E.SUN Financial Holding Company (2884) Q3 2025 earnings summary

Executive summary

• Net profit for the first nine months of 2025 reached TWD 26.2 billion, up 25.4% year-on-year, with EPS of TWD 1.62 and strong growth across all core businesses.

• Net fee income and wealth management fee income set new records, with bancassurance growing by 26%.

• Overseas expansion included the opening of the Dallas representative office and a planned acquisition of Mercuries Life Insurance via share swap.

• Recognized internationally, including being named best private bank in 2025 and receiving the Jade Award.

• Completed the acquisition of E.SUN Asset Management in July 2025, contributing to segment expansion.

Financial highlights

• Net revenue reached TWD 67.8 billion, up 15.6% year-on-year; net interest income grew 18.9% to TWD 29.6 billion.

• Wealth management fee income reached TWD 10.9 billion, up 11.2% year-on-year; credit card fee income up 9.4%.

• Cost-income ratio improved to 47.3% for the first nine months.

• Book value per share rose to TWD 16.08 as of September 2025.

• Total deposits and remittances grew to TWD 3.56 trillion, up from TWD 3.24 trillion a year earlier.

Outlook and guidance

• Optimistic about full-year performance, expecting continued strong results and further diversification with the Mercuries Life acquisition.

• Cost management remains a focus, with expense growth targeted to remain in single digits.

• Forecasts stable NT dollar interest rates and four Fed rate cuts in the US, expecting NIM to improve by 2-5 basis points by next year.

• Pro forma post-merger CAR projected at 117.5%, net worth ratio at 16.8%, and double leverage ratio at 112.5%.

• Management continues to monitor the impact of global tax and IFRS changes, with no material effect expected in the near term.