Habib Bank AG Zurich
Annual Report 2015
Habib Bank AG Zurich
Table of contents
Group ke i ure 2 etter ro the hair an an the re i ent Habib Bank AG Zurich the Group 5 Group or ani ation tructure irector report
Group inancial tate ent Balance heet 12 nco e tate ent 1 a h lo tate ent 1 tate ent o chan e in e uit 1 ote to the con oli ate inancial tate ent 20 planation o ri k ana e ent 2 Report o the tatutor Au itor 52
Bank inancial tate ent Balance heet 5 nco e tate ent 5 tate ent o chan e in e uit 5 Appropriation o pro it co era e o lo e other i tribution Report o the tatutor Au itor
A re e 5
1 Habib Bank AG Zurich
Group key figures*
in H illion 31.12.11 31.12.12 31.12.13 31.12.14 31.12.15 Balance sheet otal a et 5 50 2 0 10 5 harehol er e uit 1 0 1 000 A ance 2 5 2 51 2 1 0 1 5 epo it 2 01
Income statement otal inco e2 05 2 25 1 2 peratin e pen e 151 15 1 5 1 1 1 0 peratin re ult 10 2 55 1 20 1 2 Group pro it lo 1 0 2 2
otal a et in H illion harehol er e uit 1 in H illion A ance in H illion epo it in H illion
1 000 0 12000 1000 500 3'195 10000 10'583 0 8'696 0 2 1 01 000 2 5 10000 000 5 00 2 51 50 2 2500 2 000 00 2000 000 000 1500 00 000 000 1000 200 2000 2000 500
0 0 0 0 2011 2012 201 201 2015 2011 2012 201 201 2015 2011 2012 201 201 2015 2011 2012 201 201 2015
otal inco e 2 in H illion peratin e pen e in H illion peratin re ult in H illion Group pro it lo in H illion
194.0 100 500 200 1 5 1 1 250 88.2 1 397.2 15 20 151 00 200 0 150 05 1 2 148.2 00 25 150 0 100 10 2 0 0 200 100 2 55 1 50 100 50 20
0 0 0 0 2011 2012 201 201 2015 2011 2012 201 201 2015 2011 2012 201 201 2015 2011 2012 201 201 2015
ecti e 1 anuar 201 the Group a opte the ne accountin principle in accor ance o A ircular 2015 1 Accountin Bank
1 cl inorit intere t in e uit an in Group pro t lo
2 nclu in Gro re ult ro intere t operation Re ult ro co i ion bu ine an er ice Re ult ro tra in acti itie an the air alue option an ther re ult ro or inar acti itie
2 GROUP Habib Bank AG Zurich
31.12.11 31.12.12 31.12.13 31.12.14 31.12.15 Key figures and ratios u ber o o ce 1 21 25 2 15 u ber o e plo ee 0 2 1 0 5 Return on e uit R 1 0 2 0 uit ratio 12 0 12 1 1 12 11 o t inco e ratio 55 0 2 52 otal capital ratio 2 1 21 21 0 1 5 1
u ber o o ice u ber o e plo ee Return on e uit R 1
4'779 50 5000 7.3% 315 5 0 1 0 00 2 2 25 000 0 250 21 1 5 200 000 0 150 2 2000 100 2 1000 50 1 0 0 0 2011 2012 201 201 2015 2011 2012 201 201 2015 2011 2012 201 201 2015
uit ratio o t inco e ratio otal capital ratio 2
15 0 25 1 1 0 21 12 12 21 0 12 0 11.6% 0 1 1 5 19.9% 12 20 0 55 52.9% 50 2 15 0 0 10 20 5 10 0 0 0 2011 2012 201 201 2015 2011 2012 201 201 2015 2011 2012 201 201 2015
1 Group pro t lo a percenta e o e uit o a era e at ear en 201 an 2015
2 ince 1 anuar 201 capital a e uac ha been eter ine in accor ance ith the tan ar in the Ba el Accor
GROUP Habib Bank AG Zurich
Letter from the Chairman and the President
t i our plea ure to pre ent ou ith the th annual report o Habib Bank AG Zurich ba e on the ne accountin principle i ue b the i inancial arket uper i or Authorit
B the race o Go Habib Bank AG Zurich eli ere oo re ult in 2015 hile aintainin a tron capital ba e an hi h li ui it he Habib Group aintaine it con er ati e len in polic ith a hi h e ree o i cipline hi polic i characteri e b a hi h percenta e o ull ecure an relati el hort ter len in A a re ult a ance to client ecrea e to o epo it recei e ro client he re ainin li ui it a place in the interbank arket or in e te in in e t ent ra e bon
urin 2015 e ber o the Boar o irector bi are ell to r lrich Grete ho ha er e not onl a it ice hair an but a e ber or o er ear e thank hi or hi pro e ional an er co petent con tribution a e o er the ear A o 20 April 2015 r eiler replace r lrich Grete a ice hair an an r tephan haler oine our Boar o irector a a ne e ber on the a e a e i h the all ell or the uture
he Boar o irector ha propo e that out o the pro it or the ear en e 1 ece ber 2015 an a carr o er pro it ro la t ear a in up to a i tributable a ount o H 2 0 the ollo in appropria tion houl be a e
Allocation to tatutor retaine earnin re er e H 1 00 000 Allocation to oluntar retaine earnin re er e H 15 000 000 i ribution o i i en ro i tributable pro it H 1 000 000 ro it an lo carrie or ar H 2 0
e oul like to thank our client or their lo alt to Habib Bank AG Zurich an or the tru t the place in u in 2015 e al o i h to thank all our e plo ee or their on oin co it ent an contribution to the ucce o Habib Bank AG Zurich
r An rea n lin er uha a H Habib hair an o the Boar o irector re i ent
Habib Bank AG Zurich
Habib Bank AG Zurich - the Group
Habib Bank AG Zurich hereina ter the Bank a incorporate in it erlan in 1 an i pri atel o ne
he Habib a il ha been acti el in ol e in bankin or o er 1 0 ear o a il e ber r uha a H Habib re i ent an r oha e ali R Habib oint re i ent are e ber o the General ana e ent ther e ber o the a il are currentl orkin their a up throu h the ana e ent ra e
he tra itional alue o the Habib a il are tru t inte rit re pect er ice an co it ent
he Bank ha it Hea ice an operation in Zurich an branche in the nite in o ith e ect ro 1 April 201 all a et an liabilitie o the nite in o branch ill be tran erre to the ub i iar Habib Bank Zurich lc on on the nite Arab irate an en a he Bank hol i e holl o ne ub i iarie Habib Bank Zurich lc on on Habib ana ian Bank ana a HBZ Bank i ite outh A rica Habib uropean Bank t le o an an HBZ er ice Z nite Arab irate he Bank hol a 51 o ner hip intere t in Habib etropolitan Bank t aki tan an Habib Bank Zurich Hon on t Hon on collecti el the Group
he Bank an the Group are ub ect to the con oli ate uper i ion o the i inancial arket uper i or Authorit A he Group ha a tron capital ba e an li ui it ratio abo e in u tr tan ar an bene it ro the political an econo ic tabilit o ha in it Hea ice in it erlan urther ore the Group ha clo e co operation ith the ariou re ulator bo ie an central bank in the countrie in hich the Group operate
he Group place a hi h e pha i on per onal er ice in the countrie in hich it operate he branche an ub i iarie co er nine countrie prea o er our continent A o the en o 2015 e plo ee prea o er 15 o ice are trate icall ituate to pro i e a i u a i tance to our local an international clien tele he Group i acti e in co ercial bankin retail bankin tra e inance bu ine ealth ana e ent an la ic bankin
5 Habib Bank AG Zurich
Group organisation structure
Board of Directors
he Boar o irector o the Bank i a e up o non e ecuti e an in epen ent irector all o ho ha e e ten i e e perience in their re pecti e iel o co petence
Risk & Control Name Born Citizenship Board of Directors Audit Committee Committee r An rea n lin er 1 5 i hair an r lrich Grete 1 2 i ice hair an e ber r eiler 1 i ice hair an e ber e ber Ra Barne 1 5 Briti h e ber e ber r arco u 1 i e ber hair an r ula uter 1 5 i e ber hair o an r tephan haler 1 2 i e ber e ber until 20 April 2015 until 20 April 2015 e ber an ro 20 April 2015 ice hair an o Boar o irector ro 20 April 2015
General Management
General ana e ent con i t o t o e ber o the Habib a il an one non a il e ber he a orit o the e ber o General ana e ent ha e re i enc in it erlan
Name Born Citizenship Function uha a H Habib 1 5 i re i ent an Hea o arket er ea oha e ali R Habib 1 ana ian oint re i ent an Hea o arket A ia pecial er ice haun alli 1 55 Briti h e ber o General ana e ent an Hea o Global peration alter athi 1 1 i e ber o General ana e ent an Hea o hare er ice until 0 ai 2015
Management of the branch network
Name Born Citizenship Function Country hri tian erch 1 5 i ountr ana er it erlan ro oora hou hr 1 Briti h ountr ana er nite in o Ari akhani 1 5 aki tani ountr ana er nite Arab irate oha a Ali Hu ain 1 5 en an ountr ana er en a
GROUP Habib Bank AG Zurich
Management of the subsidiaries
Name Born Citizenship Function Country u li Ha an 1 55 ana ian hie ecuti e icer ana a Za ar han 1 52 outh A rican hie ecuti e icer outh A rica oha e a ri 1 51 Briti h hie ecuti e icer le o an Ati u ti 1 aki tani hie ecuti e icer nite Arab irate ira u in A i 1 5 aki tani hie ecuti e icer aki tan kra urai hi 1 A hie ecuti e icer Hon on HBZ er ice Z
Group Internal Audit
Name Born Citizenship Function Haroon Ah a 1 5 aki tani Hea o Group nternal Au it
Group Support Functions
Name Born Citizenship Function air hau har 1 Briti h Group hie peratin icer A nan a ih 1 aki tani Hea o Group la ic Bankin eli Ga er 1 5 i Hea o Group Ri k ontrol r it at Hu ain 1 aki tani Hea o Group Hu an Re ource r a cal an 1 i Hea o Group e al o pliance Al re er 1 2 i Hea o Group inancial ontrol Ati u ti 1 aki tani Hea o Group peration a illai 1 2 n ian Hea o Group n or ation echnolo Ha a Ala u een 1 n ian ibel anu 1 5 urki h Hea o Group inancial n titution Ralph chnei er 1 i Hea o Group re it
GROUP Habib Bank AG Zurich
Directors' report
Economic environment re uce international co petiti ene o the coun tr e port in u trie he lobal econo e perience another ear o o erate ro th an e pite hi hl acco o a he nite Arab irate ere al o able to aintain ti e central bank policie the rate o e pan ion ecent ro th albeit at a eceleratin pace a lo er in o t a ance econo ie re aine belo their oil price a ecte eneral bu ine acti it he o lon ter a era e e hea in e er e in the ern ent a orce to re uce public e pen iture cour e o the ear ainl in the or o the un an to con i er e pan in it inco e ource ith relentin ecline o co o it price an lo in the po ible intro uction o a eneral corporate ta tructural ro th in hina he e e elop ent an a alue a e ta hile e ort to i er i the particularl a ecte an co o it e portin econo helpe to li it the hort ter i pact the e er in econo ie an contribute to capital out e iu ter pro pect beca e uch ore uncer lo an i e prea currenc eakne apital tain urin the cour e o the ear ublic enti ent out lo ere partiall oti ate b e pectation eteriorate a ectin a on other thin the lar e or hi her rate hich ateriali e in e an i portant real e tate ector oreo er ith the ce ber hen the e eral Re er e increa e A pe e a ain t the the countr ace it tar et rate or the ir t ti e ince 200 n la hi her intere t rate hen it a lea t elco e tionar pre ure re aine ub ue in o t econo ie ith the e ception o tho e hich u ere A nu ber o o e tic an lobal hea in bu ete lar e epreciation he uropean entral Bank the outh A rican econo urin 2015 he pre B intro uce it o n uantitati e ea in pro ure on co o it price an a eneral retreat ro ra earl in the ear in or er to co bat lin erin e er in arket hit the econo har an the ZAR e lation ri k lo t a uarter o it alue he o ern ent o outh A rica ean hile a unable to ake i ni icant A on the Bank lar e t arket aki tan en o e pro re in a re in the or enin bottleneck in b ar the hi he t ro th in 2015 ith a rate o the ener ector he replace ent o a ell re pect e pan ion ell abo e in real ter Gro th e ini ter o inance late in the ear tri ere a upporte b the o ern ent e ort to i ple a a or con i ence cri i hich a onl partl ent the on oin a ree ent he launch o e u e hen the o ern ent a en e it eci ion the hina aki tan cono ic orri or a a a or oor econo ic o ernance rai e the pectre that the ile tone or the e elop ent o the countr ith countr a lo e it in e t ent ra e ratin o er the potential o li tin the lon ter ro th b e the e iu ter ace ith ri in in lation an eral percenta e point thank to better in ra tructure a plu etin currenc the outh A rican Re er e an i pro e ener uppl he o erall po iti e Bank ti htene it polic e eral ti e e pite lo econo ic en iron ent bene ite urther ro the an i appointin ro th loo er onetar polic o the tate Bank o aki tan B that lo ere ke rate to an all ti e lo a Real G ro th in the lo e in the cour e in lation ecline ith harpl lo er oil price he o 2015 to li htl abo e 2 annuall but till le t lo er oil bill helpe to contain the current account the econo a one o the top per or er in the G e icit hich re aine ell inance thank to a Go ern ent pen in cut a lo o n in con truc nu ber o ultilateral loan an ne international tion in e t ent an lo er e port ere the ain bon i ue A polic to aintain e chan e rate cau e or lo er acti it Hou in price al o o tabilit allo e the B to accu ulate a recor erate ro the ouble i it ro th recor e in the a ount o currenc re er e an to urther tabili e pre iou ear erall onetar con ition ti htene e ternal account albeit at the e pen e o harpl ue to the relati e tren th o the tra e ei hte
