TS Financial Holding (2887) Q1 2024 earnings summary

Executive summary

• Consolidated net income for Q1 2024 was NT$5,011.8 million, slightly down from NT$5,064.4 million in Q1 2023.

• Total comprehensive income for Q1 2024 was NT$5,017.8 million, compared to NT$7,999.1 million in Q1 2023.

• Basic and diluted EPS for Q1 2024 were NT$0.36, compared to NT$0.37 in Q1 2023.

Financial highlights

• Net interest income rose to NT$8,266.9 million, up 12.7% year-over-year.

• Net income other than net interest income was NT$13,052.9 million, up 9.8% year-over-year.

• Net revenue and gains reached NT$21,319.8 million, a 10.9% increase year-over-year.

• Total assets as of March 31, 2024 were NT$3,202.7 billion, up from NT$2,892.4 billion a year earlier.

• Return on total assets (consolidated) was 0.19% after tax for Q1 2024.

Outlook and guidance

• The independent auditor’s review concluded the financial statements present fairly, in all material respects, the financial position and performance for Q1 2024.

• The group continues to monitor regulatory changes, including the implementation of IFRS 17 and IFRS 18, and is assessing their future impact.