Fubon Financial (2881) Q1 2026 earnings summary

Executive summary

• Net income for Q1 2026 exceeded TWD 33.6 billion, a significant turnaround from a net loss in Q1 2025, with EPS of TWD 2.40; adjusted net income (including FVOCI gains/losses) reached TWD 66.35 billion and adjusted EPS TWD 4.74, both record highs.

• Total assets surpassed TWD 13.12 trillion as of March 31, 2026, up over 8% year-over-year; net worth exceeded TWD 1 trillion, up 11.5%.

• All major subsidiaries reported year-over-year growth, with several achieving record high net incomes.

• Recognized as "Most Honored Company" in insurance sector for 5 consecutive years.

• The group adopted IFRS 17 for insurance contracts on January 1, 2026, resulting in restated comparative figures and significant changes in insurance-related accounts.

Financial highlights

• Cash dividend per share of TWD 4.25 for 2025, representing a 50.8% payout ratio.

• Adjusted net income includes TWD 32.79 billion from FVOCI equity disposal gains/losses.

• Annualized ROA was 1.04% and ROE 14%; adjusted for FVOCI, ROA exceeded 2% and ROE over 27%.

• Adjusted book value per share at TWD 90.6.

• Net interest revenue for Q1 2026 was TWD 55.1 billion, up 21% year-over-year.

Outlook and guidance

• Adjusted net income and EPS provide a more comprehensive view of financial performance and dividend capacity under the new accounting framework.

• Subsidiaries are expected to maintain growth momentum, supported by strong capital markets and robust fee and interest income.

• Continued focus on digital transformation, wealth management, and market share expansion.

• Ongoing ESG initiatives and sustainability targets for 2026 and 2030.

• Ongoing focus on risk management, capital adequacy, and compliance with evolving regulatory standards, including further IFRS changes.