Banco Santander, S.A. Hong Kong Branch

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1 Banco Santander, S.A. Hong Kong Branch Financial Report 2012 January - June Financial Report 2012 /January June

2 BANCO SANTANDER S.A. HONG KONG BRANCH CONTENTS Branch Information Page Unaudited income statement 3 Unaudited balance sheet 4 Unaudited supplementary financial information 5 Bank Information Group consolidated financial information 11 Financial Report 2012 /January June

3 BANCO SANTANDER S.A. HONG KONG BRANCH Financial Report as at June 30, 2012 Unaudited Income Statement (for 6 months ended June 30) Jun 30, 2012 Jun 30, 2011 Interest Income 335, ,184 Interest Expense (81,174) (102,748) Other operating income: - Gains less losses arising from trading in foreign currencies (61,013) (64,658) - Gains less losses on securities held for trading purposes (587) 15,687 - Gains less losses from other trading activities (437) 22,818 - Net fees and commission income 56,001 91,752 - Others (6,644) 553 Total Income 241, ,588 Operating expenses - Staff expenses (98,904) (91,276) - Rental expenses (13,678) (11,109) - Other expenses (25,283) (26,229) Gains less losses from the disposal of property, plant and equipment and investment properties Total Expenses (137,728) (128,614) Profit before taxation 103, ,974 Tax expenses (22,995) (48,862) Profit after taxation and exceptional items 80, ,112 Financial Report 2012 /January June 3

4 Unaudited Balance Sheet ASSETS Cash and balances with banks (except those included in amount 331,981 2,333,609 due from overseas offices of the institution) Due from Exchange Fund 446 1,242 Placement with banks which have a residual contractual maturity of 471,535 3,040,064 more than one month but not more than 12 months (except those included in amount due from overseas offices of the institution) Amount due from overseas offices of the institution 2,190,571 2,050,867 Trade Bills 387, ,392 Loans and advances to customers 13,039,802 9,445,701 Accrued interest and other accounts 404, ,788 Investment securities 3,199,989 5,649,750 Securities designated at fair value through profit and loss 0 2,510,614 Property, plant and equipment and investment properties 3,773 4,742 TOTAL ASSETS 20,030,085 26,283,769 LIABILITIES Deposits and balances from banks (except those included in amount 671,544 5,446,033 due to overseas offices of the institution) Due to Exchange Fund 0 2,500,000 Deposits from customers - demand deposits and current accounts 9,930 5,758 - savings deposits 130, ,032 - time, call and notice deposits 2,403,287 7,201,412 Certificate of deposit issued 468, ,125 Amount due to overseas offices of the institution 15,832,254 9,263,530 Accrued interest, other liabilities and provisions 514,104 1,047,879 TOTAL LIABILITIES 20,030,085 26,283,769 Financial Report 2012 /January June 4

5 Unaudited Supplementary information Jun 30, 2012 Jun 30, Breakdown of Fee and Commission income from January to June: - Gross fees and commission income 67, ,102 - Gross fees and commission expenses (11,758) (12,350) Net fees and commission income 56,001 91,752 ========= ======== 2. Provisions for loans and advances maintained at Head Office - General EUR 4,243 million on consolidated basis 30,237 21,585 - Specific (allocated to HK branch) 0 0 Banco Santander s provision policy: With regard to specific allowances and provisions, the overall net impairment charges are equal to the specific impairment charges for customer insolvency arising from total exposures less the reversals of such specific allowances or provisions and of asset write-offs in the period. For general provisions, based on its experience of and information on the Spanish banking sector, the Central Bank of Spain has determined the method and amount of the parameters entities must use to calculate the general allowances or provision. The Central Bank of Spain periodically updates the parameters used in the method to reflect changes in the data for the sector. 3. Impaired Loans and Advances - Amount of impaired loans and advances to customers which are individually determined to be impaired Amount of specific provisions made for such loans and advances Value of collateral which has been taken into account in respect of such loans and advances to which the specific provisions relate Percentage of such loans and advances to total amount of loans and advances to customers 0.00% 0.00% There were no impaired advances to banks and other financial institutions as at 30 June 2012 and 31 December 2011; nor were there any impairment allowances made for them on these dates. Financial Report 2012 /January June 5

6 Unaudited Supplementary information (Continue) 4. Derivative transactions - Exchange rate contracts (excluding forward foreign exchange 30,658,976 31,258,531 contracts arising from swap deposit arrangements) - Interest rate derivative contracts 10,314,211 25,334,241 Fair value: 1. Derivative assets - Exchange rate contracts (include interbranch) 198, ,551 - Interest rate derivative contracts 158, , Derivative liabilities - Exchange rate contracts (include interbranch) 201, ,327 - Interest rate derivative contracts 148, ,841 The above derivative assets and liabilities, being the positive or negative marked-to-market value of the respective derivative contracts, represent gross replacement costs, as none of these contracts are subject to any bilateral netting arrangements. Off-balance sheet exposures (notional amounts) Direct credit substitutes 1,017,995 1,168,264 Transaction-related contingencies 2,294,363 1,163,620 Trade-related contingencies 2,344,381 1,607,699 Other commitments 20,070,204 23,479,126 Financial Report 2012 /January June 6

