First Financial Holding
2024 Full Year Earnings Results
March 6, 2025
Contents
- At a Glance
- Financial Highlights
- Operating Results
- Appendix
At a Glance
2024 Full Year Performance
Group Net Income Trend (in NT$ mn )
Consolidated Net Income
19,36919,739
17,33216,808
15,432
+12.9%
25,359
22,461
20,596
2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
5
Record 2024; Navigating Growth for 2025
- All-timehigh with net profit of NT$25,359 mn for 2024, up by 12.9% YoY
FFHC closed the year with earnings per share of NT$1.81, a result combining of bank's peak net income ever of NT$23,806 mn (+10.6% YoY) and non-bank subsidiaries' NT$2,316 mn (+29.3% YoY) in total.
- Fee revenues and treasury gains formed twin-pillar for Bank's top-line
Fee income, helped by wealth business, grew 34.1% YoY whilst treasury gains was up by 11.1% YoY, benefited from booming capital markets and SWAP gains.
- Total loan book expanded by 9.5%
Mortgage book expanded by 15.0% YoY. New mortgage volume has seen gradual declines QoQ following Central bank's tightening policies. Under strong US dollar and Trump effects, FX & SME loan growth both picked up towards year-end.
- Aiming at sustainable growth with capital build-up amid 2025's Trump 2.0
A complex mix of Trump 2.0 policies unveiled 2025 and the tariffs impact loom economic growth and inflationary pressure, while intensifying power tensions and reshaping supply-chain order. Fed to pause easing cycle for now; AI continues to be market growth theme. FFHC carries on a growth strategy by fortifying capital position and navigating optimal profitability.
6
Financial Highlights
FFHC Key Figures
Net Income Breakdown1 ( in NT$ mn)
Life | AMC | ||||
NT$581; 2.3% | NT$169; 0.6% | ||||
Investment Trust | Others | ||||
-NT$528; -2.1% | |||||
NT$148; 0.6 % | |||||
Securities | Banking | |
NT$1,183; 4.7% | ||
NT$23,806; 93.9% | ||
Key Figures ( in NT$ dollar, NT$ mn )
2023 | 2024 | YoY % | |
Consolidated Net Income1 | 22,461 | 25,359 | +12.9% |
Comprehensive Income | 34,901 | 31,018 | -11.1% |
Total Assets | 4,429,410 | 4,704,422 | +6.2% |
EPS | 1.60 | 1.81 | +13.1% |
Book per share | 18.24 | 19.10 | +4.7% |
Capital Stock | 136,201 | 140,287 | +3.0% |
ROAE2 | 9.51% | 9.82% | +3.3% |
ROAA2 | 0.52% | 0.56% | +7.7% |
Group CAR | 130.05% | 126.05% | -3.1% |
Double Leverage3 | 110.73% | 111.97% | +1.1% |
- Consolidated figures with eliminated entries
- Annualized figures
- Double leverage = equity investment / shareholder equity
8
FFHC Net Income & Comprehensive Income
2024 Consolidated Net Income & Comprehensive Income (in NT$ mn)
↑7.2%
↑12.9% ↓11.1%
2023 Consolidated Net Income & Comprehensive Income (in NT$ mn)
9
Net Income Breakdown by Subsidiaries*
2024 Net Income By Subsidiaries (in NT$ mn)
↑10.6% | ↑12.9% | |||||||||||
23,806 | 25,359 | |||||||||||
↑21.0% | ↑28.7% | ↑ 33.3% | ||||||||||
1,183 | 148 | 581 | 169 | |||||||||
First Bank | First Securities | FSITC | First Life | First AMC | FFHC |
2023 Net Income By Subsidiaries (in NT$ mn)
21,526 | 22,461 |
978 | 115 | 436 | 161 | |||||||||
First Bank | First Securities | FSITC | First Life | First AMC | FFHC |
* Major 5 subsidiaries were listed.
10
Operating Results