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Transcription

1 SinoPac Holdings Asia Pacific Summit by Morgan Stanley November 17 th ~November 19 th, 2015

2 金控整體營運摘要 (p. 2) 財務概況 (p. 3~ p. 5) - 金控 Financial Highlights (p. 3) - 銀行 Financial Highlights (p. 4) - 證券 Financial Highlights (p. 5) 金控獲利分析 (p. 6~ p. 14) - 金控子公司獲利貢獻 (p. 6) - 金控獲利 - 跨期比較 (p. 7) - 金控淨收益趨勢 (p. 8) - 銀行 NIM & Spread (p. 9) - 銀行放款結構分析 (p. 10) - 銀行存款結構分析 (p. 11) - 金控手續費收入組合 (p. 12) - 金控營業費用分析 (p. 13) - 銀行資產品質 (p. 14) Agenda 1

3 一 金控整體營運摘要 2015/1~9 金控稅後權益報酬率 (ROAE) 9.31% 3Q 淨收益 NT$7,715Mn,QoQ -6.6%;1~9M 淨收益 NT$24,329Mn,YoY -20% 3Q 稅後淨利 NT$2,403Mn,QoQ -17.5%;1~9M 稅後淨利 NT$8,948Mn,YoY -20.7% 利息收益及手續費收入受外在環境影響 3Q 利息淨收益 NT$4,323Mn(56%),QoQ 1.1%;1~9M 利息淨收益 NT$13,013Mn,YoY -4.5% 3Q 手續費淨收益 NT$2,359Mn(31%),QoQ -11.2%;1~9M 手續費淨收益 NT$7,419Mn,YoY -2.2% 資產規模有機增長 3Q 金控總資產規模 NT$15,972 億元,QoQ 3.1%;YoY 5.9% 銀行放款規模 NT$8,747 億元,QoQ 3.9%;YoY 7.4% Major achievements 銀行分別榮獲今周刊 2015 年財富管理銀行評鑑 最佳服務獎 首獎, 及卓越雜誌 2015 卓越最佳銀行評比大調查 最佳服務獎 銀行電子金融服務, 獲金管會頒發 電子支付元年, 微型企業商機推手 證書 銀行榮獲證券櫃檯買賣中心 利率交換 (IRS) 交易平台獎勵競賽 團體獎亞軍 期交所舉辦之人民幣匯率期貨法人機構報價獎勵活動, 銀行榮獲 成交加值獎 及 報價獎 ; 證券獲得 報價獎 及 交易員獎 證券榮獲第六屆台灣權王大賽 臺灣權王獎 - 最佳投資獎 中壢分公司獲頒 權王推動獎 證券榮獲櫃買中心頒發 104 年輔導推薦上 ( 興 ) 櫃家數 第一名 2

4 二 金控 Financial Highlights NT$Mn; Mn Shares /1~9M YoY 2015/3Q 2015/2Q QoQ 股本 75,683 82,077 94, , % 101, , % 流通股數 7,568 8,208 9,471 10, % 10,168 9, % 權益 97, , , , % 129, , % 總資產 1,365,709 1,465,945 1,549,734 1,597, % 1,597,194 1,548, % Leverage 淨收益 28,171 32,977 38,496 24, % 7,715 8, % 稅後淨利 9,624 10,791 12,989 8, % 2,403 2, % EPS( 元 ) 每股淨值 ( 元 ) ROAA 0.72% 0.75% 0.85% 0.76% -0.23% 0.60% 0.74% -0.14% ROAE 10.26% 10.41% 11.23% 9.31% -4.04% 7.48% 9.08% -1.60% CAR 121% 105% 120% 125% 14% 125% 124% 1% DLR 110% 111% 106% 108% -4% 108% 109% -1% 3

5 銀行 Financial Highlights NT$Mn /1~9M YoY 2015/3Q 2015/2Q QoQ 股本 53,862 59,616 66,375 74, % 74,464 74, % 權益 78,251 87,552 99, , % 107, , % 總資產 1,266,443 1,357,033 1,415,618 1,460, % 1,460,690 1,405, % Leverage PPOP 9,325 12,950 16,987 8, % 2,803 2, % 稅後淨利 8,348 9,603 11,355 7, % 2,223 2, % EPS( 元 ) 每股淨值 ROAA 0.68% 0.72% 0.81% 0.71% -0.21% 0.61% 0.68% -0.07% ROAE 11.23% 11.46% 12.03% 9.81% -4.20% 8.32% 9.29% -0.97% 總存款 1,038,108 1,100,916 1,129,098 1,153, % 1,153,472 1,133, % 總放款 799, , , , % 874, , % 放存比 77.0% 75.3% 72.4% 75.8% 1.8% 75.8% 74.3% 1.6% NPL Ratio 0.34% 0.37% 0.23% 0.22% 0.00% 0.22% 0.21% 0.01% 備抵覆蓋率 308% 305% 699% 674% 28% 674% 710% -36% 放款覆蓋率 1.06% 1.12% 1.63% 1.46% 0.05% 1.46% 1.51% -0.05% BIS Ratio 13.68% 12.45% 13.18% 13.29% -0.02% 13.29% 13.53% -0.24% Tier 1 Ratio 9.13% 8.99% 9.76% 10.41% 0.70% 10.41% 10.36% 0.05% Note1: loans portfolio includes credit card revolving balance and FA, excluding non-accrual loans. Note2: numbers are presented on consolidated basis. 4

