Taichung Commercial Bank Co., Ltd. · TWSE:2812
Taichung Commercial Bank — FY2014 Earnings Presentation
18 slides from Taichung Commercial Bank's earnings presentation, Mar 20, 2015
Slide 1: Taichung Commercial Bank Financial Review of 2014
OBA Taichung Commercial Bank Financial Review of 2014 2015.3.20
Slide 2: Disclaimer
Disclaimer Financial numbers in this report may include preliminary unaudited numbers or management accounts. 1
Slide 3: Profitability
Profitability(NT$ Million, NT$,%) Retroactively adjusted EPS Net Profit YoY +22% 1.32 1.06 1.16 3,719 2,804 3,060 EPS(after tax) 1.32 1.20 1.23 2012(IFRS) 2013 2014 2012 2013 2014 ROE(after tax) ROA(after tax) ROC GAAP IFRS ROC GAAP IFRS 0.73% 10.38% 10.55% 10.38% 11.11% 0.67% 0.68% 0.65% 6.48% 0.40
Slide 4: Capital adequacy
Capital adequacy(%) Consolidated Tier 1 Capital Ratio (=Common Equity Tier 1 Ratio) 11.91% 11.64% 10.86% 2.15 3.26 2.54 8.71 8.65 9.10 2012 2013 2014 Individual Tier 1 Capital Ratio (=Common Equity Tier 1 Ratio) 11.37% 10.84% 10.54% 1.97 2.95 2.06 8.57 8.42 8.78 2012 2013 2014 3
Slide 5: Revenue breakdown
Revenue breakdown(NT$ Million, %) YoY YoY YoY YoY +13.5% +17.0% +15.1% +56.6% Net interest 1,879 income 1,854 1,740 1,689 68% 67% 1,675 Net fee 4Q/13 income 1Q/14 Gain on 2Q/14 reversal of impairmen 19% 19% t loss 3Q/14 Others 10% 10% 506 574 518 4Q/14 518 503 482 464 3% 4% 2013 2014 164 175 65 134
Slide 6: Loan breakdown
Loan breakdown(NT$ Hundred Million, %) YoY YoY YoY YoY YoY YoY +8.1% +9.3% +0.4% -5.0% +8.1% -5.9% Other personal loan 1,612 30% 31% 1,578 Consumption 1,560 1,495 4Q/13 loan 1,491 9% 8% Corporate 1Q/14 1,1721,214 1,148 1,1111,112 2Q/14 SME 41% 42% 3Q/14 OBU 4Q/14 5% 5% 562559 Mortgage 555 559 557 15
Slide 7: Deposit breakdown
Deposit breakdown(NT$ Hundred Million,%) Time Loan-to-deposit ratio deposits(forei 86.68% 86.75% gn currency) 85.47% 84.51% 85.49% YoY 4.67% +6.1% Time deposits (foreign currency) 4,415 4,560 4,297 4,364 4,368 213 56.62% 136 164 170 201 Demand deposits 113 123 (foreign currency) 103 99 114 Checking
Slide 8: Net interest margin and interest-bearing asset
Net interest margin and interest-bearing asset (NT$ Hundred Million,%) NIM NIM 1.34 1.33% 1.34% 1.30 % 1.30% 1.31% % Average interest-bearing asset Average interest-bearing asset QoQ +0.7% Loan +323 YoY +9.3% NCD +41 4,952 CP +37 4,952 4,917 4,531 4,884 4,827 1Q/14 2Q/14 3Q/14 4Q/14 2013 2014 7
Slide 9: Fee breakdown
Fee breakdown(NT$ Million,%) 2,484 83 Security YoY YoY YoY YoY YoY YoY Brokerage +32.3% +26.0% +9.4% +2.5% +2.4% +45.6% 2,019 57 Insurance Brokerage 1,139 318 861 Trust 283 274 4Q/13 264 230 1Q/14 Loans 605 2Q/14 480 Others 158155 151 3Q/14 134 141 297 325 4Q/14 203 Foreign 198 exchange 89 83 busine
Slide 10: Cost-to-income ratio
