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Chinatrust FHC
Analyst MeetingFinancial Review of 4Q10
February 23, 2011
Investor Relations
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Chinatrust 1
DISCLAIMER
THE FINANCIAL INFORMATION IN THESE MATERIALS AS OF AND FOR
THE TWELVE MONTHS ENDED DECEMBER 31, 2010 ARE PRELIMINARY.
CHINATRUST FHC EXPECTS TO FILE ITS UNAUDITED INTERIMFINANCIAL STATEMENTS, WHICH ARE SUBJECT TO REVIEW BY ITS
AUDITORS, WITH THE ROC SECURITIES AND FUTURES BUREAU ON OR
ABOUT APRIL 30, 2011.
This presentation contains forward-looking statements and information that is, statementsrelated to future, not past, events. These forward-looking statements are based on the current
expectations and certain assumptions made by Chinatrust and are therefore subject to certain
risks and uncertainties. By nature, these risks and uncertainties could cause actual results,
performance or achievements to differ materially from those indicated. Chinatrust disclaims
any intention or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
These materials are not an offer for sale of securities in the United States. Securities may not
be sold in the United States absent registration or an exemption from registration under the
U.S. Securities Act of 1933, as amended.
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Chinatrust 2
20102010 && 44Q10 PerformanceQ10 Performance
20112011 OutlookOutlook
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Chinatrust 3
2010 & 4Q10 Performance Highlight
Earningsmomentum is
returning
Business momentum on NII regained in 2010. Driven by strong loangrowth and mild NIM expansion, NII grew 3.2% QoQ & 10.4% YoY.
Fee income grew 5.2% QoQ & 12.7% YoY. In particular, attributing to
heated-up investment needs, major growth driver - wealth managementfees - showed superior performance, grew 17.9% QoQ & 28.3% YoY.
Capitalremained
strong
Capital position remained strong with CFHCs CAR at 116.76%. Onthe bank level, CAR was 14.62% & Tier 1 ratio was 11.55%.
Asset qualitystrengthened
Asset quality remained benign, NPL ratio stood low at 0.58%,
coverage ratio boosted up to 220% as of year-end.
Attributing to sound asset quality and good recoveries, provisioncharges throughout 2010 kept at low level, reduced 85% YoY. Yet QoQprovision level has increased by NT$ 1.1 billion to partially prepare forArticle 34 implementation.
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Chinatrust 4
CFHCs net profit breakdown
CFHCs net profit breakdownNT$ mm
13,1811,079 53 (264)85 14,134
2,431
CTCB CTIB CTS CTAMC &CTVC &
TW Lottery
CTFHC
CFHC 4Q10 CFHC 3Q10
2 CFHC 2010 CFHC 2009
3,236292 (12)
(24)(376)
3,1173,502
1
1
QoQ -11.0%
YoY +481.4%
CFHCs numbers are presented on a consolidated basis.
1. 4Q10 & 2010 numbers are preliminary and have yet to be reviewed by our auditors.2. CTFHC (on a non-consolidated basis) is an adjustment item for compiling consolidated statement.
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Chinatrust 5
CFHCs profitability ratios
1.32
0.14
1.511.49
-1.46
2006 2007 2008 2009 2010
1.32
0.14
1.461.34
-1.31
Retroactively adjusted EPS & reported EPS, after taxNT$
Reported EPSRetroactively adjusted EPS1
2
10.50%
1.21%
12.43%12.14%
-11.80%
2006 2007 2008 2009 2010
CFHCs numbers are presented on a consolidated basis.1. EPS in the chart are retroactively adjusted for stock dividend payout from 2006 to 20092. 2010 numbers are preliminary and have yet to be reviewed by our auditors.
-0.60%
0.79% 0.86%
0.14%
0.79%
2006 2007 2008 2009 20102
ROAE, after tax
%
ROAA, after tax
2
%
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Chinatrust 6
CFHCs revenue breakdown
(378)
(1,494)
1,307 1,211
(547)
16
425702
5,876
6,262
(37)
5,887
6,403
589
6,055 6,115
623525
6,268 6,358
249
628
(363)
6,6886,467
Net Interest
Income
Fee Income LT Investment
& Others
Trading
Gains
Derivatives &
FX
4Q091Q102Q103Q104Q10
-11% -5%6% 5%8% 5%
49% 49%
48% 47%
2009 2010
NII
Fee
Trading
Derivatives &FX
LT Investment & others
CFHCs Revenue breakdownNT$ mm, %
1
1
4Q10: 13,669
Revenue (NT$ mm) %
2009: 46,481 2010: 52,555 +13.1%
+3.3%3Q10: 13,227
QoQ +3.2%YoY +10.4%
QoQ +5.2%YoY +12.7%
QoQ -60.0%YoY -8.7%
QoQ +19.5%YoY -35.9%
QoQ +33.7%YoY -47.2%
2
CFHCs numbers are presented on a consolidated basis.1. 4Q10 & 2010 numbers are preliminary and have yet to be reviewed by our auditors.2. 2Q10 trading gains incl. cash dividend totaled NT$1,235mm received from investment in Mega FHC.
