Far Eastern International BankTWSE: 2845

Consolidated Financial Statements for the Three Months Ended March 31, 2025

Jul 24, 2025 at 9:55 AM UTC · Issued by Far Eastern International Bank

Far Eastern International Bank Ltd. and Subsidiaries

Consolidated Financial Statements for the

Three Months Ended March 31, 2025 and 2024 and Independent Auditors' Review Report

Deloitte.

INDEPENDENT AUDITORS' REVIEW REPORT

110421 @ 3LW{ @ {E@100§ 20t6

Deloitte & Touche

20F, Taipei Nan Shan Plaza No. 100, Songren Rd.,

Xinyi Dist., Taipei 110421, Taiwan

Tel :+886 (2) 2725-9988

Fax:+886 (2) 4051-6888

https://www.deloitte.com.tw

The Board of Directors and Shareholders Far Eastern International Bank Ltd.

Introduction

We have reviewed the accompanying consolidated balance sheets of Far Eastern International Bank Ltd. and its subsidiaries as of March 31, 2025 and 2024, and the related consolidated statements of comprehensive income, the consolidated statements of changes in equity and cash flows for the three months then ended, and the related notes to the consolidated financial statements, including material accounting policy information (collectively referred to as the "consolidated financial statements"). Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Public Banks, and International Accounting Standard 34 "Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews.

Scope of Review

We conducted our reviews in accordance with the Standards on Review Engagements of the Republic of China 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our reviews, nothing has come to our attention that caused us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of Far Eastern International Bank Ltd. and its subsidiaries as of March 31, 2025 and 2024, and of its consolidated financial performance and its consolidated cash flows for the three months ended March 31, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Public Banks, and International Accounting Standard 34 "Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

The engagement partners on the reviews resulting in this independent auditors' review report are Chun-Hung Chen and Chen-Hsiu Yang.

Deloitte & Touche Taipei, Taiwan Republic of China

May 5, 2025

Notice to Readers

The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to review such consolidated financial statements are those generally applied in the Republic of China.

For the convenience of readers, the independent auditors' review report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors' review report and consolidated financial statements shall prevail.

FAR EASTERN INTERNATIONAL BANK LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In Thousands of New Taiwan Dollars) March 31, 2025 December 31, 2024 March 31, 2024

ASSETS	Amount	%	Amount	%	Amount	%
ASSETS
Cash and cash equivalents (Notes 6 and 38)	$ 5,657,938	1	$ 20,587,193	3	$ 6,544,260	1
Due from the Central Bank and other banks, net (Notes 7 and 38)	48,653,534	6	43,705,701	5	50,282,746	6
Financial assets at fair value through profit or loss (Notes 8, 38, 42 and 43)	60,571,558	7	53,134,114	6	41,871,836	5
Financial assets at fair value through other comprehensive income (Notes 9, 11,
21, 28, 39, 42 and 43)	56,715,501	7	59,536,214	7	65,109,654	8
Investment in debt instruments at amortized cost, net (Notes 10, 11, 21, 39, 42
and 43)	146,112,468	17	146,215,199	17	127,156,636	16
Securities purchased under resale agreements, net (Notes 12 and 43)	3,263,763	-	3,434,968	1	3,359,331	-
Receivables, net (Notes 13 and 43)	17,820,916	2	18,553,830	2	19,587,981	3
Discounts and loans, net (Notes 14, 38 and 43)	495,728,943	58	488,805,319	57	475,340,345	59
Investment accounted for using equity method (Notes 15 and 28)	2,854,153	-	2,783,101	-	2,769,096	-
Other financial assets, net (Notes 16 and 39)	8,472,472	1	8,636,128	1	7,459,335	1
Property and equipment, net (Note 17)	5,193,806	1	5,195,387	1	5,153,848	1
Right-of-use assets, net (Notes 18 and 38)	884,143	-	903,588	-	1,118,205	-
Intangible assets, net (Note 19)	1,540,334	-	1,546,704	-	1,565,817	-
Deferred tax assets (Note 4)	149,728	-	71,137	-	126,791	-
Other assets	389,156	-	354,467	-	402,021	-
TOTAL	$ 854,008,413	100	$ 853,463,050	100	$ 807,847,902	100
LIABILITIES AND EQUITY
LIABILITIES
Due to the Central Bank and other banks (Notes 20 and 43)	$ 2,805,946	1	$ 2,851,990	1	$ 594,988	-
Funds borrowed from the Central Bank and other banks (Notes 43 and 45)	2,577,333	-	1,163,333	-	400,000	-
Financial liabilities at fair value through profit or loss (Notes 8, 38, 42 and 43)	8,072,797	1	8,729,116	1	8,850,582	1
Securities sold under repurchase agreements (Notes 9, 10, 21, 43 and 45)	-	-	2,643,625	-	1,123,671	-
Payables (Notes 22 and 43)	7,800,857	1	15,328,617	2	6,517,093	1
Current tax liabilities (Note 4)	284,805	-	138,082	-	252,967	-
Deposits and remittances (Notes 23, 38 and 43)	699,183,308	82	698,869,200	82	671,474,249	83
Bank debentures (Notes 24, 42, 43 and 45)	22,901,900	3	16,901,900	2	14,401,900	2
Principal received on structured products (Note 43)	44,402,573	5	42,347,489	5	39,588,294	5
Other financial liabilities (Notes 25, 43 and 45)	1,402,411	-	1,229,329	-	1,771,081	1
Provisions (Notes 26 and 38)	612,133	-	629,812	-	667,187	-
Lease liabilities (Notes 18, 38, 43 and 45)	897,100	-	924,169	-	1,130,909	-
Other liabilities (Note 4)	666,226	-	456,599	-	548,963	-
Total liabilities	791,607,389	93	792,213,261	93	747,321,884	93
EQUITY ATTRIBUTABLE TO OWNERS OF THE BANK (Notes 9, 15 and 28) Share capital	42,753,997	5	42,753,997	5	40,694,838	5
Capital surplus	302,926	-	302,926	-	302,926	-
Retained earnings
Legal reserve	13,510,272	1	13,510,272	2	12,304,518	1
Special reserve	164,485	-	164,485	-	1,711,795	-
Unappropriated earnings	5,657,547	1	4,596,441	-	5,260,717	1
Total retained earnings	19,332,304	2	18,271,198	2	19,277,030	2
Other equity	11,797	-	(78,332)	-	251,224	-
Total equity	62,401,024	7	61,249,789	7	60,526,018	7
TOTAL	$ 854,008,413	100	$ 853,463,050	100	$ 807,847,902	100

The accompanying notes are an integral part of the consolidated financial statements.

- 3 -

FAR EASTERN INTERNATIONAL BANK LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

For the Three Months Ended March 31

Percentage Increase 2025 2024 (Decrease) Amount % Amount % %

INTEREST REVENUES (Notes 29

and 38) $ 4,955,139 155 $ 4,715,890 142 5

INTEREST EXPENSES (Notes 18, 29
and 38)	3,390,946	106	3,234,742	97	5
NET INTERESTS	1,564,193	49	1,481,148	45	6
NET REVENUES AND GAINS OTHER
THAN INTEREST
Net service fee income (Notes 30
and 38)	764,537	24	794,740	24	(4)
Gain on financial assets and liabilities
at fair value through profit or loss
(Notes 31, 38 and 42)	650,000	20	810,228	24	(20)
Realized gain on financial assets at fair
value through other comprehensive
income (Notes 9, 28 and 42)	3,942	-	3,729	-	6
Net foreign exchange gain	108,144	4	99,412	3	9
Shares of profit of associates for using
equity method (Note 15)	37,088	1	41,954	1	(12)
Others	62,338	2	85,946	3	(27)
Total net revenues and gains other than interest	1,626,049	51	1,836,009	55	(11)
NET REVENUES	3,190,242	100	3,317,157	100	(4)
NET PROVISION FOR (REVERSAL
OF) POSSIBLE LOSS ON BAD
DEBTS EXPENSE, COMMITMENT
AND GUARANTEE (Notes 13, 14,
16, 26 and 38)	39,219	1	(84,540)	(3)	146

