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First Financial Holding Co. Ltd. — Interim / Quarterly Report 2019
Dec 6, 2019
52222_rns_2019-12-06_b26b296b-0451-4774-9014-741b22f55dec.pdf
Interim / Quarterly Report
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Daiwa Non-Deal Roadshow First Financial Holding 3Q 2019 Earnings Result Tokyo, Dec. 2019
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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
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Company Overview
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At a Glance
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Financial Highlight
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Operating Results
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Appendix
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Company Overview
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Overview of First Financial Holding
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Founded in 1899, First Commercial Bank ( “ FCB ” ) stands for well-recognized franchise name, one of the “ Top Three ” commercial banks, supported by extensive branch network both domestic and overseas.
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First Financial, formed in 2003, with First Bank as its flagship entity .
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Strong deposit franchise and distribution channels – low funding cost & high CASA rate
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With Security, Asset management and Life Insurance subsidiary business, First Financial Holding remain keen for further expansion.
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2019/9
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Deposit mkt share 5.7%
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Loan mkt share 5.9%
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FFHC asset size Top 9
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SME Lending Top 1 (10.11%)
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Trade Finance Top 3
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Custodian Top 1
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Bank channels Top 2 (188 domestic /41 overseas)
Financial Summary
| $mn, except per share amounts |
2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|
| Total Revenues | 40,848 | 45,091 | 50,827 | 60,249 |
| Net Income | 15,962 | 17,284 | 15,432 | 17,332 |
| EPS | 1.48 | 1.42 | 1.25 | 1.40 |
| ROAE (annualized) | 9.32% | 9.10% | 8.04% | 8.58% |
3Q19 Financial Summary
| in NT$ mn | ||
|---|---|---|
| First Commercial Bank | Net Income | 15,043 |
| First Securities | Net Income | 173 |
| First Sec. Investment Trust | Net Income | 68 |
| First Life Insurance | Net Income | 267 |
FFHC Ownership Profile
| Government (Direct 18.94%; Indirect: 7.25%) 26.19% | Other Investors: 47.49% |
|---|---|
| 5 Foreign Institution: 26.32% |
D |
Data as of 2019/4/23
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At a Glance
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3Q19 Snapshot
3Q19 remained intact , grew by +7.2% YoY: Profitability accelerated in 3Q19, Bank booked +6.2% net-income growth ；Life posted NT$267 mn net till 3Q19, a record high level.
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SME & corp. loan demand simultaneously picked up in 3Q19: Back-home investment flow lured by Taiwan government boosted CAPEXrelated lending from corporates as well as their supply chains, shall expect follow up investment boom in 2020.
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Warm real-estate price supported mortgage lending (+6.7% YoY) and wealth MGT rotated to mutual fund sales :
Residential housing transaction boosted mortgage lending while 2H19 wealth MGT focus has shifted to mutual fund products as bancassurance began to wane.
Normalized credit cost in 2H19 and upcoming 2020:
Credit cost (20 bps, annualized) remained contained in 3Q19 with flattish outlook in coming 2020.
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3Q19 Financial Highlight
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3Q19 Key Figures
| % Key Figures ( in NT$ 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 3Q18 14,3411 15,945 2,882,678 1.15 16.49 123,386 9.51% 0.69% 126.80% 105.90% 3Q19 15,3771 22,749 3,016,430 1.23 17.31 124,619 9.73% 0.69% 121.03% 105.80% YoY % 7.2% 42.7% 7.8% 7.0% 5.0% 1.0% 2.3% 0.0% -4.6% -0.1% |
|
|---|---|
| 3Q19 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 3Q18 14,3411 15,945 2,882,678 1.15 16.49 123,386 9.51% 0.69% 126.80% 105.90% 3Q19 15,3771 22,749 3,016,430 1.23 17.31 124,619 9.73% 0.69% 121.03% 105.80% YoY % 7.2% 42.7% 7.8% 7.0% 5.0% 1.0% 2.3% 0.0% -4.6% -0.1% |
| Banking NT$15,043; 97.8% Securities NT$173;1.2% Investment Trust NT$68; 0.4 % Others NT$(267); -1.7 Insurance NT$267; 1.7% AMC NT$93; 0.6% |
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Based on the classification of specific company’s business units, financial information by business segments should be listed individually.
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Comprehensive Income Statement is required by IFRS.
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Annualized figures. . 4. Preliminary data for 3Q19..
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Double Leverage = Equity Investment / Shareholder Equity
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Net Income & Comprehensive Income
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3Q19 Consolidated Net Income & Comprehensive Income (in NT$ mn)
↓ 36.7%
47,075 (2,643) ↑42.7 %
(8,293)
(17,666) ↑ 7.2%
22,749
(3,096)
15,377
Net Revenue Credit Charge Insurance Operating Income Tax Net Income Comprehensive
Reserves Expense Income
3Q18 Consolidated Net Income & Comprehensive Income (in NT$ mn)
46,591 (4,178)
(8,778)
(16,973)
(2,321)
14,341 15,945
Net Revenue Credit Charge Insurance Operating Income Tax Net Income Comprehensive
Reserves Expense Income
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Net Income Breakdown by Subsidiaries*
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3Q19 FFHC Net Income Breakdown (in NT$ mn)
↑ 7.2%
↑ 6.2%
15,043 15,377
Turn Positive
173 68 267 93
First Bank First Securities FSITC First Life AMC FFHC
3Q18 FFHC Net Income Breakdown (in NT$ mn)
14,163 14,341
214 83 115
(91)
First Bank First Securities FSITC First Life AMC FFHC
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- Major 5 subsidiaries were listed.
