June 1, 2017
First Financial Holding20171Q Earnings Result
2
Disclaimer
This presentation is provided by First Financial Holding Co., Ltd. (“FFHC”). The information contained within is not reviewed or reviewed by any accountant or any independent third party. Users should read this material in conjunction with all other public financial and operational information filed to the competent authorities by FFHC. While we endeavor to provide accurate, complete and consistent information herein, FFHC makes no guarantee or warranties as to the accuracy or correctness of all the material contained. After this presentation is released to the public, we undertake no obligation to update any relevant data to reflect any change hereafter.
Users should also notice that this presentation may contain forward-looking statements. Statements that are not historical facts, including statements relating to the implementation of strategic initiatives, future business development and economic performance are forward-looking statements. By their nature, forward-looking statements involve uncertainties, risks, assumptions and other factors that could cause actual developments and results to differ materially from our statement in this presentation. These factors include, but not limited to, regulatory developments, competitive conditions, technological developments, general economic conditions and management changes.
The information, statements or opinions in this presentation do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to buy any securities or financial instruments or any advice or recommendation respect to such securities or other financial instruments. First Group and all its affiliates representatives, no matter for their negligence or any other reasons, should not be liable for any loss or damages arising from the use of or interpretation by others of information contained within this presentation or any matter related to this document.
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Contents
- At a Glance- Financial Highlight- Operating Results- Appendix
At a Glance
5
1Q 2017 - Resumed Loan Demand
Loan book grew by 4.7% YoY, both NTD & F/X demand Rose :Better than expected loan growth of +4.7% YoY in 1Q17 despite of 1Q ends with strong NTD appreciation, see domestic and overseas loan demand resume active.
Group 1Q17 earnings slid 2.2 % YoY lack of one-off THSR’s revenue in 1Q16: 1Q17 group posted -2.2% YoY earnings result mainly due to one-off NT 858 mn THSR preferred shares recovery. If not considering, FB bottom line still went up by 9%.
Dividend Payout Raised:NT$ 1.20 Cash Dividend and NT$0.20 Stock Dividend distributed for another year of high-dividend yield. (Subject to AGM approval scheduled on June 16, 2017)
1Q 2017 Financial Highlight
7
1Q 2017 Key Figures
BankingNT$4,320; 102.3%SecuritiesNT$99; 2.3%
Investment TrustNT$15; 0.4%
OthersNT$(61);-1.4%
InsuranceNT$(64); -1.5%
Key Figures ( in NT$ dollar, NT$ mn, mn shares or %) 1Q17 Net Income Breakdown1( in NT$ mn)
7
Consolidated Net Income1
Comprehensive Income
Total Assets
EPS
Book per share
Capital Stock
ROAE3
ROAA3
Group CAR4
Double Leverage5
1. Based on the classification of specific company’s business units, financial information by business segments should be listed individually.2. Comprehensive Income Statement is required by IFRS.3. Annualized figures. . 4. Preliminary data.5. Double Leverage = Equity Investment / Shareholder Equity
1Q17
4,3091
2,918
2,566,877
0.36
16.26
119,769
8.92%
0.68%
130.82%
106.26%
YoY %
-2.2%
-30.8%
3.6%
-2.7%
-2.9%
4.5%
-3.9%
-5.6%
-10.6%
-1.1%
1Q16
4,4061
4,219
2,477,174
0.37
16.74
114,611
9.28%
0.72%
146.39%
105.18%
Chart1
銀行業務
其他
證券
投信
保險
東部
4320
-61
99
15
-64
Sheet1
銀行業務其他證券投信保險
東部NT$4,320-NT$6199NT$15-64
8
1Q17 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Net Income & Comprehensive Income
1Q16 Consolidated Net Income & Comprehensive Income (in NT$ mn)
Credit (246)Insurance (45)
Credit (452)Insurance (1,339)
↓2.2%
(922)
(5,450)
(187)
4,406 4,219
(291)11,069
Net Revenue Provision OperatingExpense
Income Tax Net Income Other Items ComprehensiveIncome
(757)
(5,225)
(1,391)
4,309 2,918
(1,791)12,082
Net Revenue Provision OperatingExpense
Income Tax Net Income Other Items ComprehensiveIncome
↓30.8%
19
4,808 4,406
(74) (49)First Bank First Securities FSITC First-Aviva FFHC
9
1Q17 FFHC Net Income Breakdown (in NT$ mn)
Net Income Breakdown by Subsidiaries*
1Q16 FFHC Net Income Breakdown (in NT$ mn)
4,309
(64)
1599
4,320
First Bank First Securities FSITC First-Aviva FFHC
FFHC (25)Aviva (24)
FFHC (33)Aviva (31)
↓10.2% ↓ 2.2%
* Major 4 subsidiaries were listed.