GROUP Habib Bank AG Zurich
GB e en thou h the Bank o n lan re raine Banking sector ro rai in it ke polic rate or another ear in the ab ence o i ni icant in lationar pre ure he econo ic conte t or the lobal bankin in u tr a arke b u taine e tre el lo le el o he i ational Bank a e a urpri e eci ion intere t rate in the e elope orl nl rate to en the H 1 20 loor rate a ain t R in o e hi her in anticipation o a hi her e rate i anuar he re ultin harp appreciation o hi opene a iel ap that a ore the a ain t the currenc a ho e er ab orbe ore uickl o t other currencie throu hout the ear ro the than initiall e pecte an e portin co pa late u er on ar increa in inancial arket nie inclu in bank reacte pro ptl b cuttin olatilit in re pon e to chan e to the hine e the co t ba e thereb li itin the i pact on their currenc re i e o inate e ent lea in to a e ternal co petiti ene e erthele the i pike o ri k a er ion an in particular pre ure on econo a a hole continue to tru le in the ace e er in arket a et he harp ecline o co o an o er alue currenc an ea re ro th in the o it price i pacte the acti it o oil pro ucer core uropean arket an e porter ho ere hit b lo er ca h lo an hi her cre it co t A on the aller arket the en an econo are be t thank to a bitiou o ern ent in e t ren in cre it ro th ere enerall po iti e in ent pro ect hich aintaine real annual ro th o t a ance econo ie inclu in in the euro one abo e 5 Ho e er lobal ri k a er ion an lar e here loan ro th ha pre iou l been hel back b e icit o both the bu et an current account put ele era in an hrinkin balance heet en in i ni icant o n ar pre ure on the that e er in econo ie uch a outh A rica an A orce the entral Bank o en a to ub tantiall hich u ere ro lo er co o it price cre it increa e polic rate ro th re aine in the hi h in le i it Bankin acti it al o re aine robu t in aki tan but lo er Hon on u ere ro ub tantiall eaker arket intere t rate co pre e the bank net e an ro ainlan hina ainl re lecte in intere t ar in lo er retail ale an touri t arri al hile pri ate con u ption continue to ro at a ecent pace the ri ate bankin an ealth ana e ent re aine hou in arket ho e ir t i n o a lo o n a ro th bu ine Here a ain ho e er lo er ntere t rate ro e late in the ear in re pon e to co o it price an hi her arket olatilit le t hi her rate a the currenc re aine pe e to their ark a ectin both net ne one lo an the client acti it particularl in the econ hal o the ear e pite the i ni icant hea in ro lo er ana a u ere a il rece ion in earl 2015 econo ic ro th in hina A ia re aine the ke hen the econo contracte un er the i pact o ro th arket or pri ate client bu ine lo er ener price an lo er bu ine in e t ent herea ter acti it reco ere onl lu i hl till eetin ne re ulator re uire ent continue to ha pere b ub ue e an or co o itie be a ain ocu o the in u tr Bank allocate once e en a the Bank o ana a la he it polic rate a ain i ni icant capital an hu an re ource to t ice urin the ear he currenc ecline harpl a re ne an ti hter re ulation acro all bu ine lo in o e 20 o it alue a ain t the acti itie in particular the pon ore auto at ic e chan e o in or ation on ta atter an the A A le i lation At the a e ti e the e er ence o c ber threat orce an bank to har en their in ra tructure
GROUP Habib Bank AG Zurich
Operational performance and outlook e pen e or in or ation technolo teleco uni cation an other operatin e pen e ri en b the Income statement Group branch e pan ion trate
he Group recor e in 2015 a pro it o H 2 il han e in re er e or eneral bankin ri k lion hich repre ent an increa e o H 10 illion a ounte to plu H 0 illion a ain t a inu a ain t 201 o H illion or the pre iou ear re iou ear bookin ollo e a pru ent re er e polic Gro re ult ro intere t operation a ounte to hich con i ere the uncertaint ue to tron H H 2 2 illion hich repre ent a ain an increa e hich a not re uire in 2015 o H illion a ain t the pre iou ear hi e elop ent a ainl ue to an increa e o the he increa e o a e ro H 5 2 illion in balance heet ite A ount ue in re pect o cu 201 up to H 1 illion in 2015 a ri en b to er epo it an ther inancial in tru ent at the i pro e ent o Group pro it air alue he a ter ta return on e uit a at in 2015 he ubtotal re ult ro co i ion bu ine an co pare to 0 in 201 er ice a ounte to H illion hich rep re ent an increa e o H 1 illion a ain t 201 he Group co t inco e ratio increa e ro 2 to 52 Re ult ro tra in acti itie an the air alue option a ounte H 5 illion hich repre Risk assessment ent a ecrea e o H a ain t the pre iou ear hi i erence ainl te ro t o e ent he Boar o irector con ucte a ri k a e ent he pro it on ale o ther inancial in tru ent at o a or ri k e po ure o the Bank an the Group air alue ecrea e co pare to the pre iou ear in 2015 b H 1 1 illion an the con oli ation polic a opte re ulte in an lo a ountin to H 2 Balance sheet illion in 201 an inco e o H illion a accounte or eri in ro the tran lation o inan he balance heet reache H 10 5 2 illion i e cial tate ent o branche an increa e o H 1 illion co pare to 201 hi i ainl ue to the increa e ocu on epo it ubtotal operatin e pen e increa e b H obili ation 15 illion to H 1 0 illion co pare to 201 i ui a et a ounte to H 1 0 2 illion er onnel e pen e increa e b H illion a ain t H 1 0 illion or 201 hich repre co pare to 201 to H 1 1 0 illion he ain ent an increa e o H 101 illion rea on or thi increa e a relate to the increa e in nu ber o e plo ee in ariou countrie A ance i e A ount ue ro cu to er an ort a e loan reache H 1 5 illion he a era e nu ber o e plo ee urin 2015 o a ain t H 0 2 illion in 201 i e a ecrea e the Group a 1 co pare to 2 urin 201 o H 212 illion General an a ini trati e e pen e a ounte to H 0 illion hich repre ent an increa e o ther inancial in tru ent at air alue an H 0 illion a ain t 201 ainl ue to hi her inancial in e t ent a ounte to H 5 1
10 GROUP Habib Bank AG Zurich
illion he increa e a ain t 201 a ount to H tren thenin it o erin to all an e iu en 5 illion he Group in e te a lar e part o terpri e in it erlan epo ite un in local o ern ent paper he eneral intere t rate ecrea e pro i e ub tantial he a or ile tone o the ir t pha e o our Group re aluation pro it on the e in tru ent trate ic lan 201 2020 ha e been ub tantiall achie e he Group Go ernance ra e ork ha A ount ue in re pect o cu to er epo it been urther enhance an a pro ect to i ple ent a reache H 5 illion a ain t H 01 tate o the art nternal ontrol te ha illion or the pre iou ear earl all countrie been initiate an i ple entation b pha e ill be contribute to the increa e o H illion in in 201 he Group Hu an Re ource unction ha been tren thene an ith the no ination o Capital and liquidity our ne Group hie peratin icer the Group n or ation echnolo an the Group n or a he Group ha a tron capital ba e a ell a a hi h tion echnolo Ri k unit ha e been reor ani e li ui it ratio to better a re uture challen e ro 201 on ar the Group ill be enterin the econ pha e he capital a e uac ratio tan at Bank le el at o the Group trate ic lan 201 2020 2 an at Group le el at 1 an the le el o li ui it co era e ratio a ount at Bank le el to Outlook 1 an at Group le el to 1 he le era e ratio achie e at Bank le el a 12 an at Group le el he pro re a e urin the ir t pha e o our Group 10 or ore etail ee annual Ba el i clo ure trate ic lan 201 20 ill allo u in the co in ear to ocu on our pro uct o erin client centric he e ratio i ni icantl e cee the re ulator it an arket e pan ion n thi conte t an in con re uire ent i eration o the e ol in nee o our client e ha e eci e to cea e operation o our ub i iar in the le Operations o an in 201 n the other han it i our oal to ur ther e pan our branch net ork in the countrie here urin 2015 e ere able to e pan our net e are alrea pre ent na el aki tan outh A ork ith ne branche in aki tan reachin rica an ana a an e are currentl e aluatin op a total o 2 branche in citie acro the coun tion to urther e pan our ranchi e n aki tan the tr inclu in a branch in G aa ar the port cit o ne l e tabli he RA haria co pliant pro uct the hina aki tan cono ic orri or n en a uite ha pro re e ell an e inten to e pan our 1 ne branch a a e in ali n the nite in o erin o RA to other uitable countrie o e obtaine per i ion ro the RA an A to tran or our branch into a ub i iar e pecte to e ill continue to a re e ol in client e an occur on 1 April 201 n the ir t hal o 2015 our b in e tin in ne technolo ie Ho e er not ith Hon on ub i iar obtaine a re tricte bank li tan in thi e er chan in technolo ical lan cape cen e an it na e a chan e to Habib Bank Zu e re ain con ince that per onal co unication i rich Hon on t a tl our ub i iar in outh the oun ation to lon ter client relation hip A rica prou l celebrate it 20th anni er ar in 2015 e e pect that 201 ill be a challen in ear or the n i ilar a hion to an other i bank our inancial in u tr but e are ell po itione to a re i operation reache an a ree ent ith the the e challen e ith our clear ocu international epart ent o u tice or the a ro ra be ore pre ence tron reputation an client lo alt ear en ur i operation continue to ocu on
GROUP 11 Habib Bank AG Zurich
Balance sheet (before appropriation)
in H 000 ote 31.12.15 31.12.14 Assets i ui a et 1 0 2 15 1 01 A ount ue ro bank 2 0 0 2 0 1 0 0 A ount ue ro ecuritie inancin tran action 1 1 A ount ue ro cu to er 2 2 05 2 2 11 ort a e loan 2 20 5 5 20 ra in port olio a et 0 o iti e replace ent alue o eri ati e inancial in tru ent 0 2 20 1 ther inancial in tru ent at air alue 2 5 1 5 inancial in e t ent 1 1 1 1 125 111 Accrue inco e an prepai e pen e 12 2 12 2 on con oli ate participation an ible i e a et 10 0 2 ntan ible a et 11 2 5 1 0 ther a et 12 52 0 Total assets 10'582'638 9'803'487
12 GROUP Habib Bank AG Zurich
in H 000 ote 31.12.15 31.12.14 Liabilities A ount ue to bank 1 0 2 1 iabilitie ro ecuritie inancin tran action 1 2 A ount ue in re pect o cu to er epo it 5 5 01 2 e ati e replace ent alue o eri ati e inancial in tru ent 10 1 21 Accrue e pen e an e erre inco e 1 2 5 12 5 ther liabilitie 12 5 5 115 ro i ion 15 1 1 22 Re er e or eneral bankin ri k 15 55 1 555 2 Bank capital 150 000 150 000 Retaine earnin re er e 255 1 21 2 urrenc tran lation re er e 1 0 5 inorit intere t in e uit 1 2 1 52 Group pro it lo 22 15 o hich inorit intere t in roup pro it lo 0 22 2 Total liabilities 10'582'638 9'803'487
Off balance sheet transactions ontin ent liabilitie 22 1 1 2 1 1 1 1 rre ocable co it ent 1 5 5 12 re it co it ent 2 212 0 221 2 1
GROUP 1 Habib Bank AG Zurich
Income statement