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3Q19 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
10.29% 8.04% 9.16% 9.70% 9.51% 8.58% 9.16% 9.52% 9.73%
17,332
14,832 15,432 14,341 15,377
9,605 9,914
4,592 4,810
9M 17 2017 3M18 6M18 9M18 2018 3M 19 6M 19 9M 19
First Bank Net Income & ROAE (in NT$ mn & %)
Cumulative Net Income Annualized ROAE
10.15% 7.91% 9.16% 9.34% 9.40% 8.71% 9.00% 9.34% 9.55%
17,531
14,565 15,142 14,163 15,043
9,243 9,708
4,562 4,715
9M 17 2017 3M 18 6M 18 9M 18 2018 3M 19 6M 19 9M 19
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FB 3Q19 Pre-tax Profit
| 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 Cumulative Net Revenue 3Q19 Cumulative Net Revenue(in NT$ mn or %) % of FB Net Revenue(in %) ↓32.8% z Item 3Q18 3Q19 Change NII 61.1% 58.1% -3.0% Net Fee 16.3% 15.9% -0.4% Gain on ST Invest. 0.8% 1.4% +0.6% Gain on LT invest. 2.2% 2.4% -0.2% Gain on fin. Products 18.4% 21.6% +3.2% Others 1.2% 0.6% -0.6% Total Revenue 100.0% 100.0% Provision Expense (net) -11.8% -7.2% -4.6% Operating Expense -41.8% -42.9% +1.1% Income Before Tax 46.4% 49.9% +3.5% Net Interest Income Net Fee Income Gains on investment Operating Expense FB Revenue/Expense Comparison(in NT$ mn ) ↓2.9% ↓0.4% ↑ 21.2% +2.2% 21,469 5,712 7,514 14,674 20,843 5,689 9,106 4,624 15,409 6,236 2,093 2,046 Provision Exp.1 Recovery 35,120 35,886 3Q18 3Q19 ↓25.9% ↑ 5.0% |
3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 Cumulative Net Revenue 3Q19 Cumulative Net Revenue(in NT$ mn or %) % of FB Net Revenue(in %) ↓32.8% z Item 3Q18 3Q19 Change NII 61.1% 58.1% -3.0% Net Fee 16.3% 15.9% -0.4% Gain on ST Invest. 0.8% 1.4% +0.6% Gain on LT invest. 2.2% 2.4% -0.2% Gain on fin. Products 18.4% 21.6% +3.2% Others 1.2% 0.6% -0.6% Total Revenue 100.0% 100.0% Provision Expense (net) -11.8% -7.2% -4.6% Operating Expense -41.8% -42.9% +1.1% Income Before Tax 46.4% 49.9% +3.5% Net Interest Income Net Fee Income Gains on investment Operating Expense FB Revenue/Expense Comparison(in NT$ mn ) ↓2.9% ↓0.4% ↑ 21.2% +2.2% 21,469 5,712 7,514 14,674 20,843 5,689 9,106 4,624 15,409 6,236 2,093 2,046 Provision Exp.1 Recovery 35,120 35,886 3Q18 3Q19 ↓25.9% ↑ 5.0% |
3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 Cumulative Net Revenue 3Q19 Cumulative Net Revenue(in NT$ mn or %) % of FB Net Revenue(in %) ↓32.8% z Item 3Q18 3Q19 Change NII 61.1% 58.1% -3.0% Net Fee 16.3% 15.9% -0.4% Gain on ST Invest. 0.8% 1.4% +0.6% Gain on LT invest. 2.2% 2.4% -0.2% Gain on fin. Products 18.4% 21.6% +3.2% Others 1.2% 0.6% -0.6% Total Revenue 100.0% 100.0% Provision Expense (net) -11.8% -7.2% -4.6% Operating Expense -41.8% -42.9% +1.1% Income Before Tax 46.4% 49.9% +3.5% Net Interest Income Net Fee Income Gains on investment Operating Expense FB Revenue/Expense Comparison(in NT$ mn ) ↓2.9% ↓0.4% ↑ 21.2% +2.2% 21,469 5,712 7,514 14,674 20,843 5,689 9,106 4,624 15,409 6,236 2,093 2,046 Provision Exp.1 Recovery 35,120 35,886 3Q18 3Q19 ↓25.9% ↑ 5.0% |
3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 Cumulative Net Revenue 3Q19 Cumulative Net Revenue(in NT$ mn or %) % of FB Net Revenue(in %) ↓32.8% z Item 3Q18 3Q19 Change NII 61.1% 58.1% -3.0% Net Fee 16.3% 15.9% -0.4% Gain on ST Invest. 0.8% 1.4% +0.6% Gain on LT invest. 2.2% 2.4% -0.2% Gain on fin. Products 18.4% 21.6% +3.2% Others 1.2% 0.6% -0.6% Total Revenue 100.0% 100.0% Provision Expense (net) -11.8% -7.2% -4.6% Operating Expense -41.8% -42.9% +1.1% Income Before Tax 46.4% 49.9% +3.5% Net Interest Income Net Fee Income Gains on investment Operating Expense FB Revenue/Expense Comparison(in NT$ mn ) ↓2.9% ↓0.4% ↑ 21.2% +2.2% 21,469 5,712 7,514 14,674 20,843 5,689 9,106 4,624 15,409 6,236 2,093 2,046 Provision Exp.1 Recovery 35,120 35,886 3Q18 3Q19 ↓25.9% ↑ 5.0% |
3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 Cumulative Net Revenue 3Q19 Cumulative Net Revenue(in NT$ mn or %) % of FB Net Revenue(in %) ↓32.8% z Item 3Q18 3Q19 Change NII 61.1% 58.1% -3.0% Net Fee 16.3% 15.9% -0.4% Gain on ST Invest. 0.8% 1.4% +0.6% Gain on LT invest. 2.2% 2.4% -0.2% Gain on fin. Products 18.4% 21.6% +3.2% Others 1.2% 0.6% -0.6% Total Revenue 100.0% 100.0% Provision Expense (net) -11.8% -7.2% -4.6% Operating Expense -41.8% -42.9% +1.1% Income Before Tax 46.4% 49.9% +3.5% Net Interest Income Net Fee Income Gains on investment Operating Expense FB Revenue/Expense Comparison(in NT$ mn ) ↓2.9% ↓0.4% ↑ 21.2% +2.2% 21,469 5,712 7,514 14,674 20,843 5,689 9,106 4,624 15,409 6,236 2,093 2,046 Provision Exp.1 Recovery 35,120 35,886 3Q18 3Q19 ↓25.9% ↑ 5.0% |
3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 Cumulative Net Revenue 3Q19 Cumulative Net Revenue(in NT$ mn or %) % of FB Net Revenue(in %) ↓32.8% z Item 3Q18 3Q19 Change NII 61.1% 58.1% -3.0% Net Fee 16.3% 15.9% -0.4% Gain on ST Invest. 0.8% 1.4% +0.6% Gain on LT invest. 2.2% 2.4% -0.2% Gain on fin. Products 18.4% 21.6% +3.2% Others 1.2% 0.6% -0.6% Total Revenue 100.0% 100.0% Provision Expense (net) -11.8% -7.2% -4.6% Operating Expense -41.8% -42.9% +1.1% Income Before Tax 46.4% 49.9% +3.5% Net Interest Income Net Fee Income Gains on investment Operating Expense FB Revenue/Expense Comparison(in NT$ mn ) ↓2.9% ↓0.4% ↑ 21.2% +2.2% 21,469 5,712 7,514 14,674 20,843 5,689 9,106 4,624 15,409 6,236 2,093 2,046 Provision Exp.1 Recovery 35,120 35,886 3Q18 3Q19 ↓25.9% ↑ 5.0% |
|---|---|---|---|---|---|
| Cumulative Net Revenue +2.2% 35,120 35,886 3Q18 3Q19 |
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| Item 3Q18 |
3Q19 | Change | |||
| NII 61.1% |
58.1% | -3.0% | |||
| Net Fee 16.3% |
15.9% | -0.4% | |||
| Gain on ST Invest. 0.8% |
1.4% | +0.6% | |||
| Gain on LT invest. 2.2% |
2.4% | -0.2% | |||
| Gain on fin. Products 18.4% |
21.6% | +3.2% | |||
| Others 1.2% |
0.6% | -0.6% | |||
| z Total Revenue 100.0% |
100.0% | ||||
| Provision Expense (net) -11.8% |
-7.2% | -4.6% | |||
| Operating Expense -41.8% |
-42.9% | +1.1% | |||
| FB Revenue/Expense Comparison(in NT$ mn ) | Income Before Tax 46.4% |
49.9% | +3.5% | ||
- Gross Provision expense.