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Chinatrust 7
CTCBs lending portfolio breakdown
57% 58%
33% 31%
7% 8%2% 2%1% 1%
2009 2010
Small business + Car loan
Credit Card Revolving
Unsecured Loan
Mortgages
Commercial Loans
Loan breakdown1 (incl. credit card revolving balance)NT$ bn, %
67
228 8
582
72
2110
75
21 12
79
20 14
304
529
558
301
68
22
305 308
577
315
591
Commercial
Loans
Mortgages Consumer
Loans
Credit Card
Revolving
Small Biz &
Car loan
4Q09
1Q10
2Q10
3Q10
4Q10
3
3
2
QoQ +2.4%YoY +11.8%
QoQ +2.2%YoY +3.6%
QoQ +18.7%YoY +75.0%
QoQ -1.1%YoY -7.8%
QoQ +5.5%YoY +17.9%
Dec10: 1,023
Total Lending Portfolio4 (NT$bn) %
Dec09: 942 Dec10: 1,023 +8.6%
+2.6%Sep10: 997
2
These numbers are presented on CTCB consolidated basis.
1. Loan breakdown is presented on performing loan basis, excluding non-accrual loans.2. Commercial loans include foreign currency loans of overseas branches and subsidiaries.3. 4Q10 & 2010 numbers are preliminary and have yet to be reviewed by our auditors.4. Total lending portfolio includes performing loans, non-accrual loans and credit card revolving balance.
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Chinatrust 8
Loan growth comparison with industry
Domestic Commercial Loan, YoY % Consumer Loan, YoY%
-5%
0%
5%
10%
15%
20%
2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10
Industry CTCB
-10%
-5%
0%
5%
10%
15%
20%
2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10
Industry CTCB
Mortgage, YoY % Total Foreign Currency Loan (incl. o/s sub.), YoY%
-15%
-10%
-5%
0%
5%
10%
15%
2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10
CTCB
-2%
0%
2%
4%
6%
8%
2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10
Industry CTCB
Data source: CBC (Taiwan)Definition: Domestic Commercial Loan- Loans from all industries, excl. individuals.
Mortgage- House Purchasing LoanConsumer Loan- Employee Welfare Loan, Other Consumer Loan
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Chinatrust 9
CTCBs LDR
Total deposit & lending outstanding%, NT$ bn
1,321 1,347 1,356 1,352 1,367
980 997 1,0611,033 1,032
Dec 09 Mar 10 Jun 10 Sep 10 Dec 10
Loans & Credit Card Receivables
Deposit
3
LDR1for Overall, NTD & foreign currency loans
%
62.00%60.94%
65.24%
67.55%
65.23%
81.88%
79.29%79.78%78.29%78.46%
77.59%76.36%
76.19%74.02%74.18%
Dec 09 Mar 10 Jun 10 Sep 10 Dec 10
NTD Foreign Currency Overall
3
2
-1.61%-0.31%
5.06%
6.87%5.62% 6.19%6.05%
8.26%
5.76% 3.51%
YoY%- Loan & Credit Card Receivables
YoY%- Deposit
These numbers are presented for CTCB on a consolidated basis.
1. Credit card account receivables are included in the calculation of CTCBs LDR.2. Loans include both performing and non-accrual loans.3. Dec. 10 numbers are preliminary and have yet to be reviewed by our auditors.
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Chinatrust 10
CTCBs NIM and spreads
6,4306,2706,0675,9155,906
4Q09 1Q10 2Q10 3Q10 4Q10
1.51%1.49%
1.46%1.46%1.47%
1.55%
Quarterly NIM & NII%, NT mm
Net Interest Margin (NIM)
Overall, NTD, FX spread%
1.75% 1.80% 1.78% 1.79%1.89%
2.21%2.12%2.12%2.12%2.09%
3.21%3.20%3.32%
3.22%3.22%
1.37%1.36%1.36%
1.31%
4Q09 1Q10 2Q10 3Q10 4Q10
Overall spread NTD spread
FX spread Industry averageNet Interest Income (NII)
1
excluding early repaymentpenalty from US sub
1
These numbers are presented on CTCB consolidated basis.1. 4Q10 numbers are preliminary and have yet to be reviewed by our auditors.
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Chinatrust 11
CFHCs fee breakdown
33%27%
35%39%
8% 8%
12% 13%
12% 12%
2009 2010
Lottery
Corporate Business
Retail Business
Wealth Mgmt
Credit Cards
857
2,938
765
2,378
1,949
667
544
724
1,810
2,340
500
815937
709
543
2,290
1,716
2,491
706
879
511
1,771
706
555
1,725
Credit Cards Wealth Mgmt Retail
Business
Corporate
Business
Lottery
4Q09
1Q10
2Q103Q10
4Q10
CFHCs fee income comparison and breakdownNT$ mm, %
1
4Q10: 6,688
Total Fees (NT$mm) %
2009: 22,677 2010: 25,563 +12.7%
+5.2%3Q10: 6,358
QoQ -2.6%YoY -4.9%
QoQ +17.9%YoY +28.3%
QoQ -12.9%YoY +17.6%
QoQ -0.1%YoY +12.3%
QoQ +8.5%YoY +10.1%
1
CFHCs numbers are presented on a consolidated basis.1. 4Q10 & 2010 numbers are preliminary and have yet to be reviewed by our auditors.