in H 000 ote 2015 2014 Result from interest operations ntere t an i count inco e 225 2 2 1 ntere t an i i en inco e ro inancial in e t ent 2 5 205 55 ntere t e pen e 2 121 21 Gross result from interest operations 262'714 224'140
han e in alue a u t ent or e ault ri k an lo e ro intere t operation 0 2 1 5 Subtotal net result from interest operations 231'886 209'541
Result from commission business and services o i ion inco e ro ecuritie tra in an in e t ent acti itie 5 10 5 2 o i ion inco e ro len in acti itie 0 2 0 2 2 o i ion inco e ro other er ice 151 o i ion e pen e 5 5 5 55 Subtotal result from commission business and services 76'636 75'634
Result from trading activities and the fair value option 25 56'797 104'539
Other result from ordinary activities Re ult ro the i po al o inancial in e t ent 1 1 5 Re ult ro real e tate 1 0 5 5 0 ther or inar e pen e 2 0 Subtotal other result from ordinary activities 1'094 14'736
1 GROUP Habib Bank AG Zurich
in H 000 ote 2015 2014 Operating expenses er onnel e pen e 2 1 0 121 General an a ini trati e e pen e 2 012 5 1 Subtotal operating expenses -194'005 -178'327
alue a u t ent on participation epreciation an a orti ation on tan ible i e an intan ible a et 12 11 5 han e to pro i ion an other alue a u t ent an lo e 11 5
Operating result 148'176 207'797
traor inar inco e 2 12 2 5 traor inar e pen e 2 2 1 han e in re er e or eneral bankin ri k 20 a e 0 1 12 5 1
Group profit / loss 88'228 77'615 o hich inorit intere t in roup pro it lo 0 22 2
GROUP 15 Habib Bank AG Zurich
Cashflow statement
2015 2014 ource e ource e in H 000 o un o un o un o un Cash flow from operating activities 157'279 87'339 271'453 64'095 Group pro it or the perio 22 15 han e in re er e or eneral bankin ri k 20 alue a u t ent on participation epreciation an a orti ation on tan ible i e a et an intan ible a et 12 11 5 ro i ion an other alue a u t ent 11 1 0 5 han e in alue a u t ent or e ault ri k an lo e 0 2 1 5 urrenc tran lation re er e 2 5 1 0 Accrue inco e an prepai e pen e 0 Accrue e pen e an e erre inco e 1 1 52 0 re iou ear i i en 1 1 2 22
Cash flow from shareholders' equity transaction Bank capital Reco ni e in re er e
Cash flow from transactions in respect of participations, tangible fixed assets and intangible assets 2'853 8'816 7'484 15'384 on con oli ate participation Real e tate 1 2 2 5 5 ther tan ible i e a et 1 02 0 1 511 5 ntan ible a et
1 GROUP Habib Bank AG Zurich
2015 2014 ource e ource e in H 000 o un o un o un o un Cash flow from the banking operations Medium to long-term business (> 1 year) 444'805 177'990 717'652 600'435 A ount ue to bank 1 5 1 5 5 A ount ue in re pect o cu to er epo it 12 12 11 1 5 ther liabilitie 21 1 0 A ount ue ro bank A ount ue ro cu to er 2 1 2 1 ort a e loan 21 1 1 2 2 0 ther inancial in tru ent at air alue 212 1 inancial in e t ent 2 5 12 ther account recei able 22 1 Short-term business 1'074'854 1'303'948 1'632'432 1'861'418 A ount ue to bank 2 2 2 115 1 2 iabilitie ro ecuritie inancin tran action 2 A ount ue in re pect o cu to er epo it 5 1 1 50 05 e ati e replace ent alue or eri ati e inancial in tru ent 10 20 1 A ount ue ro bank 0 20 20 2 A ount ue ro ecuritie inancin tran action 1 1 A ount ue ro cu to er 2 10 0 2 ort a e loan 15 ra in port olio a et 0 2 o iti e replace ent alue or eri ati e inancial in tru ent 12 52 5 ther inancial in tru ent at air alue 1 5 2 0 inancial in e t ent 1 50 01 urrenc i erence 1 0 Liquidity 101'698 87'689 i ui a et 101 Total 1'679'791 1'679'791 2'629'021 2'629'021
GROUP 1 Habib Bank AG Zurich
Statement of changes in equity
Re er e Group Retaine or eneral urrenc inorit pro it Bank earnin bankin tran lation intere t or in H 000 capital re er e ri k re er e in e uit lo otal Equity at 01.01.15 150'000 217'269 555'832 8'675 197'352 77'615 1'206'743 ran er o pro it to retaine earnin 55 1 22 2 15 apital increa e ecrea e urrenc tran lation i erence 21 10 2 5 i i en an other i tribution 1 000 2 1 1 1 ther allocation to tran er ro the re er e or eneral bankin ri k 0 1 2 ther allocation to tran er ro other re er e Group pro it lo 22 22 Equity at 31.12.15 150'000 255'186 556'136 -13'073 188'327 88'228 1'224'804
1 GROUP Habib Bank AG Zurich
icture to co e later
Matterhorn (4'478 m), Switzerland GROUP 1 Habib Bank AG Zurich
Notes to the consolidated financial statements
Accounting and valuation principles the pro it an lo account a inco e ro Re ult ro tra in acti itie an the air alue option he Habib Bank AG Zurich Group annual inancial tate ent ha e been ra n up in accor ance ith the or con oli ation purpo e the balance heet o accountin rule incorporate into the i Bankin the inancial tate ent o branche an ub i iarie Act an it acco pan in or inance to ether ith ba e out i e it erlan are tran late into H A ircular 2015 1 Accountin Bank at e chan e rate pre ailin at the Group report in ate he corre pon in inco e tate ent are he e account hich are ba e on the ollo in tran late at the a era e rate o the re pecti e ear con oli ation an accountin policie i e a true orei n e chan e i erence ari in ro the tran an air ie o the Bank an the Group a et o lation o the inancial tate ent o ub i iarie are it inancial po ition an o the re ult o it opera recor e ithin the e uit herea tho e ro the tion tran lation o inancial tate ent o branche are recor e in the inco e tate ent a Re ult ro Consolidation principles tra in acti itie an the air alue option
cope o the con oli ation he ollo in e chan e rate o the a or currencie he Group account incorporate the annual inancial ere u e or the balance heet tate ent o Habib Bank AG Zurich Zurich an it ub i iarie Re er to note or a li t o con oli ate 31.12.15 31.12.14 ub i iarie 1 0 0 1 GB 1 1 5 etho o con oli ation 100 A 2 2 5 he Group capital con oli ation ollo the pur 100 R 0 0 cha e etho 100 ZAR 5 51
he intere t in e uit an pro it or lo attributable to inorit harehol er are i clo e eparatel ntra he ollo in e chan e rate o the a or currencie roup a et an liabilitie a ell a e pen e an ere u e or the inco e tate ent inco e ro intra roup tran action are eli inate 31.12.15 31.12.14 on oli ation perio 1 0 0 2 he con oli ation perio or all Group co panie i 1 GB 1 1 51 the calen ar ear he clo in ate or the con oli 100 A 2 2 2 ate inancial tate ent i 1 ece ber 100 R 0 0 1 100 ZAR 5 Foreign currency translation Valuation and accounting principles n the inancial tate ent o in i i ual Group co pa nie an branche inco e an e pen iture in orei n he aluation an accountin principle are con i currencie are tran late at the e chan e rate rulin a tent or the Bank an the Group at the tran action ate A ount ue ro an ue to thir partie in orei n currencie are tran late at the he nancial tate ent o all roup co panie u e ear en rate Gain an lo e ari in ro currenc or con oli ation co pl ith the belo aluation tran lation into the local currencie are char e to an accountin principle
20 GROUP Habib Bank AG Zurich
Recording of transactions Value adjustments for default risks
ran action are recor e at the tran action ate Recei able here it i con i ere unlikel that the rior to the alue ate or ar orei n e chan e ebtor ill ul ll hi obli ation are con i ere at an preciou etal tran action are carrie a o ri k n particular recei able here intere t an balance heet bu ine Recei able an pa able co i ion are ore than 0 a o er ue are are i clo e accor in to the o icile or re i enc con i ere to be at ri k ntere t at ri k an intere t o client hich i i paire are not reco ni e a inco e but are e ucte to ether ith alue a u t ent a ain t Liquid assets and amounts due to and from banks the capital a ount ro the re pecti e a et houl and amounts due in respect of customer deposits the collection o intere t in re pect o A ount ue ro cu to er an ort a e loan be uncertain he e a ount inclu in intere t ue but not pai intere t i not calculate are ho n at no inal alue or con u er loan peci c alue a u t ent ac Amounts due from and liabilities in respect of cor in to ti e ba e criteria are built here intere t securities fnancing transactions i o er ue or ore than 0 a
he Group bu an ell ecuritie un er a ree alue a u t ent or countr ri k are a e e in ent to re ell or re purcha e ub tantiall i entical accor ance ith the ui eline on the ana e ent ecuritie uch a ree ent o not nor all con ti o countr ri k ro the i Banker A ocia tute econo ic ale an are there ore treate a tion urther ore countr peci c eneral cre it nancin tran action ecuritie ol ub ect to uch ri k alue a u t ent are aintaine ba e on the a ree ent continue to be reco ni e in the balance i erentiate ri k pro le reco ni e or in i i ual heet he procee ro the ale o the e ecuritie ector o the loan port olio or here uncertaint i are treate a liabilitie ecuritie purcha e un er re ecte b a itional alue a u t ent alue a a ree ent to re ell are reco ni e a loan colla u t ent or countr ri k a ell a countr peci c terali e b ecuritie or a ca h epo it a ain t eneral cre it ri k alue a u t ent are e ucte hich the Group ecuritie are ple e ro A ount ue ro cu to er
Amounts due from customers and mortgage loans Trading portfolio assets
he e clai are reporte at no inal alue All cli ra in port olio a et po ition con i t ainl o ent loan are a e e in i i uall or e ault ri k preciou etal an bon he are alue at air an here nece ar alue a u t ent a e in ac alue a at the balance heet ate cor ance ith Group polic he e alue a u t ent take into account the alue o an collateral at len Other fnancial instruments at fair value in alue an the nancial tan in o the borro er he are et o a ain t the corre pon in a et ther nancial in tru ent at air alue hich are tra e on an acti e arket hich eet the con ition e eral la ic Bankin branche in aki tan an or an a e ent at air alue accor in to A outh A rica aintain A et hel un er arah a ircular 2015 1 Accountin Bank an hich are ree ent Ac uire a et un er thi a ree ent are not inten e to be hel until aturit are alue tate at co t le accu ulate epreciation an i accor in to thi principle pair ent i an
GROUP 21 Habib Bank AG Zurich
Financial investments Bank buil in an other real e tate 25 50 ear roprietar or eparatel ac uire inancial in e t ent con i t ainl o e in o t are 5 ear tere t ecuritie he a orit o the e are ac uire ther tan ible e a et 10 ear ith the intention o hol in the until aturit an are hence carrie at co t a u te or the a orti ation o epreciation i char e on lan e cept here o pre iu an i count u in the accrual etho alue a u t ent ha e been a e to allo or a re uction in arket alue he tan ible e a et he re ainin in e t ent in thi po ition are a are re a e e hene er circu tance u e t that lue at the lo er o co t or arket alue principle their alue a ha e allen belo their book alue hi po ition al o inclu e o e hare a ell a real e tate hich ha been a u e ro the len in Intangible assets: Goodwill bu ine or re ale an hich are alue at the lo er o co t or arket alue Goo ill in the balance heet re ult ro the pre iu pai o er net a et alue ro an ac uire Derivative fnancial instruments co pan n uch ca e the recor e oo ill i re ie e or i pair ent e er ear an ritten o eri ati e nancial in tru ent con i t entirel o o er e ear on a trai ht line ba i tra in in tru ent hich are reporte at air alue he reali e an non reali e ain an lo e ro Provisions the e tran action are reporte un er Re ult ro tra in acti itie an the air alue option he Group recor pro i ion to co er peci c ri k that are ba e on a pa t e ent that repre ent a prob he Group ha no i ni cant open eri ati e tran able obli ation an or hich the a ount can be action on it o n account at the balance heet ate reliabl e ti ate o iti e an ne ati e replace ent alue o open e ri ati e nancial in tru ent on behal o client are Reserves for general banking risks ho n in the balance heet a a eparate line ite he re pecti e contract olu e are ho n in the no he e ta e re er e are hel in line ith the Group te pru ent policie a precautionar re er e to he e a ain t latent ri k in the Group operatin acti itie Non-consolidated participations he or part o the ier 1 capital o the Group
