O-bank Co. Ltd. · TWSE:2897
O-bank — Investor Presentation (December 2024)
46 slides from O-bank's investor presentation, Dec 19, 2024
Slide 1: O-Bank 2024 9M Business Review
Security Code：2897.TW O-Bank 2024 9M Business Review 19 Dec 2024
Slide 2: Disclaimer
Disclaimer This document is provided by O-Bank Co., Ltd. (the "Company"). The Company makes no express or implied representations or warranties as to the accuracy, completeness, or correctness of such information or opinions. This document is provided as of the date herein and will not be updated to
Slide 3: Agenda
01 2024 9M Operation Highlights 02 2024 9M Financial Results Agenda 03 Key Strategic Focuses 04 Appendix 2
Slide 4: 2024 9M Operation Highlights
01 2024 9M Operation Highlights 3
Slide 5: 2024 9M Operation Highlights
01 2024 9M Operation Highlights Both Consolidated and Standalone NPAT achieved 1 Operating Performance Record High for the same period since IPO NTD million O-Bank 2024 9M 2023 9M YoY Consolidated Net Revenues 8,199 7,507 +9% Consolidated Net Profits After Tax 3,078 2,950 +4% Standalone Net Revenues
Slide 6: 2024 9M Operation Highlights
01 2024 9M Operation Highlights Net Profits Before Tax from the Bank achieved 1 Operating Performance Record High for the same period since IPO NTD million O-Bank 2024 9M 2023 9M YoY Standalone Net Revenues (Excluding share of profit of associates subsidiaries and 5,360 4,656 +15% accounted for usin
Slide 7: 2024 9M Operation Highlights: Main Subsidiaries
01 2024 9M Operation Highlights 1 Operating Performance 2024 9M 2023 9M Main YoY Net Profits Net Profits (Net Profits Subsidiaries After Tax Earnings Per After Tax Earnings Per After Tax) Share(EPS) Share(EPS) (NT$ million) (NT$ million) China Bills 1,089 NTD $0.81 1,089 NTD $0.81 +0% Finance EverTr
Slide 8: Capital Adequacy & Asset Quality
01 2024 9M Operation Highlights 2 Capital Adequacy & Asset Quality Maintained a Stable Capital Adequacy & Asset Quality ⚫ As of the end of September 2024, O-Bank’s BIS Ratio was 14.86%, Tier1 Capital Ratio was 13.20%, and CET1 Ratio was 12.23%. ⚫ As of the end of September 2024, O-Bank’s NPL ratio w
Slide 9: Awards & Recognitions in 2024
01 Awards & Recognitions in 2024 Participated for the first time in the Carbon Disclosure As of December 2024, O-Bank scored 7.3, ranked No.1 Project (CDP) assessment in 2023 and achieved an among all listed companies in Taiwan and Top 1% of exemplary "A-" score, attaining the Leadership Level. glob
Slide 10: 2024 9M Financial Results
02 2024 9M Financial Results 02-3 Individual Financial Results: 02-1 Consolidated Financial Results China Bills Finance Corp. 02-2 Standalone Financial Results: 02-4 Individual Financial Results: O-Bank EverTrust Bank 9
Slide 11: O-Bank's Main Subsidiaries and Associated Companies
02 O-Bank’s Main Subsidiaries and Associated Companies ：O-Bank and its subsidiaries O-Bank Co., Ltd. ：Associated companies whose profits are recognized using equity method ：O-Bank and its main profit subsidiaries 100% 28.37% 100% 41.64% 20% IBT Holdings Venture Capital Business Infinite Beijing Suns
Slide 12: Consolidated Financial Results
02-1 Consolidated Financial Results 11
Slide 13: Consolidated Financial Results: Total Assets and Net Profit