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Chinatrust 12
CFHCs cost to income ratio
8,2377,481
13,28112,465
13,195 13,227
7,724
9,140 9,017
13,669
4Q09 1Q10 2Q10 3Q10 4Q10
46,481
52,555
33,36230,292
2009 2010
Non-Interest
Expense
Revenue
62.0% 60.0% 58.5%
66.0%69.1%
63.5%65.2%
CFHCs Cost-to-Income ratio1 and cost & income%, NT$ mm
2 2
CFHCs numbers are presented on a consolidated basis.1. Cost-to-Income ratio is derived by dividing Total Non-interest Expense by Pre-provision Operating Revenue.2. 4Q10 & 2010 numbers are preliminary and have yet to be reviewed by our auditors
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Chinatrust 13
USs asset quality is back on track
0.39%
0.60% 0.55%
1.69%
11.71%
0.09%0.89%
6.21% 2.49% 2.40%
NPL ratio
Delinquent ratio
Coverage ratio
Asset quality1 for US subsidiary%, NT$ bn
37.5 33.1 30.0 28.3 25.1
5.00.6 0.1
0.2 0.1
Dec 09 Mar 10 Jun 10 Sep 10 Dec 10
NPL
Performing Loans
2
28.5
42.5
33.6 30.1
Changes of CTBUSAs impaired asset transferred to CCCUS$ mm, %
Sales & Paydown
US$ 25.6 mm
15.0%Chg inValuationReserve (MTM)
US$ -2.7 mm
-1.6%
LHFS & OREO
US$ 147.2 mm
86.5%
Sep. 2010 Balance
412.05%
1826.90%
901.24%
989.03%
25.3
57.67%
US$ 170.8 mm
Dec. 2010 Balance
US$ 147.2 mm
1. Delinquency refers to loans are 30-90days over due, NPLs refers to loans are over 90 days over due.2. Dec 10 numbers are preliminary and have yet to be reviewed by our auditors.
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Chinatrust 14
CTCBs asset quality
7.9 7.0 6.5 5.8 5.7
5.0
0.10.20.10.6
Dec 09 Mar 10 Jun 10 Sep 10 Dec 10
NPL amt.- US sub.NPL amt.- CTCB excl. US sub.
7.05.3 4.9 5.3 4.4
2.6
0.60.70.00.3
Dec 09 Mar 10 Jun 10 Sep 10 Dec 10
Delinquent amt.- US sub.Delinquent amt.- CTCB excl. US sub.
Delinquency1 for loan portfolio%, NT$ bn
2
0.60%
0.51%
1.05%
0.50%0.62%
0.59%
0.80% 0.52%
0.56%0.45%
Delinquent ratio- CTCB
Delinquent ratio- CTCB excl. US sub.
6.0
9.6
5.65.0 5.0
0.77%0.58%
0.61%
0.68%
0.80%
1.40%
0.69%
0.90%
0.61% 0.58%
NPL ratio- CTCB
NPL ratio- CTCB excl. US sub.
NPL1 for loan portfolio%, NT$ bn
6.0
12.9
7.66.7
5.8
2
These numbers are presented for CTCB on a consolidated basis.
1. Delinquency refers to loans are 30-90days over due, NPLs refers to loans are over 90 days over due.2. Dec 10 numbers are preliminary and have yet to be reviewed by our auditors.
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Chinatrust 15
CTCBs credit cost and coverage ratio
Provisioning ratios1 and quarterly provision costs%, NT$ mm
1.93%
0.11%
0.29%
0.45%
0.00% -0.05%0.39%
-0.04%
0.17%0.45%
Provision ratio- CTCB
Provision ratio- CTCBexcl. US sub.
10.9 10.2 10.3
2.92.1
1.4
10.0 11.4
2.3 2.0
4Q09 1Q10 2Q10 3Q10 4Q10
LLR- US sub.
LLR- CTCB excl. US sub.
NPL coverage ratio and loan loss reserves%, NT$ bn
2
909119
3,622
(4)
4841,223
(96)(97)(6) (65)(24)
278
(530) (141)
841
4Q09 1Q10 2Q10 3Q10 4Q10
Provision- US sub.
Provision- IDRP
Provision- Normal4,649
(110)
12.4 12.113.7
These numbers are presented for CTCB on a consolidated basis.
1. Provisioning ratio is calculated by dividing provision to lending balances, including loans and credit card revolving balance. This ratio is presentedon annualized basis.2. 4Q10 numbers are preliminary and have yet to be reviewed by our auditors.
2
106.93%
138.06%
165.44%
186.38%
220.14%201.63%
145.40%157.07%
201.44%181.20%
CR- CTCB
CR- CTCB excl. US sub.