1Q 2017 Operating Results
7,89612,013
16,100
4,8089,072
13,68517,699
4,320
6M 15 9M 15 2015 3M 16 6M 16 9M 16 2016 3M 17
1111
Cumulative Net Income
Annualized ROAE
First Bank Net Income & ROAE (in NT$ mn & %)
Cumulative Net Income
1.Minority interests included
FFHC & First Bank Profitability-After Tax
FFHC Net Income & ROAE (in NT$ mn & %)
8,10812,018
15,962
4,4068,746
13,40717,284
4,309
6M 15 9M 15 2015 3M 16 6M 16 9M 16 2016 3M 17
10.50%9.45% 9.32% 9.28% 9.36% 9.47% 9.10% 8.92%
10.32% 9.60% 9.56% 10.36% 9.86% 9.83% 9.46% 9.00%
Annualized ROAE
10,698
10,026
1Q16 1Q17
12
1Q16 1Q17 1Q16 1Q17 1Q16 1Q17 1Q16 1Q17 1Q16 1Q17
Cumulative Net Revenue
1Q17 Cumulative Net Revenue (in NT$ mn or %) % of FB Net Revenue (in %)
↓32.8%
z
Item 1Q16 1Q17 Change
NII 64.6% 70.0% +5.4%
Net Fee 17.7% 15.5% -2.2%
Gain on ST Invest. 0.2% 0.7% +0.5%
Gain on LT invest. 1.8% 0.8% -1.0%
Gain on fin. Products 14.8% 12.7% -2.1%
Others 0.9% 0.3% -0.6%
Total Revenue 100.0% 100.0%
Provision Expense (net) -2.2% -4.5% +2.3%
Operating Expense -44.6% -45.3% +0.7%
Income Before Tax 53.2% 50.2% -3.0%
Net Interest Income
6,906
1,898 1,801
7,018
1,559 1,415 450230
4,772 4,546
Net Fee Income Gains oninvestment Provision Expense(net) Operating Expense
Reaudited 1Q16 & 1Q17 full year FB statements due to Property & Casualty subsidiary re-org. into FB from July 1 of 2016.Preliminary Data.
FB Revenue/Expense Comparison(in NT$ mn )
↑1.6%
↓17.9% ↓21.4%
FB 1Q17 Pre-tax Profit
-6.3%
↓4.7%
396.7
24.0
403.6
27.4
787.2749.4
309.1 330.1
13
1Q16 1Q17 1Q16 1Q17 1Q16 1Q17 1Q16 1Q17
↑1.7%
F/X ↑6.8%
FB 1Q17 Loan Book Mix1Q17 Loan Book1 (in NT$ bn or %)
1Q17 Loan Book1 Breakdown (in NT$ bn )
Mortgage Other Consumer LoanCommercial Loan
(Gov./SOE included)F/X Loan
1. Loan Book does not include NALs2. SME as defined by the “Act for Development of Small & Medium Enterprises; both NTD & Foreign currency loan included
1,479.2
1,548.3
1Q16 1Q17Loan Book1
+4.7%
Item 1Q16 1Q17 ChangeConsumer 28.4% 27.9% -0.5%
Mortgage 26.8% 26.1% -0.7%Other Consumer Loan 1.6% 1.8% +0.2%
Corporate Banking 71.6% 72.1% -0.5%Commercial Loan
(Gov./SOE included) )50.7% 50.8% +0.1%
--- SME 40.2% 41.6% +1.4%
F/X/ Loan 20.9% 21.3% +0.4%--- Overseas 12.2% 12.6% +0.4%
Loan Book1 100.0% 100.0%
% of Loan Book1
↑5.0%
SME2
595.1 SME2
610.6 Overseas180.2
SME↑8.1%
Overseas194.4
Overseas↑ 7.9%
↑ 14.2%
SME2
643.5
1414
309.1 327.0 322.1 329.5 330.1
154.3 131.5 137.7 136.4 143.7
595.1 610.6 625.1 647.8 643.5
24.0 25.0 25.527.5 27.4
396.7 400.1 403.9405.9 403.6
1Q16 2Q16 3Q16 4Q16 1Q17
FB Loan Breakdown-QoQ Comparison
SME
Mortgage
