Ts Financial Holding Co., Ltd. · TWSE:2887

Ts Financial — Taishin Financial Holding — Q3 2021 Earnings Presentation

36 slides from Ts Financial's earnings presentation, November 2021

  1. Slide 1: Taishin Holdings 3Q21 Analyst Meeting

    Bw Tie Taishin Holdings 20217 $— + SMRAS 20217F11A915

  2. Slide 2: Company disclaimer

    公司聲明 This presentation may include forward looking statements. All statements (other than statements of historical facts) that address activities, events, or developments that Taishin Financial Holding Co. Ltd. (“Taishin”) expects or anticipates will or may occur in the future are forward-looking st

  3. Slide 3: 9M21 operating overview

    9M21 營運概況 • 前三季度稅後淨利178億元，去年同期為118億元 • 每股淨值13.45元，每股稅後盈餘為1.44元，年化股東權益報酬率為14.73% 金控 • 淨利息收入及淨手續費收入穩定成長，整體營業收入較去年同期成長22.5% • 金控資本水準穩健，截止至第三季季底資本適足率122.6% • 前三季稅後淨利101億元，去年同期為98億元 • 淨手續費收入95億元，較去年同期成長3.9%；其中財富管理手續費收入達68億元，創同 銀行 期新高，相較於去年同期成長5.8% • 逾放比為0.12%，覆蓋率逾1000% • 銀行資本水準強健，資本適足率及一級資本適足率分別為14.8%及12

  4. Slide 4: Contents

    目錄  2021年前三季金控財務數字  2021年前三季銀行獲利動能  2021年前三季人壽營運概況 3

  5. Slide 5: Holding company financial figures

    金控財務數字 稅後淨利 (NT$mn) 每股盈餘 1 (NT$) +56.5% +51.1% 17,769 1.44 11,763 0.92 9M20 9M21 9M20 9M21 每股淨值 1 (NT$) 股東權益報酬率 (%) 1,2 資產報酬率 (%) 2 14.73 13.45 12.97 10.00 1.02 0.75 9M20 9M21 9M20 9M21 9M20 9M21 Note 1. EPS, BVPS, and ROE are calculated for common shares only. 4 2. ROE and ROA are calculated on an

  6. Slide 6: Subsidiary profit performance

    金控各子公司獲利表現 NT$mn Excl. one-time * 3Q21 % 各子公司獲利貢獻 QoQ +35% QoQ+24% QoQ -43% 銀行 74% 248 161 4,850 343 497 證券 7% 3,600 人壽 10% 銀行 3Q21 Bank 證券 Securitites 其他子公司 Life 人壽 Other 金控 & Holdings 金控3Q21 FHC 3Q21 Subsidiaries other & 其他 9% 其他調整項 adjustments YoY +10% YoY+3% YoY +51% 9M21 % 5,309 17,769 各子公司獲利貢獻

  7. Slide 7: Capital adequacy ratios

    資本適足性比率 台新金控 (CAR) 台新銀行 (BIS) Tier 1% 130.0% 16.3% 14.4% 14.5% 15.1% 14.8% 126.9% 122.6% 118.9% 117.9% 13.4% 12.5% 12.3% 11.6% 11.8% Dec-19 Jun-20 Dec-20 Jun-21 Sep-21 Dec-19 Jun-20 Dec-20 Jun-21 Sep-21 台新人壽 (RBC) 台新證券 (CAR) 352% 366% 368% 302% 320% 326% 325% 330% 287% 269% Dec-19 Jun-20 Dec-20 Jun-

  8. Slide 8: Holding company earnings

    金控盈餘 NT$mn Better 1 3Q21 vs. 2Q21 Worse 一次性 : NT$4,858mn 台新金控不含人壽 9,047 911 5,956 662 464 175 183 2 (316) (95) (217) 4,189 2Q21 Pretax 2Q21 淨利息 NII 淨手續費 Net Fee 交易損益, Investment Fixed-income, 投資 & 營業費用 Expenses 淨提存 Provisions, 人壽 Life 金控調整項 3Q21 Pretax Holdings 3Q21 稅前盈餘 Earnings 收入 收入 Income 衍商及外匯

  9. Slide 9: Holding company net revenue structure (excl. life)

    金控淨收益結構(不含人壽) 金控淨收益結構 過去三年同期比較 9M21淨收益 : NT$35.5bn, YoY+5.0% NT$bn YoY 投資 +6.4% 及其他 YoY 5.3% 17.2 +15.7% 交易損益, 16.1 衍商及外匯 12.0% 14.5 12.2 YoY -21.3% 10.5 10.1 淨利息 YoY +9.6% 收入 6.4 48.4% 5.4 淨手續費 4.3 收入 2.45 34.3% 1.71 1.88 9M19 9M20 9M21 9M19 9M20 9M21 9M19 9M20 9M21 9M19 9M20 9M21 NII 淨利息 Net Fee 淨

