FEIB held 2023 General Shareholders’ Meeting

　FEIB held its 2023 General Shareholders’ Meeting on June, 16, 2023.  FEIB reported business performance of 2022, as well as key strategies of 2023, which aims for digitalization, FEG synergy and profitability improvement to drive for steady growth and corporate sustainability. FEIB’s assets grew 2.4% year on year to NTD740 billion on YE2022.  Net interest income increased 9% contributed by higher interest margin and steady lending asset growth.  Thanks to the controlled expense structure and reduced loan provision cost, net income was NTD3.68 billion, or 25% year on year growth.  EPS improved up to NTD1 / share on YE2022. The Shareholders' Meeting approved cash dividend of NTD0.4089 per share for 2022 earnings distribution. The dividend yield was around 3.6%. Also, shareholders elected Dr. Chang Chia-Juch as the new independent director.

　FEIB completed new capital injection in 4Q’22 for NTD4.8 billion.  The Bank’s BIS% and CET1 % were 14.9% and 11.63%, respectively on YE’2022, which were significantly improved from those on YE2021 and ranked FEIB above industry average.  FEIB remained its rating at BBB or A+(tw) by Fitch Ratings, as an investment-grade financial institution supported by its stable to improving financial structure.

　FEIB reported NTD849 million net income in 1Q’23, or 28.5% year on year growth from that of 1Q’22 as FEIB’s business momentum remained resilience in post COVID-19 era.

　FEIB continued striving for niche and core businesses in 2022. “Bankee”, the digital account, increased 40% and its deposit balance exceeded NTD10 billion by YE2022.  Wealth management, praised by "Ten Happiness" value and in progress of integrating with consumer lending, transformed into customer-centric investment relationship center at a few leading branches.  The debut of Retiree Trust to senior citizens ranked FEIB top of Financial Supervisory Commission’sTrust 2.0 Group B Table.  Collectively, FEIB’s Retail Banking and Digital Banking gained 14 professional awards in Taiwan and abroad. The Corporate Banking’s overseas lending resumed momentum post COVID-19. The amount of international syndication loans where FEIB participated as the lead bank increased 36% in 2022. In all, offshore assets accounted for 15% of the Bank’s total assets, and contributed more than 45% of the Bank’s income before tax in 2022.

　In TWSE’s 9th annual corporate governance review, FEIB ranked, again, top 5% of 900+ listed companies, as a nation-wise top company achieving corporate sustainability.  FEIB signed Equator Principles, prepared TCFD, included green bonds and green loans, and launched ESG mutual funds as actions in sponsoring environmental protection.  FEIB gained Taiwan Corporate Sustainability Award’s “Leader of Talent Development Award”, HR Asia’s “Best Company to Work for in Asia” award, ranked top 25% of banks by FSC’s “Fair Treatment to Customers” review, and sponsored Eden Foundation for over 20+ years, all of which were FEIB’s actions in fulfilling social responsibilities.

　The 2023 global economy is still threatened by high inflation and geopolitical risk, but the silver lining is post-pandemic recovery in consumer market.  With interest spreads remaining high, FEIB targets niche businesses and high-margin businesses to boost profitability. The former includes international syndicated loans, credit derivatives, and strategic B2B consumer loans. The latter includes overseas lending, revolving mortgages, and high-net-worth wealth management.  Bankee plans to revamp APP 2.0, and launch on-line personal loans and micro-business loans.  In summary, FEIB aims to achieve 6-7% growth in total assets, loans and deposits in 2023.  The sub-brand digital banking looks to continue growth momentum through an integrated digital banking platform for service, channels, and data processing.

　FEIB celebrated 30th anniversary in 2022 with expanded onshore and offshore markets, diversifying corprpoate and retail earnings stream, and developing digital banking platform.  Looking ahead, FEIB will accelerate digital banking development, improve earnings structure, and emphasize sustainable financing. FEIB is positioned as a mid-sized bank integrating with abundant Far Eastern Group’s synergy to deliver LT sustainable profit and value to investors, customers, employees, and society.

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