Ts Financial Holding Co., Ltd. · TWSE:2887

Ts Financial — Taishin Financial Holding — Q2 2021 Earnings Presentation

33 slides from Ts Financial's earnings presentation, Aug 24, 2021

  1. Slide 1: 2021年第二季 營運說明會

    2021年第二季 營運說明會 2021年08月24日

  2. Slide 2: Disclaimer

    Disclaimer This presentation may include forward looking statements. All statements (other than statements of historical facts) that address activities, events, or developments that Taishin Financial Holding Co. Ltd. (“Taishin”) expects or anticipates will or may occur in the future are forward-look

  3. Slide 3: 營運概況

    營運概況 • 上半年稅後淨利129億元，去年同期為71億元 • 每股淨值14.41元，每股稅後盈餘1.10元，年化ROE 15.97% • 受到淨利息收入及淨手續費收入穩定成長，營業收入較去年同期成長6.3% 1H21 金控 • 財富管理業務及證券業務較去年同期分別成長3.3%及120.2%，帶動整體淨手續費收 營運概況 入較去年同期成長15.9%， • 營業費用較去年同期增加7.7% • 金控資本適足率126.9%，銀行資本適足率15.1% • 淨利息收入107億元，較去年同期成長2.5%，第二季NIM為1.14%，放款較去年同期 成長9.8% 1H21 銀行 • 淨手續費收入62億元，較去

  4. Slide 4: Agenda

    Agenda  2021年上半年金控財務數字  2021年上半年銀行獲利動能  2021年下半年營運展望 3

  5. Slide 5: 金控財務數字

    金控財務數字 稅後淨利 Net Income(NT$mn) (NT$mn) 每股盈餘 Earnings 1 (NT$) per Share 1 (NT$) +93.0% +81.4% 1.10 12,919 7,120 0.57 1H20 1H21 1H20 1H21 每股淨值 Book Value 1 (NT$)1 (NT$) per Share 股東權益報酬率 Return on Equity1 1(%) (%) 資產報酬率 Return (%)(%) on Assets 15.97 14.41 1.11 12.87 9.10 0.69 1H20 1H21 1H20 1H21 1H20 1

  6. Slide 6: 金控各子公司獲利表現

    金控各子公司獲利表現 NT$mn QoQ -18% QoQ-20% QoQ +89% 2Q21 %, 各子公司獲 未含一次性 % 利貢獻 4,858 8,438 銀行 82% 34% 436 185 15 3,580 2,944 證券 12% 5% 其他 6% 61% 銀行2Q21 銀行2Q21 證券 證券 其他 其他 金控單一 金控單一, 金控2Q20 金控 2Q21, 一次性 一次性項目 金控2Q21 金控 2Q21 子公司 子公司 調整後 (未含一次性) 調整後 (未含一次性) 項目 YoY +4% YoY +13% YoY +81% 1H21 各子公司獲 %, % 未含一次性 12,9

  7. Slide 7: 資本與風險指標

    資本與風險指標 金控資本適足率 銀行資本適足率 Tier 1 % 16.3% 15.9% 130.0% 15.1% 127.9% 126.9% 14.5% 14.5% 117.9% 119.4% 13.4% 13.1% 12.5% 11.8% 11.9% 2Q20 3Q20 4Q20 1Q21 2Q21 2Q20 3Q20 4Q20 1Q21 2Q21 2021/03 2021/06 2021/03 2021/06 逾放比率: 0.13% 0.12% 雙重槓桿比率: 118.0% 115.4% 覆蓋率: 966.1% 1084.9% 債股比率: 19.0% 20.1% 備呆/放款比率: 1.3

  8. Slide 8: 金控盈餘

    金控盈餘 NT$mn Better Worse 2Q21 vs. 1Q21 3 4,858 9,047 1 5,212 161 101 4,189 2 (606) (351) (56) (271) 1Q21 1Q21 Pretax 淨利息 NII 淨手續費 Net Fee 投資/ent/ Investm 其他 Others 營業費用 Expenses 淨提存 Provisions, 2Q21 2Q21 Pretax 一次性 One-tim e 2Q212Q21 Pretax 稅前盈餘 Earnings 收入 收入 e Incom 交易 Trading Net 稅前盈餘 Earnings, 項目

