CTBC Financial Holding Co Ltd (TPE:2891A.PFD)
NT$ 36.1 (0%) Market Cap: - Enterprise Value: - PE Ratio: 11.89 PB Ratio: 1.71 GF Score: 67/100
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Q3 2024 CTBC Financial Holding Co Ltd Earnings Call Transcript

Nov 19, 2024 / 07:30 AM GMT

Key Points

Positve
  • CTBC Financial Holding Co Ltd (TPE:2891) achieved a record high pre-tax profit of 71.3 billion and a net profit of 58.6 billion for the first three quarters of 2024.
  • The company reported a 40% year-over-year growth in fee income, driven by strong performance in wealth management and credit card operations.
  • Taiwan Life, a subsidiary, achieved a net profit of 21.1 billion for the first three quarters, marking a 46% year-over-year growth.
  • CTBC Financial Holding Co Ltd (TPE:2891) maintained a strong capital position with a group CAR of 123% and a life RBC ratio of 336%.
  • The company has been recognized for its sustainability efforts, ranking among the top 5% globally in banking sustainability performance.
Negative
  • The swap revenue decreased in Q3 due to the Fed's interest rate cuts, impacting overall income.
  • The company anticipates a moderate growth in NIM for Q4, with no significant increase expected.
  • Taiwan Life's CSM target for 2024 is lower than 2023 due to a slowdown in policy sales in the first half of the year.
  • The company faces competitive pressures in the market, limiting the potential for significant repricing of loans.
  • There is uncertainty regarding the impact of asset reallocation on net asset value due to interest rate fluctuations.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

2891.TW - CTBC Financial Holding Co Ltd
Q3 2024 CTBC Financial Holding Co Ltd Earnings Call
Nov 19, 2024 / 07:30AM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to the CD BC Holding Analyst meeting for the third quarter of 2024.

Today's meeting will be hosted by CD BC Holding President, MS Rachel Gao CFO, MS Megan X CSO of Taiwan Life, Mr Yeu hong and head of IRM Justin Shen.

First of all, we would we would all we would be doing presentations first and after the presentation, we will have a Q&A session, we have provided interpreting service for today's meeting. And in order to ensure the quality of interpreting, please make sure that you're in a quiet environment to allow for a clear voice.

Now let us invite President Gao to deliver her opening remarks.

Good afternoon, members of the media investors and analysts. Thank you
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