02-1 Consolidated Financial Results Total Assets Net Profit NT $ billion NT $ million Net Profit Total Assets Total Assets to Parent Company Net Profit Attributable to Parent Bank Growth Rate 8.56% 8.25%* 2.62% -0.06% 0.39% 5,808 YoY+4.32% 678 627 575 575 577 5,034 YoY+6.15% 3,426 3,200 2,778 2,950
Slide 14: Net Profit Compositions by Business Unit
02-1 Consolidated Financial Results Net Profit Compositions Net Profits Before Tax from the Bank grew NT $ million (by Business Unit) over 20% YoY 7 3,078 159 18 53 2024 9M 1,089 277 1,474 O-Bank CBF IBT Holdings Venture Capital Infinite Finance *2 Sunshine Others *3 Consolidated Net (holding Busine
Slide 15: Consolidated Net Profit Compositions
02-1 Consolidated Financial Results Net Profit Compositions NT $ million 2024 9M 8,199 3,827 3,078 -3,850 -522 -750 Net Revenue Operating Expense Provision Profit before Tax Tax & Income(loss) Net Profit from discontinued operations YoY +9.21% +9.49% +32.64% +6.38% +15.77% +4.32% 2023 9M 7,507 3,598
Slide 16: Consolidated Net Revenue Breakdown
02-1 Consolidated Financial Results Net Revenue Gains on financial assets or liabilities measured at Breakdown fair value and Foreign exchange gain grew nearly 20% YoY One-off Gain Others NT $ million Gains on financial assets or liabilities measured at fair value / Foreign exchange gain(loss) Net F
Slide 17: Standalone Financial Results - O-Bank
02-2 Standalone Financial Results -O-Bank- 16
Slide 18: Standalone: Net Profit before Tax grew 25% YoY
02-2 Standalone Financial Results: O-Bank Net Profit before Tax from the Bank grew 25% YoY NT $ million NT $ million Net Profit before Tax Net Profit One-off Gain One-off Gain Share of profit of associates subsidiaries Net Profit Net Profit before Tax from Bank 5,242 5,034 3,030 YoY YoY+6.15% 2,801
Slide 19: Standalone Net Profit Compositions by Business Unit
02-2 Standalone Financial Results: O-Bank Net Profit Compositions NT $ million (by Business Unit) 2024 9M 159 18 53 7 2,275 254 309 1,474 *3 O-Bank CBF IBT Holdings Venture Capital Infinite Finance*2 Sunshine Others Standalone (holding Business Consumer Net Profit EverTrust Bank) (Inc. IBT VII Finan
Slide 20: ROE, ROA, NIM & Spread
02-2 Standalone Financial Results: O-Bank ROE & ROA NIM & Spread Spread ROE ROE(excl. one-off gain) NIM ROA NIM with FX Swap ROA(excl. one-off gain) 13.59% 1.71% 1.69% 1.71% 1.53% 1.55% 1.41% 1.18% 1.20% 1.17% 7.41% 1.08% 7.16% 5.64% 6.41% 0.84% 0.80% 5.12% 0.95% 3.33% 1.50% 0.81% 0.79% 0.79% 0.74%
Slide 21: Standalone Net Revenue Breakdown
02-2 Standalone Financial Results: O-Bank Net Revenue Both Gains from FVPL and fees from distributing Breakdown financial products and Net Fee Income grew over One-off Gain 20% YoY Others NT $ million Share of profit of associates subsidiaries and accounted for using equity method Gains on financial
Slide 22: EPS and Cost/Income Ratio
02-2 Standalone Financial Results: O-Bank EPS achieved Record High for the same period since IPO Cost/Income NT $ million NT $ Ratio EPS Operating Expense Operating Expense(excl. one-off exp.) Net Revenue Net Revenue(excl. one-off gain) EPS YoY+6.76% Excl. One-off Gain Cost Income Ratio(Excl. One-Of
Slide 23: Loan & Deposit Balances
02-2 Standalone Financial Results: O-Bank NT $ billion Loan & Deposit Balances Deposits Loans LDR 73.38% 67.57% 68.37% 66.81% 65.56% 302 309 279 253 238 227 207 189 166 159 2020 2021 2022 2023 9M24 Note: Deposit balances included the time deposits placed by Chunghwa Post Co. 22