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FB 3Q19 Loan Book Mix
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|||||||
|---|---|---|---|---|---|
|% of Loan Book|[1]|
|3Q19 Loan Book|[1]|(in NT$ bn or %)|
|Item|3Q18|3Q19|Change|
|Consumer|28.4%|29.2%|+0.8%|
|1,731.2|
|Mortgage|26.3%|26.9%|+0.6%|
|Corporate Banking|71.6%|70.8%|-0.8%|
|1,657.9|+4.4%|Large Corp. Loan|7.4%|8.3%|+0.9%|
|SME Loan|40.0%|39.3%|-0.7%|
|F/X/ Loan|23.7%|23.1%|-0.6%|
|---|Overseas|14.0%|14.1%|+0.1%|
|3Q18|3Q19|
|Loan Book|[1]|
|Loan Book|[1]|100%|100%|
|3Q19 Loan Book|[1]|Breakdown|(in NT$ bn )|
|↑|2.6%|
|680.6|
|663.3|
|↑|6.7%|F/X|↑|1.9%|
|465.3|
|436.0|
|392.3|399.6|
|↑|17.9%|
|Overseas|
|↑|5.2%|
|143.9|
|Overseas|Overseas|
|122.0|232.2|244.3|44.1|41.8|
|3Q18 3Q19|3Q18 3Q19|3Q18 3Q19|3Q18 3Q19|3Q18 3Q19|
|Mortgage|Large Corp. Loan|SME Loan|F/X Loan|Others|
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Loan Book does not include NALs
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SME as defined by the “Act for Development of Small & Medium Enterprises; both NTD & Foreign currency loan included
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Others included other consumer loan and Gov./SOE loan.
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FB Loan Breakdown
-QoQ Comparison
| ~~44.1~~ ~~38.8~~ ~~40.3~~ ~~37.8~~ ~~41.8~~ 392.3 397.0 405.6 400.8 399.6 132.2 143.2 141.6 144.9 143.9 663.3 672.3 669.7 674.7 680.6 436.0 445.7 452.4 459.3 465.3 3Q18 4Q18 1Q19 2Q19 3Q19 FB Loan Growth(in NT$ bn) 1,657.9 1,697.0 1,709.5 1,717.6 1,731.2 QoQ% ↑0.8% Mortgage ↑1.3% SME↑0.9% Large Corp. ↓0.7% F/X↓0.3% |
|
|---|---|
| SME Mortgage F/X loan Total loan Large Corp. Others |
~~44.1~~ ~~38.8~~ ~~40.3~~ ~~37.8~~ ~~41.8~~ 392.3 397.0 405.6 400.8 399.6 132.2 143.2 141.6 144.9 143.9 663.3 672.3 669.7 674.7 680.6 436.0 445.7 452.4 459.3 465.3 3Q18 4Q18 1Q19 2Q19 3Q19 1,657.9 1,697.0 1,709.5 1,717.6 1,731.2 QoQ% ↑0.8% Mortgage ↑1.3% SME↑0.9% Large Corp. ↓0.7% F/X↓0.3% |
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FB 3Q19 LDR, SPREAD &NIM
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Total Loan & LDR (in NT$ bn or % ) Total Loan [1] LDR
78.89% 79.28% 80.00% 76.62% 76.58% 78.71% 77.28% 78.12% 77.45% NTD 80.1%F/X 69.0%
1,568.0 1,589.8 1,612.1 1,637.2 1,663.5 1,703.2 1,715.6 1,722.7 1,736.1
3Q17 2017 1Q18 2Q18 3Q18 2018 1Q19 2Q19 3Q19
△
Loan-Deposit Spread / NIM ( in % ) Spread [2] NIM [2]
1.64% 1.65% 1.63% 1.63% 1.64% 1.64% 1.62% 1.61% 1.60%
1.26% 1.26%
1.22% 1.21%
1.20%
1.18%
1.08% 1.06% 1.07%
3Q17 2017 1Q18 2Q18 3Q18 2018 1Q19 2Q19 3Q19
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Total Loan = loan + import/export negotiation + NALs
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Annual cumulative Average Spread and NIM
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FB 3Q19 Loan Yields
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FB NTD Yields & Costs Overview ( in % ) Interest Spread (NTD)
Deposit Rate (NTD) Lending Rate (NTD)
1.44%
1.42%
1.40%
1.39% 1.39%
1.86% 1.84% 1.82% 1.82% 1.81%
0.42% 0.42% 0.42% 0.43% 0.42%
3Q18 4Q18 1Q19 2Q19 3Q19
FB FX Yields & Costs Overview ( in % ) Deposit Rate (FX) Lending Rate (FX)
2.46%
2.44% 2.44% Interest Spread (FX)
2.39%
2.26%
4.05% 4.01%
3.83% 3.92% 3.82%
1.37% 1.47% 1.61% 1.62% 1.56%
3Q18 4Q18 1Q19 2Q19 3Q19
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All rates are QUARTERLY* average rates.
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FB 3Q19 Deposit Mix
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FB Deposit Structure (in NT$ bn ) FB Deposit CASA Rate (in %)
NTD Deposit F/X deposit
NTD CASA rate
579.5
571.8
+1.3%
69.16%
68.30% 67.87% 67.41%
66.25%
△
3Q19 Total
Deposit
$2,241.4 bn
+3.2% YoY
+3.9%
1,600.0 1,661.9
2017 1H18 2018 1H19 3Q19
3Q18 3Q19
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Concentration Analysis
End of 3Q19 - % of Loan to Industries 4.31% 11.25% 4.20% 4.80% 10.39% 4.64% Manufacturing; 25.24% 3Q19 3.96% Petro. 9.83% Tech. Total Exposures* Machinery $1,842.6 bn 5.60% Metal Other manufacturing 6.24% Individual(Mortgage included) Real Estate Wholesale/Retail Transportation&Warehousing 34.78% Banking & Insurance Others
- Total exposures does not includes NALs and investment.
