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Ctbc Bank Co., Ltd. and Subsidiaries 1 Stock Code: 5841 CTBC BANK CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements With Independent Auditors’ Review Report For the Three Months Ended March 31, 2021 and 2020 Address: No. 166, 168, 170, 186, 188, Jingmao 2nd Rd., Nangang Dist., Taipei City 115, Taiwan, R.O.C. Telephone: 886-2-3327-7777 The independent auditors’ review report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors’ review report and consolidated financial statements, the Chinese version shall prevail. 2 Table of contents Contents Page 1. Cover Page 1 2. Table of Contents 2 3. Independent Auditors’ Review Report 3 4. Consolidated Balance Sheets 4 5. Consolidated Statements of Comprehensive Income 5 6. Consolidated Statements of Changes in Equity 6 7. Consolidated Statements of Cash Flows 7 8. Notes to the Consolidated Financial Statements (1) Company history 8～10 (2) Approval date and procedures of the consolidated financial statements 10 (3) New standards, amendments and interpretations adopted 10～14 (4) Summary of significant accounting policies 14～32 (5) Significant accounting assumptions and judgments, and major sources 32 of estimation uncertainty (6) Explanation of significant accounts 33～139 (7) Related-party transactions 140～152 (8) Pledged assets 152～153 (9) Commitments and contingencies 153～159 (10) Losses Due to Major Disasters 159 (11) Subsequent Events 159 (12) Other 159～169 (13) Other disclosures (a) Information on significant transactions 170～171 (b) Information on investment in mainland China 171～172 (14) Segment information 173 3 Independent Auditors’ Review Report To the Board of Directors of CTBC Bank Co., Ltd.: Introduction We have reviewed the consolidated financial statements of CTBC Bank Co., Ltd. (“ the Bank” ) and its subsidiaries, which comprise the consolidated balance sheets as of March 31, 2021 and 2020, the consolidated statements of comprehensive income, changes in stockholders’ equity and cash flows for the three months ended March 31, 2021 and 2020, and notes to the consolidated financial statements, including a summary of significant accounting policies. Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Public Banks, Regulations Governing the Preparation of Financial Reports by Securities Firms, Regulations Governing the Preparation of Financial Reports by Futures Commission Merchant and International Accounting Standards 34, “ Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews. Scope of Review We conducted our reviews in accordance with Statement of Auditing Standards 65, “ Review of Financial Information Performed by the Independent Auditor of the Entity” . A review of the consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the generally accepted auditing standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Bank and its subsidiaries as of March 31, 2021 and 2020, and its consolidated financial performance and its consolidated cash flows for the three months ended March 31, 2021 and 2020 in accordance with the Regulations Governing the Preparation of Financial Reports by Public Banks, Regulations Governing the Preparation of Financial Reports by Securities Firms, Regulations Governing the Preparation of Financial Reports by Futures Commission Merchant and International Accounting Standards 34, “ Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. 3-1 Emphasis of Matter The judicial cases as stated in Note 9(b). Part of judicial cases are still under investigation by the judiciary, and the results remain uncertain. Our conclusion is not modified in respect of this matter. The engagement partners on the review resulting in this independent auditors’ review report are Wu, Lin and Tzang, Kuo-Yang. KPMG Taipei, Taiwan (Republic of China) May 12, 2021 Notes to Readers The accompanying consolidated financial statements are intended only to present the consolidated statement of financial position, financial performance and cash flows in accordance with the accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to review such consolidated financial statements are those generally accepted and applied in the Republic of China. The independent auditors’ review report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors’ review report and consolidated financial statements, the Chinese version shall prevail. 