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 ROE of 13.6%.

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

• Opened Dallas representative office, expanding North American presence and cross-border financial services.

• Announced acquisition of Mercuries Life Insurance via share swap, pending shareholder and regulatory approval.

• Received international recognition for outstanding performance and ESG initiatives.

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 increased 11.2% year-on-year; credit card fee income up 9.4%.

• Loan balance grew by 10.7% to TWD 2.6 trillion; deposit balance grew by 10% year-on-year.

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

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

Outlook and guidance

• Optimistic about full-year performance, expecting to maintain strong results and stable cost management.

• Acquisition of Mercuries Life expected to enhance scale and diversify the financial ecosystem.

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

• NIM expected to improve by 2-3 basis points by year-end and 4-5 basis points next year.

• Management continues to monitor regulatory and tax changes, with no material effect expected in the near term.