E.Sun Financial Holding Co has reported a net fee income of NT$5.27 billion (US$189.1 million) for the first quarter of this year, the highest quarterly figure in its history, thanks to contributions from E.Sun Securities Co as more investors participated on the local stock market.

E.Sun Securities’ net fee income increased 52.5% year-on-year to NT$840 million in the first quarter, accounting for 16.3% of the holding company’s net fee income, E.Sun Financial said in a statement.

As of the end of last year, the securities unit’s fee income contributed 12.4% to its parent company’s total fee income.

The growth in fee income boosted E.Sun Securities’ net profit by 274% from a year earlier to NT$416 million in the first quarter.

E.Sun Financial’s banking unit, E.Sun Commercial Bank, reported that net fee income at its credit card business dropped 8% last quarter, but rose 3.8% at its wealth management operations. The two divisions contributed to two-thirds of E.Sun Financial’s total net fee income, company data showed.

E.Sun Commercial’s net profit fell 12% year-on-year to NT$4.41 billion last quarter, with its net interest margin sliding to 1.2%, down 14 basis points from a year earlier, while its non-performing loan ratio remained flat at 0.19%. The non-performing loan ratio for mortgages was 0.07%, down from 0.08% at the end of last year.

The bank’s loan balance rose 9% annually to NT$1.46 trillion, with mortgages expanding 19.7%, personal loans growing 12% and loans to small-and-medium enterprises rising 15%. However, loans denominated in foreign currencies declined 6.7%.

Taipei Times