Ctbc Financial Holding Co., Ltd. Consolidated
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1 Stock Code:2891 (English Translation of Consolidated Financial Statements and Report Originally Issued in Chinese) CTBC FINANCIAL HOLDING CO., LTD. CONSOLIDATED INTERIM FINANCIAL STATEMENTS June 30, 2017 and 2016 (With Independent Auditors’ Report Thereon) Address：27F and 29F, No.168, Jingmao 2nd Rd., Nangang Dist., Taipei City 115, Taiwan, R.O.C. Telephone：886-2-3327-7777 The auditors’ 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 auditors’ 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’ Report 3 4. Consolidated Balance Sheets 4 5. Consolidated Statements of Comprehensive Income 5 6. Consolidated Statements of Changes in Stockholders’ Equity 6 7. Consolidated Statements of Cash Flows 7 8. Notes to the Consolidated Financial Statements (1) History and organization 8 (2) Approval date and procedures of the consolidated financial statements 8 (3) New standards, amendments and interpretations adopted 9～14 (4) Summary of significant accounting policies 15～39 (5) Primary Sources of Significant Accounting Judgments, Estimates and 40 Assumptions Uncertainty (6) Summary of major accounts 40～186 (7) Related-party transactions 187～198 (8) Pledged assets 199 (9) Significant contingent liabilities and unrecognized contract commitments 200～209 (10) Significant catastrophic losses 209 (11) Significant subsequent events 209 (12) Others 210～259 (13) Disclosures required (a) Related information on significant transactions 260～264 (b) Related information on reinvestment 264～266 (c) Information on investment in mainland China 266～267 (14) Segment information 268～269 KPMG 11049 5 7 68 ( 101 ) Telephone + 886 (2) 8101 6666 台北市 信義路 段 號 樓 台北 大樓 68F., TAIPEI 101 TOWER, No. 7, Sec. 5, Fax 電話 + 886 (2) 8101 6667 Xinyi Road, Taipei City 11049, Taiwan (R.O.C.) Internet 傳真 kpmg.com/tw 網址 KPMG, a Taiwan partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. 4 (English Translation of Consolidated Financial Statements and Report Originally Issued in Chinese) CTBC FINANCIAL HOLDING CO., LTD. AND ITS SUBSIDIARIES Consolidated Balance Sheets June 30, 2017, December 31, 2016, and June 30, 2016 (Expressed in Thousands of New Taiwan Dollars) June 30, 2017 December 31, 2016 June 30, 2016 June 30, 2017 December 31, 2016 June 30, 2016 ASSETS Amount % Amount % Amount % LIABILITIES AND EQUITY Amount % Amount % Amount % 11000 Cash and cash equivalents(Note 4 and 6(a)) $ 132,492,566 3 128,881,516 3 102,648,061 2 Liabilities: 11500 Due from the central bank and call loans to 298,354,150 6 265,151,265 5 321,100,659 7 21000 Deposits from Central Bank and banks(Note 6(r)) $ 77,868,345 2 63,498,683 1 63,539,594 2 banks(Note 6(b) and 8) 21500 Due to Central Bank and banks(Note 6(s)) 15,051,345 - 15,752,488 - 25,889,481 1 12000 Financial assets measured at fair value through profit 174,503,886 4 195,315,251 4 189,074,856 4 22000 Financial liabilities measured at fair value through 74,531,268 1 97,582,396 2 108,284,759 2 or loss(Note 4, 6(c) and (t)) profit or loss(Note 