6 證券 Financial Highlights NT$Mn /1-9M YoY 2015/3Q 2015/2Q QoQ 股本 15,365 16,212 16,212 16, % 16,212 16, % 淨值 22,759 23,834 25,121 24, % 24,883 24, % 總資產 82,272 88, , , % 111, , % 資本利得 % % 穩定性收入 4,242 4,280 5,760 4, % 1,319 1, % 稅後淨利 1,161 1,003 1, % % EPS( 元 ) 每股淨值 ( 元 ) 資本適足率 372% 351% 357% 321% -47% 321% 297% 24% ROAA 1.42% 1.16% 1.32% 0.82% -0.74% 0.12% 0.75% -0.63% ROAE 5.15% 4.32% 5.80% 3.64% -2.67% 0.53% 3.60% -3.07% Leverage 經紀業務市占率 4.99% 5.23% 5.32% 4.82% -0.56% 4.70% 4.95% -0.25% 平均融資餘額 12,514 13,897 17,250 16, % 13,479 18, % 平均融資餘額市占率 5.50% 6.23% 6.55% 6.58% 0.04% 6.60% 6.58% 0.02% Note: numbers are presented on consolidated basis. 5

7 三 金控各子公司獲利貢獻 5.0% 1.4% 2015/3Q NT$Mn 其他 93.6% 證券 銀行 2, , ,403 銀行證券其他長投收益合計金控淨支出金控稅後淨利 (+/-) 收益佔比 QoQ 8% 85% 59% 19% NA 18% 7.5% 7.6% 其他 2015/1~9M 84.9% 證券 銀行 7, ,018 8, 收益佔比 銀行證券其他長投收益合計金控淨支出金控稅後淨利 (+/-) -2, , ,342 YoY 21% 40% 13% 22% 66% 21% 註 1: 金控公司淨支出為金控本身收入扣除利息支出及營業費用註 2: :better :worse 6

8 金控獲利比較 7,715-4, /3Q NT$Mn , ,403 淨收益 營業費用 提存 稅前淨利 所得稅 淨利 (+/-) QoQ 7% 3% 1300% 20% 38% 18% 2015/1~9M 24,329-14, ,350-1,402 8,948 淨收益營業費用提存稅前淨利所得稅淨利 (+/-) -6, ,317-3, ,342 YoY 20% 3% NA 24% 41% 21% Note1: :better :worse Note 2: numbers are presented on consolidated basis. 7

9 金控淨收益趨勢 Quarterly 8,748 8,080 8,355 8,259 7,715 NT$Mn 利息淨收益 4,675 4,521 4,411 4,278 4,323 2,715 2,299 2,403 2,656 2,359 1,358 1,259 1,541 1,324 1,033 手續費淨收益 其他 淨收益 2014/3Q 2014/4Q 2015/1Q 2015/2Q 2015/3Q Year-to-date Yearly 30,416 38,496 13,619 13,013 24,329 32,977 16,099 18,141 17,534 32,409 9,215 7,581 7,419 8,629 8,248 10,474 9,881 9,718 3,898 5, /1~9M 2015/1~9M Last 4 Quarters Note: numbers are presented on consolidated basis. 8

10 銀行 NIM & Spread Interest earning assets & Net interest income NIM & Spread NT$Mn Interest earning assets NII Spread NIM Loan Deposit 1,295,504 4,236 4,099 3,984 1,349,236 3,860 3, % 2.44% 2.40% 2.35% 2.29% 1.58% 1.55% 1.50% 1.30% 1.26% 1.24% 1.43% 1.42% 1.18% 1.15% 0.89% 0.89% 0.91% 0.92% 0.87% 2014/3Q 2014/4Q 2015/1Q 2015/2Q 2015/3Q 2014/3Q 2014/4Q 2015/1Q 2015/2Q 2015/3Q Note: numbers are presented on consolidated basis. 9

