First Financial Holding Co., Ltd. 2025 全年營運報告
Company Overview
Title
第一金控 2025年全年營運報告 (First Financial Holding Co., Ltd. 2025 Full Year Operating Report) March 4, 2026
Disclaimer (Page 2)
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Table of Contents (Page 3)
- 業務摘錄 (Business Summary)
- 財務概要 (Financial Highlights)
- 營運成果 (Operating Results)
- 附件 (Appendix)
Financial Highlights
2025年獲利表現 (Page 5)
集團獲利趨勢 (in NT$ mn)
| Year | 稅後淨利 (Net Income After Tax) |
|---|---|
| 2018 | 17,332 |
| 2019 | 19,369 |
| 2020 | 16,808 |
| 2021 | 19,739 |
| 2022 | 20,596 |
| 2023 | 22,461 |
| 2024 | 25,359 |
| 2025 | 26,933 (+6.2%) |
第一金主要財務數字 (Page 8)
經營績效 (in NT$, NT$ mn)
| 項目 (Item) | 2024 | 2025 | YoY % |
|---|---|---|---|
| 稅後淨利 (Net Income After Tax) | 25,359 | 26,933 | +6.2% |
| 綜合損益 (Comprehensive Income) | 31,018 | 38,069 | +22.7% |
| 總資產 (Total Assets) | 4,704,422 | 5,041,754 | +7.2% |
| 每股盈餘 (EPS) | 1.76 | 1.87 | +6.3% |
| 每股淨值 (BPS) | 19.10 | 20.33 | +6.4% |
| 股本 (Capital Stock) | 140,287 | 143,795 | +2.5% |
| 平均淨值報酬率 (ROAE) | 9.82% | 9.61% | -2.1% |
| 平均資產報酬率 (ROAA) | 0.56% | 0.55% | -1.8% |
| 集團資本適足率 (Group CAR) | 126.05% | 130.73% | +3.7% |
| 雙重槓桿比率1 (Double Leverage Ratio1) | 111.97% | 114.32% | +2.1% |
Footnote:
- 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 (in NT$ mn) (2025)
- 銀行 (Bank): NT$25,663; 91.4%
- 人壽 (Life Insurance): NT$635; 2.3%
- 證券 (Securities): NT$1,111; 3.9%
- 投信 (Asset Management): NT$177; 0.6%
- AMC: NT$192; 0.7%
- 其他(創投+管顧) (Others (VC+Consulting)): NT$305; 1.1%
第一金稅後淨利與綜合損益 (Page 9)
2025合併淨利與綜合損益 (in NT$ mn)
- 淨收益 (Net Revenue): 77,594 (↑ 7.6%)
- 呆帳準備 (Provision for Credit Losses): (6,382) (↑ 10.7%)
- 保險準備 (Insurance Reserves): (4,056) (↑ 55.2%)
- 營業費用 (Operating Expenses): (33,707)
- 所得稅 (Income Tax): (6,516)
- 淨利 (Net Income): 26,933 (↑ 6.2%)
- 綜合損益 (Comprehensive Income): 38,069
2024合併淨利與綜合損益 (in NT$ mn)
- 淨收益 (Net Revenue): 72,119
- 呆帳準備 (Provision for Credit Losses): (5,763)
- 保險準備 (Insurance Reserves): (2,614)
- 營業費用 (Operating Expenses): (32,505)
- 所得稅 (Income Tax): (5,878)
- 淨利 (Net Income): 25,359
- 綜合損益 (Comprehensive Income): 31,018
子公司獲利表現* (Page 10)
2025主要子公司稅後淨利 (in NT$ mn)
- 第一銀行 (First Bank): 25,663 (↑ 7.8%)
- 第一金證券 (First Securities): 1,111 (↓ 6.1%)
- 第一金投信 (First Asset Management): 177
- 第一金人壽 (First Life Insurance): 635 (↑ 9.3%)
- 第一金AMC (First AMC): 192
- 第一金控 (First Financial Holding): 26,933 (↑ 6.2%)
2024主要子公司稅後淨利 (in NT$ mn)
- 第一銀行 (First Bank): 23,806
- 第一金證券 (First Securities): 1,183
- 第一金投信 (First Asset Management): 148
- 第一金人壽 (First Life Insurance): 581
- 第一金AMC (First AMC): 169
- 第一金控 (First Financial Holding): 25,359
Footnote:
- Major 5 subsidiaries were listed.
