Hong Kong Exchanges and Clearing Limited and The Stock Exchange... no responsibility for the contents of this announcement, make no...

Transcription

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take
no responsibility for the contents of this announcement, make no representation as to its accuracy
or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from
or in reliance upon the whole or any part of the contents of this announcement.
中國光大銀行股份有限公司
China Everbright Bank Company Limited
(A joint stock company incorporated in the People’s Republic of China with limited liability)
(Stock code: 6818)
THIRD QUARTERLY REPORT OF 2014
The Board of Directors (the “Board”) of China Everbright Bank Company Limited (the “Company”)
hereby announces the unaudited results of the Company and its subsidiaries for the third quarter
ended 30 September 2014 (the “Reporting Period”) prepared under the International Financial
Reporting Standards (the “IFRS “). This announcement is made in accordance with Part XIVA of
the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09 of
the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
On behalf of the Board
TANG Shuangning
Chairman
Beijing, the PRC, October 30, 2014
As at the date of this announcement, the executive Directors of the Company are Mr. Zhao
Huan and Mr. Wu Qing; the non-executive Directors are Mr. Tang Shuangning, Mr. Wu Jian,
Ms. Narentuya, Mr. Wu Gang, Ms. Wang Shumin, Mr. Wang Zhongxin and Mr. Wu Gaolian; and the
independent non-executive Directors are Mr. Zhou Daojiong(1), Mr. Zhang Xinze, Mr. Qiao Zhimin,
Mr. Xie Rong and Ms. Fok Oi Ling Catherine.
(1)
Since the resignation of Mr. ZHOU Daojiong would result in the number of independent
non-executive directors on the Board falling below the quorum provided by law, Mr. ZHOU
Daojiong will continue to perform his duties as the independent non-executive director, the
chairman of the Nomination Committee, a member of the Strategy Committee and a member
of the Remuneration Committee of the sixth session of the Board until the appointment
qualification of Mr. QIU Dong is approved by the CBRC.
-1-
Third Quarterly Report of 2014
(H Shares)
I.
Important Notice
1.1 The Board of Directors, Board of Supervisors and Directors, Supervisors and Senior
Management of the Company hereby warrant the authenticity, accuracy and completeness
of the contents of this report and there are no false representations, misleading statements
or material omissions, and jointly and severally accept full responsibility for the
information in this report.
1.2 The 25th Meeting of the Sixth Session of the Board of Directors of the Company
was convened on October 30, 2014, at which the Third Quarterly Report of 2014 was
considered and approved. There were 14 Directors eligible for voting while 13 of them
voted as at the date of the meeting. Mr. Zhou Daojiong, the Independent Director, did not
vote.
1.3 The financial statements in this report were prepared pursuant to the IFRS and are
unaudited.
1.4 In this report, “We/we”, “the Company” and “the Bank” refer to China Everbright Bank
Company Limited, and “the Group” refers to China Everbright Bank Company Limited
and its subsidiaries.
1.5 Mr. Tang Shuangning, Chairman of the Board of Directors of the Company, Mr. Zhao
Huan, President, and Mr. Xie Rong, Independent Non-executive Director hereby warrant
the authenticity, accuracy and completeness of the financial statements in this quarterly
report.