Commercial Loan
FB Loan Growth (in NT$ bn)
1,479.2 1,494.2 1,514.3 1,547.1 1548.3
F/X loan
Total loan
QoQ%
Consumer Loan
Others
-0.6%
-0.4%
-0.7%
5.4%
+0.2%
1515
Loan-Deposit Spread / NIM ( in % ) NIM3Spread3
1,456.2 1,431.1 1,468.0 1,489.5 1,482.6 1,497.3 1,517.3 1,550.8 1,552.3
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
Total Loan & LDR (in NT$ bn or % )
FB 1Q17 LDR, SPREAD &NIM
1. Total Loan = loan + import/export negotiation + NALs2. LDR = Total loan / Total deposit, starting from 2012, total deposit does not include structured deposit.3. Annual cumulative Average Spread and NIM
Total Loan1 LDR2
△△
80.21% 78.55% 77.94% 76.88% 77.30% 78.56%79.15% 79.04% 80.48%
1.60% 1.62% 1.61% 1.63% 1.64% 1.64% 1.64% 1.65% 1.63%
1.26%1.26%1.26%1.29% 1.28% 1.25% 1.26%1.27%1.26%
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
1616
FB Deposit Structure (in NT$ bn )
FB 1Q17 Deposit Mix
NTD Deposit F/X deposit
△
NTD CASA rate
1,424.10 1,422.5
492.9 505.5
1Q16 1Q17
+0.6%
1Q17 Total Deposit$1928.1 bn
FB NTD Deposit CASA Rate (in %)
63.82% 65.03% 65.17%67.09% 66.59%
1H15 2H15 1H16 2H16 1Q17*
1,898
1,559
1Q16 1Q17
17
↑3.0%
FB 1Q17 Fee Income Breakdown1Q17 Cumulative Net Fee Income (in NT$ mn or %)
1Q17 Cumulative Net Fee Breakdown ( in NT$ mn )
1Q16 1Q17 1Q16 1Q17 1Q16 1Q17 1Q16 1Q17 1Q16 1Q17
WM Fee 1 Loan-related F/X Credit Card
1. WM Fee = Custodian Fee + Trust-related Fee + Bancassurance Fee 2. Other represents network service fee, including overseas branches3. Reaudited 1Q16 & 1Q17 FB statements due to Property & Casualty subsidiary merged into FB from July 1 of 2016.
Net Fee Income
Item 1Q16 1Q17 Change
WM1 51.2% 52.2% +1.0%Loan-related 20.6% 18.3% -2.3%
F/X 12.1% 13.5% +1.4%
Credit Card 4.5% 5.5% +1.0%
Other2 11.6% 10.5% -1.1%
Cumulative Net Fee 100.0% 100.0%
% of Cumulative Net Fee
↓ 23.7%
-17.9%
2
Other 2
↓16.2%
971
392
85221229
814
16485211285
↓27.3%
1818
FB 1Q17 Cost-to-Income Ratio
Quarterly Operating Expense & Cumulated Cost-to-Income Ratio ( in NT$ mn or % ) Operating Expense Cumulated Cost-to-Income RatioNet Revenue
4,772
4,546
1Q16 1Q17
Operating Expense
Item 1Q16 1Q17
Net Revenue 10,698 10,026
Operating Expense (4,772) (4,546)
Provision(Net) (230) (450)
Income Tax (889) (709)
Net Income 4,808 4,320
1Q17 Cumulative Operating Expense (in NT$ mn ) Cost-to-Income Ratio Analysis( in NT$ mn)
-4.7%
10,698 10,036 10,682 10,245 10,026
4,772 4,567 4,732 4,990 4,546
1Q16 2Q16 3Q16 4Q16 1Q17
44.61% 44.84% 44.65% 45.65% 45.34%
Reaudited 1Q16 & 1Q17 FB statements due to Property & Casualty subsidiary merged into FB from July 1 of 2016.