第一金與一銀獲利能力 - 稅後淨利 (Page 12)
第一金淨利&年化股東權益報酬率 (in NT$ mn)
| Period | 累積淨利 (Cumulative Net Income) | 年化股東權益報酬率 (Annualized ROAE) |
|---|---|---|
| 2023 | 22,461 | 9.51% |
| 3M24 | 7,015 | 11.04% |
| 6M24 | 13,729 | 10.92% |
| 9M24 | 20,808 | 10.80% |
| 2024 | 25,359 | 9.82% |
| 3M25 | 7,206 | 10.60% |
| 6M25 | 13,946 | 10.52% |
| 9M25 | 21,699 | 10.52% |
| 2025 | 26,933 | 9.61% |
一銀淨利&年化股東權益報酬率 (in NT$ mn)
| Period | 累積淨利 (Cumulative Net Income) | 年化股東權益報酬率 (Annualized ROAE) |
|---|---|---|
| 2023 | 21,526 | 8.89% |
| 3M24 | 6,493 | 10.04% |
| 6M24 | 12,799 | 9.92% |
| 9M24 | 19,443 | 9.84% |
| 2024 | 23,806 | 8.99% |
| 3M25 | 6,778 | 9.68% |
| 6M25 | 13,807 | 9.92% |
| 9M25 | 20,551 | 9.55% |
| 2025 | 25,663 | 8.79% |
一銀稅前獲利結構 (Page 13)
累積淨收益 (in NT$ mn)
- 2024: 62,930
- 2025: 66,564 (+5.8%)
一銀各項淨收益及費用佔比分析
| 項目 (Item) | 2024 | 2025 | Change |
|---|---|---|---|
| 淨利收 (Net Interest Income) | 44.3% | 47.1% | +2.8% |
| 淨手續費收益 (Net Fee Income) | 19.0% | 19.6% | +0.6% |
| 投資收益/短投 (Investment Income/Short-term Investment) | 1.8% | 1.7% | -0.1% |
| 投資收益/長投 (Investment Income/Long-term Investment) | 2.1% | 2.0% | -0.1% |
| 投資收益/其他金融商品 (Investment Income/Other Financial Products) | 31.5% | 28.6% | -2.9% |
| 其他 (Others) | 1.3% | 1.0% | -0.3% |
| 淨收益 (Net Revenue) | 100.0% | 100.0% | |
| 呆帳費用(淨額) (Net Provision for Credit Losses) | -9.2% | -9.3% | -0.1% |
| 營業費用 (Operating Expenses) | -44.3% | -43.3% | +1.0% |
| 稅前獲利 (Pre-tax Profit) | 46.5% | 47.4% | +0.9% |
稅前獲利結構 (in NT$ mn)
- 淨利收 (Net Interest Income): 2024: 27,888, 2025: 31,352 (↑ 12.4%)
- 淨手收 (Net Fee Income): 2024: 11,962, 2025: 13,059 (↑ 9.2%)
- 金融商品收益 (Financial Product Income): 2024: 22,237, 2025: 21,497 (↓ 3.3%)
- 呆帳費用(毛額) (Gross Provision for Credit Losses): 2024: 9,521, 2025: 9,270 (↓ 2.6%)
- 呆帳收回 (Bad Debt Recovery): 2024: 3,760, 2025: 3,067
- 營業費用 (Operating Expenses): 2024: 27,926, 2025: 28,843 (↑ 3.3%)
一銀放款結構 (Page 14)
總放款 (in NT$ bn)
- 2024: 2,642.9
- 2025: 2,808.3 (+6.3%)
總放款結構
| 項目 (Item) | 2024 | 2025 | Change |
|---|---|---|---|
| 消金放款 (Consumer Loans) | 31.1% | 31.6% | +0.5% |
| 房貸 (Mortgages) | 27.3% | 27.1% | -0.2% |
| 其他消金 (Other Consumer Loans) | 3.8% | 4.5% | +0.7% |
| 法金放款 (Corporate Loans) | 68.9% | 68.4% | -0.5% |
| 大企業放款 (Large Corporate Loans) | 13.2% | 13.5% | +0.3% |
| 中小企業放款2 (SME Loans2) | 36.3% | 36.2% | -0.1% |
| 外幣放款 (Foreign Currency Loans) | 16.8% | 17.2% | +0.4% |
| --- 海外分行 (--- Overseas Branches) | 12.1% | 12.2% | +0.1% |
| 政府公營 (Government & Public Sector) | 2.6% | 1.5% | -1.1% |
| 總放款1 (Total Loans1) | 100.0% | 100.0% |
Footnotes:
- 總放款不含催收款 (Total loans exclude non-performing loans)
- 中小企業放款依經濟部”中小企業認定標準” (SME loans are based on the Ministry of Economic Affairs' "SME Recognition Standards")
- 其他包含其他消費性貸款及政府及公營事業放款 (Others include other consumer loans and government & public sector loans)
總放款結構 (in NT$ bn)
- 房屋貸款 (Mortgage Loans): 2024: 720.6, 2025: 760.7 (↑ 5.6%)
- 大企業放款 (Large Corporate Loans): 2024: 349.3, 2025: 377.4 (↑ 8.0%)
- 中小企業放款2 (SME Loans2): 2024: 960.6, 2025: 1017.8 (↑ 6.0%)
- 外幣放款 (Foreign Currency Loans): 2024: 443.3, 2025: 483.2 (↑ 9.0%)
- Overseas: 2024: 318.6, 2025: 342.8 (↑ 7.6%)
- 其他3 (Others3): 2024: 169.1, 2025: 169.2
一銀放款結構 - 季度比較 (Page 15)
一銀季度放款成長 (in NT$ bn)
| Period | Total Loans | 房屋貸款 (Mortgage Loans) | 中小企業放款 (SME Loans) | 大企業放款 (Large Corporate Loans) | 外幣放款 (Foreign Currency Loans) | 其他 (Others) |
|---|---|---|---|---|---|---|
| 4Q24 | 2,642.9 | 720.6 | 960.6 | 349.3 | 443.3 | 169.1 |
| 1Q25 | 2,671.3 | 731.6 | 954.8 | 342.8 | 458.4 | 183.7 |
