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First Financial Holding Co. Ltd. Investor Presentation 2013

Nov 15, 2013

52222_rns_2013-11-15_c10a3ee7-5644-4aa8-b46b-3255123dc5b3.pdf

Investor Presentation

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Investor Presentation FFHC 1H 2013 Earnings Result

November 19-20, 2013 Hong Kong

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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

  • Overseas Theme

  • Appendix

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Overview

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Overview of First Financial Holding

  • Founded in 1899, First Commercial Bank (“FCB”) has 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 .

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

  • Deposit mkt share 5.5% 2013/6/30

  • Loan mkt share 6.1%

  • FFHC asset size Top 8

  • SME Top 1

  • Mortgage Top 6

  • Trade Finance Top 3

  • Mutual fund sales Top 4

  • Custodian mkt shares Top 2

  • Bank branches 189 domestic /25 overseas

Financial Summary

1H2013 Financial Summary

in NT$ mn
Net Income 6,144
Net Income 29
Net Income 53
Net Income 59
$mn, except per
share amounts		 2010 2011 2012 1H2013
Total Revenues 32,956 32,559 36,659 17,200
Net Income 6,962 7,471 10,118 6,361
EPS 0.96 1.01 1.25 0.73
ROAE
(annualized)*		 6.67% 6.38% 7.73% 9.48%*

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First Commercial Bank
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First Securities
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First Sec. Investment Trust
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First-Aviva Life Insurance
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FFHC Ownership Profile
Government (Direct 21.07%; Indirect: 7.54%) 28.61% Other Investors: 48.10%
Foreign Institution: 19.49%
5
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FFHC Customer Reach – Overseas

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Vancouver
Henan Tokyo Toronto
Suzhou
Chengdu
Shanghai
Hong Kong FCB(USA)
New York
Hanoi Taiwan
Los Angeles
Macau
Yangon
Bangkok Ho Chi Guam
Minh City
Phnom Penh
Singapore
London Brisbane
This wide distribution network has allowed First
Commercial to capture significant market share in
lending, deposit and other banking services.
6
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Competitive Strength Highlights

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No.2 Bank Leading Bank, Leasing
Greater China & Rural Banks
Branches Distribution
Platform
Player
Platform, Strong
Top 4
Customer Base
Mutual
Fund Seller
No.1 SME
Corporate Focus - Lender
Low Cost Extensive Deposit
SME MKT Niche
Franchise Network
of Funding
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Peers Comparison

Deposit- Rank Taiwan #6

In NT billion/ market share Data as of 2013/6/30 SME Loan – Rank Taiwan # 1

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11.47%
3,396
7.64%
2,263 6.53%
1,935 1,760 5.94% 1,664 5.62% 1,630 5.50% 11.44% 10.50%
525 481 8.18% 8.14%
375 373
Bank of Taiw an Cooperative Bank Land Bank Mega Hua Nan First Bank First Bank Cooperative Bank Taiwan Business Bank Hua Nan
9.32%
Loan- Rank Taiwan # 5 Mutual Fund Sales – Rank Taiwan # 4
2,196 7.70% 7.60%
1,814 1,790 6.55%
6.11%
1,543 5.76%
1,439
1,358
116
77
66
51
Bank of Taiwan Land Bank Cooperative Bank Mega First Bank Hua Nan
Chinatrust Fubon Hua Nan First Bank
Source: Financial Supervision Commission, Banking Bureau
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At a Glance

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2Q 2013 Performance Review

  • Core Lending Remained Intact Evidenced by Firmed Margin: Loan book ↑ 3%, NIM Stabilized at 1.26% on portfolio adjustment to focus on F/X & SME.

  • Credit Cost contained Given Strong Recovery and on Par GP: Better-than-expected write-backs help weather additional provisioning against souring loans.

  • RMB Initiatives in the Pipeline:

  • A pilot deal of RMB syndication loan at Taiwan.

  • Escort Account Service launched for Cross-Strait Trade Finance.

