Taiwan Cooperative Financial Holding (5880) investor relations material

Executive summary

• Consolidated net profit after tax rose 8.27% year-over-year to NT$21.45bn, with EPS after tax at NT$1.36, up 10.57% year-over-year.

• Total assets increased 4.17% year-over-year to NT$5,381bn, and equity attributable to owners grew to NT$279.25bn.

• Total comprehensive income surged 48% to NT$36.33bn, driven by improved net income and other comprehensive gains.

• The core banking subsidiary contributed over 92% of group profits, with its net profit after tax up 9.73% year-over-year.

• Annualized ROE and ROA were 7.87% and 0.41%, respectively.

Financial highlights

• Net interest income for the core bank rose 12.98% year-over-year to NT$34.53bn.

• Total net revenues increased 13% to NT$74.39bn.

• Net income attributable to owners rose 11% to NT$21.29bn.

• EPS after tax improved to NT$1.36 from NT$1.23, a 10.57% increase.

• Operating expenses increased 3.13% year-over-year, mainly due to higher bonuses, compensation, and business taxes.

Segment performance

• Banking contributed NT$23.18bn in pre-tax income, while insurance contributed NT$2.03bn.

• Taiwan Cooperative Bank (TCB) net profit after tax reached NT$20.80bn, up 9.73% year-over-year.

• TCB's loans grew 2.11% year-over-year to NT$3,146bn, driven by consumer and overseas loans.

• Subsidiaries such as TCS, TCBF, and TCB Life also reported profit growth, with TCS net income up 98.15% year-over-year.

• Securities net income was NT$427.7mn.