  9. Slide 9: 金控淨收益結構

    金控淨收益結構 金控淨收益結構 過去三年同期比較 1H21淨收益 : NT$23.1bn, YoY+6.3% NT$bn 2 YoY +5.0% 其他 3 Trading 1.1% YoY 投資/交易 11.3 +15.9% 7.2% 收入 10.7 16.1% 4 交易 9.6 YoY 10.4% -4.5% TMU 長投.1 7.9 5.0% TMU 3.2% 2.5% 6.8 6.8 5.6 淨利息 收入 3.9 3.7 YoY 48.8% -17.6% 淨手續費 收入 34.0% 0.22 0.31 0.26 1H19 1H20 1H21 1H19 1H20 1H21 1H19 1H2

  10. Slide 10: 金控淨手續費收入

    金控淨手續費收入 NT$mn 1 +15.9% 7,865 6,786 2,630 2,156 1,956 1,953 1,787 794 550 469 375 337 423 399 385 455 481 325 315 255 314 195 341 152160 153 126 177 167 181 185 108 2Q20 Wealth Management 2Q21 2Q20 Credit Card 2Q21 2Q20 Corporate Banking 2Q21 2Q20 Consumer Banking 2Q21 2Q20 Taishin Securities 2Q21 2

  11. Slide 11: 金控營業費用率

    金控營業費用率 NT$bn 營業收入 營業費用 23.1 21.8 11.8 12.0 12.0 11.1 13.3 10.4 12.3 6.6 7.0 6.5 6.8 6.2 2Q20 3Q20 4Q20 1Q21 2Q21 1H20 1H21 營業費用率 52.6% 54.8% 67.0% 54.2% 60.8% 56.7% 57.4% Note: The analysis is based on adjusted numbers excluding one-time items. 10

  12. Slide 12: 金控主要獲利因子

    金控主要獲利因子 NT$mn 金控淨利息收入 金控淨手續費收入 投資/交易及其他收入 QoQ: +2.9% QoQ: -14.3% QoQ: -18.5% YoY: +5.0% YoY: +15.9% YoY -5.5% 5,559 5,720 5,504 5,400 5,513 4,236 3,721 3,629 3,062 2,916 3,520 3,197 2,197 1,790 1,357 2Q20 3Q20 4Q20 1Q21 2Q21 2Q20 3Q20 4Q20 1Q21 2Q21 2Q20 3Q20 4Q20 1Q21 2Q21 金控營業費用 金控提存前稅前盈餘 QoQ: +4

  13. Slide 13: Agenda

    Agenda  2021年上半年金控財務數字  2021年上半年銀行獲利動能  2021年下半年營運展望 12

  14. Slide 14: 放款穩定成長

    放款穩定成長 NT$bn 2Q21 總放款餘額 : NT$1,341bn, QoQ +2.5%, YoY +9.8%, YTD +5.6% 620 598 567 541 551 317 321 328 305 315 232 234 236 238 239 84 85 86 86 89 60 61 64 65 65 Cor por at e Fir st M or t gages Hom e Equit y + Second M or t gage Unsecur ed O t her s 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 企

  15. Slide 15: 放款結構

    放款結構 產品別 幣別 1 其他 4.8% 消金無擔 6.7% 外幣放款 18.3% (YoY: +2.8%) 房屋加值型 房貸 17.8% 企業放款 46.2% 台幣放款 81.7% 購屋貸款 (YoY: +11.5%) 24.4% Note: 1. “Others” includes auto loans, second mortgages, retail SME, and other consumer products. 2. The numbers are presented as the end balance of 2Q21. 3. YoY : 2Q21 vs. 2Q20 14

  16. Slide 16: 法金授信及消金無擔放款明細

    法金授信及消金無擔放款明細 Corporate法金授信產業分布 Credit Composition Consumer Unsecured 消金無擔放款 Lending QoQ YoY 個人信貸 +4.6% +7.9% 信用卡1 +0.9% +1.5% 現金卡 -9.3% -31.7% 消金無擔放款 +4.1% +6.8% 其他 11.0% 科技 製造業 NT$bn 20.3% 37.8% 83.5 85.0 85.9 85.7 89.2 現金卡 金融& 0.6 0.7 0.7 0.6 投資業 0.8 10.4 18.8% 10.5 10.3 信用卡 10.2 10.4 非科技 17.5% 個