4 and 6(c)) 12100 Available-for-sale financial assets-net(Note 4, 6(d) 748,691,754 15 808,810,459 17 716,841,390 15 22300 Derivative financial liabilities-hedging-net(Note 4 281,876 - 303,599 - 623,276 - and (t), 8 and 9(a)) and 6(e)) 12300 Derivative financial assets-hedging-net (Note 4 and 223,611 - 416,342 - 264,130 - 22500 Securities sold under repurchase agreements(Note 68,581,731 1 49,491,084 1 57,351,552 1 6(e)) 4,6(t) and7) 12500 Securities purchased under resell agreements(Note 4 25,576,088 1 25,510,984 1 6,478,585 - 22600 Commercial papers payable-net(Note 6(u) and 7) 31,600,931 1 28,248,099 1 12,947,509 - and 6(f)) 23000 Payables(Note 6(v) and 7) 105,136,110 2 78,876,776 2 107,741,398 2 13000 Receivables-net(Note 4, 6(g) and (i), 7 and 8) 154,853,490 3 130,315,259 3 173,865,721 4 23200 Current income tax liabilities(Note 4) 5,261,994 - 2,435,981 - 4,445,283 - 13200 Current income tax assets(Note 4) 1,909,130 - 2,377,851 - 1,423,635 - 23500 Deposits and remittances(Note 6(w) and 7) 2,826,426,634 56 2,748,419,254 57 2,707,157,404 57 13500 Loans-net(Note 4, 6(h) and (i), and 7) 2,151,031,367 42 2,112,661,940 44 2,179,823,960 46 24000 Bonds payable(Note 6(c), (e) and (y)) 114,693,780 2 99,355,898 2 101,964,884 2 13700 Reinsurance assets-net(Note 4 and 6(j)) 2,434,001 - 3,322,732 - 3,548,653 - 24600 Provisions(Note 4, 6(z), (ac) and (ad)) 1,252,267,684 25 1,152,859,490 24 1,034,129,489 22 14500 Held-to-maturity financial assets-net(Note 4, 6(k), (t) 349,812,943 7 216,315,007 5 201,780,520 4 and 8) 25500 Other financial liabilities(Note 4, 6(aa) and (an)) 194,351,866 4 199,621,926 4 230,248,830 5 15000 Investments under equity method-net(Note 4 and 17,785,089 - 17,885,709 - 17,267,733 - 29300 Deferred income tax liabilities(Note 4) 2,755,343 - 1,506,995 - 3,664,498 - 6(l)) 29500 Other liabilities(Note 6(ab)) 14,850,009 - 19,103,166 - 15,827,096 - 15500 Other financial assets-net(Note 4, 6(i) , (m) and (ad), 820,207,622 16 739,955,696 15 653,721,172 14 Total liabilities 4,783,658,916 94 4,557,055,835 94 4,473,815,053 94 and 8) Stockholders’ equity - parent company: 18000 Investment property-net(Note 4 and 6(n)) 56,169,317 1 47,009,937 1 30,361,715 1 31100 Capital stock: 18500 Premises and equipment-net(Note 4 and 6(o)) 52,869,221 1 60,463,447 1 64,638,495 2 31101 Common stock(Note 6(ag)) 194,969,896 4 194,969,896 4 180,547,806 4 19000 Intangible assets-net(Note 4, 6(p) and 12(o)) 23,413,677 - 23,383,294 - 23,629,944 - 31107 Stock dividend to be distributed - - - - 14,422,090 - 19300 Deferred income tax assets(Note 4 ) 13,082,287 - 10,347,900 - 11,173,941 - 31500 Capital surplus(Note 6(ag)) 33,717,244 1 36,637,717 1 36,644,757 1 19500 Other assets-net(Note 4, 6(q) and 8) 44,029,990 1 51,126,665 1 57,695,897 1 32000 Retained earnings: 32001 Legal reserve 20,467,553 - 17,674,655 - 17,674,655 - 32003 Special reserve 30,688,579 1 21,886,995 - 21,886,995 1 32005 Undistributed earnings(Note 6(ah)) 19,497,980 - 28,249,266 1 14,523,095 - 32500 Other equity interest(Note 6(ag)) (15,062,549) - (16,728,988) - (3,683,426) - 32600 Treasury stock(Note 4 and 6(ag)) (582,754) - (582,754) - (582,754) - 39500 Non-controlling interests 85,324 - 88,632 - 90,796 - Total equity 283,781,273 6 282,195,419 6 281,524,014 6 TOTAL ASSETS $ 5,067,440,189 100 4,839,251,254 100 4,755,339,067 100 TOTAL LIABILITIES AND EQUITY $ 5,067,440,189 100 4,839,251,254 100 4,755,339,067 100 See accompanying notes to financial statements. 