12.5
268721
12.8
985
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Chinatrust 16
2010 & 42010 & 4Q10 PerformanceQ10 Performance
20112011 OutlookOutlook
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Chinatrust 17
2011 is growing on a sound businessfoundation
Stable economy with domestic investment & consumption picking upStable economy with domestic investment & consumption picking up
Sustainable business in our home market
A redefined and clear focus in our global business
Strengthened governance & risk systems with benign credit outlook
Strong capital and funding position
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Chinatrust 18
Economic Update
2011 Taiwan GDP Forecast Consumer Confidence Level
0
10
20
30
40
50
60
70
80
90
Mar-0
5
Jun-05
Sep-05
Dec-05
Mar-0
6
Jun-06
Sep-06
Dec-06
Mar-07
Jun-07
Sep-07
Dec-07
Mar-0
8
Jun-08
Sep-08
Dec-08
Mar-0
9
Jun-09
Sep-09
Dec-09
Mar-1
0
Jun-10
Sep-10
Dec-10
0
1
2
3
4
5
6
7
8
9
10
Consumer Confidence
Unemployment Rate
2009-2010 Taiwan Import/Export trend
5,000
10,000
15,000
20,000
25,000
30,000
35,000
Export Import Export orderUS$ mm
Academia Sinica 4.71%
Chung-Hua Inst. for Economic
Research4.55%
Polaris Research Inst. 4.62%
Taiwan Reserch Inst. 4.24%
Taiwan Inst. of Economic Research 5.71%
Directorale-General of Budget,
Accounting & Statistics4.51%
Rediscount Rate & Spread
0.0
0.5
1.0
1.5
2.02.5
3.0
3.5
4.0Spread for TW Domestic Banks (%)
Rediscount Rate
Data Source: Central Bank of TaiwanData Source: Dept. of Statistics, Ministry of Economic Affairs
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Chinatrust 19
Volume and margin expansion at low creditcosts
-40%
-30%
-20%
-10%
0%
10%
20%
30%
1Q06
2Q06
3Q06
4Q06
1Q07
2Q07
3Q07
4Q07
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
Consumer Loans YoY%
Cre dit Card Rev. Bal. YoY%
Total Unse cured Loans YoY%
-15%
-5%
5%
15%
25%
1Q06
2Q06
3Q06
4Q06
1Q07
2Q07
3Q07
4Q07
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
NTD Corp YoY%
FCY Corp YoY%
Total Corp YoY%
Clear recovery from both onshore & offshorecorporate loans post global financial crisis
Persistent consumer loan growth since creditcard crisis
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
NIM
-2,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
1Q04
2Q04
3Q04
4Q04
1Q05
2Q05
3Q05
4Q05
1Q06
2Q06
3Q06
4Q06
1Q07
2Q07
3Q07
4Q07
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
Provision (NT$mm)
Positive NIM outlook in a rate rising cycle Credit cycle currently in the trough
Note: CTCBs numbers
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Chinatrust 20
Persistent fee growth
2008 2009 2010
Lottery
CorporateOther retail
Wealth Mgmt
Credit Card
-6.3%
+6.4%
+11.7%+1.2%
-2.2%
-4.9%
+28.3%
+10.1%+17.6%
+12.3%+0.7%+12.7%
2007Avg.
2008Avg.
2009Avg.
1Q10 2Q10 3Q10 4Q10
Structured
products
Mutual
Funds
Insurance
premium
90.1
97.9
88.8
97.6
70.6
45.4
Sales vol., NT$ mm
Fee income YoY growth rate (%)
000000
00
000
2008 2009 2010
Lottery
Corporate
Other retail
Wealth Mgmt
Credit Card
27.5%
39.3%
8.3%
13.0%12.0%
35.0%
32.7%
7.6%
12.4%12.4%
Fee income mix (%)
114.6
Majority of fee items shown decent growth for2 yr-round better confirms growing trend
Confirmed card consumption growthbenefited credit card fees
Other fees to make up ongoing structuralchanges for credit card business
Investment needs heating up wealthmanagement sales
4.7%
11.9%
-3.1%
10.6%
-1.0%5.2%
10.6%
6.4%
-4.8%-1.3%
4Q09 1Q10 2Q10 3Q10 4Q10
MerchantAcquring
QoQ%
Spending
QoQ%
Note; CFHC & CTCBs numbers
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Chinatrust 21
Key Profit Drivers
2010 2011
Earnings
Volume drive
Slow margin expansion Strong fee growth
Volume growth continued
Strong margin expansion Mild fee growth
Credit Costs
Low new NPL influx US NPL clearing up
IFRS #34 phase II preparation
Low new NPL influx continued US overhang removed
IFRS #34 impact mitigated
Expenses
Operating expenses:
Staff bonus increased for
rebounding sales volume
Marketing/Branding
Non-operating expenses:
Transfer of Treasury stocks
Pension scheme adjustment
Operating expenses:
Staff expenses for increased headcount &
sales bonus, pay rise
Marketing/Branding
Risk management strengthening
New biz expansion:
China, BCI & other overseas markets
SME
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Chinatrust FHCAnalyst Meeting
Financial Review of 4Q10
Appendix
February 23, 2011
Investor Relations
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23
DISCLAIMER
THE FINANCIAL INFORMATION IN THESE MATERIALS AS OF AND FOR
THE TWELVES MONTHS ENDED DECEMBER 31, 2010 ARE PRELIMINARY.
