,898
1,801
7,018
1,559
1,415
450
230
4,772
4,546
Net Fee Income
Gains on
investment
Provision Expense(net)
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑1.6%
↓17.9%
↓21.4%
-6.3%
↓4.7%		 10,698
10,026
1Q16
1Q17
1Q16 1Q17
1Q161Q17
1Q161Q17
1Q161Q17
1Q161Q17
Cumulative Net Revenue
1Q17 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
1Q16
1Q17
Change
NII
64.6%
70.0%
+5.4%
Net Fee
17.7%
15.5%
-2.2%
Gain on ST Invest.
0.2%
0.7%
+0.5%
Gain on LT invest.
1.8%
0.8%
-1.0%
Gain on fin. Products
14.8%
12.7%
-2.1%
Others
0.9%
0.3%
-0.6%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-2.2%
-4.5%
+2.3%
Operating Expense
-44.6%
-45.3%
+0.7%
Income Before Tax
53.2%
50.2%
-3.0%
Net Interest Income
6,906
1,898
1,801
7,018
1,559
1,415
450
230
4,772
4,546
Net Fee Income
Gains on
investment
Provision Expense(net)
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑1.6%
↓17.9%
↓21.4%
-6.3%
↓4.7%		 10,698
10,026
1Q16
1Q17
1Q16 1Q17
1Q161Q17
1Q161Q17
1Q161Q17
1Q161Q17
Cumulative Net Revenue
1Q17 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
1Q16
1Q17
Change
NII
64.6%
70.0%
+5.4%
Net Fee
17.7%
15.5%
-2.2%
Gain on ST Invest.
0.2%
0.7%
+0.5%
Gain on LT invest.
1.8%
0.8%
-1.0%
Gain on fin. Products
14.8%
12.7%
-2.1%
Others
0.9%
0.3%
-0.6%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-2.2%
-4.5%
+2.3%
Operating Expense
-44.6%
-45.3%
+0.7%
Income Before Tax
53.2%
50.2%
-3.0%
Net Interest Income
6,906
1,898
1,801
7,018
1,559
1,415
450
230
4,772
4,546
Net Fee Income
Gains on
investment
Provision Expense(net)
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑1.6%
↓17.9%
↓21.4%
-6.3%
↓4.7%		 10,698
10,026
1Q16
1Q17
1Q16 1Q17
1Q161Q17
1Q161Q17
1Q161Q17
1Q161Q17
Cumulative Net Revenue
1Q17 Cumulative Net Revenue(in NT$ mn or %)
% of FB Net Revenue(in %)
↓32.8%
z
Item
1Q16
1Q17
Change
NII
64.6%
70.0%
+5.4%
Net Fee
17.7%
15.5%
-2.2%
Gain on ST Invest.
0.2%
0.7%
+0.5%
Gain on LT invest.
1.8%
0.8%
-1.0%
Gain on fin. Products
14.8%
12.7%
-2.1%
Others
0.9%
0.3%
-0.6%
Total Revenue
100.0%
100.0%
Provision Expense (net)
-2.2%
-4.5%
+2.3%
Operating Expense
-44.6%
-45.3%
+0.7%
Income Before Tax
53.2%
50.2%
-3.0%
Net Interest Income
6,906
1,898
1,801
7,018
1,559
1,415
450
230
4,772
4,546
Net Fee Income
Gains on
investment
Provision Expense(net)
Operating Expense
FB Revenue/Expense Comparison(in NT$ mn )
↑1.6%
↓17.9%
↓21.4%
-6.3%
↓4.7%
10,698
10,026
1Q16
1Q17
Cumulative Net Revenue
-6.3%
Item
1Q16		 1Q17 Change
NII
64.6%		 70.0% +5.4%
Net Fee
17.7%		 15.5% -2.2%
Gain on ST Invest.
0.2%		 0.7% +0.5%
Gain on LT invest.
1.8%		 0.8% -1.0%
Gain on fin. Products
14.8%		 12.7% -2.1%
Others
0.9%		 0.3% -0.6%
z
Total Revenue
100.0%		 100.0%
Provision Expense (net)
-2.2%		 -4.5% +2.3%
Operating Expense
-44.6%		 -45.3% +0.7%
FB Revenue/Expense Comparison(in NT$ mn ) Income Before Tax
53.2%		 50.2% -3.0%
↓32.8%
6,906
1,898
1,801
7,018
1,559
1,415
↑1.6%
↓17.9%
↓21.4%

