E.SUN FHC
Financial Review of 1Q 2024
May 2024
- 2024 1Q Financial Performance
- 2024 1Q Business Operation Overview
- Appendix
E.SUN FHC Summary
Unit : NT$ million | |||
2024.03/1 | 2023.12/2 | ||
FHC | 3,737,092 | 3,638,498 | |
Total Assets | Bank | 3,700,223 | 3,608,639 |
Securities | 32,366 | 24,801 | |
Venture Capital | 6,356 | 6,110 | |
Book value per share (NT$) | 15.66 | 15.08 | |
Key Financials | |||
Double Leverage Ratio | 102.73% | 102.92% | |
FHC CAR | 140.42%/2 | 140.42% | |
Bank - domestic | 139 | 139 |
Channels | Oversea channels |
Branch: HK, LA, Singapore, Vietnam, Myanmar, Tokyo, Fukuoka, Sydney, Brisbane
Subsidiary: China and Cambodia (UCB) Rep office in Hanoi, HCM City, and Bangkok 31 overseas sites
Securities - branches | 17 | 17 |
Note: 1. Preliminary figures of Mar 2024 2. Audit figures of 2023
3. Share owned by QFII: 31.48%, as of Mar 31, 2024
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1Q24 Business and Financial Review
Financial Performance
- For 1Q24, net revenue of FHC was NT $17.5 billion (+10.7%); net profit was 6.25 billion (+3.4%) and set record high for profit of single quarter. (yoy)
- FHC reported EPS NT $0.4, ROE 10.38%, and ROA 0.68%。
- E.SUN Bank reported net profit of NT$5.64 billion (+2.6%), E.SUN Securities' net profit was NT $ 460 million, E.SUN Venture Capital was NT $240 million.
Business Development
- By the end of 1Q, loan balance grew by 9.5%, in which corporate loan grew by 8.6%, SME loan grew by 11.8%; retail loan grew by 10.5%, and deposit grew by 8.2%. (yoy)
- The quarterly net fee income was NT $6.24 billion (+26.2%), WM net fee income was NT $2.98 billion (+34.7%), both were record high of any single quarter. Credit card fee was NT $1.76 billion (+7.1%). (yoy)
- Asset quality was benign, NPL ratio at 0.16% and coverage ratio at 770.9%。
Business Highlights
- Dividend: The board has made a resolution to pay cash dividend NT$1.2 per share, and stock dividend NT $0.2 per share. The resolution is subject to approval by the AGM.
- Honors and recognitions: E.SUN Bank is awarded with "Best Bank in Taiwan" by Global Finance and Forbes. This is the fourth consecutive year for E.SUN to be recognized by Forbes.
- Banking awards: E.SUN Bank is awarded by the Credit Guarantee Fund for 19 years in a row, and is recognized as "Best SME Bank in Taiwan" by The Asset for the 12th consecutive year.
- ESG: E.SUN FHC earned the First Prize in Global View ESG Award. E.SUN and its subsidiaries are the biggest winners of the award; Besides, E.SUN is rated top 5% in CG assessment by TWSE for the ninth time.
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Financial Performance
Net Profit | EPS | ||||||||
Unit: NT$ million | Unit: NT$ dollars | ||||||||
20,559 | 21,760 | 1.43 | 1.54 | 1.41 | |||||
18,027 | |||||||||
15,759 | |||||||||
1.10 | |||||||||
6,250 | 0.4 | ||||||||
2020 | 2021 | 2022 | 2023 | 3M24 | 2020 | 2021 | 2022 | 2023 | 3M24 |
ROE | ROA |
10.17% | 10.95% | 10.05% | 10.38% | 0.66% | 0.66% | 0.61% | 0.68% |
8.06% | 0.47% |
2020 | 2021 | 2022 | 2023 | 3M24 | 2020 | 2021 | 2022 | 2023 | 3M24 |
Note: Preliminary figures of Mar 2024
3
Net Income of FHC & its Subsidiaries
Contribution by Subsidiaries
Net Income of FHC and its Subsidiaries
Unit: NT$ million
Bank
88.9%
Securities
5,643.1
5,498.3
3M23 3M24
6,042.2 6,253.4
7.3%
VC
3.8%
285.5 464.1
341.2 239.4
Note: Preliminary figures of Mar 2024
Bank | Securities | VC | FHC |
4
Net Profit Breakdown
3M24 P&L
17,485 (9,380)
(371) (1,481)
Unit: NT$ million
6,250
Net Revenue | Operating | Net Provision | Income Tax | |
Expense | ||||
+10.7% | +13.5% | |||
3M23 P&L | 15,800 | (8,266) |
2(1,489)
Net Revenue Operating Net Provision Income Tax
Expense
Note: Preliminary figures of Mar 2024
Net Profit
+3.4%
6,042
Net Profit
5
FHC Revenue Breakdown
Total Net Revenue
NT$ 17,480 million
Net Fee Income
35.7%
Net Interest
Income
44.7%
Fixed
Income, FX
& Others
19.6%
Note: Preliminary figures of Mar 2024
YoY Comparison
Unit: NT$ million
+18.0% YoY | 3M23 |
7,819 | 3M24 |
+26.2% YoY
6,6246,239
4,943
4,233
3,427
Net Interest Income | Net Fee Income | Fixed Income, FX & |
Others |
6
Net Fee Income Breakdown
Total Net Fee Income
NT$ 6,239 million
Consumer | Corporate | |
Banking | Banking | Brokerage & |
9.5% | ||
1.3% | others | |
Wealth | 13.2% | |
Management | ||
47.8% |
Credit Card
28.2%
Note: Preliminary figures of Mar 2024
YoY Comparison
Unit: NT$ million
+7.1% YoY | +34.7% YoY |
2,981
2,213
1,641 1,758
597 | ||||
478 | ||||
63 | 74 | |||
Credit Card | Wealth | Consumer | Corporate | |
Management | Banking | Banking |
3M23 3M24
829
548
Brokerage
& Others
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