Fubon Financial : FHC 2024 Q2 investor conference (English)

Published: 2024-08-29 01:51:09 ET 2881.TW

1H24 Interim Results

2024.08.29

Performance highlights of

Fubon Financial Holdings

Performance review by subsidiary

Fubon Financial Holdings: Business Highlights

Fubon FHC

• Net profit of NT$81.31bn, up 89.5% YoY, and EPS of NT$5.97, both top among FHCs in Taiwan

• Total assets over NT$11.7tn and net worth of NT$937.6bn, up 7.7% and 26.1% YoY, respectively

• BVPS at NT$64.67 per common share

Fubon Life

• Net profit of NT$51.57bn, top among peers in Taiwan

• Investment return at 5.43% and increased YoY

• Ranked 1 on FYP, top 2 in terms of TP and FYPE in Taiwan

• Equity to asset ratio at about 11.7% and RBC ratio reached 371%

Taipei Fubon

• Net profit reached NT$16.25bn, a record high

Bank

• NII up 12.2% YoY, on back of steady growth in deposits, loans and asset yields

• Net fee income increased 46.3% YoY from the growth of wealth management and credit card businesses

• Active cards and the amount of card spending grew 33% and 44% YoY, respectively, with market share gain

• Number of customers of digital platform reached 4.88mn with 3.28mn active users, up 20% and 26% YoY,

respectively

Fubon

• Net profit of NT$2.44bn, steadily growing on back of the improvement in business structure and risk management

Insurance

• Direct written premiums rose 11.5% YoY. Market share topped and reached 24.6% as the market leader

• Investment performance remained stable, with an investment return at 7.49%

Fubon

• Net profit of NT$4.97bn, up 44.6% YoY, mainly from brokerage, wealth management and underwriting as TAIEX

Securities

trended up

relationships and to reach economies of scale

Fubon Financial Holdings: Profitability

Net profit

NT$bn

144.6

81.3

89.5%

66.0

42.9

46.9

1H23

1H24

2021

2022

2023

Earnings per share (EPS)

NT$

12.49

97.0%

5.97

3.03

3.54

4.80

1H23

1H24

2021

2022

2023

Note: EPS of 2021 and 2022 would be NT$11.33 and NT$3.37, respectively, if adjusted to reflect stock dividends in 2022 and 2023

Fubon Financial Holdings: Net profit from major subsidiaries

Net profit from subsidiaries

NT$bn

81.3

1H23

1H24

51.6

42.9

26.2

13.1 16.2

2.4

3.4

5.0

1.8

1.9

0.9

-3.2

-0.5

Fubon

Taipei Fubon

Fubon

FHC

Life

Bank

Insurance

Securities

Bank (HK) (1)

Bank (China)

Note: (1) Net profit of Fubon Bank (HK) was NT$1.9bn, up 3.6% YoY, but down 1.4% YoY based on original currency (HK$), reflecting the appreciation of New Taiwan dollar against the Hong Kong dollar from 1H23's 3.90 to 1H24's 4.09

Fubon Financial Holdings: Assets and Net Worth

Total assets

NT$bn

7.7%

11,774

10,935

Jun-23

Jun-24

11,106

10,50010,588

2021

2022

2023

Equity attributable to parent company

NT$bn

49.75

64.67

938

743

26.1%

Jun-23

Jun-24

Net worth

BVPS (common share basis)

68.87

54.29

37.90

950

802

566

2021

2022

2023

Fubon Financial Holdings: ROAA & ROAE

ROAA

1.42%

1.49%

0.79%

0.45%

0.60%

1H23

1H24

2021

2022

2023

ROAE

18.69%

16.88%

13.11%

9.65%

6.19%

1H23

1H24

2021

2022

2023

Note: ROAA and ROAE are on annualized basis

Fubon Financial Holdings: ESG actions and awards

ESG strategies and achievements

ESG awards

Decarbonization emissions

⚫ Selected as a constituent company in the FTSE4Good Index Series

⚫ "Sustainable Asia Award" for the first time and "Asia's Best CSR" for the

Fubon

eleventh time from Corporate Governance Asia.

⚫ "ESG Awards - Comprehensive Performance Finance and Insurance

FHC

Industry Model Award" for the fifth time from Global Views

⚫ "Best ESG company" for three consecutive years from Institutional

Investor

⚫ Top 25% in the "Assessment of the Implementation of Treating Customers

Fairly" by FSC

Fubon

⚫ Taiwan Sustainable Investment Awards - Institutional Impact Category Life

✓

Digitalization

"One-stop shopping" insurance services, launched by Fubon Insurance, in collaboration with Taiwan Mobile, MOMO and STARLUX Airlines, creating a financial insurance ecosystem through innovative services

Life

Insurance Group-Model Award

⚫ "ESG Awards - the First Prize for Excellent Program in Environmentally

Friendly Category" from Global Views

Taipei

⚫ Top 25% in the "Assessment of the Implementation of Treating Customers

Fubon

Fairly" by FSC

Empowerment

transformation from the financial sector's perspective

Connections

elderly with a secure life

Bank

⚫ Top 20% in the "Sustainable Finance Assessment" by FSC

⚫ Top 25% in the "Assessment of the Implementation of Treating Customers

Fubon

Fairly" by FSC

Insurance

⚫ "Best Taiwan Non-Life Insurance Company" from Global Business

Magazine. The only insurance company awarded in Taiwan

Fubon

Securities Group-Model Award

Securities

⚫ "Service Gold Medal Award". The only securities company awarded in

Taiwan

Performance Review by Subsidiary Fubon Life

Disclaimer

Fubon Financial Holdings Co. Ltd. published this content on 29 August 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on August 29, 2024 at 05:50:02 UTC.