Reaudited 1Q16 & 1Q17 full year FB statements due to Property & Casualty subsidiary re-org. into FB from July 1 of 2016. Preliminary Data.

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FB 1Q17 Loan Book Mix

396.7
24.0
403.6
27.4
1Q161Q17
1Q161Q17
↑1.7%
1Q17 Loan Book1 (in NT$ bn or %)
1Q17 Loan Book1 Breakdown(in NT$ bn )
Mortgage
Other Consumer
Loan
1,479.2
1,548.3
1Q16
1Q17
Loan Book1
+4.7%
↑ 14.2%		 396.7
24.0
403.6
27.4
1Q161Q17
1Q161Q17
↑1.7%
1Q17 Loan Book1 (in NT$ bn or %)
1Q17 Loan Book1 Breakdown(in NT$ bn )
Mortgage
Other Consumer
Loan
1,479.2
1,548.3
1Q16
1Q17
Loan Book1
+4.7%
↑ 14.2%		 396.7
24.0
403.6
27.4
1Q161Q17
1Q161Q17
↑1.7%
1Q17 Loan Book1 (in NT$ bn or %)
1Q17 Loan Book1 Breakdown(in NT$ bn )
Mortgage
Other Consumer
Loan
1,479.2
1,548.3
1Q16
1Q17
Loan Book1
+4.7%
↑ 14.2%		 396.7
24.0
403.6
27.4
1Q161Q17
1Q161Q17
↑1.7%
1Q17 Loan Book1 (in NT$ bn or %)
1Q17 Loan Book1 Breakdown(in NT$ bn )
Mortgage
Other Consumer
Loan
1,479.2
1,548.3
1Q16
1Q17
Loan Book1
+4.7%
↑ 14.2%		 787.2
749.4
309.1
330.1
1Q161Q17
1Q161Q17
F/X↑6.8%
Commercial Loan
(Gov./SOE included)
F/X Loan
Item
1Q16
1Q17
Change
Consumer
28.4%
27.9%
-0.5%
Mortgage
26.8%
26.1%
-0.7%
Other Consumer Loan
1.6%
1.8%
+0.2%
Corporate Banking
71.6%
72.1%
-0.5%
Commercial Loan
(Gov./SOE included) )
50.7%
50.8%
+0.1%
--- SME
40.2%
41.6%
+1.4%
F/X/ Loan
20.9%
21.3%
+0.4%
--- Overseas
12.2%
12.6%
+0.4%
Loan Book1
100.0%
100.0%
% of Loan Book1
↑5.0%
SME2
595.1
SME2
610.6
Overseas
180.2
SME↑8.1%
Overseas
194.4
Overseas
↑ 7.9%
SME2
643.5		 787.2
749.4
309.1
330.1
1Q161Q17
1Q161Q17
F/X↑6.8%
Commercial Loan
(Gov./SOE included)
F/X Loan
Item
1Q16
1Q17
Change
Consumer
28.4%
27.9%
-0.5%
Mortgage
26.8%
26.1%
-0.7%
Other Consumer Loan
1.6%
1.8%
+0.2%
Corporate Banking
71.6%
72.1%
-0.5%
Commercial Loan
(Gov./SOE included) )
50.7%
50.8%
+0.1%
--- SME
40.2%
41.6%
+1.4%
F/X/ Loan
20.9%
21.3%
+0.4%
--- Overseas
12.2%
12.6%
+0.4%
Loan Book1
100.0%
100.0%
% of Loan Book1
↑5.0%
SME2
595.1
SME2
610.6
Overseas
180.2
SME↑8.1%
Overseas
194.4
Overseas
↑ 7.9%
SME2
643.5
Item
1Q16
1Q17
Change
Consumer
28.4%
27.9%
-0.5%
Mortgage
26.8%
26.1%
-0.7%
Other Consumer Loan
1.6%
1.8%
+0.2%
Corporate Banking
71.6%
72.1%
-0.5%
Commercial Loan
(Gov./SOE included) )
50.7%
50.8%
+0.1%
--- SME
40.2%
41.6%
+1.4%
F/X/ Loan
20.9%
21.3%
+0.4%
--- Overseas
12.2%
12.6%
+0.4%
+0.4%
Loan Book1
100.0%
100.0%
396.7
24.0
403.6
27.4
1Q161Q17
1Q161Q17
↑1.7%
1Q17 Loan Book1 Breakdown(in NT$ bn )
Mortgage
Other Consumer
Loan
↑ 14.2%		 787.2
749.4
309.1
330.1
1Q161Q17
1Q161Q17
F/X↑6.8%
Commercial Loan
(Gov./SOE included)
F/X Loan
↑5.0%
SME2
595.1
SME2
610.6
Overseas
180.2
SME↑8.1%
Overseas
194.4
Oversea
↑ 7.9%
SME2
643.5
1Q161Q17
1Q161Q17
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%
-0.6%
-0.4%
-0.7%
5.4%
+0.2%		 QoQ%
-0.6%
-0.4%
-0.7%
5.4%
+0.2%
309.1
327.0
322.1
329.5
330.1
154.3
131.5
137.7
136.4
143.7
595.1
610.6
625.1
647.8
643.5
24.0
25.0
25.5
27.5
27.4
396.7
400.1
403.9
405.9
403.6
1Q16
2Q16
3Q16
4Q16
1Q17
SME
Mortgage
Commercial
Loan
1,479.2
1,494.2
1,514.3
1,547.1
1548.3
F/X loan
Total loan
Consumer
Loan
Others		 QoQ%
-0.6%
-0.4%
-0.7%
5.4%
+0.2%
-0.6%
-04%
.
-0.7%
5.4%
+0.2%
1Q16
2Q16
3Q16
4Q16
1Q17