-2-
II. Key Financial Information and Changes in Shareholders
2.1 Key financial information
July to January to
September, September,
2014
2014
Item
Operation performance (RMB million)
Operating income
Profit before tax
Net profit attributable to equity
shareholders of the Bank
Per share (in RMB)
Basic earnings per share
Diluted earnings per share
Profitability indicators (%)
Annualized return on average total assets
Annualized return on weighted
average net assets
Item
Cash flow indicators (RMB million)
Net cash flows from operating activities
Net cash flows per share from operating
activities (in RMB)
-3-
Changes in July
to September
2014 over the
same period of
the previous
year (%)
20,503
9,906
58,063
30,677
36.34
21.77
7,477
23,322
10.82
0.16
0.16
0.50
0.50
–5.88
–5.88
1.14
1.24
17.71
18.88
+0.05 percentage
point
–3.13 percentage
points
January to
September, 2014
Changes over
January to
September of the
previous year (%)
74,024
384.61
1.59
318.42
Item
As at
September 30,
2014
Scale indicators (RMB million)
Total assets
Balance of loans and advances
– Performing loans
– Non-performing loans
Provision for impairment
losses on loans
Total liabilities
Deposits balance
– Corporate demand deposits
– Corporate time deposits
– Retail demand deposits
– Retail time deposits
– Other deposits
Net assets attributable to equity
shareholders of the Bank
Net assets per share attributable
to equity shareholders
of the Bank (in RMB)
Asset quality indicators (%)
Non-performing loan ratio
Provision coverage ratio
2,581,418
1,272,144
1,258,553
13,591
2,415,086
1,166,310
1,156,281
10,029
6.89
9.07
8.84
35.52
26,774
2,408,282
1,728,279
441,159
868,336
107,483
227,903
83,398
24,172
2,262,034
1,605,278
434,902
768,315
104,140
206,506
91,415
10.76
6.47
7.66
1.44
13.02
3.21
10.36
–8.77
172,852
152,839
13.09
3.70
3.30
12.12
1.07
0.86
197.00
-4-
Changes over
As at
the end of the
December 31,
2013 previous year(%)
+0.21
percentage point
241.02
–44.02
percentage points
2.2 Capital Adequacy Indicators
Capital adequacy indicators as at the end of the Reporting Period calculated in
accordance with the Capital Rules for Commercial Banks (Provisional), released by
China Banking Regulatory Commission (the “CBRC”) on June 7, 2012, are as follows:
Unit: RMB million, %
Consolidated
Non-consolidated
Item
Net core tier-1 capital
Net tier-1 capital
Net capital
Risk weighted assets
Core tier-1 capital adequacy ratio
Tier-1 capital adequacy ratio
Capital adequacy ratio
171,153
171,162
207,640
1,808,943
9.46
9.46
11.48
168,929
168,929
204,992
1,789,448
9.44
9.44
11.46
The consolidated and non-consolidated capital adequacy ratios as at the end of the
Reporting Period calculated in accordance with the Rules on Capital Adequacy of
Commercial Banks, promulgated by the CBRC on December 28, 2006, were 12.42% and
12.41%, respectively.
2.3 Differences of financial statements prepared pursuant to the PRC GAAP and the
IFRS
There was no difference between the net profit for January to September, 2014 and the
shareholders’ equity as at September 30, 2014 as presented in the consolidated financial
statements of the Group prepared pursuant to the PRC Accounting Standards and
Accounting Regulations for Business Enterprises (“PRC GAAP”) and the IFRS.
-5-
2.4 Analysis of operating results
As at the end of the Reporting Period, total assets of the Group were RMB2,581.418
billion, an increase of 6.89% as compared with the end of the previous year, while
its total liabilities were RMB2,408.282 billion, up by 6.47% as compared with the
end of the previous year. Deposits balance was RMB1,728.279 billion, an increase of
7.66% as compared with the end of the previous year. Total loans and advances were
RMB1,272.144 billion, up by 9.07% as compared with the end of the previous year.
From the beginning of the year to the end of the Reporting Period, the Group attained
a net profit of RMB23.363 billion, up by 7.66% year on year. Operating income of
the Group increased to RMB58.063 billion, up by 18.80% year on year. Its net interest
income reached RMB43.469 billion, up by 12.80% year on year and representing 74.87%
of the total operating income, while its net fee and commission income was RMB13.443
billion, up by 21.04% year on year and representing 23.15% of the total operating
income.
From the beginning of the year to the end of the Reporting Period, operating expenses of
the Group was RMB21.426 billion, an increase of 18.86% year on year. Expenditure on
asset impairment loss was RMB5.960 billion, an increase of 81.32% year on year.
