SinoPac Financial Holdings (2890) Q3 2024 earnings summary

Executive summary

• Consolidated net income for the nine months ended September 30, 2024 was NT$18.45 billion, up from NT$15.71 billion year-over-year.

• Total comprehensive income reached NT$24.62 billion, compared to NT$20.08 billion in the prior year.

• Basic and diluted EPS for the nine months were NT$1.45, up from NT$1.26 year-over-year.

Financial highlights

• Net interest revenue for the nine months was NT$18.86 billion, nearly flat year-over-year.

• Net revenues other than interest increased to NT$31.14 billion from NT$22.41 billion year-over-year.

• Total net revenue rose to NT$49.99 billion from NT$41.03 billion year-over-year.

• Profit before tax was NT$22.59 billion, up from NT$18.24 billion year-over-year.

• Total assets as of September 30, 2024 were NT$3.08 trillion, up from NT$2.74 trillion a year earlier.

Outlook and guidance

• The group continues to monitor the impact of new IFRS standards and expects no material impact from upcoming changes.

• Ongoing assessment of economic indicators, inflation, and interest rate fluctuations is factored into forward-looking estimates.