14

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FB 1Q17 LDR, SPREAD &NIM

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

Total Loan & LDR (in NT$ bn or % ) Total Loan [1] LDR [2]
80.21% 80.48%
78.55% 77.94% 76.88% 77.30% 78.56% 79.15% 79.04%
1,456.2 1,431.1 1,468.0 1,489.5 1,482.6 1,497.3 1,517.3 1,550.8 1,552.3
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
△
Loan-Deposit Spread / NIM ( in % ) Spread [3] NIM [3]
1.60% 1.62% 1.61% 1.63% 1.64% 1.64% 1.64% 1.65% 1.63%
1.29% 1.28%
1.25% 1.26% 1.27% 1.26% 1.26% 1.26% 1.26%
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
----- 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

15

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FB 1Q17 Deposit Mix

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

FB Deposit Structure (in NT$ bn ) FB NTD Deposit CASA Rate (in %)
NTD Deposit F/X deposit
NTD CASA rate
1Q17 Total
Deposit
492.9 505.5
$1928.1 bn △
67.09% 66.59%
65.03% 65.17%
63.82%
+0.6%
1,424.10 1,422.5
1H15 2H15 1H16 2H16 1Q17
1Q16 1Q17
----- End of picture text -----*

16

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FB 1Q17 Fee Income Breakdown

