First Financial Holding
First Half 2025 Earnings Results
September 2, 2025
Contents
At a Glance
Financial Highlights
Operating Results
Appendix
At a Glance
Growth Moderated into 1H25
FFHC 1H25 net profit grew 1.6% YoY to NT$ 13,946 mn, or NT$ 0.97 per share For the first six months of 2025, earnings was driven by bank performance. Subsidiary First Bank posted a net income of NT$ 13,807 mn (+7.9% YoY); non-bank subsidiaries
reported a total of NT$ 763 mn (-38.9% YoY).
Bank earnings rose as core revenue increased and credit cost subdued
NII growth picked up to 4.2% YoY, given an ease in funding cost; fee grew 6.8%, with wealth fee up by 26.6% YoY; treasury gains grew 9.4% YoY, mainly from SWAP income up by 11.3% YoY. Core revenue growth buffered higher compensation expense. Credit cost was lower by 18.7% YoY on normalized provision expense.
-
Loan growth steadied at 5.0% YoY
Mortgage grew by10.0% YoY, large corp. loan by 7.5% YoY and SME lending by 1.7%. FX loan shrank by 2.5% on distorted NTD exchange rate, though dollar term balance actually grew by 8.0% YoY.
-
First Life released excess liability reserve of NT$ 321 mn in June
Following FSC's relief measures announced in end of June, lifer subsidiary released excess reserve on revenue to buffer against volatile NT dollar.
- Group 2024 "Sustainably Report" and "TCFD Report" are on-line
Please visit our website at https://csr.firstholding.com.tw/en/csr_report.html and https://csr.firstholding.com.tw/en/tcfd_report.html.
Financial Highlights
FFHC Key Figures
Net Income Breakdown1 (in NT$ mn)
Key Figures (in NT$, NT$ mn)
Lifer NT$179; 1.3%
Securities NT$298; 2.1%
Others
-NT$517; -3.7%
Investment Trust NT$82; 0.6 %
AMC, NT$97; 0.7%
Bank NT$13,807; 99.0%
1H24 | 1H25 | YoY % | |
Consolidated Net Income1 | 13,729 | 13,946 | +1.6% |
Comprehensive Income | 17,469 | 8,409 | -51.9% |
Total Assets | 4,619,024 | 4,808,110 | +4.1% |
EPS | 0.95 | 0.97 | +2.1% |
Book Per Share | 18.13 | 18.27 |
Capital Stock | 140,287 | 143,795 |
ROAE2 | 10.92% | 10.52% | -0.4% |
ROAA2 | 0.60% | 0.58% | -0.02% |
Group CAR | 122.45% | 129.83% | +7.4% |
Double Leverage3 | 112.43% | 115.36% | +2.9% |
Consolidated figures with eliminated entries
Annualized figures
Double leverage = equity investment / shareholder equity
FFHC Net Income & Comprehensive Income
1H25 Consolidated Net Income & Comprehensive Income (in NT$ mn) | ||||||||
↑1.5% | ↓17.6% | ↓32.0% | ↑1.6% | ↓51.9% | ||||
1H24 Consolidated Net Income & Comprehensive Income (in NT$ mn) | |||||
Net Income Breakdown by Subsidiaries*
1H25 Net Income By Subsidiaries (in NT$ mn) | |||||
↑7.9% | ↑1.6% | ||||
13,807 | 13,946 | ||||
↓ 56.6% | |||||
298 | 82 | 179 | 97 | ||
First Bank | First Securities | FSITC | First Life | First AMC | FFHC |
1H24 Net Income By Subsidiaries (in NT$ mn) | |||||
12,799 First Bank | 686 First Securities | 76 FSITC | 175 First Life | 72 First AMC | 13,729 FFHC |
* Major 5 subsidiaries were listed.