| 2Q25 | 2,655.4 | 741.4 | 978.3 | 349.7 | 417.8 | 168.2 |
| 3Q25 | 2,744.1 | 750.4 | 992.8 | 375.7 | 456.7 | 168.5 |
| 4Q25 | 2,808.3 | 760.7 | 1,017.8 | 377.4 | 483.2 | 169.2 |
| QoQ | ↑ 2.3% | ↑ 1.4% | ↑ 2.5% | ↑ 0.5% | ↑ 5.8% |
一銀存放比、利差與淨利息收益率 (Page 16)
總放款/存放比 (in NT$ bn)
| Period | 總放款1 (Total Loans1) | 存放比 (Loan-to-Deposit Ratio) |
|---|---|---|
| 1Q24 | 2,497.2 | 69.79% |
| 2Q24 | 2,534.4 | 69.59% |
| 3Q24 | 2,574.5 | 71.02% |
| 2024 | 2,647.2 | 71.11% |
| 1Q25 | 2,676.0 | 70.68% |
| 2Q25 | 2,659.5 | 70.03% |
| 3Q25 | 2,749.2 | 70.34% |
| 2025 | 2,813.5 | 70.47% |
- 台幣 (NTD): 81.9%
- 外幣 (Foreign Currency): 43.9%
存放利差/淨利息收益率 (NIM)
| Period | 存放利差2 (Deposit-Loan Spread2) | NIM2 |
|---|---|---|
| 1Q24 | 1.21% | 0.70% |
| 2Q24 | 1.20% | 0.70% |
| 3Q24 | 1.18% | 0.68% |
| 2024 | 1.17% | 0.67% |
| 1Q25 | 1.11% | 0.67% |
| 2Q25 | 1.11% | 0.71% |
| 3Q25 | 1.13% | 0.71% |
| 2025 | 1.15% | 0.72% |
Footnotes:
- 總放款 = 放款+進/出口買匯+催收款項 (Total loans = Loans + Import/Export Bills Purchased + Non-performing Loans)
- 利差及淨利息收益率均為累積年度平均數 (Interest spread and Net Interest Margin are cumulative annual averages)
一銀存放款利率及利差 (Page 17)
一銀台幣利率及利差分析
| Period | 存款利率(台幣) (NTD Deposit Rate) | 放款利率(台幣) (NTD Loan Rate) | 利差(台幣) (NTD Spread) |
|---|---|---|---|
| 4Q24 | 1.07% | 2.36% | 1.29% |
| 1Q25 | 1.09% | 2.35% | 1.26% |
| 2Q25 | 1.10% | 2.36% | 1.26% |
| 3Q25 | 1.09% | 2.37% | 1.28% |
| 4Q25 | 1.10% | 2.38% | 1.28% |
一銀外幣利率及利差分析
| Period | 存款利率(外幣) (Foreign Currency Deposit Rate) | 放款利率(外幣) (Foreign Currency Loan Rate) | 利差(外幣) (Foreign Currency Spread) |
|---|---|---|---|
| 4Q24 | 3.72% | 5.93% | 2.21% |
| 1Q25 | 3.49% | 5.57% | 2.08% |
| 2Q25 | 3.35% | 5.41% | 2.06% |
| 3Q25 | 3.24% | 5.30% | 2.06% |
| 4Q25 | 3.05% | 5.11% | 2.06% |
Footnote: *以上利率均為季度加權平均數字 (All interest rates are quarterly weighted averages)
一銀存款結構 (Page 18)
一銀存款結構 (in NT$ bn)
- 新台幣存款 (NTD Deposits): 2024: 2,647.4, 2025: 2,837.7 (+7.2%)
- 外幣存款 (Foreign Currency Deposits): 2024: 1,045.2, 2025: 1,100.1 (+5.3%)
- 總存款 (Total Deposits): 2025: 3,937.8 bn (+6.6% YoY)
一銀新台幣活存比結構
| Period | 新台幣活存比 (NTD Demand Deposit Ratio) |
|---|---|
| 1H24 | 63.31% |
| 2024 | 62.75% |
| 1H25 | 61.82% |
| 2025 | 62.13% |
一銀營業費用 (Page 23)
累積營業費用 (in NT$ mn)
- 2024: 27,926
- 2025: 28,843 (+3.3%)
營業費用 (in NT$ mn)
| 項目 (Item) | 2024 | 2025 |
|---|---|---|
| 淨收益 (Net Revenue) | 62,930 | 66,564 |
| 營業費用 (Operating Expenses) | (27,926) | (28,843) |
| 呆帳費用(淨) (Net Provision for Credit Losses) | (5,761) | (6,203) |
| 所得稅 (Income Tax) | (5,437) | (5,855) |
| 淨利 (Net Income) | 23,806 | 25,663 |
季度營業費用&累積營業費用佔比 (in NT$ mn)
| Period | 淨利收 (Net Interest Income) | 營業費用 (Operating Expenses) | 累積營業費用佔比 (Cumulative Operating Expense Ratio) |
|---|---|---|---|
| 2Q24 | 15,389 | 7,129 | 44.18% |
| 3Q24 | 17,461 | 6,928 | 42.56% |
| 4Q24 | 14,485 | 7,310 | 44.38% |
| 1Q25 | 15,595 | 7,072 | 45.35% |
| 2Q25 | 17,149 | 7,328 | 43.98% |
| 3Q25 | 17,331 | 7,137 | 43.01% |
| 4Q25 | 16,489 | 7,306 | 43.33% |
一銀資產品質 (Page 24)
逾放金額,呆帳提存準備,覆蓋率,逾放比 (in NT$ mn)
| Period | 逾放金額 (NPL Amount) | 呆帳提存準備 (Allowance for Credit Losses) | 覆蓋率 (Coverage Ratio) | 逾放比 (NPL Ratio) |
|---|---|---|---|---|
| 2Q24 | 4,492 | 33,473 | 745.24% | 0.18% |
| 3Q24 | 4,569 | 35,170 | 769.77% | 0.18% |
| 2024 | 4,480 | 36,727 | 819.77% | 0.17% |
| 1Q25 | 4,622 | 37,033 | 801.27% | 0.17% |
| 2Q25 | 4,378 | 36,911 | 843.19% | 0.16% |
| 3Q25 | 4,610 | 39,092 | 847.89% | 0.17% |
| 2025 | 4,734 | 40,812 | 862.04% | 0.17% |
個人1與房貸逾放比率
| Period | 個人1 (Individual1) | Mortgage |
|---|---|---|
| 2024 | 0.10% | 0.08% |
| 1Q25 | 0.15% | 0.10% |