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

1Q17 Cumulative Net Fee Income (in NT$ mn or %) % of Cumulative Net Fee
Item 1Q16 1Q17 Change
1,559 WM [1 ] 51.2% 52.2% +1.0%
Loan-related 20.6% 18.3% -2.3%
1,898 -17.9%
F/X 12.1% 13.5% +1.4%
Credit Card 4.5% 5.5% +1.0%
1Q16 1Q17
Other [2] 11.6% 10.5% -1.1%
Net Fee Income Cumulative Net Fee 100.0% 100.0%
1Q17 Cumulative Net Fee Breakdown ( in NT$ mn )
↓16.2%
971 ↓27.3%
814
↓ 23.7% 392 285
229 211 85 221 164
↑3.0% 85
1Q16 1Q17 1Q16 1Q17 1Q16 1Q17 1Q16 1Q17 1Q16 1Q17
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

  3. Reaudited 1Q16 & 1Q17 FB statements due to Property & Casualty subsidiary merged into FB from July 1 of 2016.

17

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FB 1Q17 Cost-to-Income Ratio
1Q17 Cumulative Operating Expense (in NT$ mn ) Cost-to-Income Ratio Analysis( in NT$ mn)
Item 1Q16 1Q17
4,546 Net Revenue 10,698 10,026
Operating Expense (4,772) (4,546)
4,772 -4.7% Provision(Net) (230) (450)
Income Tax (889) (709)
1Q16
1Q17
Operating Expense Net Income 4,808 4,320
Quarterly Operating Expense & Cumulated Cost-to-Income Ratio ( in NT$ mn or % )
Net Revenue Operating Expense
Cumulated Cost-to-Income Ratio
44.61% 44.84% 44.65% 45.65% 45.34%
10,698 10,036 10,682 10,245 10,026
4,772 4,567 4,732 4,990 4,546
1Q16 2Q16 3Q16 4Q16 1Q17

Reaudited 1Q16 & 1Q17 FB statements due to Property & Casualty subsidiary merged into FB from July 1 of 2016.

18

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FB 1Q17 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)
775.31%
751.03%
692.31%
635.75% 588.67% 625.14%
537.82%
1.40%
1.40% 1.36%
1.30%
1.22%
1.21% 1.18%
NPL Ratio NPL NPL Reserve
0.22%
0.18% 0.19% 0.19% 0.20% 0.20% 0.20%
20,124 20,738 19,932 19,451 18,276 18,973 18,205
2,596 2,761 2,879 3,060 3,105 3,035 3,385
9M15 2015 3M16 6M16 9M16 2016 3M17
----- End of picture text -----

19

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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
0.26%
0.23%
0.21% 0.32% 0.35%
0.22% 0.19% 0.23% 0.30% 0.30% 0.28%
0.18%
0.20% 0.06% 0.06%
0.00% 0.00% 0.00%
0.18%
0.16%
1Q16 2Q16 3Q16 4Q16 1Q17 1Q16 2Q16 3Q16 4Q16 1Q17
Domestic NPL Ratio (in %) Overseas NPL Ratio (in %)
Domestic Overseas
0.23% 0.24%
0.22% 0.21% 0.19% 0.19% 0.23%
0.09% 0.10% 0.11%
1Q16 2Q16 3Q16 4Q16 1Q17
1Q16 2Q16 3Q16 4Q16 1Q17
----- End of picture text -----

  1. Individual: mortgage and non-mortgage loan included

  2. bad-debt recovery not included.

20

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CAR & Core Capital

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

FFHC Group CAR(in %)
Re-cap.
153.43%
CAR
139.14%
132.75% 131.84% 130.82%
125.34%
123.04% 121.24%
statutory CAR 100%
FB CAR & Core Capital(in %)
Re-cap.
13.67% 13.46% 13.27% 13.31%
12.27%
10.90% 10.88% 11.50% CAR
Tier 1
10.93% 10.86% 10.95% 11.11%
9.45%
8.31% 8.64% 9.02%
2H13 1H14 2H14 1H15 2H15 1H16 2H16 1Q17
2H13 1H14 2H14 1H15 2H15 1H16 2H16 1Q17
----- End of picture text -----

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

  • •Preliminary data for 1Q17.