Operating Results
FFHC'S & First Bank's Profitability
-After Tax
FFHC Net Income & ROAE (in NT$ mn & %)
11.46% 10.88% 9.51% 11.04% 10.92% 10.80% 9.82% 10.60% 10.52%
13,158
19,027
22,461
7,015
1
9
1
136
561
938
301
7380
71
13,72978789
240
92
39
8
653
20,808
25,359
7,206
13,946
9M 19
6M 21
6M23 9M23 2023 3M24 6M24 9M24 2024 3M25 6M25
First Bank Net Income & ROAE (in NT$ mn & %)
Cumulative Net Income
10.38% 10.04%
Annualized ROAE
10.04% 9.92% 9.84%
8.89%
8.99% 9.68%
9.92%
12,256
18,016
21,526
6,493
12,799
23,806
19,443
6,778
13,807
6M23 9M23 2023 3M24 6M24 9M24 2024 3M25 6M25
FB Pre-tax Profits Breakdown
Cumulative Net Revenue (in NT$ mn or %)
% of Net Revenue (in %)
30,984
+5.7%
32,744
z
1H24 1H25
Cumulative Net Revenue
Pre-tax Profit Breakdown (in NT$ mn )
↑ 4.2%
Item | 1H24 | 1H25 | Change |
NII | 45.7% | 45.1% | -0.6% |
Net Fee | 19.6% | 19.8% | +0.2% |
Gain on ST Invest. | 0.9% | 0.6% | -0.3% |
Gain on LT invest. | 0.9% | 1.0% | +0.1% |
Gain on Fin. Products | 30.2% | 31.5% | +1.3% |
Others | 2.7% | 2.0% | -0.7% |
Total Net Revenue | 100.0% | 100.0% | |
Provision Expense (net) | -5.2% | -4.0% | +1.2% |
Operating Expense | -44.2% | -44.0% | +0.2% |
Income Before Tax | 50.6% | 52.0% | +1.4% |
↑5.2%
14,162
14,759
6,083
↑6.8%
6,497
9,916
↑9.4%
10,853
3,248
↓12.3%
2,847
1,629
1,531
13,688
14,400
1H24 1H25 1H24 1H25 1H24 1H25 1H24 1H25 1H24 1H25 1H24 1H25
Net Interest Income
Net Fee Income Gains on Fin.
Products
Gross Provision
Recovery
Operating Expense
FB Loan Book Mix
Loan Book (in NT$ bn)
2,529.7
+5.0%
2,655.4
1H24 1H25
Loan Book1
% of Loan Book Mix | |||
Item 1H24 | 1H25 | Change | |
Consumer 30.2% | 32.1% | +1.9% | |
Mortgage 26.7% | 27.9% | +1.2% | |
Other Consumer Loan 3.5% | 4.2% | +0.7% | |
Corporate Banking 69.8% | 67.9% | -1.9% | |
Large Corp. Loan 12.9% | 13.2% | +0.3% | |
SME Loan2 38.0% | 36.9% | -1.1% | |
F/X Loan 16.9% | 15.7% | -1.2% | |
--- Overseas 12.2% | 11.4% | -0.8% | |
Gov./ SOE Loan 2.0% | 2.1% | +0.1% | |
Loan Book1 100.0% | 100.0% | ||
Loan Book Mix (in NT$ bn )
↑10.0%
962.1
↑ 1.7%
978.3
674.3
741.4
325.3
↑7.5%
349.7
428.6
Overseas
307.5
↓ 2.5%
417.8
↓1.8%
Overseas 301.9
139.4
168.2
other consumer loan
111.2 bn
1H24 1H25 1H24 1H25 1H24 1H24 1H24 1H25 1H24 1H25
Mortgage Large Corp. Loan
SME Loan2
F/X Loan Others3
Loan book does not include NALs
SME is defined by the "Standards for Identifying Small and Medium-sized Enterprises"
FB Loan Book Mix
-QoQ Comparison
QoQ Loan Book Mix (in NT$ bn) | |
QoQ% 2,529.7 2,570.0 2,642.9 2,671.3 2,655.4 ↓ 0.6% 674.3 699.8 720.6 731.6 741.4 Mortgage ↑1.3% ↑2.5% 960.6 954.8 978.3 SME 962.1 947.8 Large Corp. ↑2.0% 325.3 339.7 349.3 342.8 349.7 F/X ↓8.9% 428.6 427.6 443.3 458.4 417.8 139.4 155.1 169.1 183.7 168.2 Others 2Q24 3Q24 4Q24 1Q25 2Q25 | |
FB LDR, SPREAD &NIM
Loan-Deposit Spread / NIM ( in % )
Total Loan & LDR (in NT$ bn & % ) | Tota | l Loan1 | LDR | |||||||||||||