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FB 3Q19 Mortgage Book
| 3Q19 Mortgage by Location(in %) Location Loan% NPL Ratio TPE Metro 49% 0.26% Taoyuan/Hsinchu 18% 0.24% Taichung Area 11% 0.15% Tainan Area 10% 0.08% Kaohsiung Area 8% 0.16% Eastern Area 4% 0.08% Total 100.00% 0.21% |
|
|---|---|
| Location Loan% NPL Ratio TPE Metro 49% 0.26% Taoyuan/Hsinchu 18% 0.24% Taichung Area 11% 0.15% Tainan Area 10% 0.08% Kaohsiung Area 8% 0.16% Eastern Area 4% 0.08% |
|
| Total 100.00% 0.21% |
|
| ↑4.3% ↑17.2% SME2 317.0 SME2 305.0 Monthly New Mortgage Lending Monthly New Mortgage Lending(in NT$mn) 7,595 9,020 8,868 8,894 10,464 6,759 8,397 7,743 9,458 8,207 9,769 7,660 8,113 |
|
| 9M18 10M18 11M18 12M18 1M19 2M19 3M19 4M19 5M19 6M19 7M19 8M19 9M19 |
|
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FB 3Q19 Fee Income Breakdown
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3Q19 Cumulative Net Fee Income (in NT$ mn or %) % of Cumulative Net Fee
Item 3Q18 3Q19 Change
WM [1 ] 58.5% 57.0% -1.5%
5,689
Loan-related 15.4% 16.5% +1.1%
-0.4%
5,712 F/X 11.3% 10.8% -0.5%
Credit Card 4.9% 4.8% -0.1%
Other [2] 9.9% 10.9% +1.0%
3Q18 3Q19
Net Fee Income Cumulative Net Fee 100.0% 100.0%
3Q19 Cumulative Net Fee Breakdown ( in NT$ mn )
↓ 3.0%
3,341 3,240
↑ 6.7%
↓ 23.7%
878 937
643 614 567 623
↑3.0% 283 274
3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19 3Q18 3Q19
WM Fee [1] Loan-related F/X Credit Card Other [2]
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-
WM Fee = Custodian Fee + Trust-related Fee + Bancassurance Fee
-
Other represents network service fee, including overseas branches
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FB Fee Income Breakdown
-QoQ Comparison
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Fee Income (in NT$ mn)
2,092
1,999
1,851 1,851 1,814 1,876
↑ 6.6%
Quarterly
fee income
218
228
Others 177 94 175 186
209 86
217
Credit Card 96 106 98 196
90
F/X Related 217 228 218
321 200
296
Loan Related 305 96 337 325 317 100
Custodian 97 90
89 96
695 562 ↑ 18.1%
Bacassurance 493 476
567 514
Wealth
MGT.
Mutual Fund 466 451 349 380 490 532 ↑ 8.6%
2Q18 3Q18 4Q18 1Q19 2Q19 3Q19
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- Wealth Management Fee = Fund sales + Bancassurance + Custodian
*Other represents network service fee, including overseas branches
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FB 3Q19 Cost-to-Income Ratio
| 14,674 15,409 3Q18 3Q19 Operating Expense Cumulative Operating Expense (in NT$ mn ) +5.0% |
Cost-to-Income Ratio Analysis( in NT$ mn) | Cost-to-Income Ratio Analysis( in NT$ mn) | Cost-to-Income Ratio Analysis( in NT$ mn) | |
|---|---|---|---|---|
| 3Q19 | ||||
| Item 3Q18 3Q19 |
||||
| Net Revenue 35,120 35,886 |
||||
| Operating Expense (14,674) |
(15,409) | |||
| Provision(Net) (4,143) |
(2,578) | |||
| Income Tax (2,140) |
(2,856) | |||
| Net Income 14,163 15,043 |
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Quarterly Operating Expense & Cumulated Cost-to-Income Ratio ( in NT$ mn or % )
Net Revenue Operating Expense Cumulated Cost-to-Income Ratio
43.15% 43.05% 42.94%
42.13% 41.78% 41.41%
11,724 12,347 12,004 11,654 12,228
10,928
4,944 5,080 5,189 4,971 5,213 5,225
2Q18 3Q18 2018 1Q19 2Q19 3Q19
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FB 3Q19 Asset Quality
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NPL Amount, Reserve, Coverage (in NT$ mn or % )
Coverage Ratio LLR ratio (loan loss reserve/total loan, excluding gov.loan)
497.39%
417.74% 450.10%
389.64%
321.54% 342.89%
297.73%
1.25% 1.28% 1.27% 1.27%
1.20% 1.21%
1.19%
NPL Ratio NPL NPL Reserve
0.40%
0.37%
0.35%
0.32% 0.31%
0.28%
0.26%
19,030 19,626 20,030 21,229 21,892 21,849 22,094
6,392 6,104 5,841 5,449 5,241 4,854 4,442
3M18 6M18 9M18 2018 3M19 6M19 9M19
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- NTD 2,141 mn was recategorized from “allowance for loan losses” to “reserve for loan commitments” and other provision referring to IFRS9 since 2018.
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FB NPL Migration by Sectors
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1
Individual & Mortgage NPL Ratios (in %) Large Corp. & SME NPL Ratios (in %)
Individual
Large Corp.
Mortgage
SME
0.22% 0.23% 0.57% 0.52% 0.50% 0.50%
0.18% 0.17% 0.18% 0.36%
0.21%
0.22%
0.16% 0.17% 0.17%
0.36% 0.34% 0.35%
0.19%
0.19%
3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19
Domestic NPL Ratio (in %) Overseas NPL Ratio (in %)
Domestic Overseas
0.38%
0.34% 0.33% 0.32%
0.28%
0.22% 0.23% 0.20%
0.14% 0.16%
3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19
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-
Individual: mortgage and non-mortgage loan included
-
bad-debt recovery not included.
