CHINA MERCHANTS BANK CO., LTD. Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
招商銀行股份有限公司
CHINA MERCHANTS BANK CO., LTD.(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 03968) FIRST QUARTERLY REPORT OF 2016Pursuant to the regulations of the China Securities Regulatory Commission, the Company is required to publish a quarterly report for each of the first and third quarters.
All financial information set out in this quarterly report is unaudited and prepared in accordance with the International Financial Reporting Standards.
This announcement is made by the Company pursuant to Rule 13.09 and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).
§1 IMPORTANT NOTICEThe Board of Directors, the Board of Supervisors, directors, supervisors and senior management of China Merchants Bank Co., Ltd. will individually and jointly accept full responsibility for the truthfulness, accuracy and completeness of the contents in this report, and confirm that there are no false representations, misleading statements, or material omissions contained herein.
None of the directors, supervisors and senior management has made any statement that he/she is unable to warrant or object to the truthfulness, accuracy and completeness of the information contained in the quarterly report.
The 46th meeting of the Ninth Session of the Board of Directors of the Company has approved the first quarterly report of 2016 of the Company through voting by correspondence. 16 out of the 16 directors attended and voted at the meeting.
All financial statements set out in this report are prepared in accordance with the International Financial Reporting Standards and are unaudited. The unaudited quarterly report prepared by the Company in accordance with the PRC Accounting Standards has been published on the website of Shanghai Stock Exchange. Unless otherwise stated, all monetary sums stated in this report are expressed in RMB.
Hereinafter "the Company", "the Bank" and "China Merchants Bank" mentioned in this report are all referred to China Merchants Bank Co., Ltd.; and "the Group" is referred to China Merchants Bank Co., Ltd. and its subsidiaries.
Mr. Li Jianhong, Chairman of the Board of Directors of the Company, Mr. Tian Huiyu, the President, Mr. Li Hao, the First Executive Vice President and Chief Financial Officer, and Mr. Wang Tao, who is in charge of the Finance and Accounting Department, hereby make representations in respect of the truthfulness, accuracy and completeness of the financial statements contained in this quarterly report.
-
Major accounting data and financial indicators of the Group
(Unless otherwise stated, amounts expressed in millions of RMB)
Increase/decrease at the end of the
At the end of the reporting period 31 March 2016At the end of last year 31 December
2015
reporting period as compared to
the end of last year
(%)
Total Assets
5,432,042
5,474,978
(0.78)
Equity attributable to shareholders of
the Bank
379,140
360,806
5.08
Net assets per share attributable to shareholders of the Bank (in RMB
Yuan) 15.03 14.31 5.03
The reporting period January to March 2016The corresponding period of last
year January to March 2015
Increase/Decrease of the reporting
period as compared to the corresponding
period of last year
(%)
Net cash flow from operating
activities (284,986) 31,161 (1,014.56)
Net cash flow from operating activities per share
(in RMB Yuan) (11.30) 1.24 (1,011.29)
Increase/Decrease of the reporting
The reporting period January to March 2016The corresponding period of last
year January to March 2015
period as compared to the corresponding
period of last year
(%)
Net operating income
58,353
50,842
14.77
Net profit attributable to shareholders
of the Bank
18,350
17,220
6.56
Basic earnings per share attributable to shareholders of the Bank (in
RMB Yuan) 0.73 0.68 7.35
Diluted earnings per share attributable to shareholders of the Bank (in
RMB Yuan) 0.73 0.68 7.35
Annualized weighted average return on net assets attributable to
shareholders of the Bank (%) 19.84 21.33
Decrease of
1.49 percentage
points
-
Explanation on the differences between the financial statements prepared in accordance with the PRC Accounting Standards and the International Financial Reporting Standards
In the financial statements prepared by the Group in accordance with the PRC Accounting Standards and the International Financial Reporting Standards, there has been no difference in the net profit attributable to the Bank's shareholders for the reporting period ended 31 March 2016 and the equity attributable to shareholders of the Bank at the end of the reporting period.
