First Financial Holding Co., Ltd. (第一金控) 2025年前三季營運報告
Company Overview
報告日期: December 3, 2025 報告期間: 2025年前三季 (9M25)
持續穩健的獲利成長 (Page 5)
- 獲利表現: 克服外在經營環境變動，2025年累積前三季第一金控稅後淨利達 NT$216.99億元，與子公司第一銀行獲利同創歷史新高，而非銀行子公司獲利亦有所斬獲。
- 獲利動能: 銀行獲利動能來自存放利收擴增及財管手收強勁。淨利收與淨手收年增率達 9% 近雙位數漲幅。前三季財管手收年增率高達 23.7%，其中以銀行保險業務表現最為亮眼。
- 資產品質: 在追求獲利的同時，資產品質亦有所提升。銀行淨提存費用年減 -13.1%，逾放比維持 0.17% 低檔水準，而覆蓋率上升至 847.89%，彰顯嚴謹的授信風險管理能力。
免責聲明 (Page 2)
- 本份簡報內容並未經會計師或任何獨立公正第三者查閱。
- 使用者應參考第一金控向主管機關所申報公開且完整的各項財務業務訊息。
- 簡報可能包含前瞻性陳述，其結果可能因法規變化、競爭環境、科技發展、經濟情勢與經營上的改變等因素而產生重大差異。
- 簡報內容非為買賣或提供買賣任何有價證券或金融商品的邀約、引誘或建議。
Financial Highlights
第一金控主要財務數字 (9M25 vs 9M24) (Page 7)
| 經營績效 (in NT$, NT$ mn) | 3Q24 | 3Q25 | YoY % |
|---|---|---|---|
| 稅後淨利 (Net Income After Tax) | 20,808 | 21,699 | +4.3% |
| 綜合損益 (Comprehensive Income) | 28,293 | 27,748 | -1.9% |
| 總資產 (Total Assets) | 4,647,219 | 4,919,623 | +5.9% |
| 每股盈餘 (EPS) | 1.45 | 1.51 | +4.1% |
| 每股淨值 (Book Value Per Share) | 18.90 | 19.61 | +3.8% |
| 股本 (Capital Stock) | 140,287 | 143,795 | +2.5% |
| 平均淨值報酬率¹ (Avg. ROAE) | 10.80% | 10.52% | -2.6% |
| 平均資產報酬率¹ (Avg. ROAA) | 0.61% | 0.60% | -1.6% |
| 集團資本適足率 (Group CAR) | 128.50% | 132.50% | +3.1% |
| 雙重槓桿比率² (Double Leverage Ratio) | 112.00% | 114.39% | +2.1% |
- Footnote 1: 年化後數字 (Annualized figures).
- Footnote 2: 雙重槓桿比率 = 股權投資/股東權益 (Double Leverage Ratio = Equity Investment / Shareholders' Equity).
獲利組合 (9M25) (Page 7)
| 子公司 | 稅後淨利 (NT$ mn) | 佔比 |
|---|---|---|
| 銀行 (First Bank) | NT$20,551 | 94.7% |
| 證券 (First Securities) | NT$756 | 3.5% |
| 人壽 (First Life) | NT$684 | 3.2% |
| AMC (First AMC) | NT$162 | 0.7% |
| 投信 (First SITC) | NT$132 | 0.6% |
| 其它 (Other) | -NT$586 | -2.7% |
第一金控主要財務比率 (Page 30)
| FFHC Key Ratios | 3Q24 | 3Q25 | Change |
|---|---|---|---|
| After-tax ROAA (Annualized ratio) | 0.61% | 0.60% | -1.6% |
| After-tax ROAE (Annualized ratio) | 10.80% | 10.52% | -2.6% |
| Book Per Share (NT$) | 18.90 | 19.61 | 3.8% |
| Capital Stock (NT$ million) | 140,287 | 143,795 | 2.5% |
| Double leverage | 112.00% | 114.39% | 2.1% |
| Group CAR | 128.50% | 132.50% | 3.1% |
| Debt Ratio¹ | 12.07% | 13.85% | 14.7% |
- Footnote 1: Non-consolidated basis.