  10. Slide 10: Holding company net fee income

    金控淨手續費收入(不含人壽) NT$mn +15.7% 12,156 10,507 2,630 2,386 2,156 1,953 1,787 794 737 469 550 375 337 423 455 399 385 314 371 455 481 255 212 195 153 126 128 177 167 181 185 160 9M20 9M21 3Q20 Wealth Management 3Q21 3Q20 Credit Card 3Q21 3Q20 Corporate Banking 3Q21 3Q20 Consumer Banking 3Q21 3Q20 Taishin

  11. Slide 11: Contents

    目錄  2021年前三季金控財務數字  2021年前三季銀行獲利動能  2021年前三季人壽營運概況 10

  12. Slide 12: Steady loan growth

    放款穩定成長 NT$bn 3Q21 總放款餘額 : NT$1,359bn, QoQ +1.4%, YoY +9.1%, YTD+7.1% 620 632 598 567 551 328 332 315 317 321 234 236 238 239 240 85 86 86 89 90 61 64 65 65 65 3Q20 Cor por at e 3Q21 3Q20 Fir st M or t gages 3Q21 3Q20 Hom e Equit y + 3Q21 3Q20 Second M or t gage Unsecur ed 3Q21 3Q20 O t her s 3Q21 企業

  13. Slide 13: Loan composition

    放款結構 產品別 幣別 其他 1 4.8% 消金無擔 6.7% 外幣放款 19.1% 房屋加值型 (YoY: +13.5%) 房貸 17.7% 企業放款 46.5% 台幣放款 80.9% 購屋貸款 (YoY: +8.2%) 24.4% Note: 1. “Others” includes auto loans, second mortgages, retail SME, and other consumer products. 2. The numbers are presented as the end balance of 3Q21. 3. YoY : 3Q21 vs. 3Q20 12

  14. Slide 14: Corporate credit and consumer unsecured lending detail

    法金授信及消金無擔放款明細 Corporate Credit Composition 法金授信產業分布 Consumer Unsecured 消金無擔放款 Lending QoQ YoY 個人信貸 +2.1% +8.2% 1 信用卡 -3.6% -4.2% 現金卡 -10.1% -32.8% 消金無擔放款 +1.3% +6.3% 其他 10.5% 科技 製造業 NT$bn 20.4% 37.5% 金融& 90.4 85.0 85.9 85.7 89.2 投資 18.3% 0.6 0.5 現金卡 0.7 0.7 0.6 10.4 10.0 非科技 10.4 10.5 10.3 1 17.1% 信

  15. Slide 15: Deposit mix

    存款結構 存款結構 (%) 存放比 (%)1 NT$bn QoQ: +1.7% YoY: +6.7% 1,592 1,636 1,659 1,670 1,698 13.1% 11.3% 13.4% 13.0% 13.1% 外幣 活存 79.7% 79.5% 77.7% 78.3% 77.1% 43.9% 台幣 45.4% 46.4% 47.5% 48.1% 活存 外幣 15.7% 14.0% 14.3% 13.9% 14.3% 定存 台幣 29.0% 27.2% 26.3% 25.5% 24.5% 定存 0.0 3Q20 4Q20 1Q21 2Q21 3Q21 Sep-20 Dec-20 Ma

  16. Slide 16: Net interest margin and spread

    淨利差及存放利差 淨利差 & 孳息資產均額 存放利差 整體放款利率 整體存款利率 整體存放利率 1.13% 1.13% 1.14% 1.15% 1.12% 1.44% 1.45% 1.45% 1.46% 1.45% 1,900 1,886 1,893 1.90% 1.87% 1.83% 1.80% 1.78% 1,856 1,821 0.46% 0.41% 0.38% 0.34% 0.32% 3Q20 4Q20 1Q21 2Q21 3Q21 3Q20 4Q20 1Q21 2Q21 3Q21 Note: 1. NIM & Spread figures are quarterly averages

  17. Slide 17: Wealth management fee income

    財富管理手續費收入 財富管理手續費收入 (NT$mn) 財富管理手續費收入組合 (%) 信託,保管及其他 信託,保管及其他 結構型及證券商品 結構型及證券商品 基金 基金 保險 保險 2,156 1,953 2,630 1,787 2,386 63% 64% 1,802 69% 67% 72% 1,359 1,710 1,246 1,190 21% 25% 456 642 24% 27% 485 546 23% 480 13% 271 9% 4% 172 117 55 62 3% 3% 70 49 69 61 69 3% 3% 3% 3% 3% 3Q20 4Q20 1Q21 2Q21 3Q21