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FB New NPL Influx Breakdown
| 876 1,770 1,468 1,482 2,544 3,238 1,205 2,822 4Q17 1Q18 2Q18 3Q18 Quarterly New NPL Influx & Write-offs ( in NT$ mn) Breakdown of New NPL Influx (in NT$ mn） Quarterly NPL Influx 4Q18 1Q19 2Q19 3Q19 --- Domestic 548 1,010 514 615 --- Overseas 41 149 336 136 Total NPL Influx 589 1,159 850 751 |
981 1,367 1,237 1,163 1,159 751 850 589 4Q18 1Q19 2Q19 3Q19 Write-off New NPL Influx Quarterly Recovery Mix (in NT$ mn) Quarterly Recovery 4Q18 1Q19 2Q19 3Q19 --- Domestic 897 492 726 673 --- Overseas 15 5 9 104 --- Credit Card 13 12 12 13 Total Recovery 925 509 747 790 |
||
|---|---|---|---|
| Breakdown of New NPL Influx (in NT$ mn） Quarterly NPL Influx 4Q18 1Q19 2Q19 3Q19 --- Domestic 548 1,010 514 615 --- Overseas 41 149 336 136 Total NPL Influx 589 1,159 850 751 |
Quarterly Recovery Mix (in NT$ mn) Quarterly Recovery 4Q18 1Q19 2Q19 3Q19 --- Domestic 897 492 726 673 --- Overseas 15 5 9 104 --- Credit Card 13 12 12 13 Total Recovery 925 509 747 790 |
||
| Quarterly Recovery 4Q18 1Q19 2Q19 3Q19 |
|||
| --- Domestic 897 492 726 673 |
|||
| --- Overseas 15 5 9 104 |
|||
| --- Credit Card 13 12 12 13 |
|||
| Total Recovery 925 509 747 790 |
|||
| 876 1,770 1,468 1,482 2,544 3,238 1,205 2,822 4Q17 1Q18 2Q18 3Q18 Quarterly New NPL Influx & Write-offs ( in NT$ mn) |
981 1,367 1,237 1,163 1,159 751 850 589 4Q18 1Q19 2Q19 3Q19 Write-off New NPL Influx |
||
| 4Q17 1Q18 2Q18 3Q18 |
|||
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FB 3Q19 Overseas Profits
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3Q19 FB Overseas Pre-Tax Profit Mix ( in NT$ mn or %) 3Q19 FB Total Pre-Tax Profit Mix ( in NT$ mn or %)
8.75% Total Pre-Tax
38.78%
Profit
15.08% $17,899 mn
OBU Taiwan Domestic Market;
55.58%
3Q19 HK
Overseas China
$7,950 mn
13.54% North America
Asean
9.23% Others
14.62% Other Overseas ; Greater China (including OBU) ;
16.60% 27.82%
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Quarterly Overseas & Total PTP (in NT$ mn or %)
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Overseas Total Cumulative Overseas PTP to FB Total PTP
40.37% 43.83% 44.34% 48.32% 44.89% 44.42%
31.57%
5,720
5,460 5,650 6,232
5,106 6,017
4,419
1,612 2,654 2,894 2,043 2,730 2,509 2,711
1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19
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CAR & Core Capital
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FFHC Group CAR(in %)
139.14% CAR
131.31% 131.70%
121.35% 120.82% 121.03%
115.66%
statutory CAR 100%
FB CAR & Core Capital(in %)
CAR
13.27% 12.82% 13.42% 13.21% 13.57% 13.22% 13.23%
Tier 1
10.95% 10.64% 11.25% 11.08% 11.58% 11.22% 11.31%
2H16 1H17 2H17 1H18 2H18 1H19 3Q19
2H16 1H17 2H17 1H18 2H18 1H19 3Q19
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-
•Preliminary data for 3Q19.
-
•Leverage ceiling for holding companies in Taiwan: Double Leverage < 125% ; Debt Ratio < 30%
29
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Shareholder Return
| 2016 2017 2018 1.20 0.90 1.00 0.20 0.10 0.10 1.40 1.00 1.10 82.8% 72.0% 71.4% 1.40 1.00 1.10 1.25 1.42 1.401 2016 2017 2018 |
||||
|---|---|---|---|---|
| FFHC Earnings Per | 1.35 1.40 1.43 1.48 Share ( in NT$ dollar ) |
1.40 1.00 1.10 1.25 1.42 1.401 2016 2017 2018 |
||
| EPS Dividend |
||||
| 2014 2015 |
||||
| 2014 2015 |
2016 2017 2018 |
|||
| Cash dividend 0.70 0.95 |
1.20 0.90 1.00 |
|||
| Stock dividend 0.65 0.45 |
0.20 0.10 0.10 |
|||
| Total dividend 1.35 1.40 |
1.40 1.00 1.10 |
|||
| CASH Payout ratio 49.0% 64.2% |
82.8% 72.0% 71.4% |
- EPS is adjusted retroactively for stock dividends
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Appendix
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FFHC Consolidated Statement of Comprehensive Income
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FFHC Consolidated Statement of Comprehensive Income (in NT$ million or %)
| 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%) | ||
|---|---|---|---|---|---|---|
| Year-over-Year Comparison Full Year Results |
||||||
| ~~2016~~ ~~2017~~ ~~2018~~ Net interest income 28,801 29,993 30,268 Net service fee & commission 8,723 8,341 8,526 Net Insurance revenue 1,351 5,130 11,733 Gain on financial assets meas. 2,569 5,550 4,880 at fair value through P/L Real estate investment gain 163 93 117 Gain on AFS financial assets 951 1,052 0 |
~~3Q18~~ | ~~3Q19~~ | ~~Change~~ | |||
| 22,653 6,473 9,222 4,010 80 0 |
22,155 6,294 8,661 6,423 96 0 |
-2.2% -2.8% -6.1% 60.2% 20.0% #DIV/0! |
||||
| Gain on financial assets at fair value | #DIV/0! | |||||
| through other compre. income 0 0 1,566 |
1,555 | 1,492 | -4.1% | |||
| Income from equity invest. (75) 138 110 |
94 | 98 | 4.3% | |||
| Excluding gainon fin.assetsmeasuredat amort.c 0 0 22 |
0 | 0 | #DIV/0! | |||
| Reserve of overlay approach | 0 0 0 |
0 | 6 | #DIV/0! | ||
| Net gain on F/X Assets impairment loss Others Net Revenue Net Provision for credit losses Recovered(provided) for insurance res. Operating Expense Income from continued op. before tax Income tax expenses Consolidatednetincome |
935 (170) 2,499 1,973 (39) (46) (90) (54) 1,712 746 618 585 45,091 50,827 60,249 46,591 (2,244) (6,772) (5,486) (4,178) (871) (4,560) (11,153) (8,778) (21,779) (21,347) (22,906) (16,973) 20,197 18,148 20,703 16,662 (2,913) (2,716) (3,370) (2,321) 17,284 15,432 17,332 14,341 (2,354) (1,038) 417 1,605 14,930 14,394 17,749 15,945 17,356 15,483 17,332 14,341 (72) (51) 0 0 15,023 14,380 17,749 15,945 (93) 14 0 0 1.42 1.25 1.40 1.15 |
