Taishin FHC's Core Businesses Achieve Stable Growth through Active Overseas Expansion and Promotion of Digital Banking
Taishin FHC held its Q2 analyst meeting today (23rd). The conference was hosted by President Joseph Jao, Retail Banking Group CEO Oliver Shang, CFO Welch Lin, President Lung-Yu Chung of Taishin Bank, and Retail Banking Head Office CEO Spike Wu of Taishin Bank. Joseph Jao indicated that Taishin Bank's lending in the first half increased 8% compared with the same period last year, net interest income increased 4.4%, and he was optimistic about stable growth of loans in the second half of the year. Oliver Shang said that Taishin Bank has been successful in the development of digital banking. The number of digital banking accounts on Richart leads the industry, and Taishin Bank will soon become the first in the industry to offer an inter-bank cardless withdrawal function on its ATMs.
Welch Lin said that Taishin FHC's net profit in the first half of the year was NT$6.8 billion, EPS was NT$0.63, and ROE was 10.29%; net income structure consisted mostly of net interest income at 50.9%, up 2.9% compared with the same period last year, followed by net fee income at 32.1%. Taishin FHC’s capital adequacy ratio was 116.3% and the bank’s CAR 13.6%, which reflected a healthy capital structure. Taishin Bank's nonperforming loan ratio was 0.27% and the coverage ratio 505.9%, maintaining good credit asset quality.
Joseph Jao said that after Taishin Bank opened its Tokyo branch last year (2016), its Brisbane branch was also approved by Australia's competent authority and opened on the 31st last month (July). They are stepping up the pace in preparing the Long An branch in Vietnam, and Joseph Jao stressed that Taishin FHC will continue work towards becoming an international financial institution. With regard to Taishin Securities acquiring Ta Chong Securities, Welch Lin said that the acquisition will be completed according to schedule on the 28th this month.
Facing the trend of digital banking, Oliver Shang indicated that Richart is already a leading digital banking brand in the market, and recently won the Red Dot Award for its outstanding design, winning glory for Taiwan through a financial product design in an international award.
Oliver Shang also explained that Taishin Bank has actively developed new payment services in recent years. LETSPAY, launched in February last year (2016), was the first electronic wallet in Taiwan to combine social network with payment, which currently can be used at FamilyMart, and the bank plans to expand it to 7-11, Hi-Life and OK Mart. Taishin Bank will launch a new e-payment brand ”pay+” this year (2017) with the concept of open payment, and will integrate a variety of payment tools ranging from credit card, bank account, and electronic payment. ”pay+” will provide a better payment environment and experience regardless of whether the two parties have a Taishin Bank credit card or account. As for cross-border expansion, Taishin Bank began working with Alipay in cross-border O2O business last year (2016), providing over 25,000 locations that accept Alipay. Taishin Bank currently provides the most payment locations in Taiwan among Alipay's partners, and further gained approval from the competent authority to cooperate with China's We Chat Pay and South Korea's Hana Bank, and will begin providing domestic vendors with payment services from these two major providers at the end of this year. Oliver Shang stressed that Taishin FHC will closely link together innovative technologies, financial services, and customers' needs to provide customers with high quality digital banking services, while maintaining its position as a leading digital banking brand.
Welch Lin said that Taishin FHC's net profit in the first half of the year was NT$6.8 billion, EPS was NT$0.63, and ROE was 10.29%; net income structure consisted mostly of net interest income at 50.9%, up 2.9% compared with the same period last year, followed by net fee income at 32.1%. Taishin FHC’s capital adequacy ratio was 116.3% and the bank’s CAR 13.6%, which reflected a healthy capital structure. Taishin Bank's nonperforming loan ratio was 0.27% and the coverage ratio 505.9%, maintaining good credit asset quality.
Joseph Jao said that after Taishin Bank opened its Tokyo branch last year (2016), its Brisbane branch was also approved by Australia's competent authority and opened on the 31st last month (July). They are stepping up the pace in preparing the Long An branch in Vietnam, and Joseph Jao stressed that Taishin FHC will continue work towards becoming an international financial institution. With regard to Taishin Securities acquiring Ta Chong Securities, Welch Lin said that the acquisition will be completed according to schedule on the 28th this month.
Facing the trend of digital banking, Oliver Shang indicated that Richart is already a leading digital banking brand in the market, and recently won the Red Dot Award for its outstanding design, winning glory for Taiwan through a financial product design in an international award.
Oliver Shang also explained that Taishin Bank has actively developed new payment services in recent years. LETSPAY, launched in February last year (2016), was the first electronic wallet in Taiwan to combine social network with payment, which currently can be used at FamilyMart, and the bank plans to expand it to 7-11, Hi-Life and OK Mart. Taishin Bank will launch a new e-payment brand ”pay+” this year (2017) with the concept of open payment, and will integrate a variety of payment tools ranging from credit card, bank account, and electronic payment. ”pay+” will provide a better payment environment and experience regardless of whether the two parties have a Taishin Bank credit card or account. As for cross-border expansion, Taishin Bank began working with Alipay in cross-border O2O business last year (2016), providing over 25,000 locations that accept Alipay. Taishin Bank currently provides the most payment locations in Taiwan among Alipay's partners, and further gained approval from the competent authority to cooperate with China's We Chat Pay and South Korea's Hana Bank, and will begin providing domestic vendors with payment services from these two major providers at the end of this year. Oliver Shang stressed that Taishin FHC will closely link together innovative technologies, financial services, and customers' needs to provide customers with high quality digital banking services, while maintaining its position as a leading digital banking brand.