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Ctbc Financial Holding Co., Ltd. and Subsidiaries 1 Stock Code:2891 CTBC FINANCIAL HOLDING CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements With Independent Auditors’ Report For the Six Months Ended June 30, 2019 and 2018 Address: 27F and 29F, No.168, Jingmao 2nd Rd., Nangang Dist., Taipei City 115, Taiwan, R.O.C. Telephone: 886-2-3327-7777 The independent auditors’ report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors’ report and consolidated financial statements, the Chinese version shall prevail. 2 Table of contents Contents Page 1. Cover Page 1 2. Table of Contents 2 3. Independent Auditors’ Report 3 4. Consolidated Balance Sheets 4 5. Consolidated Statements of Comprehensive Income 5 6. Consolidated Statements of Changes in Stockholder’s Equity 6 7. Consolidated Statements of Cash Flows 7 8. Notes to the Consolidated Financial Statements (1) History and Organization 8 (2) Approval Date and Procedures of the Consolidated Financial Statements 8 (3) New Standards, Amendments and Interpretations adopted 9～12 (4) Summary of Significant Accounting Policies 12～39 (5) Primary Sources of Significant Accounting Judgments, Estimates and 40 Assumptions Uncertainty (6) Summary of Major Accounts 40～202 (7) Related-Party Transactions 203～215 (8) Pledged Assets 216 (9) Significant Contingent Liabilities and Unrecognized Contract 217～226 Commitment (10) Significant Catastrophic Losses 227 (11) Significant Subsequent Events 227 (12) Other 227～282 (13) Disclosures Required (a) Related information on significant transactions 283～287 (b) Related information on reinvestment 287～289 (c) Information on investment in Mainland China 289～290 (14) Segment Information 291 KPMG 11049 5 7 68 ( 101 ) Telephone + 886 (2) 8101 6666 台北市 信義路 段 號 樓 台北 大樓 68F., TAIPEI 101 TOWER, No. 7, Sec. 5, Fax 電話 + 886 (2) 8101 6667 Xinyi Road, Taipei City 11049, Taiwan (R.O.C.) Internet 傳真 kpmg.com/tw 網址 KPMG, a Taiwan partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. 4 (English Translation of Consolidated Financial Statements Originally Issued in Chinese) CTBC FINANCIAL HOLDING CO., LTD. AND SUBSIDIARIES Consolidated Balance Sheets June 30, 2019, December 31, 2018 and June 30, 2018 (Expressed in Thousands of New Taiwan Dollars) June 30, 2019 December 31, 2018 June 30, 2018 June 30, 2019 December 31, 2018 June 30, 2018 ASSETS Amount % Amount % Amount % LIABILITIES AND EQUITY Amount % Amount % Amount % 11000 Cash and cash equivalents(Note 4 and 6(a)) $ 110,660,527 2 128,348,319 2 113,026,717 2 Liabilities: 11500 Due from the central bank and call loans to 296,352,207 5 252,880,081 4 266,666,653 5 21000 Deposits from the central bank and banks(Note 6(t)) $ 57,672,257 1 74,498,692 1 59,834,742 1 banks(Note 6(b), 7 and 8) 21500 Due to the central bank and banks(Note 6(u)) 18,503,959 - 14,041,775 - 16,957,916 - 12000 Financial assets measured at fair value through profit 428,132,525 7 368,632,520 6 346,121,032 6 22000 Financial liabilities measured at fair value through 120,343,348 2 106,571,323 2 118,068,280 2 or loss(Note 4, 6(c) and (w), 7 and 8) profit