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Economic Environmentenvironment Investor Presentation 3Q 2017 Your Success is our Business Legal Disclaimer This presentation and the information contained herein as well as the materials distributed herewith ("Presentation") are the sole and exclusive property of China Banking Corporation (“China Bank”) and shall only be used for the purpose intended herein. None of the information contained in this Presentation constitutes a solicitation, offer, opinion, or recommendation by China Bank to buy or to sell any securities or financial instrument or to provide any investment service or investment advice. The information contained in this Presentation is based on carefully selected sources believed to be reliable but no representation or warranty as to its accuracy or completeness is made. All statements in this Presentation, other than statements of historical facts, that address activities, events, or developments that China Bank expects or anticipates will or may occur in the future (including but not limited to projections, targets, estimates and business plans) are forwardlooking statements. China Bank’s actual results or developments may differ materially from those expressed or implied in these forward-looking statements as a result of various factors and uncertainties, including but not limited to price fluctuations, actual demand, exchange rate fluctuations, market shares, competition, changes in legal, financial and regulatory frameworks, international economic and financial market conditions, political risks, cost estimates, and other risks and factors beyond our control. Your use of the Presentation shall be at your sole risk and you shall form your own conclusions as to the reliability of any information presented and as to any conclusions to be drawn therefrom. China Bank shall not be directly or indirectly liable, in any way, for any inaccuracies, errors, or omissions in the Presentation , including but not limited to any quotes or financial data contained therein, nor for any damages resulting therefrom. Any opinion/data/forward-looking statements herein reflected may be subject to change by China Bank without notice. Investor Relations: Investor Relations (IR) Team: 28/F, BDO Equitable Tower, 8751 Paseo de Roxas, Makati City Alexander C. Escucha Philippines, 1226 Senior Vice President [email protected] Phone: (632) 885-5601 Fax: (632) 892-0238 Aerol Paul B. Banal, SM Email: [email protected] Vicky N. Quisido, AM Website: www.chinabank.ph [email protected] 1 Presentation Outline EconomicEconomic EnvironmentEnvironment Company Profile Key Investment Merits Corporate and Financial Highlights 2 Economic Environment— Philippines Philippine GDP 8.0% 7.0% 6.0% Philippine Economy on Higher Growth Trajectory 5.0% The Philippines shows solid economic 4.0% performance amidst global economic turbulence. 3.0% 2.0% With increasing investment rate and young and educated workforce, there is sufficient scope 1.0% for potential growth to rise further, aided by 0.0% greater capital formation. 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Q32017 The current administration aims for a steady acceleration of growth (7.0-8.0%) supported by 90 7.0% sustained and deepened structural reforms. 80 83 6.0% 79 Reforms include comprehensive tax reform, 70 75 72 5.0% sustained investment in infrastructure, human 69 60 65 62 62 capital development, easing of restrictions on 50 57 58 58 4.0% foreign investments 40 3.0% Thousands 30 2.0% 20 1.0% 10 - 0.0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Q32017 GDP per Capita (Php '000) Growth Rate 3 Economic Environment— Philippines BPO - a strong driver of employment and revenues… 50.0 1,800 2,000 9.0% 66.0% 8.0% 40.0 1,600 65.0% 7.0% 1,148 6.0% 64.0% 1,044 30.0 958 1,200 5.0% 858 777 63.0% 4.0% 20.0 640 800 38.9 8.0% 7.5% 527 7.4% 7.4% 7.3% 7.1% 7.0% 7.0% 3.0% 6.8% 62.0% 424 371 6.3% 298 22.9 5.5% 10.0 236 20.5 400 2.0% 15.8 18.0 11.0 13.2 61.0% 4.5 6.1 7.1 8.9 1.0% 3.4 - - 0.0% 60.0% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2022F 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Revenues (US$ Bn) Employment ('000s) Unemployment Rate Labor Participation Rate Sustained growth of OFW remittance over the years… 30.0 25% 20% 25.0 20% 20.0 13% 13% 15% 15.0 9% 7% 10% 7% 6% 7% 10.0 5% 4% 5% 5.0 5% 12.8 14.5 16.4 17.3 18.8 20.1 21.4 23.0 24.6 25.6 26.8 - 0% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 OFW Remittance (US$ Bn) Growth Rate 4 Economic Environment— Philippine Banking Industry 5 Competitive Landscape Private Banks – CHIB No 6 in Assets, No 5 in Loans, Deposits ASSETS LOANS (Net) DEPOSITS CAPITAL ROE Institution Amt Mkt Share Amt Mkt Share Amt Mkt Share Amt Mkt Share Jan-Sep Jan-Sep Branches (Sep 2017) (in P Bn) (%) (in P Bn) (%) (in P Bn) (%) (in