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Annual Report for Year 2014(English)

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Annual Report for Year 2014(English) Table of Contents Corperate Profile .................................................................................................... 2 Chairman’s Statement ............................................................................................ 3 President’s Report................................................................................................... 5 Definition ................................................................................................................ 7 Important Notice ..................................................................................................... 8 Major Risk Notice ................................................................................................... 9 Chapter I Corporate Information ......................................................................... 10 Chapter II Accounting and Business Figure Highlights ........................................ 12 Chapter III Changes in Share Capital and Shareholders ...................................... 17 Chapter IV Overview of Directors, Supervisors, Senior Management, Employees and Organization .................................................................................................. 23 Chapter V Corporate Governance Structure ........................................................ 47 Chapter VI Report of the Board of Directors ........................................................ 72 Chapter VII Social Responsibilities ..................................................................... 112 Chapter VIII Major Events ................................................................................. 115 Chapter IX List of Documents for Reference ...................................................... 119 Chapter X Financial Report ................................................................................ 120 Corperate Profile Xiamen International Bank Co., Ltd. (“XIB”), was established on August 31, 1985 and headquartered in Xiamen. It is the first Sino-foreign joint venture bank in the People’s Republic of China. In 2013, XIB was wholly restructured from a limited liability company to a joint-stock limited company, and from a Sino-foreign joint venture bank to a Chinese commercial bank. For 30 years since its establishment, the Bank has been keeping forging ahead and attaching great importance to innovation and reform as it is dedicated to providing quality services to its clients and committed to attaining forefront status in the banking industry and creating superior value. Given that, it has gradually evolved into a commercial bank which is renowned for prudent development and profitability, enjoying a good reputation both at home and abroad. In 2014, XIB ranked among the top 1000 banks of the world listed by the Banker, a British professional magazine, and in the list, it took the 444th position in terms of tier I capital and occupied the 320th place in terms of total assets, which bears witness to its ongoing rise in ranking. The Bank has wholly-owned subsidiaries in both Hong Kong and Macau - Xiamen International Investment Co., Ltd. (“XII”) in Hong Kong and Luso International Banking Ltd. (“LIB”) in Macau. LIB, a comprehensive bank ranking among top four local banks in Macau in terms of key indicators, has 12 branches and has set up a representative office in Hengqin, Zhuhai in January 2014; in Mainland China, we operate over 40 branches in Beijing, Shanghai, Zhuhai, Xiamen, Fuzhou, Ningde, Longyan, Quanzhou and Zhangzhou, thus perfecting our nationwide network of branches gradually. Looking into the future, XIB will strive actively to provide our clients with warm, convenient, safe and professional high-quality services together with diversified and personalized comprehensive financial services and differentiated and tailored financial products and solutions, to attain promising returns for our shareholders, employees and the society. XIB looks forward to creating a brilliant future together with you! 2 The Annual Report 2014 Xiamen International Bank Co. Ltd. [English translation for reference only] Chairman’s Statement In 2014, in standing up to the five reforms of this age, i.e. interest rate liberalization, financial disintermediation, pan-asset management, big data and new regulatory standards, XIB achieved desirable results with foresight and sound judgment based on keen insight into the market, pioneering innovation, risk management and robust development by adhering to the working guideline of the year, carrying out reforms for enhancement and through driving medium and long-term strategic layout in an all-round way, including the reform of operation and management models , increasing capital and shares, issuing tier II capital bonds and the business operation network establishment. As at the end of 2014, our total assets reached 348.9 billion Yuan, up by 33.63% on a year-on-year basis while our market shares rose further. The Bank recorded after-tax profit of 2.228 billion Yuan at a year-on-year growth rate of 33.53%. Its non-performing loan ratio was maintained at 0.46%, and asset quality continued to remain at a stable and optimal level. The spectacular results that we produced in 2014 were attributable to the strong guidance and support of governments at all levels and regulatory authorities, to the trust and assistance of all of our shareholders, clients and different sectors of the society, and to our staff’s persistent endeavor and hard work. On behalf of the Board of Directors, I would like to take this opportunity to express our heartfelt gratitude to leaders at all levels, our shareholders and clients for their long and lasting support and care for our development and sincere gratitude to the staff of our bank for their arduous endeavors. Looking into 2015, XIB will meet great challenges in terms of operation and management in deliberation of China’s current economic downturn pressure, acid test for the asset quality of the banking industry, gradual acceleration of interest rate liberalization and financial disintermediation as well as increasing competition in the banking industry. As the economic structural adjustment and a wide range of financial reforms enter the substantial implementation period in the “new normal” situation, and driven by a new round of capital increase and IPO, the Bank will still take full advantage of the development opportunities created by the reforms. To celebrate our 3 30th anniversary and the successful ending of the Third Five-year Plan (2011-2015), we will keep up closely with the trend of times and pay tribute to our 30th anniversary with outstanding performance through carrying forward the reform of operation and management models in an all-round way, speeding up strategic transformation and achieving continuous improvement of efficiency and effectiveness. 4 The Annual Report 2014 Xiamen International Bank Co. Ltd. [English translation for reference only] President’s Report In 2014, despite the adverse external situation featuring economic downturn, “Triple Superposition1”, tightened regulatory policies, etc., XIB unswervingly implemented relevant requirements of the General Shareholders’ Meeting and the Board of Directors and gave full play to the teamwork and dedication spirit. We broke bottlenecks through reform and achieved growth with innovation in order to consolidate the linkage among institutions both at home and abroad, intensify the marketing of financial solutions and promote the diverse development of corporate business, personal business, financial institutions and all lines of the financial market. Thus, we saw a new record high in terms of scale and profitability, significant optimization of business structures and asset quality at a stable and optimal level. As a result, the Bank accomplished the goals set by the Board of Directors in a comprehensive and overfulfilled way. As at the end of 2014, the Bank’s deposit and loan balances increased by 64.38% and 36.78%, respectively, in comparison the end of last year while a variety of businesses kept rapid growth; it registered the growth of after-tax profit for the whole year by 33.53% on a year-on-year basis, evidencing the simultaneous rapid rise of profitability; its non-performing loan and asset ratios were 0.46% and 0.21%, respectively, maintaining basically flat with the end of the previous year, and it held its asset quality at an optimal level against the backdrop of significant climb of non-performing ratios in the banking industry; its provision coverage was sufficient at the ratio of 415.66%. XIB unswervingly adheres to the strategic mindset of “acting with integrity, operating with wisdom, managing risks and managing in a lean way” while upholding the strategic positioning of “sticking to niche market, seizing advance opportunities, achieving in-depth development, creating differentiation and doing business internationally”. We build our unique soft power into the hard backbone of our development through pulling together to strengthen organizational and cultural advantages constantly, and create the impetus for competing aggressively and the 5 fundamental protection of healthy development through constructing the barriers to prevent and control risks with orderly and effective all-round quality management. In 2014, XIB made significant progress in terms of medium and long-term layout with the successful completion of a new round of increase of capital and shares, the issuance of tier II capital bonds for the first time, promoted all-round acceleration
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