CHINATRUST FHC EXPECTS TO FILE ITS UNAUDITED INTERIM FINANCIALSTATEMENTS, WHICH ARE SUBJECT TO REVIEW BY ITS AUDITORS, WITH
THE ROC SECURITIES AND FUTURES BUREAU ON OR ABOUT APRIL 30,
2011.
This presentation contains forward-looking statements and information that is, statements
related to future, not past, events. These forward-looking statements are based on the currentexpectations and certain assumptions made by Chinatrust and are therefore subject to certain
risks and uncertainties. By nature, these risks and uncertainties could cause actual results,
performance or achievements to differ materially from those indicated. Chinatrust disclaims any
intention or obligation to update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.These materials are not an offer for sale of securities in the United States. Securities may not be
sold in the United States absent registration or an exemption from registration under the U.S.
Securities Act of 1933, as amended.
CFHC S R ti
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24
CFHCs Summary Ratios
2007 2008 2009 4Q09 1Q10 2Q10 3Q10 4Q101 12M09 12M101
Per Share Data
EPS (after-tax) (NT$) 1.49 1.51 0.15 0.14 0.38 0.35 0.33 0.29 0.14 1.32
DPS (NT$) 1.00 0.50 1.28 - - - - - - -
BVPS (NT$) 12.42 12.06 12.79 12.79 13.23 12.67 12.77 13.14 12.79 13.14
Common shares outstanding(million share)
8,410 8,931 9,280 9,280 9,280 9,298 9,893 9,941 9,280 9,941
DuPont Analysis
ROAA (after-tax)(%, annualized YTD earnings)
0.79% 0.86% 0.14% 0.35% 0.85% 0.83% 0.78% 0.69% 0.14% 0.79%
ROAE (after-tax)(%, annualized YTD earnings)
12.14% 12.43% 1.21% 4.19% 11.54% 11.57% 10.60% 8.87% 1.21% 10.50%
Leverage & Solvency Ratios
Double Leverage Ratio (%) 99.4% 98.3% 98.9% 98.9% 99.0% 99.2% 99.3% 97.3% 98.9% 97.3%
Avg. Equity / Avg. Assets (%) 7.85% 8.30% 8.32% 8.58% 8.55% 8.39% 8.49% 8.83% 8.31% 8.68%
Avg. Loans / Avg. Assets (%) 51.45% 53.37% 53.15% 52.57% 52.40% 53.16% 54.13% 54.71% 53.13% 53.58%
CAR - FHC (%) 114.2% 128.3% 131.8% 131.8% 140.7% 116.4% 120.5% 116.8% 131.8% 116.8%
CAR - Bank (%) 11.13% 12.64% 14.56% 14.56% 15.86% 14.44% 14.85% 14.62% 14.56% 14.62%
Tier 1 Ratio - Bank (%) 8.12% 9.06% 10.95% 10.95% 12.06% 11.00% 11.59% 11.55% 10.95% 11.55%
Yearly Results YTD ResultsQuarterly results
1. 4Q10 and 12M10 numbers are preliminary and have yet to be reviewed by our auditors.
CFHC S R ti
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CFHCs Summary Ratios
2007 2008 2009 4Q09 1Q10 2Q10 3Q10 4Q101 12M09 12M10
1
Growth Ratios
NII growth -14.07% -9.09% -24.88% 5.28% 0.18% 2.86% 3.51% 3.17% -24.88% 10.36%
Fee growth 32.96% -10.00% 0.67% 10.39% 2.66% -4.50% 3.98% 5.19% 0.67% 12.73%
Net profit growth -230.78% 10.25% -83.47% 169.22% 148.12% -0.10% -6.75% -11.01% -83.47% 481.39%
Loan growth - Bank 3.53% 5.08% -1.47% -0.58% 2.37% 3.46% 0.23% 2.66% -1.47% 8.98%
Deposit growth - Bank -4.05% 4.15% 6.96% 2.21% 1.98% 0.59% -0.29% 1.12% 6.96% 3.42%
Performance Ratios
Loan-to-Deposit Ratio - Bank 80.80% 80.58% 74.18% 74.18% 74.02% 76.19% 76.36% 77.59% 74.18% 77.59%
NIM - Bank 2.18% 1.98% 1.44% 1.47% 1.48% 1.47% 1.49% 1.51% 1.44% 1.48%NII / Operating income 55.5% 49.8% 48.1% 44.1% 47.2% 45.9% 47.4% 47.3% 48.1% 47.0%
Fee / Operating income 42.4% 37.7% 48.8% 46.8% 51.4% 46.3% 48.1% 48.9% 48.8% 48.6%
Cost-to-income ratio 53.4% 51.5% 65.2% 62.1% 60.0% 58.5% 69.1% 66.0% 65.2% 63.5%
Asset Quality Ratios (Bank)
NPLs / Total Loans 1.68% 1.68% 1.40% 1.40% 0.80% 0.68% 0.61% 0.58% 1.40% 0.58%
Reserve / Total Loans 1.38% 1.25% 1.49% 1.49% 1.33% 1.27% 1.24% 1.28% 1.49% 1.28%
Reserve / NPLs 81.86% 74.63% 106.93% 106.93% 165.44% 186.38% 201.63% 220.14% 106.93% 220.14%
Provision/Avg. Loans &
Revolv. Bal.1.14% 1.34% 1.30% 1.93% 0.11% 0.29% -0.04% 0.39% 1.30% 0.19%
Yearly Results YoY ResultsQuarterly results
1. 4Q10 and 12M10 numbers are preliminary and have yet to be reviewed by our auditors.