on ter hol in in a ociate co panie none o Off balance sheet transactions hich e cee 10 are alue at co t le an econo icall nece ar epreciation ontin ent liabilitie relate ainl to irre ocable co it ent ori inatin ro letter o cre it an Tangible fxed assets uarantee he e are enerall ull ecure ece ar pro i ion are recor e on balance heet un er an ible e a et u e or ore than one accoun pro i ion ontin ent liabilitie to ether ith irre tin perio an hich e cee the thre hol e ne ocable co it ent call liabilitie an cre it co b the Group are capitali e n thi ca e the are e it ent are recor e at no inal alue preciate on a trai ht line ba i o er the perio o their e ti ate u e ul li eti e ti ate li e ti e ha e been et a ollo
22 GROUP Habib Bank AG Zurich
i uciar tran action are con erte into H at the rate pre ailin at the balance heet ate an are ho n at no inal alue
Taxes and deferred taxes
nco e ta e are ba e on the ta la o each ta authorit an are e pen e in the perio in hich the relate pro t are a e e erre ta e ari in ro te poral i erence bet een the tate alue o a et an liabilitie in the con oli ate heet an their corre pon in ta alue are recon ni e a e erre ta a et or e erre ta liabilitie e er re ta a et are capitali e i there i likel to be enou h ta able pro t to o et the e i erence in uture
Pension fund commitments
n it erlan the occupational bene t plan are co ere b Allian ui e n urance o pan All e plo ee are in ure in accor ance ith the la the oun ation ocu ent an the re ulation o the bene t plan n the other countrie pen ion liabilitie are co ere b in urance co panie or are po te irectl to the balance heet he e plo er contribu tion i inclu e un er er onnel e pen e
Receivables and payables from related parties and governing bodies
Recei able an pa able ro o ernin bo ie inclu e cre it line to boar e ber an General ana e ent he e tran action ha e been e ecute in accor ance ith the current internal re ulation on e plo ee loan a ance an epo it
Recei able an pa able ro o ernin bo ie are inclu e in table 1
GROUP 2 Habib Bank AG Zurich
Explanations of risk management
Risk & Control Framework Ri k ana er ocu on the onitorin an proacti e ana e ent o ri k he initiate ri k ana e ent he Ri k ontrol ra e ork o the Group i the ea ure an can chan e the ri k pro ile corner tone or ri k ana e ent an control he Ri k Ri k controller in epen entl onitor an a e ontrol ra e ork pro i e the ba i to e ecti el ri k a ell a hi hli ht e iation ro tar et ri k i enti a e an ana e ri k ithin the Group para eter an non co pliance ith policie urther ore it e ine hich bo ha the o erall re pon ibilit or a particular ri k cla ho ana e Risk management principles it an ho per or in epen ent ri k control he ollo in eneral principle upport the Group Risk organisation e ort to aintain an appropriate balance bet een ri k an return At the le el o the Boar o irector the re pon i e protect the inancial tren th o the Group b bilitie are the ollo in controllin our ri k e po ure an a oi in potential the Boar o irector i re pon ible or the ri k concentration at in i i ual e po ure le el at trate ic irection uper i ion an control o the peci ic port olio le el an at an a re ate Group Group an or e inin our o erall ri k tolerance i e le el acro all ri k t pe b ean o a ri k appetite tate ent an o erall e protect our reputation throu h a oun ri k ri k li it culture characteri e b a holi tic an inte rate the Ri k ontrol o ittee i re pon ible ie o ri k per or ance an re ar an throu h or a i tin the Boar o irector in ul illin it ull co pliance ith our tan ar an principle o er i ht re pon ibilitie b pro i in ui ance e te aticall i enti cla i an ea ure re ar in ri k o ernance an the e elop ent o ri k appl in be t practice the ri k pro ile inclu in the re ular re ie o e en ure ana e ent accountabilit hereb a or ri k e po ure an o erall ri k li it an Bu ine ine ana e ent o n all ri k a u e the Au it o ittee i re pon ible or a i tin throu hout the Group an i re pon ible or the the Boar o irector in ul illin it o er i ht continuou an acti e ana e ent o all ri k e po re pon ibilitie b onitorin General ana e ure to en ure that ri k an return are balance ent approach ith re pect to inancial reportin e et up in epen ent ri k control unction or internal control an accountin A itionall unit hich onitor e ecti ene o ri k ana e the Au it o ittee i re pon ible or onitorin ent an o er ee ri k takin acti itie the in epen ence an the per or ance o the e i clo e ri k to the Boar o irector re u Group nternal Au it an e ternal au itor lator an other takehol er in a co prehen i e an tran parent anner At the operational le el the Group operate ith a three line o e ence o el hereb bu ine Internal controls unction ri k ana e ent o er i ht an a urance role are per or e b unction in epen ent o one nternal control are proce e an in tru ent u e another to onitor an control operational an other bu ine ri k n or er to continuou l enhance the Group urther ore a clear i tinction i a e bet een internal control te an the e ecti ene o con ri k o ner ri k ana er an ri k controller trol re ult o actual control proce e are re ie e Ri k o ner bear the o erall uper i ion an an the outco e o the Group perational Ri k re pon ibilit or the ana e ent o peci ic ri k ana e ent proce e i taken into account he cla e or ri k t pe or ani ational unit re pon ible or internal control
2 GROUP Habib Bank AG Zurich
ork clo el ith other or ani ational unit ithin in ol e in the ac ui ition o cre it bu ine the the Group anal i an appro al o a cre it re ue t an the ub e uent a ini tration Credit risk Bank counterpartie i uer an o erei n are ana re it ri k ari e ro the po ibilit that a coun l e accor in to their nancial per or ance an terpart i e pri ate an corporate client nancial their e ternal ratin er 5 o the cre it e po ure in titution a ell a i uer or o erei n oe not to nancial in titution i o in e t ent ra e ual ul l contractual obli ation or the cre it ualit e it an the re ainin 25 con i t ainl o tra e teriorate n or er to ana e potential e ault ri k nance e po ure in e er in arket to hich the an other pre ailin cre it ri k o t e ecti el it Group i clo el relate an onitor the port olio i i i e into the ollo in ri k t pe client cre it ith a et o countr li it ri k i uer cre it ri k counterpart cre it ri k coun tr ri k inclu in cro bor er tran er ri k ettle Re ar in non per or in loan the Group i in ent ri k an cre it concentration ri k a co ortable po ition A ter takin the collateral at arket alue an the peci c pro i ion into ac he Group re it ana e ent o ittee i re pon count the net un ecure an un pro i e po ition at ible or cre it ri k an cre it eci ion hich a the en o ece ber 2015 a onl H 5 illion be ele ate to the re pecti e ountr re it an a e ent o ittee he Group ana e it cre it ountr ri k are onitore uarterl an are either ri k ithin a con er ati e ra e ork b e aluatin uarantee ith the orl Bank GA or pro i e the cre it orthine o the borro in counterpartie or in accor ance ith the ui eline o the i ettin appropriate cre it li it an obtainin collat Banker A ociation u in international ratin eral a ee e nece ar or each collateral t pe a ini u haircut i e ne in or er to account or Liquidity Risk the olatilit in arket alue accor in to the na ture an li ui it o the collateral Aroun 0 o the he Group applie a pru ent approach to li ui it Group cre it e po ure i ecure b propert an ri k ana e ent he Group A et iabilit an onl 1 i un ecure a e ent o ittee o er ee li ui it an arket ri k re ularl he Group cre it ri k appetite i e ne an oni tore throu h a co prehen i e te o cre it li it he Group rant a ance an loan to client both on a hort ter ba i an ith tenor enerall up he Group ha it o n ratin te or corporate to 5 ear un in i pri aril obtaine throu h client ach cre it i a e e a to the borro er epo it hich are ainl at i ht or hort ter cre it orthine collateral co era e an collat epo it hole ale un in i not i ni cant an eral ualit re uire ent a ell a the un erl in epo it are ell i er i e o in le epo itor tran action rationale bu ine potential an an a account or ore than 5 o the Group total e itional ri k iti ation er onal cre it are u uall po it ce li ui it i hel a bank place ent or onl rante on a ull collaterali e ba i ollateral nancial in e t ent he latter pri aril con i t o co era e i onitore on a re ular ba i an accor bon port olio o o erei n i uer or other i uer in to the pre ailin arket con ition o hi h ualit
A e uate an clear e re ation o utie are e he contractual aturitie o the Group nancial tabli he a on the ariou or ani ational unit a et e cee the contractual aturitie o the nan
GROUP 25 Habib Bank AG Zurich
cial liabilitie Ho e er hen eter inin aturit intere t rate ri k o t client a ance are a ree on a ap the tickine o epo it or econo ic aturi or onth ba e rate plu a cre it prea tie nee to be con i ere hich i ni cantl re uce the contractual ap urther ore in i i ual n a ition branche an ub i iarie ha e place client roup in i erent countrie ill not act in the e ce li ui it in bank place ent or in nancial in a e a an at the a e ti e e t ent ith tenor u uall up to 5 ear hile the olu e o nancial in e t ent i kept li ite n eneral the Group i e po e to potential lar er the a era e uration o the e inco e port olio epo itor out o an u en a er e arket e el create intere t rate ri k e po ure i en the ab ence op ent here ore relate cenario ha e been ana o lon ter hole ale nancin l e a part o three li ui it tre te t per or e throu hout the Group he tre te t re ult ho e or orei n e chan e ri k the Group pur ue a ri k that the li ui a et a ailable coul ab orb pro ecte a er e approach an ai at keepin potential or out o in all ca e ei n e chan e lo e lo he Group oe not pur ue proprietar orei n e chan e tra in acti itie he Group aintain a tron li ui it po ition hich i urther upporte b e tabli he repo unc ro t earne in the Bank branche are ub ect to tionalitie n a ition li ui it co era e ratio tar et e chan e rate ri k up to their re ittance to Habib ha e been e ne or all operatin Group co panie Bank AG Zurich Zurich he e ri k are onitore in the Hea ce an pro t he e a elt appro he hort ter li ui it i po ition an li ui it priate apital an re er e hel in the branche are ituation o in i i ual countrie are onitore b the al o ub ect to orei n e chan e ri k in o ar a the re pecti e countr trea ur unction n a ition are hel in local currencie An orei n e chan e li ui it re er e are hel both on Group an on tran lation ain or lo on the e capital an re er e countr le el an contin enc un in plan are in i taken to the inco e tate ent in the ear in hich place or the Group all branche an ub i iarie it occur
Market risk Operational risk
he Group i e po e to arket intere t rate ri k or perational ri k i e ne a the ri k o lo re ultin ei n e chan e ri k an to a er li ite e tent to ro ina e uate or aile internal proce e people e uitie an co o itie ri k te or ro e ternal e ent
