Taiwan Business Bank (2834) Q2 2024 earnings summary

Executive summary

• Consolidated financial statements reviewed for the six months ended June 30, 2024 and 2023, with no material misstatements identified by independent auditors.

• The bank operates through a network of 124 domestic branches, 8 overseas branches, and multiple subsidiaries in leasing, microfinance, consulting, and venture capital.

Financial highlights

• Total assets reached NT$2,266,425,928 thousand as of June 30, 2024, up from NT$2,089,567,541 thousand a year earlier.

• Net income for the six months ended June 30, 2024 was NT$6,244,079 thousand, compared to NT$6,202,357 thousand for the same period in 2023.

• Net interest revenue for the six months was NT$9,246,773 thousand, down from NT$9,646,077 thousand year-over-year.

• Basic earnings per share for the six months was NT$0.76, unchanged from the prior year.

• Total equity attributable to owners increased to NT$125,634,509 thousand as of June 30, 2024.

Outlook and guidance

• The bank continues to focus on supporting small and medium-sized businesses and expanding its domestic and international presence.

• Adoption of new IFRS standards is not expected to have a significant impact on future financial statements.