B l Sh t f D b 31 20101
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Balance Sheet as of December 31, 20101
of
CFHC and its major subsidiaries
NT$ millionCTCB
(consolidated)
Chinatrust
Insurance
Brokers
Chinatrust
Securities
Chinatrust
Asset
Management
Chinatrust
Venture
Capital
Taiwan
Lottery
CFHC
(non-
consolidated)
Adjustment
Items
CFHC
(consolidated)
Assets:
Cash and due from banks 125,803 372 2,090 3,737 563 343 3,277 (9,478) 126,707
Securities, net 464,540 3,622 2,769 1,039 348 - 10,118 0 482,436
Loans, net 989,417 - - - - - - - 989,417
A/R, net 124,402 319 2,151 118 8 130 1,533 (441) 128,219
LT investments, net 2,132 - - (0) - - 146,747 (146,681) 2,197
Land, premises and
equipments, net33,045 3 65 0 0 125 7 - 33,246
Others 60,984 18 1,654 147 1,012 106 429 (26) 64,325
Total assets 1,800,323 4,334 8,730 5,040 1,932 704 162,110 (156,626) 1,826,546
Liabilities:
Deposits 1,367,817 - - - - - 0 (9,478) 1,358,339
Other liabilities 302,897 579 2,781 35 4 146 465 (441) 306,466
Total liabilities 1,670,714 579 2,781 35 4 146 465 (9,919) 1,664,805
Minority interests 77 - - - - - - 19 96
Total stockholders' equity 129,532 3,754 5,949 5,006 1,928 557 161,645 (146,726) 161,645
Total liabilities and
stockholders' equity1,800,323 4,334 8,730 5,040 1,932 704 162,110 (156,626) 1,826,546
1. These numbers are preliminary and have yet to be reviewed by our auditors.
P&L of CFHC and its subsidiaries for the 12
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P&L of CFHC and its subsidiaries for the 12
months ended December 31, 20101
NT$ millionCTCB
(consolidated)
Chinatrust
Insurance
Brokers
Chinatrust
Securities
Chinatrust
Asset
Management
Chinatrust
Venture
Capital
Taiwan
Lottery
CFHC
(non-
consolidated)
Adjustment
Items
CFHC
(consolidated)
Operating income
Net interest income 24,682 10 112 5 3 1 (136) - 24,677
Fee income 23,852 1,253 473 - - 739 (2) (752) 25,563
LT investment income 101 - - - - - 14,403 (14,402) 102
Net trading income/(loss) 1,826 91 91 2 5 - 408 - 2,424
Derivatives & FX 2,683 - 39 (1) (33) - (15) - 2,673
Others (2,887) 1 (85) 117 (13) 20 25 (61) (2,883)
Total operating income 50,256 1,355 631 123 (38) 760 14,683 (15,215) 52,555
Operating costs (30,948) (87) (511) (7) (8) (713) (672) 817 (32,129)
Business tax (1,183) - (46) (3) - - (1) - (1,233)
Total operating costs (32,130) (87) (557) (10) (8) (713) (673) 817 (33,362)
Pre-provision Profit 18,126 1,268 73 113 (47) 47 14,011 (14,398) 19,193
Credit Loss Provisions, net (1,863) - - - - - - - (1,863)
Profit Before Income Tax 16,262 1,268 73 113 (47) 47 14,011 (14,398) 17,330
Net Profit After Income Tax 13,181 1,079 53 88 (42) 39 14,134 (14,398) 14,134
1. These numbers are preliminary and have yet to be reviewed by our auditors.
CFHCs Balance Sheet (consolidated)
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CFHCs Balance Sheet (consolidated)
NT$ million 2007 2008 2009 Dec 09 Mar 10 Jun 10 Sep 10 Dec 101 QoQ (%) YoY (%)
Assets:
Cash and due from banks 166,499 139,552 137,028 137,028 117,757 132,462 144,173 126,707 -12.1% -7.5%
Securities, net 396,775 376,842 497,895 497,895 530,541 491,739 454,864 482,436 6.1% -3.1%
Loans, net 875,970 921,675 905,880 905,880 928,924 961,612 964,205 989,417 2.6% 9.2%
A/R, net 140,332 115,704 113,430 113,430 105,985 118,513 116,211 128,219 10.3% 13.0%
LT investments, net 1,962 2,229 2,265 2,265 2,253 2,219 2,250 2,197 -2.3% -3.0%
Land, premises and
equipments, net34,105 33,494 34,142 34,142 34,012 33,841 33,600 33,246 -1.1% -2.6%
Others 72,111 136,010 69,944 69,944 71,390 72,794 74,503 64,325 -13.7% -8.0%
Total assets 1,687,754 1,725,505 1,760,586 1,760,586 1,790,862 1,813,179 1,789,806 1,826,546 2.1% 3.7%
Liabilities:
Deposits 1,180,402 1,226,171 1,307,717 1,307,717 1,326,094 1,335,787 1,343,957 1,358,339 1.1% 3.9%
Other liabilities 364,195 359,068 303,054 303,054 310,624 328,960 288,246 306,466 6.3% 1.1%
Total liabilities 1,544,597 1,585,239 1,610,771 1,610,771 1,636,719 1,664,747 1,632,203 1,664,805 2.0% 3.4%Minority interests 78 76 90 90 93 95 97 96 -1.5% 6.9%
Total stockholders' equity 143,080 140,191 149,725 149,725 154,051 148,337 157,505 161,645 2.6% 8.0%
Total liabilities and
stockholders' equity1,687,754 1,725,505 1,760,586 1,760,586 1,790,862 1,813,179 1,789,806 1,826,546 2.1% 3.7%
