SinoPac Financial Holdings Co., Ltd. · TWSE:2890

SinoPac Financial — Q4 2015 Earnings Presentation

28 slides from SinoPac Financial's earnings presentation, Feb 18, 2016

  1. Slide 1: 永豐金控 2015/4Q 法人說明會

    永豐金控 2015/4Q 法人說明會 February 18th, 2016

  2. Slide 2: Agenda

    Agenda • 金控整體營運摘要 (p. 2) • 財務概況 (p. 3~ p. 5) - 金控Financial Highlights (p. 3) - 銀行Financial Highlights (p. 4) - 證券Financial Highlights (p. 5) • 金控獲利分析 (p. 6~ p. 14) - 金控子公司獲利貢獻 (p. 6) - 金控獲利-跨期比較 (p. 7) - 金控淨收益趨勢 (p. 8) - 銀行NIM & Spread (p. 9) - 銀行放款結構分析 (p. 10) - 銀行存款結構分析 (p. 11) - 金控手續費收入組合 (p. 12)

  3. Slide 3: 金控整體營運摘要

    一、金控整體營運摘要 2015/1~12 金控稅後權益報酬率(ROAE) 8.42%  4Q淨收益NT$8,182Mn，QoQ 5.0%；1~12M淨收益NT$32,588Mn，YoY -15.3%  4Q稅後淨利NT$1,840Mn，QoQ -25.5%；1~12M稅後淨利NT$10,855Mn，YoY -16.6% 利息收益及手續費收入受外在環境影響  4Q利息淨收益NT$4,274Mn(52%)，QoQ -1.1%；1~12M利息淨收益NT$17,285Mn，YoY -4.7%  4Q手續費淨收益NT$2,229Mn(27%)，QoQ -5.5%；1~12M手續費淨收益NT$9,

  4. Slide 4: 金控Financial Highlights

    二、金控Financial Highlights NT$Mn； 2012 2013 2014 2015 YoY 2015/4Q 2015/3Q QoQ Mn Shares 股本 75,683 82,077 94,709 101,680 7.4% 101,680 101,680 0.0% 流通股數 7,568 8,208 9,471 10,168 7.4% 10,168 10,168 0.0% 權益 97,727 108,447 125,414 131,664 5.0% 131,664 129,836 1.4% 總資產 1,365,709 1,465,945 1,549,734 1,587,51

  5. Slide 5: 銀行Financial Highlights

    銀行Financial Highlights NT$Mn 2012 2013 2014 2015 YoY 2015/4Q 2015/3Q QoQ 股本 53,862 59,616 66,375 74,464 12.2% 74,464 74,464 0.0% 權益 78,251 87,552 99,528 109,088 9.6% 109,088 107,799 1.2% 總資產 1,266,443 1,357,033 1,415,618 1,440,809 1.8% 1,440,809 1,460,863 -1.4% Leverage 16.18 15.50 14.22 13.21 -1.02

  6. Slide 6: 證券Financial Highlights

    證券Financial Highlights NT$Mn 2012 2013 2014 2015 YoY 2015/4Q 2015/3Q QoQ 股本 15,365 16,212 16,212 16,212 0.0% 16,212 16,212 0.0% 淨值 22,759 23,834 25,121 25,453 1.3% 25,453 24,884 2.3% 總資產 82,272 88,908 110,609 120,355 8.8% 120,355 111,061 8.4% 資本利得 986 827 462 723 56.5% 566 -267 NA 穩定性收入 4,242 4,280

  7. Slide 7: 金控各子公司獲利貢獻

    三、金控各子公司獲利貢獻 0.4% 2015/4Q NT$Mn 28.7% 其他 證券 2,013 577 8 1,840 銀行 1,427 -172 70.9% 銀行 證券 其他 長投收益合計 金控淨支出 金控稅後淨利 (+/-) -861 544 -111 -429 -201 -629 收益佔比 QoQ 38% 1597% 93% 18% NA 25% 6.2% 11.4% 其他 2015/1~12M 證券 82.4% 688 11,098 10,855 1,265 銀行 9,145 -243 銀行 證券 其他 長投收益合計 金控淨支出 金控稅後淨利 (+/-) -2,238 -155 -