21

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Shareholder Return

2016
1.20
0.20
1.40
82.8%
1.40
1.45 1
2016
2
FFHC Earnings Per 1.10
1.20
1.35
1.18
1.18
1.43
Share ( in NT$ dollar )		 1.40
1.48		 1.40
1.45 1
2016
EPS
Dividend
2012
2013
2014		 2015
2012
2013
2014		 2015 2016
2
Cash dividend
0.45
0.50
0.70		 0.95 1.20
Stock dividend
0.65
0.70
0.65		 0.45 0.20
Total dividend
1.10
1.20
1.35		 1.40 1.40
CASH Payout
ratio
38.1%
42.4%
49.0%		 64.2% 82.8%

  1. EPS is adjusted retroactively for stock dividends

  2. 2016’s dividend proposal is subject to final approval at 2017 AGM meeting on June 16.

22

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Appendix

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FFHC Consolidated Statement of Comprehensive Income

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

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

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

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

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

 FFHC Consolidated Statement of Comprehensive Income (in NT$ million or %)
2014
2015
2016
28,278
28,452
28,801
7,428
8,502
8,723
(6,533)
121
1,351
1,373
1,152
2,569
172
146
163
417
541
951
(26)
(588)
(75)
2,172
1,707
935
(6)
(10)
(39)
911
825
1,712
34,186
40,848
45,091
(4,015)
(518)
(2,244)
7,101
540
(871)
(20,789)
(21,893)
(21,779)
16,483
18,976
20,197
(2,405)
(3,014)
(2,913)
14,078
15,962
17,284
3,420
413
(2,354)
17,497
16,375
14,930
14,085
16,006
17,356
(7)
(44)
(72)
17,542
16,461
15,023
(45)
(86)
(93)
1.43
1.48
1.45
~~IFRS~~		 1Q16
1Q17
Change
7,157
7,273
1.6%
2,311
1,719
-25.6%
159
1,475
--
909
1,888
107.7%
40
14
-65.0%
144
110
-23.6%
(196)
55
--
(20)
(521)
2505.0%
0
(15)
--
565
84
-85.1%
11,069
12,082
9.2%
(246)
(452)
--
(45)
(1,339)
--
(5,450)
(5,225)
-4.1%
5,328
5,066
-4.9%
(922)
(757)
-17.9%
4,406
4,309
-2.2%
(187)
(1,391)
643.9%
4,219
2,918
-30.8%
4,430
4,340
-2.0%
(24)
(31)
--
4,220
2,939
-30.4%
(1)
(21)
2000.0%
0.37
0.36
-2.7%
~~Year-over-Year Comparison~~
1Q16 1Q17 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
Consolidated net income		 7,157
2,311
159
909
40
144
(196)
(20)
0
565
11,069
(246)
(45)
(5,450)
5,328
(922)
4,406		 7,273
1,719
1,475
1,888
14
110
55
(521)
(15)
84
12,082
(452)
(1,339)
(5,225)
5,066
(757)
4,309		 1.6%
-25.6%
--
107.7%
-65.0%
-23.6%
--
2505.0%
--
-85.1%
9.2%
--
--
-4.1%
-4.9%
-17.9%
-2.2%
Other Items
Comprehensive Income		 (187)
4,219		 (1,391)
2,918		 643.9%
-30.8%
Net Income attributed to:
Parent
Minorityinterests		 4,430
(24)		 4,340
(31)		 -2.0%
--
Comprehensive Income attributed to:
Parent
Minorityinterests		 4,220
(1)		 2,939
(21)		 -30.4%
2000.0%
EPS1(NT$)
0.37 0.36 -2.7%