1919
2,596 2,761 2,879 3,060 3,105 3,035 3,385
18,20518,97318,27619,45119,93220,12420,738
9M15 2015 3M16 6M16 9M16 2016 3M17
FB 1Q17 Asset Quality
0.22%0.20%0.20%0.20%0.19%0.19%0.18%
537.82%625.14%588.67%635.75%
692.31%
751.03%775.31%
NPL Amount, Reserve, Coverage (in NT$ mn or % )
Coverage Ratio
NPL Ratio NPL NPL Reserve
1.18%1.22%1.21%1.30%
1.36%1.40%1.40%
LLR ratio (loan loss reserve/total loan, excluding gov.loan)
2020
FB NPL Migration by SectorsIndividual1 & Mortgage NPL Ratios(in %) Large Corp. & SME NPL Ratios(in %)
0.06% 0.06% 0.00% 0.00% 0.00%
0.30% 0.30% 0.32% 0.28% 0.35%
1Q16 2Q16 3Q16 4Q16 1Q17
Large Corp.SME
0.24%0.19%0.21%
0.23%0.22%
1Q16 2Q16 3Q16 4Q16 1Q17
Domestic
Domestic NPL Ratio(in %)
0.09% 0.10%0.19% 0.23%
0.11%
1Q16 2Q16 3Q16 4Q16 1Q17
Overseas NPL Ratio(in %)
1. Individual: mortgage and non-mortgage loan included2. bad-debt recovery not included.
Overseas
0.20%0.22%
0.18%0.16%
0.23%0.21%0.23%
0.19% 0.18%
0.26%
1Q16 2Q16 3Q16 4Q16 1Q17
IndividualMortagge
2121
CAR & Core Capital
123.04% 121.24% 125.34%132.75%
153.43%
131.84%139.14%
130.82%
2H13
1H14
2H14
1H15
2H15
1H16
2H16
1Q17
*
10.90% 10.88% 11.50%12.27%
13.67% 13.46% 13.27% 13.31%
8.31% 8.64% 9.02%9.45%
10.93% 10.86% 10.95% 11.11%
2H13
1H14
2H14
1H15
2H15
1H16
2H16
1Q17
*
statutory CAR 100%
CAR
CAR
Tier 1
FB CAR & Core Capital(in %)
FFHC Group CAR(in %)
•Leverage ceiling for holding companies in Taiwan: Double Leverage < 125% ; Debt Ratio < 30%•Preliminary data for 1Q17.
Re-cap.
Re-cap.
22
Shareholder Return
2012 2013 2014 2015 2016
Cash dividend 0.45 0.50 0.70 0.95 1.20
Stock dividend 0.65 0.70 0.65 0.45 0.20
Total dividend 1.10 1.20 1.35 1.40 1.40
CASH Payout ratio
38.1% 42.4% 49.0% 64.2% 82.8%
1.10 1.20 1.35 1.40 1.40
1.18 1.481.18 1.43 1.45 1
2012 2013 2014 2015 2016
FFHC Earnings Per Share ( in NT$ dollar )
EPSDividend
FFHC Dividend History ( in NT$ dollar )
1. EPS is adjusted retroactively for stock dividends 2. 2016’s dividend proposal is subject to final approval at 2017 AGM meeting on June 16.