he Group arket ri k appetite i e ne an on he Group ake u e o i operational ri k an itore throu h a co prehen i e te o arket a e ent proce e hich con i t o ke ri k in i ri k li it b the Group A et iabilit ana e cator chan e ri k a e ent ri k el a e ent ent o ittee urther ore the Group re ularl cenario anal i ri k e ent ana e ent an i ue per or cenario an tre te t or intere t rate ana e ent action trackin an orei n e chan e ri k ba e on pre ailin ri k e po ure urther ore three t pe o ri k iti ation are u e an co pri e control enhance ent bu ine con he Group i e po e to intere t rate ri k ue to inter tinuit ana e ent an other iti ation ea ure e t perio et or a ance a e to client e cee in ri k a oi ance ri k re uction ri k tran er the intere t perio or client epo it taken o li it
2 GROUP Habib Bank AG Zurich
o pro acti el a re ri k relate to potential reputation lea in potentiall to a lo o bu ine bu ine i ruption bu ine i pact anal e cri ne or penaltie i ana e ent tea an bu ine continuit plan ha e been e tabli he or the Group a ell a or all he Group ha e tabli he a o e o on uct an branche an ub i iarie pro ote tran parenc an ethical beha ior
Legal and compliance risk Systemic risk
e al ri k i the ri k that the Group ill con uct ac te ic ri k can be e ne a a ri k o i ruption ti itie or carr out tran action in hich it i ina to nancial er ice that i cau e b an i pair ent e uatel co ere or i le t e po e to potential liti a o all or part o the nancial te an ha the po tion t i the po ibilit that a ailure to eet le al tential to ha e eriou ne ati e con e uence or the re uire ent a re ult in unen orceable contract real econo liti ation ne penaltie or clai or a a e or other a er e con e uence he Group anal e on a re ular ba i actor hich coul ha e a e tabili in i pact on the nancial o pliance ri k i the ri k o le al or re ulator te hich inclu e a on t other the ra ile anction aterial nancial lo or lo to the repu econo ic e elop ent continue nancial arket tation the Group a u er a a re ult o it ailure uncertaint nu erou political cri e increa e e to co pl ith la re ulation rule relate el po ure to c ber attack a ell a the e er increa in re ulator or ani ation tan ar an co e o con e tent an co ple it o re ulation Ba e on thi uct applicable to it bankin acti itie anal i the Group i ple ent iti atin ea ure here er po ible ea ure ai e at ini i in le al an co pliance ri k inclu e rai in e plo ee a arene o le al Events after the balance sheet date an re ulator i ue throu h trainin an internal irecti e an control to en ure a herence to the o e ent that oul a er el a ect the nancial le al an re ulator re uire ent ithin hich the tate ent inclu e in thi report occurre a ter the Group operate balance heet ate
n line ith the e elop ent o the le al an re ula tor en iron ent o the in u tr the Group ha con i tentl in e te in per onnel an technical re ource to en ure a e uate co pliance co era e A co pre hen i e ra e ork o policie an re ular peciali e trainin e ion en ure that e plo ee recei e ap propriate on oin e ucation an trainin in thi area
Reputation risk
Reputation ri k i the ri k that ille al unethi cal or inappropriate beha ior b the Group it el e ber o ta or client or repre entati e o the Group ill a a e Habib Bank AG Zurich
GROUP 2 Habib Bank AG Zurich
Information on the financial statements
1 Structure of securities financing transactions (assets and liabilities)
in H 000 31.12.15 31.12.14 Book alue o recei able ro ca h collateral relate to ecuritie borro in an re er e repurcha e tran action 1 Book alue o pa able ro ca h collateral po te or ecuritie len in an repurcha e tran action 2 Book alue o ecuritie lent in connection ith ecuritie len in or eli ere a collateral in connection ith ecuritie borro in a ell a ecuritie in o n port olio tran erre in connection ith repurcha e tran action 2 1 o hich tho e ith an unre tricte ri ht to re ell or ple e air alue o ecuritie er in a collateral po te or ecuritie len in or ecuritie borro e or ecuritie recei e in connection ith re er e repurcha e tran action ith an unre tricte ri ht to re ell or reple e the o hich reple e ecuritie o hich re ol ecuritie
Be ore takin into con i eration an nettin a ree ent
2 GROUP Habib Bank AG Zurich
2 Collateral for loans and off balance sheet transactions, as well as impaired loans / receivables
pe o collateral ecure b ort a e other in H 000 co era e collateral n ecure otal Loans (before netting with value adjustments) ue ro cu to er 51 1 11 5 01 222 ort a e loan 20 0 1 1 21 22 1 Re i ential an co ercial propert 1 10 1 1 01 o ercial pre i e 2 0 1 21 0 2 Total loans (before netting with value adjustments) 31.12.15 1'417'304 1'474'889 546'213 3'438'406 1 12 1 1 50 1 20 2 2 5
Total loans (after netting with value adjustments) 31.12.15 1'240'663 1'457'549 497'150 3'195'361 1 12 1 1 201 55 1 5 2 0 0 22
Off balance sheet ontin ent liabilitie 20 50 1 10 1 5 55 01 1 1 2 1 rre ocable co it ent 1 5 1 5 re it co it ent 1 1 1 1 0 212 0 Total off balance sheet 31.12.15 26'611 1'247'802 121'906 1'396'319 1 12 1 1 115 02 011 5 001 1 0 12
ti ate li ui ation n i i ual Gro ebt alue o the et ebt alue in H 000 a ount collateral a ount a u t ent Impaired loans / receivables 31.12.15 347'145 105'644 241'501 235'852 1 12 1 1 11 555 250 0 22 0
GROUP 2 Habib Bank AG Zurich
3 Breakdown of trading portfolios and other financial instruments at fair value
in H 000 31.12.15 31.12.14 Assets Trading portfolios 98 707 ebt in tru ent one arket in tru ent one arket tran action o hich li te uit intere t reciou etal an co o itie 0 ther tra in a et
Other financial instruments at fair value 2'437'957 1'956'773 ebt in tru ent 2 5 1 0 tructure pro uct ther 5 11
Total assets 2'438'055 1'957'480 o hich eter ine b aluation o el 1 22 o hich ecuritie allo e or repo tran action in accor ance ith li ui it re uire ent 1 2
0 GROUP Habib Bank AG Zurich
Hongkong (Downtown Street), People's Republic of China
GROUP 1 Habib Bank AG Zurich
4 Presentation of derivative financial instruments
Trading instruments o iti e e ati e replace ent replace ent ontract in H 000 alue alue olu e Interest rate instruments or ar contract inclu in RA ap uture ption ption e chan e tra e
Foreign exchange / precious metals or ar contract 0 2 10 1 2 2 o bine intere t rate currenc ap uture ption ption e chan e tra e
Equity interests / indices or ar contract ap uture ption ption e chan e tra e 2 2
Credit derivatives re it e ault ap otal return ap ir t to e ault ap ther cre it eri ati e
Other or ar contract ap uture ption ption e chan e tra e
Total before taking into consideration netting agreements Total at 31.12.15 8'092 10'918 3'241'949 o hich eter ine b u in a aluation o el
2 GROUP Habib Bank AG Zurich
Trading instruments o iti e e ati e replace ent replace ent ontract in H 000 alue alue olu e otal at 1 12 1 20 1 21 1 1 o hich eter ine b u in a aluation o el
o iti e e ati e replace ent replace ent alue alue in H 000 accu ulate accu ulate Total after taking into consideration netting agreements Total at 31.12.15 8'092 10'918 at 1 12 1 20 1 21
5 Breakdown by counterparties of derivative financial instruments
entral Bank an in H 000 clearin partie ecuritie ealer ther client o iti e replace ent alue a ter nettin a ree ent 20 5 0 1
he Group ha no he in in tru ent
GROUP Habib Bank AG Zurich
6 Breakdown of financial investments
Book alue air alue in H 000 31.12.15 31.12.14 31.12.15 31.12.14 Debt instruments 1'126'308 1'115'015 1'129'570 1'116'937 o hich hel until aturit 1 12 0 1 115 015 1 12 5 0 1 11 o hich not hel until aturit Equity interests 972 1'120 972 1'044 Real estate 11'897 8'976 17'674 13'833 Total 1'139'177 1'125'111 1'148'216 1'131'813 o hich ecuritie allo e or repo tran action in accor ance ith li ui it re uire ent 20 0 1 02
7 Breakdown of the counterparty according to rating
in H 000 AAA AA A BBB BB to B nrate Book alue 1 5 12 5 1 1 1 1 5 1 0 0 1
Ratin cate or i ba e on the o erei n orei n currenc lon ter ratin te ro itch
GROUP Habib Bank AG Zurich
8 List of consolidated companies in which the Bank permanently holds direct or indirect participation of significance
roporti Bu ine hare capital apital on o o irect n irect acti itie in 1 000 hare tin ri ht o ner hip o ner hip Company name and registered office Habib ana ian Bank i ite oronto ana a Bank A 0 000 100 100 100 0 HBZ Bank i ite urban outh A rica Bank ZAR 50 000 100 100 100 0 Habib uropean Bank i ite ou la Bank GB 5 000 100 100 100 0 le o an HBZ er ice Z ubai A er ice centre A 00 100 100 100 0 Habib etropolitan Bank t arachi aki tan Bank R 10 15 51 51 51 0 Habib Bank Zurich Hon on t Re tricte H 00 000 51 51 51 0 Hon on icence Bank Habib AG Zurich lc on on Bank GB 50 100 100 100 0
GROUP 5 Habib Bank AG Zurich
9 Presentation of participations
Reporting year Accu ulate a orti ation or alue a u t ent alue a u t ent Book alue at o participation Book alue at n H 000 Ac ui ition co t e uit aluation 31.12.14 Recla i ication A ition i po al intere t 31.12.15 arket alue Other participation with no market value R Bel iu Total 88 88 88
10 Tangible fixed assets
Reporting year Accu ulate Book alue at Book alue at in H 000 Ac ui ition co t epreciation 31.12.14 Recla i ication A ition i po al epreciation Re er al 31.12.15 Bank buil in an re i ential apart ent 102 5 1 52 1 2 0 2 1 51 22 11 ther real e tate 1 11 1 2 0 0 2 25 roprietar or eparatel ac uire o t are 15 0 2 22 2 1 ther tan ible i e a et 00 5 11 5 0 51 0 10 12 5 an ible a et ac uire un er inancial lea e o hich bank buil in o hich other real e tate o hich other tan ible i e a et Total 172'571 -81'942 90'629 8'816 -2'281 -10'218 -10 86'936
inclu in net o orei n currenc a u t ent
GROUP Habib Bank AG Zurich
Reporting year Accu ulate a orti ation or alue a u t ent alue a u t ent Book alue at o participation Book alue at n H 000 Ac ui ition co t e uit aluation 31.12.14 Recla i ication A ition i po al intere t 31.12.15 arket alue Other participation with no market value R Bel iu Total 88 88 88
Reporting year Accu ulate Book alue at Book alue at in H 000 Ac ui ition co t epreciation 31.12.14 Recla i ication A ition i po al epreciation Re er al 31.12.15 Bank buil in an re i ential apart ent 102 5 1 52 1 2 0 2 1 51 22 11 ther real e tate 1 11 1 2 0 0 2 25 roprietar or eparatel ac uire o t are 15 0 2 22 2 1 ther tan ible i e a et 00 5 11 5 0 51 0 10 12 5 an ible a et ac uire un er inancial lea e o hich bank buil in o hich other real e tate o hich other tan ible i e a et Total 172'571 -81'942 90'629 8'816 -2'281 -10'218 -10 86'936
inclu in net o orei n currenc a u t ent
GROUP Habib Bank AG Zurich
11 Intangible assets
Reporting year
Accu u Ac ui late Book Book ition a orti value at n e t i e t A orti value at in H 000 co t ation 31.12.14 ent ent ation 31.12.15 Goo ill 5 2 5 1 0 1 12 2 atent icen e ther intan ible a et Total 8'567 -3'427 5'140 -1'712 3'428
12 Breakdown of other assets and other liabilities
ther a et ther liabilitie in H 000 31.12.15 31.12.14 31.12.15 31.12.14 o pen ation account 2 5 11 e erre inco e ta reco ni e a a et 50 2 2 1 ther 2 0 1 1 5 2 Total 74'783 52'069 35'333 35'115
GROUP Habib Bank AG Zurich
13 Disclosure of assets pledged or assigned to secure own commitments and of assets under reservation of ownership*
ecti e in H 000 Book alue co it ent Assets pledged A ount ue ro bank 1 2 5 inancial in e t ent A et put un er o ner hip re er ation Total 9'509 599
clu in ecuritie inancin tran action