Recent Performance and Results (營運成果)
第一金控稅後淨利與綜合損益 (9M25 vs 9M24) (Page 8)
| 項目 (in NT$ mn) | 2024前三季 | 2025前三季 | YoY % |
|---|---|---|---|
| 淨收益 (Net Revenue) | 55,381 | 57,934 | ↑ 4.6% |
| 呆帳準備 (Provision for Credit Losses) | (4,165) | (3,679) | ↓ 11.7% |
| 保險準備 (Insurance Reserve) | (1,812) | (2,629) | ↑ 45.1% |
| 營業費用 (Operating Expense) | (24,043) | (25,081) | - |
| 所得稅 (Income Tax) | (4,553) | (4,846) | - |
| 淨利 (Net Income) | 20,808 | 21,699 | ↑ 4.3% |
| 綜合損益 (Comprehensive Income) | 28,293 | 27,748 | ↓ 1.9% |
子公司獲利表現 (9M25 vs 9M24) (Page 9)
| 子公司 (in NT$ mn) | 2024前三季 | 2025前三季 | YoY % |
|---|---|---|---|
| 第一銀行 (First Bank) | 19,443 | 20,551 | ↑ 5.7% |
| 第一金證券 (First Securities) | 931 | 756 | ↓ 18.8% |
| 第一金投信 (First SITC) | 112 | 132 | ↑ 17.9% |
| 第一金人壽 (First Life) | 473 | 684 | ↑ 44.6% |
| 第一金AMC (First AMC) | 124 | 162 | ↑ 30.6% |
| 第一金控 (FFHC) | 20,808 | 21,699 | ↑ 4.3% |
第一銀行營運成果 (First Bank Operating Results)
稅前獲利結構 (9M25 vs 9M24) (Page 12)
| 項目 (in NT$ mn) | 3Q24 | 3Q25 | Change |
|---|---|---|---|
| 累積淨收益 (Cumulative Net Revenue) | 48,445 | 50,075 | +3.4% |
| 淨利收 (Net Interest Income) | 20,875 | 22,789 | ↑ 9.2% |
| 淨手收 (Net Fee Income) | 8,879 | 9,684 | ↑ 9.1% |
| 金融商品收益 (Financial Product Income) | 17,906 | 16,972 | ↓ 5.2% |
| 呆帳費用(毛額) (Gross Provision Expense) | 6,351 | 6,054 | ↓ 4.7% |
| 營業費用 (Operating Expense) | 20,616 | 21,537 | ↑ 4.5% |
| 稅前獲利 (Pre-tax Profit) | 23,674 | 24,929 | ↑ 5.3% |
淨收益佔比分析 (3Q25)
| 項目 | 3Q24 | 3Q25 | Change |
|---|---|---|---|
| 淨利收 | 43.1% | 45.5% | +2.4% |
| 淨手續費收益 | 18.3% | 19.3% | +1.0% |
| 投資收益/其他金融商品 | 32.3% | 29.1% | -3.2% |
| 稅前獲利 | 48.9% | 49.8% | +0.9% |
| 營業費用 | -42.5% | -43.0% | -0.5% |
放款結構 (3Q25) (Page 13)
-
總放款餘額¹: 2,744.1 bn (YoY +6.8%)
-
放款結構 (3Q25):
- 消金放款 (Consumer Loans): 31.6% (+0.7%)
- 房貸 (Housing Loans): 27.4% (+0.2%)
- 法金放款 (Corporate Loans): 68.4% (-0.7%)
- 大企業放款 (Large Corp): 13.7% (+0.5%)
- 中小企業放款² (SME Loans): 36.2% (-0.7%)
- 外幣放款 (Foreign Currency Loans): 16.6% (-0.1%)
- 海外分行 (Overseas Branches): 11.7% (-0.4%)
- 消金放款 (Consumer Loans): 31.6% (+0.7%)
-
Footnote 1: 總放款不含催收款 (Total loans exclude non-accrual loans).
-
Footnote 2: 中小企業放款依經濟部”中小企業認定標準” (SME loans based on MOEA definition).
季度放款成長 (QoQ 3Q25 vs 2Q25) (Page 14)
- 總放款: ↑ 3.3% (2,744.1 bn)
- 房屋貸款: ↑ 1.2% (750.4 bn)
- 中小企業放款: ↑ 1.5% (992.8 bn)
- 大企業放款: ↑ 7.4% (375.7 bn)
- 外幣放款: ↑ 9.3% (456.7 bn)
存放比、利差與淨利息收益率 (Page 15)
-
總放款¹ (3Q25): 2,749.2 bn
-
存放比 (3Q25): 70.34% (台幣 82.8%, 外幣 43.0%)
-
淨利息收益率 (NIM)² (3Q25 YTD Avg): 1.13%
-
存放利差² (3Q25 YTD Avg): 0.71%
-
Footnote 1: 總放款 = 放款+進/出口買匯+催收款項 (Total loans = Loans + Import/Export Bills + Non-accrual loans).
