China Merchants Bank Co., Ltd Annual Results Announcement

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1 China Merchants Bank Co., Ltd Annual Results Announcement

2 Forward-Looking Statement Disclaimer This presentation and subsequent discussions may contain forward-looking statements that involve risks and uncertainties. These statements are generally indicated by the use of forward-looking terminology such as believe, expect, anticipate, estimate, plan, project, target, may, will or may be expressed to be results of actions that may or are expected to occur in the future. You should not place undue reliance on these forward-looking statements, which reflect our belief only as of the date of this presentation. These forward-looking statements are based on our own information and on information from other sources we believe to be reliable. They relate to future events or our future financial, business or other performance and are subject to a number of uncertainties that may cause our actual results to differ materially. 1

3 Agenda 1 Overview 2 Operational Information 3 Outlook and Strategies

4 Profitability, asset quality and scale maintained balanced development Net profit ROAA ROAE NPL ratio 45,268 51, % 1.39% 24.78% 22.22% 0.61% 0.83% Net profit attributable to the Bank s shareholders Return on average assets attributable to the Bank s shareholders Return on average equity attributable to the Bank s shareholders Total assets Total loans Total deposits 3,408,099 4,016,399 1,904,463 2,197,094 2,532,444 2,775,276 2,214,822 2,583,045 Balance at the end of the year Balance at the end of the year Daily average balance Note: In this presentation, unless otherwise indicated, all financials are on consolidated Group level and all business data are on standalone Bank level; unless otherwise indicated, all data shown in this presentation are based on IFRS and denominated in RMB (hereinafter inclusive) Note: All data on this page is based on consolidated Group level 3

5 Business structure further optimized Proportion of the net non-interest income continued to grow Proportion of the net fee and commission income rose rapidly 21.25% 24.35% 17.34% 21.92% Proportion of profit before tax from retail banking business to profit before tax continued to increase Small and micro enterprise loans increase as a percentage of domestic general loans 32.45% 32.78% 35.84% 22.59% Note: All data on this page is based on standalone Bank level, except for the proportion of net fee and commission income which is based on consolidated Group level 4

6 Operational efficiency continually improved Cost-to-income ratio Risk adjusted return on capital before tax (RAROC) 36.15% 34.69% 29.84% 26.38% Profit before tax per outlet Profit before tax per person Note: All data on this page is based on standalone Bank level 5

7 Proactively coping with the interest rate liberalization reform, with funding cost remaining low Proportion of demand deposits to total retail deposits Average cost of customer deposits 58.26% 58.38% Down by 0.03ppt 1.91% 1.88% Average cost ratio of retail customer deposits Average cost ratio of corporate customer deposits 1.70% 1.62% Down by 0.01ppt 2.07% 2.06% Note: All data on this page is based on standalone Bank level, except for the average cost ratio of customer deposits which is based on consolidated Group level 6

8 Risk compensation capability continued to be enhanced amid the downward pressure of the economy NPL formation rate Ratio of NPLs to loans overdue more than 90 days Loan allowance ratio 0.66% 2.16% 2.22% % NPL allowance coverage ratio Tier 1 capital adequacy ratio Capital adequacy ratio % % 8.34% 9.27% 11.41% 11.14% Note: All data on this page is based on consolidated Group level except for the NPL formation rate which is based on standalone Bank level 7

9 Million ( ) RMB millions ( ) Accelerating transformation of the business model in line with the development of internet finance A leader in the Chinese banking industry in establishing an internet-based business Accelerated transformation of the operating model towards the internet-based and digitalized platform Replacement ratio of counter transactions with electronic channels continues to increase Replacement ratio of online corporate banking settlements continues to increase Establishing a business system integrating online and offline operations: Accelerating the establishment of an internet-based business and developing an integrated offline and online business operating system 90.66% 92.50% 52.40% 54.65% 88.47% 92.42% Bringing potential breakthrough to the business model through platform-based services: Promoting "Small Business E Home", launching a small business services e-platform, developing investment and financing intermediary services, and seeking potential breakthrough to the business model of financial services to small enterprises Innovation in client operations and risk management models Counter replacement ratio of retail e-banking channels Counter replacement ratio in respect of corporate e- banking channels based on "big data": Integrating internal and external data resources, leveraging on big data analysis techniques to bring innovation to client operations and risk management Number of online banking transaction continues its rapid growth Accumulated value of mobile banking transactions 1,077,434 Pushing forward transformation of the operating model in three major business lines through internet and platform based services. Retail financial services: Through integrated online and offline business operating systems together with a big ,934 data platform, we aim to push forward transformation of the retail business model and to accelerate internet-based consumer finance and wealth management services. Corporate financial services: We vigorously expand transaction banking by promoting the Intelligent Supply Chain 2.0 platform, supply chain development and supply chain financing. We also build up the "Small Business E Home" and explore ways to use the internet to provide financial services to small business in ways that bring Accumulated number of corporate online banking transactions Accumulated number of retail online banking transactions potential breakthrough the business model. Interbank financing: We aim to develop an online platform for interbank transactions and to establish a new internet-based asset management platform Note: All data on this page is based on standalone Bank level 8