Cost-to-income ratio(NT$ Million,%) Cost-to-income ratio 38.8% 40.4% 47.6% 43.5% 38.1% Operating income Operating expenses 926 1,105 1,030 1,167 1,230 2,429 2,845 2,370 2,454 3,045 4Q/13 1Q/14 2Q/14 3Q/14 4Q/14 9
Slide 11: Asset quality
Asset quality(NT$ Million,%) NPLs/Total Loans Reserve/Total Loans 1.42% 1.32% 1.27% 1.23% 1.22% 0.58% 0.44% 0.46% 0.40% 0.34% Reserve/NPLs 423.62% 298.55% 316.16% 265.67% 209.71% NPLs 2,126 1,767 Loan Reserve 1,630 1,516 5,526 1,305 4,868 4,794 4,694 4,458 Dec 13 Mar 14 Jun 14 Sep 14 Dec 14 Dec 13 M
Slide 12: Summary ratios
Summary ratios Yearly Results YoY 2012(ROC) 2013 2014 (2014 V.S. 2013) Per Share Data EPS (after-tax) (NT$) 1.20 1.23 1.32 7.32% DPS (NT$) 0.825 0.777 【note】 0.89 14.54% BVPS (NT$) 12.11 12.25 12.59 2.78% Common shares 2,319 2,535 2,852 12.50% outstanding(million share) Profitability ROA (after-tax)
Slide 13: Summary ratios (continued)
Summary ratios (continued) Yearly Results YoY 2012(ROC) 2013 2014 (2014 V.S. 2013) Bank Growth Ratios NII Growth 10.84% 15.09% 13.50% -1.59% Fee growth 34.25% 27.87% 17.03% -10.84% Net profit growth 91.06% 9.13% 21.53% 12.40% Bank Performance Ratios Loan growth 16.60% 12.22% 6.13% -6.09% Deposit gro
Slide 14: Balance sheet (Consolidated)
Balance sheet (Consolidated) Yearly Results YoY NT$ million 2012(ROC) 2013 2014 (2014 V.S. 2013) Assets： Cash and due from banks 77,017 81,087 91,867 13.29% Financial investment, net 33,848 39,284 36,687 -6.61% Loans, net 324,029 362,917 384,382 5.91% A/R, net 3,565 6,486 8,119 25.18% LT investments
Slide 15: P&L (Consolidated)
P&L (Consolidated) Yearly Results YoY 2012(ROC) 2013 2014 (2014 V.S. 2013) NT$ million Operating income Net interest income 5,480 6,310 7,162 13.5% Net fee income 1,388 1,775 2,077 17.0% LT investment income (1) 10 0 -96.0% Net trading income/(loss) 265 151 97 -35.8% Asset impairment loss or (2) 893
Slide 16: Credit risk analysis
Credit risk analysis Yearly Res ults YoY NT $ million 2012 2013 2014 (2014 V.S. 2013) By Indus try Pers onal loans 149,241 169,346 180,027 6.31% Manufacturer 73,539 79,562 79,373 -0.24% Commerce 51,880 58,154 58,571 0.72% Real es tate 25,538 34,927 47,367 35.62% Cons truction indus try 11,427 11,626
Slide 17: Deposit breakdown
Deposit breakdown Yearly Results YoY NT $ million 2012 2013 2014 (2014 V.S. 2013) Checking、 demand & savings Checking & demand deposits 75,617 95,990 105,617 10.03% Saving deposits 88,448 96,755 103,339 6.80% Sub-total 164,065 192,745 208,956 8.41% Time & savings Time deposits (incl. CD) 75,073 80,3
Slide 18: Net interest income & fee income
Net interest income & fee income NII Breakdown Yearly Results YoY 2012(ROC) 2013 2014 (2014 V.S. 2013) NT$ million Loan interest 7,771 8,765 9,655 10.15% Other interest 856 1,152 1,461 26.82% Interest expense (3,147) (3,607) (3,954) 9.62% Net interest income 5,480 6,310 7,162 13.50% Fee Breakdown Ye
Taichung Commercial Bank — FY2014 Earnings Presentation on 6ix