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1H 2013 Financial Highlight

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1H 2013 Key Figures
1H2013 Net Income Breakdown1 ( inNT$ mn) Key Figures( in NT$ dollar, NT$ mn, mn shares or %)
Investment Trust
NT$53; 0.8%
AMC
NT$113;1.8%		 Others
NT$(37);-0.6%
Insurance
NT$59; 0.9%		 Consolidated Net Income
Comprehensive Income2		 1H13
6,3611
6,7532
1H12
6,6801
6,384		 YoY %
-4.8%
5.8%
Total Assets 2,170,366
2,100,973		 3.3%
EPS 0.73
0.78		 -6.4%
Securities
NT$29; 0.5%		 Banking
NT$6,144; 96.6%		 Book per share
Capital Stock
ROAE
3
ROAA
3
Group CAR4
Double Leverage5		 16.65
81,254
9.48%
0.60%
119.40%
103.93%
17.10
76,654
10.46%
0.64%
117.05%
104.07%		 -2.6%
6.0%
-9.4%
-6.3%
2.0%
-0.1%

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Net Income & Comprehensive Income

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1H 2013 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (339)
Insurance 324
17,200 (15) (9,387)
(1,436)
6,753
6,361
393
Net Revenue Provision Operating Income Tax Net Income Other Items Comprehensive
Expense Income
1H 2012 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (486)
Insurance 316
17,430 (170) (9,281)
(1,299) 6,680 6,384
(297)
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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1H 2013 FFHC Net Income Breakdown (in NT$ mn)
↓ 4.8%
↓ 6.2%
6,361
6,144
↑ 48.7%
113
FFHC 30
Aviva 29
29 53
59
First Bank First Securities FSITC First-Aviva First AMC FFHC
1H 2012 FFHC Net Income Breakdown (in NT$ mn)
6,680
6,551
FFHC (38)
Aviva (36)
33 51 (74) 76
First Bank First Securities FSITC First-Aviva First AMC FFHC
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1H 2013 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
10.46%
9.80% 9.19% 8.80% 9.48%
8.26%
7.44% 7.73% 7.73%
6.67% 6.38%
9,016 10,118
6,962 6,810 7,471 6,680 6,361
4,428
2,000 3,131 2,970
2010 3M 11 6M 11 9M 11 2011 3M 12 6M 12 9M 12 2012 3M 13 6M 13
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First Bank Net Income & ROAE (in NT$ mn & %)

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Cumulative Net Income Annualized ROAE
11.14%
8.52% 9.52% 9.53% 8.12% 10.16% 9.81% 8.58% 9.44% 9.84%
6.82%
10,375
8,625 8,880
7,609
6,339 6,551 6,144
4,609
2,972 2,962
2,059
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FB 1H 2013 Pre-tax Profit
1H13 Cumulative Net Revenue(in NT$ mn or %) % of FB Income before Tax(in %)
Item 1H12 1H13 Change
NII 73.3% 77.3% +4.0%
Net Fee 15.2% 15.9% +0.7%
15,773 Gain on ST Invest. 0.6% -0.3% -0.9%
Gain on LT invest. 1.7% 1.0% -0.7%
-2.8% Gain on fin. Products 6.6% 5.4% -1.2%
16,235 Others 2.6% 1.3% -1.3%
Total Revenue1 100.0% 100.0%
z
Provision Expense2		 -13.7% -14.2% +0.5%
1H12 1H13 Adjustment :Recovery +11.0% +12.5% +1.5%
Cumulative Net Revenue* Operating Expense -49.5% -51.3% +1.8%
FB Revenue/Expense Comparison( NT$mn ) Income Before Tax 47.8% 47.0% -0.8%
↑2.5%
11,903 12,196 ↑0.7%
↑1.8% ↑0.4%
↓31.7%		 ↑10.7% 8,036 8,091
1H12
Net Intere		 1H13
st Inco		 1H12
↓32.8%
me
2,467
Net F		 1H13
2,511
ee Incom		 1H12
1,432
e
Gains
invest		 1H13
1H121H13
2,229
978
2,239
on
ment
Provision Exp.2		 1H121H13
1,779
1,970
Recovery		 1H12
Oper
at		 1H13
ing Exp		 .