14 Payable to own employee benefit plans
31.12.15 31.12.14 a able to e plo ee bene it plan 11 1 1
Commitments to own pension and welfare plans
he Group oe not aintain it o n pen ion un he occupational bene it plan in the countrie are co ere b in urance co panie All e plo ee are in ure in accor ance ith the la the oun ation ocu ent an the re ulation o the bene it plan
n accor ance ith the contractual an le al con ition o the bene it plan in the countrie there can be neither eco no ic liabilitie that e cee the contribution et b the re ulation o the bene it plan nor econo ic bene it or the Group n a ition urin both the reportin ear an urin the pre iou ear there ere no non co itte plan nor a there an e plo er pai contribution re er e uch that the e pen e ho n in the inco e tate ent e ual the actual e pen e or pen ion an el are plan or the reportin perio
GROUP Habib Bank AG Zurich
15 Value adjustments and provisions and reserves for general banking risks
e in con or it ith e i nate urrenc a t ue intere t e creation n H 000 Balance at 31.12.14 purpo e Recla i ication i erence reco erie char e to inco e Relea e to inco e Balance at 31.12.15 ro i ion or e erre ta e 2 1 ro i ion or pen ion un obli ation ro i ion or e ault ri k 21 25 52 1 ro i ion or other bu ine ri k 1 1 15 0 1 0 1 51 11 0 ro i ion or re tructurin 150 150 ther pro i ion 1 1 1 1 Total provisions 22'967 -16'084 -787 14'198 -2'303 17'991
Reserves for general banking risks 555'832 1'238 -934 556'136
Value adjustments for default risks and country risks 229'308 -13'118 -7'810 4'580 36'425 -5'597 243'788 o hich alue a u t ent or e ault ri k in re pect o i paire loan 22 0 1 11 10 5 0 1 0 5 5 2 5 52 o hich alue a u t ent or e ault ri k in re pect o inancial in e t ent o hich alue a u t ent or latent ri k 2 00 5 1
0 GROUP Habib Bank AG Zurich
e in con or it ith e i nate urrenc a t ue intere t e creation n H 000 Balance at 31.12.14 purpo e Recla i ication i erence reco erie char e to inco e Relea e to inco e Balance at 31.12.15 ro i ion or e erre ta e 2 1 ro i ion or pen ion un obli ation ro i ion or e ault ri k 21 25 52 1 ro i ion or other bu ine ri k 1 1 15 0 1 0 1 51 11 0 ro i ion or re tructurin 150 150 ther pro i ion 1 1 1 1 Total provisions 22'967 -16'084 -787 14'198 -2'303 17'991
Reserves for general banking risks 555'832 1'238 -934 556'136
Value adjustments for default risks and country risks 229'308 -13'118 -7'810 4'580 36'425 -5'597 243'788 o hich alue a u t ent or e ault ri k in re pect o i paire loan 22 0 1 11 10 5 0 1 0 5 5 2 5 52 o hich alue a u t ent or e ault ri k in re pect o inancial in e t ent o hich alue a u t ent or latent ri k 2 00 5 1
GROUP 1 Habib Bank AG Zurich
16 Disclosure of amounts due from / to related parties
A ount ue ro A ount ue to in H 000 31.12.15 31.12.14 31.12.15 31.12.14 uali ie hol in 2 22 A ociate ran action ith e ber o o ernin bo ie 1 520 1 22 1 50 10 ther relate partie
2 GROUP Habib Bank AG Zurich
17 Maturity structure of financial instruments
Due Bet een Bet een ancel ithin an 12 12 onth A ter o in H 000 At i ht lable onth onth an 5 ear 5 ear aturit otal Asset / financial instruments i ui a et 1 0 2 15 1 0 2 15 A ount ue ro bank 1 0 1 2 21 5 51 2 0 0 A ount ue ro cu to er 0 2 1 11 05 10 2 5 51 5 2 05 ort a e loan 12 1 52 15 20 5 ra in port olio a et o iti e replace ent alue o eri ati e inancial in tru ent 0 2 0 2 ther inancial in tru ent at air alue 2 5 2 5 inancial in e t ent 5 5 51 52 2 0 55 0 1 1 1 Total 31.12.15 4'731'220 6'809 3'140'636 1'253'630 975'067 186'420 10'293'781 1 12 1 1 50 2 10 5 5 1 1 2 0 1 5 1 2 55 5 2 12 0 5 2 2
Liabilities / financial instruments A ount ue to bank 11 52 1 1 0 0 1 iabilitie ro ecuritie inancin tran action 2 2 A ount ue in re pect o cu to er epo it 2 0 2 1 10 12 215 0 0 5 5 e ati e replace ent alue o eri ati e inancial in tru ent 10 1 10 1 Total 31.12.15 5'066'278 339'448 2'237'282 1'295'042 215'909 7'608 9'161'566 1 12 1 2 2 2 5 2 0 5 1 02 1 1 5 0 2 2 0 0
GROUP Habib Bank AG Zurich
18 Assets and liabilities broken down by domestic and foreign origin in accordance with domicile principle
31.12.15 31.12.14 in H 000 o e tic orei n o e tic orei n Assets i ui a et 5 0 12 0 1 0 A ount ue ro bank 2 0 1 0 2 1 0 2 0 2 5 1 5 A ount ue ro ecuritie inancin tran action 1 A ount ue ro cu to er 55 252 2 1 5 5 12 2 5 ort a e loan 20 5 5 20 ra in port olio a et 2 1 o iti e replace ent alue o eri ati e inancial in tru ent 12 0 2 20 5 2 ther inancial in tru ent at air alue 2 5 1 5 inancial in e t ent 150 2 120 5 1 00 12 Accrue inco e an prepai e pen e 5 115 0 1 225 10 05 on con oli ate participation an ible i e a et 002 10 0 21 ntan ible a et 2 1 5 1 0 ther a et 1 5 1 0 Total 580'456 10'002'182 671'552 9'131'934
Liabilities A ount ue to bank 1 1 2 1 0 15 iabilitie ro ecuritie inancin tran action 20 000 52 A ount ue in re pect o cu to er epo it 1 25 551 501 122 2 5 5 e ati e replace ent alue o eri ati e inancial in tru ent 1 50 5 21 2 Accrue e pen e an e erre inco e 5 1 5 12 021 ther liabilitie 21 2 11 0 25 ro i ion 2 10 12 1 Re er e or eneral bankin ri k 1 2 250 22 2 2 50 Bank capital 150 000 150 000 Retaine earnin re er e 2 2 2 1 21 2 urrenc tran lation re er e 1 0 5 inorit intere t in e uit 2 15 1 5 Group pro it lo 1 1 1 1 0 2 1 Total 835'846 9'746'792 758'030 9'045'457
GROUP Habib Bank AG Zurich
19 Breakdown of total assets by countries or regions (domicile principle)
in H 000 31.12.15 31.12.14 Assets
Europe 1'898'004 17.9% 1'680'179 17.1% o hich it erlan 5 2 5 50 5 1 nite in o 1 0 2 ther 515 2 1
North America 262'574 2.5% 239'324 2.4%
Asia 7'753'008 73.3% 7'178'093 73.3% o hich A 2 1 2 2 2 5 0 2 0 aki tan 5 5 1 2 10 0 0 ther 5 5 21 20
Other countries 669'052 6.3% 705'891 7.2% o hich outh A rica 2 2 2 0 ther 0 05 2
Total 10'582'638 100.0% 9'803'487 100.0%
20 Breakdown of total assets by credit rating of regions (risk domicile principle)
et orei n e po ure et orei n e po ure in H 000 at 31.12.15 at 31.12.14 AAA 1 1 151 1 2 25 1 0 2 0 AA to AA 1 0 5 1 15 1 A to A 2 2 2 2 2 1 2 BBB to BBB 0 2 1 1 1 2 1 BB to B 1 1 12 2 2 1 0 0 5 0 0 1 nrate 1 2 0 1 1 Total 10'002'182 100.0% 9'803'487 100.0%
Ratin cate or i ba e on the o erei n orei n currenc lon ter ratin te ro itch
GROUP 5 Habib Bank AG Zurich
21 Assets and liabilities broken down by the most important currencies for the Group
in H 000 H GB A R ther otal Asset i ui a et 5 2 1 2 15 02 1 5 11 1 0 2 15 A ount ue ro bank 5 022 21 1 5 2 5 25 5 05 2 0 0 A ount ue ro ecuritie inancin tran action A ount ue ro cu to er 1 1 555 1 50 1 1 5 2 1 5 0 1 2 05 ort a e loan 1 1 52 5 5 20 5 ra in port olio a et o iti e replace ent alue or eri ati e inancial in tru ent 12 1 2 5 1 00 0 2 ther inancial in tru ent at air alue 2 5 2 5 inancial in e t ent 2 1 0 0 0 22 2 120 255 1 1 1 Accrue inco e an prepai e pen e 5 1 20 12 02 0 2 1 12 2 on con oli ate participation an ible i e a et 10 1 21 2 5 2 1 ntan ible a et 2 1 2 ther a et 1 1 5 5 15 52 51 00 5 Total assets shown in balance sheet 394'648 1'985'170 776'726 2'374'048 4'269'855 782'191 10'582'638 eli er clai ro pot e chan e tran action orei n e chan e or ar an orei n e chan e option 2 210 1 2 0 1 0 1 0 1 50 Total assets 396'857 2'618'901 869'522 2'374'048 4'910'633 922'371 12'092'332
GROUP Habib Bank AG Zurich
in H 000 H GB A R ther otal Liabilities A ount ue to bank 1 50 52 2 15 2 2 2 2 22 20 1 iabilitie ro ecuritie inancin tran action 20 000 52 2 A ount ue in re pect o cu to er epo it 5 515 1 5 0 2 1 5 1 0 51 5 5 e ati e replace ent alue o eri ati e inancial in tru ent 1 50 1 1 0 10 1 Accrue e pen e an e erre inco e 12 0 21 5 10 12 1 2 5 ther liabilitie 11 1 2 1 5 2 51 5 ro i ion 50 1 150 52 21 1 1 Re er e or eneral bankin ri k 1 2 250 11 2 1 0 5 2 55 1 Bank capital 150 000 150 000 Retaine earnin re er e 2 1 11 2 1 5 1 255 1 urrenc tran lation re er e 1 0 1 0 inorit intere t in e uit 2 15 2 1 2 Group pro it lo 1 5 1 5 1 51 10 1 22 Total liabilities shown in balance sheet 728'455 2'042'524 722'812 2'316'657 4'067'957 704'234 10'582'637 eli er co it ent ro pot e chan e tran action orei n e chan e or ar an orei n e chan e option 2 1 5 0 05 2 00 0 21 5 1 50 Total liabilities 790'946 2'633'229 784'820 2'316'657 4'776'678 790'003 12'092'331
Net position for each currency -394'088 -14'328 84'702 57'391 133'955 132'368
GROUP Habib Bank AG Zurich
22 Breakdown of contingent liabilities
in H 000 31.12.15 31.12.14 re it uarantee an i ilar 01 1 5 rre ocable co it ent ue to ocu entar cre it 1 150 5 5 5 Total 1'182'316 1'139'144
23 Breakdown of credit commitments
in H 000 31.12.15 31.12.14 o it ent ari in ro acceptance 151 1 2 0 ther cre it co it ent 0 1 5 22 Total 212'407 221'271
24 Breakdown of fiduciary transactions
in H 000 31.12.15 31.12.14 i uciar in e t ent ith thir part co panie 1 0 5 i uciar tran action ro ecuritie len in an borro in hich are carrie out b the Bank actin un er it o n na e but on behal o client 1 2 1 1 1 Total 89'947 105'917
GROUP Habib Bank AG Zurich
25 Breakdown of the result from trading activities and the fair value option
in H 000 2015 2014 Result from trading activities ntere t rate in tru ent incl un 2 5 11 nreali e ore ain lo e on re er e hel in orei n currencie 2 00 orei n e chan e 25 11 1 o o itie preciou etal 25 Total 56'797 104'539 o hich ro the air alue option applie to a et 2 5 11
26 Breakdown of personnel expenses
in H 000 2015 2014 alarie an a itional allo ance 11 205 10 o hich e pen e relate to hare ba e co pen ation an alternati e or o ariable co pen ation ocial in urance obli ation 1 ther per onnel e pen e 5 2 0 Total 130'993 121'336
GROUP Habib Bank AG Zurich
27 Breakdown of general and administrative expenses
in H 000 2015 2014 ice pace e pen e 1 01 1 pen e or in or ation technolo an teleco unication 0 pen e or otor ehicle achiner urniture an other e uip ent an operatin lea e e pen e 2 2 Au it ee 1 25 1 0 o hich or inancial an re ulator au it 1 5 1 11 o hich or other er ice 1 5 ther operatin e pen e 0 1 2 Total 63'012 56'991
28 Analysis of extraordinary income and expenses
in H 000 2015 2014 Extraordinary income Relea e o pro i ion no lon er re uire 2 ro it on ale o i e a et 5 2 20 Reco erie an other 1 2 1 5 Total 612 2'675
Extraordinary expenses ther 2 1 Total -82 -71
50 GROUP Habib Bank AG Zurich
29 Breakdown of operating result broken down according domestic and foreign origin according to the principle of permanent establishment
2015 2014 in H 000 it erlan Abroa it erlan Abroa et re ult ro intere t operation 10 5 221 10 525 1 01 Re ult ro co i ion bu ine an er ice 110 52 Re ult ro tra in acti itie an the air alue option 1 5 110 0 102 ther re ult ro other or inar acti itie 5 05 22 0 2 Total net income 54'735 311'679 70'979 333'471 er onnel e pen e 21 0 10 0 21 15 100 021 General an a ini trati e e pen e 12 50 52 11 15 5 1 Operating expenses 33'791 160'214 33'130 145'197 alue a u t ent on participation epreciation an a orti ation on tan ible i e an intan ible a et 1 5 1 10 05 1 1 10 0 han e to pro i ion an other alue a u t ent an lo e 2 25 1 5 2 Operating result 10'771 137'406 34'799 172'998 it erlan Abroa 2 1 Taxes -2'986 -58'426 -1'641 -54'526 it erlan Abroa 5 1 2 1 Group profit / loss 7'798 80'430 3'374 74'241 it erlan Abroa 1 2 5
nco e an e pen iture it erlan inclu e the i operation an Hea ice
30 Presentation of current taxes, deferred taxes and disclosure of the tax rate
in H 000 2015 2014 nco e ta e 2 2 1 e erre ta e pen e 1 51 05 Taxes 61'412 56'166
A era e ta rate 1 0