Yearly Results Quarterly Results
1. Dec 10 numbers are preliminary and have yet to be reviewed by our auditors.
CFHCs P&L (consolidated)
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CFHC s P&L (consolidated)
NT$ million 2007 2008 2009 4Q09 1Q10 2Q10 3Q10 4Q101 QoQ(%) 12M09 12M10
1 YoY (%)
Operating Income
Net interest income 32,743 29,767 22,360 5,876 5,887 6,055 6,268 6,467 3.2% 22,360 24,677 10.4%
Fee income 25,027 22,525 22,677 6,237 6,403 6,115 6,358 6,688 5.2% 22,677 25,563 12.7%
Long term investment income (91) 39 66 6 25 28 26 23 -12.3% 66 102 55.6%
Trading income (loss) - equity, MTM (210) 1,572 1,448 604 (127) 1,198 162 98 -39.6% 1,448 1,331 -8.1%
Trading income (loss) - FI , MTM 461 78 2,336 98 91 109 364 530 45.7% 2,336 1,093 -53.2%
Derivatives & FX 3,061 5,832 2,927 425 589 1,211 623 249 -60.0% 2,927 2,673 -8.7%
Other income (loss) (2,013) 8 (5,332) 76 (403) (1,522) (573) (386) -32.7% (5,332) (2,883) -46%
Operating Revenue 58,978 59,820 46,481 13,323 12,465 13,195 13,227 13,669 3.3% 46,481 52,555 13.1%
Non interest expensesOperating expenses (29,977) (29,446) (29,194) (7,907) (7,185) (7,415) (8,840) (8,689) -1.7% (29,194) (32,129) 10.1%
Business tax (1,522) (1,391) (1,098) (371) (295) (309) (300) (328) 9.2% (1,098) (1,233) 12.3%
Total non-interest expenses (31,498) (30,837) (30,292) (8,278) (7,481) (7,724) (9,140) (9,017) -1.3% (30,292) (33,362) 10.1%
Pre-provision profit 27,480 28,983 16,189 5,045 4,984 5,471 4,087 4,651 13.8% 16,189 19,193 18.6%
Credit loss provisions, net (9,915) (12,621) (12,433) (4,650) (268) (720) 110 (985) -991.7% (12,433) (1,863) -85.0%
Net profit before income tax 17,565 16,362 3,756 395 4,716 4,751 4,197 3,666 -12.6% 3,756 17,330 361.4%
Net profit after income tax 13,339 14,707 2,431 1,515 3,759 3,756 3,502 3,117 -11.0% 2,431 14,134 481.4%
Preferred dividend 1,050 1,050 1,050 263 263 263 263 263 0.2% 1,050 1,050 0.0%
Income after preferred dividend 12,289 13,657 1,381 1,253 3,497 3,493 3,240 2,854 -11.9% 1,381 13,084 847.4%
Yearly Results Quarterly Results YTD Results
1. 4Q10 and 4M10 numbers are preliminary and have yet to be reviewed by our auditors.
CTCBs Balance Sheet (consolidated)
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CTCB s Balance Sheet (consolidated)
NT$ million 2007 2008 2009 Dec 09 Mar 10 Jun 10 Sep 10 Dec 101 QoQ (%) YoY (%)
Assets:
Cash and due from banks 161,812 134,154 135,831 135,831 113,941 128,262 139,167 125,803 -9.6% -7.4%
Securities, net 316,504 350,549 471,148 471,148 512,966 474,679 429,678 464,540 8.1% -1.4%
Loans, net 875,970 921,675 905,880 905,880 928,924 961,612 964,205 989,417 2.6% 9.2%
A/R, net 137,311 114,399 111,341 111,341 103,659 115,909 113,614 124,402 9.5% 11.7%
LT investments, net 1,896 2,170 2,203 2,203 2,190 2,157 2,185 2,132 -2.4% -3.2%
Land, premises and
equipments, net33,766 33,171 33,843 33,843 33,720 33,559 33,398 33,045 -1.1% -2.4%
Others 63,408 132,788 66,888 66,888 67,444 69,687 70,448 60,984 -13.4% -8.8%
Total assets 1,590,667 1,688,906 1,727,135 1,727,135 1,762,844 1,785,865 1,752,695 1,800,323 2.7% 4.2%
Liabilities:
Deposits 1,187,249 1,236,505 1,322,542 1,322,542 1,348,692 1,356,600 1,352,706 1,367,817 1.1% 3.4%
Other liabilities 299,956 337,550 284,876 284,876 290,168 308,233 273,078 302,897 10.9% 6.3%
Total liabilities 1,487,205 1,574,055 1,607,417 1,607,417 1,638,860 1,664,833 1,625,784 1,670,714 2.8% 3.9%Minority interests 59 58 71 71 74 76 78 77 -1.9% 8.5%
Total stockholders' equity 103,403 114,792 119,646 119,646 123,910 120,956 126,833 129,532 2.1% 8.3%
Total liabilities and
stockholders' equity1,590,667 1,688,906 1,727,135 1,727,135 1,762,844 1,785,865 1,752,695 1,800,323 2.7% 4.2%