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FB 1H 2013 Loan Book Mix

1H13 Loan Book1 (in NT$ bn or %)
1,401.5
1,442.9
1H12
1H13
Loan Book1
+3.0%		 1H13 Loan Book1 (in NT$ bn or %)
1,401.5
1,442.9
1H12
1H13
Loan Book1
+3.0%		 % of Loan Book1
Item
1H12
1H13
Change
Consumer
26.5%
27.9%
+1.4%
Mortgage
25.6%
26.9%
+1.3%
Other Consumer Loan
0.9%
1.0%
+0.1%
Corporate Banking
73.5%
72.1%
-1.4%
Commercial Loan
48.2%
47.3%
-0.9%
--- SME
36.7%
36.4%
-0.3%
F/X/ Loan
18.5%
18.9%
+0.4%
--- Overseas
7.6%
8.2%
+0.6%
Gov./SOE Loan
6.8%
5.9%
-0.9%
Loan Book1
100.0%
100.0%

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1H13 Loan Book [1 ] Breakdown (in NT$ bn )
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1H13 Loan Book Breakdown (in NT$ bn ) ↑ 0.9% 682.4
676.3
↑ 8.2%
387.9
SME ↑ 2.0% ↑ 5.4%
259.1 273.2
↓ 10.6% SME [2] Overseas
358.6 SME [2] 126.9
85.1 514.2
524.6
Overseas Overseas
12.3 14.3 95.2 107.4 117.7
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FB Loan Breakdown

-QoQ Comparison

FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn) FB Loan Growth(in NT$ bn)
Total loan 1,354.4 1,380.2 1401.5 1403.3 1438.4 1430.6 1442.9
QoQ%
SME 500.2 488.7 514.2 510.6 523.5 520.6 524.6 +0.8%
240.4 244.2 259.1 264.6 260.2 267.3 273.2 +2.2%
F/X loan 98.3 103.6 95.2 68.3 92.0 88.5 85.1 -3.8%
Gov/SOE
Mortgage		 350.0 351.5 358.6 367.3 377.9 385.3 387.9 +0.7%
+0.9%
Commercial 654.3
 669.7 676.3 690.3 694.5 676.2 682.4
Loan2
4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13

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FB 1H 2013 Total Loan & NIM

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

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

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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|1H13 Mortgage by Location|(in %)|Mortgage Yield & LTV Ratio|(in %)|
|Location|1H13|Loan-to-value ratio of new mortgage|Avg. loan-to-value ratio|
|North|70%|
|Mortgage Yield|
|TPE Metro|54%|
|Taoyuan/Hsinchu/|16%|2.26%|2.24%|2.22%|2.20%|2.18%|2.16%|2.15%|2.15%|
|Mioli|
|Central|10%|
|Taichung|
|70.06%|[70.53%]|[70.97%]|
|South|16%|67.01%|66.67%|66.68%|67.14%|66.82%|
|51.31%|51.64%|51.66%|
|Tainan/Kaohsiung|48.89%|48.74%|48.87%|49.09%|48.77%|
|East|4%|
|Total|100.0%|
|9M11|2011|3M12|6M12|9M12|2012|3M13|6M13|
|Mortgage Balance and NPL|(in NT$ bn and % )|↑|4.3%|
|Mortgage NPL|■|Mortgage Balance|
|0.30%|0.27%|
|0.23%|0.23%|
|0.21%|0.17%|0.16%|
|SME|[2]|SME|[2]|
|↑|17.2%|
|↑|36.8%|317.0|305.0|
|385.3|387.9|
|377.9|
|367.3|
|350.0|351.5|358.6|
|2011|3M12|6M12|9M12|2012|3M13|6M13|

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Major Exposures to Specific Industries

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End of 1H13 - % of Loan to Industries
Total Loan Bal. [1] : NT$1,442.9 bn
Manufacturing (28.58%) Non-Manufacturing (71.42%)
6.26% Petro.
Hotel& Restaurant 1.14%
5.15% Metal
Wholesale/Retail
8.01% Tech. 10.16%
1.14% Solar Real Estate 6.10%
1.62% TFT-LCD
Transportation &
6.30%
Warehousing
0.30% LED
Shipping 2.24%
0.53% DRAM
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FB 1H 2013 Fee Income Breakdown
1H 2013 Cumulative Net Fee Income(in NT$ mn or %) % of Cumulative Net Fee
2,511 Item
WM1		 1H12
46.4%		 1H13
45.2%		 Change
-1.2%
+1.8% F/X 17.8% 17.8% +0.0%
2,467 Other2 13.4% 13.1% -0.3%
1H12
1H13		 Loan-related
Credit Card		 15.7%
6.7%		 17.1%
6.8%		 +1.4%
+0.1%
Net Fee Income Cumulative Net Fee 100.0% 100.0%
1H13 Cumulative Net Fee Breakdown( in NT$ mn )
↓0.9%
1,145 1,134 ↑11.1% ↑2.1%
↑2.4%
↓23.7% 387 430 438
447		 167 171 330 329
↑3.0%
1H12 1H13 1H12 1H13 1H121H13 1H12 1H13 1H12 1H13
WM Fee 1 Loan -related F/X Cre dit Card Oth er2