70.24% | 69.08% | 69.79% | 69.59% | 71.02% | 71.11% | 70.68% | 70.03% | NTD 82.3% | ||||||||
F/X 41.6% | ||||||||||||||||
2,406.7 | 2,417.5 | 2,497.2 | 2,534.4 | 2,574.5 | 2,647.2 | 2,676.0 | 2,659.5 | |||||||||
3Q23 | 2023 | 1Q24 | 2Q24 | 3Q24 | 2024 | 1Q25 | 2Q25 | |||||||||
△
Spread2
NIM2
1.36% 1.34%
1.21% 1.20% 1.18% 1.17%
1.11% 1.11%
0.76% 0.76% 0.70% 0.70% 0.68% 0.67% 0.67% 0.71%
3Q23 2023 1Q24 2Q24 3Q24 2024 1Q25 2Q25
Total Loan = loan + import/export negotiation + NALs
Annual cumulative average spread and NIM
FB Loan Yields, Costs & Spreads
NTD Rates & Spreads Overview (in %) | Deposit Rate (NTD) | Lending Rate (NTD) | Interest Spread (NTD) | |
1.30% | 1.30% | 1.29% | ||
1.26% | 1.26% | |||
2.36% | 2.37% | 2.36% | 2.35% | 2.36% |
1.06% | 1.07% | 1.07% | 1.09% | 1.10% |
2Q24 | 3Q24 | 4Q24 | 1Q25 | 2Q25 |
FX Rates & Spreads Overview (in %) | Deposit Rate (FX) | Lending Rate (FX) | Interest Spread (FX) | ||||||
2.50% | 2.35% | 2.21% | 2.08% | 2.06% | |||||
6.47% | 6.33% | 5.93% | 5.57% | 5.41% | |||||
3.97% | 3.98% | 3.72% | 3.49% | 3.35% | |||||
2Q24 | 3Q24 | 4Q24 | 1Q25 | 2Q25 | |||||
*All rates are quarterly average rates.
FB Deposit Mix
NTD CASA Rate (in %)
Deposit Mix (in | NT$ bn) | ||
NTD Deposit | F/X deposit | ||
1,008.4 | -0.3% | 1,005.0 | |
Total | |||
Deposit | |||
3,723.0 bn | |||
2,633.4 | +3.2% | 2,718.0 | +2.2% YoY |
1H24 | 1H25 | ||
NTD CASA rate
62.62%
63.31%
62.75%
61.82%
2023 1H24 2024 1H25
Major Exposures to Specific Industries
% of Loan to Industries | |||
Manufacturing (23.09%) Non-Manufacturing (76.91%) 4.10% Petro. Construction 3.05% 5.22% Metal Wholesale/Retail 9.49% 5.01% Tech. Real Estate 11.20% Transportation & 2.60% 3.83% Machinery Warehousing Financial & 5.28% Insurance | |||
FB Mortgage Book Mix
Mortgage Yield & LTV Ratio (in %) | ||||||
Loan-to-value ratio of new mortgage | ||||||
Avg. loan-to-value ratio | ||||||
2.30% 2.29% 2.28% 2.28% | 2.30% | |||||
64.79% 64.82% 64.86% 64.87% | 64.84% | |||||
48.24% 48.61% 48.84% 48.83% | 48.86% | |||||
2Q24 3Q24 4Q24 1Q25 | 2Q25 |
% of Mortgage by Location (in %) | |
Mortgage NPL: 0.11% Taipei East Area Area 2.9% 43.6% Kaohsiung Area Taoyuan 11.2% Area 19.6% Tainan Area 10.0% Taichung Area 12.7% | |
Monthly New Mortgage Lending (in NT$ mn) | Monthly New Mortgage Lending | |||||||||||||
53,503 | ||||||||||||||
16,175 | 19,319 | 18,009 | 18,976 | 16,811 | 14,080 | 13,452 | 13,885 | 12,480 | 11,514 | 32,467 11,918 | 9,035 | 10,226 | 29,628 10,417 | 8,985 |
4M24 | 5M24 | 6M24 | 7M24 | 8M24 | 9M24 | 10M24 | 11M24 | 12M24 | 1M25 | 2M25 | 3M25 | 4M25 | 5M25 | 6M25 |
Item | 1H24 | 1H25 | Change |
WM Fee1 | 57.6% | 68.3% | +10.7% |
Loan-related | 28.7% | 18.9% | -9.8% |
F/X | 5.6% | 5.3% | -0.3% |
Credit Card | 3.0% | 3.2% | +0.2% |
Other2 | 5.1% | 4.3% | -0.8% |
Net Fee Income | 100.0% | 100.0% |
FB Fee Income Breakdown
Cumulative Net Fee Income (in NT$ mn or %)