-
Footnote 2: 利差及淨利息收益率均為累積年度平均數 (Spread and NIM are cumulative annual average).
存放款利率及利差 (季度加權平均數字) (Page 16)
| 項目 | 3Q25 |
|---|---|
| 台幣利率及利差 | |
| 存款利率(台幣) | 1.09% |
| 放款利率(台幣) | 2.37% |
| 利差(台幣) | 1.28% |
| 外幣利率及利差 | |
| 存款利率(外幣) | 3.24% |
| 放款利率(外幣) | 5.30% |
| 利差(外幣) | 2.06% |
存款結構 (Page 17)
- 總存款 (3Q25): 3,823.7 bn (YoY +5.5%)
- 新台幣存款: 2,762.2 bn (+6.5%)
- 外幣存款: 1,061.5 bn (+2.8%)
- 新台幣活存比 (3Q25): 62.08%
特定產業貸放集中度 (Page 18)
- 製造業 (24.08%):
- 電子資訊: 5.74%
- 金屬: 5.21%
- 塑化: 4.20%
- 機械: 4.01%
- 非製造業 (75.92%):
- 不動產: 11.02%
- 批發零售: 9.53%
- 金融及保險: 4.91%
- 營造: 3.06%
- 運輸倉儲: 2.71%
房貸分析 (Page 19)
- 房貸逾放比 (3Q25): 0.11%
- 平均房貸利率 (3Q25): 2.30%
- 新承作房貸成數 (3Q25): 64.79%
- 平均房貸成數 (3Q25): 48.80%
- 房貸區域分析 (3Q25):
- 北北基 (North/Taipei/Keelung): 43.4%
- 桃竹苗 (Taoyuan/Hsinchu/Miaoli): 19.8%
- 中彰投 (Central/Changhua/Nantou): 12.7%
- 高屏 (Kaohsiung/Pingtung): 11.2%
- 雲嘉南 (Yunlin/Chiayi/Tainan): 10.0%
- 宜蘭花東 (Yilan/Hualien/Taitung): 2.9%
淨手續費結構 (9M25 vs 9M24) (Page 20)
-
累積淨手續費收益 (3Q25): 9,684 mn (YoY +9.1%)
-
淨手續費結構 (3Q25):
- 財富管理¹: 67.4% (YoY +8.0%)
- 放款相關: 19.1% (YoY -6.7%)
- 外匯: 5.3% (YoY -0.5%)
- 信用卡: 3.4% (YoY +0.3%)
- 其他²: 4.8% (YoY -1.1%)
-
Footnote 1: 財富管理手續費收入 = 基金銷售+銀行保險+保管 (Wealth management fee income = Fund sales + Bank insurance + Custody).
-
Footnote 2: 分行(含海外分行)通路手續費 (Branch (including overseas branches) channel fee income).
季度淨手續費收益 (3Q25 vs 2Q25 QoQ) (Page 21)
- 每季淨手續費收益 (3Q25): 3,187 mn (QoQ ↑ 0.4%)
- 銀行保險: 1,024 mn (QoQ ↓ 11.0%)
- 基金銷售: 895 mn (QoQ ↑ 7.8%)
營業費用 (Page 22)
- 累積營業費用 (9M25): 21,537 mn (YoY +4.5%)
- 累積營業費用佔比 (Cost-to-Income Ratio) (3Q25): 43.01%
資產品質 (Page 23)
- 逾放比 (NPL Ratio) (3Q25): 0.17% (YoY -5.6%)
- 覆蓋率 (Coverage Ratio) (3Q25): 847.89% (YoY +10.1%)
- 逾放金額 (3Q25): 4,610 mn
- 呆帳提存準備 (3Q25): 39,092 mn
- 個人與房貸逾放比率 (3Q25): 個人 0.12%, 房貸 0.11%
- 大企業與中小企業逾放比 (3Q25): 大企業 0.00%, 中小企業 0.17%
海外業務盈餘 (Page 24)
- 全行稅前獲利 (3Q25): NT$ 24,929 mn
- 國內市場: 71.34%
- 海外/OBU: 28.66%
- 海外稅前獲利 (3Q25): NT$ 7,145 mn
- OBU/大中華: 46.01%
- 東協 (ASEAN): 18.45%
- 北美 (North America): 10.00%
- 其它海外地區: 25.54%
- 累積海外稅前獲利/一銀全行累積稅前獲利 (9M25): 28.66% (vs 9M24 22.93%)
Outlook & Strategy
步入2026年,第一金集團將克服外在環境挑戰,再創獲利佳績 (Page 5)
- 環境挑戰: 預期明年台灣經濟成長率僅 2.81% (相對偏低)，面對景氣降溫的挑戰。
- 銀行策略:
- 調整放款結構。
- 爭取台商海外投資與聯貸商機。
- 深耕亞灣專區。
- 開拓私人銀行業務版圖。
- 引進 AI 科技增進營運效率。
- 金控策略: 提升證券、人壽子公司市場競爭力，打造金控第二獲利引擎。
Additional Data
資本適足率與核心資本 (Page 25)
| 項目 | 3Q24 | 3Q25 |
