台新金控

(2023/11/14) Taishin Financial Holding Co., Ltd. (TFHC) today held its 3Q23 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 for 9M23. Welch Lin highlighted that, in 3Q23, while worldwide inflation and declining economic growth persisted, Taiwan’s economic slowdown tapered thanks to recoveries in exports and production, driven by demands in the technology sector. Of course, Lin reminded attendees, Taishin keeps a cautious eye on the ongoing turmoil in the Middle East and its impacts on global markets.

TFHC’s 9M23 net income after tax was NT$12.1bn, the EPS was NT$0.85, the ROE was 8.90%, and the book value per common share was NT$13.05. As regards the asset quality and capital adequacy, the Group maintained a strong capital position, with TFHC’s CAR at 137.0%, Taishin Bank (TSIB)’s BIS at 14.6%, Taishin Securities (TSS)’ CAR at 351%, and Taishin Life (TS Life)’s RBC at 361%. TSIB's asset quality remained benign, with NPL% at 0.13% and coverage at 1083.1%.

Core subsidiary TSIB maintained solid earnings momentum. Stable lending momentum supported a total loan increase of 5.0% YTD, with NTD loan growing by 6.8% YoY and FCY loan decreasing by 9.7% YoY. Total deposit increased by 12.4% YoY, with LTD at 71.8%. In 9M23, TSIB’s NFI reached NT$9.1bn, up 5.1% YoY, on the back of higher bancassurance fees. The credit card business saw a 19.3% YoY growth in card spending and a 31.9% YoY growth in gross fee income. With over 168,000 merchants served and over 4.47 million active cards, TSIB remains a leader of the industry.

TS Life benefited from a decent business momentum bolstered by newly introduced products and bancassurance sales channels. The 9M23 Total Premium was NT$21.443bn, including an FYP of NT$9.54bn (ranked 13th among peers), with a market share of 1.85% (vs. ranked 14th and with a 1.7% market share in Dec. 2022). Cost of liability decreased to 3.82% in 9M23 (vs. 3.92% in 9M22).

TSS’ 9M23 net income after tax was NT$1.1bn, an increase of 114% YoY, boosted by higher trading income and brokerage fees. To succeed in the AI revolution, TSS this year introduced its in-house-developed app, “Woojii,” which offers comprehensive features such as stock monitoring and order placement, AI stock picking, portfolio management, etc. The app gives investors access to a wealth of stock market data visualizations and allows for Big Data-based stock picking according to customizable preferences, aiming to encourage more digital natives to invest, thereby strengthening stock markets.

Welch Lin mentioned that, on top of business operations, TFHC is equally committed to ESG sustainable development. This October, in the race to decarbonization, Chairman Thomas Wu led TFHC’s Board members and executives to Taitung to plant 4,000 trees and sign an MOU with Taitung County Government, National TaiTung University, and Green Hope Spring, with the signees teaming up to promote forest conservation, environmental sustainability, and social welfare.

Welch Lin gladly shared that, as the 19th Asian Games in Hangzhou closed, Taishin- sponsored female Karate athletes Gu Shiau-shuang and Ku Tsui-ping took home gold and silver medals, respectively. The male Karate athlete Shih Cheng-chung, who was competing as a first-timer in the Asian Games, also placed in the top 4. Welch Lin rejoiced over their excellent performances and reiterated the importance of Taishin’s continuous support for these and other athletes. For decades, Taishin has been supporting athletes’ development in a wide range of sports, including karate, golf, basketball, road running, etc. Since 2005, Taishin has been operating the “Inspiration Campaign” in GuoSing Township, NanTou County, providing Karate training in pursuit of further education opportunities for under-privileged school children. Thus far, with total donations surpassing NT$100mn, more than 800 children have had the life-changing experience of internationally representing Taiwan.

Welch Lin also reminded attendees that Taishin Charity Foundation’s 14th annual “Power of Love” campaign is open till the end of November for the public to cast votes online in support of their favored NGOs. Welch Lin encouraged the public to partake in the meaningful campaign to direct resources to a multitude of public welfare proposals, to help shed light on small social welfare organizations, and to get involved in collaborative social causes.