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Appendix
24
FFHC Consolidated Statement of Comprehensive Income
FFHC Consolidated Statement of Comprehensive Income (in NT$ million or %)
2014 2015 2016 1Q16 1Q17 ChangeNet interest income 28,278 28,452 28,801 7,157 7,273 1.6%Net service fee & commission 7,428 8,502 8,723 2,311 1,719 -25.6%Net Insurance revenue (6,533) 121 1,351 159 1,475 --Gain on financial assets meas. 1,373 1,152 2,569 909 1,888 107.7% at fair value through P/LReal estate investment gain 172 146 163 40 14 -65.0%Gain on AFS financial assets 417 541 951 144 110 -23.6%Income from equity invest. (26) (588) (75) (196) 55 --Net gain on F/X 2,172 1,707 935 (20) (521) 2505.0%Assets impairment loss (6) (10) (39) 0 (15) --Others 911 825 1,712 565 84 -85.1%Ner Revenue 34,186 40,848 45,091 11,069 12,082 9.2% Net Provision for credit losses (4,015) (518) (2,244) (246) (452) -- Recovered(provided) for insurance res. 7,101 540 (871) (45) (1,339) --Operating Expense (20,789) (21,893) (21,779) (5,450) (5,225) -4.1%Income from continued op. before tax 16,483 18,976 20,197 5,328 5,066 -4.9%Income tax expenses (2,405) (3,014) (2,913) (922) (757) -17.9%Consolidated net income 14,078 15,962 17,284 4,406 4,309 -2.2%Other Items 3,420 413 (2,354) (187) (1,391) 643.9%Comprehensive Income 17,497 16,375 14,930 4,219 2,918 -30.8%Net Income attributed to: Parent 14,085 16,006 17,356 4,430 4,340 -2.0% Minority interests (7) (44) (72) (24) (31) --
Comprehensive Income attributed to: Parent 17,542 16,461 15,023 4,220 2,939 -30.4% Minority interests (45) (86) (93) (1) (21) 2000.0%
