First Financial Holding
3Q24 Earnings Results
December 2, 2024
Contents
- At a Glance
- Financial Highlights
- Operating Results
- Appendix
At a Glance
Good Earnings Through September
- 9M24 net income up by 9.4% YoY on fresh high
Thanks to increasing quarterly bank revenues, Group delivered a net income of
NT$20,808 mn for 9M24, or NT$ 1.48 per share. Over 9M24, bank arm registered a net income of NT$19,443 mn (+7.9% YoY), broker of NT$931 mn (+12.0% YoY), lifer of NT$473 mn (-11.3% YoY).
- Increasing bank earnings from strong fee and rebounded treasury gains
Bank profit rose as wealth management continued to lead solid fee growth by 33.1% YoY, and SWAP activities carried over to add treasury gains by 14.5% YoY.
- Loan growth boosted by mortgage and large corp. momentum
Mortgage book expanded by 15.7% YoY and large corp. by 15.0% YoY. Central bank's cooling measures for housing market should affect mortgage volume after the clean-upof backlog of mortgage loans granted.
- Into 2025, aiming at sustainable growth with capital build-up
Operating in the context of Fed easing cycle & new US fiscal policies, China stimulus plan, Taiwan pathway to net-zero, AI economy and lingering negative sentiments from a divided world, Group's strategic plan for a profitable growth by fortifying capital position and reshaping business portfolio continues.
5
Financial Highlights
FFHC Key Figures
Net Income Breakdown1 ( in NT$ mn)
Life | AMC | |||
NT$473; 2.3% | NT$124; 0.6% | |||
Investment Trust | Others | |||
-NT$275; -1.3% | ||||
NT$112; 0.5 % | ||||
Securities | Banking | |
NT$931; 4.5% | NT$19,443; 93.4% |
Key Figures ( in NT$ dollar, NT$ mn )
3Q23 | 3Q24 | YoY % | ||
Consolidated Net Income1 | 19,027 | 20,808 | +9.4% | |
Comprehensive Income | 28,465 | 28,293 | -0.6% | |
Total Assets | 4,365,570 | 4,647,219 | +6.5% | |
EPS | 1.36 | 1.48 | +8.8% | |
Book per share | 17.77 | 18.90 | +6.4% | |
Capital Stock | 136,201 | 140,287 | +3.0% | |
ROAE2 | 10.88% | 10.80% | -0.7% | |
ROAA2 | 0.60% | 0.61% | +1.7% | |
Group CAR | 128.74% | 128.50% | -0.2% | |
Double Leverage3 | 110.93% | 112.00% | +1.0% |
- Consolidated figures with eliminated entries
- Annualized figures
- Double leverage = equity investment / shareholder equity
7
FFHC Net Income & Comprehensive Income
3Q24 Consolidated Net Income & Comprehensive Income (in NT$ mn)
↑7.0%
↑9.4% ↓0.6%
3Q23 Consolidated Net Income & Comprehensive Income (in NT$ mn)
8
Net Income Breakdown by Subsidiaries*
3Q24 Net Income By Subsidiaries (in NT$ mn)
↑9.4%
↑7.9%
19,443 | ↑12.0% | 20,808 | ||||||||||
↑23.1% | ↓11.3% | |||||||||||
931 | 112 | 473 | 124 | |||||||||
First Bank | First Securities | FSITC | First Life | First AMC | FFHC |
3Q23 Net Income By Subsidiaries (in NT$ mn)
18,016 | 19,027 |
831 | 91 | 533 | 120 | |||||||||
First Bank | First Securities | FSITC | First Life | First AMC | FFHC |
* Major 5 subsidiaries were listed.
9
Operating Results
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