10 Brand recognition remained strong Euromoney Best Private Banking Services Overall in China 2013 Best Relationship Management Best Range of Investment Products Best UHNWI Services The Asian Banker Awarded the Best Joint Stock Retail Bank in China for the ninth time in 2013 Best Mobile Phone Banking Product in China, 2013 Commendation Award for SME Business in China Financial Times Awarded Best Private Bank in China for the fourth time in a row in 2013 Asiamoney Awarded Best Cash Management Bank in China for the eighth time in a row in 2013, monopolising the awards for best cash management services to large, medium and small businesses in mainland China, winning 10 awards in total The Asset Best Cash Management for SME in China, 2013 Best Custody Specialist in China for the fourth time in 2013 ACCE The World's Best Call Center" and ranked among the top four in the world 2nd China Trade Finance Annual Conference "Best Innovation Bank for Trade Finance Products" Annual Finance Summit of Asia and 2013 Asian Banks Competitive Ranking Report Release Ceremony Best Wealth Management Bank in Asia Hurun Best of the Best Awards "Most Preferred RMB Wealth Management Bank Most Preferred Credit Card Issuer 9

11 Agenda 1 Overview 2 Operational Information 3 Outlook and Strategies

12 (1,000) Expanding valued customer base Number of sunflower-level and above customers Number of private banking customers Number of micro enterprise customers 911 1,065 19,518 25, , ,593 Number of corporate deposit and loan customers Number of high-value wholesale customers Number of cash management customers Number of small enterprise customers 480, ,200 35,200 42,500 ( 户 ) 64,988 74, , , , ,230 Number of corporate deposit customers Number of corporate loan customers Note: All data on this page is based on standalone Bank level. Micro enterprise customers include personal operation, commercial housing, "Shou Fu Yi" and Business All-in-one Card customers 11

13 Net interest income grew steadily Net interest income 11.93% 98,913 88,374 74, % 61,727 Steady growth of interest-earning assets Interest-earning assets 2,921, % 14.22% 14.53% 60.59% Placement with other banks and financial institutions Balances with central bank Investments Loans and advances 3,507,220 2,721, % 2.09% 13.47% 16.53% 15.47% 59.65% Interest-bearing liabilities 81.38% Issued debts Placement from other banks and financial institutions Deposits from customers 3,236, % 18.00% 79.82% Proactively enhanced the risk pricing capability and controlled funding cost to offset the decline of NIM Net interest income Interest expense Net interest margin -21bps 3.03% 2.82% Average cost of customer deposits -3bps 1.91% 1.88% Note: All data on this page is based on consolidated Group level 12

14 Net non-interest income achieved rapid growth Net non-interest income Fee and commission income structure in ,444 34,205 In RMB million except for percentage 2013 Proportion to fee income Growth year-onyear Bank cards fees 8, % 42.64% Settlement and clearing fees 2, % 24.65% Agency services fees 5, % 31.07% Net fee and commission income 29,184 Commissions from credit commitment and loan business Commissions from custody and other trustee businesses 2, % 28.89% 7, % 56.44% Others 5, % % 19,739 Total fee and commission income Fee and commission expense Net fee and commission income 31, % 48.18% (2,181) (6.95%) 52.73% 29, % 47.85% Note: All data on this page is based on consolidated Group level 13

15 Retail loan structure continued to be optimized Balance of retail loans Floating range of weighted average interest rates of newly granted retail loans in RMB 785, , % 9.00% 19.73% 15.80% 26.36% 40.16% 22.95% 29.49% 48.84% 33.28% Others Small and micro enterprise loans Balance of micro enterprise loans Credit card loans Residential mortgage loans Proportion of micro enterprise loans to retail loans Floating range of weighted average interest rates for newly granted small and micro enterprise loans 315, % 29.41% 32.08% 177, % Note: All data on this page is based on standalone Bank level 14

16 (RMB billion) (RMB billion) (RMB billion) (RMB billion) Retail customer relationship continued to be strengthened Daily average balance of retail deposits AUM of retail customers , ,825.2 AUM of sunflower-level and above customers 2,052.5 AUM of private banking customers , Note: All data on this page is based on standalone Bank level 15

17 Wealth management income from retail banking achieved rapid growth Fees and commission income from wealth management services Income from entrusted wealth management 1,378 7,157 5, Income from distribution of third-party trust plan Income from distribution of third-party insurance policies Income from distribution of mutual fund 1,664 1,797 2,140 1,421 1,810 1,141 Note: All data on this page is based on standalone Bank level 16

18 Retail banking credit card business maintained competitive advantage (RMB) (Million) Growth rates in interest income from credit cards and in non-interest income from credit cards Number of credit cards in circulation 41.54% 42.99% Growth in interest income from credit cards Growth in non-interest income from credit cards 2013 Average transaction value per month of each active credit card Percentage of the revolving balances of credit cards and growth in cumulative transaction value 3, % 30.52% 2,690 Percentage of the revolving balances of credit cards 2013 Growth in cumulative transaction value Note: All data on this page is based on standalone Bank level 17