| 2Q25 | 0.12% | 0.11% |
| 3Q25 | 0.12% | 0.11% |
| 2025 | 0.12% | 0.11% |
Footnote: 1.個人:包含房貸及個人非房貸 (Individual: includes mortgage loans and individual non-mortgage loans)
大企業與中小企業逾放比
| Period | 大企業 (Large Corporate) | 中小企業 (SME) |
|---|---|---|
| 2024 | 0.02% | 0.17% |
| 1Q25 | 0.01% | 0.18% |
| 2Q25 | 0.00% | 0.14% |
| 3Q25 | 0.00% | 0.17% |
| 2025 | 0.00% | 0.19% |
資本適足率與核心資本 (Page 26)
金控集團資本適足率
| Period | 集團資本適足率 (Group CAR) | 法定資本適足率 (Regulatory Capital Adequacy Ratio) |
|---|---|---|
| 1H23 | 128.09% | 100% |
| 2H23 | 130.05% | 100% |
| 1H24 | 122.45% | 100% |
| 2H24 | 126.05% | 100% |
| 1H25 | 129.83% | 100% |
| 2H25 | 130.73% | 100% |
一銀資本適足率與核心資本
| Period | 一銀資本適足率 (First Bank CAR) | 第一類資本 (Tier-1 Capital) | CET 1 |
|---|---|---|---|
| 1H23 | 14.26% | 12.32% | 10.59% |
| 2H23 | 14.56% | 12.61% | 10.91% |
| 1H24 | 13.87% | 11.96% | 10.37% |
| 2H24 | 14.45% | 12.29% | 10.75% |
| 1H25 | 15.38% | 13.14% | 11.51% |
| 2H25 | 15.46% | 13.22% | 11.70% |
Business Segments
一銀特定產業貸放集中度 (Page 19)
特定產業貸放佔比
- 製造業 (Manufacturing) (23.45%)
- 塑化 (Plastics & Chemicals): 4.02%
- 金屬 (Metals): 5.27%
- 電子資訊 (Electronics & IT): 5.35%
- 機械 (Machinery): 3.87%
- 非製造業 (Non-Manufacturing) (76.55%)
- 營造 (Construction): 3.11%
- 批發零售 (Wholesale & Retail): 9.82%
- 不動產 (Real Estate): 11.08%
- 運輸倉儲 (Transportation & Storage): 2.73%
- 金融及保險 (Finance & Insurance): 5.38%
一銀房貸分析 (Page 20)
房貸利率& 房貸成數比
| Period | 平均房貸利率 (Average Mortgage Rate) | 新承作房貸成數 (New Mortgage LTV) | 平均房貸成數 (Average Mortgage LTV) |
|---|---|---|---|
| 4Q24 | 2.28% | 48.84% | 64.86% |
| 1Q25 | 2.28% | 48.83% | 64.87% |
| 2Q25 | 2.30% | 48.86% | 64.84% |
| 3Q25 | 2.30% | 48.80% | 64.79% |
| 4Q25 | 2.31% | 48.85% | 64.86% |
一銀房貸區域分析
- 房貸逾放比 (Mortgage NPL Ratio): 0.11%
- 北北基 (Taipei, New Taipei, Keelung): 43.3%
- 桃竹苗 (Taoyuan, Hsinchu, Miaoli): 19.9%
- 中彰投 (Taichung, Changhua, Nantou): 12.7%
- 雲嘉南 (Yunlin, Chiayi, Tainan): 10.0%
- 高屏 (Kaohsiung, Pingtung): 11.2%
- 宜蘭花東 (Yilan, Hualien, Taitung): 2.9%
單月新承作房貸金額 (in NT$ mn)
- 10M24: 13,452
- 11M24: 13,885
- 12M24: 12,480
- 1M25: 11,514
- 2M25: 11,918
- 3M25: 9,035
- 4M25: 10,226
- 5M25: 10,417
- 6M25: 8,985
- 7M25: 11,445
- 8M25: 9,512
- 9M25: 7,618
- 10M25: 11,252
- 11M25: 10,648
- 12M25: 6,699
一銀淨手續費結構 (Page 21)
累積淨手續費收益 (in NT$ mn)
- 2024: 11,962
- 2025: 13,059 (+9.2%)
淨手續費結構
| 項目 (Item) | 2024 | 2025 | Change |
|---|---|---|---|
| 財富管理1 (Wealth Management1) | 60.9% | 67.8% | +6.9% |
| 放款相關 (Loan-related) | 23.9% | 18.8% | -5.1% |
| 外匯 (Foreign Exchange) | 5.8% | 5.3% | -0.5% |
| 信用卡 (Credit Card) | 3.3% | 3.4% | +0.1% |
| 其他2 (Others2) | 6.1% | 4.7% | -1.4% |
| 淨手續費收益 (Net Fee Income) | 100.0% | 100.0% |
Footnotes:
- 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)
- 分行(含海外分行)通路手續費 (Branch (including overseas branches) channel fee income)
累積淨手續費收益結構 (in NT$ mn)
- 財富管理1 (Wealth Management1): 2024: 7,282, 2025: 8,851 (↑ 21.5%)
- 放款相關 (Loan-related): 2024: 2,855, 2025: 2,455 (↓ 14.0%)
- 外匯 (Foreign Exchange): 2024: 699, 2025: 698
- 信用卡 (Credit Card): 2024: 397, 2025: 448
- 其他2 (Others2): 2024: 729, 2025: 607
一銀淨手續費收益 - 季度比較 (Page 22)
季度淨手續費收益 (in NT$ mn)
| Period | 每季淨手續費收益 (Quarterly Net Fee Income) | 財富管理2 (Wealth Management2) | 放款相關 (Loan-related) | 外匯相關 (Foreign Exchange-related) | 信用卡 (Credit Card) | 其他1 (Others1) |
|---|---|---|---|---|---|---|
| 4Q24 | 3,083 | 1,121 | 168 | 565 | 120 | 208 |
| 1Q25 | 3,323 | 1,219 | 166 | 650 | 87 | 132 |
| 2Q25 | 3,174 | 1,150 | 169 | 577 | 119 | 149 |
| 3Q25 | 3,187 | 1,024 | 173 | 625 | 126 | 177 |
| 4Q25 | 3,375 | 1,169 | 184 | 603 | 116 | 149 |
