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BANK of SUZHOU CO., LTD Annual Report 2012

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BANK OF SUZHOU CO., LTD Annual Report 2012 1 CONTENTS IMPORTANT NOTICE……………………………………………………..…3 PRESIDENT’S ADDRESS…………………………………………………….4 ANNUAL AWARDS RECEIVED……………………………………………..5 CHAPTER І COMPANY INFORMATION………………………………….6 CHAPTER II FINANCIAL SUMMARY……………………………………..7 CHAPTER III EQUITY STRUCTURE AND SHAREHOLDERS………..12 CHAPTER IV DIRECTORS, SUPERVISORS, SENIOR MANAGEMENT & EMPLOYEES………………………………………………………………17 CHAPTER V COMPANY MANAGEMENT……………………………….32 CHAPTER VI GENERAL MEETING OF SHAREHOLDS…………........59 CHAPTER VII IMPORTANT ISSUES……………………………………..61 CHAPTER VIII CORPORATE SOCIAL RESPONSIBILITY……………63 CHAPTER IX FINANCIAL REPORT (SEETHE APPENDIX)…………..65 2 Important Notice The Board of Directors, the Board of Supervisors, Directors, Supervisors and Senior Management members of Bank of Suzhou Co., Ltd undertake that the information in this report contains no false record, misleading statement or material omission, and assume individual and joint and several liabilities to the authenticity, accuracy and completeness of the information in this report. This Annual Report was passed through voting by correspondence in the 27th conference of the 1st session of board of directors on Apr. 28, 2013. The terms of “this Company”, “this bank” and “Bank of Suzhou” herein shall refer to Bank of Suzhou Co., Ltd.; “this Group” shall refer to Bank of Suzhou Co., Ltd. and its affiliated companies. The financial data and indices herein are prepared in accordance with Chinese Accounting Standards, and expressed in RMB currency. The auditor of this Company, Ernst & Young has conducted an audit of the financial report 2012 prepared in accordance with Chinese Accounting Standards, and issued a standard audit report with unreserved assent. The Board of Directors of Bank of Suzhou Co., Ltd. Apr. 28, 2013 The Board Chairman Wang Lanfeng, President Xu Ting, Vice-President Gu Ping in charge of accounting guarantee that the contents of financial report are true, accurate and complete. 3 PRESIDENT’S ADDRESS 2012 is a year when China encountered serious challenges in economy as well as deep-going transforms in finance. In 2013, by keeping with the tide of the times and with the enterprising and stable-yet-progressive spirit, Bank of Suzhou exploits the advantages of being a medium-and-small bank and characteristic bank, and following the concept of “small uppermost and people orientated”, commits to carrying out the tenet of “serving the medium-and-small enterprises, the public and the regional economy”, moving towards the development road of modern commercial banks in a vibrant manner. In the year 2012 just closed, thanks to the great concerns of municipal committee and government, the firm support from our shareholders, and the strenuous efforts of all our staff, Bank of Suzhou received encouraging results, and the market status and influence got remarkably improved. As to the end of 2012, the overall assets of this bank totaled up to 128.42 billion Yuan, the total deposit balance in RMB and foreign currency reached 70.662 billion Yuan, the loan balance in RMB and foreign currency reached 42.999 billion Yuan; the total profit came up to 1.763 billion Yuan, hit another new high; while realizing the profit growth, this bank maintains excellent key supervision indices and stable assets quality, and has the provision coverage ratio, capital adequacy ratio and core capital adequacy ratio kept at 300.73%, 17.53% and 16.77% respectively. In the future, Bank of Suzhou will centers on the people's livelihood, pursues new opportunities of business development, and takes advantage of the sustaining financial innovation, high-quality customer service, moderate operation style and excellent business achievements, in order to become a leading enterprise of Suzhou in regional financial development with great core competitiveness and individual operation characteristics, so as to create more value and higher return for the investors, society and employees. President: Wang Lanfeng Bank of Suzhou Co., Ltd. April 28, 2013 4 Annual Awards Received 2012 is a harvest year for this Company in brand equity, social evaluation and reputation. By virtue of the moderate operation performance, good corporate culture and strong management capability, this Company received ten significant awards, including: National Excellent Settlement Member on Inter-bank Bond Market in 2012; Top 100 Banks in RMB Market Transactions in 2012; Preferred Financial Service Bank for Medium and Small Enterprises for Suzhou Merchants in 2012; Advanced Unit for Duty-related Crimes Prevention in Suzhou 2010-2012; Class-A Bank in Foreign Exchange Control Policy Enforcement in Suzhou 2012; Advanced Unit in Foreign Exchange Administration of Direct Investments in Suzhou 2012; Municipal Advanced Unit in Financial IC Card Application 2012; Municipal Advanced Unit in Cash Management 2012; Advanced Group Member of Suzhou Financial Institute; Advanced Group of SIP Financial Safety. 