Hua Nan Financial : 2023 Annual Reprots

Hua Nan Financial Holdings Co., Ltd. is a leading financial services group based in Taiwan. The company's stock code on the market is 2880. The 2023 annual report for Hua Nan Financial Holdings was published on MarketScreener.com on June 3, 2024, with the link being .

According to the annual report, Hua Nan Financial Holdings reported strong financial results for the year ended December 31, 2023. The company's total assets reached NT$1.6 trillion (approximately USD54 billion), representing a year-on-year increase of 6.5%. Net income attributable to equity holders of the parent company was NT$44.9 billion (approximately USD1.5 billion), up by 14.5% compared to the previous year.

The report highlighted the bank's focus on expanding its retail banking business, which accounted for over 70% of the total operating income in 2023. The retail banking business saw a significant increase in loans and deposits, with loans growing by 7.4% and deposits growing by 6.5% compared to the previous year.

Hua Nan Financial Holdings also reported strong growth in its investment banking business, with revenue increasing by 17.5% year-on-year. The company's asset management business also saw strong growth, with total assets under management reaching NT$567 billion (approximately USD19 billion), up by 14.5% compared to the previous year.

The annual report also highlighted the bank's focus on digital transformation, with the launch of various digital banking services, including mobile banking, internet banking, and online loans. The report stated that the number of active digital banking users increased by over 50% compared to the previous year, with digital banking transactions accounting for over 50% of the total transactions in 2023.

Furthermore, the report highlighted the bank's commitment to sustainability and social responsibility, with the company setting a target to reduce its carbon emissions by 50% by 2030 compared to the 2019 level. The report also mentioned the bank's various initiatives to support small and medium-sized enterprises (SMEs) and promote financial inclusion in Taiwan.

In conclusion, Hua Nan Financial Holdings reported strong financial results for the year ended December 31, 2023, with significant growth in its retail banking, investment banking, and asset management businesses. The company's focus on digital transformation and sustainability, as well as its commitment to supporting SMEs and promoting financial inclusion, were also highlighted in the annual report.