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FB Fee Income Breakdown

-QoQ Comparison

Fee Income Income (in NT$mn) (in NT$mn) (in NT$mn)
Fee
Income		 1,292 1,251 1,349 1,199 1,312 QoQ% +9.4%
145
Credit Card
F/X
Others*		 225
85
166		 65
192		 92
217		 86
164		 227
85
165
Loan
Related
Related		 213 263
255		 259 208
220		 222
Wealth
MGT. 603 476 636 521 613
2Q12 3Q12 4Q 12 1Q13 2Q13

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FB 1H 2013 Cost-to-Income Ratio

8,036
8,091
1H12
1H13
Operating Expense
1H 2013 Cumulative Operating Expense(in NT$ mn )
+0.7%		 Cost-to-Income Ratio Analysis( in NT$ mn) Cost-to-Income Ratio Analysis( in NT$ mn) Cost-to-Income Ratio Analysis( in NT$ mn)
Item
1H12
1H13
Restate figures for
Net Revenue
16,235
15,773
YoY comparison
Operating Expense
(8,036)		 (8,091)
Provision(Net)
(450)		 (269)
Income Tax
(1,198)		 (1,269)
Net Income
6,551
6,144

Quarterly Operating Expense & Cumulated Cost-to-Income Ratio ( in NT$ mn or % )

47.89%
49.31%
Net Revenue		 47.89%
49.31%
Net Revenue		 47.89%
49.31%
Net Revenue		 47.89%
49.31%
Net Revenue		 50.06%
50.18%
49.49%
44.96%
Operating Expense
Cost-to-Income Ratio		 50.06%
50.18%
49.49%
44.96%
Operating Expense
Cost-to-Income Ratio		 50.06%
50.18%
49.49%
44.96%
Operating Expense
Cost-to-Income Ratio		 50.06%
50.18%
49.49%
44.96%
Operating Expense
Cost-to-Income Ratio		 50.06%
50.18%
49.49%
44.96%
Operating Expense
Cost-to-Income Ratio		 50.06%
50.18%
49.49%
44.96%
Operating Expense
Cost-to-Income Ratio		 50.06%
50.18%
49.49%
44.96%
Operating Expense
Cost-to-Income Ratio		 50.06%
50.18%
49.49%
44.96%
Operating Expense
Cost-to-Income Ratio		 50.06%
50.18%
49.49%
44.96%
Operating Expense
Cost-to-Income Ratio		 50.06%
50.18%
49.49%
44.96%
Operating Expense
Cost-to-Income Ratio		 46.63% 46.63% 46.63% 51.53% 51.53% 51.30%
7,967 8,167 7,271 7,921 8,314 8,302 7,730 7,672 8,101
3,751 4,248 3,817 3,975 4,061 3,904 4,041 3,953 4,138

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FB 1H 2013 Asset Quality

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NPL Amount, Reserve, Coverage (in NT$ mn or % )
Gross Provision Ratio
(loss reserve against performing loan)
Coverage Ratio LLR ratio (loan loss reserve/total loan, excluding gov.loan)
248.97%
217.90% 238.38% 233.17% 228.97%
211.76% 207.78%
174.03%
1.09% 1.17% 1.25% 1.22%
1.01% 1.01%
NPL Ratio NPL NPL Reserve
0.55%
0.47% 0.47% 0.50% 0.50% 0.50%
0.44% 0.44%
13,064 13,886 15,992 16,889 16,604
14,443 14,077 14,782
7,507 6,373 6,059 6,648 7,114 6,423 7,243 7,252
9M11 2011 3M12 6M12 9M12 2012 3M13 6M13
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FB NPL Migration by Sectors
Individual & Mortgage NPL ratios Large Corp. & SME NPL ratios
Individual Large Corp.
0.30% 0.31% 0.25% 0.20% 0.18%
Mortagage		 0.84% 0.77% 0.70% 0.70% 0.64%
SME
0.23% 0.23% 0.21% 0.17% 0.16% 0.40% 0.50% 0.49% 0.55% 0.58%
2Q12 3Q12 4Q12 1Q13 2Q13
2Q12 3Q12 4Q12 1Q13 2Q13
Domestic & Overseas NPL ratios Total NPL ratio
Total NPL
Domestic Overseas 1.12%
0.72% 0.73% 0.70% 1.09% 0.47% 0.50% 0.44% 0.50% 0.50%
0.43%
2Q12		 0.47%
3Q12		 0.40%
4Q12		 0.41%
1Q13		 0.40%
2Q13		 2 Q 12 3 Q12 4Q12 1Q1 3 2Q13

