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Unaudited Condensed Interim Financial Statements 30 June 2020

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Unaudited Condensed Interim Financial Statements 30 June 2020 HSBC BANK MALAYSIA BERHAD (Company No. 198401015221 (127776-V)) (Incorporated in Malaysia) UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS 30 JUNE 2020 Domiciled in Malaysia Registered Office: 10th Floor, North Tower 2, Leboh Ampang 50100 Kuala Lumpur HSBC BANK MALAYSIA BERHAD (Company No. 198401015221 (127776-V)) (Incorporated in Malaysia) UNAUDITED CONDENSED STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 2020 Group Bank 30 Jun 2020 31 Dec 2019 30 Jun 2020 31 Dec 2019 Note RM'000 RM'000 RM'000 RM'000 Assets Cash and short-term funds 12 10,387,583 9,623,962 7,904,633 4,847,237 Securities purchased under resale agreements 4,166,955 6,645,298 4,166,955 6,645,298 Deposits and placements with banks and other financial institutions 13 481,763 139,153 1,408,509 1,011,570 Financial assets at fair value through profit and loss (FVTPL) 14 2,372,538 1,391,978 2,372,538 1,391,978 Financial investments at fair value through other comprehensive income (FVOCI) 15 11,123,493 11,907,954 9,026,991 9,187,979 Loans, advances and financing 16 54,189,540 51,289,860 39,868,363 38,246,907 Derivative financial assets 37 1,664,783 1,440,197 1,664,940 1,440,057 Other assets 19 974,215 432,253 919,702 424,659 Statutory deposits with Bank Negara Malaysia 20 190,208 992,351 155,646 662,689 Investments in subsidiary companies - - 660,021 660,021 Property and equipment 950,955 834,156 944,234 827,055 Intangible assets 35,769 38,854 35,769 38,854 Tax recoverable 165,001 89,458 160,415 89,458 Deferred tax assets 78,417 125,695 58,567 101,787 Total assets 86,781,220 84,951,169 69,347,283 65,575,549 Liabilities Deposits from customers 21 62,900,707 59,407,190 49,220,550 46,086,878 Deposits and placements from banks and other financial institutions 22 2,759,767 3,683,684 1,968,032 1,770,927 Bills payable 114,624 176,652 99,677 154,616 Derivative financial liabilities 37 1,594,688 1,282,269 1,659,898 1,328,082 Structured liabilities designated at fair value through profit and loss 23 4,471,022 4,860,845 3,300,539 3,565,487 Other liabilities 24 2,454,570 2,478,076 2,428,654 2,195,727 Provision for taxation - 12,007 - - Multi-Currency Sukuk Programme 25 521,337 1,265,929 - - Subordinated liabilities 26 1,116,948 1,089,612 1,116,948 1,089,612 Total liabilities 75,933,663 74,256,264 59,794,298 56,191,329 Equity Share capital 1,045,875 1,045,875 1,045,875 1,045,875 Other equity and reserves 9,801,682 9,649,030 8,507,110 8,338,345 Total equity attributable to owner of the Bank 10,847,557 10,694,905 9,552,985 9,384,220 Total liabilities and equity 86,781,220 84,951,169 69,347,283 65,575,549 Commitments and contingencies 36 180,601,000 198,344,398 172,605,265 193,751,469 The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements of the Group and the Bank for the financial year ended 31 December 2019 and the accompanying explanatory notes on pages 13 to 49 attached to the unaudited condensed interim financial statements. The unaudited condensed interim financial statements were approved by the Board of Directors on 24 July 2020. 1 HSBC BANK MALAYSIA BERHAD (Company No. 198401015221 (127776-V)) (Incorporated in Malaysia) UNAUDITED CONDENSED STATEMENT OF PROFIT OR LOSS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2020 Group Second Quarter Six Months Ended 30 Jun 2020 30 Jun 2019 30 Jun 2020 30 Jun 2019 Note RM'000 RM'000 RM'000 RM'000 Interest income 27 492,733 596,317 1,055,043 1,203,014 Interest expense 27 (153,636) (207,064) (329,729) (409,943) Net interest income 27 339,097 389,253 725,314 793,071 Fee and commission income 28 86,368 106,374 198,040 220,833 Fee and commission expense 28 (5,485) (21,965) (30,391) (31,144) Net fee and commission income 28 80,883 84,409 167,649 189,689 Net trading income 29 199,373 167,016 323,700 367,257 Income from Islamic banking operations 30 92,639 145,366 307,785 261,677 Net expenses from Financial Liabilities Designated at Fair Value (18,165) (34,192) (51,723) (67,439) Other operating income 31 28,612 21,871 43,816 28,956 Operating income before impairment losses 722,439 773,723 1,516,541 1,573,211 Impairment allowance/provisions 32 (195,488) (42,387) (337,038) (70,206) Net operating income 526,951 731,336 1,179,503 1,503,005 Other operating expenses 33 (403,601) (421,902) (817,553) (797,746) Profit before tax 123,350 309,434 361,950 705,259 Tax expense (32,550) (74,243) (91,187) (170,673) Profit for the period 90,800 235,191 270,763 534,586 Basic earnings per RM0.50 ordinary share 39.7 sen 102.7 sen 118.2 sen 233.4 sen Dividends per RM0.50 ordinary share (net) - final dividend paid in respect of prior period 79.9 sen 115.7 sen 79.9 sen 115.7 sen - special dividend paid in respect of current period - 