11 銀行放款結構分析 NT$Mn /3Q YTD 總放款 817, , % NT$Mn 448, , , , , , , , , , , , /3Q 消金, 2.8% 大型企業 Non- SME 293, , , , , ,361 個金, 45.9% 中小企業, 18.5% 大型企業 32.7% 中小企業 138, , , , , ,180 21,572 24,264 25,097 24,423 25,282 24, /1Q 2Q 3Q /1Q 2Q 3Q /1Q 2Q 3Q 法 金 個 金 消 金 Note1: loans portfolio includes credit card revolving balance and FA, excluding non-accrual loans. Note2: numbers are presented on consolidated basis. 10

12 銀行存款結構分析 Total Deposits RMB Deposit NT$Mn 台幣活存外幣活存外幣定存台幣定存 RMB$Mn +1.8% 1,038,108 1,100,916 1,129,098 1,133,335 1,133,580 1,153,472 18, % 42.1% 37.1% 37.2% 37.4% 37.2% 17, % 16,452 16, % 14.4% 17.4% 17.2% 17.2% 16.9% 15, % 11.9% 13.5% 13.3% 13.4% 13.8% 31.5% 31.6% 32.0% 32.3% 32.0% 32.1% 活存比 45.9% /1Q 2015/2Q 2015/3Q Note: numbers are presented on consolidated basis. 2014/3Q 4Q 2015/1Q 2Q 3Q 11

13 金控手續費收入組合 NT$Mn 2014/3Q 2014/4Q 2015/1Q 2015/2Q 2015/3Q 手續費合計 2,715 2,299 2,403 2,656 2,359 手續費佔比 1,261 33% 證券 1,101 1,089 1, , % 8% 7% 外匯與其他放款 信用卡 % 財富管理 財富管理信用卡放款外匯與其他證券 2015/3Q Note: numbers are presented on consolidated basis. 12

14 金控營業費用分析 Quarterly 58% 58% 58% 59% 61% NT$Mn 淨收益 營業費用 8,748 8,080 8,355 8,259 7,715 CI Ratio 5,041 4,692 4,827 4,893 4, /3Q 2014/4Q 2015/1Q 2015/2Q 2015/3Q Year-to-date 30,416 49% 59% Yearly 32,977 56% 38,496 51% 32,409 59% 24,329 14,916 14,454 18,501 19,608 19, /1~9M 2015/1~9M Note: numbers are presented on consolidated basis Last 4 Quarters 13

15 20,000 19, % 18, % 17, % 16, % 15, % 14, % 13, % 12,000 11,000 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 - Reserve/ Loan Ratio 銀行放款資產品質 逾放餘額備抵餘額逾放比備抵呆帳覆蓋率 % % % % % 0.22% 0.23% 0.22% 0.21% 0.22% 13,167 11,318 12,509 12,565 12,668 1,754 1,885 1,764 1,770 1, /3Q 2014/4Q 2015/1Q 2015/2Q 2015/3Q 1.41% 1.63% 1.54% 1.51% 1.46% NT$Mn 1.20% -0.80% Note 1: numbers are based on regulator s definition, excluding FA and credit card revolving balance. Note 2: numbers are presented on consolidated basis. 14