EPS1(NT$) 1.43 1.48 1.45 0.37 0.36 -2.7%
Year-over-Year Comparison IFRS
25
FFHC Non-consolidated Income Statement
FFHC Standalone Income Statement Summaryin NT$ million, NT$, or %
2014 2015 2016 1Q16 1Q17 Change
Operating revenues
Income from long-term investment 13,904 16,431 17,857 4,849 4,496 -7.3%
Other income1 289 213 242 2 0 -100.0%
Total revenues 14,194 16,644 18,099 4,852 4,496 -7.3%
Loss from long-term investment (8) (114) (304) (304) (33) -89.1%
Operating expenses (264) (373) (338) (79) (83) 5.1%
Other expenses and losses (159) (192) (145) (39) (40) 2.6%
Income from continued op. before tax 13,763 15,965 17,312 4,430 4,340 -2.0%
Income from continued op. after tax 14,085 16,006 17,356 4,430 4,340 -2.0%
Income from discontinued op., net of tax 0 0 0 0 0 --
Net income 14,085 16,006 17,356 4,430 4,340 -2.0%
EPS2(NT$) 1.43 1.48 1.45 0.37 0.36 -2.7%
1. Including income other than long-term investment2. EPS is adjusted retroactively for stock dividends
Full Year Results Year-over-Year Comparison
26
FFHC Balance SheetFFHC Balance Sheet Summaryin NT$ million or million shares
2014 2015 2016 1Q16 1Q17 Change
Non-consolidated Balance Sheet Data
Long-term investment 167,888 197,454 203,834 201,790 206,896 2.5%
Total non-consolidated assets 172,071 201,923 205,165 206,565 208,501 0.9%
Total liabilities 18,126 14,283 13,390 14,705 13,787 -6.2%
Total shareholders' equity 153,945 187,640 191,775 191,860 194,714 1.5%
Conolidated Balance Sheet Data
Total consolidated assets 2,355,709 2,500,096 2,541,156 2,477,174 2,566,877 3.6%
Total liabilities 2,201,332 2,312,109 2,349,127 2,284,968 2,371,930 3.8%
Total shareholders' equity 154,377 187,987 192,029 192,206 194,947 1.4%
Parent's shareholders' equity 153,945 187,640 191,775 191,860 194,714 1.5%
Minority interests 432 347 254 346 233 -32.7%
Current shares outstanding 92,593 114,611 119,769 114,611 119,768 4.5%
*figures may not match due to rounding
Full Years Result Year-over-Year Comparison
27
FFHC Key Ratios
FFHC Key RatiosFull Year Results
2014 2015 2016 1Q16 1Q17 Change
After-tax ROAA (Annualized ratio) 0.61% 0.66% 0.69% 0.72% 0.68% -5.6%
After-tax ROAE (Annualized ratio) 9.53% 9.32% 9.10% 9.28% 8.92% -3.9%
Book Per Share 16.63 16.37 16.01 16.74 16.26 -2.9%
Capital Stock 92,593 114,611 119,769 114,611 119,769 4.5%
Double leverage1 109.06% 105.23% 106.29% 105.18% 106.26% 1.0%
Group CAR2 125.34% 153.43% 139.14% 146.39% 130.82% -10.6%
Debt Ratio3 10.53% 7.07% 6.53% 7.12% 6.61% -7.2%
1. Double leverage ratio = Long-term investment / Equity2. Updated semi-annually.3. Non-consolidated basis.
Year-over-Year Comparison
28
FB Income Statement
Subject to final Reviewed
FB Comprehensive Income Statement Summary(Standalone)in NT$ million or %
2014 2015 2016 1Q16 1Q17 Change
Net interest income 27,138 27,496 27,797 6,906 7,018 1.6%
Net fee income 6,190 7,790 8,035 1,898 1,559 -17.9%
Net gain on ST invest. (151) (49) 274 25 67 168.0%
Net gain on LT invest. 666 177 433 196 78 -60.2%
Net gain on other fin. products 3,496 2,823 4,344 1,580 1,270 -19.6%
Other net income 181 349 654 93 34 -63.4%
Net revenue 37,520 38,586 41,537 10,698 10,026 -6.3%
Operating expenses (17,736) (18,997) (18,963) (4,772) (4,546) -4.7%
Pre-provisiion pre-tax profit 19,784 19,589 22,574 5,926 5,480 -7.5%
Provision expense (6,161) (3,027) (4,396) (800) (874) 9.3%
Adjustment: bad-debt recovery 2,240 2,554 2,346 570 424 -25.6%
Income before tax 15,862 19,115 20,524 5,696 5,030 -11.7%
Income tax (2,481) (3,015) (2,825) (889) (709) -20.2%
Net income 13,381 16,100 17,699 4,808 4,320 -10.1%
Other items 3,242 995 (2,099) (183) (1,577) 761.7%
Comprehensive income 16,623 17,095 15,599 4,624 2,743 -40.7%
EPS 1.81 1.93 1.99 0.54 0.49 (0.09)
