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Bank of Communications Co., Ltd. 2018 INTERIM Report Stock Code: 03328 Bank of Communications Co., Ltd

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Bank of Communications Co., Ltd. 2018 INTERIM Report Stock Code: 03328 Bank of Communications Co., Ltd Bank of Communications Co., Ltd. 2018 INTERIM Report Stock Code: 03328 www.bankcomm.com 188 Yin Cheng Zhong Lu, China (Shanghai) Pilot Free Trade Zone, Shanghai, P.R. China Bank of Communications Co., Ltd. IMPORTANT REMINDERS The Board of Directors, the Board of Supervisors, Directors, Supervisors and Senior Management of the Bank warrant that the information in the Interim Report is authentic, accurate and complete, contains no false records, misleading statements or material omissions, and that they severally and jointly assume legal responsibilities for the information in this report. 2018 Interim Report and 2018 Interim Results Announcement were passed at the 20th meeting of the 8th Session of the Board of Directors of the Bank on 23 August 2018. There were 18 Directors eligible for attending the meeting, of whom 16 Directors attended the meeting in person and 2 Directors appointed others to attend the meeting. Mr. Peter Wong Tung Shun, the Vice Chairman and Mr. Liu Haoyang, the Non-executive Director did not attend the meeting in person due to work arrangement and appointed the two Non-executive Directors, Ms. Helen Wong Pik Kuen and Mr. Wang Taiyin respectively in writing to attend the meeting and exercise the voting right on their behalf. The Bank did not distribute any interim dividend or convert any capital reserve into share capital for the six months ended 30 June 2018. None of the Bank’s funds was used by controlling shareholders and other related parties for non-operating purpose. Neither did any guarantee provided to external parties violate any existing regulations nor any decision-making procedures. Prospective statements in the report, such as future plans and development strategies, do not constitute any substantive commitment of the Bank to investors. Investors are hereby reminded of investment risk. Contents Definitions 2 Changes in Ordinary Shares Corporate Information 4 and Shareholdings of Substantial Shareholders 62 Financial Highlights 6 Information of Preference Shares 66 Business Profile 8 Directors, Supervisors, Senior Management Discussion Management and Human and Analysis 9 Resource Management 69 – Business Review 9 Corporate Social Responsibilities 76 – Financial Statement Analysis 26 Significant Events 80 – Business Innovation and List of Domestic and New Products 47 Overseas Branches and – Risk Management 49 Major Subsidiaries 85 – Overview of Major 56 Interim Financial Statements Subsidiaries and Review Report 89 – Outlook 58 Supplementary Information on Capital Adequacy Ratio and BoCom-HSBC Strategic Leverage Ratio 217 Cooperation 60 DEFINITIONS The following terms will have the following meanings in this Report unless otherwise stated: “Articles of Associations” The Articles of Association of Bank of Communications Co., Ltd. as approved by the CBIRC “Bank”, “BoCom” Bank of Communications Co., Ltd. “Basis point” One in ten thousand “Board of Directors” The Board of Directors of the Bank “Board of Supervisors” The Board of Supervisors of the Bank “CBIRC” China Banking and Insurance Regulatory Commission “Central and Southern China” Including Henan Province, Hunan Province, Hubei Province, Guangdong Province, Hainan Province and Guangxi Autonomous Region “Company Law” The Company Law of the People’s Republic of China “CSRC” China Securities Regulatory Commission “Director(s)” The Director(s) of the Bank “Eastern China” Including Shanghai (excluding Head Office), Jiangsu Province, Zhejiang Province, Anhui Province, Fujian Province, Jiangxi Province and Shandong Province “Group” The Bank and its subsidiaries “Head Office” The Group’s Head Office “Hong Kong Listing Rules” The Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited “Hong Kong Stock Exchange” The Stock Exchange of Hong Kong Limited “HSBC” The Hong Kong and Shanghai Banking Corporation Limited “Ministry of Finance” The Ministry of Finance of the People’s Republic of China “Model Code” Model Code for Securities Transactions by Directors of Listed Issuers as set out in the Appendix 10 of the Hong Kong Listing Rules “North Eastern China” Including Liaoning Province, Jilin Province and Heilongjiang Province “Northern China” Including Beijing, Tianjin, Hebei Province, Shanxi Province and Inner Mongolia Autonomous Region “Overseas” Including Hong Kong Branch/Bank of Communications (Hong Kong) Limited, New York Branch, Tokyo Branch, Singapore Branch, Seoul Branch, Frankfurt Branch, Macau Branch, Ho Chi Minh City Branch, San Francisco Branch, Sydney Branch, Taipei Branch, London Branch/Bank of Communications (UK) Ltd., Bank of Communications (Luxembourg) S.A./Luxembourg Branch, Brisbane