or loss(Note 4 and 6(c)) 12150 Financial assets measured at fair value through other 571,204,439 9 463,855,794 8 410,320,269 8 22300 Derivative financial liabilities-hedging(Note 4 and 47,038 - 184,195 - 453,506 - comprehensive income (Note 4, 6(d) and (w), and 6(f)) 8) 22500 Securities sold under repurchase agreements(Note 4, 118,067,677 2 70,524,205 1 56,273,699 1 12200 Investments in debt instruments measured at 1,728,662,996 28 1,627,683,522 28 1,615,587,089 29 6(v) and 7) amortised cost(Note 4, 6(e) and (v), and 8) 22600 Commercial papers issued-net(Note 6(w)) 43,425,226 1 38,638,067 1 17,696,022 - 12300 Financial assets-hedging(Note 4 and 6(f)) 189,815 - 34,212 - 148,808 - 23000 Payables(Note 6(x) and 7) 120,100,339 2 96,119,060 2 105,888,121 2 12500 Securities purchased under resell agreements(Note 4 32,729,836 1 24,656,572 1 10,849,931 - and 6(g)) 23200 Current income tax liabilities(Note 4) 2,411,509 - 3,713,312 - 4,574,993 - 13000 Receivables-net(Note 4, 6(h), (k) and (av), 7 and 8) 211,193,134 3 197,753,645 4 192,939,443 4 23500 Deposits and remittances(Note 6(y) and 7) 3,325,205,899 55 3,138,015,328 55 3,076,643,805 56 13200 Current income tax assets(Note 4) 1,808,046 - 3,258,128 - 1,560,667 - 24000 Bonds payable(Note 6(c) and (f), and (z)) 98,326,412 2 98,724,952 2 110,833,235 2 13300 Assets classified as held for sale, net(Note 4 and - - 523,182 - - - 24600 Provisions(Note 4, 6(aa), (ae) and (af)) 1,657,985,690 27 1,585,162,090 28 1,464,222,860 27 6(i)) 25500 Other financial liabilities(Note 4, 6(ab) and (ap)) 200,718,379 3 193,255,451 3 181,933,919 3 13500 Loans-net(Note 4, 6(j), 6(k) and (av), and 7) 2,429,439,225 40 2,364,345,480 41 2,268,302,128 41 26000 Lease liabilities(Note 4 and 6(ac)) 15,690,756 - - - - - 13700 Reinsurance contract assets-net(Note 4 and 6(l)) 2,135,643 - 2,593,345 - 2,694,272 - 29300 Deferred tax liabilities(Note 4) 4,837,709 - 2,383,652 - 2,258,821 - 15000 Investment under equity method-net(Note 4 and 37,096,984 1 35,353,449 1 34,517,617 1 29500 Total other liabilities(Note 6(ad)) 19,044,212 - 16,266,963 - 15,612,658 - 6(m)) Total liabilities 5,802,380,410 95 5,438,099,065 95 5,231,252,577 94 15500 Other financial assets-net(Note 4, 6(k), (n) and (ap), 89,214,726 1 75,939,497 1 74,141,739 1 Stockholders’ equity - parent company: and 8) 31100 Capital stock: 18000 Investment property-net(Note 4 and 6(o)) 74,225,967 1 57,591,759 1 57,686,897 1 31101 Common stock(Note 6(ah)) 194,969,896 3 194,969,896 3 194,969,896 3 18500 Premises and equipment-net(Note 4 and 6(p)) 54,366,291 1 53,985,880 1 53,120,859 1 31103 Preferred stock(Note 6(ah)) 4,999,900 - 3,333,300 - 3,333,300 - 18600 Right-of-use assets-net(Note 4 and 6(q)) 17,058,834 - - - - - 31500 Capital surplus(Note 6(ah)) 58,686,089 1 50,368,539 1 50,368,539 1 19000 Intangible assets-net(Note 4 and 6(r)) 24,648,156 - 24,487,733 1 23,800,710 - 32000 Retained earnings: 19300 Deferred income tax assets(Note 4) 9,981,020 - 15,656,082 - 14,853,529 - 32001 Legal reserve 27,793,018 - 24,189,775 - 24,189,775 - 19500 Other assets-net(Note 4, 6(s) and 8) 46,012,167 1 55,668,346 1 57,674,273 1 32003 Special reserve 