Sinopac Financial Holdings Co., Ltd. · TWSE:2890
Sinopac Financial — HSBC Taiwan Discovery Forum 2014
30 slides from Sinopac Financial's conference presentation, Nov 7, 2014
Slide 1: HSBC Taiwan Discovery Forum
HSBC Taiwan Discovery Forum Singapore November 7th, 2014
Slide 2: Disclaimer
Disclaimer This presentation and the presentation materials distributed herewith may include forward-looking statements. 2014/3Q financial data are preliminary. All statements, other than statements of historical facts, that address activities, events or developments that SinoPac Financial Holdings
Slide 3: Agenda
Agenda • 金控整體營運摘要 (p. 2~ p. 3) -不動產貸款、購置住宅及修繕佔銀行總放款集中度(p. 3) • 財務概況 (p. 4~ p. 6) - 金控Financial Highlights (p. 4) - 銀行Financial Highlights (p. 5) - 證券Financial Highlights (p. 6) • 金控獲利分析 (p. 7~ p. 15) - 金控子公司獲利貢獻 (p. 7) - 金控獲利-跨期比較 (p. 8) - 金控淨收益趨勢 (p. 9) - 銀行NIM & Spread (p. 10) - 銀行放款結構分析 (p. 11) -
Slide 4: 金控整體營運摘要
一、金控整體營運摘要 營運獲利表現平穩，稅後權益報酬率(ROAE) 13.21% 3Q淨收益NT$8,627Mn，QoQ -30.0%；前三季淨收益NT$30,295Mn，YoY +25.1% 3Q稅前淨利NT$4,386Mn，QoQ -9.9%；前三季稅前淨利NT$13,538Mn，YoY +37.9% 3Q稅後淨利NT$3,970Mn，QoQ -6.5%；前三季稅後淨利NT$11,170Mn，YoY +34.1% 淨利息及淨手續費收益保持成長，業務穩定發展 3Q利息淨收益NT$4,675Mn(54%)，QoQ +2.8%；前三季利息淨收益NT$13,619Mn，YoY +1
Slide 5: 不動產貸款、購置住宅及修繕佔銀行總放款集中度
不動產貸款、購置住宅及修繕佔銀行總放款集中度 Industry average BSP 39.6% 39.0% 38.5% 37.7% 37.2% 36.8% 36.9% 36.5% 35.9% 35.5% 34.2% 34.2% 34.1% 34.2% (August) 34.0% 34.0% 33.9% 33.9% 34.0% 33.9% 33.7% 33.7% 33.6% 33.3% 33.5% 33.2% 33.5% 33.3% 2011/2Q 3Q 4Q 2012/1Q 2Q 3Q 4Q 2013/1Q 2Q 3Q 4Q 2014/1Q 2Q 3Q Source: BSP and C
Slide 6: 金控Financial Highlights
二、金控Financial Highlights NT$Mn； 2011 2012 2013 2014/1~9M YoY 2014/3Q 2014/2Q QoQ Mn Shares 股本 73,112 75,683 82,077 88,709 8.1% 88,709 88,709 0.0% 流通股數 7,311 7,568 8,208 8,871 8.1% 8,871 8,208 8.1% 權益 90,089 97,727 108,507 116,557 11% 116,557 112,718 3.4% 總資產 1,299,962 1,365,709 1,465,945 1,509,241 5
Slide 7: 銀行Financial Highlights
銀行Financial Highlights NT$Mn 2011 2012 2013 2014/1~9M YoY 2014/3Q 2014/2Q QoQ 股本 52,574 53,862 59,616 59,616 0.0% 59,616 59,616 0.0% 權益 70,545 78,251 87,552 97,430 14% 97,430 93,989 3.7% 總資產 1,215,534 1,266,443 1,357,033 1,378,113 4.0% 1,378,113 1,397,501 -1.4% PPOP 7,167 9,325 12,950 13,718 40% 2,9
Slide 8: 證券Financial Highlights
證券Financial Highlights NT$Mn 2011 2012 2013 2014/1-9M YoY 2014/3Q 2014/2Q QoQ 股本 15,365 15,365 16,212 16,212 0.00% 16,212 16,212 0.00% 淨值 22,185 22,759 23,834 24,660 5.65% 24,660 24,264 1.63% 總資產 72,760 82,272 88,908 109,275 26% 109,275 102,747 6.35% 資本利得 -753 974 841 163 -60% -171 43 -498% 穩定性收入 5,