5 Chapter I Company Information I. Legal Chinese name of the Company: 苏州银行股份有限公司（“苏州银行” for short） Legal English name of the Company: BANK OF SUZHOU CO., LTD（ “BSZ” for short） II. Legal representative: Wang Lanfeng III. BOD secretary: Jiang Li IV. Contact address: 728 Zhongyuan Road, Suzhou City, Jiangsu Province Postal code: 215028 Tel: 86-512-69868130 Fax: 86-512-69868124 Email: [email protected] V. Registered address: 143 N. Dongwu Road, Suzhou City, Jiangsu Province Postal code: 215128 Website: www.suzhoubank.com Email: [email protected] VI. Information disclosure website designated by the Company: www.suzhoubank.com Annual report deposit place: BOD office of the Company VII. Counselor in Chinese Mainland: Jiangsu Wuzhou Xinyou Lawyer’s Office VIII. Chinese CPA office: Ernst & Young Shanghai Office (special general partnership) Office address: 50F, Shanghai World Financial Center, 100 Century Avenue, Pudong New Area, Shanghai IX. Date of initial registration: Dec. 24, 2004 Address of initial registration: 143 N. Dongwu Road, Suzhou City, Jiangsu Province X. Corporation Business License No.: 320500000039152 XI. Tax Registration Certificate No.: SZGSD Zi 320500768299855 SDS Zi 320500768299855 6 Chapter II Financial Summary I. Major Financial Data and Indices 1. Consolidated basis During the report period 2012 2011 2012 vs 2011 Operating achievements (in million RMB Yuan) Growth rate (%) Net interest income 3,192.45 2,348.85 35.92 Net non-interest income 262.38 78.73 233.25 Operating income 3,454.83 2,427.58 42.32 Business and management fee 1,232.16 805.06 53.05 Asset impairment loss 293.82 80.55 264.75 Operating profit 1,721.17 1,418.10 21.37 Total profits 1,763.29 1,429.30 23.37 Net profit 1,383.33 1,132.62 22.14 Net profit attributed to the shareholders of 1,356.46 1,119.28 21.19 parent company Net profit after deduction of non-recurring 1,351.74 1,124.22 20.24 profit and loss Net profit attributed to the shareholders of parent company after deduction of 1,359.40 1,115.09 21.91 non-recurring profit and loss Net cash flow from operating activities 20,339.50 10,132.19 100.74 Per share (RMB Yuan/ share) Growth rate (%) Earnings per share 0.46 0.38 22.14 Earnings per share after deduction of 0.45 0.37 20.24 non-recurring profit and loss Net cash flow from operating activities per 6.78 3.38 100.74 share Profit ability indices (%) Changes in percentage Average rate of return on total assets 1.31 1.63 -0.33 Weighted average rate of return on 9.63 8.44 1.19 common stockholders' equity Weighted average rate of return on common stockholders' equity after 9.56 8.38 1.18 deduction of non-recurring profit and loss Cost-to-income ratio 35.98 33.21 2.77 Proportion of handling charge and 5.07 1.92 3.15 commission income in operating income Net profit margin 2.56 2.89 -0.33 Net interest margin 3.09 3.46 -0.37 At the end of report period 2012 2011 2012 vs 2011 Scale indices (in million RMB Yuan) Growth rate (%) Total assets 128,420.26 83,474.43 53.84 7 Total loans and advances 42,999.30 32,305.72 33.10 Total debts 113,509.69 69,655.04 62.96 Total money deposits received 70,662.18 52,906.49 33.56 Equities attributed to the shareholders of 14,759.77 13,692.49 7.79 parent company Net assets per share attributed to the shareholders of parent company (RMB 4.92 4.56 7.79 Yuan/ share) Assets quality indices (%) Changes in percentage Non-performing loan ratio 0.85 N/A N/A Provision coverage 300.73 N/A N/A Loan provision coverage 2.57 2.57 0.00 Capital adequacy indices (%) Capital adequacy ratio 17.53% N/A N/A Core capital adequacy ratio 16.77% N/A N/A Total equities to total assets ratio 11.61 16.56 -4.95 Notes: 1. Average rate of return on total assets =Net profit /Average balance of opening and closing total assets. 2. Weighted average rate of return on common stockholders' equity = Net profit / Weighted average balance of owner’s equities 3. Cost-to-income ratio = (Business & management fee + other business cost) /Operating income. 4. Net profit margin=Average rate of return on interest-bearing assets – Average cost rate of interest-bearing debts. 5. Net interest margin= Net interest income / Average balance of interest-bearing assets. 6. Non-performing loan ratio = Non-performing loan balance/ Total loans and advances. 7. Provision coverage = Loans impairment reserve / Non-performing loan balance. 8. Loan provision coverage = Loans impairment reserve / Total loans and advances. 9. Capital adequacy ratio is unaudited. 2. Parent company’s basis During the report period 2012 2011 2012 vs 2011 Operating achievements (in million RMB Yuan)
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