1,973 (54) 585 46,591 (4,178) (8,778) (16,973) 16,662 (2,321) 14,341 |
1,554 (4) 299 47,075 (2,643) (8,293) (17,666) 18,473 (3,096) 15,377 |
-21.2% -92.6% -48.9% 1.0% -36.7% -5.5% 4.1% 10.9% 33.4% 7.2% |
||
| Other Items Comprehensive Income |
1,605 15,945 |
7,372 22,749 |
359.3% 42.7% |
|||
| Net Income attributed to: Parent Minorityinterests |
14,341 0 |
15,377 0 |
7.2% - |
|||
| Comprehensive Income attributed to: Parent Minorityinterests |
15,945 0 |
22,749 0 |
42.7% - |
|||
| EPS1(NT$) | ||||||
| 1.15 | 1.23 | 7.0% |
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FFHC Non-consolidated Income Statement
FFHC Standalone Income Statement Summary in NT$ million, NT$, or %
| in NT$ million, NT$, or % | ||||||
|---|---|---|---|---|---|---|
| Full | Year Results | Year-over-Year Comparison | ||||
| 2016 | 2017 | 2018 | 3Q18 | **3Q19 ** | Change | |
| Operating revenues | ||||||
| Income from long-term investment | 17,857 | 15,693 | 17,904 | 14,558 | 15,697 | 7.8% |
| Other income1 | 242 | 246 | 227 | 220 | 187 | -15.0% |
| Total revenues | 18,099 | 15,939 | 18,131 | 14,778 | 15,884 | 7.5% |
| Loss from long-term investment | (304) | (53) | (321) | (92) | 0 | -100.0% |
| Operating expenses | (338) | (334) | (356) | (274) | (295) | 7.7% |
| Other expenses and losses | (145) | (118) | (110) | (59) | (147) | 149.2% |
| Income from continued op. before tax | 17,312 | 15,434 | 17,344 | 14,352 | 15,442 | 7.6% |
| Income from continued op. after tax | 17,356 | 15,483 | 17,332 | 14,341 | 15,377 | 7.2% |
| Income from discontinued op., net of tax | 0 | 0 | 0 | 0 | 0 | -- |
| Net income | 17,356 | 15,483 | 17,332 | 14,341 | 15,377 | 7.2% |
| EPS2(NT$) | 1.42 | 1.25 | 1.40 | 1.15 | 1.23 | 7.0% |
-
Including income other than long-term investment
-
EPS is adjusted retroactively for stock dividends
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FFHC Balance Sheet
| FFHC Balance Sheet Summary in NT$ million or million shares |
||
| 2016 2017 2018 Non-consolidated Balance Sheet Data Long-term investment 203,834 205,970 217,409 Total non-consolidated assets 205,165 208,951 224,661 Total liabilities 13,390 17,168 19,358 Total shareholders' equity 191,775 191,783 205,303 Conolidated Balance Sheet Data Total consolidated assets 2,541,156 2,634,059 2,935,204 Total liabilities 2,349,127 2,442,008 2,729,901 Total shareholders' equity 192,029 192,051 205,303 Parent's shareholders' equity 191,775 191,783 205,303 Minority interests 254 268 0 Current shares outstanding 119,769 122,164 123,386 *figures may not match due to rounding Full Years Result** |
3Q18 3Q19 Change 215,511 228,216 5.9% 223,727 236,505 5.7% 20,228 20,792 2.8% 203,499 215,713 6.0% 2,882,678 3,016,430 4.6% 2,679,179 2,800,717 4.5% 203,499 215,713 6.0% 203,499 215,713 6.0% 0 0 #DIV/0! 123,386 124,619 1.0% Year-over-Year Comparison |
34
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FFHC Key Ratios
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FFHC Key Ratios
| FFHC Key Ratios | ||||
|---|---|---|---|---|
| Full Year Results 2016 2017 2018 3Q18 3Q19 Change 0.69% 0.60% 0.62% 0.69% 0.69% 0.0% 9.10% 8.04% 8.58% 9.51% 9.73% 2.3% 16.01 15.70 16.64 16.49 17.31 5.0% 119,769 122,164 123,386 123,386 124,619 1.0% 106.29% 107.40% 105.90% 105.90% 105.80% -0.1% 139.14% 131.31% 131.70% 126.80% 121.03% -4.6% 6.53% 8.24% 8.62% 9.04% 8.79% -2.8% Year-over-Year Comparison |
||||
| 3Q18 | **3Q19 ** | Change | ||
| After-tax ROAA (Annualized ratio) After-tax ROAE (Annualized ratio) Book Per Share Capital Stock Double leverage1 Group CAR2 Debt Ratio3 |
0.69% 9.51% 16.49 123,386 105.90% 126.80% 9.04% |
0.69% 9.73% 17.31 124,619 105.80% 121.03% 8.79% |
0.0% 2.3% 5.0% 1.0% -0.1% -4.6% -2.8% |
-
Double leverage ratio = Long-term investment / Equity
-
Updated semi-annually.
-
Unconsolidated basis
35
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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 % 2016 2017 2018 3Q18 3Q19 Change Net interest income 27,797 28,843 28,669 21,469 20,843 -2.9% Net fee income 8,035 7,457 7,563 5,712 5,689 -0.4% Net gain on ST invest. 274 398 98 256 503 96.5% Net gain on LT invest. 433 719 834 787 856 8.8% Net gain on other fin. products 4,344 5,256 8,396 6,467 7,746 19.8% Other net income 654 241 431 429 249 -42.0% Net revenue 41,537 42,914 45,991 35,120 35,886 2.2% Operating expenses (18,963) (18,466) (19,863) (14,674) (15,409) 5.0% Pre-provisiion pre-tax profit 22,574 24,448 26,128 20,446 20,477 0.2% Provision expense (4,396) (9,621) (8,480) (6,236) (4,624) -25.8% Adjustment: bad-debt recovery 2,346 2,782 3,017 2,093 2,046 -2.2% Income before tax 20,524 17,609 20,665 16,303 17,899 9.8% Income tax (2,825) (2,467) (3,134) (2,140) (2,856) 33.5% Net income 17,699 15,142 17,531 14,163 15,043 6.2% Other items (2,100) (1,214) 513 1,601 6,579 310.9% Comprehensive income 15,599 13,928 18,044 15,764 21,622 37.2% EPS 1.99 1.70 1.97 1.59 1.69 0.06 Full Year Results Year-over-Year Comparison |
|||
36
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FB Key Ratios
FB Key Ratios
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----- Start of picture text -----
Full Year Results Year-over-Year Comparison
2016 2017 2018 3Q18 3Q19 Change
Loan to deposit spread 1.65% 1.65% 1.64% 1.64% 1.60% -2.44%
Net Interest Margin 1.26% 1.26% 1.18% 1.20% 1.07% -10.83%
Cost to income ratio3 45.65% 43.03% 43.19% 41.85% 42.94% 2.60%
Loan to deposit ratio1 79.04% 79.28% 78.71% 76.58% 77.45% 1.14%
NPL ratio 0.20% 0.38% 0.32% 0.35% 0.26% -25.71%
LLR ratio (excluding gov. loan) 1.22% 1.38% 1.25% 1.21% 1.27% #REF!