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FB 1H 2013 New NPL Influx & Recovery

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

|||||||||
|---|---|---|---|---|---|---|---|
|Breakdown of New NPL Influx|(in NT$ mn|）|Quarterly Recovery Mix|(in NT$ mn)|
|Quarterly NPL Influx|1Q13|2Q13|1H13|
|Quarterly Recovery|1Q13|2Q13|1H13|
|--- from Domestic|(49)|343|294|--- from Domestic|784|381|1,165|
|--- from Overseas|1,100|1,054|2,154|--- from Overseas|83|687|770|
|----from Credit Card|20|14|34|
|Total NPL Influx|1,051|1,397|2,448|Total Recovery|887|1,083|1,970|
|Quarterly New NPL Influx & Write-offs|( in NT$ mn)|
|Write-off|New NPL Influx|
|0.15%|
|0.09%|
|2,137|0.07%|
|0.00%|0.00%|0.00%|
|1,548|
|1,337|1,3881,397|
|1,051|
|831|871|
|682|
|525|
|342|
|231|
|120|28|(9)|

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CAR & Core Capital

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

FFHC Group CAR
Re-Cap
NTD 16.4 bn
CAR
125.55%
120.19% [123.71%] 119.69% 117.99% 123.00% 117.05% 119.40%
115.14%
111.50%
103.60% statutory CAR 100%
FB CAR & Core Capital
Re-Cap
NTD 15 bn
CAR
11.51%
10.75% 10.88% 10.91% 11.01% 10.01% 10.36% 10.14% 10.94% 10.44% 11.03%
Tier 1
8.28% 8.23% 8.41% 8.34%
7.03% 7.10% 7.08% 7.45% 7.13% 7.00% 6.82%
1H 08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 2H12 1H13
1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 2H12 1H13
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Shareholder Return

FFHC Earnings 0.75
0.75
1.82
0.44
1.20
2.05
2007
2008
2009
Per Share( in NT$ dollar )		 0.75
0.75
1.82
0.44
1.20
2.05
2007
2008
2009
Per Share( in NT$ dollar )		 0.90
0.96		 0.90
0.96
EPS
Dividend
2007
2008
2009		 2010
FFHC Dividend History( in NT$ dollar )
2007
2008
2009		 2010 2011
2012
Cash dividend 1.70
0.50
0.50		 0.30 0.40
0.45
Stock dividend 0.12
0.25
0.25		 0.60 0.60
0.65
Total dividend 1.82
0.75
0.75		 0.90 1.00
1.10

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Overseas Theme

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FB 1H 2013 Overseas Profits

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1H13 FB Overseas Pre-Tax Profit Mix ( in % ) 1H13 FB Total Pre-Tax Profit Chart ( in NT mn & %)
23.0%; OBU
Domestic Branches;
Others; 72.7%
15.3%
1H13 Overseas Total Pre-Tax
Pre-Tax Profit
56.0%; 11.9%; HK Greater China;
Others $2,025 mn 12.0% $7,413 mn
7.4%; Shanghai
1.7%; Macau
Quarterly Overseas & Total PTP (in NT$ mn or %)
Overseas Total Cumulative Overseas PTP to FB Total PTP
34.6% 37.6% 37.7% 36.9%
30.5% 28.7% 30.6% 27.3% 21.2% 27.3%
4,214
3,895
3,532 3,518
3,077 3,160
2,749
2,525
1,759
1,381
771 836 1071 1,223 1,669 1,040 568 745 1,280
85
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13
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Our Leasing Operations in China

Suzhou Leasing 1H13 Results- Pre-Tax Profit & Balance of Leasing Portfolio (in RMB)

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

First Leasing Chengdu Accumulated Pre-tax Profit Leasing Balance (in RMB mn)
(in RMB ‘000)
305
Grand-opened in Jan. 2012 217
130
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----- Start of picture text -----