19 Wholesale deposit and loan businesses maintained stable growth Balance of corporate deposits Daily average balance of corporate deposits Balance of corporate loans Floating range of weighted average interest rates for newly granted corporate loans in RMB 1,562,704 1,755,888 1,369,261 1,608,085 1,033,545 1,162, % 12.69% Balance of small enterprises loans as the percentage of domestic corporate loans Floating range of weighted average interest rates for newly granted small enterprises loans 27.00% 22.78% 20.06% 300, , % Series1 Small enterprises loans Small enterprises loans as the Series2 percentage of domestic corporate loans Note: All data on this page is based on standalone Bank level 18

20 (USD million) Sound development of wholesale cross-border finance businesses (USD million) (USD million) Amount of cross-border RMB settlements Amount of inter-bank cross-border RMB clearing service 350, , , ,456 International settlements 424,922 Offshore trade finance balance 3,801 Balance of deposits from offshore customers 9, ,696 2,518 6,288 Note: All data on this page is based on standalone Bank level 19

21 (RMB billion) Number of customers (RMB billion) Rapid growth in emerging wholesale businesses Amount of transactions through the electronic supply chain Debt financing instruments underwritten Balance of assets under custody 788,778 1,168, , ,540 1,857,216 1,080,678 Sales of wealth management products No. of customers under the "Qian Ying Zhan Yi" program Balance of loans to enterprises under "Qian Ying Zhan Yi" program 4, , , ,528 7,581 65,400 Note: All data on this page is based on standalone Bank level 20

22 Non-interest income from wholesale banking business achieved strong growth Net non-interest income from wholesale banking business Non-interest income from international business Income from wholesale asset management business 10,450 14,616 2,691 3,878 2, Income from investment banking business Intermediary business income from cash management Income from asset custody business 2,108 1,601 1,062 1, Note: All data on this page is based on standalone Bank level. Non-interest income from international business includes: onshore corporate business, offshore coordination, and coordination with Hong Kong and New York 21

23 Optimizing operational processes and upgrading operational efficiency Minutes ) ( Degree of operational centralization Percentage of back office functions outsourced Average transaction processing time 28% 33% % 11% Centralized remote authorization to reduce the need for tellers Upgrading core systems to optimize counter process Centralized approvals for retail loans to improve staff efficiency 1,008 branches in the whole bank have already fully implemented remote authorization Remote authorization saves 27 seconds of the transaction processing time compared with on-site authorization, raising the processing efficiency by 33% A cumulative reduction of over 200 teller positions In 2013, the counter transaction processing efficiency overall was up 10% compared to the last year After approvals of retail loans were centralized, the number of loan officers required at head office were only 50% of that required in the branches, and the approval cycle for retail loans was reduced by 50% Note: All data on this page is based on standalone Bank level 22

24 Focus on strengthening credit and liquidity risk management Retail NPL ratio Small and micro enterprise NPL ratio 0.48% 0.64% 1.93% 0.60% Small enterprise non-performing loan rate Micro enterprise non-performing loan rate 2013 Loans extended to overcapacity industries as a percentage of the total LGFV NPL ratio Real estate NPL ratio Liquidity risk management We responded to several liquidity crises in currency markets to ensure stable overall liquidity for the bank as a whole, especially when the risk was notable in 2013: 2.81% 2.43% 0.17% 0.02% 0.77% 0.48% Optimised FTP management systems Appropriately developed proactive liability management through the use of an extensive range of financing tools Actively encouraged the healthy development of the interbank financing and wealth management businesses Further improved liquidity management systems and risk management support systems Note: All data on this page is based on standalone Bank level 23

25 Agenda 1 Overview 2 Operational Information 3 Outlook and Strategies

26 Opportunities Challenges Challenges and opportunities Internationally Domestically Global economic growth is relatively weakened Notable impact of the Global Financial Crisis still persists Global geopolitical situation becomes more complicated Uncertainty in the financial markets increases The profound impact that the tapering of Quantitative Easing by the US will have on the global economy has still not hit Economic reform and structural adjustment has far reaching impetus with slowdown in economic growth Chinese banks are faced with operational challenges as interest rate liberalization gets accelerated Rapid emergence of internet banking has caused certain impact on traditional banking Financial markets become even more complicated and volatile, bringing difficulty to bank's liquidity management Accelerating economic and social transformation and urbanization bring broad prospects for the demand in financial services Rapid accumulation of wealth increases the demand for wealth management The development of the multi-level financial market system increases the emerging bank business opportunities The loosening of exchange rate control and steady advancement in RMB internationalisation increases the opportunities for cross-border finance business Significant progress in IT development provides great potential for internet finance, casting light on the innovation of banks 25

27 Operating strategies Striving for an asset-light banking model to drive smart growth: Thorough upgrade of services to constantly expand core and valued client base Accelerated innovation to strengthen competitive advantages of strategic businesses and new businesses Adjustments of organisational structure and business processes to unleash the potential of new business systems Proactive responses to changes in the external economic situation to comprehensively upgrade risk management levels Enhanced cost control to effectively respond to the impact of interest rate liberalization Exploration of new operating models and profitability drivers in view of the current internet development 26

28 Q&A

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