OPERATING EXPENSES

Employee benefits expense (Notes 4,

27, 32, 33 and 38)	1,165,913	36	1,236,762	37	(6)
Depreciation and amortization
(Notes 17, 18, 19 and 34)	187,812	6	185,764	6	1
Other general and administrative
expenses (Notes 18, 35 and 38)	571,908	18	553,328	17	3
Total operating expenses	1,925,633	60	1,975,854	60	(3)

(Continued)

FAR EASTERN INTERNATIONAL BANK LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

For the Three Months Ended March 31

Percentage Increase 2025 2024 (Decrease)

	Amount	%	Amount	%	%
INCOME BEFORE INCOME TAX	$ 1,225,390	39	$ 1,425,843	43	(14)
INCOME TAX EXPENSE (Notes 4 and 36)	118,029	4	184,515	6	(36)
NET INCOME FOR THE PERIOD	1,107,361	35	1,241,328	37	(11)
OTHER COMPREHENSIVE INCOME

(LOSS) (Notes 9, 11, 15, 28, 36

and 42)

Items that will not be reclassified subsequently to profit or loss:

Gain (loss) on valuation of investments in equity instruments at fair value through other

comprehensive income (156,930) Share of other comprehensive		(5)	346,822	11	(145)
income of associates for using equity method 3,071		-	1,592	-	93
(153,859)		(5)	348,414	11	(144)
Items that may be reclassified subsequently to profit or loss Exchange differences on translating foreign operations	7,022	-	81,817	2	(91)
Share of other comprehensive income (loss) of associates for using equity method	30,893	1	(9,601)	-	422
Gain (loss) on investments in debt instruments measured at fair value through other comprehensive income	164,435	5	(6,992)	-	2,452
Income tax expense relating to items
that may be reclassified subsequently to profit or loss	(4,617)	-	(3,760)	-	(23)
	197,733	6	61,464	2	222
Other comprehensive income for the period	43,874	1	409,878	13	(89)
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD	$ 1,151,235	36	$ 1,651,206	50	(30)
					(Continued)

FAR EASTERN INTERNATIONAL BANK LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

For the Three Months Ended March 31

Percentage Increase 2025 2024 (Decrease) Amount % Amount % %

NET INCOME ATTRIBUTABLE TO:

Owners of the Bank $ 1,107,361 35 $ 1,241,328 37 (11)

TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO:

Basic	$0.26	$0.29
Diluted	$0.26	$0.29

Owners of the Bank $ 1,151,235 36 $ 1,651,206 50 (30) EARNINGS PER SHARE (Note 37)

The accompanying notes are an integral part of the consolidated financial statements. (Concluded)

FAR EASTERN INTERNATIONAL BANK LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (In Thousands of New Taiwan Dollars) Equity Attributable to Shareholders of the Parent

Others

Unrealized Gain (Loss) on Financial Assets at Fair Value

			Retained Earnings (Notes 9 and 28)			Exchange Differences on Translating	Through Other Comprehensive Income
	Share Capital (Note 28)	Capital Surplus (Note 28)	Unappropriated Legal Reserve Special Reserve Earnings			Foreign Operations	(Notes 9, 15 and 28)	Total Equity
BALANCE ON JANUARY 1, 2024	$ 40,694,838	$ 302,926	$ 12,304,518 $ 1,711,795 $ 4,019,297			$ (167,411)	$ 8,849	$ 58,874,812
Net income for the three months ended March 31, 2024	-	-	- - 1,241,328			-	-	1,241,328
Other comprehensive income for the three months ended March 31, 2024 -		-	-	-	-	78,057	331,821	409,878
Total comprehensive income for the three months ended March 31, 2024 -		-	-	-	1,241,328	78,057	331,821	1,651,206
Disposal of investments in equity instruments at fair value through other comprehensive income (loss)	-	-	-	-	92	-	(92)	-
BALANCE ON MARCH 31, 2024	$ 40,694,838	$ 302,926	$ 12,304,518	$ 1,711,795	$ 5,260,717	$ (89,354)	$ 340,578	$ 60,526,018
BALANCE ON JANUARY 1, 2025	$ 42,753,997	$ 302,926	$ 13,510,272	$ 164,485	$ 4,596,441	$ (65,383)	$ (12,949)	$ 61,249,789
Net income for the three months ended March 31, 2025	-	-	-	-	1,107,361	-	-	1,107,361
Other comprehensive income for the three months ended March 31, 2025 -		-	-	-	-	2,405	41,469	43,874
Total comprehensive income for the three months ended March 31, 2025 -		-	-	-	1,107,361	2,405	41,469	1,151,235
Disposal of investments in equity instruments at fair value through other comprehensive income (loss)	-	-	-	-	(46,255)	-	46,255	-
BALANCE ON MARCH 31, 2025	$ 42,753,997	$ 302,926	$ 13,510,272	$ 164,485	$ 5,657,547	$ (62,978)	$ 74,775	$ 62,401,024

The accompanying notes are an integral part of the consolidated financial statements.

- 7 -

FAR EASTERN INTERNATIONAL BANK LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands of New Taiwan Dollars) For the Three Months Ended

March 31

	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Income before income tax	$ 1,225,390	$ 1,425,843
Adjustments for:
Depreciation	181,442	179,394
Amortization	6,370	6,370
Provision for loss on bad debts expense, commitments and
guarantees	131,033	103,103
Net valuation loss (gain) on financial assets and liabilities at fair
value through profit or loss	371,842	(66,851)
Interest expenses	3,390,946	3,234,742
Interest revenues	(4,955,139)	(4,715,890)
Dividend revenue	(4,774)	(3,549)
Shares of profit from associates	(37,088)	(41,954)
Unrealized net foreign exchange gain on assets and liabilities other
than foreign currency cash and cash equivalents	(16,161)	(3,953)
Other adjustments	6,533	967
Changes in operating assets and liabilities
Decrease in due from the Central Bank and other banks	340,226	147,872
Increase in financial assets at fair value through profit or loss	(7,430,157)	(248,975)
Decrease in financial assets at fair value through other
comprehensive income	3,026,193	123,847
Decrease in investments in debt instruments at amortized cost	306,143	5,893,453
Decrease (increase) in receivables	613,950	(514,272)
Increase in discounts and loans	(4,812,899)	(5,165,451)
Decrease (increase) in other financial assets - financial transaction
margin	319,067	(485,548)
Decrease in due to the Central Bank and other banks	(79,968)	(937,925)
Increase (decrease) in financial liabilities at fair value through
profit or loss	(680,174)	367,621
Increase (decrease) in payables	(8,009,731)	113,721
Increase (decrease) in deposits and remittances	(1,247,477)	6,420,481
Increase in principal received on structured products	1,956,210	5,192,455
Increase (decrease) in other financial liabilities - financial
transaction margin	105,689	(242,892)
Decrease in provisions for employee benefits	(14,312)	(11,977)
Increase (decrease) in other liabilities	204,828	(46,494)
Cash generated from (used in) operations	(15,102,018)	10,724,138
Interest received	5,035,381	4,873,160
Dividends received	5,314	1,541
Interest paid	(2,952,125)	(2,824,516)
Income tax paid	(49,404)	(45,162)

Net cash generated from (used in) operating activities (13,062,852) 12,729,161

(Continued)

FAR EASTERN INTERNATIONAL BANK LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands of New Taiwan Dollars) For the Three Months Ended

March 31

	2025	2024
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment	$ (79,729)	$ (90,888)
Proceeds from disposal of property and equipment	10	8
Increase in other financial assets	(108,306)	(45,766)
Increase in other assets	(38,769)	(11,846)
Net cash used in investing activities	(226,794)	(148,492)
CASH FLOWS FROM FINANCING ACTIVITIES (Note 45) Proceeds from the issuance of bank debentures	6,000,000	-
Repayments of bank debentures	-	(2,500,000)
Decrease in securities sold under repurchase agreements	(2,650,606)	(180,626)
Repayments of the principal portion of lease liabilities	(107,869)	(109,517)
Increase (decrease) in other financial liabilities	66,139	(115,195)

Net cash generated from (used in) financing activities 3,307,664 (2,905,338)

EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH

EQUIVALENTS 169,581 550,796

NET INCREASE (DECREASE) IN CASH AND CASH

EQUIVALENTS	(9,812,401)	10,226,127
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD	48,449,246	33,369,904
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	$ 38,636,845	$ 43,596,031

Reconciliation of the amounts in the consolidated statements of cash flows with the equivalent items reported in the consolidated balance sheets is as follows:

		December 31,
	March 31, 2025	2024	March 31, 2024
Cash and cash equivalents in consolidated balance
sheets	$ 5,657,938	$ 20,587,193	$ 6,544,260
Due from the Central Bank and other banks that meet
the IAS 7 definition of "cash and cash equivalents"	29,715,144	24,427,085	33,692,440
Securities purchased under resale agreements that
meet the IAS 7 definition of "cash and cash
equivalents"	3,263,763	3,434,968	3,359,331
Cash and cash equivalents in consolidated statements of cash flows	$ 38,636,845	$ 48,449,246	$ 43,596,031

The accompanying notes are an integral part of the consolidated financial statements. (Concluded)

FAR EASTERN INTERNATIONAL BANK LTD. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

GENERAL INFORMATION
Far Eastern International Bank Ltd. (the "Bank") obtained its license on January 11, 1992 and started its business on April 11, 1992. The Bank (a) accepts deposits and extends loans and guarantees; (b) issues letters of credit, handles domestic and foreign remittances, and accepts commercial drafts; (c) invests in securities and acts as an agent for trading government bonds, corporate bonds and bank debentures; and (d) conducts relevant businesses that are authorized by the relevant authorities.
The operations of the Bank's Trust Department include pecuniary trust, securities trust, real estate trust, creditor's right of money or guarantee, movable property trust and ground right trust and related operations. These operations are regulated under the Banking Act and Trust Enterprise Act.
As of March 31, 2025, the Bank's operating units included the Business Department, International Banking Department, Trust Department, Credit Card Department, Offshore Banking Unit (OBU), and 54 domestic branches, as well as one branch offices (Hong Kong) and two representative offices (Ho Chi Minh City, Vietnam and Singapore).
The Bank's shares are listed on the Taiwan Stock Exchange. Global depositary receipts (GDR), which represent ownership of ordinary shares of the Bank, have been listed on the Luxembourg Stock Exchange since January 2014.
APPROVAL OF FINANCIAL STATEMENTS
The financial statements were approved by the Bank's Board of Directors on May 5, 2025.
APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS
1. Initial application of the amendments to the Regulations Governing the Preparation of Financial Statements by Public Banks and the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC) and SIC Interpretations (SIC) (collectively, the "IFRS Accounting Standards") endorsed and issued into effect in 2025 by the Financial Supervisory Commission (FSC) did not have a material impact on the Bank and its subsidiaries' accounting policies.
2. The IFRS Accounting Standards endorsed by the FSC for application starting from 2026
  New, Amended and Revised Standards and Interpretations
  Effective Date
  Announced by IASB
  Amendments to IFRS 9 and IFRS 7 "Amendments to the Classification and Measurement of Financial Instruments" - the amendments to the application guidance of classification of financial assets
  January 1, 2026 (Note)
  Note: An entity shall apply those amendments for annual reporting periods beginning on or after January 1, 2026. It is permitted to apply these amendments for an earlier period beginning on January 1, 2025.
  The amendments mainly amend the requirements for the classification of financial assets. If a financial asset contains a contingent feature that could change the timing or amount of contractual cash flows and the contingent event itself does not relate directly to changes in basic lending risks and costs (e.g., whether the debtor achieves a contractually specified reduction in carbon emissions), the financial asset has contractual cash flows that are solely payments of principal and interest on the principal amount outstanding if, and only if,
  - In all possible scenarios (before and after the occurrence of a contingent event), the contractual cash flows are solely payments of principal and interest on the principal amount outstanding; and
  - In all possible scenarios, the contractual cash flows would not be significantly different from the contractual cash flows on a financial instrument with identical contractual terms, but without such a contingent feature.
  An entity shall apply the amendments retrospectively but is not required to restate prior periods. The effect of initially applying the amendments shall be recognized as an adjustment to the opening balance at the date of initial application. An entity may restate prior periods if, and only if, it is possible to do so without the use of hindsight.
  As of the date the financial statements were authorized for issue, the Bank and its subsidiaries are continuously assessing the impact of the application of the amendments on the Bank and its subsidiaries' financial position and financial performance.
3. The IFRS Accounting Standards in issue but not yet endorsed and issued into effect by the FSC
  New, Amended and Revised Standards and Interpretations
  Effective Date
  Announced by IASB (Note)
  Annual Improvements to IFRS Accounting Standards - Volume 11 January 1, 2026
  Amendments to IFRS 9 and IFRS 7 "Amendments to the Classification and Measurement of Financial Instruments" - the amendments to the application guidance of derecognition of financial liabilities
  Amendments to IFRS 9 and IFRS 7 "Contracts Referencing Nature-dependent Electricity"
  Amendments to IFRS 10 and IAS 28 "Sale or Contribution of Assets between an Investor and its Associate or Joint Venture"
  January 1, 2026
  January 1, 2026
  To be determined by IASB
  IFRS 18 "Presentation and Disclosure in Financial Statements" January 1, 2027 IFRS 19 "Subsidiaries without Public Accountability: Disclosures" January 1, 2027
  Note: Unless stated otherwise, the above IFRS Accounting Standards are effective for annual reporting periods beginning on or after their respective effective dates.
  The impact of the application of the following standards on the Bank and its subsidiaries is described as follows:
  1. IFRS 18 "Presentation and Disclosure in Financial Statements"
    IFRS 18 will supersede IAS 1 "Presentation of Financial Statements". The main changes comprise:
    - Items of income and expenses included in the statement of profit or loss shall be classified into the operating, investing, financing, income taxes and discontinued operations categories.
    - The statement of profit or loss shall present totals and subtotals for operating profit or loss, profit or loss before financing and income taxes and profit or loss.
    - Provides guidance to enhance the requirements of aggregation and disaggregation: An entity shall identify the assets, liabilities, equity, income, expenses and cash flows that arise from individual transactions or other events and shall classify and aggregate them into groups based on shared characteristics, so as to result in the presentation in the primary financial statements of line items that have at least one similar characteristic. An entity shall disaggregate items with dissimilar characteristics in the primary financial statements and in the notes. An entity labels items as "other" only if it cannot find a more informative label.
    - Disclosures on Management-defined Performance Measures (MPMs): When in public communications outside financial statements and communicating to users of financial statements management's view of an aspect of the financial performance of an entity as a whole, an entity shall disclose related information about its MPMs in a single note to the financial statements, including the description of such measures, calculations, reconciliations to the subtotal or total specified by IFRS Accounting Standards and the income tax and non-controlling interests effects of related reconciliation items.
  2. Amendments to IFRS 9 and IFRS 7 "Amendments to the Classification and Measurement of Financial Instruments" - the amendments to the application guidance of derecognition of financial liabilities
    The amendments mainly stipulate that, when settling a financial liability in cash using an electronic payment system, an entity can choose to derecognize the financial liability before the settlement date if, and only if, an entity has initiated a payment instruction that resulted in:
    - An entity having no practical ability to withdraw, stop or cancel the payment instruction;
    - An entity having no practical ability to access the cash to be used for settlement as a result of the payment instruction; and
    - The settlement risk associated with the electronic payment system being insignificant.
      An entity shall apply the amendments retrospectively but is not required to restate prior periods. The effect of initially applying the amendments shall be recognized as an adjustment to the opening balance at the date of initial application.
      Except for the above impact, as of the date the financial statements were authorized for issue, the Bank and its subsidiaries are continuously assessing the other impacts of the above amended standards and interpretations on the Bank and its subsidiaries' financial position and financial performance and will disclose the relevant impact when the assessment is completed.

SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION Statement of Compliance

The financial statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Public Banks and IAS 34 "Interim Financial Reporting" as endorsed and issued into effect by the FSC. Disclosure information included in the interim financial statements is less than the disclosure information required in a complete set of annual financial statements.