Slide 9: 金控各子公司獲利貢獻
三、金控各子公司獲利貢獻 NT$Mn 7.8% 2014/3Q 9.7% 其他 證券 316 4,033 3,970 銀行 389 3,328 -63 82.5% 銀行 證券 其他 長投收益合計 金控淨支出 金控稅後淨利 (+/-) -412 2 133 -277 2 -275 收益佔比 QoQ 11% 1% 73% 6% 3% 6% 5.3% 10.0% 其他 2014/1~9M 證券 603 11,374 11,170 84.7% 9,631 1,140 銀行 -203 銀行 證券 其他 長投收益合計 金控淨支出 金控稅後淨利 (+/-) 1,844 610 127 2,581 256 2
Slide 10: 金控獲利比較
金控獲利比較 NT$Mn 2014/3Q 8,627 -5,041 800 4,386 -416 3,970 淨收益 營業費用 提存 稅前淨利 所得稅 淨利 (+/-) -3,694 123 3,088 -482 207 -275 QoQ 30% 2% 135% 10% 33% 6% 30,295 2014/1~9M -14,915 -1,842 13,538 -2,368 11,170 淨收益 營業費用 提存 稅前淨利 所得稅 淨利 (+/-) 6,076 -1,261 -1,093 3,722 -884 2,837 YoY 25% 9% NA 38% 60% 34% Note1： ：bet
Slide 11: 金控淨收益趨勢
金控淨收益趨勢 12,321 NT$Mn Quarterly 9,347 8,713 8,627 8,213 利息淨收益 手續費淨收益 5,393 4,548 4,675 4,250 4,396 4,079 其他 2,487 2,715 2,233 2,379 2,074 2,464 2,060 2,230 淨收益 1,237 2013/3Q 2013/4Q 2014/1Q 2014/2Q 2014/3Q Year-to-date 30,295 Yearly 39,008 24,219 32,932 28,171 17,869 13,619 16,099 15,240 11,850 9,094
Slide 12: 銀行NIM & Spread
銀行NIM & Spread Interest earning assets & Net interest income NIM & Spread NT$Mn Interest earning assets NII Spread NIM Loan Deposit 1,295,504 1,242,916 2.46% 2.48% 2.43% 2.42% 2.46% 4,135 4,236 4,019 3,894 3,756 1.63% 1.60% 1.58% 1.57% 1.55% 1.30% 1.22% 1.25% 1.27% 1.20% 0.92% 0.91% 0.89% 0.80% 0.83
Slide 13: 銀行放款結構分析
銀行放款結構分析 NT$Mn NT$Mn 2013 2014/3Q YTD 總放款 829,030 814,570 -1.7% 2014/3Q 437,530 429,577 421,987 421,535 消金, 2.9% 中小企業, 409,715 18.3% 369,843 383,295 369,824 369,401 358,922 366,104 367,717 個金, 大 295,518 45.3% 型 290,493 270,428 企 265,808 280,105 大型企業 272,831 業 33.5% Non- SME 中 148,704 小 139,287 142,0
Slide 14: 銀行存款結構分析
銀行存款結構分析 Total Deposits RMB Deposit NT$Mn RMB$Mn 台幣活存 外幣活存 外幣定存 台幣定存 18,725 -2.2% -1% 1,005,286 1,038,108 1,100,916 1,150,090 1,124,978 1,100,543 16,644 16,452 42.1% 40.4% 40.8% 38.5% 12,533 49.6% 49.1% 9,803 16.5% 14.4% 17.3% 16.5% 8.2% 7.3% 12.2% 11.9% 12.6% 11.2% 11.6% 11.7% 活存比 45.0% 31.0% 31.5%
Slide 15: 金控手續費收入組合
金控手續費收入組合 NT$Mn 2013/3Q 2013/4Q 2014/1Q 2014/2Q 2014/3Q 手續費合計 2,715 2,487 手續費占比 2,379 2,233 2,074 1,261 32% 證券 1,004 973 外匯與其他 902 7% 844 871 815 834 828 7% 放款 690 7% 信用卡 46% 財富管理 221 210 199 210 201 187 203 189 193 204 190 192 177 160 131 2014/3Q 財富管理 信用卡 放款 外匯與其他 證券 Note: numbers are presented on
Slide 16: 金控營業費用分析
金控營業費用分析 NT$Mn Quarterly 55% 55% 58% 50% 12,321 42% 淨收益 9,347 8,713 8,627 8,213 營業費用 4,802 5,164 5,041 4,505 4,710 C/I Ratio 2013/3Q 2013/4Q 2014/1Q 2014/2Q 2014/3Q Year-to-date 30,295 Yearly 56% 62% 39,008 24,219 56% 49% 32,932 51% 28,171 14,915 13,654 19,717 18,456 17,414 2013/1~9M 2014/1~9M 2012