4 (English Translation of Consolidated Financial Statements Originally Issued in Chinese) Reviewed only, not audited in accordance with the generally accepted auditing standards as of March 31, 2021 and 2020 CTBC BANK CO., LTD. AND SUBSIDIARIES Consolidated Balance Sheets March 31, 2021, December 31, 2020, and March 31, 2020 (Expressed in Thousands of New Taiwan Dollars) March 31, 2021 December 31, 2020 March 31, 2020 March 31, 2021 December 31, 2020 March 31, 2020 ASSETS Amount % Amount % Amount % LIABILITIES AND EQUITY Amount % Amount % Amount % 11000 Cash and cash equivalents (note 4, 6(a) and (f), and $ 63,598,901 1 62,941,038 2 80,241,689 2 Liabilities: 7) 21000 Deposits from Central Bank and other banks (note $ 49,649,156 1 55,993,946 1 96,352,596 2 11500 Due from Central Bank and call loans to banks (note 310,576,559 7 357,920,481 8 309,297,298 7 6(r) and 7) 6(b), 7 and 8) 21500 Due to Central Bank and other banks (note 6(s) and 4,499,044 - 5,223,928 - 12,344,406 - 12000 Financial assets measured at fair value through profit 162,397,730 4 194,402,273 4 274,066,811 6 8) or loss (note 4, 6(c), (t) and (ao), and 7) 22000 Financial liabilities measured at fair value through 55,943,297 1 77,517,104 2 159,978,712 4 12100 Financial assets measured at fair value through other 300,247,516 7 352,833,641 8 283,244,496 7 profit or loss (note 4, 6(c) and (ao), and 7) comprehensive income (note 4, 6(d), (t) and (ao), 22300 Financial liabilities-hedging (note 4, 6(f) and (ao)) 378,856 - 211,672 - 169,434 - and 8) 22500 Securities sold under repurchase agreements (note 4 84,674,628 2 80,419,543 2 99,853,616 2 12200 Investment in debt instruments at amortized cost 858,010,884 19 781,466,726 17 702,784,145 16 and 6(t)) (note 4, 6(e), (t) and (ao), and 8) 23000 Payables (note 6(u) and 7) 73,956,934 2 77,827,894 2 80,150,938 2 12300 Financial assets-hedging (note 4, 6(f) and (ao)) 298,444 - 16,394 - 125,217 - 23200 Current income tax liabilities (note 4) 4,169,639 - 3,063,209 - 3,029,120 - 12500 Securities purchased under resell agreements (note 4 3,721,688 - 2,607,710 - 3,220,339 - 23500 Deposits and remittances (note 6(v) and 7) 3,787,786,660 84 3,750,938,038 83 3,444,331,695 79 and 6(g)) 24000 Financial debentures (note 6(c) and (w)) 58,999,998 2 58,999,999 2 58,999,996 1 13000 Receivables-net (note 4, 6(h), (j) and (ao), 7 and 8) 130,981,075 3 141,259,787 3 136,608,994 3 25500 Other financial liabilities (note 6(x)) 42,646,882 1 50,664,147 1 83,733,614 2 13200 Current income tax assets (note 4) 1,160,586 - 1,116,121 - 1,080,249 - 25600 Provisions (note 4, 6(j), (y) and (ab)) 5,199,041 - 5,412,445 - 5,205,196 - 13500 Loans-net (note 4, 6(i), (j) and (ao), 7 and 8) 2,547,416,524 56 2,475,938,077 55 2,459,153,740 56 26000 Lease liabilities (note 4, 6(aa) and 7) 13,638,660 - 14,285,447 - 13,512,114 - 15000 Investment under equity method-net (note 4 and 19,242,012 1 19,649,774 1 19,281,929 1 29300 Deferred tax liabilities (note 4) 4,716,842 - 4,799,121 - 4,493,974 - 6(k)) 29500 Other liabilities (note 6(z)) 12,032,149 - 12,519,535 - 19,671,407 1 15500 Other financial assets-net (note 4, 6(j), (l) and (ao), 1,032,189 - 1,420,083 - 1,093,142 - Total Liabilities 4,198,291,786 93 4,197,876,028 93 4,081,826,818 93 and 8) Stockholders’ Equity - Parent Company: 18500 Premises and equipment-net (note 4 and 6(n)) 42,177,332 1 43,000,685 1 44,032,245 1 Capital stock: 18600 Right-of-use assets-net (note 4 and 6(o)) 15,781,673 - 16,178,313 - 15,933,251 - 31101 Common stock (note 6(ad)) 147,962,186 3 147,962,186 3 144,098,754 3 18700 Investment property-net (note 4 and 6(m)) 5,522,185 - 5,146,251 - 5,026,024 - Capital surplus: (note 6(ad)) 19000 Intangible assets-net (note 4 and 6(p))
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