24

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FFHC Non-consolidated Income Statement

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

in NT$ million, NT$, or %
Full Year Results Year-over-Year Comparison
2014 2015 2016 1Q16 **1Q17 ** Change
Operating revenues
Income from long-term investment 13,904 16,431 17,857 4,849 4,496 -7.3%
Other income1 289 213 242 2 0 -100.0%
Total revenues 14,194 16,644 18,099 4,852 4,496 -7.3%
Loss from long-term investment (8) (114) (304) (304) (33) -89.1%
Operating expenses (264) (373) (338) (79) (83) 5.1%
Other expenses and losses (159) (192) (145) (39) (40) 2.6%
Income from continued op. before tax 13,763 15,965 17,312 4,430 4,340 -2.0%
Income from continued op. after tax 14,085 16,006 17,356 4,430 4,340 -2.0%
Income from discontinued op., net of tax 0 0 0 0 0 --
Net income 14,085 16,006 17,356 4,430 4,340 -2.0%
EPS2(NT$) 1.43 1.48 1.45 0.37 0.36 -2.7%

  1. Including income other than long-term investment

  2. EPS is adjusted retroactively for stock dividends

25

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FFHC Balance Sheet
FFHC Balance Sheet Summary
in NT$ million or million shares
1Q16
1Q17 Change
201,790
206,896
2.5%
206,565
208,501
0.9%
14,705
13,787
-6.2%
191,860
194,714
1.5%
2,477,174
2,566,877
3.6%
2,284,968
2,371,930
3.8%
192,206
194,947
1.4%
191,860
194,714
1.5%
346
233
-32.7%
114,611
119,768
4.5%
Year-over-Year Comparison
1Q16 **1Q17 ** Change
201,790
206,565
14,705
191,860
2,477,174
2,284,968
192,206
191,860
346
114,611		 206,896
208,501
13,787
194,714
2,566,877
2,371,930
194,947
194,714
233
119,768		 2.5%
0.9%
-6.2%
1.5%
3.6%
3.8%
1.4%
1.5%
-32.7%
4.5%

26

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FFHC Key Ratios

==> picture [37 x 386] intentionally omitted <==

FFHC Key Ratios Full Year Results
2014
2015
2016
0.61%
0.66%
0.69%
9.53%
9.32%
9.10%
16.63
16.37
16.01
92,593
114,611
119,769
109.06%
105.23%
106.29%
125.34%
153.43%
139.14%
10.53%
7.07%
6.53%
Year-over-Year Comparison
1Q16 **1Q17 ** Change
After-tax ROAA (Annualized ratio)
After-tax ROAE (Annualized ratio)
Book Per Share
Capital Stock
Double leverage1
Group CAR2
Debt Ratio3		 0.72%
9.28%
16.74
114,611
105.18%
146.39%
7.12%		 0.68%
8.92%
16.26
119,769
106.26%
130.82%
6.61%		 -5.6%
-3.9%
-2.9%
4.5%
1.0%
-10.6%
-7.2%

