E.SUN FHC held its investor conference on August 22 to announce its business overview for the first half of 2017. Cumulative profit after tax was NT$7.52 billion, earnings per share (EPS) was NT$0.84, ROE was 10.91%, and ROA was 0.77%. After conducting the cash capital increase for May and ex-right for August, E.SUN FHC's paid-up capital has exceeded NT$100 billion to reach a total of NT$101.855 billion. E.SUN Commercial Bank's Tier 1 capital adequacy ratio also increased to 11.15%, resulting in a stronger overall capital that facilitates robust, long-term future developments.
Regarding revenue, the overall net profit of E.SUN FHC for the first half of 2017 was 13.1% higher on a YOY basis; net interest income and net service fee income also increased by 11.5% and 4.4%, respectively. The net increase in service fee income and total service fee income of E.SUN Bank were the second and third highest, respectively, among the banking sector in Taiwan. Precision marketing of credit cards was conducted using big data. The net service fee income for the first half of 2017 increased by 15.4% compared with that in the previous year. A rebound was observed in the growth of wealth management services, with the net service fee income for the second quarter increasing by 25.4% compared with that of the first quarter.
Regarding deposits, the total deposit balance for the first half of the year projected a growth of 5.9%, while the increase in foreign currency deposits was the highest in the banking sector nationwide. This increase in foreign currency deposits is greatly conducive to the development of our overseas business, cross-border platform in Asia, and cross-border customer service. Concerning loans, the total loan balance for the first half of the year increased by 5.3%, while an excellent asset quality has been maintained, with NPL ratio at 0.21% and NPL coverage ratio of 556.9%. E.SUN continues to cultivate and support small and medium enterprises (SMEs) in Taiwan. The increase in the balance of SME loans for the first half of the year was the highest among the banking sector in Taiwan, which contributes to our winning of the Excellent SME Credit Guarantee Partner Award for the 12th consecutive time, setting yet another record for Taiwan’s banking sector.
In the aspect of FinTech, E.SUN Wallet supports Android Pay, Apple Pay, and Samsung Pay. Use of the E.SUN Wallet is also now available at all three major convenience store locations in Taiwan, providing customers with the most diverse and most convenient payment options. The August issue of The Banker announced the winners of the global FinTech award. With its outstanding Merchant Multi-Payment Platform (MMPP), E.SUN Bank won The Banker Technology Projects of the Year Awards 2017, the only financial institution in Taiwan to be awarded in this category. This achievement is moreover a testament to the international recognition of Taiwan's efforts in the global FinTech domain.
Regarding CSR, E.SUN has responded to the recent surge in electricity consumption by having its branch offices nationwide shut off all electronic signage and display monitors during nighttime until the end of September. This effort is expected to save at least 100,000 kWh of electricity. E.SUN issued Taiwan's first batch of green bonds in May. Not only was the total issuance of NT$60 million the highest in Taiwan, one third of these bonds have moreover already been issued, and it is expected that all bonds will be disbursed by the end of this year. The funds collected will be invested in the development of renewable energy, greenhouse gas reduction, and conservation of water resources as we continue to actively engage in green financing and strive toward environmental sustainability.
The business performance of E.SUN Commercial Bank has again obtained excellent international acclaim, as reflected by the awards of Best Bank and Best CEO in the Asia Pacific region given respectively to E.SUN Commercial Bank and its President Joseph N. C. Huang by The Asian Banker. This also marks the first time that these awards were received a Taiwanese bank and Taiwanese CEO. The Asian Banker indicated that E.SUN has delivered outstanding performance in the past three years and exhibited the highest profit growth rate in Taiwan. Moreover, E.SUN has also performed exceptionally in the categories of asset intensity, digital strategic transformation, Asia expansion, and service fee income. This is an honor and a responsibility that E.SUN will continue to uphold so as to create greater value for its customers and for society.