16 Appendix 1/13 SPH's Balance Sheet (Consolidated) - IFRS Pro Forma NT$ Mn Yearly Results Quarterly Results Q14 4Q14 1Q15 2Q15 3Q15 QoQ(%) YoY(%) YTD(%) Assets: Cash and cash equivalents, net 36,441 45,525 19,804 45,525 33,837 29,700 29, Due from the central bank and call loans to banks, net 61,148 90,158 85,639 90, , ,326 93, Financial assets at fair value through profit or loss 54,465 89,579 79,337 89,579 93,370 92, , Securities purchased under agreements to resell 2,658 21,224 21,490 21,224 20,652 11,702 9, Receivables, net 151, , , , , , , Current tax assets Discounts and loans, net 808, , , , , , , Available-for-sale financial assets 63, ,732 67, , , , , Held-to-maturity financial assets 214,418 46, ,543 46,114 51,206 64,138 68, Investments accounted for using the equity method, net Other financial assets, net 42,100 41,871 49,013 41,871 42,609 46,144 49, Investment property, net 1,746 1,735 1,737 1,735 1,772 1,769 1, Property, plant and equipment, net 13,999 13,807 13,817 13,807 13,736 13,521 13, Intangible assets, net 3,041 2,837 3,013 2,837 2,796 2,743 2, Deferred tax assets 2,718 3,255 3,017 3,255 3,013 2,987 2, Other assets, net 9,830 14,794 14,246 14,794 16,182 14,429 16, Total Assets 1,465,945 1,549,734 1,508,842 1,549,734 1,562,425 1,548,816 1,597, Liabilities and equity Liabilities Deposits from the central bank and banks 87,589 69,606 69,999 69,606 72,179 73,396 85, Commercial paper payable, net 18,301 27,877 29,915 27,877 32,660 31,269 25, Financial liabilities at fair value through profit or loss 14,072 24,135 21,107 24,135 20,938 15,510 28, Derivative financial liabilities for hedging Securities sold under agreement to repurchase 20,099 41,761 36,167 41,761 37,842 35,331 34, Payables 34,183 35,418 39,590 35,418 33,150 39,990 41, Current tax liabilities 1,056 1,417 1,822 1,417 1, Deposit and remittances 1,086,645 1,115,170 1,087,519 1,115,170 1,118,897 1,121,504 1,141, Bonds payable 45,087 48,566 48,567 48,566 43,567 41,368 42, Short-term borrowings 10,198 11,082 8,034 11,082 19,255 13,251 15, Long-term borrowings 10,145 9,874 8,127 9,874 9,577 9,871 8, Liabilities component of preferred stocks Provisions 3,176 3,327 3,221 3,327 3,199 3,176 3, Other financial liabilities 18,125 27,299 28,015 27,299 30,033 27,630 31, Deferred tax liabilities 1,240 1,445 1,290 1,445 1,418 1,451 1, Other liabilities 7,498 7,233 8,762 7,233 9,308 7,823 7, Total liabilities 1,357,438 1,424,260 1,392,167 1,424,260 1,433,845 1,422,587 1,467, Capital stock 82,077 94,709 88,709 94,709 94, , , Capital surplus 1,524 2,227 1,524 2,227 2,227 2,227 2, Retain earnings 22,775 26,268 24,684 26,268 29,898 21,107 23, Other equity interest 2,070 2,210 1,698 2,210 1,686 1,155 2, Total equity attributable to owners of the parent 108, , , , , , , Non-controlling interests TOTAL 1,465,945 1,549,734 1,508,842 1,549,734 1,562,425 1,548,816 1,597,

17 Appendix 2/13 Balance Sheet of SPH and its subsidiaries for the 9 months ended Sep. 30, 2015 NT$Mn BSP SPS Trust Leasing Others Sum Adj. Items SPH (Consoliated) (Consolidated) (Consolidated) (Consolidated) Assets: Cash and cash equivalents, net 26,288 4, ,583 33,889-4,063 29,826 Due from the central bank and call loans to banks, net 93, , ,215 Financial assets at fair value through profit or loss 58,571 46, , ,716 Securities purchased under agreements to resell 7,498 1, , ,290 Receivables, net 103,251 24, ,053 1, ,006-1, ,534 Current tax assets 1, ,669-1, Discounts and loans, net 850, , ,472-3, ,280 Available-for-sale financial assets 213,696 1, , , ,170 Held-to-maturity financial assets 68, , ,124 Investments accounted for using the equity method, net , , , Other financial assets, net 17,289 20, ,814 5,257 56,824-6,928 49,896 Investment property, net , ,457-2,693 1,763 Property, plant and equipment, net 10,564 2, , ,508 Intangible assets, net 1, , ,773 Deferred tax assets 2, , ,856 Other assets, net 5,477 9, , ,485 Total Assets 1,460, ,049 1,677 32, ,893 1,757, ,303 1,597,194 Liabilities and equity Liabilities Deposits from the central bank and banks 85, , ,905 Commercial paper payable, net 0 6, ,630 13,704 25, ,303 Financial liabilities at fair value through profit or loss 26,444 2, , ,661 Securities sold under agreement to repurchase 1,876 32, , ,227 Payables 22,749 20, ,402-1,634 41,768 Current tax liabilities ,449 1,721-1, Deposit and remittances 1,150, ,150,960-9,506 1,141,454 Bonds payable 42, , ,578 Short-term borrowings 199 4, ,889 2,000 17,664-2,652 15,012 Long-term borrowings ,315 1,200 10,515-1,831 8,684 Liabilities component of preferred stocks Provisions 2, , ,173 Other financial liabilities 15,133 16, , ,442 Deferred tax liabilities 1, , ,649 Other liabilities 2,945 2, , , ,119 Total liabilities 1,352,957 86, ,739 18,508 1,484,527-17,163 1,467,364 Share capital 74,464 16,212 1,420 4, , ,537-98, ,680 Capital surplus 10, ,228 13,188-10,961 2,227 Retain earnings 21,687 8, ,999 54,479-30,969 23,510 Other equity 1, ,339 4,706-2,353 2,353 Total equity attributable to owners of the parent 107,733 24,883 1,519 5, , , , ,769 Non-controlling interests TOTAL 1,460, ,049 1,677 32, ,893 1,757, ,303 1,597,194