3,236 (164)
122
2012 1Q13 1H13
•Suzhou Leasing is a sub-subsidiary company of First Bank
•Chengdu Leasing is a subsidiary company of First AMC.
34
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Appendix

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FFHC Comprehensive Statement of Income

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

Full Year Results Year-over-Year Comparison Year-over-Year Comparison Year-over-Year Comparison
~~2010~~
~~2011~~
~~2012~~		 ~~1H12~~ ~~1H13~~ ~~Change~~
Net interest income
12,445
Net service fee & commission
3,108
Net Insurance revenue
(342)
Gain on financial assets meas.
859
at fair value through P/L
Real estate investment gain
43
Gain on AFS financial assets
191
Gain on HTM financial assets
1
Income from equity invest.
23
Net gain on F/X
302
Assets impairment loss
2
Others
798
Ner Revenue
17,430
Net Provision for credit losses
(486)
Recovered(provided) for insurance re
316
Operating Expense
(9,281)
Income from continued op. before t
7,979
Income tax expenses
(1,299)
Consolidated net income
6,680		 12,695
3,043
(141)
247
42
17
(7)
52
765
0
486
17,200
(339)
324
(9,387)
7,796
(1,436)
6,361		 2.0%
-2.1%
-58.8%
-71.2%
-2.3%
-91.1%
-800.0%
126.1%
153.3%
-100.0%
-39.1%
-1.3%
-30.2%
-2.5%
1.1%
-2.3%
10.5%
-4.8%
Other Items
(297)
ComprehensiveIncome
6,384		 393
6,753		 --
5.8%
Net Income attributed to:
Parent
6,716
Minorityinterests
(36)		 6,332
29		 -5.7%
--

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FFHC Non-consolidated Income Statement

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

in NT$ million, NT$, or %
Full Year Results 2013 Quarterly Year-over-Year Comparison
2010 2011 2012 Q1 Q2 1H12 1H13 Change
Operating revenues
Income from long-term investment 7,299 8,857 10,634 3,058 3,320 6,723 6,378 -5.1%
Other income
1		 222 238 252 5 210 239 215 -10.0%
Total revenues 7,521 9,095 10,886 3,062 3,532 6,961 6,594 -5.3%
Loss from long-term investment (73) (992) (337) (6) (2) (46) (8) --
Operating expenses (215) (235) (230) (58) (63) (126) (121) 4.0%
Other expenses and losses (205) (228) (145) (36) (36) (73) (72) 1.4%
Income from continued op. before tax 7,027 7,641 10,174 2,963 3,430 6,716 6,393 -4.8%
Income from continued po. after tax 7,032 7,602 10,174 2,963 3,369 6,716 6,332 -5.7%
Income from discontinued op., net of t 0 0 0 0 0 0 0 --
Net income 7,032 7,602 10,174 2,963 3,369 6,716 6,332 -5.7%
EPS2(NT$) 0.96 1.01 1.25 0.36 0.37 0.78 0.73 -6.4%
  1. Including income other than long-term investment 2. EPS is adjusted retroactively for stock dividends

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FFHC Balance Sheet
~~FFHC Balance Sheet Summary~~
in NT$ million or million shares
Q1
Q2
141,812
140,615
145,459
149,252
9,226
13,956
136,233
135,296
2,147,634 2,170,366
2,010,831 2,034,545
136,803
135,821
136,233
135,296
571
525
81,254
81,254
~~2013 Quarterly~~
1H12 1H13 Change
134,039
140,943
12,234
128,709
2,100,973
1,971,668
129,305
128,709
596
76,654		 140,615
149,252
13,956
135,296
2,170,366
2,034,545
135,821
135,296
525
81,254		 4.9%
5.9%
14.1%
5.1%
3.3%
3.2%
5.0%
5.1%
-11.9%
6.0%

