TS Financial Holding (2887) Q4 2024 earnings summary

Executive summary

• Consolidated net income rose to $20.07 billion, up 37% year-over-year, with total comprehensive income at $21.85 billion for 2024.

• Earnings per share increased to $1.39 from $0.97, reflecting strong profitability.

• The group’s capital adequacy ratio improved to 138.77% from 136.81%.

• Board approved a merger with Shin Kong Financial Holding, pending regulatory approval.

Financial highlights

• Net revenue and gains reached $86.61 billion, up 24% year-over-year.

• Net interest income grew 15% to $34.93 billion; net income from insurance operations surged 54% to $25.91 billion.

• Net income attributable to owners was $20.06 billion, up from $14.60 billion.

• Total assets increased to $3.29 trillion, up 8% from the prior year.

• Return on equity (after tax) was 7.78% (consolidated), with a profit margin of 23.17%.

Outlook and guidance

• The group expects continued growth in banking and insurance segments, supported by robust capital and liquidity.

• Implementation of new IFRS standards is not expected to materially impact financials.

• The pending merger with Shin Kong Financial Holding is anticipated to enhance scale and competitiveness.