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

  2. Updated semi-annually.

  3. Non-consolidated basis.

27

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FB Income Statement

==> picture [51 x 421] intentionally omitted <==

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

FB Income Statement
FB Comrehensive Income Statement Summar(Standalone)
bject to final Reviewed
p y
in NT$ million or %
2014
2015
2016
1Q16
1Q17
Change
Net interest income
27,138
27,496
27,797
6,906
7,018
1.6%
Net fee income
6,190
7,790
8,035
1,898
1,559
-17.9%
Net gain on ST invest.
(151)
(49)
274
25
67
168.0%
Net gain on LT invest.
666
177
433
196
78
-60.2%
Net gain on other fin. products
3,496
2,823
4,344
1,580
1,270
-19.6%
Other net income
181
349
654
93
34
-63.4%
Net revenue
37,520
38,586
41,537
10,698
10,026
-6.3%
Operating expenses
(17,736)
(18,997)
(18,963)
(4,772)
(4,546)
-4.7%
Pre-provisiion pre-tax profit
19,784
19,589
22,574
5,926
5,480
-7.5%
Provision expense
(6,161)
(3,027)
(4,396)
(800)
(874)
9.3%
Adjustment: bad-debt recovery
2,240
2,554
2,346
570
424
-25.6%
Income before tax
15,862
19,115
20,524
5,696
5,030
-11.7%
Income tax
(2,481)
(3,015)
(2,825)
(889)
(709)
-20.2%
Netincome
13,381
16,100
17,699
4,808
4,320
-10.1%
Other items
3,242
995
(2,099)
(183)
(1,577)
761.7%
Comprehensiveincome
16,623
17,095
15,599
4,624
2,743
-40.7%
EPS
1.81
1.93
1.99
0.54
0.49
(0.09)
preliminary data for 1Q17
IFRSs
Year-over-Year Comparison*

28

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FB Key Ratios

FB Key Ratios FB Key Ratios FB Key Ratios
FB Key Ratios
Full Year Results **Year-over-Year Comparison **
1Q17
Change
1.63%
-0.61%
1.26%
-0.79%
45.34%
1.64%
80.48%
4.11%
0.22%
15.79%
1.14%
-4.20%
1.18%
-13.24%
537.82%
-22.32%
13.31%
-4.52%
11.11%
-1.59%
0.68%
-15.00%
9.00%
-13.13%
2014
2015
2016
1.55%
1.63%
1.65%
1.28%
1.26%
1.26%
47.27%
49.23%
45.65%
83.03%
76.88%
79.04%
0.20%
0.19%
0.20%
1.24%
1.19%
1.16%
1.37%
1.40%
1.22%
680.71%
751.03%
625.14%		 1Q16 1Q17
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		 1.64%
1.27%
44.61%
77.30%
0.19%
1.19%
1.36%
692.31%		 1.63%
1.26%
45.34%
80.48%
0.22%
1.14%
1.18%
537.82%
CAR
Tier-1		 11.50%
13.67%
13.27%
9.02%
10.93%
10.95%		 13.94%
11.29%		 13.31%
11.11%
ROAA2
0.60%
0.69%
0.72%
ROAE2
9.40%
9.56%
9.46%
1. Loan to depoist ratio = total loan / total deposit
2. Annualized figures.		 0.80%
10.36%		 0.68%
9.00%

29

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FB Loan Yields

FB Loan Yields Q1
Q2
Q3
Q4
2.06% 2.01% 1.95%
1.95%
0.52% 0.49% 0.45%
0.44%
1.54% 1.52% 1.50%
1.51%
2.91% 2.85% 2.89%
3.00%
0.84% 0.75% 0.72%
0.73%
2.07% 2.10% 2.17%
2.27%
2016
2014 2015 2017
Q2
Q3
Q4		 Q1
Q2
Q3
Q4		 Q1
NTD Yields & Costs
Loan Rate
Deposit Rate
Spread		 2.12% 2.16% 2.20%
0.60% 0.60% 0.60%
1.52% 1.56% 1.60%		 2.18% 2.18% 2.19% 2.18%
0.59% 0.59% 0.59% 0.56%
1.59% 1.59% 1.60% 1.62%		 1.91%
0.43%
1.48%
FX Yields & Costs
Loan Rate
Deposit Rate
Spread		 2.65% 2.51% 2.29%
0.98% 0.92% 0.84%
1.67% 1.59% 1.45%		 2.52% 2.57% 2.31% 2.74%
0.88% 0.85% 0.72% 0.83%
1.65% 1.72% 1.59% 1.91%		 3.12%
0.84%
2.28%