Net Fee Income Breakdown
6,083
+6.8%
6,497
1H24 1H25
Cumulative Net Fee Income
Cumulative Net Fee Breakdown ( in NT$ mn )
3,503
↑26.6%
4,436
1,742
↓ 29.6%
1,227
342
347
183
206
313
281
1H24 1H25 1H24 1H25 1H24 1H25 1H24 1H25 1H24 1H25
WM Fee 1Loan-related F/X Credit Card
WM Fee = fund Sales + bancassurance + custodian
Channel fees charged by branches (overseas branches included)
Others 2
FB Fee Income Breakdown
-QoQ Comparison
QoQ Fee Income Breakdown (in NT$ mn) | |
QoQ 3,083 3,323 3,174 Quarterly 2,819 2,797 ↓4.5% fee income 132 87 149 208 167 119 120 180 159 207 186 94 95 650 181 172 577 Others1 565 166 Credit Card 610 548 169 F/X Related 168 Loan Related 150 167 1,219 Bancassurance 1,150 1,121 ↓5.7% Wealth 858 857 Management2 Custodian Bancassurance 751 715 902 830 767 Mutual Fund Mutual Fund ↓8.0% 2Q24 3Q24 4Q24 1Q25 2Q25 | |
Channel fees charged by branches (overseas branches included)
WM Fee = fund sales + bancassurance + custodian
Item | 1H24 | 1H25 |
Net Revenue | 30,984 | 32,744 |
Operating Expense | (13,688) | (14,400) |
Provision(Net) | (1,619) | (1,316) |
Income Tax | (2,878) | (3,221) |
Net Income | 12,799 | 13,807 |
FB Cost-to-Income Ratio
Cumulative Operating Expense (in NT$ mn)
Cost-to-Income (in NT$ mn)
13,688
+5.2%
14,400
1H24 1H25
Cumulative Operating Expense
Quarterly Operating Expense & Cumulated Cost-to-Income Ratio (in NT$ mn or %) | ||||||||
Net Revenue | Operating Expense | |||||||
44.84% | 42.06% 44.18% 42.56% 44.38% | 45.35% | 43.98% | |||||
13,961 | 17,461 15,595 15,389 14,485 | 15,595 | 17,149 | |||||
6,976 | 6,559 7,129 6,928 7,310 | 7,072 | 7,328 | |||||
4Q23 | 1Q24 2Q24 3Q24 4Q24 | 1Q25 | 2Q25 | |||||
FB Asset Quality
NPL, NPL Reserve, Coverage Ratio, NPL Ratio (in NT$ mn or % ) | |||||||||
NPL NPL Reserve | |||||||||
826.96% | 819.77% | 843.19% | |||||||
742.13% | 745.24% 769.77% | 801.27% | |||||||
0.17% | 0.18% | 0.18% 0.18% | 0.17% | 0.17% | |||||
0.16% | |||||||||
33,897 | 32,848 | 33,473 35,170 | 36,727 | 37,033 | 36,911 | ||||
4,099 | 4,426 | 4,492 4,569 | 4,480 | 4,622 | 4,378 | ||||
2023 | 1Q24 | 2Q24 3Q24 | 2024 | 1Q25 | 2Q25 | ||||
Individual1& Mortgage NPL Ratios (in %) | ||||
Individual | Mortgage | |||
0.15% | ||||
0.10% | 0.12% | |||
0.07% 0.06% | 0.08% | 0.10% | 0.11% | |
2Q24 | 3Q24 2024 | 1Q25 | 2Q25 | |
Large Corp. & SME NPL Ratios | (in %) | ||
Large Corp. | SME | ||
0.17% 0.16% | 0.17% | 0.18% | |
0.14% | |||
0.00% 0.00% | 0.02% | 0.01% | 0.00% |
2Q24 3Q24 | 2024 | 1Q25 | 2Q25 |
1. Individual: mortgage and non-mortgage loan included
FB Overseas Profits
Overseas Pre-Tax Profits Mix (in NT$ mn or %) | FB Total Pre-Tax Profits Mix (in NT$ mn or %) | |||
21.24% | 1H25 Total Pre-Tax Profits: 17,028 mn Others, 13.83% OBU/Greater China, 13.10% | |||
OBU/Greater China | ||||
1H25 Overseas 10.78% 4,586mn | 48.63% | North America Asean Others | Domestic Market, 73.07% | |