218.3 sen - 218.3 sen 2 HSBC BANK MALAYSIA BERHAD (Company No. 198401015221 (127776-V)) (Incorporated in Malaysia) UNAUDITED CONDENSED STATEMENT OF PROFIT OR LOSS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2020 (Cont'd) Bank Second Quarter Six Months Ended 30 Jun 2020 30 Jun 2019 30 Jun 2020 30 Jun 2019 Note RM'000 RM'000 RM'000 RM'000 Interest income 27 500,814 606,072 1,071,710 1,223,225 Interest expense 27 (153,636) (207,064) (329,729) (409,943) Net interest income 27 347,178 399,008 741,981 813,282 Fee and commission income 28 86,159 106,374 197,442 220,833 Fee and commission expense 28 (5,485) (21,965) (30,391) (31,144) Net fee and commission income 28 80,674 84,409 167,051 189,689 Net trading income 29 162,785 164,315 348,935 336,722 Net expenses from Financial Liabilities Designated at Fair Value (18,165) (34,192) (51,723) (67,439) Other operating income 31 110,192 95,965 156,843 133,461 Operating income before impairment losses 682,664 709,505 1,363,087 1,405,715 Impairment allowance/provisions 32 (127,161) (20,128) (204,800) (29,511) Net operating income 555,503 689,377 1,158,287 1,376,204 Other operating expenses 33 (377,032) (392,428) (761,476) (742,013) Profit before tax 178,471 296,949 396,811 634,191 Tax expense (33,464) (60,295) (88,049) (146,044) Profit for the period 145,007 236,654 308,762 488,147 Basic earnings per RM0.50 ordinary share 63.3 sen 103.3 sen 134.8 sen 213.2 sen Dividends per RM0.50 ordinary share (net) - final dividend paid in respect of prior period 79.9 sen 115.7 sen 79.9 sen 115.7 sen - special dividend paid in respect of current period - 218.3 sen - 218.3 sen The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements of the Group and the Bank for the financial year ended 31 December 2019 and the accompanying explanatory notes on pages 13 to 49 attached to the unaudited condensed interim financial statements. The unaudited condensed interim financial statements were approved by the Board of Directors on 24 July 2020. 3 HSBC BANK MALAYSIA BERHAD (Company No. 198401015221 (127776-V)) (Incorporated in Malaysia) UNAUDITED CONDENSED STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2020 Group Second Quarter Six Months Ended 30 Jun 2020 30 Jun 2019 30 Jun 2020 30 Jun 2019 RM'000 RM'000 RM'000 RM'000 Other comprehensive income/(expense) Items that will not be reclassified to profit or loss Own credit reserve: Change in fair value (7,408) (3,638) 26,320 (4,472) Income tax effect 1,778 873 (6,317) 1,073 Items that will subsequently be reclassified to profit or loss when specific conditions are met Fair value through other comprehensive income reserve: Change in fair value 77,252 42,750 131,476 87,067 Amount transferred to profit or loss (33,094) (33,686) (87,680) (45,714) Impairment 4,498 20 4,618 346 Income tax effect (14,674) (4,470) (14,587) (12,219) Financial assets designated as fair value through other comprehensive income Change in fair value 16,982 9,557 16,982 9,557 Other comprehensive income for the financial period, net of income tax 45,334 11,406 70,812 35,638 Total comprehensive income for the period 136,134 246,597 341,575 570,224 Profit attributable to owner of the Bank 90,800 235,191 270,763 534,586 Total comprehensive income attributable to owner of the Bank 136,134 246,597 341,575 570,224 4 HSBC BANK MALAYSIA BERHAD (Company No. 198401015221 (127776-V)) (Incorporated in Malaysia) UNAUDITED CONDENSED STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2020 (Cont'd) Bank Second Quarter Six Months Ended 30 Jun 2020 30 Jun 2019 30 Jun 2020 30 Jun 2019 RM'000 RM'000 RM'000 RM'000 Other comprehensive income/(expense) Items that will not be reclassified to profit or loss Own credit reserve: Change in fair value (6,266) (4,121) 9,633 (5,984) Income tax effect 1,504 989 (2,312) 1,436 Items that will subsequently be reclassified to profit or loss when specific conditions are met Fair value through other comprehensive income reserve: Change in fair value 65,224 33,173 114,856 72,985 Amount transferred to profit or loss (33,095) (27,138) (81,571) (39,204) Impairment 3,535 (12) 3,657 222 Income tax effect (11,786) (3,742) (12,064) (10,401) Financial assets designated as fair value through other comprehensive income Change in fair value 16,982 9,557 16,982 9,557 Other comprehensive income for the financial period, net of income tax 36,098 8,706 49,181 28,611 Total comprehensive income for the period 181,105 245,360 357,943 516,758 Profit attributable to owner of the Bank 145,007 236,654 308,762 488,147 Total comprehensive income attributable to owner of the Bank 181,105 245,360 357,943 516,758 The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements of the Group and the Bank for the financial year ended 31 December 2019 and the accompanying explanatory notes on pages 13 to 49 attached to the unaudited condensed interim financial statements.
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