he utili ation o ta lo e carrie or ar in the Branch ha le to H 0 5 illion lo er inco e ta e or the perio
GROUP 51 Habib Bank AG Zurich
Report of the Statutory Auditor
o the General eetin o Habib Bank AG Zurich Zurich
Report of the Statutory Auditor on the Consolidated Financial Statements
A tatutor au itor e ha e au ite the acco pan in con oli ate inancial tate ent o Habib Bank AG Zurich hich co pri e the balance heet inco e tate ent tate ent o chan e in e uit ca h lo tate ent an note pa e 12 to 51 o the annual report or the ear en e 1 ece ber 2015
Board of Directors' Responsibility he Boar o irector i re pon ible or the preparation o the con oli ate inancial tate ent in accor ance ith the pro i ion o ernin the preparation o inancial tate ent or Bank an the re uire ent o i la hi re pon ibilit inclu e e i nin i ple entin an aintainin an internal control te rele ant to the preparation an air pre entation o con oli ate inancial tate ent that are ree ro aterial i tate ent hether ue to rau or error he Boar o irector i ur ther re pon ible or electin an appl in appropriate accountin policie an akin accountin e ti ate that are rea onable in the circu tance
Auditor's Responsibility ur re pon ibilit i to e pre an opinion on the e con oli ate inancial tate ent ba e on our au it e con ucte our au it in accor ance ith i la an i Au itin tan ar ho e tan ar re uire that e plan an per or the au it to obtain rea onable a urance hether the con oli ate inancial tate ent are ree ro aterial i tate ent
An au it in ol e per or in proce ure to obtain au it e i ence about the a ount an i clo ure in the con oli ate inancial tate ent he proce ure electe epen on the au itor u ent inclu in the a e ent o the ri k o aterial i tate ent o the con oli ate inancial tate ent hether ue to rau or error n akin tho e ri k a e ent the au itor con i er the internal control te rele ant to the entit preparation o the con oli ate inancial tate ent in or er to e i n au it proce ure that are appropriate in the circu tance but not or the purpo e o e pre in an opinion on the e ecti ene o the entit internal control te An au it al o inclu e e aluatin the appropriatene o the accountin policie u e an the rea onablene o accountin e ti ate a e a ell a e aluatin the o erall pre entation o the con oli ate inancial tate ent e belie e that the au it e i ence e ha e obtaine i u icient an appropriate to pro i e a ba i or our au it opinion
Opinion n our opinion the con oli ate inancial tate ent or the ear en e 1 ece ber 2015 i e a true an air ie o the inan cial po ition the re ult o operation an the ca h lo in accor ance ith the pro i ion o ernin the preparation o inancial tate ent or Bank an co pl ith i la
Report on Other Legal Requirements
e con ir that e eet the le al re uire ent on licen in accor in to the Au itor er i ht Act A A an in epen ence article 2 an article 11 A A an that there are no circu tance inco patible ith our in epen ence
n accor ance ith article 2 a para raph 1 ite an i Au itin tan ar 0 e con ir that an internal control te e i t hich ha been e i ne or the preparation o con oli ate inancial tate ent accor in to the in truction o the Boar o irector
e reco en that the con oli ate inancial tate ent ub itte to ou be appro e
G AG
rtu rul ek i irko iberto Licensed Audit Expert Licensed Audit Expert Auditor in Charge
Zurich 25 April 201
52 GROUP Habib Bank AG Zurich
Dubai (Burj Khalifa), United Arab Emirates GROUP 5 Habib Bank AG Zurich
Balance sheet (before appropriation)
in H 000 ote 31.12.15 31.12.14 Assets i ui a et 25 5 2 5 A ount ue ro bank 1 0 21 1 5 0 5 A ount ue ro cu to er 2 1 1 2 ort a e loan 2 10 1 1 ra in port olio a et 0 o iti e replace ent alue o eri ati e inancial in tru ent 5 inancial in e t ent 2 25 1 0 Accrue inco e an prepai e pen e 2 articipation 2 1 2 5 an ible i e a et 5 1 52 ntan ible a et 2 5 1 0 ther a et 1 1 1 Total assets 5'423'802 5'333'916
5 BANK Habib Bank AG Zurich
in H 000 ote 31.12.15 31.12.14 Liabilities A ount ue to bank 5 2 1 iabilitie ro ecuritie inancin tran action 1 20 000 A ount ue in re pect o cu to er epo it 01 25 1 2 e ati e replace ent alue o eri ati e inancial in tru ent 1 5 Accrue e pen e an e erre inco e 1 205 0 ther liabilitie 20 50 22 12 ro i ion 10 10 0 1 122 Re er e or eneral bankin ri k 10 5 0 000 Bank capital 11 150 000 150 000 tatutor retaine earnin re er e 000 5 000 oluntar retaine earnin re er e 1 1 1 ro it carrie or ar lo carrie or ar 52 ro it lo re ult o the perio 0 5 Total liabilities 5'423'802 5'333'916
Off balance sheet transactions ontin ent liabilitie 2 2 2 rre ocable co it ent 1 5 5 12 re it co it ent 15 0 5 1 0
BANK 55 Habib Bank AG Zurich
Income statement
in H 000 ote 2015 2014 Result from interest operations ntere t an i count inco e 101 ntere t an i i en inco e ro inancial in e t ent 1 5 2 1 22 ntere t e pen e 15 1 5 Gross result from interest operations 104'593 100'577
han e in alue a u t ent or e ault ri k an lo e ro intere t operation 15 12 120 Subtotal net result from interest operations 88'781 97'456
Result from commission business and services o i ion inco e ro ecuritie tra in an in e t ent acti itie 5 21 5 1 0 o i ion inco e ro len in acti itie 1 1 o i ion inco e ro other er ice 1 22 o i ion e pen e 2 2 022 Subtotal result from commission business and services 41'281 43'751
Result from trading activities and the fair value option 1 8'449 38'155
Other result from ordinary activities Re ult ro the i po al o inancial in e t ent 1 nco e ro participation 2 12 12 52 Re ult ro real e tate 2 222 ther or inar inco e 5 1 Subtotal other result from ordinary activities 31'217 18'060
5 BANK Habib Bank AG Zurich
in H 000 ote 2015 2014 Operating expenses er onnel e pen e 1 5 5 0 General an a ini trati e e pen e 1 2 1 2 5 0 Subtotal operating expenses -102'896 -102'479
alue a u t ent on participation an epreciation an a orti ation on tan ible i e an intan ible a et 5 2 5 han e to pro i ion an other alue a u t ent an lo e 12 5 5
Operating result 48'631 83'198
traor inar inco e 20 22 2 20 traor inar e pen e 20 2 1 han e in re er e or eneral bankin ri k 1 5 0 0 000 a e 21 12 20 1 5
Profit / loss (result for the period) 34'784 40'563
BANK 5 Habib Bank AG Zurich
Statement of changes in equity
oluntar retaine tatutor Re er e or earnin an Bank retaine eneral pro it lo pro it Bank earnin bankin carrie or in H 000 apital re er e ri k or ar lo otal Equity at 01.01.15 150'000 75'000 488'000 179'512 40'563 933'075 ran er o pro it to retaine earnin 2 000 21 000 2 000 apital increa e ecrea e urrenc tran lation i erence 5 5 i i en an other i tribution 1 5 1 000 ther allocation to tran er ro the re er e or eneral bankin ri k 1 5 0 1 5 0 ther allocation to tran er ro other re er e ro it lo re ult o the perio Equity at 31.12.15 150'000 77'000 489'580 196'502 34'784 947'866
5 BANK Habib Bank AG Zurich
Information on the financial statements
1 Structure of securities financing transactions (assets and liabilities)
31.12.15 31.12.14 Book alue o recei able ro ca h collateral relate to ecuritie borro in an re er e repurcha e tran action Book alue o pa able ro ca h collateral po te or ecuritie len in an repurcha e tran action 20 000 Book alue o ecuritie lent in connection ith ecuritie len in or eli ere a collateral in con nection ith ecuritie borro in a ell a ecuritie in o n port olio tran erre in connection ith repurcha e tran action 20 000 o hich tho e ith an unre tricte ri ht to re ell or ple e air alue o ecuritie er in a collateral po te or ecuritie len in or ecuritie borro e or ecu ritie recei e in connection ith re er e repurcha e tran action ith an unre tricte ri ht to re ell or reple e the o hich reple e ecuritie o hich re ol ecuritie
Be ore takin into con i eration an nettin a ree ent
BANK 5 Habib Bank AG Zurich
2 Collateral for loans and off balance sheet transactions, as well as impaired loans / receivables
pe o collateral ecure b ort a e other in H 000 co era e collateral n ecure otal Loans (before netting with value adjustments) ue ro cu to er 5 02 2 2 1 ort a e loan 2 2 Re i ential an co ercial propert 2 2 o ercial pre i e Total loans (before netting with value adjustments) 31.12.15 889'366 402'927 494'926 1'787'219 1 12 1 1 5 5 2 1 01 22
Total loans (after netting with value adjustments) 31.12.15 888'045 385'612 447'949 1'721'606 1 12 1 1 0 0 55 5 1 0 1 5
Off balance sheet ontin ent liabilitie 22 2 0 2 rre ocable co it ent 1 5 1 5 re it co it ent 2 1 22 50 5 1 2 0 5 1 Total off balance sheet 31.12.15 11'825 250'982 79'228 342'036 1 12 1 1 0 2 15 111 1 1
ti ate li ui ation n i i ual Gro ebt alue o the et ebt alue in H 000 a ount collateral a ount a u t ent Impaired loans / receivables 31.12.15 110'799 47'548 63'251 58'420 1 12 1 11 0 5 52 0
0 BANK Habib Bank AG Zurich
3 Breakdown of Trading portfolios and other Financial instruments at fair value
in H 000 31.12.15 31.12.14 Assets Trading portfolios 98 707 ebt in tru ent one arket in tru ent one arket tran action o hich li te uit intere t reciou etal an co o itie 0 ther tra in a et
Other financial instruments at fair value ebt in tru ent tructure ro uct ther
Total Assets 98 707 o hich eter ine b aluation o el o hich ecuritie allo e or repo tran action in accor ance ith li ui it re uire ent
BANK 1 Habib Bank AG Zurich
4 Presentation of derivative financial instruments
Trading instruments o iti e e ati e replace ent replace ent ontract in H 000 alue alue olu e Interest rate instruments or ar contract inclu in RA ap uture ption ption e chan e tra e
Foreign exchange / precious metals or ar contract 5 1 2 5 o bine intere t rate currenc ap uture ption ption e chan e tra e
Equity interests / indices or ar contract ap uture ption ption e chan e tra e 2 2
Credit derivatives re it e ault ap otal return ap ir t to e ault ap ther cre it eri ati e
Other or ar contract ap uture ption ption e chan e tra e
Total before taking into consideration netting agreements Total at 31.12.15 495 1'749 247'940 o hich eter ine b u in a aluation o el
2 BANK Habib Bank AG Zurich
Trading instruments o iti e e ati e replace ent replace ent ontract in H 000 alue alue olu e otal at 1 12 1 5 12 50 o hich eter ine b u in a aluation o el
o iti e e ati e replace ent replace ent alue alue in H 000 accu ulate accu ulate Total after taking into consideration netting agreements Total at 31.12.15 495 1'749 at 1 12 1 5
5 Breakdown by counterparties of derivative financial instruments
entral Bank an in H 000 clearin partie ecuritie ealer ther client o iti e replace ent alue a ter nettin a ree ent 12
he Bank ha no he in in tru ent
6 Breakdown of financial investments
Book alue air alue in H 000 31.12.15 31.12.14 31.12.15 31.12.14 Debt instruments 826'079 816'855 829'779 819'307 o hich hel until aturit 2 0 1 55 2 1 0 o hich not hel until aturit Equity interests 346 485 346 409 Real estate Total 826'425 817'340 830'125 819'716 o hich ecuritie allo e or repo tran action in accor ance ith li ui it re uire ent 20 0 1 02
BANK Habib Bank AG Zurich
7 Breakdown of the counterparty according to rating
in H 000 AAA AA A BBB BB to B nrate Book alue 1 5 12 5 12 055 1 0 1 2 1 2 0 2 0
Ratin cate or i ba e on the o erei n orei n currenc lon ter ratin te ro itch
8 Breakdown of other assets and other liabilities
ther a et ther liabilitie in H 000 31.12.15 31.12.14 31.12.15 31.12.14 o pen ation account 25 0 e erre inco e ta e reco ni e a a et 10 ther 1 20 50 15 2 Total 18'339 19'418 20'750 22'711
9 Disclosure of assets pledged or assigned to secure own commitments and of assets under reservation of ownership*