Branch, Bank of Communications (Luxembourg) S.A. Paris Branch, Bank of Communications (Luxembourg) S.A. Rome Branch, Bank of Communications (Brazil) Co., Ltd., Toronto representative office and other overseas subsidiaries 2 Bank of Communications Co., Ltd. DEFINITIONS (CONTINUED) “PBOC” The People’s Bank of China “Reporting Period” The period from 1 January 2018 to 30 June 2018 “Securities Law” Securities Law of the People’s Republic of China “SSE” The Shanghai Stock Exchange “SSF” The National Council for Social Security Fund “Supervisor(s)” The Supervisor(s) of the Bank “Western China” Including Chongqing, Sichuan Province, Guizhou Province, Yunnan Province, Shaanxi Province, Gansu Province, Qinghai Province, Ningxia Autonomous Region, Xinjiang Uyghur Autonomous Region and Tibet Autonomous Region Interim Report 2018 H Share 3 CORPORATE INFORMATION CORPORATE INFORMATION INFORMATION OF ORDINARY AND Chinese name: 交通銀行股份有限公司 PREFERENCE SHARES Chinese abbreviation: 交通銀行 Classes Stock exchange Stock name Stock code English name: Bank of Communications Co., Ltd. A Share SSE Bank of 601328 Legal representative: Peng Chun Communications H Share Hong Kong Stock BANKCOMM 03328 CONTACT PERSON AND CONTACT Exchange INFORMATION Domestic SSE BOCOM PREF1 360021 Gu Sheng (Secretary of the Board of Directors and Preference Company Secretary) Share Contact address: 188 Yin Cheng Zhong Lu, China Overseas Hong Kong Stock BOCOM 4605 (Shanghai) Pilot Free Trade Zone, Preference Exchange 15USDPREF Shanghai, P.R. China Shares Tel: 86-21-58766688 Fax: 86-21-58798398 AUDITORS E-mail: [email protected] Domestic auditor: PricewaterhouseCoopers Zhong Postal code: 200120 Tian LLP. 11th Floor PricewaterhouseCoopers ADDRESS AND OFFICIAL WEBSITE Center, 2 Corporate Avenue, 202 Registered address:188 Yin Cheng Zhong Lu, China Hu Bin Road, Shanghai, PRC (Shanghai) Pilot Free Trade Zone, Name of auditor Hu Liang, Zhou Zhang Shanghai, P.R. China signed: Official website: www.bankcomm.com International auditor: PricewaterhouseCoopers, 22/F, Head Office address: 188 Yin Cheng Zhong Lu, Prince’s Building, Central, Hong China (Shanghai) Pilot Free Trade Kong Zone, Shanghai, P.R. China Name of auditor Jimmy Leung Kwok Wai Principal place of 20 Pedder Street, Central, signed: business in Hong Hong Kong Kong: INFORMATION DISCLOSURE CHANNELS AND PLACES WHERE THE INTERIM REPORT IS AVAILABLE Newspapers for information disclosure (A share) China Securities Journal, Shanghai Securities News, Securities Times Designated website for information disclosure (A share) Website of the SSE at www.sse.com.cn Designated website for information disclosure (H share) Website of HKEx News at www.hkexnews.hk Place where the interim report is available Board of Directors Office of the Bank 4 Bank of Communications Co., Ltd. CORPORATE INFORMATION (CONTINUED) AUTHORIZED REPRESENTATIVES Hou Weidong, Gu Sheng LEGAL ADVISORS PRC legal advisor: Grandall Law Firm Hong Kong legal advisor: DLA Piper Hong Kong SHARE REGISTER AND TRANSFER OFFICE A Share: China Securities Depository and Clearing Corporation Limited, Shanghai Branch 3/F, China Insurance Building, No. 166 Lujiazui Dong Road, Pudong New District, Shanghai, P.R. China H Share: Computershare Hong Kong Investor Services Limited Flat 1712-1716, 17th Floor, Hopewell Center, 183 Queen’s Road East, Wanchai, Hong Kong OTHER INFORMATION Unified social credit code: 9131000010000595XD Interim Report 2018 H Share 5 FINANCIAL HIGHLIGHTS The Group adopted new standards of financial instruments from 1 January 2018. As permitted by the transitional provisions of new standards, the Group did not restate comparative figures. Any adjustments to the carrying amounts at the date of transition were recognised in the opening retained earnings and other reserves. For the related impact, please refer to 2.2.1 Changes in accounting policies of 2 Summary of Significant Accounting Policies in Interim Financial Statements and Review Report. As at the end of the Reporting Period, key financial data and financial indicators prepared by the Group under International Financial Reporting Standards (the “IFRSs”) are as follows: (in millions of RMB unless otherwise stated) Increase/ January to January to (decrease) Key financial data June 2018 June 2017 % Net interest income1 60,658 61,333 (1.10) Profit before tax 47,470 47,355 0.24 Net profit (attributable to shareholders of the Bank) 40,771 38,975 4.61 Earnings per share (attributable to shareholders of the Bank, in RMB yuan)5 0.51 0.49 4.08 Increase/ 30 June 31 December (decrease) 2018 2017 % Total assets 9,322,707 9,038,254 3.15 Including: Loans and advances to customers1 4,793,965 4,579,256 4.69 Total liabilities 8,652,646 8,361,983 3.48 Including: Due to customers1 5,732,928 5,545,366 3.38 Shareholders’ equity (attributable to shareholders of the Bank) 663,653 671,143 (1.12) Net assets per share (attributable
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