*preliminary data for 1Q17
IFRSs Year-over-Year Comparison
29
FB Key RatiosFB Key Ratios
2014 2015 2016 1Q16 1Q17 Change
Loan to deposit spread 1.55% 1.63% 1.65% 1.64% 1.63% -0.61%
Net Interest Margin 1.28% 1.26% 1.26% 1.27% 1.26% -0.79%
Cost to income ratio3 47.27% 49.23% 45.65% 44.61% 45.34% 1.64%
Loan to deposit ratio1 83.03% 76.88% 79.04% 77.30% 80.48% 4.11%
NPL ratio 0.20% 0.19% 0.20% 0.19% 0.22% 15.79%
Gross Provision ratio 1.24% 1.19% 1.16% 1.19% 1.14% -4.20%
LLR ratio (excluding gov. loan) 1.37% 1.40% 1.22% 1.36% 1.18% -13.24%
Coverage ratio 680.71% 751.03% 625.14% 692.31% 537.82% -22.32%
CAR 11.50% 13.67% 13.27% 13.94% 13.31% -4.52%
Tier-1 9.02% 10.93% 10.95% 11.29% 11.11% -1.59%
ROAA2 0.60% 0.69% 0.72% 0.80% 0.68% -15.00%
ROAE2 9.40% 9.56% 9.46% 10.36% 9.00% -13.13%
1. Loan to depoist ratio = total loan / total deposit2. Annualized figures.
Year-over-Year Comparison Full Year Results
30
FB Loan Yields
FB Loan Yields2017
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1NTD Yields & Costs
Loan Rate 2.12% 2.16% 2.20% 2.18% 2.18% 2.19% 2.18% 2.06% 2.01% 1.95% 1.95% 1.91%Deposit Rate 0.60% 0.60% 0.60% 0.59% 0.59% 0.59% 0.56% 0.52% 0.49% 0.45% 0.44% 0.43%Spread 1.52% 1.56% 1.60% 1.59% 1.59% 1.60% 1.62% 1.54% 1.52% 1.50% 1.51% 1.48%
FX Yields & CostsLoan Rate 2.65% 2.51% 2.29% 2.52% 2.57% 2.31% 2.74% 2.91% 2.85% 2.89% 3.00% 3.12%Deposit Rate 0.98% 0.92% 0.84% 0.88% 0.85% 0.72% 0.83% 0.84% 0.75% 0.72% 0.73% 0.84%Spread 1.67% 1.59% 1.45% 1.65% 1.72% 1.59% 1.91% 2.07% 2.10% 2.17% 2.27% 2.28%
2014 2015 2016
31
FB Loan QualityFB NPL Migrationin NT$ million or %
2015 2016 Q1 Q2 Q3 Q4 1Q16 1Q17 Change
NPL- beginning 2,951 2,761 2,761 2,879 3,060 3,105 2,761 3,035 9.9%
Net new NPL influx 2,201 6,166 1,637 1,628 1,983 918 1,637 1,700 3.8%
Domestic 1,306 4,611 1,607 891 1,391 722 1,607 1,320 -17.9%
Overseas 895 1,555 30 737 592 196 30 380 1166.7%
Net write-offs (2,391) (5,892) (1,519) (1,447) (1,938) (988) (1,519) (1,350) -11.1%
NPL- ending balance 2,761 3,035 2,879 3,060 3,105 3,035 2,879 3,385 17.6%
Allowance for loan loss- beginning 20,089 20,738 20,738 19,932 19,451 18,276 20,738 18,973 -8.5%
Provisions for loan loss 2,919 4,238 740 971 850 1,677 740 775 4.7%
Net write-offs (2,391) (5,892) (1,519) (1,447) (1,938) (988) (1,519) (1,350) -11.1%
Others 121 (111) (27) (5) (87) 8 (27) (193) 614.8%
Allowance for loan loss- ending 20,738 18,973 19,932 19,451 18,276 18,973 19,932 18,205 -8.7%
Recovery from bad debt 2,554 2,346 569 352 277 1149 569 424 -25.5%
Domestic 2,213 2,075 546 316 253 960 546 369 -32.4%
Overseas 282 214 8 22 9 175 8 43 437.5%
Credit card 59 57 15 14 15 14 15 12 -20.0%
1. Non-consolidated basis
Year-over-Year Comparison 2016 Quarterly Full Year Results
32
First Sec. Operating Report
First Sec Income Statement Summaryin NT$ million or %
2014 2015 2016 1Q16 1Q17 Change
Brokerage commission 803 Brokerage commission 753 645 179 176 -1.7%Net interest income 335 Net interest income 315 292 71 69 -2.8%Underwriting commission 38 Underwriting commission 53 23 6 14 133.3%Priciple transaction gains, net 187 Transaction gains through F/V, net 217 (12) (12) 123 --Other operating income 63 Other operating income 125 93 6 11 83.3%Total operating income 1,426 Total operating income 1463 1,041 250 393 57.2%
