台新金控

Taishin Financial Holding Co., Ltd. (TFHC) today held its 3Q21 analyst meeting online. TFHC’s President Welch Lin, CFO Carol Lai, and Chief Investment Officer Eric Chien, alongside Taishin Bank’s President Oliver Shang, Wholesale Banking Group CEO Sharon Lin, and Taishin Life’s CEO Louis Heng jointly presented at the live webcast to address the operating results of 9M21. Welch Lin highlighted that Taiwanese exports and household consumption have both continued to rise following the easing of pandemic-related restrictions in 3Q21, and TFHC’s subsidiaries, including Taishin Bank (TSIB), Taishin Life (TS Life), and Taishin Securities (TSS), have recorded solid growth. For 9M21, the Group delivered a net income after tax of NT$17.7bn, up by 51.1% YoY, or up by 10% YoY (NT$12.9bn) when excluding the one-time items that resulted from the completion of the acquisition of Prudential Life Insurance Company of Taiwan Inc. and the initiation of the divestment of Taishin’s Chang Hwa Bank stakes (both 2Q21). The EPS was NT$1.44, the ROE was 14.73%, and the book value per common share was NT$13.45.

Welch Lin pointed out that in 9M21, TFHC’s total revenue of NT$41.38bn (+23.1% YoY) was supported by stable growth in both net interest income and net fee income. Wealth management’s 9M21 net fees of NT$6.8bn (+33.5% QoQ) reached a record high, boosted by strong bancassurance sales in 3Q21. Subsidiary TSIB’s deposit grew by 6.7% YoY, and its total loan increased by 9.1% YoY, with FCY and NTD loan up by 13.5% and 8.2%, respectively. TSIB’s credit card business remains a leader of the industry, with over 160,000 merchants served (+6% YTD) and nearly 4.05 million active cards. The Group maintained a strong capital position, with FHC CAR at 122.6% and bank BIS at 14.8%. TSIB's asset quality remained benign, with NPL% at 0.12% and coverage at 1038%.

Subsidiary TSS’ 9M21 net fee income grew 95.4% YoY, lifted mainly by robust brokerage fees (which more than doubled YoY on the back of the high trading volume in 9M21), while its brokerage business market share reached 2.37% in 9M21. At the end of October, TSS’ performance as a lead underwriter was ranked 3^rd in terms of the YTD deal amount and 4^th in the number of deals. TSS’ 9M21 net income after tax of NT$1.17bn increased by 124% YoY and accounted for 7% of the Group’s net profit. Supported by the Group’s resources and TSIB’s highly efficient bancassurance distribution channel, TS Life’s 3Q21 FYP multiplied by 11 times YoY (NT$3.5bn), and the total premium of NT$7.1bn represented a 78% YoY increase. TS Life’s 3Q21 net income after tax reached NT$5bn.

TSIB’s overseas expansion is picking up pace. Following the opening of the Bangkok representative office in late June, the Labuan branch and the Kuala Lumpur marketing office are scheduled to open on November 26^th. After having successfully overcome many significant challenges posed by the pandemic, the new branches will expand the existing platform of representative offices and branches located in Hong Kong, Singapore, Tokyo, and Brisbane; together they will jointly provide superior international financial services. Additionally, given China’s status as the world’s second largest economy and Shanghai’s status as a key international financial hub, TSIB’s board approved in October to begin the process of upgrading the Shanghai representative office into a fully-fledged branch, aiming to enhance TSIB’s cross-border platforms in the Asia region in order to better meet Taiwanese corporations’ financial needs arising from cross-strait operations.

Welch Lin also highlighted that TFHC continues to work ceaselessly to further its ESG commitments and reminded those present that, for the fourth consecutive year, the Group had been selected as a constituent of both the DJSI World Index and the DJSI Emerging Markets Index. Through its ESG actions, TFHC has received widespread recognition as a leader in the industry; it is present on multiple ESG indices and has won many awards, including the 2021 TAISE (Taiwan Institute for Sustainable Energy) “Sustainability Action Gold Award for Social Inclusion” and the “Bronze Award for Economic Development.” CommonWealth Magazine included TFHC on its list of the "Top 50 Enterprises of Excellence in Corporate Social Responsibility,” and TFHC was the proud recipient of the 2021 BSI (British Standards Institution) “Sustainable and Resilient Navigator Award.” Additionally, TFHC is a founding member of the Taiwan Alliance of Net Zero Emission, supporting the Net Zero 2030/2050 Initiative and working to reduce Taiwan's net carbon emissions to zero. Moving forward, TFHC will uphold the standards set by international ESG trends to enhance sustainable developments, and it will fulfill its responsibilities as a financial intermediary, helping corporate clients manage sustainability transitions while continuing to live up to its stakeholders’ expectations.