| QoQ | ↑ 5.9% |
- 銀行保險 (Bank Insurance): 4Q24: 715; 1Q25: 902; 2Q25: 830; 3Q25: 895; 4Q25: 970 (↑ 14.2%)
- 基金銷售 (Fund Sales): ↑ 8.4%
Footnotes:
- 分行(含海外分行)通路手續費 (Branch (including overseas branches) channel fee income)
- 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)
一銀海外業務盈餘 (Page 25)
海外分行稅前獲利分析 (2025)
- 2025 海外稅前獲利 (2025 Overseas Pre-tax Profit): NT$ 9,313mn
- OBU/大中華 (OBU/Greater China): 48.95%
- 北美 (North America): 24.63%
- 東協 (ASEAN): 16.85%
- 其他 (Others): 9.57%
全行稅前獲利分析 (2025)
- 2025 全行稅前獲利 (2025 Total Pre-tax Profit): NT$ 31,518mn
- 國內市場 (Domestic Market): 70.45%
- OBU/大中華 (OBU/Greater China): 14.46%
- 其它海外地區 (Other Overseas Regions): 15.09%
季度海外稅前獲利佔比分析 (in NT$ mn)
| Period | 海外 (Overseas) | 全行 (Total) | 累積海外稅前獲利/一銀全行累積稅前獲利 (Cumulative Overseas Pre-tax Profit / First Bank Total Cumulative Pre-tax Profit) |
|---|---|---|---|
| 3Q24 | 1,672 | 7,997 | 22.93% |
| 4Q24 | 2,662 | 5,569 | 27.67% |
| 1Q25 | 2,260 | 8,455 | 26.73% |
| 2Q25 | 2,326 | 8,573 | 26.93% |
| 3Q25 | 2,559 | 7,901 | 28.66% |
| 4Q25 | 2,168 | 6,589 | 29.55% |
Outlook & Strategy
立足2025年獲利基礎,再創2026年營運巔峰 (Page 6)
- 第一金控與子公司第一銀行2025年獲利再創新高 第一金控2025年稅後淨利達NT$269.33億元，創下歷史新高，主因受惠於子公司第一銀行獲利刷新紀錄達256.63億元以及非銀行子公司貢獻合計稅後淨利NT$24.20億元。
- 核心業務成長強勁抵銷淨提存費增加;資產品質穩健 2025年淨利息收入年增12.4%，放款規模同時成長約6.3%；淨手收在財管業務年成長21.5%的帶動下則年成長9.2%。為因應總體經濟之不確定性，策略性增提呆帳準備，逾放比維持0.17%，覆蓋率再上升至862.04%。
- 放款動能穩健,展現跨境融資成果 總授信餘額年增6.3%，中小企業放款成長6.0%，躍上兆元之峰，蟬聯16年市場龍頭。外幣及大企業放款分別成長9.0%與8.0%，展現深耕跨境融資成果；房貸業務亦在房市調控下維持5.6%之穩健增長。
- 銀行業務將領軍帶動獲利成長 因應關稅變動，銀行仍將支持產業的對外擴充，以帶動長期放款成長機會；另外，重點財管業務隨亞灣區法規鬆綁，持續針對高資產客戶開拓私人銀行版圖。為多元化集團獲利來源，繼續提升證券與人壽子公司獲利能力。
Additional Data
FFHC Consolidated Income Statement Summary (in NT$ million or %) (Page 28)
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Net interest income | 34,588 | 37,969 | 32,525 | 31,234 | 31,234 | 34,681 | 11.0% |
| Net service fee & commission | 10,383 | 9,409 | 10,187 | 12,782 | 12,782 | 13,817 | 8.1% |
| Net Insurance revenue | 9,525 | 8,980 | 3,147 | 3,671 | 3,671 | 5,384 | 46.7% |
| Gain on financial assets meas. at fair value through P/L | 3,356 | 3,271 | 19,205 | 19,237 | 19,237 | 19,664 | 2.2% |
| Real estate investment gain | 185 | 190 | 212 | 540 | 540 | 226 | -58.1% |
| Gain on financial assets at fair value through other compre. income | 3,176 | 1,984 | 584 | 1,672 | 1,672 | 2,808 | 67.9% |
| Income from equity invest. | 100 | 76 | 155 | 127 | 127 | (22) | |
| Excluding gain on fin. assets measured at amort.cost | (10) | (68) | (409) | (537) | (537) | (413) | -23.1% |
| Reserve of overlay approach | (43) | 237 | (235) | (441) | (441) | 713 | |
| Net gain on F/X | 877 | 5,300 | 1,158 | 3,535 | 3,535 | 418 | -88.2% |
| Assets impairment loss | 67 | (6) | (50) | (155) | (155) | 120 | |
| Others | 400 | 414 | 776 | 454 | 454 | 198 | -56.4% |
| Net Revenue | 62,604 | 67,756 | 67,255 | 72,119 | 72,119 | 77,594 | 7.6% |
| Net Provision for credit losses | (3,621) | (6,577) | (5,818) | (5,763) | (5,763) | (6,382) | 10.7% |
| Recovered(provided) for insurance res. | (9,275) | (8,906) | (2,793) | (2,614) | (2,614) | (4,056) | 55.2% |
| Operating Expense | (26,275) | (27,786) | (30,382) | (32,505) | (32,505) | (33,707) | 3.7% |
| Income from continued op. before tax | 23,433 | 24,487 | 28,262 | 31,237 | 31,237 | 33,449 | 7.1% |
| Income tax expenses | (3,694) | (3,891) | (5,801) | (5,878) | (5,878) | (6,516) | 10.9% |
| Consolidated net income | 19,739 | 20,596 | 22,461 | 25,359 | 25,359 | 26,933 | 6.2% |
| Other Items | (4,847) | (8,056) | 12,440 | 5,659 | 5,659 | 11,136 | 96.8% |
