Taiwan Cooperative Financial Holding (5880) Q4 2024 earnings summary

Executive summary

• Consolidated net profit after tax rose 10.80% year-over-year to NT$19.81bn, with EPS after tax at NT$1.26 and total assets reaching NT$5,166bn.

• Annualized ROE and ROA were 7.84% and 0.40%, respectively, reflecting improved profitability.

• Core subsidiary TCB's net profit after tax increased 16.25% year-over-year to NT$18.95bn, driven by higher net fee income and financial instrument gains.

Financial highlights

• Consolidated net income after tax grew from NT$17,878mn in 2023 to NT$19,809mn in 2024.

• EPS increased 11.50% year-over-year to NT$1.26.

• Net asset value per share rose 2.33% to NT$16.69.

• TCB's net revenue increased 5.88% year-over-year, with net fee income up 34.50%.

Outlook and guidance

• Business volumes are expected to continue growing, with strong momentum in large business, consumer, and government loans.

• Continued focus on sustainable development and ESG initiatives, as evidenced by multiple awards.