As at the end of the Reporting Period, non-performing loans of the Group totaled
RMB13.591 billion, an increase of RMB3.562 billion as compared with the end of
the previous year. Non-performing loan ratio was 1.07%, up by 0.21 percentage point
compared with the end of the previous year. Provision coverage ratio was 197.00%, a
decrease of 44.02 percentage points as compared with the end of the previous year.
As at the end of the Reporting Period, capital adequacy ratio of the Group calculated in
accordance with the Capital Rules for Commercial Banks (Provisional), promulgated by
the CBRC, was 11.48%, an increase of 0.91 percentage point as compared with the end
of the previous year. Core tier-one capital adequacy ratio and tier-one capital adequacy
ratio were 9.46%, up by 0.35 percentage point as compared with the end of the previous
year.
-6-
2.5 Total number of shareholders, shareholdings of top 10 shareholders and top 10
shareholders not subject to selling restrictions as at the end of the Reporting Period
Unit: Share, %
Total number of shareholders as at the end of
the Reporting Period (shareholders)
Particulars of shareholdings of top 10 shareholders
Nature of
shareholder
State
/
A shares: 195,544; H shares: 1,280
Number
of shares
19,250,916,094
6,861,046,500
Change
Number of
in the
shares subject
Reporting
Shareholding
to selling Shares pledged
Period Type of shares percentage (%)
restrictions
or frozen
–
A shares
41.24
–
–
208,000
H shares
14.70
–
Unknown
Name of shareholder
Central Huijin Investment Limited
Hong Kong Securities Clearing
Company Nominees Limited, of
which 1
Ocean Fortune Investment Limited Overseas legal person
1,584,273,000
11,214,000
H shares
3.39
–
–
China Life Reinsurance Company Domestic legal person
1,041,260,000
–
H shares
2.23
–
–
Limited
China Everbright (Group) Corporation Domestic legal person
2,057,280,034
–
A shares
4.41
–
–
China Everbright Limited
Overseas legal person
1,572,735,868
–
A shares
3.37
–
–
China Reinsurance (Group)
Domestic legal person
954,836,367
–
A shares
2.05
–
–
Corporation
Shenergy (Group) Co., Ltd.
766,002,403
–
A shares
1.64
–
–
Hongta Tobacco (Group) Co., Ltd. Domestic legal person
538,417,850
–
A shares
1.15
–
–
Sino Life Insurance Co., Ltd.Domestic legal person
518,081,855 343,164,450
A shares
1.11
–
–
Dividend
Shanghai Chengtou Holding Co., Ltd. Domestic legal person
352,485,083
–
A shares
0.76
–
–
Guangzhou Maritime Transport
335,516,286 335,516,286
A shares
0.72
–
–
(Group) Co., Ltd.
The connecting relationship or concerted actions among the above shareholders: China Reinsurance (Group) Corporation is a subsidiary of Central Huijin Investment Limited;
China Life Reinsurance Company Limited is a subsidiary of China Reinsurance (Group) Corporation; China Everbright Limited is a subsidiary of China Everbright Holdings
Company Limited. China Everbright (Group) Corporation, China Everbright Holdings Company Limited and China Everbright Limited have the same Chairman, and some
members of their Senior Management are overlapping. Guangzhou Maritime Transport (Group) Co., Ltd. and Ocean Fortune Investment Limited are subsidiaries of China
Shipping (Group) Company. Save for these, the Bank is not aware of any connecting relationship or concerted action among the above shareholders.
Particulars of shareholdings of the top 10 shareholders not subject to selling restrictions are same with that of the top 10 shareholders.
Note:The total number of H shares of the Bank held by the Hong Kong Securities Clearing
Company Nominees Limited acting as the nominee for all institutional and individual
investors that maintain an account with it as at the end of the Reporting Period was
6,861,046,500 shares. Besides 1,584,273,000 and 1,041,260,000 H shares of the Bank
held by Ocean Fortune Investment Limited and China Life Reinsurance Company Limited
respectively so far as the Company is aware, all of which were held under the name of
Hong Kong Securities Clearing Company Nominees Limited, the remaining 4,235,513,500
H shares of the Bank were held under the name of Hong Kong Securities Clearing
Company Nominees Limited.