  17. Slide 17: 存款結構

    存款結構 存款結構 (%) 存放比(%) 1 NT$bn QoQ: +0.7% YoY: +7.6% 1,552 1,592 1,636 1,659 1,670 外幣 13.4% 13.0% 13.1% 活存 12.5% 11.3% 台幣 活存 79.7% 外幣 78.1% 78.3% 43.0% 43.9% 77.7% 45.4% 46.4% 47.5% 定存 77.1% 台幣 定存 14.1% 15.7% 14.0% 14.3% 13.9% 30.4% 29.0% 27.2% 26.3% 25.5% 2Q20 3Q20 4Q20 1Q21 2Q21 0.0 活存比 55.5% 55.2%

  18. Slide 18: 淨利差及存放利差

    淨利差及存放利差 淨利差 & 孳息資產均額 存放利差 整體放款利率 整體存款利率 淨利差% 整體存放利率 1.22% 1.13% 1.12% 1.13% 1.14%1 1.52% 1.44% 1.45% 1.45% 1.46% 孳息資產均額 (NT$bn) 2.12% 1.90% 1.87% 1.83% 1.80% 1,886 1,893 1,856 1,786 1,821 0.60% 0.46% 0.41% 0.38% 0.34% 2Q20 3Q20 4Q20 1Q21 2Q21 2Q20 3Q20 4Q20 1Q21 2Q21 Note: 1. If reclassifying swap

  19. Slide 19: 財富管理手續費收入

    財富管理手續費收入 財富管理手續費收入 (NT$mn) 財富管理手續費收入組合 (%) 信託,保管及其他 信託.保管及其他 結構型及證券商品 結構型及證券商品 基金 基金 保險 保險 1,956 2,156 1,953 2,630 1,787 69% 63% 64% 67% 69% 1,802 1,359 1,343 1,246 1,190 21% 25% 456 22% 24% 27% 485 642 423 480 13% 9% 271 7% 4% 140 172 117 55 3% 49 70 49 69 61 3% 3% 3% 3% 3% 2Q20 3Q20 4Q20 1Q21 2Q2

  20. Slide 20: 信用卡業務

    信用卡業務 收單家數 簽帳金額 NT$bn +4.2% +6.5% -11.0% +3.8% 160,372 172.7 153,943 159.5 144,565 153.6 2019.12 2020.12 2021.06 1H19 1H20 1H21 Note 1. Total spending excludes cash advance. 有效卡數 毛手續費收入 thousands NT$mn +0.8% +5.9% -14.1% +0.2% 4,016 4,049 3,794 3,439 2,956 2,961 2019.12 2020.12 2021.06 1H19 1H20 1H2

  21. Slide 21: 呆帳回收

    呆帳回收 QoQ : +35.6% NT$mn YoY : +9.9% 393 412 323 356 482 法金 95 182 74 45 8 個金 319 317 316 310 300 2Q20 3Q20 4Q20 1Q21 2Q21 Note: 1. YoY : 1H21 vs. 1H20 20

  22. Slide 22: 逾放比及覆蓋率

    逾放比及覆蓋率 逾放比% NPL% 備抵呆帳/放款比率% Reserv e toto Reserve loan% loan% 逾放金額NT$mn 逾放金額 NT$mn 備抵呆帳NT$mn 備抵呆帳 NT$mn 0. 60% 1.31% 1.31% 1.30% 1.30% 1.29% 0.18% 0.16% 0.15% 0.13% 0.12% 16,933 17,245 16,190 16,425 15,864 - 0. 40% 2,136 1,930 1,920 1,753 1,590 - 1. 40% - 1. 40% 2Q20 3Q20 4Q20 1Q21 2Q21 覆蓋率 % 742.6

  23. Slide 23: Agenda

    Agenda  2021年上半年金控財務數字  2021年上半年銀行獲利動能  2021年下半年營運展望 22

  24. Slide 24: 台新人壽

    台新人壽 資產配置 業務指標 (2021.06.30) NT$mn 1H21 NT$mn 金額 % 資產總額 201,821 負債總額 190,340 國內固定收益 99,812 59% 權益總額 11,481 保費收入 7,355 海外固定收益 43,540 26% 淨投資損益 1,795 本期淨(損)利 (64) 股票 13,217 8% 初年度保費收入 (FYP) 404 FYP市佔率 0.08% 保單貸款 7,166 4% 13個月年繳化保費收入繼續率 96.51% 保戶人數 229,056 其他 4,606 3% 有效契約件數 475,991 壽險顧問人數 556 總投資 168,3

