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CTBC BANK CO., LTD. and SUBSIDIARIES Notes to The 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, 2020 and 2019 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 10～11 (4) Summary of significant accounting policies 11～30 (5) Significant accounting assumptions and judgments, and major sources 30 of estimation uncertainty (6) Explanation of significant accounts 30～136 (7) Related-party transactions 136～149 (8) Pledged assets 150 (9) Commitments and contingencies 151～157 (10) Losses Due to Major Disasters 157 (11) Subsequent Events 157 (12) Other 157～167 (13) Other disclosures (a) Information on significant transactions 168～169 (b) Information on investment in mainland China 169 (14) Segment information 170 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 Originally Issued in Chinese) Reviewed only, not audited in accordance with the generally accepted auditing standards as of March 31, 2020 and 2019 CTBC BANK CO., LTD. AND SUBSIDIARIES Consolidated Balance Sheets March 31, 2020, December 31, 2019, and March 31, 2019 (Expressed in Thousands of New Taiwan Dollars) March 31, 2020 December 31, 2019 March 31, 2019 March 31, 2020 December 31, 2019 March 31, 2019 ASSETS Amount % Amount % Amount % LIABILITIES AND EQUITY Amount % Amount % Amount % 11000 Cash and cash equivalents (note 4, 6(a) and (f)) $ 80,241,689 2 71,132,119 2 79,876,698 2 Liabilities: 11500 Due from Central Bank and call loans to banks (note 309,297,298 7 250,751,058 6 258,657,237 6 21000 Deposits from Central Bank and other banks (note $ 96,352,596 2 53,200,298 1 62,348,972 2 6(b), 7) 6(r) and 7) 12000 Financial assets measured at fair value through profit 274,066,811 6 168,688,304 4 185,506,239 5 21500 Due to Central Bank and other banks (note 6(s)) 12,344,406 - 12,841,645 - 10,381,546 - or loss (note 4, 6(c) and (t), and 7) 22000 Financial liabilities measured at fair value through 159,978,712 4 113,902,464 3 93,349,917 2 12100 Financial assets measured at fair value through other 283,244,496 7 320,550,304 8 262,962,012 6 profit or loss (note 4 and 6(c)) comprehensive income (note 4, 6(d) and (t), and 22300 Financial liabilities-hedging (note 4 and 6(f)) 169,434 - 37,437 - 147,116 - 8) 22500 Securities sold under repurchase agreements (note 4 99,853,616 2 92,542,347 2 94,852,155 2 12200 Investment in debt instruments at amortized cost 702,784,145 16 694,995,472 17 695,787,449 17 and 6(t)) (note 4, 6(e) and (t), and 8) 23000 Payables (note 6(u) and 7) 80,150,938 2 79,401,366 2 77,287,166 2 12300 Financial assets-hedging (note 4 and 6(f)) 125,217 - 330,764 - 3,191 - 23200 Current income tax liabilities (note 4) 3,029,120 - 3,038,409 - 3,314,124 - 12500 Securities purchased under resell agreements (note 4 3,220,339 - 852,440 - 14,920,861 - and 6(g)) 23500 Deposits and remittances (note 6(v) and 7) 3,444,331,695 79 3,381,818,453 80 3,254,021,998 79 13000 Receivables-net (note 4, 6(h), (j) and (ao), 7 and 8) 136,608,994 3 158,589,562 4 147,836,256 4 24000 Financial debentures (note 6(c) and (w)) 58,999,996 1 58,999,992 1 58,999,996 2 13200 Current income tax assets (note 4) 1,080,249 - 742,438 - 1,050,275 - 25500 Other financial liabilities (note 6(x)) 83,733,614 2 86,473,304 2 112,034,121 3 13500 Loans-net (note 4, 6(i), (j) and (ao), and 7) 2,459,153,740 56 2,417,691,180 57 2,319,231,700 57 25600 Provisions (note 4, 6(j), (y) and (ab)) 5,205,196 - 5,238,059 - 5,522,369 - 15000 Investment under equity method-net (note 4 and 19,281,929 1 20,967,614 - 20,504,240 1 26000 Lease liabilities (note 4, 6(aa) and 7) 13,512,114 - 13,763,018 - 14,162,175 - 6(k)) 29300 Deferred tax liabilities (note 4) 4,493,974 - 2,774,469 - 1,666,930 - 15500 Other financial assets-net (note 4, 6(j) and (l), and 8) 1,093,142 - 1,202,761 - 667,188 - 29500 Other liabilities (note 6(z)) 19,671,407 1 13,810,194 - 12,038,800 - 18500 Premises and equipment-net(note 4 and 6(n)) 44,032,245 1 44,333,954 1 47,882,287 1 Total Liabilities 4,081,826,818 93 3,917,841,455 91 3,800,127,385 92 18600 Right-of-use assets-net (note 4 and 6(o)) 15,933,251 - 15,969,575 - 16,771,690 - Stockholders’ Equity - Parent Company: 18700 Investment property-net (note 4 and 6(m)) 5,026,024 - 5,032,906 - 1,727,695 - Capital stock : 19000 Intangible assets-net (note 4 and 6(p)) 15,769,143 - 15,765,904 - 15,889,865 - 31101 Common stock (note 6(ad)) 144,098,754 3 144,098,754 4 140,685,719 3 19300 Deferred income tax assets (note 4) 7,569,516 - 6,529,966 - 6,474,638 - Capital surplus:(note 6(ad)) 19500 Other assets-net (note 4 and 6(q)) 36,618,009 1 33,044,449 1 32,471,371 1 31501 Capital premium 28,607,197 1 28,607,197 1 28,607,197 1 31599 Others 1,252,008 - 1,185,867 - 1,183,094 - Retained earnings: 32001 Legal reserve 89,759,087 2 89,759,087 2 80,855,064 2 32003 Special reserve 18,744,682 - 18,744,682 1 21,738,657 1 32005 Undistributed earnings (note 6(ad)) 39,213,918 1 30,853,701 1 38,712,574 1 32500 Other equity interest (note 6(ad)) (8,427,700) - (4,001,124) - (3,767,693) - 38000 Non-controlling interests 71,473 - 81,151 - 78,895 - Total Equity 313,319,419 7 309,329,315 9 308,093,507 8 TOTAL ASSETS $ 4,395,146,237 100 4,227,170,770 100 4,108,220,892 100 TOTAL LIABILITIES AND EQUITY $ 4,395,146,237 100 4,227,170,770 100 4,108,220,892 100 See accompanying notes to consolidated financial statements. 5 (English Translation of Consolidated Financial Statements Originally Issued in Chinese) Reviewed only, not audited in accordance with generally accepted auditing standards CTBC BANK CO., LTD. AND SUBSIDIARIES Consolidated Statements of Comprehensive Income For the three months ended March 31, 2020 and 2019 (Expressed in Thousands of New Taiwan Dollars, Except for Earnings Per Share) For the three months ended March 31 2020 2019 Amount % Amount % 41000 Interest income(note 6(ah) and 7) $ 21,000,327 82 21,079,085 81 51000 Less: Interest expenses(note 6(ah) and 7) (6,552,282) (26) (7,305,156) (28) Net interest income(note 6(ah)) 14,448,045 56 13,773,929 53 Net non-interest income 49100 Service fee and commission income(note 6(ai) and 7) 9,738,073 38 9,112,497 35 49200 Gains on financial assets or liabilities measured at fair value through profit or loss(note 6(aj)) 1,010,478 4 2,994,252 12 49310 Realized gains on financial assets measured at other comprehensive income 1,443,290 6 627,764 2 49450 Gains on derecognition of financial assets measured at amortized cost 97 - 22,544 - 49600 Foreign exchange gains 254,679 1 250,900 1 49700 Reversal of impairment losses on assets 12,013 - 27,596 - 49750 Proportionate share of (losses) gains from associates or joint ventures under equity method(note 6(k)) (362,866) (1) 312,154 1 49800 Other net non-interest income 381,074 1 336,414 1 49815 Losses on investment property (5,537) - (1,243) - 49899 Public-welfare lottery payment (1,257,603) (5) (1,264,445) (5) Net revenue 25,661,743 100 26,192,362 100 58200 Provision for bad debt expenses, commitment and guarantee liability provision(note 6(j)) (1,980,599) (8) (1,154,790) (4) Operating expenses: 58500 Employee benefits expenses(note 6(ak) and (am)) (6,615,562) (26) (7,991,057) (31) 59000 Depreciation and amortization expenses(note 6(al)) (1,690,383) (6) (1,573,718) (6) 59500 Other general and administrative expenses(note 6(an)) (5,224,169) (20) (5,118,081) (20) Total operating expenses (13,530,114) (52) (14,682,856) (57) Net income before tax from continuing operations 10,151,030 40 10,354,716 39 61003 Less: Income tax expenses (note 6(ac)) 1,761,031 7 2,067,750 8 Net income 8,389,999 33 8,286,966 31 65000 Other comprehensive income: 65200 Items that will not be reclassified subsequently to profit or loss 65201 Remeasurement losses related to defined benefit plans - - (3,625) - 65205 Changes in designated as financial liabilities measured at fair value through profit or loss attributable to credit risk 2,602,886 10 749,628 3 65204 Unrealized (losses) gains from investments in equity instruments measured at fair value through other comprehensive (2,008,555) (8) 729,372 3 income 65206 Proportionate share of other comprehensive (losses) income from associates or joint ventures under the equity method (15,808)
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