Coverage ratio 625.14% 358.56% 389.64% 342.89% 497.39% 41006.61%
CAR 13.27% 13.42% 13.57% 13.69% 13.23% -96.14%
Tier-1 10.95% 11.25% 11.58% 11.67% 11.31% -17.38%
ROAA2 0.72% 0.60% 0.65% 0.71% 0.69% -94.09%
ROAE2 9.46% 7.91% 8.71% 9.40% 9.55% 1245.07%
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-
Loan to depoist ratio = total loan / total deposit
-
Annualized figures.
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FB Loan Quality
~~FB NPL Migration~~ in NT$ million or %
in |
g NT$ million or % 2017 2018 Q1 Q2 Q3 3Q18 3Q19 Change PL- beginning 3,035 6,114 5,449 5,241 4,854 6,114 5,449 -10.9% Net new NPL influx 7,225 6,098 1,159 850 751 5,509 2,760 -49.9% Domestic 6,744 5,394 1,010 514 615 4,846 2,139 -55.9% Overseas 481 704 149 336 136 663 621 -6.3% Net write-offs (4,146) (6,763) (1,367) (1,237) (1,163) (5,782) (3,767) -34.8% PL- ending balance 6,114 5,449 5,241 4,854 4,442 5,841 4,442 -24.0% lowance for loan loss- beginning 18,973 19,781 21,229 21,892 21,849 19,781 21,229 7.3% Provisions for loan loss 7,429 7,919 1,859 1,151 1,441 5,744 4,451 -22.5% Net write-offs (4,146) (6,763) (1,367) (1,237) (1,163) (5,782) (3,767) -34.8% Others (334) 292 171 43 (33) 287 181 -36.9% lowance for loan loss- ending 21,922 21,229 21,892 21,849 22,094 20,030 22,094 10.3% ecovery from bad debt 2,782 3,017 509 747 790 2,092 2,046 -2.2% Domestic 2,533 2,895 492 726 673 1,998 1,891 -5.4% Overseas 197 73 5 9 104 58 118 103.4% Credit card 52 49 12 12 13 36 37 2.8% Non-consolidated basis NTD 2,141 mn was recategorized from “allowance for loan losses” to “reserve for loan commitments” and other provision referring to IFRS9 since 2018 Year-over-Year Comparison 2019 Quarterly Full Year Results |
g NT$ million or % 2017 2018 Q1 Q2 Q3 3Q18 3Q19 Change PL- beginning 3,035 6,114 5,449 5,241 4,854 6,114 5,449 -10.9% Net new NPL influx 7,225 6,098 1,159 850 751 5,509 2,760 -49.9% Domestic 6,744 5,394 1,010 514 615 4,846 2,139 -55.9% Overseas 481 704 149 336 136 663 621 -6.3% Net write-offs (4,146) (6,763) (1,367) (1,237) (1,163) (5,782) (3,767) -34.8% PL- ending balance 6,114 5,449 5,241 4,854 4,442 5,841 4,442 -24.0% lowance for loan loss- beginning 18,973 19,781 21,229 21,892 21,849 19,781 21,229 7.3% Provisions for loan loss 7,429 7,919 1,859 1,151 1,441 5,744 4,451 -22.5% Net write-offs (4,146) (6,763) (1,367) (1,237) (1,163) (5,782) (3,767) -34.8% Others (334) 292 171 43 (33) 287 181 -36.9% lowance for loan loss- ending 21,922 21,229 21,892 21,849 22,094 20,030 22,094 10.3% ecovery from bad debt 2,782 3,017 509 747 790 2,092 2,046 -2.2% Domestic 2,533 2,895 492 726 673 1,998 1,891 -5.4% Overseas 197 73 5 9 104 58 118 103.4% Credit card 52 49 12 12 13 36 37 2.8% Non-consolidated basis NTD 2,141 mn was recategorized from “allowance for loan losses” to “reserve for loan commitments” and other provision referring to IFRS9 since 2018 Year-over-Year Comparison 2019 Quarterly Full Year Results |
g NT$ million or % 2017 2018 Q1 Q2 Q3 3Q18 3Q19 Change PL- beginning 3,035 6,114 5,449 5,241 4,854 6,114 5,449 -10.9% Net new NPL influx 7,225 6,098 1,159 850 751 5,509 2,760 -49.9% Domestic 6,744 5,394 1,010 514 615 4,846 2,139 -55.9% Overseas 481 704 149 336 136 663 621 -6.3% Net write-offs (4,146) (6,763) (1,367) (1,237) (1,163) (5,782) (3,767) -34.8% PL- ending balance 6,114 5,449 5,241 4,854 4,442 5,841 4,442 -24.0% lowance for loan loss- beginning 18,973 19,781 21,229 21,892 21,849 19,781 21,229 7.3% Provisions for loan loss 7,429 7,919 1,859 1,151 1,441 5,744 4,451 -22.5% Net write-offs (4,146) (6,763) (1,367) (1,237) (1,163) (5,782) (3,767) -34.8% Others (334) 292 171 43 (33) 287 181 -36.9% lowance for loan loss- ending 21,922 21,229 21,892 21,849 22,094 20,030 22,094 10.3% ecovery from bad debt 2,782 3,017 509 747 790 2,092 2,046 -2.2% Domestic 2,533 2,895 492 726 673 1,998 1,891 -5.4% Overseas 197 73 5 9 104 58 118 103.4% Credit card 52 49 12 12 13 36 37 2.8% Non-consolidated basis NTD 2,141 mn was recategorized from “allowance for loan losses” to “reserve for loan commitments” and other provision referring to IFRS9 since 2018 Year-over-Year Comparison 2019 Quarterly Full Year Results |