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FFHC Key Ratios

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FFHC Key Ratios

2010
2011
2012
0.35%
0.36%
0.48%
6.67%
6.38%
7.73%
16.37
16.53
16.48
64,768
76,654
81,254
103.77%
103.58%
104.11%
117.99%
123.00%
125.55%
11.29%
6.63%
6.41%
Full Year Results		 3M
6M
0.56%
0.60%
8.80%
9.48%
16.76
16.65
81,254
81,254
104.09%
103.93%
126.26%
119.40%
6.34%
9.35%
2013 Quarterly		 Year-over-Year Comparison Year-over-Year Comparison Year-over-Year Comparison
1H12 1H13 Change
After-tax ROAA (Annualized ratio)
After-tax ROAE (Annualized ratio)
Book Per Share
Capital Stock
Double leverage1
Group CAR
2
Debt Ratio3		 0.64%
10.46%
17.10
76,654
104.07%
117.05%
8.68%		 0.60%
9.48%
16.65
81,254
103.93%
119.40%
9.35%		 -6.3%
-9.4%
-2.6%
6.0%
-0.1%
2.0%
7.7%

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

  2. Updated semi-annually.

  3. Non-consolidated basis.

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FB Income Statement

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

2010
2011
2012
Net revenue
Net interest income
18,179
20,761
23,003
Net fee income
4,921
4,826
4,931
Net gain on ST invest.
531
440
162
Net gain on LT invest.
303
498
633
Net gain on other fin. products
1,681
2,581
2,141
Bad debts recovery
2,005
2,402
2,415
Other net income
209
(584)
446
Net revenue
27,829
30,924
33,731
Operating expenses
(14,200)
(15,482)
(15,730)
Provision
(5,429)
(5,300)
(5,809)
Income before tax
8,201
10,142
12,192
Income tax
(1,862)
(1,517)
(1,817)
Income after tax
6,339
8,625
10,375
Cummulative effect of change
0
0
0
in accounting principle
Net income
6,339
8,625
10,375
Full Year Results		 1H12
1H13
Change
Net interest income
11,903
12,196
2.5%
Net fee income
2,467
2,511
1.8%
Net gain on ST invest.
95
(44)
-146.3%
Net gain on LT invest.
268
163
-39.2%
Net gain on other fin. product
1,069
859
-19.6%
Other net income
433
88
-79.7%
Net revenue
16,235
15,773
-2.8%
Operating expenses
(8,036)
(8,091)
0.7%
Pre-provisiion pre-tax profit
8,199
7,682
-6.3%
Provision expense
(2,229)
(2,239)
0.4%
Adjustment: bad-debt recov
1,779
1,970
10.7%
Income before tax
7,749
7,413
-4.3%
Income tax
(1,198)
(1,269)
5.9%
Net income
6,551
6,144
-6.2%
Year-over-Year Comparison		 Year-over-Year Comparison Year-over-Year Comparison Year-over-Year Comparison
1H12 1H13 Change
12,196
2,511
(44)
163
859
88
15,773
(8,091)
7,682
(2,239)
1,970
7,413
(1,269)
6,144		 2.5%
1.8%
-146.3%
-39.2%
-19.6%
-79.7%
-2.8%
0.7%
-6.3%
0.4%
10.7%
-4.3%
5.9%
-6.2%
Other items
(345)
Comprehensive income
6,206		 494
6,638		 --
7.0%

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FB Key Ratios

~~FB Key Ratios~~

Loan to deposit spread
Net Interest Margin
Cost to income ratio4
Loan to deposit ratio1
NPL ratio
Coverage ratio
CAR
Tier-1
ROAA2
ROAE2		 2010
2011
2012
1.41%
1.41%
1.49%
1.02%
1.10%
1.21%
51.03%
50.06%
46.63%
78.14%
84.72%
89.49%
0.84%
0.47%
0.44%
112.58%
217.90%
248.97%
10.36%
10.94%
11.51%
7.00%
8.28%
8.41%
0.32%
0.43%
0.51%
6.82%
8.12%
8.58%
Full Year Results		 3M
6M
1.52%
1.53%
1.26%
1.26%
51.53%
51.30%
88.51%
88.29%
0.50%
0.50%
233.17%
228.97%
11.44%
11.03%
8.49%
8.34%
0.56%
0.60%
9.44%
9.84%
2013 Quarterly		 Year-over-Year Comparison Year-over-Year Comparison Year-over-Year Comparison
1H12 1H13 Change
1.47%
1.20%
49.49%
88.28%
0.47%
211.76%
10.44%
8.23%
0.64%
11.14%		 1.53%
1.26%
51.30%
88.29%
0.50%
228.97%
11.03%
8.34%
0.60%
9.84%		 0.06%
0.06%
1.81%
0.01%
0.03%
17.21%
0.59%
0.11%
-6.25%
-11.67%

  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, 1H12&1H13 figures adjusted accordingly.

