Taishin FHC 1H19 Net Fee Income increased 4.8% YOY, reaching a record high. Adopting Equator Principles, bolstering SMEs, and thriving on capital repatriation
Taishin FHC today released its 1H19 operational results at its analyst meeting. Taishin reported 1H19 net profits of NT$8.2bn, up 5% YOY; and EPS of NT$0.7, up 2.9% YOY. Half-year net fee income has this year reached a record high since TFHC’s establishment, driven by strong fee growth from wealth management, loan syndication, and credit card business. Total revenue rose 6.4% YOY, boosted by 28.7% YOY growth of investment and trading income.
Taishin FHC’s President Welch Lin, CFO Carol Lai, and CIO Eric Chien, alongside Taishin Bank’s President Oliver Shang, and Wholesale Banking Group CEO Sharon Lin, jointly presented to the analysts and investors. Welch Lin attributed the 1H19 growth to solid performance across the subsidiaries, led by Taishin Bank which delivered broad-based progress in its loans, deposits, wealth management, and credit card businesses. Year-over-year, total loan increased by 8.6%, corporate loan soared by 12.7%, and total deposit grew by 13.7%. The credit card business maintained strong momentum and reported impressive growth of 24.9% YOY in spending and 26.3% YOY in gross fee income, among other expansions measured by card issuance, active cards, and number of merchants served.
Welch Lin highlighted Taishin's strong capital position as of the end of 1H19 with FHC CAR at 117.3% and bank BIS at 14.3%. The Bank's asset quality remained benign with NPL% of 0.15% and coverage at 890.3%.
During today’s analyst meeting, Welch Lin announced that, in an effort to deploy global sustainability initiatives, Taishin Bank will sign up to the Equator Principles by the end of 2019 and implement ESG-based policies towards Project Finance practices. Taishin proudly joins hands with the government, fellow financial institutions, and our clients to spur the development of responsible economic, environmental, and social sustainability frameworks.
Amid financial market volatility complicated by increasing US-China trade friction and escalating Hong Kong anti-extradition bill protests, Welch Lin reiterated that Taishin continues to watch these key indicators like a hawk and stands prepared with strict risk control in pursuit of a business growth fueled by promising repatriation of overseas funds.
According to the Ministry of Economic Affairs (MOEA), close to 120 returning Taiwan companies have thus far directed inward investment amounting to over NT$560 billion, reviving supply chains in respective industrial clusters. Sharon Lin today elaborated that Taishin’s Corporate Banking collaborates well to achieve growth, already witnessing 12.7% YOY increase in corporate loan. In addition, Taishin offers dedicated financing programs to SMEs in full support of the government’s mobilizing of resources to enhance SMEs’ competitiveness, enterprises that are the backbone of our economy. Indeed, in an attempt to deliver financing solutions to SMEs, Taishin recently rolled out a multi media campaign: “Small but great. SMEs: changing the world, supported by Taishin.”
Taishin FHC’s President Welch Lin, CFO Carol Lai, and CIO Eric Chien, alongside Taishin Bank’s President Oliver Shang, and Wholesale Banking Group CEO Sharon Lin, jointly presented to the analysts and investors. Welch Lin attributed the 1H19 growth to solid performance across the subsidiaries, led by Taishin Bank which delivered broad-based progress in its loans, deposits, wealth management, and credit card businesses. Year-over-year, total loan increased by 8.6%, corporate loan soared by 12.7%, and total deposit grew by 13.7%. The credit card business maintained strong momentum and reported impressive growth of 24.9% YOY in spending and 26.3% YOY in gross fee income, among other expansions measured by card issuance, active cards, and number of merchants served.
Welch Lin highlighted Taishin's strong capital position as of the end of 1H19 with FHC CAR at 117.3% and bank BIS at 14.3%. The Bank's asset quality remained benign with NPL% of 0.15% and coverage at 890.3%.
During today’s analyst meeting, Welch Lin announced that, in an effort to deploy global sustainability initiatives, Taishin Bank will sign up to the Equator Principles by the end of 2019 and implement ESG-based policies towards Project Finance practices. Taishin proudly joins hands with the government, fellow financial institutions, and our clients to spur the development of responsible economic, environmental, and social sustainability frameworks.
Amid financial market volatility complicated by increasing US-China trade friction and escalating Hong Kong anti-extradition bill protests, Welch Lin reiterated that Taishin continues to watch these key indicators like a hawk and stands prepared with strict risk control in pursuit of a business growth fueled by promising repatriation of overseas funds.
According to the Ministry of Economic Affairs (MOEA), close to 120 returning Taiwan companies have thus far directed inward investment amounting to over NT$560 billion, reviving supply chains in respective industrial clusters. Sharon Lin today elaborated that Taishin’s Corporate Banking collaborates well to achieve growth, already witnessing 12.7% YOY increase in corporate loan. In addition, Taishin offers dedicated financing programs to SMEs in full support of the government’s mobilizing of resources to enhance SMEs’ competitiveness, enterprises that are the backbone of our economy. Indeed, in an attempt to deliver financing solutions to SMEs, Taishin recently rolled out a multi media campaign: “Small but great. SMEs: changing the world, supported by Taishin.”