Basis of Preparation

The financial statements have been prepared on the historical cost basis except for financial instruments which are measured at fair value and net benefit liabilities which are measured at the present value of the defined benefit obligation less the fair value of plan assets. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Current and Noncurrent Assets and Liabilities

Accounts included in the balance sheets are not classified as current or noncurrent since the major components of the financial statements are from the banking sector, whose operating cycle cannot be reasonably identified. Nevertheless, accounts are properly categorized in accordance with their nature and sequenced by their liquidity. Refer to Note 43 for the maturity analysis of liabilities.

Basis of Consolidation

Principles of preparing consolidated financial statements
The financial statements incorporate the financial statements of the Bank and its subsidiaries.
Account balances, income and expenses arising from intercompany transactions between the Bank and its subsidiaries have been eliminated upon consolidation.

Entities included in consolidated financial statements

Entities included in consolidated financial statements were as follows:

% of Ownership

Investor Company Investee Company Nature of Businesses

March 31,

2025

December 31,

2024

March 31,

2024

The Bank	Far Eastern Asset	Purchase, evaluation, auction and	100	100	100
	Management Co., Ltd.	management of rights of
	Far Eastern International	financial institution creditors Foreign securities broker, wealth	100	100	100
	Securities Co., Ltd.	management and offshore fund
Far Eastern Asset	FEIB Financial Leasing	consulting Leasing operation	100	100	100
Management Co., Ltd.	Co., Ltd.

Other Material Accounting Policies

Except for those described below, please refer to consolidated financial statements for the year ended December 31, 2024 for details of summary of material accounting policies.

Retirement benefits
Pension cost of interim period is calculated on a year-to-date basis by using the actuarially determined pension cost rate at the end of the prior financial year, adjusted for market fluctuations since that time and for plan amendments, settlements, or other significant one-off events.
Income tax expense

Income tax expense represents the sum of the tax currently payable and deferred tax. Interim period income taxes are assessed on an annual basis and calculated by applying to an interim period's pre-tax income the tax rate that would be applicable to expected total annual earnings.

MATERIAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The same material accounting judgements and key sources of estimation uncertainty have been followed in the financial statements as were applied in the preparation of the consolidated financial statements for the year ended December 31, 2024.

6. CASH AND CASH EQUIVALENTS
	March 31, 2025	December 31, 2024	March 31, 2024
Cash on hand	$ 3,278,967	$ 4,251,099	$ 3,333,689
Notes and checks for clearing (Note 22)	247,521	9,586,186	715,608
Deposits due from other banks	1,845,612	6,444,957	2,068,082
Balance with other banks	285,838	304,951	426,881
	$ 5,657,938	$ 20,587,193	$ 6,544,260

7. DUE FROM THE CENTRAL BANK AND OTHER BANKS, NET December 31,

	March 31, 2025	2024	March 31, 2024
Due from other banks, net	$ 15,000,326	$ 14,788,115	$ 18,895,326
New Taiwan dollar reserve deposits - Type A	11,546,222	6,473,211	11,639,647
New Taiwan dollar reserve deposits - Type B	18,938,390	19,278,616	16,590,306
Foreign-currency reserve deposits	167,980	164,953	156,625
Due from the Central Bank - Interbank fund transfer account	3,000,616	3,000,806	3,000,842
	$ 48,653,534	$ 43,705,701	$ 50,282,746

The reserve deposits are required by law and determined at a prescribed percentage of the monthly average balances. The Type B reserve deposits can be withdrawn only when the balances are adjusted monthly. The Type A and foreign-currency reserve deposits can be withdrawn on demand but bear no interest.

As of March 31, 2025, December 31, 2024 and March 31, 2024, due from the Central Bank and other banks falling in the definition of IAS 7 "cash and cash equivalents" (i.e. short-term, highly liquid investments, readily convertible to known amounts of cash and subject to an insignificant risk of changes in value); amounted to $29,715,144 thousand, $24,427,085 thousand and $33,692,440 thousand, respectively, and were included in cash and cash equivalents in the statements of cash flows.

The accumulated impairment loss of the due from other banks was measured at an amount equal to the 12-month expected credit loss based on historical experience and forward-looking information.

8. FINANCIAL INSTRUMENTS AT FVTPL
Financial assets mandatorily classified as at FVTPL
	March 31, 2025	December 31, 2024	March 31, 2024
Non-derivative financial assets Government bonds	$ 14,984,360	$ 9,856,260	$ 9,901,211
Shares listed on TWSE and TPEx	575,837	658,189	844,626
Beneficiary certificates	79,116	6,228	9,593
	15,639,313	10,520,677	10,755,430

(Continued)

	March 31, 2025	December 31, 2024	March 31, 2024
Derivative financial assets Interest rate swap contracts	$ 4,762,797	$ 5,701,881	$ 5,412,192
Foreign-currency swap contracts	3,526,089	3,667,364	3,815,396
Cross-currency swap contracts	128,437	128,033	30,744
Forward exchange contracts	101,230	355,128	305,101
Currency option contracts	79,122	137,528	5,869
Credit default swap contracts	54,842	55,948	87,157
Others	16	3,243	15,604
Hybrid contract	8,652,533	10,049,125	9,672,063
Asset swap fixed-income	24,223,488	22,888,183	16,729,802
Credit linked note contracts	9,471,661	7,064,292	3,371,201
Credit linked loan contracts	2,522,604	2,538,532	1,251,186
Convertible bonds	61,959	73,305	92,154
	36,279,712	32,564,312	21,444,343
Total financial assets classified as at FVTPL	$ 60,571,558	$ 53,134,114	$ 41,871,836
			(Concluded)
Financial liabilities held for trading
	March 31, 2025	December 31, 2024	March 31, 2024
Derivative financial liabilities Interest rate swap contracts	$ 4,298,461	$ 5,166,204	$ 4,835,505
Foreign-currency swap contracts	3,233,550	3,006,922	3,776,523
Cross-currency swap contracts	326,825	218,553	-
Currency option contracts	77,964	137,555	3,353
Forward exchange contracts	77,318	114,379	136,554
Others	58,679	85,503	98,647
Total financial liabilities at FVTPL	$ 8,072,797	$ 8,729,116	$ 8,850,582

The Bank engages in derivative transactions mainly to accommodate customers' needs, manage its exposure positions and to accommodate its fund needs in different currencies.

Outstanding derivative contract (notional) amounts	were as follows:
	March 31, 2025	December 31, 2024	March 31, 2024
Interest rate swap contracts	$ 370,579,641	$ 374,852,462	$ 350,729,134
Foreign-currency swap contracts	338,033,105	319,200,618	385,593,883
Currency option contracts	38,532,007	52,979,358	43,629,231
Seller of credit default swap contracts	29,520,612	22,512,082	21,884,359
Cross-currency swap contracts	27,653,750	10,338,230	639,800
Forward exchange contracts	22,419,354	25,288,170	24,235,240
Interest rate option contracts	2,000,000	4,000,000	9,300,000
Government bond futures contracts	170,882	577,140	584,049
Share index futures contracts	28,014	16,497	55,429
Non-deliverable forward contracts	-	525,642	-
Share index option contracts	-	-	14,850
Future contracts	-	-	7,091

FINANCIAL ASSETS AT FVTOCI

	March 31, 2025	December 31, 2024	March 31, 2024
Investments in equity instruments	$ 3,942,706	$ 3,611,815	$ 4,234,102
Investments in debt instruments	52,772,795	55,924,399	60,875,552
Total financial assets at FVTOCI	$ 56,715,501	$ 59,536,214	$ 65,109,654
a. Investments in equity instruments
	March 31, 2025	December 31, 2024	March 31, 2024
Share listed on TWSE and TPEx	$ 3,617,552	$ 3,286,661	$ 3,968,861
Share unlisted on TWSE and TPEx	325,154	325,154	265,241
Total investments in equity instruments	$ 3,942,706	$ 3,611,815	$ 4,234,102

The above investments in equity instrument in the form of share for medium- and long-term strategic purposes and expects to make a profit through long-term investments. Therefore, the designated investments are selected to be measured at FVTOCI. The Bank recognized dividend revenue from equity instruments at FVTOCI as below:

For the Three Months Ended

March 31

	2025	2024
Dividend revenue recognized in profit or loss On equity held at period end	$ 4,034	$ 2,469
On equity disposed of in current period -		-
$ 4,034		$ 2,469

Because of the management and adjustment of the investment portfolio and the liquidation of the investee company, the information about the disposal of equity instruments in the current period is as below:

For the Three Months Ended

March 31

2025

2024

Fair value at the date of disposal

$ 63,895

$ 2,782

Accumulated gain (loss) transferred to retained earnings due to

disposal, net

$ (46,255)

$ 73

b. Investments in debt instruments

	March 31, 2025	December 31, 2024	March 31, 2024
Government bonds	$ 20,201,086	$ 21,635,455	$ 21,593,550
Bank debentures	12,700,849	13,685,038	14,309,987
Corporate bonds	11,160,911	11,132,686	14,119,446
Collateralized mortgage obligation	4,992,005	2,972,543	1,792,665
Commercial paper	3,717,944	4,539,937	9,059,904
Negotiable certificates of deposit	-	1,958,740	-
Total investments in debt instruments	$ 52,772,795	$ 55,924,399	$ 60,875,552

For more information on credit risk management and impairment assessment of investments in debt instruments at FVTOCI, refer to Note 11. The assets pledged as collaterals are disclosed in Note 39.

The carrying amount of the bank debentures that have been issued under repurchase agreements (refer to Note 21 for related information) was as follows:

March 31, 2025 December 31, 2024 March 31, 2024

Bank debentures $ - $ - $ 1,186,732

INVESTMENT IN DEBT INSTRUMENT AT AMORTIZED COST, NET

	March 31, 2025	December 31, 2024	March 31, 2024
Negotiable certificates of deposits - issued by the CBC	$ 103,620,000	$ 101,795,000	$ 88,775,000
Corporate bonds	16,749,731	15,949,493	12,748,714
Bank debentures	16,296,852	15,246,013	12,497,998
Government bonds	9,456,033	13,230,677	13,139,781
	146,122,616	146,221,183	127,161,493
Less: Accumulated impairment loss	10,148	5,984	4,857
	$ 146,112,468	$ 146,215,199	$ 127,156,636

For the information on related financial assets' credit risk management and impairment at amortized cost, see Note 11.

The carrying amount of the government bonds that have been issued under repurchase agreements (refer to Note 21 for related information) were as follows:

March 31, 2025 December 31, 2024 March 31, 2024

Government bonds $ - $ 2,686,545 $ -

CREDIT RISK MANAGEMENT OF INVESTMENTS IN DEBT INSTRUMENTS

The policy which the Bank implements is to invest mainly in debt instruments with credit ratings above (and including) investment grade.

The Bank continued to track external rating information to monitor changes in credit risk of the investments in debt instruments and to review other information such as the bond yield curve and the debtor's material information to assess whether the credit risk of the debt instrument investments has increased significantly since the original recognition. The Bank considers the historical default loss rate announced by the independent rating agencies, the debtor's current financial status and the industry's forward-looking forecasts when measuring the expected credit loss of the debt instrument investments.

The investments in debt instruments are classified at FVTOCI and at amortized cost. The information of changes in total carrying amount was as follows:

March 31, 2025

	At FVTOCI	At Amortized Cost	Total
Total carrying amount	$ 53,453,497	$ 146,122,616	$ 199,576,113
Less: Accumulated impairment loss	10,257	10,148	20,405
Amortized cost	53,443,240	$ 146,112,468	199,555,708
Fair value adjustment	(670,445)		(670,445)
	$ 52,772,795		$ 198,885,263
December 31, 2024
	At FVTOCI	At Amortized Cost	Total
Total carrying amount	$ 56,766,708	$ 146,221,183	$ 202,987,891
Less: Accumulated impairment loss	7,429	5,984	13,413
Amortized cost	56,759,279	$ 146,215,199	202,974,478
Fair value adjustment	(834,880)		(834,880)
	$ 55,924,399		$ 202,139,598
March 31, 2024
	At FVTOCI	At Amortized Cost	Total
Total carrying amount	$ 61,807,117	$ 127,161,493	$ 188,968,610
Less: Accumulated impairment loss	9,008	4,857	13,865
Amortized cost	61,798,109	$ 127,156,636	188,954,745
Fair value adjustment	(922,557)		(922,557)
	$ 60,875,552		$ 188,032,188

The accumulated impairment loss of the investments in debt instruments was measured at an amount equal to the 12-month expected credit loss based on historical experience and forward-looking information. The information on changes in the allowance for accumulated impairment losses was as follows:

For the three months ended March 31, 2025
	At FVTOCI	At Amortized Cost	Total
Beginning on January 1, 2025	$ 7,429	$ 5,984	$ 13,413
Impairment loss on the acquisition of new debt instruments for the current period	2,084	567	2,651
Derecognition	(2,353)	(50)	(2,403)
Exchange rate changes	43	43	86
Expected credit losses and other changes	3,054	3,604	6,658
Balance on March 31, 2025	$ 10,257	$ 10,148	$ 20,405
For the three months ended March 31, 2024
	At FVTOCI	At Amortized Cost	Total
Beginning on January 1, 2024	$ 8,534	$ 4,309	$ 12,843
Impairment loss on the acquisition of new debt instruments for the current period	3,291	277	3,568
Derecognition	(3,177)	(50)	(3,227)
Exchange rate changes	58	42	100
Expected credit losses and other changes	302	279	581
Balance on March 31, 2024	$ 9,008	$ 4,857	$ 13,865

SECURITIES PURCHASED UNDER RESALE AGREEMENTS, NET

	March 31, 2025	December 31, 2024	March 31, 2024
Negotiable certificates of deposit	$ 2,114,907	$ 1,622,266	$ 401,405
Commercial paper	1,149,752	1,813,574	2,958,762
	3,264,659	3,435,840	3,360,167
Less: Accumulated impairment loss	896	872	836
	$ 3,263,763	$ 3,434,968	$ 3,359,331
Resale price	$ 3,268,502	$ 3,439,938	$ 3,364,982
Resale date	2025.04.02-	2025.01.07-	2024.04.15-
	2025.04.18	2025.01.22	2024.04.26

The total carrying amounts shown above have been included as cash and cash equivalents in the statements of cash flows. The allowance for accumulated impairment loss was measured at an amount equal to the 12-month expected credit loss based on historical experience and forward-looking information.

13.	RECEIVABLES, NET
		March 31, 2025	December 31, 2024	March 31, 2024
	Credit card	$ 11,292,566	$ 12,334,167	$ 11,783,448
	Interest	1,806,327	1,882,123	1,553,827
	Buying debt receivables	1,333,148	1,091,148	1,546,717
	Factoring	1,075,944	1,456,189	1,856,264
	Lease receivables	753,046	739,905	730,035
	Spot exchange transactions	572,945	691,934	563,211
	Receivable convertible bond redemption payment	348,500	2,000	9,500
	Acceptances	189,457	179,736	148,489
	Proceeds from disposal of securities	31,553	17,017	1,189,564
	Others	804,671	558,464	638,138
		18,208,157	18,952,683	20,019,193
	Less: Allowance for possible losses	387,241	398,853	431,212
		$ 17,820,916	$ 18,553,830	$ 19,587,981

The changes in the total carrying amount of receivables and other financial assets categorized by credit evaluation stage were as follows:

For the three months ended March 31, 2025

				Total
				Receivables
				and Other
Stage 1		Stage 2	Stage 3	Financial
(Note 1)		(Note 2)	(Note 3)	Assets
Balance on January 1, 2025	$ 16,036,037	$ 71,235	$ 908,200	$ 17,015,472
Changes in financial instruments
recognized at the beginning of
the period:
Transfer to Stage 2	(37,484)	40,070	(103)	2,483
Transfer to Stage 3	(20,016)	(34,353)	67,040	12,671
Transfer to Stage 1	9,613	(12,638)	(432)	(3,457)
Financial assets derecognized in
the current period	(4,688,019)	(4,549)	(49,980)	(4,742,548)
Purchased or originated financial
assets	3,453,567	1,163	769	3,455,499
Write-offs	(1,323)	(15,403)	(28,204)	(44,930)
Exchange rate and other changes	35,965	37	471	36,473
Balance on March 31, 2025	$ 14,788,340	$ 45,562	$ 897,761	$ 15,731,663