  8. Slide 8: 金控獲利比較

    金控獲利比較 2015/4Q NT$Mn 8,182 -5,216 -927 2,039 -198 1,840 淨收益 營業費用 提存 稅前淨利 所得稅 淨利 (+/-) 390 -481 -614 -705 76 -629 QoQ 5% 10% 195% 26% 28% 25% 32,588 -19,671 2015/1~12M -453 12,465 -1,610 10,855 淨收益 營業費用 提存 稅前淨利 所得稅 淨利 (+/-) -5,909 -95 3,585 -2,419 257 -2,162 YoY 15% 0.5% 89% 16% 14% 17% Note1： ：bette

  9. Slide 9: 金控淨收益趨勢

    金控淨收益趨勢 NT$Mn Quarterly 8,062 8,355 8,259 8,182 7,792 利息淨收益 手續費淨收益 4,521 4,411 4,278 4,322 4,274 其他 2,403 2,656 淨收益 2,282 2,358 2,229 1,679 1,260 1,541 1,324 1,112 2014/4Q 2015/1Q 2015/2Q 2015/3Q 2015/4Q 38,497 8,213 Yearly 32,977 4,079 4 32,588 2,074 18,141 2,060 17,285 16,099 10,476 9,881 9,646 20

  10. Slide 10: 銀行NIM & Spread

    銀行NIM & Spread Interest earning assets & Net interest income NIM & Spread NT$Mn Interest earning assets NII Spread NIM Loan Deposit 1,290,864 1,330,462 2.44% 2.40% 2.35% 2.29% 2.25% 4,099 3,984 3,917 3,860 3,847 1.55% 1.50% 1.43% 1.42% 1.43% 1.26% 1.24% 1.18% 1.15% 1.15% 0.89% 0.91% 0.92% 0.87% 0.82

  11. Slide 11: 銀行放款結構分析

    銀行放款結構分析 NT$Mn NT$Mn 2014 2015 YTD 總放款 817,633 898,047 9.8% 2015 463,097 消金, 435,195 2.7% 422,003 410,515 369,570 370,533 中小企業, 18.3% 大 型 298,565 個金, 企 293,848 277,000 45.7% 大型企業 業 33.2% Non- SME 中 小 164,532 企 141,348 145,003 24,264 25,097 24,435 業 2013 2014 2015 2013 2014 2015 2013 2014 2015 法 金 個

  12. Slide 12: 銀行存款結構分析

    銀行存款結構分析 Total Deposits Deposit by Currency NT$Mn 台幣活存 外幣活存 外幣定存 台幣定存 TWD USD RMB Others +2.9% 1,162,051 1,100,916 1,129,098 2.5% 2.5% 2.3% 5.6% 7.4% 5.8% 18.3% 21.3% 37.1% 38.5% 21.5% 42.1% 17.4% 16.1% 14.4% 11.9% 13.5% 13.1% 73.6% 68.7% 70.6% 活存比 45.4% 31.6% 32.0% 32.3% 2013 2014 2015 2013 2014 20

  13. Slide 13: 金控手續費收入組合

    金控手續費收入組合 NT$Mn 2014/4Q 2015/1Q 2015/2Q 2015/3Q 2015/4Q 手續費合計 2,656 手續費佔比 2,403 2,358 2,282 2,229 1,101 40% 1,089 1,006 989 951 證券 902 788 外匯與其他 792 9% 731 714 6% 放款 8% 信用卡 財富管理 36% 209 182 191 212 205 197 194 221 204 206 169 187 156 191 142 財富管理 信用卡 放款 外匯與其他 證券 2015/4Q Note: numbers are presented o

