Taishin Financial held its first quarter legal meeting today, where significant organizational and financial strategies were announced. General Manager Lin Welch revealed that the board of directors approved a dividend payout of NT$1 per share, split into NT$0.6 cash and NT$0.4 stock, marking an increase from last year’s 55% to 60% dividend distribution rate.
Amidst these financial updates, Taishin Financial is also seeing changes in its leadership. The board has nominated Wang Mei-hua, the current Minister of Economic Affairs, as the new independent director. The appointment is set to be confirmed in the upcoming shareholders’ meeting scheduled for June 14.
Lin Welch highlighted the company’s robust financial health, noting a net profit after tax of NT$5.011 billion for the first quarter. The earnings per share stood at NT$0.36 with a return on shareholders’ equity of 10.53%, and a net value per share of NT$13.93. These figures come as a result of a resilient global economic recovery and an uptick in corporate and investment momentum.
The bank’s income streams showed significant growth, with net fee income and net interest income up by 30.8% and 10.6% respectively. Taishin Bank, a subsidiary, reported a 10.1% increase in total deposit balance and a 13.1% rise in total loan balance, with personal credit growing by 16.26%.
Furthermore, Taishin’s credit card business continued to excel with transaction amounts and gross fee income up by 19.1% and 20.5%, respectively. The firm’s securities and life insurance arms also reported strong performances, contributing notably to the consolidated results.
In a strategic move to enhance its international presence, Taishin Bank recently inaugurated a branch in Fukuoka, Japan, marking its second service base in the country following the Tokyo branch established in 2016. This expansion is part of Taishin’s broader strategy to increase its footprint in corporate and real estate financing across various Japanese regions.
As Taishin Financial continues to navigate through a dynamic economic landscape, these developments underscore its commitment to growth, shareholder value, and strategic expansion.