Slide 24: Deposit structure continued improving
02-2 Standalone Financial Results: O-Bank Deposit structure continued improving Deposit Composition of Breakdown NT $ billion Depositors NT $ billion % of the total FCY Time FCY Demand deposits NTD Time NTD Demand Financial Institution 302 309 Large Corp. 279 SME Retail 309 302 253 32% 98 279 17% 23
Slide 25: Loan Breakdown by Product and Industry
02-2 Standalone Financial Results: O-Bank Loan Breakdown Loan Breakdown by Product NT $ billion by Industry Corporate Loans Personal Loans Mortgages 227 207 Mortgages, 7.08% 189 Manufacturing, Personal Loan, 14.74% 166 Construction 8.55% 159 engineering, 1.73% Others, 5.56% Medical care, 0.90% Real
Slide 26: Asset Quality
02-2 Standalone Financial Results: O-Bank Asset Quality NT $ million NT $ million Loan Loss Reserve/NPL Loan Loss Reserve LLR Ratio(Loan Loss Reserve/Total Loans) NPL 1506.8% NPL Ratio 0.42% 0.41% 431.5% 0.35% 309.7% 353.6% 672.4% 0.21% 1.53% 0.09% 1.44% 1.43% 1.41% 1.31% 3,193 2,883 2,947 705 2,298
Slide 27: Capital Adequacy
02-2 Standalone Financial Results: O-Bank Capital Adequacy CAR Tier I CET1 Ratio (CAR) 14.71% 14.49% 14.86% 13.97% 13.63% 13.20% 12.67% 13.51% 12.72% 12.54% 12.36% 12.23% 11.46% 12.09% 11.34% 2020 2021 2022 2023 9M24 26
Slide 28: BV per share continued to grow
02-2 Standalone Financial Results: O-Bank BV per share continued to grow EPS/BVPS: NT $ Book Value Per Share P/B Ratio EPS EPS(excl. one-off gain) 0.75 0.73 0.74 0.67 0.67 0.59 13.30 13.66 13.03 12.02 12.45 11.75 3,030 1.80 0.87 0.79 0.69 0.74 0.63 0.41 2020 2021 2022 2023 9M23 9M24 27
Slide 29: Individual Financial Results - China Bills Finance Corp.
02-3 Individual Financial Results -China Bills Finance Corp.- 28
Slide 30: China Bills Finance: Net Profit and Net Revenue
Individual Financial Results: 02-3 China Bills Finance Corp. Net Profit Net Revenue NT $ million NT $ million Others Net Fee Income Net Interest Income 1,858 2,847 1,578 2,507 287 10.1% YoY+0.00% 194 YoY +4.37% 7.7% 1,289 2,019 1,645 1,089 1,089 1,301 1,745 1,040 45.7% 463 1,672 1,192 22.9% 47.6% 45
Slide 31: China Bills Finance: Assets, ROE, ROA & EPS
Individual Financial Results: 02-3 China Bills Finance Corp. Assets ROE, ROA & EPS ROE ROA NT $ billion Total Assets 7.28% Outsanding Balances of Guarantee 6.40% 6.40% Growth Rate of Guarantee Balances 5.78% 14.26% 5.49% 10.50% 4.38% 7.08% 0.83% 4.79% 0.76% 0.60% 0.68% 0.61% 254 -9.21% 0.48% 229 218
Slide 32: China Bills Finance: NPL, Reserve & CAR
Individual Financial Results: 03-3 China Bills Finance Corp. NPL & Reserve for Guarantee Liabilities CAR NT $ million Reserve for Guarantee Liabilities 資本適足率(CAR) CAR (Total Capital) NPL Ratio 第一類資本佔風險資產比率 Tier I Capital 1,375 1,382 1,382 1,396 1,371 13.74% 13.62% 13.36% 13.39% 13.43% 12.80% 12.65%
Slide 33: Individual Financial Results - EverTrust Bank
02-4 Individual Financial Results -EverTrust Bank 32
Slide 34: EverTrust Bank: Net Profit and Net Revenue
02-4 Individual Financial Results: EverTrust Bank Net Profit Net Revenue USD million USD million Net Revenue Net Interest Income 36.3 12.3 YoY-19.39% 32.5 32.6 33.1 YoY-7.02% 11.6 35.3 10.7 32.4 27.9 9.5 29.9 30.3 25.9 8.6 27.2 24.8 4.2 2020 2021 2022 2023 9M23 9M24 2020 2021 2022 2023 9M23 9M24 Not