For the three months ended March 31, 2024

				Total
				Receivables
				and Other
Stage 1		Stage 2	Stage 3	Financial
(Note 1)		(Note 2)	(Note 3)	Assets
Balance on January 1, 2024	$ 15,976,912	$ 88,098	$ 959,743	$ 17,024,753
Changes in financial instruments
recognized at the beginning of
the period:
Transfer to Stage 2	(38,006)	41,852	(238)	3,608
Transfer to Stage 3	(24,015)	(18,391)	43,836	1,430
Transfer to Stage 1	11,843	(15,591)	(768)	(4,516)
Financial assets derecognized in
the current period	(4,293,971)	(7,360)	(51,860)	(4,353,191)
Purchased or originated financial
assets	4,297,384	1,301	618	4,299,303
Write-offs	(833)	(13,548)	(32,143)	(46,524)
Exchange rate and other changes	95,865	(18,031)	(22,761)	55,073
Balance on March 31, 2024	$ 16,025,179	$ 58,330	$ 896,427	$ 16,979,936

Note 1: 12-month ECLs (evaluate the receivables and other financial assets whose credit risk has not increased significantly since initial recognition).

Note 2: Lifetime ECLs (evaluate the receivables and other financial assets whose credit risk has increased significantly since initial recognition).

Note 3: Lifetime ECLs (evaluate impaired financial assets).

The changes in the allowance for possible loss of receivables and other financial assets categorized by credit evaluation stage were as follows:

For the three months ended March 31, 2025

12-Month Expected Credit Loss

(Stage 1)

Lifetime Expected Credit Loss

(Stage 2)

Lifetime Expected Credit Loss (Credit Impairment on Financial Assets) (Stage 3)

Impairment Under the Guidelines of IFRS 9

The Difference of Impairment under the Regulations

Total Allowance for Possible Losses

Balance on January 1, 2025 Changes in financial instruments recognized at the beginning of the period: Transfer to Stage 2	$ 14,483 (24)	$ 8,424 5,100	$ 256,281 (89)	$ 279,188 4,987	$ 120,243 -	$ 399,431 4,987
Transfer to Stage 3	(12)	(3,070)	18,482	15,400	-	15,400
Transfer to Stage 1	6	(2,284)	(170)	(2,448)	-	(2,448)
Financial assets derecognized in the current period	(5,435)	(861)	(13,157)	(19,453)	-	(19,453)
Purchased or originated financial assets	2,463	237	3,672	6,372	-	6,372
The difference of impairment under
the Regulations	-	-	-	-	(6,343 )	(6,343)
Write-offs	(1,323)	(15,403)	(28,204)	(44,930)	-	(44,930)
Exchange rate and other changes	3,804	14,027	16,695	34,526	-	34,526
Balance on March 31, 2025	$ 13,962	$ 6,170	$ 253,510	$ 273,642	$ 113,900	$ 387,542

For the three months ended March 31, 2024

12-Month Expected Credit Loss

(Stage 1)

Lifetime Expected Credit Loss

(Stage 2)

Lifetime Expected Credit Loss (Credit Impairment on Financial Assets) (Stage 3)

Impairment Under the Guidelines of IFRS 9

The Difference of Impairment under the Regulations

Total Allowance for Possible Losses

Balance on January 1, 2024 Changes in financial instruments recognized at the beginning of the period: Transfer to Stage 2	$ 21,874 (16)	$ 9,682 6,198	$ 283,123 (87)	$ 314,679 6,095	$ 128,015 -	$ 442,694 6,095
Transfer to Stage 3	(10)	(2,750)	13,365	10,605	-	10,605
Transfer to Stage 1	8	(2,697)	(244)	(2,933)	-	(2,933)
Financial assets derecognized in the current period	(2,065)	(828)	(11,298)	(14,191)	-	(14,191)
Purchased or originated financial assets	5,385	220	1,414	7,019	-	7,019
The difference of impairment under
the Regulations	-	-	-	-	5,847	5,847
Write-offs	(833)	(13,548)	(32,143)	(46,524)	-	(46,524)
Exchange rate and other changes	(6,463)	12,407	17,009	22,953	-	22,953
Balance on March 31, 2024	$ 17,880	$ 8,684	$ 271,139	$ 297,703	$ 133,862	$ 431,565

14.	DISCOUNTS AND LOANS, NET
		March 31, 2025	December 31, 2024	March 31, 2024
	Negotiations, discounts and overdraft	$ 46,153	$ 24,613	$ 113,577
	Short-term loans	90,745,746	91,385,574	104,623,818
	Medium-term loans	208,767,062	203,121,852	180,430,944
	Long-term loans	202,380,730	200,473,319	196,170,840
	Overdue receivable	96,681	145,407	192,396
		502,036,372	495,150,765	481,531,575
	Less: Allowance for possible losses	6,307,429	6,345,446	6,191,230
		$ 495,728,943	$ 488,805,319	$ 475,340,345

The details of the provision for (reversal of) possible losses on bad debts, commitment, guarantee and letters of credit issued were as follows:

For the Three Months Ended

March 31

	2025	2024
Provision for possible losses - discounts and loans	$ 100,017	$ 150,322
Provision for possible losses - receivables and other financial assets	34,673	37,212
Reversal of possible losses - commitment, guarantee obligations and letters of credit issued	(3,657)	(84,431)
Amounts recovered - discounts and loans	(52,013)	(149,983)
Amounts recovered - receivables and other financial asset	(39,801)	(37,660)
	$ 39,219	$ (84,540)

The changes in the total carrying amount of discounts and loan categorized by credit evaluation stage were as follows:

For the three months ended March 31, 2025

				Total
				Receivables
				and Other
Stage 1		Stage 2	Stage 3	Financial
(Note 1)		(Note 2)	(Note 3)	Assets
Beginning on January 1, 2025	$ 492,981,294	$ 714,901	$ 1,454,570	$ 495,150,765
Changes of financial instruments
recognized at the beginning of
the period:
Transfer to Stage 2	(1,372,917)	1,747,998	(2,723)	372,358
Transfer to Stage 3	(35,284)	(438,832)	477,594	3,478
Transfer to Stage 1	80,769	(83,627)	(2,489)	(5,347)
Financial assets derecognized
in the current period	(41,125,403)	(54,431)	(53,662)	(41,233,496)
Purchased or originated financial
assets	46,980,003	658	1,532	46,982,193
Write-offs	-	(143)	(149,197)	(149,340)
Exchange rate and other changes	913,929	2	1,830	915,761
Balance on March 31, 2025	$ 498,422,391	$ 1,886,526	$ 1,727,455	$ 502,036,372

For the three months ended March 31, 2024

Stage 1 (Note 1) Stage 2 (Note 2) Stage 3 (Note 3) Total Discounts and Loans

Beginning on January 1, 2024	$ 471,090,267	$ 1,069,319	$ 1,664,416	$ 473,824,002
Changes of financial instruments
recognized at the beginning of
the period:
Transfer to Stage 2	(145,570)	143,493	(1,299)	(3,376)
Transfer to Stage 3	(27,301)	(80,572)	107,433	(440)
Transfer to Stage 1	240,579	(246,804)	(4,698)	(10,923)
Financial assets derecognized
in the current period	(44,635,998)	(632,458)	(131,641)	(45,400,097)
Purchased or originated financial
assets	51,192,114	74,021	1,462	51,267,597
Write-offs	(371)	(1,895)	(77,498)	(79,764)
Exchange rate and other changes	1,929,806	14	4,756	1,934,576
Balance on March 31, 2024	$ 479,643,526	$ 325,118	$ 1,562,931	$ 481,531,575

Note 1: 12-month ECLs (evaluate the discounts and loans whose credit risk has not increased significantly since initial recognition).

Note 2: Lifetime ECLs (evaluate the discounts and loans whose credit risk has increased significantly since initial recognition).