-7-
III. Significant Events
3.1Material change in major financial statements items, financial indicators and the
reasons thereof
3 Applicable  Inapplicable
Unit: RMB million, %
Item
Positive fair value
of derivatives
September
30, 2014
December
31, 2013 Change (%) Main reasons for change
1,032
1,870
(44.81) With market interest rates
trending down, gains from
interest-related derivatives
decreased on revaluation
33,981
73,753
(53.93) Decrease in exposure of
on-balance sheet wealth
management investments
Negative fair value
of derivatives
1,120
2,465
(54.56) Affected by changes in
Renminbi exchange rate,
losses from some forward
foreign exchange swaps
decreased on revaluation
Financial assets sold
under repurchase
agreements
19,445
63,164
(69.22) D e c r e a s e i n s c a l e o f
financial assets sold under
repurchase agreements
based on treasury position
3,475
2,605
33.40 Substantial increase in
provision for impairment
and increase in income tax
payable
Interests payable
28,463
20,949
35.87 Increase in scale of deposits
and interest rate
Debts securities
issued
64,884
42,247
53.58 Issuance of tier-2 capital
bonds and inter-bank
negotiable certificate of
deposits (NCDs)
Other liabilities
15,441
27,756
(44.37) D u e t o t h e s t r i c t
management of duration
mismatch, the scale of other
liabilities and other assets
decreased synchronously
Retained earnings
54,088
38,795
39.42 Increase in profit for the
period
Other assets
Taxes payable
-8-
Item
January to January to
September, September,
2013
2014
Fee and commission
expense
948
Net trading
gains/(losses)
914
532
(1,358)
Change
(%) Main reasons for change
78.20 Increase in bank card
transaction fees
the forward valuation of
some foreign exchange
swaps increased, bond
prices also increased and
the valuation of debt
securities held for trading
increased significantly
(104)
94
(210.64) Adjustments to the bond
investment portfolio by
disposing of the low
yield bonds previously
purchased whenever
possible
95
292
the spot settlement losses
of some foreign exchange
swaps increased, and
there was a negative
correlation with net gains
from changes in fair
value
Impairment losses
on assets
5,960
3,287
81.32 Increase in impairment
loss on loans accrued
Change in fair value
recognised in
capital reserve
3,764
(1,876)
Reclassified to profit
or loss upon
disposal
889
Net (losses)/gains
arising from
investment
securities
Net foreign exchange
gains
46
-9-
(300.64) Declining market interest
rate resulted in increase
in fair value of availablefor-sale financial assets
1,832.61 I n c r e a s e i n d i s p o s a l
of available-for-sale
financial assets in the
period
3.2 Progress and impact of significant events and analysis and explanation of solutions
On August 29, 2014, the Bank’s application for making additional capital contribution
to Everbright Financial Leasing Co., Ltd. (hereinafter known as “Everbright Leasing”)
was approved by CBRC. On September 16, 2014, the Bank made additional capital
contribution of RMB1.98 billion to Everbright Leasing and its total investment amount
in Everbright Leasing reached RMB3.33 billion. As at the date of this report, Everbright
Leasing had completed the additional capital contribution scheme and the relevant change
of business registration was in progress.
3.3 Fulfillment of undertakings by the Bank or shareholders holding 5% or more of the
shares
During the Reporting Period, there were no new undertakings by the Company or
shareholders holding 5% or more of the shares. For the period ended September 30,
2014, all continuous undertakings made by the Company and shareholders holding 5% or
more of the shares were fulfilled. Please refer to the 2014 interim report of the Company
for the relevant undertakings.