Slide 17: 銀行放款資產品質
銀行放款資產品質 NT$Mn 20,000 逾放餘額 備抵餘額 逾放比 備抵呆帳覆蓋率 1.20% 700.00% 19,000 645.33% 18,000 600.00% 17,000 500.00% 392.51% 16,000 400.00% 305.11% 313.89% 15,000 249.19% 300.00% 14,000 200.00% 13,000 100.00% 11,468 12,000 11,318 0.00% 0.44% 11,000 0.37% 0.37% 0.36% 10,000 9,126 9,336 8,729 0.22% 9,000 8,000 7,00
Slide 18: SPH's Balance Sheet (Consolidated) - IFRS Pro Forma
Appendix 1/13 SPH's Balance Sheet (Consolidated) - IFRS Pro Forma NT$ Mn Yearly Results Quarterly Results 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 QoQ(%) YoY(%) YTD(%) Assets: Cash and cash equivalents 21,464 36,441 28,074 36,441 42,037 22,536 24,443 8.46 -12.93 -32.92 Due from the central bank and call l
Slide 19: Balance Sheet of SPH and its subsidiaries
Appendix 2/13 Balance Sheet of SPH and its subsidiaries for the 9 months ended Sep. 30, 2014 NT$Mn BSP SPS Trust Leasing Others Sum Adj. Items SPH (Consoliated) (Consolidated) (Consolidated) (Consolidated) Assets: Cash and cash equivalents 17,964 8,557 206 370 733 27,830 -3,387 24,443 Due from the c
Slide 20: SPH's P&L (Consolidated) - IFRS
Appendix 3/13 SPH's P&L (Consolidated) - IFRS NT$ Mn Yearly Results Quarterly Results YTD Results 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 QoQ(%) YoY(%) 9M13 9M14 YoY(%) Interest revenue 25,243 26,820 6,774 7,076 7,515 7,896 7,872 -0.29 16.21 19,744 23,283 17.93 Interest expense 10,003 10,721 2,695 2,827
Slide 21: P&L of SPH and its subsidiaries
Appendix 4/13 P&L of SPH and its subsidiaries for the 9 months ended Sep. 30, 2014 NT$Mn BSP SPS Trust Leasing Others Sum Adj. Items SPH (Consoliated) (Consolidated) (Consolidated) (Consolidated) Interest revenue 21,480 980 7 869 4 23,340 -57 23,283 Interest expense 9,090 283 2 247 100 9,721 -57 9,6
Slide 22: BSP's Balance Sheet (Consolidated) - IFRS
Appendix 5/13 BSP's Balance Sheet (Consolidated) - IFRS NT$Mn Yearly Results Quarterly Results 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 QoQ(%) YoY(%) YTD(%) Assets Cash and cash equivalents 19,132 34,215 26,087 34,215 39,846 19,914 17,964 -9.79 -31.14 -47.50 Due from the central bank and call loans to ban
Slide 23: BSP's P&L (Consolidated) - IFRS
Appendix 6/13 BSP's P&L (Consolidated) - IFRS NT$ Mn Yearly Results Quarterly Results YTD Results 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 QoQ(%) YoY(%) 9M13 9M14 YoY(%) Interest revenue 23,663 24,994 6,312 6,561 6,960 7,287 7,232 -0.75 14.58 18,432 21,480 16.53 Interest expense 9,401 10,120 2,556 2,667 2
Slide 24: SPS's Balance Sheet (Consolidated)-IFRS Pro Forma