| Comprehensive Income | 14,892 | 12,540 | 34,901 | 31,018 | 31,018 | 38,069 | 22.7% |
| EPS¹(NT$) | 1.49 | 1.51 | 1.60 | 1.76 | 1.76 | 1.87 | 6.3% |
Footnote:
- EPS is adjusted retroactively for stock dividends paid the next year
FFHC Non-consolidated Income Statement Summary (in NT$ million, NT$, or %) (Page 29)
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Operating revenues | 20,333 | 21,270 | 23,514 | 26,359 | 26,359 | 28,299 | 7.4% |
| Income from long-term investment | 20,163 | 21,094 | 23,318 | 26,124 | 26,124 | 28,084 | 7.5% |
| Other income | 170 | 176 | 196 | 235 | 235 | 215 | -8.5% |
| Operating expenses | (403) | (413) | (440) | (485) | (485) | (526) | 8.5% |
| Other expenses and losses | (184) | (267) | (381) | (465) | (465) | (583) | 25.4% |
| Income from continued op. before tax | 19,747 | 20,590 | 22,693 | 25,409 | 25,409 | 27,190 | 7.0% |
| Net income | 19,739 | 20,596 | 22,461 | 25,359 | 25,359 | 26,933 | 6.2% |
| EPS¹(NT$) | 1.49 | 1.51 | 1.60 | 1.76 | 1.76 | 1.87 | 6.3% |
Footnote:
- EPS is adjusted retroactively for stock dividends paid the next year.
FFHC Balance Sheet Summary (in NT$ million or million shares) (Page 30)
Non-consolidated Balance Sheet Data
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Long-term investment | 241,171 | 244,673 | 271,903 | 296,683 | 296,683 | 330,702 | 11.5% |
| Total non-consolidated assets | 248,995 | 251,732 | 280,569 | 303,714 | 303,714 | 339,367 | 11.7% |
| Total liabilities | 24,449 | 27,609 | 32,125 | 35,828 | 35,828 | 47,000 | 31.2% |
| Total shareholders' equity | 224,547 | 224,123 | 248,444 | 267,886 | 267,886 | 292,367 | 9.1% |
Consolidated Balance Sheet Data
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Total consolidated assets | 3,739,594 | 4,157,196 | 4,429,410 | 4,704,422 | 4,704,422 | 5,041,754 | 7.2% |
| Total liabilities | 3,515,047 | 3,933,073 | 4,180,966 | 4,436,536 | 4,436,536 | 4,749,387 | 7.1% |
| Total shareholders' equity | 224,547 | 224,123 | 248,444 | 267,886 | 267,886 | 292,367 | 9.1% |
| Current shares outstanding* | 129,642 | 132,234 | 136,201 | 140,287 | 140,287 | 143,795 | 2.5% |
FFHC Key Ratios (Page 31)
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| After-tax ROAA (Annualized ratio) | 0.55% | 0.52% | 0.52% | 0.56% | 0.56% | 0.55% | -1.8% |
| After-tax ROAE (Annualized ratio) | 8.86% | 9.18% | 9.51% | 9.82% | 9.82% | 9.61% | -2.1% |
| Book Per Share | 17.32 | 16.95 | 18.24 | 19.10 | 19.10 | 20.33 | 6.4% |
| Capital Stock | 129,642 | 132,234 | 136,201 | 140,287 | 140,287 | 143,795 | 2.5% |
| Double leverage | 108.75% | 110.38% | 110.73% | 111.97% | 111.97% | 114.32% | 2.1% |
| Group CAR | 130.35% | 125.16% | 130.05% | 126.05% | 126.05% | 130.73% | 3.7% |
| Debt Ratio¹ | 9.82% | 10.97% | 11.45% | 11.80% | 11.80% | 13.85% | 17.4% |
Footnote:
- Non-consolidated basis
第一銀行非合併損益表 (FB Non-Consolidated Income Statement Summary in NT$ million or %) (Page 32)
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Net interest income | 32,263 | 35,001 | 29,245 | 27,888 | 27,888 | 31,352 | 12.4% |
| Net fee income | 7,969 | 8,103 | 8,919 | 11,962 | 11,962 | 13,059 | 9.2% |
| Net gain on ST invest. | 1,014 | 1,411 | 1,228 | 1,107 | 1,107 | 1,124 | 1.5% |
| Net gain on LT invest. | 763 | 1,062 | 1,104 | 1,316 | 1,316 | 1,325 | 0.7% |
| Net gain on other fin. products | 4,516 | 8,518 | 17,684 | 19,814 | 19,814 | 19,048 | -3.9% |
| Other net income | 337 | 389 | 540 | 843 | 843 | 656 | -22.2% |
| Net revenue | 46,862 | 54,484 | 58,720 | 62,930 | 62,930 | 66,564 | 5.8% |