3.4 Implementation of cash dividend policy during the Reporting Period
 Applicable 3 Inapplicable
3.5 Warnings and explanations of any forecasted loss or significant changes in
accumulated net profit for the period from the beginning of the year to the end of
the next Reporting Period compared to the same period of last year
 Applicable 3 Inapplicable
IV. Publication of Quarterly Report
The quarterly reports prepared in accordance with the PRC GAAP and the IFRS are available
on the websites of SSE (www.sse.com.cn), HKSE (www.hkex.com.hk) and the Bank
(www.cebbank.com).
V.Appendices
The consolidated statement of profit or loss and other comprehensive income, the consolidated
statement of financial position, the statement of financial position, and the consolidated cash
flow statement prepared under IFRS are attached below.
- 10 -
Financial Statements
For the Nine Months Ended 30 September 2014
(prepared in accordance with International Financial Reporting Standards)
- 11 -
Consolidated statement of profit or loss and other
comprehensive income
for the period ended 30 September 2014
(Expressed in millions of Renminbi, unless otherwise stated)
Nine Months ended 30 September
2014
2013
Interest income
Interest expense
100,103
(56,634)
Net interest income
43,469
--------------------------------
Fee and commission income
Fee and commission expense
14,391
(948)
Net fee and commission income
13,443
--------------------------------
914
3
Net trading gains/(losses)
Dividend income
Net (losses)/gains arising from
investment securities
Net foreign exchange gains
Other operating income
(104)
95
243
Operating income
Operating expenses
89,015
(50,477)
38,538
------------------------------
11,638
(532)
11,106
------------------------------
(1,358)
3
94
292
201
58,063
(21,426)
48,876
(18,026)
Operating profit before impairment
Impairment losses on assets
36,637
(5,960)
30,850
(3,287)
Profit before tax
30,677
27,563
Income tax
(7,314)
(5,863)
Net profit
23,363
21,700
- 12 -
comprehensive income (continued)
Nine Months ended 30 September
2014
2013
Net profit (continued)
23,363
Other comprehensive income for period:
Items that may be reclassified subsequently
to profit or loss:
Available-for-sale financial assets:
- Change in fair value recognised
in the Capital Reserve
- Reclassified to the profit or loss
upon disposal
- Related income tax effect
Other comprehensive income net of tax
3,764
889
(1,163)
3,490
21,700
(1,876)
46
469
(1,361)
--------------------------------
--------------------------------
Total comprehensive income
26,853
20,339
Net profit attributable to:
Equity shareholders of the Bank
Non-controlling interests
23,322
41
21,664
36
23,363
21,700
26,812
41
20,303
36
26,853
20,339
0.50
0.54
attributable to:
Basic and diluted earnings per share
(in RMB)
- 13 -
comprehensive income
for the period from 1 July to 30 September 2014
Three Months
from 1 July to 30 September
2014
2013
Interest income
Interest expense
33,961
(18,330)
Net interest income
15,631
--------------------------------
Fee and commission income
Fee and commission expense
5,133
(322)
Net fee and commission income
4,811
--------------------------------
30,647
(18,163)
12,484
------------------------------
3,972
(215)
3,757
------------------------------
(313)
3
(1,406)
3
(5)
328
48
(27)
152
75
Operating income
Operating expenses
20,503
(7,765)
15,038
(5,866)
Operating profit before impairment
12,738
(2,832)
9,172
(1,037)
9,906
8,135
Income tax
(2,415)
(1,374)
Net profit
7,491
6,761
Net trading gains
Dividend income
Net (losses)/gains arising from
Net foreign exchange gains
Other operating income
Profit before tax
- 14 -
comprehensive income (continued)
for the period from 1 July to 30 September 2014
Three Months
from 1 July to 30 September
2014
2013
Net profit (continued)
7,491
Other comprehensive income for period:
Items that may be reclassified subsequently
to profit or loss:
Available-for-sale financial assets:
- Change in fair value recognised
in the Capital Reserve
- Reclassified to the profit or loss
upon disposal
- Related income tax effect
Other comprehensive income net of tax
141
410
(137)
414
6,761
(1,956)
(14)
489
(1,481)
--------------------------------
