Delivering Growth and Excellence

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1 Delivering Growth and Excellence Bank of China (Luxembourg) S.A. Stockholm Branch Oct 22 th,2014

2 Delivering Growth and Excellence A. Bank of China Overview B. Bank of China Stockholm Branch C. Shanghai Free Trade Zone D. Cross-board RMB Business 2

3 Longstanding History in Chinese Banking Founded in 1912, BOC has 102 years of history Wholly-owned subsidiaries: BOC International Holdings Ltd; BOC Group Insurance Co., Ltd; BOC Group Investment Ltd; BOC Investment Management Co., Ltd; BOC Aviation Private Ltd; 1912 Started operations as central bank, the premises of the former Da Qing Bank Established BOC London Agency as the first overseas branch of the Chinese banks Issued China s first overseas bond Became the specialized foreign exchange bank Issued first BOC HK Dollar and Macau Pataca notes Issued first credit card in China 2002 BOC (HK) was successfully listed on the HKEX Introduced RBS,Temasek, UBS and ADB as strategic investors Established BOC International Holdings, the investment banking platform Founded BOC Limited Centennial of BOC 2006 Successful IPO in HK and Mainland

4 The Most Globalized Bank in China Global Network for Customers Global Needs Have 10,145 branches in mainland China; Cover 38 countries and regions with more than 970 outlets abroad; Correspondent relationships established with more than 1,500 banks located in 190 different countries and regions. Germany Frankfurt Hamburg Korea Seoul Europe France Germany Hungary Luxembourg Russia Switzerland United Kingdom Sweden Poland ASEAN Indonesia Malaysia Philippines Singapore Thailand Vietnam Japan Osaka Tokyo Yokohama Australia Melbourne Perth Sydney 4

5 The Most Diversified Bank in China A Comprehensive Range of Financial Services and Products Investment Banking Core Business Fund Management Insurance Commercial Banking Aircraft Leasing Direct Investment 5

6 Robust Profitability through the cycles Improving Return Ratios 25.00% 2.50% 20.00% 16.53% 18.92% 18.32% 18.13% 18.04% 2.00% 15.00% 13.42% 13.85% 14.37% 1.50% 10.00% 0.95% 1.09% 1.01% 1.09% 1.15% 1.17% 1.19% 1.23% 1.00% 5.00% 0.50% 0.00% % ROE ROA 6

7 Consistent Net Profit and Dividend Growth Net Profit CAGR Over 20% 250, , , ,000 50, % 45% 44% 39% 35% 35% 35% 139, , , ,793 24% 81,148 42,624 64,039 56,229 32,999 35,537 40,756 43,268 48,851 54,755 25,384 10, Net profit attributable to shareholders (RMBmn) Total dividend (RMBmn) Dividend payout ratio 60% 50% 40% 30% 20% 10% 0% 7

8 Financial Highlights (RMB bn, except for EPS) 1A2013 1A2014 Financial Highlights Net Interest Income Operating Income Operating Profit Profit for the Period Total Assets 2 13, ,469.1 Loans and Advances 2 7, ,424.6 Due to Customers 2 9, ,190.6 Shareholders' Equity (excluding non-controlling interest) EPS (RMB) Key Ratios (%) RoAA RoAE NIM Cost to Income Loan to Deposit Ratio NPL Ratio Coverage Ratio Tier 1 CAR Total CAR Source: Company filings. Note 1: Calculated under domestic regulations. 2: Financial data as of December , 2012 and 2013 and June 30, 2014,

9 Bank of China Stockholm Branch 9

10 Establishment in Nordic Region BOC Stockholm branch is the first office which was established by Chinese financial institutions in Nordic regions. It covers the whole Nordic. BOC Stockholm branch was opened in July 2012 and it is located in Birger Jarlsgatan 28 in central Stockholm. Affiliated to Bank of China (Luxembourg) S.A. (regional European center) RMB clearing business launched in Euro Zone by Luxembourg Branch as the first clearing bank authorized by the Luxembourg government. 13 employees based in Stockholm. 10

11 Diversified Business in BOC Stockholm Finance Fund Commercial Bank Other Bilateral, Syndicated, and Club transactions Corporate Finance Structured Finance Aviation, Shipping, Telecom, Commodity, Property Money Markets CDs, Deposits Bond Issuance and Distribution QFII Foreign Exchange Account Service(deposits, payment, remittance) Payment and Remittance Cash Management Trade Settlement Co-operation with SEK Assistance on the updated regulatory policies and regulations of Shanghai Free Trade Zone Trade Finance Interest Rate Swap RMB services Supply Chain Finance Project Finance 11

12 Shanghai Free Trade Zone 12

13 Financial services in Shanghai FZT What can be done now? What can be done in the future? Settlement Exchange 自由贸易账户现在可以做什么? Credit Trade Finance Guarantee? Cross-border financing? Domestic and overseas capital investment projects? QDII 13 13

14 Shanghai Free Trade Zone Gradual relaxation on the first line with efficient control mechanisms at the back Promote financial reform on a trial basis, and from four aspects: 1. cross-border use of RMB, 2. capital account convertibility, 3. interest rate liberalization, 4. foreign exchange management Innovative account management framework: FTA for residents in FTZ ; FTN for non-residents; corporations in FTZ can set up special RMB deposit accounts for handing intra-group two-way cross-border RMB cash pooling or centralized receive and payment business under current account Allowing non-bank FIs and corporates in FTZ to borrow RMB fund from the offshore market, subject to Macro prudential policy parameter or quota management framework Opportunities: RMB Financing demand from FTZ enterprises and banks RMB FX service for FTZ banks Wealth management services for FTZ residents Promote further development of RMB derivatives market 14