| Operating expenses | (22,379) | (24,210) | (26,329) | (27,926) | (27,926) | (28,843) | 3.3% |
| Pre-provision pre-tax profit | 24,483 | 30,274 | 32,391 | 35,004 | 35,004 | 37,721 | 7.8% |
| Provision expense | (6,578) | (9,025) | (11,305) | (9,521) | (9,521) | (9,270) | -2.6% |
| Adjustment: bad-debt recovery | 3,013 | 2,539 | 5,542 | 3,760 | 3,760 | 3,067 | -18.4% |
| Income before tax | 20,918 | 23,788 | 26,628 | 29,243 | 29,243 | 31,518 | 7.8% |
| Income tax | (3,266) | (3,460) | (5,102) | (5,437) | (5,437) | (5,855) | 7.7% |
| Net income | 17,652 | 20,328 | 21,526 | 23,806 | 23,806 | 25,663 | 7.8% |
| Other items | (4,425) | (3,946) | 8,526 | 5,336 | 5,336 | 11,603 | 117.4% |
| Comprehensive income | 13,227 | 16,382 | 30,052 | 29,142 | 29,142 | 37,266 | 27.9% |
| EPS (NT$) | 1.86 | 1.99 | 1.95 | 1.94 | 1.94 | 2.09 | 7.7% |
Footnote:
- Non-consolidated basis
第一銀行主要財務比率 (FB Key Ratios) (Page 33)
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Loan to deposit spread | 1.41% | 1.48% | 1.34% | 1.17% | 1.17% | 1.15% | -1.7% |
| Net Interest Margin | 1.01% | 0.99% | 0.76% | 0.67% | 0.67% | 0.72% | 7.5% |
| Cost to income ratio | 47.76% | 44.44% | 44.84% | 44.38% | 44.38% | 43.33% | -2.4% |
| Loan to deposit ratio | 69.55% | 70.60% | 69.08% | 71.11% | 71.11% | 70.47% | -0.9% |
| NPL ratio | 0.20% | 0.18% | 0.17% | 0.17% | 0.17% | 0.17% | 0.0% |
| Domestic NPL ratio | 0.19% | 0.19% | 0.14% | 0.12% | 0.12% | 0.14% | 16.7% |
| Overseas NPL ratio | 0.24% | 0.10% | 0.35% | 0.42% | 0.42% | 0.33% | -21.4% |
| Coverage ratio | 620.31% | 709.24% | 826.96% | 819.77% | 819.77% | 862.04% | 5.2% |
| CAR | 14.21% | 13.76% | 14.56% | 14.45% | 14.45% | 15.46% | 7.0% |
| Tier-1 | 12.48% | 11.80% | 12.61% | 12.29% | 12.29% | 13.22% | 7.6% |
| ROAA (Annualized) | 0.51% | 0.53% | 0.52% | 0.54% | 0.54% | 0.55% | 1.9% |
| ROAE (Annualized) | 7.97% | 8.95% | 8.89% | 8.99% | 8.99% | 8.79% | -2.2% |
Footnote:
- Non-consolidated basis
第一銀行資產品質 (FB NPL Migration in NT$ million or %) (Page 34)
| Item | 2023 | 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| NPL- beginning | 4,121 | 4,099 | 4,480 | 4,622 | 4,378 | 4,610 | 4,099 | 4,480 | 9.3% |
| Net new NPL influx | 6,522 | 6,866 | 871 | 957 | 1,152 | 1,637 | 6,866 | 4,617 | -32.8% |
| Domestic | 1,191 | 2,966 | 938 | 605 | 1,091 | 1,395 | 2,966 | 4,029 | 35.8% |
| Overseas | 5,331 | 3,900 | (67) | 352 | 61 | 242 | 3,900 | 588 | -84.9% |
| Net write-offs | (6,544) | (6,485) | (729) | (1,201) | (920) | (1,513) | (6,485) | (4,363) | -32.7% |
| NPL- ending balance | 4,099 | 4,480 | 4,622 | 4,378 | 4,610 | 4,734 | 4,480 | 4,734 | 5.7% |
| Allowance for loan loss- beginning | 29,226 | 33,897 | 36,727 | 37,033 | 36,911 | 39,092 | 33,897 | 36,727 | 8.3% |
| Provisions for loan loss | 11,378 | 9,179 | 1,021 | 1,605 | 2,931 | 3,086 | 9,179 | 8,643 | -5.8% |
| Net write-offs | (6,544) | (6,485) | (729) | (1,201) | (920) | (1,513) | (6,485) | (4,363) | -32.7% |
| Others | (163) | 136 | 14 | (526) | 170 | 147 | 136 | (195) | |
| Allowance for loan loss- ending | 33,897 | 36,727 | 37,033 | 36,911 | 39,092 | 40,812 | 36,727 | 40,812 | 11.1% |
| Recovery from bad debt | 5,542 | 3,760 | 982 | 549 | 915 | 621 | 3,760 | 3,067 | -18.4% |
| Domestic | 3,405 | 1,940 | 938 | 466 | 451 | 556 | 1,940 | 2,411 | 24.3% |
| Overseas | 2,083 | 1,765 | 28 | 66 | 446 | 49 | 1,765 | 589 | -66.6% |
| Credit card | 54 | 55 | 16 | 17 | 18 | 16 | 55 | 67 | 21.8% |
Footnote:
- Non-consolidated basis
第一金證券營運報告 (First Sec Income Statement Summary in NT$ million or %) (Page 35)