|---|---|---|
| 金控集團資本適足率 | ||
| 集團資本適足率 (Group CAR) | 128.50% | 132.50% |
| 法定資本適足率 (Statutory CAR) | 100% | 100% |
| 一銀資本適足率與第一類資本 | ||
| 一銀資本適足率 (First Bank CAR) | 14.68% | 15.64% |
| 第一類資本 (Tier-1 Capital) | 12.47% | 13.38% |
第一銀行主要財務比率 (Page 32)
| FB Key Ratios (Non-consolidated basis) | 3Q24 | 3Q25 | Change |
|---|---|---|---|
| Loan to deposit spread | 1.18% | 1.13% | -4.2% |
| Net Interest Margin | 0.68% | 0.71% | 4.4% |
| Cost to income ratio | 42.56% | 43.01% | 1.1% |
| Loan to deposit ratio | 71.02% | 70.34% | -1.0% |
| NPL ratio | 0.18% | 0.17% | -5.6% |
| Domestic NPL ratio | 0.11% | 0.13% | 18.2% |
| Overseas NPL ratio | 0.56% | 0.39% | -30.4% |
| Coverage ratio | 769.77% | 847.89% | 10.1% |
| CAR | 14.68% | 15.64% | 6.5% |
| Tier-1 | 12.47% | 13.38% | 7.3% |
| ROAA (Annualized) | 0.59% | 0.59% | 0.0% |
| ROAE (Annualized) | 9.84% | 9.55% | -2.9% |
第一金證券營運報告 (Page 34)
| First Sec Income Statement Summary (in NT$ million) | 3Q24 | 3Q25 | Change |
|---|---|---|---|
| Total operating income | 2,440 | 2,230 | -8.6% |
| Brokerage commission | 1,597 | 1,364 | -14.6% |
| Net interest income | 196 | 222 | 13.3% |
| Underwriting commission | 64 | 33 | -48.4% |
| Income before tax | 1,064 | 916 | -13.9% |
| Net income | 931 | 756 | -18.8% |
| Key Ratios | |||
| ROAE (Annualized) | 13.99% | 10.60% | -24.2% |
| ROAA (Annualized) | 2.97% | 2.12% | -28.6% |
| Brokerage market share | 1.27% | 1.23% | -3.1% |
| Margin loan market share | 2.18% | 2.23% | 2.3% |
第一金投信營運報告 (Page 35)
| FSITC Income Statement Summary (in NT$ million) | 3Q24 | 3Q25 | Change |
|---|---|---|---|
| Total operating income | 577 | 613 | 6.2% |
| Management fee | 553 | 597 | 8.0% |
| Income before tax | 139 | 164 | 18.0% |
| Net income | 112 | 132 | 17.9% |
| FSITC Key Data | |||
| AUM (NT$ million) | 141,675 | 174,846 | 23.4% |
| AUM Ranking | 14 | 14 | - |
第一金人壽營運報告 (Page 36)
| First Life Financial Results Summary (in NT$ million) | 3Q24 | 3Q25 | Change |
|---|---|---|---|
| Operating Revenue | 11,924 | 12,884 | 8.1% |
| Premium Income | 9,702 | 10,719 | 10.5% |
| Net Investment Income | 2,070 | 2,065 | -0.2% |
| Profit/Loss Before Tax | 380 | 565 | 48.7% |
| Net Income after tax | 473 | 684 | 44.6% |
| Key Ratios | |||
| ROAE (Annualized ratio) | 10.91% | 14.15% | 29.7% |
| ROAA (Annualized ratio) | 0.68% | 0.95% | 39.7% |