g NT$ million or % 2017 2018 Q1 Q2 Q3 3Q18 3Q19 Change PL- beginning 3,035 6,114 5,449 5,241 4,854 6,114 5,449 -10.9% Net new NPL influx 7,225 6,098 1,159 850 751 5,509 2,760 -49.9% Domestic 6,744 5,394 1,010 514 615 4,846 2,139 -55.9% Overseas 481 704 149 336 136 663 621 -6.3% Net write-offs (4,146) (6,763) (1,367) (1,237) (1,163) (5,782) (3,767) -34.8% PL- ending balance 6,114 5,449 5,241 4,854 4,442 5,841 4,442 -24.0% lowance for loan loss- beginning 18,973 19,781 21,229 21,892 21,849 19,781 21,229 7.3% Provisions for loan loss 7,429 7,919 1,859 1,151 1,441 5,744 4,451 -22.5% Net write-offs (4,146) (6,763) (1,367) (1,237) (1,163) (5,782) (3,767) -34.8% Others (334) 292 171 43 (33) 287 181 -36.9% lowance for loan loss- ending 21,922 21,229 21,892 21,849 22,094 20,030 22,094 10.3% ecovery from bad debt 2,782 3,017 509 747 790 2,092 2,046 -2.2% Domestic 2,533 2,895 492 726 673 1,998 1,891 -5.4% Overseas 197 73 5 9 104 58 118 103.4% Credit card 52 49 12 12 13 36 37 2.8% Non-consolidated basis NTD 2,141 mn was recategorized from “allowance for loan losses” to “reserve for loan commitments” and other provision referring to IFRS9 since 2018 Year-over-Year Comparison 2019 Quarterly Full Year Results |
|
|---|---|---|---|---|---|
| N N Al Al R |
2017 2018 Q1 Q2 Q3 3Q18 3Q19 Change 3,035 6,114 5,449 5,241 4,854 6,114 5,449 -10.9% 7,225 6,098 1,159 850 751 5,509 2,760 -49.9% 6,744 5,394 1,010 514 615 4,846 2,139 -55.9% 481 704 149 336 136 663 621 -6.3% (4,146) (6,763) (1,367) (1,237) (1,163) (5,782) (3,767) -34.8% 6,114 5,449 5,241 4,854 4,442 5,841 4,442 -24.0% 18,973 19,781 21,229 21,892 21,849 19,781 21,229 7.3% 7,429 7,919 1,859 1,151 1,441 5,744 4,451 -22.5% (4,146) (6,763) (1,367) (1,237) (1,163) (5,782) (3,767) -34.8% (334) 292 171 43 (33) 287 181 -36.9% 21,922 21,229 21,892 21,849 22,094 20,030 22,094 10.3% 2,782 3,017 509 747 790 2,092 2,046 -2.2% 2,533 2,895 492 726 673 1,998 1,891 -5.4% 197 73 5 9 104 58 118 103.4% 52 49 12 12 13 36 37 2.8% Year-over-Year Comparison 2019 Quarterly Full Year Results |
||||
| 3Q19 | Change | ||||
| PL- beginning Net new NPL influx Domestic Overseas Net write-offs PL- ending balance lowance for loan loss- beginning Provisions for loan loss Net write-offs Others lowance for loan loss- ending ecovery from bad debt Domestic Overseas Credit card |
5,449 2,760 2,139 621 (3,767) 4,442 21,229 4,451 (3,767) 181 22,094 2,046 1,891 118 37 |
-10.9% -49.9% -55.9% -6.3% -34.8% -24.0% 7.3% -22.5% -34.8% -36.9% 10.3% -2.2% -5.4% 103.4% 2.8% |
|||
| 1. * |
1. Non-consolidated basis
- NTD 2,141 mn was recategorized from “allowance for loan losses” to “reserve for loan commitments” and other provision referring to IFRS9 since 2018
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First Sec. Operating Report
First Sec Income Statement Summary in NT$ million or %
| in NT$ million or % | |||
|---|---|---|---|
| 2016 2017 2018 3Q18 3Q19 Change Full Year Results Year-over-Year Comparison |
|||
| 3Q19 | Change | ||
| Brokerage commission Net interest income Underwriting commission Transaction gains through F/V, net Other operating income Total operating income Total operating expenses Non-operating income Income before tax Income tax |
645 849 899 706 292 306 293 237 23 38 97 78 (12) 227 29 90 93 107 34 53 1,041 1,527 1,352 1,164 (1,288) (1,301) (1,260) (960) 42 72 77 56 (205) 298 169 260 (24) (26) (55) (46) |
556 162 25 168 86 997 (861) 68 204 (31) |
|
| Cummulative effect of change in accounting principles |
0 0 0 0 |
0 | |
| Net income | (229) 272 114 214 |
173 | |
| First Sec Key Ratios | |||
| ROAE (Annualized) ROAA (Annualized) Brokerage market share Margin loan market share |
-3.65% 4.41% 1.82% 4.48% -1.30% 1.55% 0.61% 1.37% 1.45% 1.53% 1.42% 1.43% 2.99% 2.94% 2.53% 2.56% |
3.67% 1.18% 1.41% 2.31% |
|
39
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FSITC Operating Report
FSITC Income Statement Summary in NT$ million or %
| 3Q19 | Change | |
|---|---|---|
| 463 21 484 (419) 18 83 (15) 68 0 |
-5.9% 250.0% -2.8% 3.2% 80.0% -18.6% -25.0% -18.1% #DIV/0! |
|
| Net income 64 70 101 83 |
68 | -18.1% |
| y FSITC Key Ratios |
||
| AUM 94,461 101,095 85,558 95,213 AUM Ranking 8 8 9 8 |
107,486 | 12.9% |
| 9 | ||
| 1. Non-consolidated basis |
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First Life Operating Report
| First Life Financial Results Summary |
||||||
| ~~in NT$ million or %~~ | ||||||
| 3Q19 | ||||||
| 14,903 12,199 204 2,500 14,159 43 8,202 5,146 626 141 (466) (102) (364) 0 |
||||||
| Profit/Loss of Operation (150) (129) (154) (93) Non-Operating Profit 0 0 0 0 |
||||||
| 0 | ||||||
| Profit/Loss Before Tax (150) (129) (154) (93) Income tax 3 26 13 3 Net Income after tax (147) (103) (141) (91) Key Ratios ROAE(Annualized ratio) -23.91% -19.39% -12.94% -10.54% ROAA(Annualized ratio) -0.45% -0.30% -0.34% -0.29% |
278 (11) 267 17.54% 0.70% |
|||||
| * FFHC claims 51% of First-Aviva operating results in 2015,2016, and 2017. |
- FFHC claims 51% of First-Aviva operating results in 2015,2016, and 2017.
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Q&A
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