19.35% | ||||
Quarterly Overseas & Total PTP (in NT$ mn or %)
Overseas
Total
Cumulative Overseas PTP to FB Total PTP
9.49%
23.97% 22.93% 27.67% 26.73% 26.93%
7,873 7,804 7,997
5,569
8,455 8,573
3,010
2,326
2,260
2,662
1,672
747
1Q24 2Q24 3Q24 4Q24 1Q25 2Q25
CAR & Core Capital
FFHC Group CAR (in %) | |||||||||||
128.09% | 130.05% | 129.83% | |||||||||
125.16% | 122.45% | 126.05% | |||||||||
100% | |||||||||||
2H22 | 1H23 | 2H23 | 1H24 | 2H24 | 1H25 | ||||||
FB CAR & Core Capital | (in %) | |||||||||||||||||
Tier 1 | ||||||||||||||||||
15.38% | ||||||||||||||||||
13.76% | 14.26% | 14.56% | 13.87% | 14.45% | ||||||||||||||
11.80% | 12.32% | 12.61% | 11.96% | 12.29% | 13.14% | |||||||||||||
2H22 | 1H23 | 2H23 | 1H24 | 2H24 | 1H25 | |||||||||||||
Appendix
FFHC Consolidated Income Statement
1H24 | 1H25 | Change |
15,825 | 16,406 | 3.7% |
6,215 | 6,614 | 6.4% |
2,345 | 1,915 | -18.3% |
8,951 | 11,264 | 25.8% |
412 | 111 | -73.1% |
379 | 657 | 73.4% |
75 | 37 | -50.7% |
(36) | - | - |
(840) | 1,036 | - |
2,458 | (2,369) | - |
(77) | 93 | - |
348 | 816 | 134.5% |
36,055 | 36,580 | 1.5% |
(1,626) | (1,340) | -17.6% |
(1,640) | (1,115) | -32.0% |
(15,957) | (16,671) | 4.5% |
16,832 | 17,454 | 3.7% |
(3,103) | (3,508) | 13.1% |
13,729 | 13,946 | 1.6% |
3,740 | (5,537) | - |
17,469 | 8,409 | -51.9% |
0.95 | 0.97 | 2.1% |
FFHC Consolidated Income Statement Summary (in NT$ million or %)
Year-over-Year Comparison | ||||||
2021 | 2022 | 2023 | 2024 | |||
Net interest income | 34,588 | 37,969 | 32,525 | 31,234 | ||
Net service fee & commission | 10,383 | 9,409 | 10,187 | 12,782 | ||
Net Insurance revenue | 9,525 | 8,980 | 3,147 | 3,671 | ||
Gain on financial assets meas. at fair value through P/L | 3,356 | 3,271 | 19,205 | 19,237 | ||
Real estate investment gain | 185 | 190 | 212 | 540 | ||
Gain on financial assets at fair value | 3,176 | 1,984 | 584 | 1,672 | ||
through other compre. income | ||||||
Income from equity invest. | 100 | 76 | 155 | 127 | ||
Excluding gain on fin. assets measured at amort.cost | (10) | (68) | (409) | (537) | ||
Reserve of overlay approach | (43) | 237 | (235) | (441) | ||
Net gain on F/X | 877 | 5,300 | 1,158 | 3,535 | ||
Assets impairment loss | 67 | (6) | (50) | (155) | ||
Others | 400 | 414 | 776 | 454 | ||
Net Revenue | 62,604 | 67,756 | 67,255 | 72,119 | ||
Net Provision for credit losses | (3,621) | (6,577) | (5,818) | (5,763) | ||
Recovered(provided) for insurance res. | (9,275) | (8,906) | (2,793) | (2,614) | ||
Operating Expense | (26,275) | (27,786) | (30,382) | (32,505) | ||
Income from continued op. before tax | 23,433 | 24,487 | 28,262 | 31,237 | ||
Income tax expenses | (3,694) | (3,891) | (5,801) | (5,878) | ||
Consolidated net income | 19,739 | 20,596 | 22,461 | 25,359 | ||
Other Items | (4,847) | (8,056) | 12,440 | 5,659 | ||
Comprehensive Income | 14,892 | 12,540 | 34,901 | 31,018 | ||