50,412,813 1 29,719,062 1 29,719,062 1 32011 Undistributed earnings(Note 6(ai)) 24,175,372 - 48,945,112 1 35,099,203 1 32500 Other equity interest(Note 6(ah)) 1,613,582 - (36,453,220) (1) (25,000,524) - 39500 Non-controlling interests 81,458 - 76,017 - 80,805 - Total equity 362,732,128 5 315,148,481 5 312,760,056 6 TOTAL ASSETS $ 6,165,112,538 100 5,753,247,546 100 5,544,012,633 100 TOTAL LIABILITIES AND EQUITY $ 6,165,112,538 100 5,753,247,546 100 5,544,012,633 100 See accompanying notes to financial statements. 5 (English Translation of Consolidated Financial Statements Originally Issued in Chinese) CTBC FINANCIAL HOLDING CO., LTD. AND SUBSIDIARIES Consolidated Statements of Comprehensive Income For the three and six months ended June 30, 2019 and 2018 (Expressed in Thousands of New Taiwan Dollars, Except for Earnings Per Share) For the three months ended June 30 For the six months ended June 30 2019 2018 2019 2018 Amount % Amount % Amount % Amount % 41000 Interest income(Note 6(al) and 7) $ 35,788,750 74 31,699,439 46 70,678,391 55 61,611,595 42 51000 Less: Interest expenses(Note 6(al) and 7) (7,923,802) (16) (6,517,014) (9) (15,635,145) (12) (12,421,691) (8) Net income of interest (Note 6(al)) 27,864,948 58 25,182,425 37 55,043,246 43 49,189,904 34 Net non-interest income (loss) 49800 Service fee and commissions income(Note 6(am) and 7) 5,888,146 12 4,908,560 7 12,152,342 9 11,348,241 8 49810 Net insurance income(Note 6 (an)) 8,094,577 17 30,437,881 44 49,201,009 39 70,081,346 48 49820 Gains on financial assets measured at fair value through profit or loss(Note 6(ao)) 2,654,922 5 (20,675,995) (30) 13,058,500 10 (9,049,846) (6) 49825 (Losses) Gains on investment properties (6,755) - 154,119 - 383,540 - 381,323 - 49835 Realized gain on financial assets measured at fair value through other comprehensive 3,318,713 7 1,706,655 3 5,390,583 4 6,414,887 5 income 49850 Gains on derecognition of financial assets measured at amortized cost(Note 6(e)) (221,100) - 152,477 - 31,817 - 182,170 - 49870 Foreign exchange gains (losses) 4,352,682 9 26,781,973 39 6,952,159 5 13,463,756 9 49880 Reversal of impairment loss on assets 89,247 - 13,968 - 292,696 - 50,284 - 49890 Proportionate share of gains from associates or joint ventures under equity method(Note 395,957 1 321,256 - 780,144 1 657,865 - 6(m)) 49898 (Losses) Gains on reclassification under the overlay approach(Note 6(c)) (2,703,171) (6) 1,740,087 3 (12,477,621) (10) 4,991,424 4 49900 Net other non-interest incomes (853,428) (2) (1,291,195) (2) (261,855) - (990,646) (1) 58099 Public-welfare lottery payment (503,277) (1) (424,426) (1) (1,767,722) (1) (1,580,710) (1) Net revenue 48,371,461 100 69,007,785 100 128,778,838 100 145,139,998 100 58100 Provisions for bad debt expenses, commitment and guarantee liability provision(Note (1,342,814) (3) (1,698,815) (3) (2,489,860) (2) (2,148,522) (1) 6(k)) 58300 Net change in provisions for insurance liabilities(Note 6(aq)) (17,752,423) (37) (38,255,184) (55) (67,288,624) (52) (85,360,448) (59) Operating expenses: 58501 Employee benefits expenses(Note
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