CTBC Financial Holding Co (2891) Q1 2025 earnings summary

Executive summary

• Q1 2025 net profit was NT$19.9 billion, with after-tax EPS of NT$1.02 and ROE of 17.3%, supported by strong bank performance and a stable dividend policy; consolidated net income was NT$20.33 billion, down from NT$21.17 billion in Q1 2024.

• Bank segment drove results with after-tax net profit of NT$13.4 billion, up 11% YoY; Taiwan Life contributed NT$5.6 billion, down 27% YoY due to a high base effect.

• Group remains bank-centric, with a 70:30 profit split between banking and insurance/investment.

• Board approved a cash dividend of NT$2.30 per share, a payout ratio of 63.2%.

• Total assets reached NT$8.98 trillion as of March 31, 2025.

Financial highlights

• Q1 net profit up 49% QoQ but down 5% YoY due to high base effect; consolidated net profit for Q1 2025 was NT$19.9 billion.

• EPS for Q1 2025 was NT$1.02; full-year 2024 EPS was NT$3.64.

• ROE for Q1 2025 was 17.3%; ROAA was 0.91%.

• Net interest income up 11% YoY; fee income up 12% YoY.

• Dividend yield for 2024 was 6.2%.

Outlook and guidance

• NIM guidance for 2025 remains at 1.63%-1.66%, unchanged despite interest rate outlook.

• Cost-income ratio guidance for the bank is 52%-54% for the year.

• Credit cost guidance for the year is 25-30 basis points.

• Fee income growth for the full year expected to be high single-digit.

• The group is monitoring IFRS 17 and IFRS 18 impacts and managing climate-related risks.