  18. Slide 18: Credit card business

    信用卡業務 收單家數 簽帳金額 NT$bn +6.0% +6.5% -4.1% +1.5% 163,256 153,943 264.4 257.5 144,565 253.6 2019.12 2020.12 2021.09 9M19 9M20 9M21 Note 1. Total spending excludes cash advance. 有效卡數 毛手續費收入 thousands NT$mn -16.3% -1.2% 5,338 +0.8% +5.9% 4,469 4,414 4,016 4,046 3,794 2019.12 2020.12 2021.09 9M19 9M20 9M21

  19. Slide 19: Cost-income ratio

    營業費用率 NT$bn 營業收入 營業費用 29.3 29.3 16.6 17.1 10.0 10.1 10.1 9.1 9.2 5.7 6.0 5.6 5.6 5.9 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21 營業費用率 57.1% 65.5% 55.5% 61.2% 58.4% 56.7% 58.3% Note: The analysis is based on adjusted numbers excluding one-time items. 18

  20. Slide 20: NPL ratio and coverage ratio

    逾放比及覆蓋率 逾放比(%) 備抵呆帳/放款比率(%) 逾放金額 NT$mn 備抵呆帳NT$mn 0. 60% 1.31% 1.30% 1.30% 1.29% 1.29% 0.16% 0.15% 0.13% 0.12% 0.12% 16,933 17,245 17,451 16,190 16,425 - 0. 40% 1,930 1,920 1,753 1,590 1,681 - 1. 40% - 1. 40% 3Q20 4Q20 1Q21 2Q21 3Q21 覆蓋率% 839.0% 855.3% 966.1% 1084.9% 1038.0% Note: NPL%, coverage%, NP

  21. Slide 21: Contents

    目錄  2021年前三季金控財務數字  2021年前三季銀行獲利動能  2021年前三季人壽營運概況 20

  22. Slide 22: Total premium and first-year premium

    總保費收入及初年度保費收入 總保費收入 初年度保費收入 NT$mn NT$mn 14,380 QoQ : +118.1% YoY : +22.6% QoQ : +2208.5% YoY : +185.2% 11,729 7,093 3,935 3,531 3,987 4,064 4,035 3,251 1,380 323 265 251 153 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21 Note: 1. YoY : 9M21 vs. 9M20 2. Taishin Life began opera

  23. Slide 23: First-year premium breakdown

    初年度保費收入 初年度保費收入 – 產品別 初年度保費收入 – 繳別 1 1.1% 1.1% 5.4% 17.0% 投資型 17.0% 傳統型 投資型 39.8% 73.2% 89.6% 躉繳 利變型 83.0% 27.0% 期繳 健康傷害型 16.2% 25.7% 4.0% 9M20 9M21 9M20 9M21 初年度保費收入 – 通路別 初年度保費收入 – 幣別組合 25% 1.1% 19.3% 17.0% 壽險購問 投資型 68.5% 銀保-其他 48.5% 90.1% 外幣 80.7% 銀保-台新 台幣 12.0% 34.5% 19.5% 8.8% 9M20 9M21 9M20 9M

  24. Slide 24: First-year equivalent premium

    初年度等價保費收入 初年度等價保費收入 初年度等價保費收入 – 通路別 NT$mn QoQ : +322.7% 壽險顧問 YoY : -12.6% 53.8% 1,140 72.6% 保銀-其他 0.1% 996 保銀-台新 8.0% 46.2% 19.4% 9M20 9M21 初年度等價保費收入 – 產品別 614 2.6% 1.4% 20.7% 投資型 46.7% 315 傳統型 257 237 62.2% 利變型 145 31.1% 健康傷害險 19.6% 15.7% 3Q20 4Q20 1Q21 2Q21 3Q21 9M20 9M21 9M20 9M21 Note: 1. Taishi

  25. Slide 25: Life insurance investment portfolio

    人壽投資組合 投資組合 1 總投資報酬率及經常性報酬率 (%) 2 NT$bn 總投資報酬率 經常性報酬率 160.0 161.8 166.0 167.6 177.6 3% 3% 3% 3% 4% 4% 4% 4% 9% 其他 3.01 2.79 2.92 2.95 2.78 2.93 2.79 2.70 2.88 8% 7% 8% 8% 4% 2.40 6% 保單貸款 25% 25% 26% 26% 27% 股票 7.1% 7.1% 7.1% 7.1% 2018 2019 2020 9M20 9M21 25% 25% 25% 25% 25% 海外固定 負債成本 (%) 收益 4.2361%

  26. Slide 26: Appendix

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  27. Slide 27: Balance sheet of Taishin Holding and subsidiaries