Note 3: Lifetime ECLs (evaluate impaired financial assets).

The changes in the allowance of discounts and loan categorized by credit evaluation stage were as follows: For the three months ended March 31, 2025

	12-Month	Lifetime	Lifetime Expected Credit Loss (Credit	Impairment	The Difference
	Expected Credit	Expected Credit	Impairment on	Under the	of Impairment	Total Allowance
	Loss	Loss	Financial Assets)	Guidelines of	Under the	for Possible
	(Stage 1)	(Stage 2)	(Stage 3)	IFRS 9	Regulations	Losses
Beginning on January 1, 2025 Changes of financial instruments recognized at the beginning of the period: Transfer to Stage 2	$ 678,821 (5,128 )	$ 97,943 81,778	$ 369,148 (2,358 )	$ 1,145,912 74,292	$ 5,199,534 -	$ 6,345,446 74,292
Transfer to Stage 3	(261 )	(44,037 )	144,209	99,911	-	99,911
Transfer to Stage 1	234	(17,851 )	(1,857 )	(19,474 )	-	(19,474 )
Financial assets derecognized in the current period	(96,272 )	(7,130 )	(17,842 )	(121,244 )	-	(121,244 )
Purchased or originated financial assets	130,517	333	11,747	142,597	-	142,597
The difference of impairment under the Regulations.	-	-	-	-	(222,467 )	(222,467 )
Write-offs	-	(143 )	(149,197 )	(149,340 )	-	(149,340 )
Exchange rate and other changes	133,087	77	24,544	157,708	-	157,708
Balance on March 31, 2025	$ 840,998	$ 110,970	$ 378,394	$ 1,330,362	$ 4,977,067	$ 6,307,429

For the three months ended March 31, 2024

	12-Month	Lifetime	Lifetime Expected Credit Loss (Credit	Impairment	The Difference
	Expected Credit	Expected Credit	Impairment on	Under the	of Impairment	Total Allowance
	Loss	Loss	Financial Assets)	Guidelines of	Under the	for Possible
	(Stage 1)	(Stage 2)	(Stage 3)	IFRS 9	Regulations	Losses
Beginning on January 1, 2024 Changes of financial instruments recognized at the beginning of the period: Transfer to Stage 2	$ 1,468,207 (392 )	$ 86,926 42,887	$ 375,911 (1,121 )	$ 1,931,044 41,374	$ 4,164,797 -	$ 6,095,841 41,374
Transfer to Stage 3	(120 )	(36,201 )	58,990	22,669	-	22,669
Transfer to Stage 1	883	(22,690 )	(1,327 )	(23,134 )	-	(23,134 )
Financial assets derecognized in the current period	(216,703 )	(10,502 )	(18,573 )	(245,778 )	-	(245,778 )
Purchased or originated financial assets	90,554	2,768	328	93,650	-	93,650
The difference of impairment under the Regulations.	-	-	-	-	790,615	790,615
Write-offs	(371 )	(1,895 )	(77,498 )	(79,764 )	-	(79,764 )
Exchange rate and other changes	(531,078 )	991	25,844	(504,243 )	-	(504,243 )
Balance on March 31, 2024	$ 810,980	$ 62,284	$ 362,554	$ 1,235,818	$ 4,955,412	$ 6,191,230

15. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD March 31, 2025 December 31, 2024 March 31, 2024

Associates that are not individually material $ 2,854,153 $ 2,783,101 $ 2,769,096

As of March 31, 2025, December 31, 2024 and March 31, 2024, the Bank held 29.58% of the shares of Dah Chung Bills Finance Corp. and was the single largest shareholder. The Bank's shareholding ratio has no absolute difference compared with those of other shareholders, and the Bank does not control more than half of the seats in the board of directors, does not have the control power to dominate the related activities, and only has significant influence over the invested company. Therefore, Dah Chung is reported as an associate in the financial statements.

The share of the Bank and its subsidiaries in these associates' financial performance is summarized as follows:

For the Three Months Ended

March 31

			2025	2024
	Net income from continuing operation		$ 37,088	$ 41,954
	Other comprehensive income (loss)		33,964	(8,009)
	Total comprehensive income		$ 71,052	$ 33,945
16.	OTHER FINANCIAL ASSETS, NET
		March 31, 2025	December 31, 2024	March 31, 2024
	Nonaccrual loans other than discounts and loans	$ 530	$ 907	$ 640
	Less: Allowance for possible losses (Note 13)	301	578	353
		229	329	287
	Refundable deposits	4,694,164	4,958,469	3,933,542
	Less: Accumulated impairment loss	1,063	1,942	574
		4,693,101	4,956,527	3,932,968
	Restricted time deposits (Note 39) Time deposits with original maturities of more	3,655,760	3,580,800	3,526,080
than 3 months 123,382			98,472	-
$ 8,472,472			$ 8,636,128	$ 7,459,335

The accumulated impairment loss of the refundable deposits was measured at an amount equal to the 12-month expected credit loss based on historical experience and forward-looking information.

17. PROPERTY AND EQUIPMENT, NET

For the three months ended March 31, 2025

Buildings and

Computer

Transportation

Miscellaneous

Properties and Equipment

	Land	Improvements	Equipment	Equipment	Equipment	Prepayment	Total
Cost
Beginning balance	$ 3,460,213	$ 1,150,581	$ 3,038,064	$ 962	$ 1,594,752	$ 171,200	$ 9,415,772
Additions	-	50,216	21,226	-	7,437	850	79,729
Disposals	-	-	(1,801)	(37)	(18,057)	-	(19,895)
Others	-	-	23,196	-	230	(22,153)	1,273
Ending balance	3,460,213	1,200,797	3,080,685	925	1,584,362	149,897	9,476,879
Accumulated depreciation
Beginning balance	-	686,001	2,171,841	895	1,361,648	-	4,220,385
Depreciation	-	6,471	60,625	8	14,123	-	81,227
Disposals	-	-	(1,801)	(37)	(17,842)	-	(19,680)
Others	-	-	811	-	330	-	1,141
Ending balance	-	692,472	2,231,476	866	1,358,259	-	4,283,073
Net ending balance	$ 3,460,213	$ 508,325	$ 849,209	$ 59	$ 226,103	$ 149,897	$ 5,193,806

For the three months ended March 31, 2024

Buildings and

Computer

Transportation

Miscellaneous

Properties and Equipment

	Land	Improvements	Equipment	Equipment	Equipment	Prepayment	Total
Cost
Beginning balance	$ 3,460,213	$ 1,163,579	$ 2,717,240	$ 1,010	$ 1,570,220	$ 167,430	$ 9,079,692
Additions	-	-	55,228	57	5,282	30,321	90,888
Disposals	-	(331)	(1,565)	-	(913)	-	(2,809)
Others	-	(89)	29,705	-	803	(26,375)	4,044
Ending balance	3,460,213	1,163,159	2,800,608	1,067	1,575,392	171,376	9,171,815
Accumulated depreciation
Beginning balance	-	676,032	1,943,453	970	1,319,706	-	3,940,161
Depreciation	-	6,011	56,878	7	14,051	-	76,947
Disposals	-	(331)	(1,564)	-	(914)	-	(2,809)
Others	-	(89)	3,068	-	689	-	3,668
Ending balance	-	681,623	2,001,835	977	1,333,532	-	4,017,967
Net ending balance	$ 3,460,213	$ 481,536	$ 798,773	$ 90	$ 241,860	$ 171,376	$ 5,153,848

The above items of property and equipment are depreciated on a straight-line basis over the following estimated useful lives:

Buildings and improvements 5 to 55 years

Computer equipment 3 to 7 years

Transportation equipment 3 to 7 years

Miscellaneous equipment 3 to 20 years

In order to build the Bank's headquarters office, the Bank resolved to acquire a parcel of land in Xinyi District, Taipei City, and participated in the planning of joint construction on the land at the board of directors' meeting held in November 2020. The total price for the land was $2,012 million, and the legal procedures for the land transfer were completed in January 2023. The Bank resolved to sign a construction base development project contract with Far Eastern Construction Co., Ltd. at the board of directors' meeting held in May 2024, and afterward the contract was signed in June 2024. The Bank will provide the land and capital, and Far Eastern Construction Co., Ltd. will provide plan, design, construction, construction management and construction manager services for the building on the construction site. The estimated value of the entrusted construction contract is $2,485 million. The Bank and the other landowners will allocate the construction costs in proportion of the space of the building base held. The Bank is expected to afford $486 million. The contract stipulates that if there is an additional construction costs, it will be limited to 15% of the original contract amount.