7 Unaudited Supplementary information (Continue) General disclosures Analysis of gross amount of loans and advances to customers by major countries or geographical segments in accordance with the location of the counterparties: % to total % to total advances to advances to HK$ 000 customers HK$ 000 customers Gross amount of advances: - Hong Kong 6,684, % 3,637, % - Australia 3,718, % 3,524, % - China 1,537, % 975, % The related overdue loans: 0 0 The related impaired loans: 0 0 Breakdown of cross-border claims by major countries or geographical segments are classified according to the location of the counterparties after taking into account the transfer of risk. In general, risk transfer applies when advances are guaranteed by a party in a country which is different from that of the counterparty or if the advances are on an overseas branch of a bank whose head office is located in another country. Bank and Public other financial sector institutions entities Others Total As at Jun 30, 2012 (HKD million) Western Europe of which - Spain 2, ,241 Asia Pacific excluding Hong Kong of which - China ,356 3,216 - Australia ,856 3,866 The related overdue loans: The related impaired loans: As at Dec 31, 2011 (HKD million) Western Europe of which - Belgium 1, ,256 - Spain 2,152 2, ,665 Asia Pacific excluding Hong Kong of which - China 3, ,736 7,357 - Australia 0 0 3,626 3,626 The related overdue loans: The related impaired loans: Financial Report 2012 /January June 7

8 Unaudited Supplementary information (Continue) Sector Information Analysis of gross advances to customers and the percentage of secured advances classified into following industry categories: HK$ 000 Collateral or Other security (%) HK$ 000 Collateral or Other security (%) Loans and advances for use in HK Industrial, commercial & financial: - Electricity and gas 2,243, ,941, Financial concerns 7, , Transport and transport equipment 62, , Manufacturing 102, , sub-total 2,415,183 2,206,080 Trade Finance 2,570, ,784, Loans and advances for use outside HK 8,054, ,454, TOTAL: 13,039,802 9,445,701 Overdue or rescheduled advances Analysis of overdue advances to customers % to total % to total advances to advances to HK$ 000 customers HK$ 000 customers - 6 months or less but more than 3 months % % - 1 year or less but more than 6 months % % - more than 1 year % % Rescheduled advances to customers % % There were no advances to banks and other financial institutions which were overdue for over 3 months as at 30 June 2012 and 31 December 2011; nor were there any rescheduled advances to banks and other financial institutions on these dates. Financial Report 2012 /January June 8

9 Unaudited Supplementary information (Continue) Non-Bank Mainland exposures Total direct non-bank Mainland exposures and the individual impairment allowances were as follow: As at Jun 30, 2012 (HKD million) Type of counterparties On-balance sheet exposure Off-balance sheet exposure Total Specific provisions - Mainland entities 7,010 1,258 8, Companies and individuals outside Mainland where the credit is granted for use in Mainland Other counterparties the exposures to whom are considered by the AI to be non-bank Mainland exposures Total 8,367 1,258 9,625 0 As at Dec 31, 2011 (HKD million) Type of counterparties On-balance sheet exposure Off-balance sheet exposure Total Specific provisions - Mainland entities 3, , Companies and individuals outside Mainland where the credit is granted for use in Mainland 1, , Other counterparties the exposures to whom are considered by the AI to be non-bank Mainland exposures Total 5, ,898 0 Financial Report 2012 /January June 9

10 Unaudited Supplementary information (Continue) Currency Risk The net positions or net structural positions in foreign currencies are disclosed when each currency constitutes 10% or more of the respective total net position or total net structural position in all foreign currencies. As at Jun 30, 2012 (HKD million) USD EUR CNY Total Spot Assets 10,329 2, ,139 Spot Liabilities (13,612) (5,659) (1) (19,272) Forward purchases 16,971 3,060 2,694 22,725 Forward sales (13,691) (211) (2,694) (16,596) Net option position Net long (short) position (3) (2) 1 (4) As at Dec 31, 2011 (HKD million) GBP USD EUR AUD Total Spot Assets 2 13,023 4,052 3,306 20,383 Spot Liabilities 0 (5,686) (14,927) (85) (20,698) Forward purchases 0 11,857 12, ,209 Forward sales 0 (19,196) (1,256) (3,439) (23,891) Net option position Net long (short) position 2 (2) (1) 4 3 Delta-weighted position method is used to calculate net options position of the branch. Liquidity Jun 30, 2012 Jun 30, 2011 The average liquidity ratio for the financial period of January to June 33.62% 33.93% Financial Report 2012 /January June 10

11 BANCO SANTANDER S.A. (Including Hong Kong Branch) Financial Report as at June 30, 2012 (based on Banco Santander S.A. report for the period ended June 30, 2012) CAPITAL AND CAPITAL ADEQUACY EUR Million EUR Million Total shareholders equity 81,820 82,859 Capital adequacy ratio 13.50% 13.56% As regards capital ratios, Group Santander s eligible shareholders equity was determined in accordance with the criteria of the Bank for International Settlements. OTHER FINANCIAL INFORMATION Jun 30, 2012 Jun 30, 2011 EUR Million EUR Million Total assets 1,292,677 1,251,525 Total liabilities 1,210,857 1,168,667 Total advances 788, ,525 Total customer deposits 644, ,533 Jun 30, 2012 Jun 30, 2011 EUR Million EUR Million Pre-tax profit 4,839 5,211 (for 6 months ended June 30) Statement by Chief Executive This Disclosure Statement is in compliance with Banking (Disclosure) Rules and the recommendations as stated in the Hong Kong Monetary Authority s Supervisory Policy Manual on Guideline on the Application of the Banking (Disclosure) Rules. To the best of my knowledge, the disclosure is not false or misleading. Derek Gibson Chief Executive Banco Santander S.A., Hong Kong Branch Financial Report 2012 /January June 11

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