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FB Loan Qualit y

FB NPL Migration in NT$ million or %

F
in
PL- beginning
Net new NPL influx
Net write-offs
PL- ending balance
lowance for loan loss- beginning
Provisions for loan loss
Net write-offs
Others
lowance for loan loss- ending
PL ratio
overage ratio		 2009
2010
2011
2012
16,916
14,615
10,550
6,373
4,776
1,270
(1,421)
3,493
(7,077)
(5,335)
(2,756)
(3,443)
14,615
10,550
6,373
6,423
9,365
12,386
11,877
13,886
10,151
5,273
4,825
5,705
(7,077)
(5,335)
(2,756)
(3,443)
(53)
(447)
(60)
(156)
12,368
11,877
13,886
15,992
1.32%
0.84%
0.47%
0.44%
84.75%
112.58%
217.90%
248.97%
Full Year Resu		 Q1
Q2
6,423
7,243
1,051
1,397
(231)
(1,388)
7,243
7,252
15,992
16,889
1,063
1,114
(231)
(1,388)
65
(11)
16,889
16,604
0.50%
0.50%
233.17%
228.97%
2013 Quarterly		 Year-over-Year Comparison
1H12 1H13 Change
N


N
Al



Al
N
C		 6,373
2,165
(1,890)
6,648
13,886
2,197
(1,890)
(116)
14,077
0.47%
211.76%		 6,423
2,448
(1,619)
7,252
15,992
2,177
(1,619)
54
16,604
0.50%
228.97%		 0.8%
13.1%
-14.3%
9.1%
15.2%
-0.9%
-14.3%
-146.6%
18.0%
0.0%
17.2%
1.
  1. Non-consolidated basis

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First Sec. Operating Report

First Securities Financial Results Summa in NT$ million or %
Firs
in N
Firs
Tota
Br
N
U
Pr
Ot
To
Tota
Non
Inco
Inco
Cum
Net i
Firs
ROA
ROA
Brok
Mar

==> picture [180 x 32] intentionally omitted <==

FSITC Operating Report

FSITC Income Statement Summary in NT$ million or %

Year-over-Year Comparison Year-over-Year Comparison Year-over-Year Comparison
1H12 1H13 Change
225
1
226
(168)
3
61
(10)
51
0
51		 255
1
256
(196)
4
64
(11)
53
0
53		 13.3%
--
13.3%
16.7%
33.3%
4.9%
10.0%
3.9%
--
3.9%
FSITC Key Ratios
AUM
92,188
97,401
81,568
AUM Ranking
8
5
8		 87,020
8		 78,106
10		 -10.2%
--
  1. Non-consolidated basis

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– First Aviva Operating Report

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

in NT$ million or %
Full Year Result Year-over-Year Comparison
2010 2011 2012 1H12 1H13 Change
Income Statement Summary
Operating Revenue 6,314 4,993 7,342 2,618 5,091 94.5%
Premium Income 5,856 4,788 6,381 2,226 4,848 117.8%
Other insurance income 17 23 42 18 35 94.4%
Net Investment Income 441 182 919 373 208 -44.2%
Operating Cost (6,139) (4,902) (7,080) (2,516) (4,859) 93.1%
Reinsurance commission (5) (6) (10) (5) (6) 20.0%
Reserves (4,527) (1,128) (3,002) (355) (2,136) 501.7%
Claims (1,477) (3,595) (3,825) (2,047) (2,547) 24.4%
Commission (130) (172) (243) (109) (170) 56.0%
Others 0 0 0 0 0 --
Operating Expenses (319) (359) (377) (176) (174) -1.1%
Sales related expenses (32) (56) (60) (25) (20) -20.0%
Management expenses (278) (287) (300) (144) (144) 0.0%
Other expense (9) (16) (17) (7) (10) 42.9%
Profit/Loss of Operation (145) (268) (115) (74) 59 -179.7%
Non-Operating Profit 2 0 0 0 0 --
Profit/Loss Before Tax (143) (268) (115) (74) 59 -179.7%
Income tax 0 0 0 0 0 --
Net Income after tax (143) (268) (115) (74) 59 -179.7%
Key Ratios
ROAE(Annualized ratio)
ROAA(Annualized ratio)		 -9.00%
-0.77%		 -18.82%
-1.29%		 -9.21%
-0.51%		 -11.70%
-0.70%		 10.38%
0.46%		 --
--

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