Taishin 2012 earnings highest in eight years

The China Post news staff

TAIPEI, Taiwan — Taishin Financial Holding last year raked in earnings of NT$10.2 billion, the most in eight years, the firm said yesterday during its investors’ conference. For this year, the company is expected to see a better performance due to various positive factors, said Chief Financial Officer Lin Wei-chun. At the event, Taishin President Rao Shih-kan pointed out that 2012 was the firm’s best year since 2004, with net profit translating into earnings per share of NT$1.29 and per-share net worth of NT$12.24. Return on equity was NT$11.12 percent. Operating cost grew 5.4 percent year-on-year.

The financial firm’s capital adequacy ratio was 140.3 percent, while the figure for Taishin Bank was 13.2 percent. For the bank, its net interest income stood at NT$13.9 billion, increasing by 10.8 percent compared to 2011. Net interest margin stood at 1.43 percent during the fourth quarter. Lending increased by 9.1 percent. Net processing fee income stood at NT$6.4 billion, a rise of 4.6 percent compared to 2011. Operating cost was NT$14.1 billion, a rise of 5.3 percent. The bank’s recovery of bad loans led to its nonperforming loan ratio dropping to 0.14 percent and coverage rate 867 percent. Return on equity was 13.3 percent. As for the rest of 2013, Taishin expects moderate growth in its lending business, which includes personal loans, small and medium enterprise loans and mortgage loans, it said.