P Bn) (%) '17 '16 BDO 2,593 18.17% 1,730 21.30% 2,090 18.97% 294 19.24% 10.11% 12.59% 1,157 MBT 1,988 13.93% 1,175 14.47% 1,475 13.39% 211 13.80% 8.66% 8.49% 955 BPI 1,794 12.57% 1,130 13.92% 1,506 13.67% 176 11.52% 13.10% 14.70% 850 PNB 807 5.65% 467 5.76% 612 5.55% 110 7.17% 5.30% 7.00% 689 SECB 795 5.57% 366 4.50% 431 3.91% 101 6.62% 9.83% 11.27% 297 CHIB 693 4.85% 430 5.29% 578 5.25% 82 5.38% 10.41% 10.47% 569 UBP 547 3.83% 263 3.24% 438 3.97% 66 4.33% 12.20% 17.30% 313 RCBC 526 3.69% 336 4.14% 375 3.40% 65 4.24% 7.16% 7.82% 503 EW 315 2.21% 211 2.60% 257 2.33% 37 2.44% 13.80% 9.60% 447 Gov't Banks 2,041 14.30% 872 10.74% 1,675 15.20% 149 9.73% LBP 1,481 10.37% 599 7.38% 1,306 11.86% 102 6.66% DBP 560 3.92% 273 3.36% 368 3.34% 47 3.05% Foreign Banks 1,133 7.93% 655 8.06% 716 6.50% 125 8.15% Other Local Banks 1,043 7.30% 485 5.97% 865 7.85% 113 7.38% TOTAL 14,275 100% 8,120 100% 11,017 100% 1,531 100% Source: Published SOCs except China Bank (based on Audited figures, PFRS) 1/ ROE based on SEC-17Q Report 6 Presentation Outline Economic Environment CompanyCompany ProfileProfile Key Investment Merits Corporate and Financial Highlights 7 Snapshot of China Bank Long history as the oldest privately owned bank in the Philippines, established in 1920 Listed since the establishment of the Exchange by 1927 Strong presence in the entrepreneur, middle market and business segments Longest relationship with Chinese-Filipinos, serving this community up to the 4th generation 8 Primary Business A. Deposits & Related Services B. Internet Banking and Mobile Banking Services (Retail & Corporate) Corporate Consumer Wealth Management Corporate, Commercial & SME Consumer loans Trust and asset lending (mortgages, vehicle, management personal, teacher loans) Cash management Credit cards Wealth management, Private Banking Factoring Remittances Life insurance and investments (MCBLife) Investment Banking (China Bank Capital Corp), securities brokerage (China Bank Securities Corp) Treasury and Foreign Exchange Trading Non life insurance (China Bank Insurance Brokerage) 9 Bank Milestones Expand portfolio in SME, MME and Consumer segments further enhanced by recent strategic acquisitions 1920 1927 2007 2012 2013 2014 2015 2016 Listed in Manila Stock Exchange Increased stake in China Bank JV to 40% Securities Corp Acquired Manila Bank with 75 branch licenses and renamed to Acquisition Bancassurance joint venture with 5% stake 10 Bank Strategy – Continued Network Expansion As of Sept 2017 China No. of China Bank % Share Branches Bank Savings Total Total Metro 221 76 297 52% Manila Luzon 100 68 168 30% Visayas 55 9 64 11% Mindanao 35 5 40 7% Total 411 158 569 100% 900 865 805 800 CHIB CBS 740 661 700 PDB ATM 561 600 511 561 475 517 541 431 500 383 445 470 158 366 376 150 361 78 165 400 78 276 316 293 78 250 269 72 300 33 216 25 188 2 16 141 200 148 1 391 411 1 352 283 295 314 248 253 268 100 187 215 141 148 0 2004 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Sep-17 11 Comprehensive Financial Services Platform China Bank’s organization anchored on three engines of growth: 1 2 3 Savings Bank & Other Relationship Banking Financial Markets Business Units Retail Banking Lending China Bank Business Segment Treasury Savings, Inc. - SME Institutional China Bank - Consumer Banking Capital Corp Manulife- - Corporate - Investment Banking China Bank - Commercial China Bank Life Assurance Securities Corp Corporation - Securities Brokerage (MCBLife) China Bank Consumer Wealth Insurance Banking Management Brokers, Inc. - Housing/Auto - Remittance - Credit Card Trust 12 Presentation Outline Economic Environment Company Profile KeyKey InvestmentInvestment MeritsMerits Corporate and Financial Highlights 13 Key Investment Merits 1 Established strength in affluent Chinese-Filipino business segment 2 Strong balance sheet with sustainable growth 3 Diversified and well collateralized loan portfolio 4 Improving asset quality and loan loss coverage 5 Funding – strong brand franchise / retail base 6 Healthy capital position Well diversified income stream, effective cost management , growing distribution 7 network supported by robust infrastructure 8 Sustained delivery of shareholder returns 9 Strong Support from Shareholders and Synergies with the SM Group 10 Experienced and competent management team 14 1 Established Strength in Affluent Chinese-Filipino Business Segment Loyal and highly valuable customer Predominantly focused on the base SME/MME segments Multi-generational relationships Agile and entrepreneurial mindset Sustainable and profitable niche client relationships 15 2 Strong Balance Sheet with Sustainable Growth Organic growth and strategic acquisitions Total Assets (PHP in B) 633 693 527 565 88 83 471 414 80 76 324 15 21 257 262 9 605 4 550
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