1. Taiwan Stocks

  2. •

    Finance

  3. •

    Regional banks
Chang Hwa Commercial Bank, Ltd.

Chang Hwa Commercial Bank, Ltd.

TTWSE:2801
29.90
TWD
+0.30
(+1.01%)
1.53EPS
12.90P/E
240.03BMarket Cap
Chang Hwa Commercial Bank, Ltd.
TWSE:2801
(Taiwan Stock Exchange)

Recent

price

29.90

P/E

ratio

12.90

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
1.81
1.91
2.42
1.97
3
3.51
3.78
3.67
3.91
3.65
2.27
2.38
2.84
3.21
3.48
3.75
3.89
Revenue per Share
0.65
0.75
0.7
0.73
0.9
0.97
1
1
1.05
0.96
0.58
0.73
0.91
1.08
1.24
1.47
1.54
Basic EPS, GAAP
0.28
1.32
1.97
-3.58
0.14
4.95
3.63
2.54
-0.4
-3.99
1.99
4.3
-3.23
-2.62
-3.72
-2.87
-4.65
Free Cash Flow per Basic Share
0.15
0.14
0.11
0.06
0.39
0.13
0.25
0.31
0.35
0.52
0.33
0.31
0.43
0.48
0.5
0.46
- -
Dividend per Share
7.18
8.07
8.7
9.32
9.89
10.74
11.4
12.02
12.98
13.45
13.69
14.22
14.02
15.59
16.7
18.27
18.74
Book Value per Share
7.17
8.06
8.69
9.31
9.85
10.69
11.37
11.98
12.92
13.39
13.63
14.17
13.92
15.51
16.62
18.18
18.66
Tangible Book Value per Share
12,060
12,060
12,060
12,060
12,060
12,060
12,060
12,060
12,060
12,060
12,060
12,060
12,060
12,060
12,060
12,060
12,222
Basic Weighted Avg Shares
21,875
22,981
29,233
23,784
36,223
42,272
45,574
44,283
47,204
44,064
27,326
28,698
34,261
38,760
41,951
45,244
47,583
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
915
800
739
668
715
702
718
719
716
1,437
1,403
1,420
1,571
1,650
1,619
1,748
1,771
Depreciation Expense
7,827
9,042
8,445
8,818
10,897
11,643
12,086
12,093
12,647
11,572
7,041
8,804
10,971
12,982
14,945
17,775
18,861
Net Income, GAAP
29.49
14.9
17.56
17.95
12.29
15.3
14.18
14.74
14.03
14.41
15.28
13.01
15.93
20.04
18.57
15.83
14.77
Effective Tax Rate (%)
35.78
39.35
28.89
37.08
30.08
27.54
26.52
27.31
26.79
26.26
25.77
30.68
32.02
33.49
35.63
39.29
39.64
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
76,877
39,739
39,505
43,323
48,784
36,006
33,786
44,780
53,264
60,437
64,020
53,625
53,607
52,019
43,868
44,929
46,923
LT Debt
86,584
97,323
104,896
112,403
119,241
129,475
137,524
144,948
156,562
162,237
165,054
171,452
169,028
187,998
201,397
220,327
225,977
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
4.95
6.02
6
5.88
6.73
6.98
7.18
6.7
6.33
5.35
3.12
3.88
4.9
5.61
6.16
6.96
7.2
Return on Capital (%)
9.34
9.83
8.35
8.12
9.41
9.36
9.05
8.56
8.39
7.26
4.3
5.23
6.44
7.27
7.68
8.43
8.73
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
12,060
12,060
12,060
Market Capitalization
231,203
240,616
240,027

Working Capital

TWD

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
180,082
177,818
206,076
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.52%
6.04%
9.4%
Free Cash Flow
50.33%
-11.85%
-22.64%
Net Income, GAAP
6.28%
20.41%
18.93%
Sales/Revenue/Turnover
2.05%
10.72%
7.85%
Total Cash Common Dividend
17.99%
8.26%
-6.18%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
10,369
10,446
11,376
9,760
41,951
2025
11,052
11,787
11,901
10,854
45,244
2026
13,041
- -
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.32
0.29
0.31
0.31
1.24
2025
0.34
0.39
0.42
0.3
1.47
2026
0.43
- -
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.5
2025
- -
- -
- -
- -
0.46
2026
- -
- -
- -
- -
- -
Similar Companies
ICICI Bank Limited (NSE:ICICIBANK)
State Bank of India (NSE:SBIN)
Nu Holdings Ltd. (NYSE:NU)
Sberbank (MOEX:SBER)
Akbank T.A.S. (BIST:AKBNK)
PT Bank Rakyat Indonesia (Persero) Tbk Class B (IDX:BBRI)
Business
Chang Hwa Commercial Bank, Ltd. (2801.TW) operates as a commercial bank providing a broad range of retail, corporate and institutional banking products and services in Taiwan and overseas; core offerings include checking, demand, time, omnibus and savings deposits; negotiable certificates of deposit; remittances; credit and debit cards; insurance products; syndicated, short-term, mid-term and long-term loans; foreign exchange; funds and wealth management services; trust services; international banking; investments in government, financial and corporate bonds; internet, telephone and mobile banking; margin lending; securities underwriting, financing and brokerage; as well as electronic banking, financial trusts investing in domestic and foreign securities. The bank maintains a domestic network of branches and sub-branches alongside overseas units offering deposits, loans, remittances, trade finance, letters of credit, guarantees and foreign exchange, with operations segmented into loans, deposits and remittances, financial instruments and investments, wealth management, subsidiaries and overseas branches. Founded in 1905 and headquartered in Taipei City, Taiwan, the institution serves private and corporate customers across Taiwan and select international markets. In August 2025, the Financial Supervisory Commission approves the bank to conduct financial products and services for high-asset customers following submission of plans for talent cultivation, product R&D, risk management, resource investments, responsibility mapping and enhanced board oversight; the bank reports record after-tax profits of NT$14.945 billion for 2024, up 15.12% year-over-year with earnings per share of NT$1.33, non-performing loan ratio at a 10-year low of 0.16% and coverage ratio at 797.47%, alongside plans for 2025 profit distribution of NT$0.5 per share in cash and stock dividends plus new share issuance via capitalization of earnings to bolster capital; total assets surpass NT$3.2 trillion amid Q1 2025 after-tax profit of NT$4.135 billion. The bank advances amendments to its Articles of Incorporation approved at the June 13, 2025 annual general meeting, increasing authorized capital to NT$150 billion, adopting a range of 11-15 directors with at least five independent and 3-5 managing directors, introducing an Accountability Committee and stipulating no less than 20% of employee compensation for non-executives.