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From the Chairman of the Board


Mega Holdings has made substantial progress after the severe penalties imposed on Mega Bank's New York Branch in 2016 and revenue has grown each year. The net profit after tax in 2018 totaled NT$28.093 billion with an EPS of NT$2.07. Mega Bank's net profit after tax was NT$24.172 billion and the EPS was NT$2.83. The results were the highest in the most recent three years. In terms of EPS, Mega Holdings ranked third in Taiwan while Mega Bank ranked first. Other subsidiaries including Mega Bills Finance and Chung Kuo Insurance also performed well.

The Company continued to implement anti-money laundering programs in 2018 to inject anti-money laundering DNA into corporate institutions and culture. Mega Bank Head Office currently strengthens legal compliance based on requirements for New York Branch and introduced Global Practice Standards (GPS) to create a consistent legal compliance culture for the entire bank. Mega Holdings and other subsidiaries also followed Mega Bank's lead and strengthened legal compliance tasks for anti-money laundering.

In addition to executing legal compliance improvement plans, we strive to improve in all business sectors. In 2018, Mega Bank maintained advantages in traditional businesses such as corporate finance and foreign exchange and achieved growth in both revenue and profitability. To provide lasting profitability for the Company, Mega Holdings began developing the second engine for profitability beyond corporate finance and foreign exchange and transformed the development of consumer finance and wealth management services.Consumer finance services focused on developing young customers and providing young employees with space for creativity. As an example, the "JJ Concert" marketing activity conducted for credit card services provided significant assistance for marketing Mega Bank credit cards. Other consumer finance and wealth management services also achieved growth.

Based on Principle of Responsible Investment (PRI) and Equator Principles (EP), Mega Bank makes decisions to invest and offers loans after ascertaining the financial and non-financial information of counterparties, and provides funds for energy conservation, carbon reduction, and environmental protection. By 2018, green loans totaled NT$84.2 billion and green investments NT$2.4 billion. In financial inclusion in 2018, we offered accident micro-insurance, small and medium business loans, and key start-up loans; we also developed a variety of digital financial services, such as digital deposits, mobile payments, mobile bank, and a mobile App to increase the coverage of digital financial services. In response to the needs of the aging society, we offer retirement trusts and reverse mortgage.

The Company continues to take measures for energy conservation and carbon emissions reduction, expand the scope of ISO 14064-1 greenhouse gas inventory to 90 locations in northern Taiwan, and obtain an assurance certificate from a third-party institution. In 2018, the Group's reduced its greenhouse gas emissions from direct energy usage by 5.54%, reduced total carbon emissions by 47 tons, and reduced emissions per capita by 4.06%. It demonstrated Mega Holdings' efforts to replace and maintain energy-saving equipment. Mega Bank Chi-Lin Building continued to pass ISO 14001 Environmental Management System verification in 2018. In addition, Mega Holdings participated in the CDP Climate Change Questionnaire for the first time and received a rating of "B" in Management Level. The Company shall introduce training for the identification of material risks and opportunities under the Task Force on Climate-related Financial Disclosures (TCFD) framework in 2019 to actively respond to climate change issues.

The Company provides a variety of job opportunities equally for people with disabilities and indigenous people. In response to the government's call for increased employment, we engaged additional 454 employees under a reorganization plan and in response to requirements for anti-money laundering legal compliance in 2018. Mega Holdings responded to the government's population policy that encourages people of marriageable age to get married and provided 135 people with subsidies for marriages and provided 150 people with childbirth subsidies in 2018. We value talent development and cultivation and invested more than NT$150 million in employee training in 2018. Each employee received approximately 47.83 hours of training. The average salary of full-time non-managerial employees was NT$1.44 million in 2018 while employee benefits for non-managerial employees amounted to approximately NT$1.64 million. Overall employee compensation was higher than most competitors.

In terms of social engagement, we continued to care for the development of disadvantaged groups and provide financial support to children from disadvantaged families. We also supported domestic agricultural and economic initiatives by purchasing onions, rice, and cabbages produced in Taiwan as gifts to customers to alleviate the issue of overproduction. We received the 2018 "Assistance for Agricultural Food Product Marketing Corporate Award" from the Agriculture and Food Agency, Council of Agriculture, Executive Yuan. To help schools in remote areas develop sports and art activities, Mega Bank has long sponsored selected baseball teams, archery teams, and weightlifting teams of remote elementary or junior high schools in Yilan, Hualien, and Tainan for training expenses. We organized the first Mega Bank Esports Tournament and attracted expert players in 32 highly capable teams from more than 20 colleges to increase Taiwan's visibility to the world. We invested a total of NT$195 million in participation in charity and welfare in 2018 to set an example for other businesses to participate in charitable activities and to create a diversity of values for society, making Taiwan a better place.

During the last year, Mega Holdings has achieved spectacular results in multiple businesses and actively strengthens anti-money laundering and legal compliance operations. In the future, we will further strengthen corporate governance, risk management, and anti-money laundering activities and strive for achieving the UN's Sustainable Development Goals (SDGs) with our business acumen and positive influence in the financial industry.