18 Appendix 3/13 SPH's P&L (Consolidated) - IFRS NT$ Mn Yearly Results Quarterly Results YTD Results Q14 4Q14 1Q15 2Q15 3Q15 QoQ(%) YoY(%) 9M14 9M15 YoY(%) Interest revenue 26,820 30,981 7,873 7,698 7,648 7,574 7, ,283 22, Interest expense 10,721 12,841 3,198 3,177 3,237 3,296 3, ,664 9, Net interest Income 16,099 18,141 4,675 4,521 4,411 4,278 4, ,619 13, Net revenues other than interest Commissions and fee revenues, net 8,629 9,881 2,715 2,299 2,403 2,656 2, ,581 7, Gains from financial assets and liabilities at fair value through P/L 5,845 4, , ,713 1, Realized gains from available-for-sale financial assets Realized gain (loss) on HTM financial assets Gains on unquoted equity instruments Share of profit (loss) of associates and joint ventures accounted for using equity method NA NA NA Foreign exchange gains, net 1, , (Impairment losses) reversal gains on assets NA Rental revenue Other revenues, net 422 4, , Total net revenues 32,977 38,496 8,748 8,080 8,355 8,259 7, ,416 24, Bad debt expenses and guarantee liability provisions 1,975 4, , , NA 1, Operating expenses 18,501 19,608 5,041 4,692 4,827 4,893 4, ,916 14, Employee benefits expense 11,475 12,246 3,145 2,667 3,059 3,020 2, ,579 8, Depreciation and amortization Others 6,075 6,407 1,660 1,781 1,526 1,627 1, ,625 4, Bad debts and guarantee liability provisions & Operating expenses 20,476 23,646 4,241 6,888 4,016 4,915 5, ,758 13, Income (loss) before income tax 12,501 14,850 4,506 1,192 4,339 3,344 2, ,658 10, Income tax (benefit) expense 1,711 1, ,368 1, Profit (loss) 10,791 12,989 4,090 1,699 3,630 2,915 2, ,290 8,

19 Appendix 4/13 P&L of SPH and its subsidiaries for the 9 months ended Sep. 30, 2015 NT$Mn BSP SPS Trust Leasing Others Sum Adj. Items SPH (Consoliated) (Consolidated) (Consolidated) (Consolidated) Interest revenue 20, , , ,762 Interest expense 9, , ,750 Net interest Income 11, , ,013 Net revenues other than interest Commissions and fee revenues, net 4,725 2, , ,419 Gains from financial assets and liabilities at fair value through P/L 1, , ,812 Realized gains from available-for-sale financial assets Realized gain (loss) on held-to-maturity financial assets Realized gains from unquoted equity instrument Share of profit (loss) of associates and joint ventures accounted for using equity method ,024 8,974-9, Foreign exchange gains, net , ,102 (Impairment losses) reversal gains on assets Rental revenue Other revenues, net Total net revenues 18,784 4, ,487 33,659-9,331 24,329 Bad debt expenses and guarantee liability provisions Operating expenses 10,556 3, , ,454 Employee benefits expense 6,191 2, , ,926 Depreciation and amortization Others 3, , ,796 Bad debts and guarantee liability provisions & Operating expenses 9,859 3, , ,979 Income (loss) before income tax 8, (1) 377 9,183 19,349-8,999 10,350 Income tax (benefit) expense 1, , ,402 Profit (loss) 7, (6) 313 9,300 17,947-8,999 8,948 Attributable to Profit(loss), attributable to owners of the parent 7, (6) 313 9,300 17,946-8,999 8,948 Profit(loss), attributable to non-controline interests