--------------------------------
7,905
5,280
Net profit attributable to:
7,477
14
6,747
14
7,491
6,761
7,891
14
5,266
14
7,905
5,280
attributable to:
- 15 -
Consolidated statement of financial position
As at 30 September 2014
30 September
2014
31 December
2013
350,266
312,643
54,291
67,153
149,149
124,291
Assets
Cash and deposits with the
central bank
Deposits with banks and other
financial institutions
Placements with banks and other
Financial assets at fair value
through profit or loss
Positive fair value of derivatives
Financial assets held under
resale agreements
Interests receivable
Loans and advances to customers
Available-for-sale financial assets
Held-to-maturity investments
Debt securities classified as receivables
Fixed assets
Goodwill
Deferred tax assets
Other assets
10,381
1,032
12,490
1,870
138,062
15,938
1,245,370
129,101
109,602
326,884
12,830
1,281
3,250
33,981
169,182
13,074
1,142,138
111,948
105,920
262,699
12,629
1,281
4,015
73,753
Total assets
2,581,418
2,415,086
- 16 -
Consolidated statement of financial position (continued)
30 September
2014
31 December
2013
494,235
438,604
43,680
1,120
50,817
2,465
19,445
1,728,279
9,260
3,475
28,463
64,884
15,441
63,164
1,605,278
8,149
2,605
20,949
42,247
27,756
Liabilities and equity
Liabilities
Deposits from banks and other
Placements from banks and other
Negative fair value of derivatives
Financial assets sold under
Deposits from customers
Accrued staff costs
Taxes payable
Interests payable
Debts securities issued
Other liabilities
Total liabilities
2,408,282
--------------------------------
- 17 -
2,262,034
--------------------------------
Consolidated statement of financial position (continued)
Equity
Share capital
Capital reserve
Surplus reserve
General reserve
Retained earnings
Total equity attributable to
equity shareholders of the Bank
Total equity
30 September
2014
31 December
2013
46,679
33,025
9,199
29,861
54,088
46,277
28,707
9,199
29,861
38,795
172,852
284
152,839
213
173,136
Total liabilities and equity
153,052
--------------------------------
--------------------------------
2,581,418
2,415,086
Approved and authorised for issue by the board of directors on 30 October 2014.
Tang Shuangning
Chairman of the Board of Directors,
Non-executive Director
Zhao Huan
President,
Executive Director
- 18 -
Xie Rong
Independent Non-executive Director
Statement of financial position
30 September
2014
31 December
2013
350,120
312,494
51,942
66,746
149,554
124,773
Assets
Cash and deposits with the
central bank
Deposits with banks and other
Placements with banks and other
Financial assets at fair value
Positive fair value of derivatives
Financial assets held under
resale agreements
Interests receivable
Loans and advances to customers
Available-for-sale financial assets
Held-to-maturity investments
Debt securities classified as receivables
Investments in subsidiaries
Fixed assets
Goodwill
Deferred tax assets
Other assets
10,381
1,032
12,490
1,870
138,062
15,779
1,244,645
129,101
109,602
326,884
895
12,814
1,281
3,190
16,225
169,182
12,955
1,141,622
111,948
105,920
262,699
825
12,615
1,281
3,955
57,443
Total assets
2,561,507
2,398,818
- 19 -
Statement of financial position (continued)
30 September
2014
31 December
2013
496,209
442,034
27,396
1,120
35,867
2,465
19,432
1,727,295
9,231
3,420
28,314
64,884
12,450
63,151
1,604,365
8,105
2,578
20,779
42,247
25,137
Liabilities and equity
Liabilities
Deposits from banks and other
Placements from banks and other
Negative fair value of derivatives
Financial assets sold under
Deposits from customers
Accrued staff costs
Taxes payable
Interests payable
Debts securities issued
Other liabilities
Total liabilities
2,389,751
--------------------------------
- 20 -
2,246,728
--------------------------------
Statement of financial position (continued)
Equity
Share capital
Capital reserve
Surplus reserve
General reserve
Retained earnings
Total equity
30 September
2014
31 December
2013
46,679
33,025
9,199
29,861
52,992
46,277
28,707
9,199
29,861
38,046
171,756
Total liabilities and equity
152,090
--------------------------------
--------------------------------
2,561,507
2,398,818
Approved and authorised for issue by the board of directors on 30 October 2014.
