Fubon Financial (2881) Q4 2024 earnings summary

Executive summary

• Net profit reached NT$150.82 billion in 2024, a record high and the largest among Taiwan's FHCs, with EPS of NT$10.77.

• Total assets surpassed NT$12.07 trillion, up 8.7% year-over-year, and net worth rose to NT$951.13 billion.

• All major subsidiaries—life insurance, banking, securities, and asset management—achieved record net profits.

• Maintained leading market positions across life, insurance, banking, and securities segments in Taiwan.

• Consolidated financial statements for 2024 and 2023 were audited by KPMG with an unqualified opinion.

Financial highlights

• Net income to parent company surged 128% year-over-year to NT$150.82 billion; net revenue doubled to NT$347.5 billion.

• EPS and net profit have shown sequential increases over the past three years.

• Asset scale surpassed NT$12 trillion, with net worth growing 18% year-over-year.

• ROA reached 1.3% and ROE 17.2%, both improving sequentially over three years.

• Capital adequacy ratio reached 141.05%, well above regulatory requirements.

Outlook and guidance

• Focus for 2025 includes product mix transition in life insurance, risk management in insurance, and branch optimization in banking.

• Digital initiatives include a new mobile app and preparation for a digital trading platform.

• Emphasis on ESG, sustainability, and digitization as growth opportunities.

• Preparation for IFRS 17 and Taiwan ICS adoption in 2026, with product mix and capital adjustments underway.