20 Appendix 5/13 BSP's Balance Sheet (Consolidated) - IFRS NT$Mn Yearly Results Quarterly Results Q14 4Q14 1Q15 2Q15 3Q15 QoQ(%) YoY(%) YTD(%) Assets Cash and cash equivalents 34,215 41,312 17,987 41,312 31,899 26,107 26, Due from the central bank and call loans to banks 61,148 90,158 85,639 90, , ,326 93, Financial assets at fair value through profit or loss 25,969 48,002 40,033 48,002 46,982 42,460 58, Securities purchased under agreements to resell 0 12,894 16,340 12,894 15,189 8,578 7, Receivables, net 118, , , , , , , Current tax assets 1,290 1,190 1,179 1,190 1,182 1,192 1, Discounts and loans, net 808, , , , , , , Available-for-sale financial assets 59, ,761 64, , , , , Held-to-maturity investments 214,418 46, ,543 46,114 51,206 64,138 68, Other financial assets, net 16,030 13,533 20,741 13,533 13,549 17,947 17, Property, plant and equipment, net 11,002 10,873 10,858 10,873 10,827 10,583 10, Intangible assets, net 1,982 2,010 1,968 2,010 1,983 1,941 1, Deferred tax assets 2,570 2,996 2,685 2,996 2,811 2,784 2, Other assets, net 1,485 6,223 4,489 6,223 5,057 2,009 5, Total 1,357,033 1,415,618 1,377,976 1,415,618 1,413,770 1,405,982 1,460, Liabilities and Equity Liabilities Deposits from the central bank and banks 87,589 69,606 69,999 69,606 72,179 73,396 85, Financial liabilities at fair value through profit or loss 11,832 21,599 17,818 21,599 18,606 12,721 26, Derivative financial liabilities for hedging Securities sold under agreement to repurchase 452 7,104 5,906 7,104 4,110 3,724 1, Payable 17,233 18,676 18,711 18,676 16,347 15,636 22, Current tax liabilities 856 1,142 1,586 1,142 1, Deposit and remittance 1,092,092 1,125,438 1,093,263 1,125,438 1,130,652 1,130,798 1,150, bank debentures 45,087 48,566 48,567 48,566 43,567 41,368 42, Short-term borrowings Other financial liabilities 7,620 16,150 16,872 16,150 17,048 15,776 15, Provisions 2,880 3,040 2,931 3,040 2,912 2,892 2, Deferred tax liabilities , Other liabilities 2,612 3,760 3,883 3,760 3,571 3,238 2, Total liabilities 1,269,481 1,316,091 1,280,434 1,316,091 1,311,409 1,301,324 1,352, Capital stock 59,616 66,375 59,616 66,375 66,375 74,464 74, Capital surplus 10,413 10,481 10,413 10,481 10,481 10,481 10, Retain earnings 17,650 22,124 27,393 22,124 25,144 19,464 21, Other equity interest , Total equity 87,552 99,528 97,542 99, , , , TOTAL 1,357,033 1,415,618 1,377,976 1,415,618 1,413,770 1,405,982 1,460,

21 Appendix 6/13 BSP's P&L (Consolidated) - IFRS NT$ Mn Yearly Results Quarterly Results YTD Results Q14 4Q14 1Q15 2Q15 3Q15 QoQ(%) YoY(%) 9M14 9M15 YoY(%) Interest revenue 24,994 28,542 7,232 7,062 6,998 6,898 6, ,480 20, Interest expense 10,120 12,053 2,996 2,963 3,015 3,038 2, ,090 9, Net interest Income 14,874 16,489 4,236 4,099 3,984 3,860 3, ,390 11, Net revenues other than interest Commissions and fee revenues, net 5,522 6,004 1,765 1,222 1,613 1,622 1, ,783 4, Gains from financial assets and liabilities at fair value through P/L 4,133 2, ,530 1, Realized gains from available-for-sale financial assets NA NA Realized gain (loss) on held-to-maturity financial assets NA NA Realized gains from unquoted equity instrument Foreign exchange gains, net 1, (Impairment losses) reversal gains on assets NA Rental revenue Other revenues, net 287 4, , Total net revenues 26,378 31,097 6,825 6,355 6,267 6,176 6, ,742 18, Bad debt expenses and guarantee liability provisions 1,950 3, , NA NA 1, Operating expenses 13,428 14,111 3,753 3,206 3,535 3,483 3, ,905 10, Employee benefits expense 8,049 8,351 2,229 1,575 2,111 2,056 2, ,776 6, Depreciation and amortization Others 4,726 5,087 1,356 1,459 1,250 1,253 1, ,628 3, Bad debts and guarantee liability provisions & Operating expenses 15,378 18,076 2,941 5,332 2,692 3,403 3, ,744 9, Income (loss) before income tax 10,999 13,021 3,884 1,024 3,574 2,774 2, ,997 8, Income tax (benefit) expense 1,397 1, (588) ,254 1, Profit (loss) 9,603 11,355 3,440 1,612 3,021 2,409 2, ,743 7,