EPS1(NT$) | 1.49 | 1.51 | 1.60 | 1.81 | ||
1. EPS is adjusted retroactively for stock dividends paid the next year. | ||||||
FFHC Non-consolidated Income Statement
FFHC Non-Consolidated Income Statement Summary
in NT$ million, NT$, or %
Full Year Results Year-over-Year Comparison
2021 | 2022 | 2023 | 2024 | |
Operating revenues | 20,333 | 21,270 | 23,514 | 26,359 |
Income from long-term investment | 20,163 | 21,094 | 23,318 | 26,124 |
Other income | 170 | 176 | 196 | 235 |
Operating expenses | (403) | (413) | (440) | (485) |
Other expenses and losses | (184) | (267) | (381) | (465) |
Income from continued op. before tax | 19,747 | 20,590 | 22,693 | 25,409 |
Net income | 19,739 | 20,596 | 22,461 | 25,359 |
EPS1(NT$) | 1.49 | 1.51 | 1.60 | 1.81 |
1H24 | 1H25 | Change |
14,229 | 14,726 | 3.5% |
14,051 | 14,574 | 3.7% |
178 | 152 | -14.6% |
(242) | (255) | 5.4% |
(208) | (268) | 28.8% |
13,779 | 14,203 | 3.1% |
13,729 | 13,946 | 1.6% |
0.95 | 0.97 | 2.1% |
1. EPS is adjusted retroactively for stock dividends paid the next year.
FFHC Balance Sheet
Full Years Result | Year-over-Year Comparison | |||||||
2021 | 2022 | 2023 | 2024 | 1H24 | 1H25 | Change | ||
Non-consolidated Balance Sheet Data Long-term investment | 241,171 | 244,673 | 271,903 | 296,683 | 282,729 | 299,684 | 6.0% | |
Total non-consolidated assets | 248,995 | 251,732 | 280,569 | 303,714 | 295,869 | 311,823 | 5.4% | |
Total liabilities | 24,449 | 27,609 | 32,125 | 35,828 | 41,533 | 49,116 | 18.3% | |
Total shareholders' equity | 224,547 | 224,123 | 248,444 | 267,886 | 254,336 | 262,707 | 3.3% | |
Conolidated Balance Sheet Data | ||||||||
Total consolidated assets | 3,739,594 | 4,157,196 | 4,429,410 | 4,704,422 | 4,619,024 | 4,808,110 | 4.1% | |
Total liabilities | 3,515,047 | 3,933,073 | 4,180,966 | 4,436,536 | 4,364,688 | 4,545,404 | 4.1% | |
Total shareholders' equity | 224,547 | 224,123 | 248,444 | 267,886 | 254,336 | 262,706 | 3.3% | |
Current shares outstanding | 129,642 | 132,234 | 136,201 | 140,287 | 140,287 | 143,795 | 2.5% | |
FFHC Balance Sheet Summary in NT$ million or million shares
FFHC Key Ratios
FFHC Key Ratios
Full Year Results Year-over-Year Comparison
2021 | 2022 | 2023 | 2024 | |
After-tax ROAA (Annualized ratio) | 0.55% | 0.52% | 0.52% | 0.56% |
After-tax ROAE (Annualized ratio) | 8.86% | 9.18% | 9.51% | 9.82% |
Book Per Share | 17.32 | 16.95 | 18.24 | 19.10 |
Capital Stock | 129,642 | 132,234 | 136,201 | 140,287 |
Double Leverage | 108.75% | 110.38% | 110.73% | 111.97% |
Group CAR | 130.35% | 125.16% | 130.05% | 126.05% |
Debt Ratio1 | 9.82% | 10.97% | 11.45% | 11.80% |
1H24 | 1H25 | Change |
0.60% | 0.58% | -0.02% |
10.92% | 10.52% | -0.40% |
18.13 | 18.27 | 0.77% |
140,287 | 143,795 | 2.50% |
112.43% | 115.36% | 2.93% |
122.45% | 129.83% | 7.38% |
14.04% | 15.75% | 1.71% |
1. Non-consolidated basis
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