  14. Slide 14: 金控營業費用分析

    金控營業費用分析 NT$Mn Quarterly 64% 58% 59% 61% 58% 淨收益 營業費用 8,062 8,355 8,259 8,182 CI Ratio 7,792 4,827 4,893 5,216 4,666 4,735 2014/4Q 2015/1Q 2015/2Q 2015/3Q 2015/4Q Yearly 60% 56% 38,497 51% 32,977 32,588 18,501 19,576 19,671 2013 2014 2015 Note: numbers are presented on consolidated basis. 13/14

  15. Slide 15: 銀行放款資產品質

    銀行放款資產品質 NT$Mn 20,000 逾放餘額 備抵餘額 逾放比 備抵呆帳覆蓋率 1.20% 19,000 698.63% 709.06% 709.84% 673.56% 18,000 569.86% 17,000 16,000 15,000 14,000 13,000 12,000 11,000 0.23% 0.22% 0.22% 0.24% 0.21% 10,000 9,000 8,000 7,000 13,167 12,565 12,668 6,000 12,509 12,306 5,000 4,000 3,000 2,000 1,000 1,885 1,764 1,770 1,8

  16. Slide 16: SPH's Balance Sheet (Consolidated) - IFRS Pro Forma

    Appendix 1/13 SPH's Balance Sheet (Consolidated) - IFRS Pro Forma NT$ Mn Yearly Results Quarterly Results 2013 2014 4Q14 1Q15 2Q15 3Q15 4Q15 QoQ(% ) YoY(% ) Assets: Cash and cash equivalents, net 36,441 45,525 45,525 33,837 29,700 29,748 28,166 -5.32 -38.13 Due from the central bank and call loans t

  17. Slide 17: Balance Sheet of SPH and its subsidiaries

    Appendix 2/13 Balance Sheet of SPH and its subsidiaries for the 12 months ended Dec. 31, 2015 NT$Mn BSP SPS Trust Leasing Others Sum Adj. Items SPH (Consoliated) (Consolidated) (Consolidated) (Consolidated) Assets: Cash and cash equivalents, net 26,298 3,256 204 1,329 575 31,662 -3,496 28,166 Due fr

  18. Slide 18: SPH's P&L (Consolidated) - IFRS

    Appendix 3/13 SPH's P&L (Consolidated) - IFRS NT$ Mn Yearly Results Quarterly Results YTD Results 2013 2014 4Q14 1Q15 2Q15 3Q15 4Q15 QoQ(%) YoY(%) 12M15 YoY(%) Interest revenue 26,820 30,981 7,698 7,648 7,574 7,518 7,331 -2.48 -4.76 30,071 -2.94 Interest expense 10,721 12,841 3,177 3,237 3,296 3,196

  19. Slide 19: P&L of SPH and its subsidiaries

    Appendix 4/13 P&L of SPH and its subsidiaries for the 12 months ended Dec. 31, 2015 NT$Mn BSP SPS Trust Leasing Others Sum Adj. Items SPH (Consoliated) (Consolidated) (Consolidated) (Consolidated) Interest revenue 27,406 1,271 10 1,462 59 30,209 -137 30,071 Interest expense 11,797 572 0 401 154 12,9

  20. Slide 20: BSP's Balance Sheet (Consolidated) - IFRS

    Appendix 5/13 BSP's Balance Sheet (Consolidated) - IFRS NT$Mn Yearly Results Quarterly Results 2013 2014 4Q14 1Q15 2Q15 3Q15 4Q15 QoQ(%) YoY(%) Assets Cash and cash equivalents 34,215 41,312 41,312 31,899 26,107 26,288 26,298 0.04 -36.34 Due from the central bank and call loans to banks 61,148 90,15

  21. Slide 21: BSP's P&L (Consolidated) - IFRS

    Appendix 6/13 BSP's P&L (Consolidated) - IFRS NT$ Mn Yearly Results Quarterly Results YTD Results 2013 2014 4Q14 1Q15 2Q15 3Q15 4Q15 QoQ(%) YoY(%) 12M15 YoY(%) Interest revenue 24,994 28,542 7,062 6,998 6,898 6,883 6,626 -3.74 -6.18 27,406 -3.98 Interest expense 10,120 12,053 2,963 3,015 3,038 2,966

