Q1 2025 CTBC Financial Holding Co Ltd Earnings Call Transcript
Key Points
- CTBC Financial Holding Co Ltd (TPE:2891) reported a strong Q1 performance with a pre-tax net profit of TWD19.9 billion and an after-tax EPS of TWD1.02.
- The bank's after-tax net profit increased by 11% YoY, maintaining double-digit growth and setting new YoY records.
- Overseas business showed impressive growth with a pre-tax profit of TWD6.4 billion, up 17% YoY, accounting for 37% of the bank's profit.
- The company has been recognized for its ESG efforts, being selected into the S&P Global Sustainability Yearbook for six consecutive years and achieving the highest level, level A, by the CDP.
- CTBC Financial Holding Co Ltd (TPE:2891) plans to issue TWD30 billion in cumulative sub-debts to bolster its financial structure and capital adequacy.
- Taiwan Life's after-tax net profit decreased by 27% YoY due to a high base for capital gains from the previous year.
- The sharp depreciation of the dollar resulted in large exchange losses for Taiwan Life, leading to an after-tax net loss of TWD1.3 billion to TWD2 billion for the month.
- Economic growth forecasts for Taiwan have been lowered to below 3% due to tariff impacts, affecting market conditions.
- The company's swap revenue in Q1 was down by about 30% YoY.
- Credit costs increased to 33 basis points in Q1, higher than the previous guidance of 25 to 30 bps, due to strong loan momentum.
Welcome to CTBC Holding 2025 Q1 earnings call. (Operator Instructions) Now I'm going to give the floor to the management team.
Good afternoon, media friends, investors, and analysts. Thank you for attending CTBC Holding's 2025 Q1 earnings call. In addition to myself, also present are Megan Hsu, CFO of CTBC Holding; Pai-Hung Yeh, CSO of Taiwan Life; and also Justine Shen, representing the IR team.
Now I'm going to talk about our Q1 performance. In Q1, the performance was great. Our pre-tax net profit amounted to TWD19.9 billion, after-tax EPS TWD1.02, ROE 17.3%. Such a good performance mainly come from bank.
In Q1, the performance was great. The after-tax net profit, TWD13.4 billion, up 11% YoY. And it maintains double-digit growth, continued to set new YoY records, and ranks first among bank peers. So overall, the bank's deposit and loan base has strong momentum. In Q1, loan grew 14% YoY, driving NII up nearly 19%. Fee income grew 12% YoY, driven by wealth management, credit, and credit
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