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Total operating income | 3,508 | 1,929 | 2,745 | 3,200 | 3,200 | 3,170 | -0.9% |
| Brokerage commission | 2,255 | 1,382 | 1,499 | 2,051 | 2,051 | 2,009 | -2.0% |
| Net interest income | 383 | 286 | 196 | 278 | 278 | 312 | 12.2% |
| Underwriting commission | 132 | 78 | 54 | 192 | 192 | 101 | -47.4% |
| Transaction gains through F/V, net | 555 | (63) | 687 | 447 | 447 | 496 | 11.0% |
| Other operating income | 183 | 246 | 309 | 232 | 232 | 252 | 8.6% |
| Total operating expenses | (1,879) | (1,488) | (1,714) | (1,953) | (1,953) | (1,990) | 1.9% |
| Non-operating income | 83 | 74 | 114 | 117 | 117 | 149 | 27.4% |
| Income before tax | 1,712 | 515 | 1,145 | 1,364 | 1,364 | 1,329 | -2.6% |
| Income tax | (216) | (112) | (167) | (181) | (181) | (218) | 20.4% |
| Net income | 1,496 | 403 | 978 | 1,183 | 1,183 | 1,111 | -6.1% |
First Sec Key Ratios
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| ROAE (Annualized) | 19.79% | 5.22% | 12.26% | 13.11% | 13.11% | 11.53% | -12.1% |
| ROAA (Annualized) | 4.18% | 1.19% | 3.01% | 2.86% | 2.86% | 2.22% | -22.4% |
| Brokerage market share | 1.43% | 1.38% | 1.34% | 1.26% | 1.26% | 1.24% | -1.6% |
| Margin loan market share | 2.30% | 2.35% | 2.29% | 2.18% | 2.18% | 2.21% | 1.4% |
Footnote:
- Non-consolidated basis
第一金投信營運報告 (FSITC Income Statement Summary in NT$ million or %) (Page 36)
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Total operating income | 682 | 649 | 707 | 786 | 786 | 851 | 8.3% |
| Management fee | 656 | 629 | 692 | 756 | 756 | 825 | 9.1% |
| Sales service fee | 26 | 20 | 15 | 30 | 30 | 26 | -13.3% |
| Operating expenses | (564) | (552) | (571) | (609) | (609) | (637) | 4.6% |
| Non-operating income | 12 | (1) | 7 | 7 | 7 | 7 | 0.0% |
| Income before tax | 130 | 96 | 143 | 184 | 184 | 221 | 20.1% |
| Income tax | (24) | (20) | (28) | (36) | (36) | (44) | 22.2% |
| Net income | 105 | 76 | 115 | 148 | 148 | 177 | 19.6% |
FSITC Key Ratios
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| AUM | 112,979 | 100,051 | 125,552 | 141,287 | 141,287 | 192,357 | 36.1% |
| AUM Ranking | 13 | 15 | 14 | 14 | 14 | 13 |
Footnote:
- Non-consolidated basis
第一金人壽營運報告 (First Life Financial Results Summary in NT$ million or %) (Page 37)
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Operating Revenue | 14,401 | 16,689 | 13,400 | 15,514 | 15,514 | 17,439 | 12.4% |
| Premium Income | 12,429 | 14,911 | 11,304 | 12,610 | 12,610 | 14,375 | 14.0% |
| Other insurance income | 252 | 208 | 203 | 192 | 192 | 132 | -31.3% |
| Net Investment Income | 1,720 | 1,570 | 1,893 | 2,712 | 2,712 | 2,932 | 8.1% |
| Operating Cost | 13,047 | 15,761 | 12,101 | 14,016 | 14,016 | 15,470 | 10.4% |
| Reinsurance commission | 78 | 94 | 118 | 134 | 134 | 171 | 27.6% |
| Reserves | 9,312 | 8,980 | 2,845 | 2,640 | 2,640 | 4,086 | 54.8% |
| Claims | 2,769 | 5,740 | 7,967 | 8,754 | 8,754 | 8,765 | 0.1% |
| Commission | 888 | 945 | 1,170 | 2,487 | 2,487 | 2,447 | -1.6% |
| Others | 0 | 2 | 1 | 1 | 1 | 1 | 0.0% |
| Operating Expenses | (752) | (783) | (898) | (1,012) | (1,012) | (1,116) | 10.3% |
| Profit/Loss Before Tax | 601 | 145 | 401 | 486 | 486 | 853 | 75.5% |
| 30% FX Reserves | (259) | ||||||
| Income tax | (1) | (83) | 35 | 95 | 95 | 41 | -56.8% |
| Net Income after tax | 600 | 62 | 436 | 581 | 581 | 635 | 9.3% |
Key Ratios
| Item | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| ROAE(Annualized ratio) | 13.85% | 1.91% | 12.92% | 10.20% | 10.20% | 9.28% | -9.0% |
| ROAA(Annualized ratio) | 0.82% | 0.08% | 0.50% | 0.62% | 0.62% | 0.65% | 4.8% |