22 -9.16 Appendix 7/13 SPS's Balance Sheet (Consolidated)-IFRS Pro Forma 4Q13 4Q14 Yearly Results Quarterly Results Q14 4Q14 1Q15 2Q15 3Q15 QoQ(%) YoY(%) Assets: Current assets 83, , , , , , , Cash and cash equivalents 4,267 5,761 4,203 5,761 3,703 3,707 4, Financial assets at fair value through profit or loss 28,574 41,527 39,318 41,527 46,327 49,621 46, Securities purchased under agreements to resell 2,658 8,249 5,070 8,249 5,463 3,123 1, Margin loans receivable 18,412 19,758 21,430 19,758 29,391 19,641 15, Other current assets 29,140 29,624 33,539 29,624 37,049 37,990 38, Non-current assets 5,858 5,690 5,741 5,690 5,657 5,531 5, Financial assets at cost 1, Properties and equipments, net 2,381 2,335 2,337 2,335 2,308 2,332 2, Intangible & other assets 2,451 2,496 2,510 2,496 2,484 2,474 2, Total assets 88, , , , , , , Liabilities and stockholders' equity Liabilities Current liabilities 63,698 83,806 83,244 83, ,531 94,403 85, Liabilities for bonds with attached 19,647 36,258 30,260 36,258 35,332 32,948 32, repurchase agreements 0 Futures traders' equity 10,535 11,179 11,173 11,179 13,015 11,884 16, Notes payable and accounts payable 11,971 11,893 14,184 11,893 15,588 17,676 14, Other current liabilities 21,545 24,477 27,626 24,477 36,596 31,895 21, Non-current liabilities 1,377 1,682 1,389 1,682 1, Total liabilities 65,074 85,488 84,633 85, ,008 94,858 86, Capital stock 16,212 16,212 16,212 16,212 16,212 16,212 16, Capital surplus Retained earnings 7,504 8,581 8,307 8,581 9,007 8,239 8, Other items of equity (328) (149) (296) (149) (113) (173) (78) Total equity 23,834 25,121 24,669 25,121 25,583 24,755 24, TOTAL 88, , , , , , , Note: SPS s numbers are based on accounting rules of securities firms.

23 Appendix 8/13 Yearly Results Quarterly Results YTD Results Q14 4Q14 1Q15 2Q15 3Q15 QoQ(%) YoY(%) 9M14 9M15 YoY(%) Net interest income 886 1, ,006 1, Net fee income 2,880 3, ,680 2, Gains (Losses) on sales of securities, net (11) (268) Stock affairs agent fees Dividend income Gains (Losses) on warrant issued, net Gains (Losses) from futures transactions Gains (Losses) from options transactions Gains (Losses) from derivative instruments transactions Gains (Losses) from SBL transactions Gains (Losses) from valuation of operating securities SPS's P&L (Consolidated)-IFRS Pro Forma (65) (127) (25) (156) (215) 43 (98) 16 (13) (118) (5) (2) (28) 30 (21) (18) (195) (272) (564) 452 (23) (202) (194) (724) (419) (2) 12 (13) (2) (119) 287 (422) 264 (439) (343) (518) Other operating income Non-operating income-net Total net revenues 5,396 6,417 1,467 1,684 1,654 1,615 1, ,733 4, Operating expenses 4,354 4,780 1,125 1,277 1,136 1,288 1, ,503 3, Pre-tax income (loss) 1,042 1, , Income tax benefit (expense) (38) (217) 56 (135) (92) (98) (82) (177) Net income (Loss) 1,003 1, , Note: SPS s numbers are based on accounting rules of securities firms.

24 Appendix 9/13 BSP's Loan Breakdown (Consolidated) NT$Mn Yearly Results Quarterly Results Items Q14 4Q14 1Q15 2Q15 3Q15 QoQ(%) YoY(%) YTD(%) Corporate loans Manufacturing 189, , , , , , , Electronics Indusrty 81,554 72,343 72,226 72,343 69,204 60,769 66, Chemical products 60,664 57,535 54,884 57,535 55,731 51,787 53, Conventional industry 45,512 47,706 47,174 47,706 45,533 47,177 51, Electric fixture 1,518 2,204 2,507 2,204 2,455 2,768 3, FI & security house & insurance 19,712 20,118 17,985 20,118 23,708 26,823 23, Installment & leasing 5,030 16,822 13,901 16,822 17,063 19,084 21, Construction & real estate 49,925 38,240 41,840 38,240 38,469 40,151 43, Wholesales/retail 80,988 82,401 83,335 82,401 75,919 73,582 76, Service industry 37,657 37,703 39,290 37,703 36,902 35,710 36, State-owned company 30,938 27,693 28,455 27,693 42,670 56,441 60, Others 18,169 14,118 14,453 14,118 13,083 12,617 10, Factoring 5,777 6,367 5,440 6,367 5,291 4,061 4, Sub total 437, , , , , , , Individual loans Mortgage loans 363, , , , , , , Car loans 6,188 7,103 6,936 7,103 7,248 7,387 7, Sub total 369, , , , , , , Consumer loans Unsecured loans and others 16,703 17,635 17,487 17,635 17,089 17,420 16, Credit card 7,628 7,528 7,545 7,528 7,392 7,923 7, Sub total 24,331 25,163 25,032 25,163 24,481 25,343 24, Total 831, , , , , , , Note: Loans portfolio includes non-accrual loans.