15 Registration for Foreign- Funded Enterprise Steps of Industrial and Commercial STEP 1 Name approval STEP 2 Negative list comparing STEP 3 Submitting "one application form" online STEP 4 Submitting the materials by one window service STEP 5 Approval (filing) by relative departments STEP 6 Getting the license from one unified window 15

16 Rgistration for Foreign- Funded Enterprise Steps of Industrial and Commercial Negative List Comparing Objects Filing (approval) Admittance Navigate Other Type Online Application Submitting Materials by one-window service Enterprises Filing (evaluation and approval) Enterprise Registration Organization Code Certification Registration Get the license from one unified window Tax Registration For more details please visit: 16

17 Introduction for FTZ Account Opening? Account System Investment financing exchange RMB Foreign Currency? Pre-approved decoupling Cross-border RMB Personal cross-border investment FX funds centralized operation Interest rate marketization Open capital markets External financing facilitation Diversified of risk hedging instruments 17

18 FT Products offered by BOC Account Opening BOC Shanghai subsidiaries provide account opening service at Free Trade Zone Outward Remittance Funds transfer within, outside FTZ and abroad in regular and direct terms Exchange Provide currency exchange which near CNH prices International Settlement Offer a variety of banking business, such as documents, collection and guarantee Trade Finance New banking business, such as, supply chain products, trade finance products Loans Provides abundant loans and facilities 18 18

19 Cross-board RMB Business 19

20 RMB Internationalization - Progress 20

21 RMB Internationalization Global Reach Growing bilateral currency swap lines promote the use of RMB in global trade and finance, also a step towards RMB s achievements as a reserve currency Bilateral currency swap agreements: 23 countries and regions, RMB 2.5 trillion Several central banks/monetary authorities have already borrowed RMB funds from the currency swaps 21 21

22 RMB Internationalization RMB Flows RMB Funds Loans & Deposits RMB Bond Issuers Securities Settlement RMB 261.8bn of assets under management Source: LFF Loans : RMB 73bn Source: LFF RMB 32.9bn of issuance listed in Luxembourg Source: LFF More than 38,000 transactions in Q giving a total turnover of RMB 408 bn Source: LFF Deposit: RMB 79.4 bn Source: LFF 46 RMB bonds listed from international issuers Source: LFF BOC has a RMB business hub in Luxembourg and plans to become as a leading international RMB center in the Euro area. A huge pool of RMB in Luxembourg and is ranked #7 in the world for RMB payments value (excluding China and Hong Kong) in July 2013, making it the second highest place in Euro country. More than 58% of the payments value between Luxembourg and China / Hong Kong is denominated in RMB in July 2013 compared to 42% in July

23 Cross-border RMB Loan has been launched in designated area Mainland enterprises in some regions are allowed to borrow RMB from offshore market, with tenors and interest rates to be set by the borrower and the lender Designated Regions Borrowing from Details Qianhai, Shenzhen Hong Kong Loan proceeds must be used solely for construction and development in Qianhai Filed for record: RMB 36.0 billion Shanghai Free Trade Zone Entire offshore markets Loan amount limit = (1) or (1.5) actual paid-in capital * macro prudential policy parameter Can only be used for operation inside the FTZ Loan amount: RMB10 billion (45 counts) Suzhou Industrial Park Tianjin Eco-city Kunshan Industrial Experimental Zone Singapore Singapore Within the same group of Taiwanese companies Loan can be used inside or outside of Suzhou, as long as the loans are invested into real economy Loan amount: RMB 900 million More than 10 companies signed letters of intent with six Singapore-based banks for RMB 800 million loans Allow two-way RMB lending for Taiwanese corporates Can only be used by entities within the Kunshan area 23

24 Cross-Border RMB Cash Pooling Business Enterprises established in the Shanghai Free Trade Zone can conduct cross-border RMB cash pooling The enterprises must be incorporated in the FTZ and have real business operation or investment activity. Eligibility Other than the Group s member enterprises, the cross-border centralized payment and receipt of RMB funds for current account transactions can also be extended to include the Group s external supply chain and enterprises with close trade relationships. Account opening The lead company must open a dedicated RMB deposit account with a selected banking institution which will be used to handle the Group s two-way cross-border RMB cash pooling businesses. This account shall not be used for funds of other purposes. Source of Capital RMB funds being pooled be limited to cash flows generated from the corporation s operating activities and industrial investment activities. The cash flows generated from financing activities are currently not allowed to be centralized in the same pool. Amount Total Cash pooling amount (by end of May 2014): 7.8 billion (17 counts) 24

25 Cross-border bilateral RMB cash pool structure Cross-border Bilateral RMB Cash Pool Business Mode Only can be realized in FTZ in China by now. Achieving Centralized Collection & Payment Collect/Allocation Collect/Allocation without line of limit RMB Cash Pool By establish a FTZ entity, foreign companies Chinese subsideries can use FTZ company as the main account, setting up a cross-border RMB cash pool to connect inbound and outbound RMB cash. 25

26 Delivering Growth and Excellence Thank You!

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