E.SUN FHC held its investor conference today (13) to announce its business overview for the first three quarters of 2017. Cumulative profit after tax was NT$11.58 billion, earnings per share (EPS) was NT$1.18, ROE was 11.10%, and ROA was 0.78%. E.SUN FHC President Joseph Huang announced that the business had reached a new level in terms of size as both the financial holding company and the bank had passed the NT$2,000 billion line in assets and E.SUN FHC now held more than NT$100 billion in capital.
Joseph Huang said E.SUN had been an honest and upstanding company dedicated to integrity and professionalism for 25 years. It envisions becoming a top-performing and most respected bank that wins customer approval with its strength in expertise, service, and technology. In 2010, E.SUN FHC and E.SUN Bank each held more than NT$1,000 billion in assets, and all areas of business were reporting solid and well-rounded growth. Overall performance and profit continued to advance with profit-enabled organic growth. Assets then rose to NT$2,000 billion in seven short years, creating the largest asset growth among large domestic banks. Joseph Huang indicated that E.SUN would continue to develop close relationships in the local market while strengthening its Asian network of cross-border financial services. Furthermore, the company would continue to develop digital banking and other innovations in order to provide faster and more friendly services.
Fueled by cross-border service, E.SUN FHC's overall net profit in the first three quarters was NT$34.41 billion and 12.8% higher on a YOY basis. Net interest income and net service fee income also increased by 10.8% and 1.9%. Net profit after tax rose by 8.1% to NT$11.58 billion. Regarding various areas of business, the total deposit balance grew by 7.8% in the first three quarters, while the increase in foreign currency deposits was the highest among banks in the country at 25.4%. It reflected the success of E.SUN's overseas operations in driving cross-border service and the demand for foreign currency. Regarding loans, the total loan balance grew by 7.3% in the first three quarters, while SME loans showed a 9.7% growth. The increase in the balance remained at the top in the country. Loan growth was achieved while maintaining sound asset quality. The NPL ratio was 0.24% and still above the market average.
Regarding service fee income, E.SUN Bank ranks third among banks in total service fee income. Service fee income is on the decline for the market as a whole this year. Nevertheless, E.SUN is performing well in service fee income on credit cards and corporate banking services. In addition, summer campaigns launched to encourage spending on dual-currency cards or overseas are well received. Net service fee income rose by 15.0% in the first three quarters. Regarding wealth management service, stock markets around the world are making clients more willing to invest and fueling the momentum for wealth management service. Net service fee income in Q3 was 9.6% higher than that in Q2.
Regarding digital banking, E.SUN continues to invest in R&D. The company has received approval for 15 FinTech patents, including 3 invention patents. They make it easier to make payments while enhancing information security. In addition, E.SUN won recognition again by winning the Gartner Award for Most Innovative Digital Cost-Saving Initiative for its "Online Loan Application Platform". It was E.SUN's third consecutive year and sixth award at the annual Gartner awards. E.SUN is also the only Taiwanese company that has written a page in the history of Taiwan's financial innovation by taking home an award every year since the award was created.
E.SUN continues to receive international recognition for its overall performance. It was included in the DJSI World again this year and in the DJSI for four consecutive years. E.SUN has established itself as an international business in areas such as corporate governance and CSR. Moreover, the first vote for "Most Honored Companies" by Institutional Investor was held this year. E.SUN received recognition of professional institutions and institutional investors and won in the category of "Most Honored Company, developed market, mid-cap". In addition, E.SUN Bank President Joseph Huang was named Best CEO in Taiwan. Joseph Huang commented that E.SUN developed its strategies with precision and executed them to perfection. As a result, the company was able to deliver stable growth and consistent performance. For years in a row, it delivered excellent records in CSR, digital transformation, Asian operations, and asset quality. E.SUN views these records as honor and responsibility and will continue to create more value for customers and the community as a whole.