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Interim Report 2017

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Interim Report 2017 Bank of China Limited Interim Report 2017 INTERIM REPORT Stock Code: 3988 / 4601 No. 1 Fuxingmen Nei Dajie, Beijing, China, 100818 Tel: (86) 10-6659 6688 Fax: (86) 10-6601 6871 Customer Service and Complaint Hotline: (86) Area Code-95566 http://www.boc.cn Bank of China Limited (a joint stock company incorporated in the People’s Republic of China with limited liability) Ordinary H-Share Stock Code: 3988 Offshore Preference Share Stock Code: 4601 Contents Definitions 2 Important Notice 3 Corporate Information 4 Financial Highlights 5 Overview of Operating Performance 7 Management Discussion and Analysis 9 Financial Review 9 Business Review 19 Risk Management 39 Social Responsibilities 48 Outlook 49 Changes in Share Capital and Shareholdings of Shareholders 50 Directors, Supervisors, Senior Management Members and Staff 53 Corporate Governance 56 Significant Events 59 Report on Review of Interim Financial Information 63 Interim Financial Information 64 Definitions In this report, unless the context otherwise requires, the following terms shall have the meanings set out below: The Bank/the Group Bank of China Limited or its predecessors and, except where the context otherwise requires, all of the subsidiaries of Bank of China Limited Articles of Association The performing Articles of Association of the Bank A Share Domestic investment share(s) in the ordinary share capital of the Bank, with a nominal value of RMB1.00 each, which are listed on SSE (Stock Code: 601988) Basis Point (Bp, Bps) Measurement unit of changes in interest rate or exchange rate. 1 basis point is equivalent to 0.01 percentage point BOC Aviation BOC Aviation Limited, a public company limited by shares incorporated in Singapore under the Singapore Companies Act, the shares of which are listed on the Hong Kong Stock Exchange BOC Insurance Bank of China Insurance Company Limited BOC Life BOC Group Life Assurance Co., Ltd. BOCG Insurance Bank of China Group Insurance Company Limited BOCG Investment Bank of China Group Investment Limited BOCHK Bank of China (Hong Kong) Limited, an authorised financial institution incorporated under the laws of Hong Kong and a wholly-owned subsidiary of BOCHK (Holdings) BOCHK (Holdings) BOC Hong Kong (Holdings) Limited, a company incorporated under the laws of Hong Kong and the ordinary shares of which are listed on the Hong Kong Stock Exchange BOCI BOC International Holdings Limited BOCIM Bank of China Investment Management Co., Ltd. BOCI China BOC International (China) Limited BOC-Samsung Life BOC-Samsung Life Ins. Co., Ltd. CBRC China Banking Regulatory Commission Central and Southern China The area including, for the purpose of this report, the branches of Henan, Hubei, Hunan, Guangdong, Shenzhen, Guangxi and Hainan Company Law The Company Law of PRC CSRC China Securities Regulatory Commission Domestic Preference Share Domestic preference share(s) in the preference share capital of the Bank, with a nominal value of RMB100 each, which are traded on SSE (Stock Code: 360002, 360010) Eastern China The area including, for the purpose of this report, the branches of Shanghai, Jiangsu, Suzhou, Zhejiang, Ningbo, Anhui, Fujian, Jiangxi, Shandong and Qingdao HKEX Hong Kong Exchanges and Clearing Limited 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 H Share Overseas-listed foreign investment share(s) in the ordinary share capital of the Bank, with a nominal value of RMB1.00 each, which are listed on the Hong Kong Stock Exchange and traded in Hong Kong dollars (Stock Code: 3988) Independent Director Independent director under the listing rules of SSE and the Articles of Association, and independent non-executive director under the Hong Kong Listing Rules MOF Ministry of Finance, PRC Northeastern China The area including, for the purpose of this report, the branches of Heilongjiang, Jilin, Liaoning and Dalian Northern China The area including, for the purpose of this report, the branches of Beijing, Tianjin, Hebei, Shanxi, Inner Mongolia and the Head Office Offshore Preference Share Offshore preference share(s) in the preference share capital of the Bank, with a nominal value of RMB100 each, which are listed on the Hong Kong Stock Exchange and traded in US dollars (Stock Code: 4601) PBOC The People’s Bank of China, PRC PRC The People’s Republic of China RMB Renminbi, the lawful currency of PRC SFO Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) SSE The Shanghai Stock Exchange Western China The area including, for the purpose of this report, the branches of Chongqing, Sichuan, Guizhou, Yunnan, Shaanxi, Gansu, Ningxia, Qinghai, Tibet and Xinjiang 2 Bank of China Limited 2017 Interim Report Important