5 (English Translation of Consolidated Financial Statements and Report Originally Issued in Chinese) CTBC FINANCIAL HOLDING CO., LTD. AND ITS SUBSIDIARIES Consolidated Statements of Comprehensive Income For the six months ended June 30, 2017 and 2016 (Expressed in Thousands of New Taiwan Dollars , Except for Earnings Per Share) For the three months ended June 30 For the six months ended June 30 2017 2016 2017 2016 Amount % Amount % Amount % Amount % 41000 Interest income(Note 6(ak)) $ 27,100,551 36 25,033,877 33 53,528,695 32 49,924,244 33 51000 Less:Interest expenses(Note 6(ak)) (4,992,198) (7) (4,602,183) (6) (9,801,363) (6) (9,773,933) (6) Net income of interest (Note 6(ak)) 22,108,353 29 20,431,694 27 43,727,332 26 40,150,311 27 Net non-interest income (loss) 49800 Service fee and commission income(Note 6(al)) 5,353,988 7 4,386,803 6 10,653,533 6 10,383,583 7 49810 Net insurance income(Note 6 (am)) 42,201,091 57 45,475,942 60 104,639,982 62 91,823,475 61 49820 (Losses) gains on financial assets measured at fair value through profit or loss(Note 6(an)) (388,908) (1) 2,787,801 4 27,744,753 16 13,182,364 9 49825 Gains on investment properties 192,372 - 113,394 - 329,209 - 120,444 - 49830 Realized gains on available-for-sale financial assets(Note 6(ag)) 2,184,674 3 2,642,947 4 3,552,398 2 4,871,243 3 49840 Realized gains on held-to-maturity financial assets 3,578 - 104 - 3,667 - 211 - 49870 Foreign exchange gains (losses) 2,342,371 3 (1,824,521) (2) (25,543,851) (15) (11,577,682) (8) 49880 Impairment loss on assets (Note 6(m)) (3,553) - (65,614) - (59,521) - (72,780) - 49890 Proportionate share of gains from associates or joint ventures under equity method(Note 78,437 - 69,386 - 173,616 - 130,235 - 6(l)) 49900 Other net non-interest income 2,149,842 3 1,870,733 2 5,954,384 4 3,484,981 2 58099 Public-welfare lottery payment (422,701) (1) (509,992) (1) (1,540,543) (1) (1,562,203) (1) Net revenue 75,799,544 100 75,378,677 100 169,634,959 100 150,934,182 100 58100 Provisions for bad debt expenses and guarantee reserve(Note 6(i)) (1,018,650) 1 (897,506) (1) (382,512) - (3,380,725) (2) 58300 Net changes in insurance liability reserve(Note 6(ap)) (48,554,294) (64) (50,660,419) (67) (116,240,313) (69) (100,557,629) (67) Operating expenses: 58501 Employee benefits expenses(Note 6(aq)) (8,989,817) (12) (7,685,283) (11) (17,787,798) (10) (15,667,237) (10) 58503 Depreciation and amortization expenses(Note 6(ar)) (930,390) (1) (886,839) (1) (1,808,087) (1) (1,767,216) (1) 58599 Other general and administrative expenses(Note 6(at)) (5,799,870) (8) (5,991,504) (8) (11,133,438) (7) (11,736,698) (8) Total operating expenses (15,720,077) (21) (14,563,626) (20) (30,729,323) (18)