  25. Slide 25: 2H21 vs. 1H21營運展望

    2H21 vs. 1H21營運展望  > +15% 業務 展望  +5% ~ +15% = -5% ~ +5% 消金放款 =  -5% ~ -15%  < -15% 消金擔保放款 =  購屋貸款 =  房屋加值型房貸 =  汽車貸款 = 消金無擔放款 = 企業放款 = 中小企業放款  財富管理  24

  26. Slide 26: APPENDIX

    APPENDIX 25

  27. Slide 27: Balance Sheet of Taishin Holding and its subsidiaries as of June 30, 2021

    Balance Sheet of Taishin Holding and its subsidiaries as of June 30, 2021 Taishin Bank Taishin Securities Others Holding & Other Taishin Holding NT$mn (Consolidated) (Consolidated) Subsidiaries Adjustments (Consolidated) Assets Cash & due from banks 106,237 962 3,454 (919) 109,734 Securities, net 55

  28. Slide 28: P&L of Taishin Holding and its subsidiaries for the period ended June 30, 2021

    P&L of Taishin Holding and its subsidiaries for the period ended June 30, 2021 Taishin Bank Taishin Securities Others Holding & Other Taishin Holding NT$mn (Consolidated) (Consolidated) Subsidiaries Adjustments (Consolidated) Operating income Net interest income 10,699 210 608 (238) 11,279 Net fee i

  29. Slide 29: Financial Summary – Taishin FHC (Consolidated)

    Financial Summary – Taishin FHC (Consolidated) NT$mn, except for percentages Full-Year Comparison YTD Comparison Quarterly Comparison Income Statement Data 2018 2019 2020 change 1H20 1H21 change 1Q21 3 2Q21 change Interest income 34,485 37,210 33,902 -8.9% 18,085 15,524 -14.2% 7,747 7,777 0.4% Inter

  30. Slide 30: Financial Summary – Taishin Bank

    Financial Summary – Taishin Bank NT$mn, except for percentages Full-Year Comparison YTD Comparison Quarterly Comparison Income Statement Data 2018 2019 2020 Change 1H20 1H21 Change 1Q21 2Q21 Change Interest income 32,773 35,420 32,084 -9.4% 17,243 14,431 -16.3% 7,215 7,216 0.0% Interest expense (13,

  31. Slide 31: Deposit Mix

    Deposit Mix 2Q21 2Q21 NT$bn 2Q20 3Q20 4Q20 1Q21 2Q21 % vs 1Q21 vs 2Q20 Current Deposits 861.4 879.3 961.4 984.0 1,012.1 60.6% 2.9% 17.5% • Checking 9.6 9.4 10.3 9.1 11.9 0.7% 30.0% 24.2% • Demand 172.8 197.6 210.3 213.8 224.9 13.5% 5.2% 30.1% • Current Savings 485.6 492.0 522.2 545.9 556.6 33.3% 2.0

  32. Slide 32: Loan Mix

    Loan Mix 2Q21 2Q21 NT$bn 2Q20 3Q20 4Q20 1Q21 2Q21 % vs 1Q21 vs 2Q20 Corporate Loans 540.8 550.5 566.5 597.8 619.9 46.2% 3.7% 14.6% Consumer Loans 680.3 694.6 703.0 709.5 720.6 53.8% 1.6% 5.9% • First Mortgage 305.4 314.5 316.9 321.0 327.7 24.4% 2.1% 7.3% • Home Equity 231.7 233.9 236.3 237.9 238.9 1

  33. Slide 33: NPL Ratios by Loan Book

    NPL Ratios by Loan Book Jun 20 Sep 20 Dec 20 Mar 21 Jun 21 Corporate Loan1 NPL %2 0.15% 0.14% 0.15% 0.12% 0.10% Consumer Loan1 NPL %2 0.20% 0.17% 0.15% 0.14% 0.14% - First Mortgage Loan NPL % 0.12% 0.10% 0.10% 0.09% 0.09% Consumer Default %3 0.01% 0.00% 0.00% 0.01% 0.04% Unsecured IDRP NPL % 10.13%

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