Notice The Board of Directors, the Board of Supervisors, directors, supervisors and senior management members of the Bank warrant that the information in this report is authentic, accurate and complete, contains no false record, misleading statement or material omission, and jointly and severally accept full responsibility for the information in this report. The 2017 Interim Report and the 2017 Interim Results Announcement of the Bank have been reviewed and approved at the meeting of the Board of Directors of the Bank held on 30 August 2017. The number of directors who should attend the meeting is eleven, with eleven directors attending the meeting in person. Eleven directors of the Bank exercised their voting rights at the meeting. Some supervisors and senior management members of the Bank attended the meeting as non-voting attendees. The 2017 interim financial statements prepared by the Bank in accordance with Chinese Accounting Standards (“CAS”) and International Financial Reporting Standards (“IFRS”) have been reviewed by Ernst & Young Hua Ming LLP and Ernst & Young in accordance with the Chinese and international standards on review engagements, respectively. Chairman of the Board of Directors CHEN Siqing, Executive Vice President responsible for the Bank’s finance and accounting ZHANG Qingsong and General Manager of the Accounting and Information Department ZHANG Jianyou warrant the authenticity, accuracy and completeness of the financial statements in this report. During the reporting period, there was no misappropriation of the Bank’s funds by its controlling shareholder or other related parties for non-operating purposes and no material guarantee business that violated the applicable regulations and procedures. This report may contain forward-looking statements that involve risks and future plans. These forward-looking statements are based on the Bank’s own information and information from other sources the Bank believes to be reliable. They relate to future events or the Bank’s future financial, business or other performance and are subject to a number of factors and uncertainties that may cause our actual results to differ materially. Any future plans mentioned do not constitute a substantive commitment by the Bank to its investors. Investors and people concerned should be fully aware of the risks and understand the differences between plans, forecast and commitment. The Bank is faced with risks arising from changes in the macroeconomic environment and from political and economic conditions in different countries and regions as well as risks arising from its day-to-day operations, including the risk arising from changes in the credit status of borrowers, adverse changes in market prices and operational risk. It shall at the same time meet regulatory and compliance requirements. The Bank actively adopts various measures to effectively manage all types of risks. Please refer to the section “Management Discussion and Analysis — Risk Management” for details. Bank of China Limited 2017 Interim Report 3 Corporate Information Registered Name in Chinese Registered Capital 中國銀行股份有限公司 (“中國銀行”) RMB294,387,791,241 Registered Name in English Securities Information BANK OF CHINA LIMITED (“Bank of China”) A Share Shanghai Stock Exchange Legal Representative and Chairman Stock Name: 中國銀行 CHEN Siqing Stock Code: 601988 Secretary to the Board of Directors and H Share Company Secretary The Stock Exchange of Hong Kong Limited GENG Wei Stock Name: Bank of China Office Address: Stock Code: 3988 No. 1 Fuxingmen Nei Dajie, Beijing, China Telephone: (86) 10-6659 2638 Domestic Preference Share Facsimile: (86) 10-6659 4568 Shanghai Stock Exchange E-mail: [email protected] First Tranche Stock Name: 中行優1 Listing Affairs Representative Stock Code: 360002 YU Ke Office Address: Second Tranche No. 1 Fuxingmen Nei Dajie, Beijing, China Stock Name: 中行優2 Telephone: (86) 10-6659 2638 Stock Code: 360010 Facsimile: (86) 10-6659 4568 E-mail: [email protected] Offshore Preference Share The Stock Exchange of Hong Kong Limited Registered Address Stock Name: BOC 2014 PREF No. 1 Fuxingmen Nei Dajie, Beijing, China Stock Code: 4601 Office Address A-Share Registrar No. 1 Fuxingmen Nei Dajie, Beijing, China, 100818 Shanghai Branch of China Securities Telephone: (86) 10-6659 6688 Depository and Clearing Corporation Limited Facsimile: (86) 10-6601 6871 36/F, China Insurance Building, Website: http://www.boc.cn 166 East Lujiazui Road, E-mail: [email protected] Pudong New Area, Customer Service and Complaint Hotline: Shanghai (86) Area Code-95566 Telephone: (86) 21-3887 4800 Place of Business in Hong Kong H-Share Registrar Bank of China Tower, 1 Garden Road, Central, Computershare Hong Kong Investor Services Limited Hong Kong
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