TS Financial Holding (2887) Q3 2024 earnings summary

Executive summary

• Consolidated net income for the nine months ended September 30, 2024, was NT$16.66 billion, up from NT$12.10 billion year-over-year.

• Total assets reached NT$3.3 trillion as of September 30, 2024, compared to NT$2.99 trillion a year earlier.

• Earnings per share (EPS) for the nine-month period was NT$1.17, up from NT$0.82 year-over-year.

Financial highlights

• Net interest income for the nine months was NT$25.91 billion, up from NT$22.53 billion year-over-year.

• Net income from insurance operations rose to NT$19.29 billion from NT$12.89 billion year-over-year.

• Net service fee and commission income increased to NT$8.94 billion from NT$8.41 billion year-over-year.

• Total net revenue and gains for the nine months were NT$66.17 billion, up from NT$53.21 billion year-over-year.

• Operating expenses for the nine months were NT$27.09 billion, up from NT$24.22 billion year-over-year.

Outlook and guidance

• The company’s board approved a merger with Shin Kong Financial Holding, pending regulatory approval.

• The merger will be executed through a share swap, with the company as the surviving entity.