ecti e in H 000 Book alue co it ent Assets pledged A ount ue ro bank 1 5 5 inancial n e t ent A et put un er o ner hip re er ation Total 1'543 599
clu in ecuritie inancin tran action
BANK Habib Bank AG Zurich
Durban (Skyline), South Africa BANK 5 Habib Bank AG Zurich
10 Value adjustments and provisions and reserves for general banking risks
e in con or it ith e i nate urrenc a t ue intere t e creation n H 000 Balance at 31.12.14 purpo e Recla i ication i erence reco erie char e to inco e Relea e to inco e Balance at 31.12.15 ro i ion or e erre ta e ro i ion or pen ion un obli ation ro i ion or e ault ri k ro i ion or other bu ine ri k 1 122 1 5 112 1 025 1 51 10 0 ro i ion or re tructurin ther pro i ion Total provisions 13'122 -14'754 -112 14'025 -1'451 10'830
Reserves for general banking risks 488'000 1'580 489'580
Value adjustments for default risks and country risks 54'667 -5'847 -900 2'624 21'328 -5'516 66'356 o hich alue a u t ent or e ault ri k in re pect o i paire loan 52 0 5 00 2 2 15 2 5 51 5 20 o hich alue a u t ent or e ault ri k in re pect o inancial in e t ent o hich alue a u t ent or latent ri k 2 00 5 1
BANK Habib Bank AG Zurich
e in con or it ith e i nate urrenc a t ue intere t e creation n H 000 Balance at 31.12.14 purpo e Recla i ication i erence reco erie char e to inco e Relea e to inco e Balance at 31.12.15 ro i ion or e erre ta e ro i ion or pen ion un obli ation ro i ion or e ault ri k ro i ion or other bu ine ri k 1 122 1 5 112 1 025 1 51 10 0 ro i ion or re tructurin ther pro i ion Total provisions 13'122 -14'754 -112 14'025 -1'451 10'830
Reserves for general banking risks 488'000 1'580 489'580
Value adjustments for default risks and country risks 54'667 -5'847 -900 2'624 21'328 -5'516 66'356 o hich alue a u t ent or e ault ri k in re pect o i paire loan 52 0 5 00 2 2 15 2 5 51 5 20 o hich alue a u t ent or e ault ri k in re pect o inancial in e t ent o hich alue a u t ent or latent ri k 2 00 5 1
BANK Habib Bank AG Zurich
11 Bank's capital
31.12.15 31.12.14
otal apital otal apital no inal eli ible or no inal eli ible or in H 000 alue uantit i i en alue uantit i i en Bank capital cooperati e capital 150 000 1 500 000 150 000 150 000 1 500 000 150 000 o hich pai up Total Bank's capital 150'000 1'500'000 150'000 150'000 1'500'000 150'000
Authori e capital thereo e ecute capital increa e
12 Disclosure of holders of significant participations
31.12.15 31.12.14 At no inal At no inal in H 000 alue alue Significant shareholders and groups of shareholders with voting agreements otin hare Ge an inan AG Zu 150 000 100 150 000 100
non otin hare
Bene ical hol in Ge an inan AG i 100 o ne b a tru t tructure hich repre ent in e ual hare the our branche o the oha e ali Habib a il o in i i ual ha a bene icial intere t o 10 or ore in the hare o Habib Bank AG Zurich
BANK Habib Bank AG Zurich
13 Disclosure of amounts due from / to related parties
A ount ue ro A ount ue to in H 000 31.12.15 31.12.14 31.12.15 31.12.14 uali ie hol in 2 22 Group co panie 25 52 0 0 2 2 2 ran action ith e ber o o ernin bo ie 1 520 1 22 10 2
14 Breakdown of total assets by the credit rating of regions (risk domicile principle)
et orei n e po ure et orei n e po ure in H 000 at 31.12.15 at 31.12.14 AAA 1 2 0 2 5 1 2 1 5 AA to AA 2 5 2 1 A to A 2 1 2 55 1 2 12 55 0 BBB to BBB 120 12 2 5 1 5 BB to B 0 5 1 0 0 5 0 0 1 nrate 521 1 1 11 2 Total 4'845'123 100.0% 5'333'917 100.0%
Ratin cate or i ba e on the o erei n orei n currenc lon ter ratin te ro itch
15 Breakdown of credit commitments
in H 000 31.12.15 31.12.14 o it ent ari in ro acceptance 1 5 2 1 ther cre it co it ent 51 10 5 Total 70'561 70'934
BANK Habib Bank AG Zurich
16 Breakdown of fiduciary transactions
in H 000 31.12.15 31.12.14 i uciar in e t ent ith thir part co panie 05 5 i uciar in e t ent ith roup co panie an a iliate co panie 1 5 1 i uciar tran action ro ecuritie len in an borro in hich are carrie out b the Bank actin un er it o n na e but on behal o client 1 2 1 1 1 Total 89'948 119'885
17 Breakdown of the result from trading activities and the fair value option
in H 000 2015 2014 Result from trading activities nreali e ore ain lo e on re er e hel in orei n currencie 2 00 orei n e chan e 11 5 5 10 o o itie preciou etal 25 Total 8'449 38'155 o hich ro the air alue option applie to a et
0 BANK Habib Bank AG Zurich
18 Breakdown of personnel expenses
in H 000 2015 2014 alarie an a itional allo ance 50 1 5 0 o hich e pen e relate to hare ba e co pen ation an alternati e or o ariable co pen ation ocial in urance obli ation 5 5 5 alue a u t ent or econo ic bene it or obli ation ari in ro pen ion un ther per onnel e pen e 2 0 1 22 Total 58'666 59'909
19 Breakdown of general and administrative expenses
in H 000 2015 2014 ice pace e pen e 1 5 pen e or in or ation technolo an teleco unication 1 0 pen e or otor ehicle achiner urniture an other e uip ent an operatin lea e e pen e 1 0 1 15 Au it ee 1 1 00 o hich or inancial an re ulator au it 1 2 1 2 5 o hich or other er ice 1 25 ther operatin e pen e 0 5 2 5 Total 44'231 42'570
BANK 1 Habib Bank AG Zurich
20 Analysis of extraordinary income and expenses
in H 000 2015 2014 Extraordinary income Relea e o pro i ion no lon er re uire 2 ro it on ale o i e a et 20 Reco erie an other 1 2 1 5 Total 22 2'420
Extraordinary expenses ther 2 1 Total -82 -71
21 Presentation of current taxes, deferred taxes and disclosure of the tax rate
in H 000 2015 2014 nco e ta e 1 0 1 20 e erre ta e pen e 1 02 1 Taxes 12'206 14'985
A era e ta rate 25 1 1
he utili ation o ta lo e carrie or ar in the Branch ha le to H 0 5 illion lo er inco e ta e or the perio
2 BANK Habib Bank AG Zurich
Appropriation of profit / coverage of losses / other distributions
he Boar o irector ill ub it the ollo in propo al to the General eetin o harehol er in re pect o the i tribution o pro it
in H 000 31.12.15 31.12.14 ro it lo re ult or the perio 0 5 ro it carrie or ar lo carrie or ar 52 Distributable profit 34'873 41'089
Appropriation o pro it Allocation to tatutor retaine earnin re er e 1 00 2 000 Allocation to oluntar retaine earnin re er e 15 000 21 000 i tribution o i i en ro i tributable pro it 1 000 1 000 Profit carried forward 73 89
BANK Habib Bank AG Zurich
Report of the Statutory Auditor
o the General eetin o Habib Bank AG Zurich Zurich
Report of the Statutory Auditor on the Financial Statements
A tatutor au itor e ha e au ite the acco pan in inancial tate ent o Habib Bank AG Zurich hich co pri e the balance heet inco e tate ent tate ent o chan e in e uit an note pa e 5 to 2 o the annual report or the ear en e 1 ece ber 2015
Board of Directors' Responsibility he Boar o irector i re pon ible or the preparation o the inancial tate ent in accor ance ith the pro i ion o ern in the preparation o inancial tate ent or Bank the re uire ent o i la an the co pan article o incorporation hi re pon ibilit inclu e e i nin i ple entin an aintainin an internal control te rele ant to the preparation o inancial tate ent that are ree ro aterial i tate ent hether ue to rau or error he Boar o irector i urther re pon ible or electin an appl in appropriate accountin policie an akin accountin e ti ate that are rea onable in the circu tance
Auditor's Responsibility ur re pon ibilit i to e pre an opinion on the e inancial tate ent ba e on our au it e con ucte our au it in accor ance ith i la an i Au itin tan ar ho e tan ar re uire that e plan an per or the au it to obtain rea onable a urance hether the inancial tate ent are ree ro aterial i tate ent
An au it in ol e per or in proce ure to obtain au it e i ence about the a ount an i clo ure in the inancial tate ent he proce ure electe epen on the au itor u ent inclu in the a e ent o the ri k o aterial i tate ent o the inancial tate ent hether ue to rau or error n akin tho e ri k a e ent the au itor con i er the internal control te rele ant to the entit preparation o the inancial tate ent in or er to e i n au it proce ure that are appropriate in the circu tance but not or the purpo e o e pre in an opinion on the e ecti ene o the entit internal control te An au it al o inclu e e aluatin the appropriatene o the accountin policie u e an the rea onablene o accountin e ti ate a e a ell a e aluatin the o erall pre entation o the inancial tate ent e belie e that the au it e i ence e ha e obtaine i u icient an appropriate to pro i e a ba i or our au it opinion
Opinion n our opinion the inancial tate ent or the ear en e 1 ece ber 2015 i e a true an air ie o the inancial po ition the re ult o operation an the ca h lo in accor ance ith the pro i ion o ernin the preparation o inancial tate ent or Bank an co pl ith i la an the co pan article o incorporation
Report on Other Legal Requirements
e con ir that e eet the le al re uire ent on licen in accor in to the Au itor er i ht Act A A an in epen ence article 2 an article 11 A A an that there are no circu tance inco patible ith our in epen ence
n accor ance ith article 2 a para raph 1 ite an i Au itin tan ar 0 e con ir that an internal control te e i t hich ha been e i ne or the preparation o inancial tate ent accor in to the in truction o the Boar o irector
e urther con ir that the propo e appropriation o a ailable earnin co plie ith i la an the co pan article o incorporation e reco en that the inancial tate ent ub itte to ou be appro e
G AG
rtu rul ek i irko iberto Licensed Audit Expert Licensed Audit Expert Auditor in Charge
Zurich 25 April 201
BANK Habib Bank AG Zurich
Addresses
Head Office and operation
Habib Bank AG Zurich einber tra e 5 Bo 225 0 2 Zurich it erlan elephone 1 2 5 00 ail in och habibbank co
Branches
United Kingdom Habib Bank AG Zurich Habib Hou e 2 oor ate on on 2R elephone 20 52 0200 ail contactuk habibbank co
United Arab Emirates Habib Bank AG Zurich Al hei haikh Za e Roa Bo 0 ubai A elephone 1 5200 ail c habibbank co
Kenya Habib Bank AG Zurich Habib Hou e oinan e treet Bo 05 00100 G airobi en a elephone 25 20 11 2 ail in o ke habibbank co
Subsidiaries
Habib Canadian Bank Ltd. Habib ana ian Bank t Canada 1 un a treet a t uite 00 i i au a ntario H ana a elephone 1 05 2 5 00 ail in o habibbank co
5 Habib Bank AG Zurich
Subsidiaries
HBZ Bank Ltd. HBZ Bank t South Africa 1 5 an Ho e r Roa Bo 15 e t ille an beck 1 outh A rica elephone 2 1 2 00 ail a one habibbank co a
Habib European Bank Ltd. Habib uropean Bank t Isle of Man 1 Athol treet ou la le o an 1 1 A elephone 1 2 22 55 2 5 ail a ri habibbabk co
HBZ Services FZ LLC HBZ er ice Z United Arab Emirates ubai ut ource Zone Bo 1 ubai A elephone 1 5
Habib Metropolitan Bank Ltd. Habib etropolitan Bank t Pakistan pencer Buil in hun ri ar Roa arachi 200 aki tan elephone 221 111 1 1 1 ail in o habib etro co
Habib Bank Zurich (Hong Kong) Ltd. Habib Bank Zurich Hon on t Hong Kong 1 01 05 1 in n Hou e 1 e oeu Roa entral Hon on elephone 52 2521 1 ail aino ice hb hon kon co
Habib Bank Zurich Plc Habib Bank Zurich lc United Kingdom Habib Hou e 2 oor ate on on 2R elephone 20 52 0200 ail contactuk habibbank co
Habib Bank AG Zurich
Representative offices
Bangladesh Habib Bank AG Zurich B B Bhaban 12 a ran Ba ar A haka 1215 Ban la e h elephone 0 2 550 1 ail n hu a habibbank co
Hong Kong Habib Bank AG Zurich 1 01 05 1 in n Hou e 1 e oeu Roa entral Hon on elephone 52 2521 1 ail aino ice hb hon kon co
Pakistan Habib Bank AG Zurich pencer Buil in hun ri ar Roa arachi 200 aki tan elephone 221 111 1 1 1 ail in o habib etro co
a out un ro uktion heiler erbe abrik G bH