-
Analysis of capital adequacy ratios as at the end of the reporting period
The Company continued to optimize its business structure and enhance capital management, and has satisfied all capital requirements of China Banking Regulatory Commission (the "CBRC") during the reporting period. The capital adequacy ratio of the Company generally remained stable and the Company has maintained a balanced growth of internal capital.
As at 31 March 2016, the capital adequacy ratio and the Tier 1 capital adequacy ratio of the Group under the advanced approach were 13.94% and 12.13%, respectively.
The Group At the end of the reporting period 31 March 2016At the end of
last year 31 December
2015
Increase/decrease at the end of the reporting period as compared to
the end of last year (%)
(in millions of RMB, except for percentages)
Capital adequacy ratios under the advanced approach(1)1. Net core Tier 1 capital 365,434 347,434 5.18
2. Net Tier 1 capital 365,446 347,444 5.18
3. Net capital 419,951 403,409 4.10
Core Tier 1 capital adequacy ratio
12.13% 10.83% Increase of 1.30 percentage pointsTier 1 capital adequacy ratio 12.13% 10.83% Increase of 1.30
percentage points
Capital adequacy ratio 13.94% 12.57% Increase of 1.37 percentage points
Information on leverage ratio(2)Total on and off balance sheet assets after adjustment
6,233,876 6,275,592 (0.66)Leverage ratio 5.86% 5.54% Increase of 0.32 percentage point
Note 1: The "advanced approach" refers to the advanced measurement approach set out in the "Capital Rules for Commercial Banks (Provisional)" issued by CBRC on 7 June 2012 (same as below). Under the advanced approach, the core Tier 1 capital adequacy ratio and the Tier 1 capital adequacy ratio of the Group and the Company remain consistent. In accordance with the requirements of the advanced approach, the scope of entities for calculating the capital adequacy ratio of the Group shall include China Merchants Bank Co., Ltd. and its subsidiaries. The scope of entities for calculating the capital adequacy ratio of the Company shall include all the domestic and overseas branches and sub- branches of China Merchants Bank. As at 31 March 2016, the Group's subsidiaries for calculating its capital adequacy ratio included Wing Lung Bank Limited, CMB International Capital Corporation Limited, CMB Financial Leasing Co., Ltd. and China Merchants Fund Management Co., Ltd. During the parallel run period when the advanced capital measurement approaches were implemented, a commercial bank shall use the capital floor adjustment co-efficients to adjust the amount of its risk-weighted assets multiplying the sum of its minimum capital requirement and reserve capital requirement, total amount of capital deductions and the provision for excessive loan loss which can be included into capital. The capital floor adjustment co-efficients shall be 95%, 90% and 80% respectively in the first year, the second year, and the third and subsequent years during the parallel run period. 2016 is the second year since implementation of the parallel run period.
Note 2: Since 2015, the leverage ratio shall be calculated based on the "Measures for the Administration of the Leverage Ratio of Commercial Banks (Revised)" promulgated by CBRC on 12 February 2015. In 2014, the leverage ratio and total on and off balance sheet assets were still calculated based on the "Measures for the Administration of the Leverage Ratio of Commercial Banks" promulgated by CBRC on 1 June 2011.
As at 31 March 2016, the capital adequacy ratio and the Tier 1 capital adequacy ratio of the Company under the advanced approach were 13.66% and 11.85% respectively.
The Company At the end of the reporting period 31 March 2016At the end of
last year 31 December
2015
Increase/decrease at the end of the reporting period as compared
to the end of last year (%)
(in millions of RMB, except for percentages)
Capital adequacy ratios under the advanced approach1. Net core Tier 1 capital 325,387 307,888 5.68
2. Net Tier 1 capital 325,387 307,888 5.68
3. Net capital 375,121 360,460 4.07
Core Tier 1 capital adequacy ratio
11.85% 10.38% Increase of 1.47 percentage pointsTier 1 capital adequacy ratio 11.85% 10.38% Increase of 1.47
percentage points
Capital adequacy ratio 13.66% 12.15% Increase of 1.51 percentage points
China Merchants Bank Co. Ltd. issued this content on 28 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 April 2016 12:37:54 UTC
Original Document: http://file.cmbchina.com/announcement/201604/a61e2593-0198-4d7f-827d-53bc0a867d52.pdf
