SinoPac Financial Holdings (2890) Q1 2025 earnings summary

Executive summary

• Annualized ROE reached 13.95% in 1Q25, with net revenues and net income hitting quarterly record highs.

• Consolidated net income for Q1 2025 was NT$7.26 billion, up from NT$6.91 billion in Q1 2024, with basic EPS rising to NT$0.57 from NT$0.54.

• Total assets grew to NT$3.19 trillion (+4.1% QoQ, +10.8% YoY), compared to NT$2.88 trillion a year earlier.

• The group completed the acquisition of Amret Plc., consolidating its results from January 2025.

• The group and subsidiaries received 31 awards in 1Q25 for digital innovation and wealth management.

Financial highlights

• Net revenues for 1Q25: NT$18,693 million (+29.5% QoQ, +11.6% YoY).

• Net income for 1Q25: NT$7,202 million (+90.5% QoQ, +4.2% YoY).

• EPS for 1Q25: NT$0.57 (up from NT$0.30 in 4Q24).

• Net interest revenue rose to NT$8.47 billion, up 48% year-over-year.

• Profit from continuing operations before tax was NT$8.59 billion, up from NT$8.16 billion.

Outlook and guidance

• Net interest income expected to benefit from continued lower funding costs and integration of Amret.

• The group continues to assess the impact of new IFRS standards effective in 2026 and is monitoring regulatory changes, including Pillar Two income tax legislation.

• Dividend policy emphasizes stock dividends to support capital needs, with cash dividends declared when excess cash is available.