  22. Slide 22: SPS's Balance Sheet (Consolidated)-IFRS Pro Forma

    Appendix 7/13 SPS's Balance Sheet (Consolidated)-IFRS Pro Forma 4Q14 4Q15 Yearly Results Quarterly Results 2014 2015 4Q14 1Q15 2Q15 3Q15 4Q15 QoQ(%) YoY(%) Assets: Current assets 104,919 115,093 104,919 121,933 114,082 105,548 115,093 9.04 9.70 Cash and cash equivalents 5,761 3,256 5,761 3,703 3,707

  23. Slide 23: SPS's P&L (Consolidated)-IFRS Pro Forma

    Appendix 8/13 SPS's P&L (Consolidated)-IFRS Pro Forma Yearly Results Quarterly Results YTD Results 2013 2014 4Q14 1Q15 2Q15 3Q15 4Q15 QoQ(%) YoY(%) 12M15 YoY(%) Net interest income 886 1,362 356 343 340 366 333 -9.02 -6.46 1,382 1.47 Net fee income 2,880 3,659 978 728 929 779 836 7.32 -14.52 3,272 -

  24. Slide 24: BSP's Loan Breakdown (Consolidated)

    Appendix 9/13 BSP's Loan Breakdown (Consolidated) NT$Mn Yearly Results Quarterly Results Items 2013 2014 4Q14 1Q15 2Q15 3Q15 4Q15 QoQ(%) YoY(%) Corporate loans Manufacturing 189,247 179,787 179,787 172,923 162,501 174,346 168,069 -3.60 -6.52 Electronics Indusrty 81,554 72,343 72,343 69,204 60,769 66

  25. Slide 25: BSP's Loan Asset Quality

    Appendix 10/13 BSP's Loan Asset Quality NT$Mn Yearly Results Quarterly Results YTD Results 2013 2014 4Q14 1Q15 2Q15 3Q15 4Q15 QoQ(%) YoY(%) 12M15 YoY(%) NPL 90-days NPLs - beginning 2,673 2,991 1,754 1,885 1,764 1,770 1,881 6.25 7.24 1,885 -36.99 New NPL influx 4,256 1,834 723 381 586 455 769 68.86

  26. Slide 26: BSP's Fee Breakdown (Consolidated)

    Appendix 11/13 BSP's Fee Breakdown (Consolidated) NT$Mn Yearly Results Quarterly Results YTD Results 2013 2014 4Q14 1Q15 2Q15 3Q15 4Q15 QoQ(%) YoY(%) 12M15 YoY(%) Wealth management 3,523 3,966 730 1,098 1,085 1,002 788 -21.36 7.87 3,972 0.15 Mutual funds 1,652 1,964 413 529 510 357 275 -23.11 -33.43

  27. Slide 27: BSP's Credit Card Business

    Appendix 12/13 BSP's Credit Card Business NT$Mn Yearly Results Quarterly Results YTD Results 2013 2014 4Q14 1Q15 2Q15 3Q15 4Q15 QoQ(%) YoY(%) 12M14 12M15 YoY(%) Credit card business Cards in force(thousand) 2,137 2,178 2,178 2,189 2,204 2,165 2,145 -0.93% -1.53% 2,178 2,145 -1.53% Active cards(thous

  28. Slide 28: FENB Summary Ratios

    Appendix 13/13 FENB Summary Ratios US$mn Yearly Results Quarterly Results YTD Results 2013 2014 4Q14 1Q15 2Q15 3Q15 4Q15 12M14 12M15 Net income after tax 7 9 5 5 1 2 2 9 10 Total assets 1,319 1,340 1,340 1,241 1,211 1,281 1,248 1,340 1,248 Total equity 321 263 263 268 269 271 273 263 273 Total depos

SinoPac Financial Holdings Company — Q4 2015 Earnings Presentation on 6ix