25 Appendix 10/13 NT$Mn NPL BSP's Loan Asset Quality Yearly Results Quarterly Results YTD Results Q14 4Q14 1Q15 2Q15 3Q15 QoQ(%) YoY(%) 9M14 9M15 YoY(%) 90-days NPLs - beginning 2,673 2,991 2,922 1,754 1,885 1,764 1, ,991 1, New NPL influx 4,256 1, ,111 1, NPL recovery 1,677 2,145 1, ,978 1, Write-offs 2, days NPLs - ending 2,991 1,885 1,754 1,885 1,764 1,770 1, ,754 1, Total reserves for loans 9,126 13,167 11,318 13,167 12,509 12,565 12, ,318 12, Provisions for loan loss 2,836 4, , NA NA 2, Recovery - Loan 756 1, , NPL ratio 0.37% 0.23% 0.22% 0.23% 0.22% 0.21% 0.22% 0.01% 0.00% 0.22% 0.22% 0.00% Coverage ratio % % % % % % % % 28.23% % % 28.23% Note: Loans portfolio includes non-accrual loans and is on a consolidated basis.

26 Appendix 11/13 BSP's Fee Breakdown (Consolidated) NT$Mn Yearly Results Quarterly Results YTD Results Q14 4Q14 1Q15 2Q15 3Q15 QoQ(%) YoY(%) 9M14 9M15 YoY(%) Wealth management 3,524 3,966 1, ,098 1,085 1, ,236 3, Mutual funds 1,652 1, ,551 1, Trust & custodian bank Life insurance 1,650 1, ,513 1, Property insurance Loan fees Corporate loans Individual & consumer loans Factoring & A/R financing Credit card Others Import & export service Guarantees & acceptances Others Total fee income 5,522 6,004 1,765 1,222 1,613 1,622 1, ,783 4,

27 Appendix 12/13 BSP's Credit Card Business NT$Mn Yearly Results Quarterly Results YTD Results Q14 4Q14 1Q15 2Q15 3Q15 QoQ(%) YoY(%) 9M14 9M15 YoY(%) Credit card business Cards in force(thousand) 2,137 2,178 2,164 2,178 2,189 2,204 2, % 0.04% 2,164 2, % Active cards(thousand) 1,308 1,325 1,302 1,325 1,317 1,305 1, % 1.22% 1,302 1, % Account receivables 16,684 17,040 16,495 17,040 15,840 18,218 16, % 1.92% 16,495 16, % Revolving balance 5,197 4,938 4,983 4,938 4,899 4,902 5, % 0.37% 4,983 5, % Total consumption 90,042 91,371 22,744 23,963 21,289 24,209 21, % -4.84% 67,408 67, % Avg spending per card(nt$) 69,666 70,310 17,540 18,200 16,145 18,489 16, % -6.36% 52,099 51, % Asset quality NPL ratio(90-day past due) 0.32% 0.29% 0.28% 0.29% 0.30% 0.45% 0.41% -0.03% 0.13% 0.28% 0.41% 0.13% Coverage ratio % % % % % % % 66.53% % % % % Write-offs % 21.43% % Net charge off ratio -0.83% -0.86% -0.83% -0.86% -0.72% -0.76% -0.72% 0.04% 0.11% -0.83% -0.72% 0.11%

28 Appendix 13/13 US$mn Yearly Results Quarterly Results YTD Results Q14 4Q14 1Q15 2Q15 3Q15 9M14 9M15 Net income after tax Total assets 1,319 1,340 1,397 1,340 1,241 1,212 1,281 1,397 1,281 Total equity Total deposits 949 1,026 1,031 1, , Total loans Per Share Data EPS(after-tax)(US$) DuPont Analysis FENB Summary Ratios ROAA(after-tax) (%, annualize YTD earnings) 0.56% 0.60% 0.57% 1.43% 1.51% 0.44% 0.48% 0.34% 0.80% ROAE(after-tax) (%, annualize YTD earnings) 2.18% 2.73% 2.71% 6.51% 7.21% 1.95% 2.21% 1.52% 3.76% Loan-to-Deposit Ratio (%) 92.12% 88.82% 88.42% 88.82% 93.30% % 87.52% 88.42% 87.52% Loan to Deposit Spread (%) 3.52% 3.07% 3.04% 3.05% 3.25% 3.22% 3.22% 3.17% 3.31% NIM (%) 2.83% 2.48% 2.32% 2.47% 2.64% 2.71% 2.57% 2.49% 2.69% Cost/Income Ratio (%) 83.87% 70.95% 64.42% 70.78% 79.01% 75.97% 76.75% 71.00% 76.75% Asset Quality Ratios NPLs / Total loans (%) 0.15% 0.08% 0.10% 0.08% 0.08% 0.07% 0.07% 0.10% 0.07% Reserve / NPLs (%) % % % % % % % % % Write-off (US$) Leverage & Solvency Ratios BIS (%) 27.77% 22.13% 24.21% 22.13% 23.64% 23.58% 23.18% 24.21% 23.18% Tier 1 Ratio (%) 26.51% 20.86% 22.95% 20.86% 22.38% 22.31% 21.91% 22.95% 21.91%