Total operating expenses (1,367) Total operating expenses (1,363) (1,288) (329) (297) -9.7%Non-operating income 54 Non-operating income 64 42 4 14 250.0%Income before tax 114 Income before tax 164 (205) (74) 110 -248.6%Income tax (40) Income tax 10 (24) 0 (11) --
0 Cummulative effect of change inaccounting principles
0 0 0--
Net income 74 Net income 174 (229) (74) 99 --
First Sec Key Ratios First Sec Key RatiosROAE (Annualized) 1.14% ROAE (Annualized) 2.65% -3.65% -4.60% 6.60%ROAA (Annualized) 0.40% ROAA (Annualized) 0.92% -1.30% -1.64% 2.28%Brokerage market share 1.57% Brokerage market share 1.58% 1.45% 1.57% 1.59%Margin loan market share 2.41% Margin loan market share 2.56% 2.99% 2.74% 2.97%
Year-over-Year Comparison
Cummulative effect of change in accountingprinciples
Full Yr Full Year Results
33
FSITC Operating Report
FSITC Income Statement Summaryin NT$ million or %
2014 2015 2016 1Q16 1Q17 Change
Total operating income
Management fee 513 464 440 109 112 2.8%
Sales service fee 1 1 5 0 1 --
Total operating income 514 465 445 109 113 3.7%
Operating expenses (433) (370) (380) (88) (97) 10.2%
Non-operating income 14 26 11 2 2 0.0%
Income before tax 95 120 76 22 18 -18.2%
Income tax (16) (18) (12) (3) (3) 0.0%
Income after tax 79 102 64 19 15 -21.1%
Cummulative effect of change in accounting principles 0 0 0 0 0 --
Net income 79 102 64 19 15 -21.1%
y
FSITC Key RatiosAUM 72,651 97,016 94,461 93,564 94,858 1.4%
AUM Ranking 11 8 8 8 7 --
1. Non-consolidated basis
Year-over-Year Comparison Full Yeart Results
34
First–Aviva Operating ReportFirst-Aviva Financial Results Summaryin NT$ million or %
2014 2015 2016 1Q16 1Q17 ChangeIncome Statement SummaryOperating Revenue 14,903 11,576 7,520 1,467 3,196 117.9%Premium Income 13,436 11,820 7,235 2,290 3,484 52.1% Other insurance income 136 233 244 59 64 8.5% Net Investment Income 1,331 (476) 41 (883) (352) -60.1%Operating Cost (14,531) (11,164) (7,157) (1,398) (3,133) 124.1% Reinsurance commission (20) (27) (34) (8) (9) 12.5% Reserves (1,623) (2,994) 2,037 1,330 (930) -169.9% Claims (12,230) (7,412) (8,502) (2,553) (1,984) -22.3% Commission (633) (691) (586) (152) (185) 21.7% Others (25) (40) (72) (15) (25) --Operating Expenses (397) (501) (513) (119) (139) 16.8% Sales related expenses (88) (113) (83) (17) (25) 47.1% Management expenses (309) (388) (430) (102) (114) 11.8% Other expense 0 0 0 0 0 #DIV/0!Profit/Loss of Operation (25) (89) (150) (49) (76) 55.1%Non-Operating Profit 11 0 0 0 0 --
Profit/Loss Before Tax (14) (89) (150) (49) (76) 55.1%Income tax (1) (1) (3) 0 12 --Net Income after tax (15) (90) (147) (49) (64) 30.6%
Key RatiosROAE(Annualized ratio) -1.60% -11.26% -23.91% -27.92% -51.44% 84.2%
ROAA(Annualized ratio) -0.05% -0.28% -0.45% -0.60% -0.80% 33.3%
* FFHC claims 51% of First-Aviva operating results.
Year-over-Year ComparisonFull Year Result
Q&A
投影片編號 1DisclaimerContents投影片編號 4 1Q 2017 - Resumed Loan Demand 投影片編號 6 1Q 2017 Key Figures Net Income & Comprehensive Income Net Income Breakdown by Subsidiaries*投影片編號 10FFHC & First Bank Profitability�-After TaxFB 1Q17 Pre-tax Profit FB 1Q17 Loan Book MixFB Loan Breakdown�-QoQ Comparison FB 1Q17 LDR, SPREAD &NIMFB 1Q17 Deposit MixFB 1Q17 Fee Income BreakdownFB 1Q17 Cost-to-Income RatioFB 1Q17 Asset QualityFB NPL Migration by SectorsCAR & Core Capital Shareholder Return投影片編號 23投影片編號 24投影片編號 25投影片編號 26投影片編號 27投影片編號 28投影片編號 29投影片編號 30投影片編號 31投影片編號 32投影片編號 33投影片編號 34投影片編號 35
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