    Balance Sheet of Taishin Holding and its subsidiaries as of September 30, 2021 Taishin Taishin Bank Others Holding & Other Taishin Holding NT$mn Securities Taishin Life (Consolidated) Subsidiaries Adjustments (Consolidated) (Consolidated) Assets Cash & due from banks 91,416 1,073 12,127 2,185 (1,431

  28. Slide 28: P&L of Taishin Holding and subsidiaries

    P&L of Taishin Holding and its subsidiaries for the period ended September 30, 2021 Taishin Taishin Bank Others Holding & Other Taishin Holding NT$mn Securities Taishin Life (Consolidated) Subsidiaries Adjustments (Consolidated) (Consolidated) Operating income Net interest income 16,267 354 931 920

  29. Slide 29: Taishin FHC financial summary

    Taishin FHC – Financial Summary (Consolidated) NT$mn, except for percentages Full-Year Comparison YTD Comparison Quarterly Comparison Income Statement Data 2018 2019 2020 change 9M20 9M21 change 2Q21 3Q21 change Interest income 34,485 37,210 33,902 -8.9% 26,031 24,027 -7.7% 7,777 8,503 9.3% Interest

  30. Slide 30: Taishin Bank financial summary

    Taishin Bank – Financial Summary NT$mn, except for percentages Full-Year Comparison YTD Comparison Quarterly Comparison Income Statement Data 2018 2019 2020 Change 9M20 9M21 Change 2Q21 3Q21 Change Interes t i ncome 32,773 35,420 32,084 -9.4% 24,723 21,738 -12.1% 7,216 7,307 1.3% Interes t expens e

  31. Slide 31: Taishin Bank deposit mix

    Taishin Bank – Deposit Mix 3Q21 3Q21 NT$bn 3Q20 4Q20 1Q21 2Q21 3Q21 % vs 2Q21 vs 3Q20 Current Deposits 879.3 961.4 984.0 1,012.1 1,039.0 61.2% 2.7% 18.2% • Checking 9.4 10.3 9.1 11.9 13.5 0.8% 13.4% 42.9% • Demand 197.6 210.3 213.8 224.9 235.6 13.9% 4.8% 19.2% • Current Savings 492.0 522.2 545.9 556

  32. Slide 32: Taishin Bank loan mix

    Taishin Bank –Loan Mix 3Q21 3Q21 NT$bn 3Q20 4Q20 1Q21 2Q21 3Q21 % vs 2Q21 vs 3Q20 Corporate Loans 550.5 566.5 597.8 619.9 631.7 46.5% 1.9% 14.8% Consumer Loans 694.6 703.0 709.5 720.6 727.2 53.5% 0.9% 4.7% • First Mortgage 314.5 316.9 321.0 327.7 331.9 24.4% 1.3% 5.5% • Home Equity 233.9 236.3 237.9

  33. Slide 33: Taishin Bank NPL ratios by loan book

    Taishin Bank –NPL Ratios by Loan Book Sep 20 Dec 20 Mar 21 Jun 21 Sep 21 Corporate Loan1 NPL %2 0.14% 0.15% 0.12% 0.10% 0.10% Consumer Loan1 NPL %2 0.17% 0.15% 0.14% 0.14% 0.14% - First Mortgage Loan NPL % 0.10% 0.10% 0.09% 0.09% 0.09% Consumer Default %3 0.00% 0.00% 0.01% 0.04% 0.00% Unsecured IDRP

  34. Slide 34: Taishin Securities financial summary

    Taishin Securities – Financial Summary NT$mn, except for percentages Full-Year Comparison YTD Comparison Quarterly Comparison Income Statement Data 2018 2019 2020 change 9M20 9M21 change 2Q21 3Q21 change Net interest income 220 152 196 28.7% 118 354 200.5% 116 144 23.6% Net fee income 863 1,077 1,52

  35. Slide 35: Taishin Life financial summary

    Taishin Life – Financial Summary P&L Full-Year Comparison YTD Comparison Quarterly Comparison NT$mn, except for percentages 2018 2019 2020 change 9M20 9M21 change 2Q21 3Q21 change Retained earned premium 13,579 14,901 15,078 1.2% 11,162 13,877 24.3% 3,116 6,778 117.5% Retained claims and policyholde

  36. Slide 36: Taishin Life premium performance

    Taishin Life – Premium Performance NT$mn, except for percentages Full-Year Comparison YTD Comparison Quarterly Comparison Total Premium Breakdown by Products 2018 2019 2020 change 9M20 9M21 change 2Q21 3Q21 change Investment-linked 2,365 2,326 1,087 -53.3% 891 657 -26.3% 195 267 37.1% Traditional 7,

Taishin Financial Holding — Q3 2021 Earnings Presentation on 6ix