Fubon Financial Holding Co., Ltd. and Its Subsidiaries
Total Page:16
File Type:pdf, Size:1020Kb
FUBON FINANCIAL HOLDING CO., LTD. AND ITS SUBSIDIARIES Consolidated Interim Financial Statements June 30, 2014 and 2013 (With Independent Accountants' Report Thereon) FUBON FINANCIAL HOLDING CO., LTD. AND ITS SUBSIDIARIES Consolidated Balance Sheets June 30, 2014, and December 31 and June 30, 2013 (expressed in thousands of New Taiwan Dollars) June 30, 2014 December 31, 2013 June 30, 2013 June 30, 2014 December 31, 2013 June 30, 2013 Assets Amount % Amount % Amount % Liabilities and Stockholders' Equity Amount % Amount % Amount % Cash and cash equivalents (note 6 and 44) $ 168,447,311 3 194,224,779 4 139,581,491 3 Liabilities: Due from Central Bank and call loans to banks (note 7) 159,216,772 3 104,504,015 2 133,057,468 3 Due to Central Bank of China and other banks $ 110,658,221 2 91,718,827 2 74,685,907 2 Financial assets measured at fair value through profit or loss (note 8 and 44) 107,748,438 2 93,717,804 2 97,615,263 2 Financial liabilities measured at fair value through profit or loss (note 23) 47,980,175 1 43,000,297 1 39,319,830 1 Available-for-sale financial assets, net (note 9 and 44) 1,781,571,105 35 1,631,464,808 36 1,524,720,978 35 Hedging derivative financial liabilities (note 11) 1,853,027 - 1,872,070 - 2,080,308 - Hedging derivative financial assets (note 10) 524,606 - 517,817 - 630,617 - Securities sold under repurchase agreements (note 24) 91,898,020 2 48,188,694 1 42,248,367 1 Securities purchased under resell agreements (note 11) 70,055,362 1 72,391,296 2 74,050,430 2 Commercial paper payables, net (note 25) 5,823,522 - 4,724,342 - 5,589,492 - Receivables, net (note 12) 179,750,224 4 145,015,571 3 124,885,545 3 Payables 100,973,926 2 77,844,483 2 97,215,292 2 Current income tax assets 942,139 - 950,196 - 1,494,875 - Current income tax liabilities 5,524,865 - 5,951,820 - 5,996,852 1 Asset held for sale, net (note 13) 94,166 - - - - - Deposits (note 26) 1,767,923,312 35 1,504,452,622 33 1,461,433,294 34 Loans, net (note 14) 1,569,422,478 31 1,352,883,952 30 1,288,087,322 31 Bonds payable (note 27) 127,496,721 2 114,003,337 2 107,767,575 2 Reinsurance contract assets, net (note 15) 15,221,525 - 14,033,829 - 12,247,830 - Other borrowings (note 28) 1,100,000 - 35,000 - 1,100,000 - Held-to-maturity financial assets, net (note 16 and 44) 235,176,755 5 216,982,867 5 215,865,552 5 Provisions (note 29) 2,284,527,807 45 2,160,927,865 47 2,013,781,896 47 Investments in equity-accounted investees, net (note 17) 5,337,447 - 5,133,579 - 5,078,852 - Other financial liabilities (note 30) 185,886,426 4 182,285,637 4 168,633,918 4 Other financial assets, net (note 18) 617,993,655 12 571,464,921 13 539,311,843 12 Deferred tax liabilities (note 32) 8,702,229 - 2,474,686 - 2,325,023 - Investment property, net (note 19 and 44) 87,390,241 2 88,287,548 2 88,318,214 2 Other liabilities (note 31) 13,437,523 - 16,387,266 - 13,618,047 - Property, plant and equipment, net (note 20) 42,371,808 1 34,003,921 1 33,046,331 1 Total liabilities 4,753,785,774 93 4,253,866,946 92 4,035,795,801 94 Intangible assets, net (note 21) 30,167,080 - 13,454,750 - 13,439,702 - Equity attributable to owners of the parent (note 33 ) : Deferred tax assets (note 32) 5,546,614 - 6,728,774 - 5,738,973 - Common stock 102,336,040 2 102,336,040 2 95,351,652 2 Other assets, net (note 22) 44,379,493 1 24,786,415 - 21,670,131 1 Capital surplus 74,446,982 1 74,446,982 2 55,785,647 1 Retained earnings: Legal reserve 35,176,861 1 31,905,926 1 31,905,926 1 Special reserve 2,985,366 - 2,985,366 - 2,985,366 - Unappropriated retained earnings 84,259,699 2 75,533,098 2 60,590,069 1 Total retained earnings 122,421,926 3 110,424,390 3 95,481,361 2 Other equity 61,009,597 1 29,250,223 1 36,426,956 1 Total stockholders' equity 360,214,545 7 316,457,635 8 283,045,616 6 Non-controlling interests 7,356,900 - 222,261 - - - Total equity 367,571,445 7 316,679,896 8 283,045,616 6 Total assets $ 5,121,357,219 100 4,570,546,842 100 4,318,841,417 100 Total liabilities and stockholders' equity $ 5,121,357,219 100 4,570,546,842 100 4,318,841,417 100 See accompanying