30

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FB Loan Quality

FB NPL Migration in NT$ million or %

FB Loan Quality FB Loan Quality FB Loan Quality FB Loan Quality FB Loan Quality FB Loan Quality FB Loan Quality
FB NPL Migration
in NT$ million or % Q1
Q2
Q3
Q4
2,761
2,879
3,060
3,105
1,637
1,628
1,983
918
1,607
891
1,391
722
30
737
592
196
(1,519)
(1,447)
(1,938)
(988)
2,879
3,060
3,105
3,035
20,738
19,932
19,451
18,276
740
971
850
1,677
(1,519)
(1,447)
(1,938)
(988)
(27)
(5)
(87)
8
19,932
19,451
18,276
18,973
569
352
277
1149
546
316
253
960
8
22
9
175
15
14
15
14
2016 Quarterly
Year-over-Year Comparison
1Q16 1Q17 Change
2,761
1,637
1,607
30
(1,519)
2,879
20,738
740
(1,519)
(27)
19,932
569
546
8
15		 3,035
1,700
1,320
380
(1,350)
3,385
18,973
775
(1,350)
(193)
18,205
424
369
43
12
1. Non-consolidated basis
  1. Non-consolidated basis

31

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First Sec. Operating Report

First Sec Income Statement Summary in NT$ million or %

32

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FSITC Operating Report

FSITC Income Statement Summary in NT$ million or %

Year-over-Year Comparison Year-over-Year Comparison Year-over-Year Comparison
1Q16 1Q17 Change
109
0
109
(88)
2
22
(3)
19
0
19		 112
1
113
(97)
2
18
(3)
15
0
15		 2.8%
--
3.7%
10.2%
0.0%
-18.2%
0.0%
-21.1%
--
-21.1%
y
FSITC Key Ratios
AUM
72,651
97,016
94,461
AUM Ranking
11
8
8		 93,564
8		 94,858 1.4%
--
7
  1. Non-consolidated basis

33

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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 %~~
2014
2015
2016
1Q16
1Q17
Change
Income Statement Summary
Operating Revenue
14,903
11,576
7,520
1,467
3,196
117.9%
Premium Income
13,436
11,820
7,235
2,290
3,484
52.1%
Other insurance income
136
233
244
59
64
8.5%
Net Investment Income
1,331
(476)
41
(883)
(352)
-60.1%
Operating Cost
(14,531)
(11,164)
(7,157)
(1,398)
(3,133)
124.1%
Reinsurance commission
(20)
(27)
(34)
(8)
(9)
12.5%
Reserves
(1,623)
(2,994)
2,037
1,330
(930)
-169.9%
Claims
(12,230)
(7,412)
(8,502)
(2,553)
(1,984)
-22.3%
Commission
(633)
(691)
(586)
(152)
(185)
21.7%
Others
(25)
(40)
(72)
(15)
(25)
--
Operating Expenses
(397)
(501)
(513)
(119)
(139)
16.8%
Sales related expenses
(88)
(113)
(83)
(17)
(25)
47.1%
Management expenses
(309)
(388)
(430)
(102)
(114)
11.8%
Other expense
0
0
0
0
0
#DIV/0!
Profit/Loss of Operation
(25)
(89)
(150)
(49)
(76)
55.1%
Non-Operating Profit
11
0
0
0
0
--
Profit/Loss Before Tax
(14)
(89)
(150)
(49)
(76)
55.1%
Income tax
(1)
(1)
(3)
0
12
--
Net Income after tax
(15)
(90)
(147)
(49)
(64)
30.6%
Key Ratios
ROAE(Annualized ratio)
-1.60%
-11.26%
-23.91%
-27.92%
-51.44%
84.2%
ROAA(Annualized ratio)
-0.05%
-0.28%
-0.45%
-0.60%
-0.80%
33.3%
FFHC claims 51% of First-Aviva operating results.
Year-over-Year Comparison
Full Year Result*
  • FFHC claims 51% of First-Aviva operating results.

34

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Q&A

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