Tang Shuangning
Chairman of the Board of Directors,
Non-executive Director
Zhao Huan
President,
Executive Director
- 21 -
Xie Rong
Independent Non-executive Director
Consolidated cash flow statement
Nine months ended 30 September
2014
2013
Cash flows from operating activities
Net profit
Adjustments for:
Depreciation and amortisation
Unwinding of discount
Dividend income
Unrealised foreign exchange (gains)/ losses
Net losses / (gains) on disposal of
Net (gains) / losses on disposal of
trading securities
Revaluation (gains) / losses on financial
instruments at fair value
Interest expense on debt securities issued
Net losses on disposal of fixed assets
Income tax
23,363
5,960
1,419
(400)
(3)
(249)
(94)
(22)
228
(892)
1,652
4
7,314
1,130
1,637
3
5,863
38,250
34,721
--------------------------------
(11,385)
(50,835)
(29,592)
(109,288)
(22,537)
(121,735)
31,385
37,227
(81,653)
--------------------------------
- 22 -
3,287
1,202
(266)
(3)
34
104
--------------------------------
Changes in operating assets
Net increase in deposits with
the central bank, banks
and other financial institutions
Net increase in placements with banks
and other financial institutions
Net increase in loans and advances to customers
Net decrease in financial assets held under
resale agreements
Net (increase)/decrease in other operating assets
21,700
6,352
(9,007)
(197,762)
--------------------------------
Consolidated cash flow statement (continued)
Cash flows from operating activities (continued)
Changes in operating liabilities
Net increase / (decrease) in deposits from
banks and other financial institutions
Net (decrease)/increase in placements from
banks and other financial institutions
Net decrease in financial assets
sold under repurchase agreements
Net increase in deposits from customers
Income tax paid
Net decrease in other operating liabilities
2014
2013
55,631
(15,295)
(7,137)
28,949
(43,741)
123,001
(6,883)
(3,444)
117,427
--------------------------------
Net cash flows from operating activities
74,024
(20,439)
195,166
(7,005)
(3,060)
178,316
--------------------------------
15,275
--------------------------------
--------------------------------
152,911
3
205,678
3
47
(230,738)
113
(248,950)
(1,719)
(1,469)
Cash flows from investing activities
Proceeds from disposal and
redemption of investments
Received dividend income
Proceeds from disposal of
fixed assets and other assets
Payments on acquisition of investments
Payments on acquisition of fixed assets,
intangible assets and other assets
Net cash flows used in investing activities
- 23 -
(79,496)
--------------------------------
(44,625)
--------------------------------
Consolidated cash flow statement (continued)
2014
2013
Cash flows from financing activities
Net proceeds from issue of H shares
Capital contribution by non-controlling
interests
Proceeds from issue of new debt securities
Cash paid on subordinated debts redeemed
Interest paid on debts securities issued
Dividends paid
1,230
30
25,637
(3,000)
(1,836)
(8,028)
Net cash flows from/(used in) financing activities
14,033
--------------------------------
Effect of foreign exchange rate
changes on cash and cash equivalents
Net increase /(decrease) in cash and cash
equivalents
79
--------------------------------
8,640
30
481
(8,000)
(2,211)
(2,348)
(12,048)
--------------------------------
(189)
--------------------------------
(41,587)
Cash and cash equivalents as at 1 January
116,821
137,913
Cash and cash equivalents
as at 30 September
125,461
96,326
96,764
86,286
(47,262)
(45,950)
Interest received
Interest paid (excluding interest expense on
debts securities issued)
- 24 -

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