notes to consolidated financial statements. FUBON FINANCIAL HOLDING CO., LTD. AND ITS SUBSIDIARIES Consolidated Statements of Comprehensive Income For the three-month and six-month periods ended June 30, 2014 and 2013 (expressed in thousands of New Taiwan Dollars, except earnings per share) For the three-month periods ended June 30 For the six-month periods ended June 30 2014 2013 2014 2013 Amount % Amount % Amount % Amount % Interest income (note 36) $ 28,808,200 35 20,958,074 23 56,849,817 31 41,746,150 23 Less: Interest expense (note 36) 6,779,312 8 3,575,832 4 13,027,266 7 7,038,929 4 Net interest income 22,028,888 27 17,382,242 19 43,822,551 24 34,707,221 19 Non-interest income, net: Service fees and commission income, net (note 36) (1,578,318) (2) (1,294,233) (1) (2,533,109) (1) (2,373,176) (1) Insurance income, net (note 36) 49,924,368 60 66,009,162 71 111,011,117 61 125,377,772 70 Gains (losses) on financial assets or liabilities measured at fair value through profit or loss 10,200,484 12 (1,773,667) (2) 1,362,795 1 (11,470,608) (6) Gains on investment property 501,597 1 320,627 - 1,246,134 1 911,516 - Realized gains on available-for-sale financial assets 12,524,295 15 10,546,633 11 22,988,601 13 18,824,479 10 Realized losses on held-to-maturity financial assets (3,957) - (533) - (3,738) - (1,009) - Foreign exchange gains (losses) (12,393,616) (15) 1,856,074 2 (70,955) - 13,564,811 8 Reversal gains of impairment on assets 111,244 - 151,023 - 87,978 - 193,832 - Share of income of associates and joint ventures under equity method (note 17) 263,210 - 127,963 - 417,083 - 208,981 - Other non-interest gains (losses) 1,402,804 2 (18,131) - 2,034,962 1 (543,150) - Net Revenue 82,980,999 100 93,307,160 100 180,363,419 100 179,400,669 100 Provision losses (reversal gains) for bad debt expenses and guarantee reserve (411,330) - (115,391) - (398,515) - 74,263 - Net change in provision for insurance liability reserve (note 36) (54,570,337) 66 (72,191,583) 77 (123,682,456) 68 (136,040,047) 76 Operating expenses : Employee benefits expenses (note 36) (6,334,712) 8 (5,820,380) 6 (12,663,142) 7 (11,618,330) 6 Depreciation and amortization expenses (note 36) (676,649) 1 (462,721) - (1,351,887) 1 (983,284) 1 Other general and administrative expenses (note 36) (4,671,415) 6 (4,340,369) 5 (9,114,693) 5 (8,159,143) 5 Total operating expenses (11,682,776) 15 (10,623,470) 11 (23,129,722) 13 (20,760,757) 12 Net income before income tax from continuing operations 16,316,556 19 10,376,716 12 33,152,726 19 22,674,128 12 Income tax expenses (note 32) (2,766,257) (3) (2,624,490) (3) (5,667,608) (3) (4,775,486) (3) Net income $ 13,550,299 16 7,752,226 9 27,485,118 16 17,898,642 9 Other comprehensive income (losses): Exchange differences arising on translation of foreign operations $ (1,423,674) (2) 261,107 - (1,187,438) (1) 925,323 1 Unrealized gains (losses) on available-for-sale financial assets 17,877,989 22 (26,913,998) (29) 38,702,313 21 (40,037,747) (22) Losses on effective portions of cash flow hedges (22,580) - (45,386) - (10,127) - (78,073) - Share of other comprehensive (losses) income of associates and joint ventures under equity method 99,316 - 10,086 - 65,942 - 88,414 - Income tax related to components of other comprehensive income (2,621,059) (3) 6,041,505 6 (5,954,002) (3) 7,134,566 4 Other comprehensive income (losses) for the period, net of income tax $ 13,909,992 17 (20,646,686) (23) 31,616,688 17 (31,967,517) (17) Total comprehensive income (losses) for the period $ 27,460,291 33 (12,894,460) (14) 59,101,806 33 (14,068,875) (8) Consolidated net income attributable to: Owners of parent $ 13,482,320 16 7,752,226 9 27,347,943 16 17,898,642 9 Non-controlling interests 67,979 - - - 137,175 - - - $ 13,550,299 16 7,752,226 9 27,485,118 16 17,898,642 9 Other comprehensive income attributable to: Owners of parent $ 27,491,636 33 (12,894,460) (14) 59,107,317 33 (14,068,875) (8) Non-controlling interests (31,345) - - - (5,511) - - - $ 27,460,291 33 (12,894,460) (14) 59,101,806 33 (14,068,875) (8) Earnings per share (NTD) (note 36) $ 1.32 0.81 2.67 1.88 See accompanying notes to consolidated financial statements.