Slide 35: EverTrust Bank: Assets, Loans, Deposits, ROE & ROA
02-4 Individual Financial Results: EverTrust Bank Assets, Loans & ROE, ROA & EPS Deposits USD million ROE ROA Total Assets Loans 6.48% Deposits Growth Rate of Loans 5.96% 5.47% 7.60% 4.86% 5.13% 3.37% 4.50% 3.16% -16.65% 1.87% 1.65% 1.20% 1.28% 1.29% 1,000 995 0.99% 0.48% 893 871 839 757 775 2020 20
Slide 36: EverTrust Bank: CAR, NPL & Coverage Ratio
02-4 Individual Financial Results: EverTrust Bank NPL Ratio & CAR Coverage Ratio Coverage Ratio 12974% 9852% 30.47% 29.24% 29.46% 5505% 29.03% 22.48% 87% 102% 2020 2021 2022 2023 9M24 4.27% NPL Ratio 2020 2021 2022 2023 9M24 1.04% 0.01% 0.01% 0.03% 2020 2021 2022 2023 9M24 35
Slide 37: Key Strategic Focuses
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Slide 38: "Boutique Digital Bank" Strategy
03 “Boutique Digital Bank” Strategy Grow Light-Capital Optimize Deposits Businesses Structure Strengthen sales of products Focus on cultivating small that utilize zero or low business and retail deposits to risk-weighted capital to improve the efficiency of Dig Deep improve the quality of profit ass
Slide 39: "Boutique Digital Bank" Strategy
03 “Boutique Digital Bank” Strategy Grow Light-Capital ⚫ Strengthen corporate banking services platform, with a focus on low risk- weighted capital products such as TMU and trade financing. Businesses ⚫ Enhance wealth management services platform by enriching product offerings Strengthen sales of pr
Slide 40: "Boutique Digital Bank" Strategy
03 “Boutique Digital Bank” Strategy ⚫ Leveraging resources in all of O-Bank Group, explore business and investment Accelerate Overseas opportunities in Sydney and Singapore, for more diversified assets allocation Expansion and robust profit structure. Extend O-Bank Group’s footprint to ⚫ Establish o
Slide 41: Strategic Investment Portfolio Business Overview
03 Strategic Investment Portfolio Business Overview Beijing Sunshine Beijing Sunshine Consumer Finance (Investment under Equity Method) • Deepen B2B2C collaboration Infinite Finance with various scenario-based platforms to bolster the consumer finance ecosystem and improve profit structures. • Furth
Slide 42: ALL FOR YOU
ALL FOR YOU - wuo-banicom
Slide 43: Appendix: Financial Summary of O-Bank and Its Main Subsidiaries
04 Appendix: Financial Summary of O-Bank and Its Main Subsidiaries 42
Slide 44: O-Bank Financial Summary
O-Bank-Financial Summary (NT $ million) 3Q24 2Q24 1Q24 4Q23 9M24 9M23 YoY Income Statement Interest income 3,028 3,068 2,966 2,728 9,062 8,020 13% Interest expense (2,360) (2,458) (2,366) (2,171) (7,184) (6,274) 15% Net interest income 669 610 600 558 1,878 1,747 8% Fee income 203 247 447 207 897 70
Slide 45: CBF Financial Summary
CBF-Financial Summary (NT $ million) 3Q24 2Q24 1Q24 4Q23 9M24 9M23 YoY Income Statement Interest income 1,132 978 961 864 3,071 2,271 35% Interest expense (1,046) (903) (880) (803) (2,828) (2,086) 36% Net interest income 87 75 82 60 243 185 32% Fee income 357 323 372 303 1,052 1,008 4% Other income
Slide 46: ETB Financial Summary
ETB-Financial Summary (USD $ thousand) 3Q24 2Q24 1Q24 4Q23 9M24 9M23 YoY Income Statement Interest income 13,937 13,765 13,284 12,644 40,986 37,602 9% Interest expense (5,378) (5,513) (5,259) (4,526) (16,150) (10,373) 56% Net interest income 8,559 8,252 8,025 8,118 24,836 27,230 -9% Fee income 190 1