Appendix 7/13 SPS's Balance Sheet (Consolidated)-IFRS Pro Forma 4Q12 4Q13 NT$Mn Yearly Results Quarterly Results YTD Results 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 QoQ(%) YoY(%) YTD(%) Assets: Current assets 76,340 83,050 81,125 83,050 87,901 97,017 103,594 6.78 27.70 24.74 Cash and cash equivalents 2,8
Slide 25: SPS's P&L (Consolidated)-IFRS Pro Forma
Appendix 8/13 SPS's P&L (Consolidated)-IFRS Pro Forma NT$Mn Yearly Results Quarterly Results YTD Results 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 QoQ(%) YoY(%) 9M13 9M14 YoY(%) Net interest income 877 886 258 200 316 334 356 6.59 37.98 686 1,005 46.50 Net fee income 2,828 2,844 713 851 925 856 882 3.04 23
Slide 26: BSP's Loan Breakdown (Consolidated)
Appendix 9/13 BSP's Loan Breakdown (Consolidated) NT$Mn Yearly Results Quarterly Results Items 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 QoQ(%) YoY(%) YTD(%) Corporate loans Manufacturing 178,409 189,247 168,450 189,247 181,112 174,353 176,791 1.40 4.95 -6.58 Electronics Indusrty 78,823 81,554 68,685 81,55
Slide 27: BSP's Loan Asset Quality
Appendix 10/13 BSP's Loan Asset Quality NT$Mn Yearly Results Quarterly Results YTD Results 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 QoQ(%) YoY(%) 9M13 9M14 YoY(%) NPL 90-days NPLs - beginning 5,081 2,673 2,403 3,503 2,991 2,974 2,922 -1.76 21.57 2,673 2,991 11.92 New NPL influx 2,618 4,256 2,449 840 427 2
Slide 28: BSP's Fee Breakdown (Consolidated)
Appendix 11/13 BSP's Fee Breakdown (Consolidated) NT$Mn Yearly Results Quarterly Results YTD Results 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 QoQ(%) YoY(%) 9M13 9M14 YoY(%) Wealth management 2,845 3,526 815 834 973 1,004 1,261 25.68 54.79 2,691 3,237 20.29 Mutual funds 1,165 1,652 385 370 511 514 526 2.27
Slide 29: BSP's Credit Card Business
Appendix 12/13 BSP's Credit Card Business NT$Mn Yearly Results Quarterly Results YTD Results 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 QoQ(%) YoY(%) 9M13 9M14 YoY(%) Credit card business Cards in force(thousand) 2,248 2,137 2,124 2,137 2,151 2,164 2,164 0.01% 1.89% 2,124 2,164 1.89% Active cards(thousand)
Slide 30: FENB Summary Ratios
Appendix 13/13 FENB Summary Ratios US$mn Yearly Results Quarterly Results YTD Results 2012 2013 3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14 Net income after tax 26 7 1 1 1 0 2 6 4 Total assets 1,133 1,319 1,323 1319 1368 1,427 1,397 1,323 1,397 Total equity 318 321 320 321 323 306 308 320 308 Total deposits
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