18. LEASE ARRANGEMENTS

The Bank and its subsidiaries lease property mainly for the use of the Bank's branches and offices within 2 to 20 years. Right-of-use assets, lease liabilities and recognition of depreciation expense and interest expense are as follows:

		December 31,
	March 31, 2025	2024	March 31, 2024
Net carrying amount of right-of-use assets	$ 884,143	$ 903,588	$ 1,118,205
Carrying amount of lease liabilities	$ 897,100	$ 924,169	$ 1,130,909
The range of discount rate	0.83%-4.30%	0.83%-4.30%	0.83%-4.30%

For the Three Months Ended

March 31

		2025		2024
Additions to right-of-use assets		$ 80,261		$ 129,225
Cash outflow for leases		$ 111,439		$ 113,640
Depreciation expense of right-of-use assets		$ 100,215		$ 102,447
Interest expense of lease liabilities		$ 2,724		$ 3,261
Other lease information Short-term lease expenses		$ 846		$ 862
The analysis of the total future payment maturity of the lease liability contracts is as follows:
		March 31, 2025	December 31, 2024	March 31, 2024
	Within 1 year	$ 369,620	$ 378,091	$ 399,077
	1-3 years	322,613	355,105	516,100
	More than 3 years	226,616	211,657	241,013
		$ 918,849	$ 944,853	$ 1,156,190
19.	INTANGIBLE ASSETS, NET
		March 31, 2025	December 31, 2024	March 31, 2024
	Operation rights	$ 1,538,210	$ 1,538,210	$ 1,538,210
	Fair value of core deposits	428,887	428,887	428,887
	Less: Accumulated amortization	426,763	420,393	401,280
		2,124	8,494	27,607
		$ 1,540,334	$ 1,546,704	$ 1,565,817

In April 2010, the Bank acquired the assets and liabilities of Chinfon Bank's domestic branch Package B through a bidding process. The acquired operation rights of Chinfon Bank's branches have indefinite useful life, while the fair value of core deposits is amortized over 4 to 15 years.

After assessed the operation rights of branches is a franchise business right without definite useful life, and the operation rights are expected to generate net cash flows continuously; therefore, the operation rights are not amortized annually.

The Bank assesses the recoverable amount of the cash-generating unit of the operation rights for impairment on an annual basis. To reflect risks specific to the operation, the Bank estimated the recoverable amount based on the net fair value of the discounted future cash flows of the cash-generating unit based on the Bank's financial forecast, and no impairment was assessed for the years 2024 and 2023. There were no significant changes in the assessment for the three months ended March 31, 2025 and 2024, no impairment loss was recognized on operation rights.

20.	DUE TO THE CENTRAL BANK AND OTHER BANKS
	March 31, 2025	December 31, 2024	March 31, 2024
	Call loans to banks $ 2,787,288	$ 2,835,802	$ 479,850
	Due to banks 16,188	16,188	35,972
	Bank overdrafts 2,470	-	79,166
	$ 2,805,946	$ 2,851,990	$ 594,988
21.	SECURITIES SOLD UNDER REPURCHASE AGREEMENTS
	March 31, 2025	December 31, 2024	March 31, 2024
	Government bonds (Note 10) $ - Bank debentures (Note 9) -	$ 2,643,625 -	$ - 1,123,671
	$ -	$ 2,643,625	$ 1,123,671
	Repurchase price $ -	$ 2,660,494	$ 1,126,126
	Repurchase date -	2025.01.06-	2024.04.03-
		2025.01.21	2024.04.11
22.	PAYABLES
	March 31, 2025	December 31, 2024	March 31, 2024
	Interest $ 2,369,838	$ 1,932,271	$ 2,240,484
	Securities settlement 1,877,475	339,462	8,171
	Expenses 1,249,458	1,634,905	1,455,702
	Accounts payable factoring 599,393	463,133	636,464
	Credit card 339,425	350,134	288,089
	Collections payable and withholding tax payable 268,105	219,261	233,462
	Notes and checks for clearing (Note 6) 247,521	9,586,186	715,608
	Acceptances 189,457	179,736	148,489
	Taxes 74,768	137,136	71,881
	Others 585,417	486,393	718,743
	$ 7,800,857	$ 15,328,617	$ 6,517,093

23. DEPOSITS AND REMITTANCES
			December 31,
		March 31, 2025	2024		March 31, 2024
Checking deposits		$ 3,125,508	$ 3,470,926		$ 4,301,025
Demand deposits		117,519,057	122,111,872		117,938,215
Demand savings		113,231,744	109,447,517		109,584,428
Time savings		134,324,908	132,281,391		110,053,399
Negotiable certificates of deposit		24,508,500	16,588,500		31,364,500
Time deposits		306,367,508	314,919,606		298,173,750
Remittances		106,083	49,388		58,932
		$ 699,183,308	$ 698,869,200		$ 671,474,249
24. BANK DEBENTURES
Domestic Bank Debentures
Issuance December 31, Item Period Note March 31, 2025 2024 March 31, 2024
Subordinated bank debentures -	2018.09.18-	Interest payable on September 18	$ 2,900,000	$ 2,900,000	$ 2,900,000
perpetual; first issue in 2018		each year fixed interest rate at
Subordinated bank debentures -	2019.07.30-	3.20% Interest payable on July 30 each	2,000,000	2,000,000	2,000,000
seven-year maturity; second issue in 2019	2026.07.30	year fixed interest rate at 1.15%
Subordinated bank debentures -	2019.07.30-	Interest payable on July 30 each	2,000,000	2,000,000	2,000,000
ten-year maturity; second issue in 2019	2029.07.30	year fixed interest rate at 1.25%
General bank debentures -	2019.09.26-	Interest payable on September 26	-	-	3,500,000
five-year maturity; third issue in 2019	2024.09.26	each year fixed interest rate at 0.75%
Subordinated bank debentures -	2020.11.26-	Interest payable on November 26	1,600,000	1,600,000	1,600,000
seven-year maturity; first issue in 2020	2027.11.26	each year fixed interest rate at 0.75%
Subordinated bank debentures -	2021.04.27-	Interest payable on April 27 each	2,400,000	2,400,000	2,400,000
seven-year maturity; first issue in 2021	2028.04.27	year fixed interest rate at 0.83%
General bank debentures -	2024.10.24-	Interest payable on October 24 each	5,000,000	5,000,000	-
five-year maturity; first issue in 2024	2029.10.24	year fixed interest rate at 1.95%
General bank debentures -	2024.10.24-	Interest payable on October 24 each	1,000,000	1,000,000	-
seven-year maturity; first issue in 2024	2031.10.24	year fixed interest rate at 2.00%
General bank debentures -	2025.03.20-	Interest payable on March 20 each	6,000,000	-	-
five-year maturity; first issue in 2025	2030.03.20	year fixed interest rate at 2.00%
Subordinated bank debentures -	Matured on	-	1,660	1,660	1,660
seven-year maturity; 1-1 issue in 2005; acquired from	2012.06.28
Chinfon Bank
Subordinated bank debentures -seven-year maturity; 1-1 issue	Matured on 2009.06.28	-	240	240	240
in 2002; acquired from
Chinfon Bank
Total bank debentures			$ 22,901,900	$ 16,901,900	$ 14,401,900

The Bank made a first issuance of perpetual non-cumulative subordinated bank debentures in 2018 in the amount of $2,900,000 thousand on September 18, 2018, with an interest rate of 3.20% payable once a year if the interest payment condition is met. After five years of issuance, the Bank has the right to redeem these bank debentures in advance under the authorities' regulation of issuance and permission. As of March 31, 2025, the Bank had not exercised the right of redemption.

Earlier from Far Eastern International Bank

All Far Eastern International Bank news releases