Yearly Results Quarterly Results
1. Dec 10 numbers are preliminary and have yet to be reviewed by our auditors.
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CTCBs Loan Breakdown - Consolidated
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CTCB s Loan Breakdown - Consolidated
NT$ million 2007 2008 2009 Dec 09 Mar 10 Jun 10 Sep 10 Dec 101 QoQ (%) YoY (%)
Corporate loans
Manufacturing 103,272 119,021 102,645 102,645 100,461 108,683 111,388 116,295 4.4% 13.3%
Commerce & services 57,598 53,476 52,501 52,501 50,497 42,416 31,473 31,070 -1.3% -40.8%
Government & Non-prof. Org. 29,514 33,732 46,569 46,569 86,455 94,751 91,620 93,369 1.9% 100.5%
Construction & real estate 31,752 31,856 25,192 25,192 25,059 27,233 27,913 27,644 -1.0% 9.7%
Finance & insurance 35,884 39,020 30,857 30,857 26,573 30,879 23,022 25,454 10.6% -17.5%
Others 47,034 34,754 65,680 65,680 69,280 61,568 64,779 67,336 3.9% 2.5%
NTD loans 305,054 311,859 323,444 323,444 358,324 365,530 350,195 361,169 3.1% 11.7%
Foreign currency loans 195,765 232,379 205,150 205,150 199,223 216,009 226,812 228,732 0.8% 11.5%Sub-total 500,819 544,238 528,594 528,594 557,547 581,539 577,006 589,901 2.2% 11.6%
Retail loans
Mortgages 295,164 301,301 303,593 303,593 301,319 304,982 307,924 314,553 2.2% 3.6%
Car loans 3,630 1,249 254 254 148 79 40 19 -51.8% -92.4%
Unsecured loans 71,982 67,166 67,301 67,301 67,796 71,777 75,259 79,379 5.5% 17.9%
Small business loan 5,434 5,349 7,596 7,596 8,343 9,542 11,532 13,721 19.0% 80.6%
Sub-total 376,210 375,066 378,744 378,744 377,607 386,380 394,755 407,673 3.3% 7.6%
Non-accrual account 11,174 14,051 12,285 12,285 6,282 6,093 4,507 4,632 2.8% -62.3%
Total loans 888,203 933,355 919,623 919,623 941,436 974,012 976,269 1,002,206 2.7% 9.0%
Yearly Results Quarterly Results
1. Dec 10 numbers are preliminary and have yet to be reviewed by our auditors.
CTCBs Deposit Breakdown - Consolidated
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CTCB s Deposit Breakdown Consolidated
NT$ million 2007 2008 2009 Dec 09 Mar 10 Jun 10 Sep 10 Dec 101 QoQ(%) YoY (%)
Deposits
Checking & demand deposits 90,634 87,985 122,781 122,781 113,667 125,278 121,035 119,994 -0.9% -2.3%
Saving deposits 281,839 257,161 363,212 363,212 376,711 359,415 413,729 403,726 -2.4% 11.2%
Sub-total 372,473 345,145 485,993 485,993 490,378 484,692 534,764 523,721 -2.1% 7.8%
Time & savings
Time deposits (incl. CD) 232,414 260,041 255,691 255,691 293,519 306,239 247,076 256,188 3.7% 0.2%
Time saving deposits 257,743 264,071 235,708 235,708 232,066 229,686 232,209 234,850 1.1% -0.4%
Sub-total 490,158 524,112 491,399 491,399 525,585 535,925 479,285 491,038 2.5% -0.1%
Remittances 977 458 1,573 1,573 1,414 526 660 535 -19.0% -66.0%
Foreign currency deposits 323,641 366,790 343,576 343,576 331,315 335,457 337,997 352,524 4.3% 2.6%
Total deposits 1,187,249 1,236,505 1,322,542 1,322,542 1,348,692 1,356,600 1,352,706 1,367,817 1.1% 3.4%
Quarterly ResultsYearly Results
1. Dec 10 numbers are preliminary and have yet to be reviewed by our auditors.
CTCBs Spread - Consolidated
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CTCB s Spread Consolidated
% 2007 2008 2009 4Q09 1Q10 2Q10 3Q10 4Q101 QoQ(% ) 12M09 12M10
1 YoY (%)
NTD
Lending rate 3.82% 3.81% 2.43% 2.25% 2.25% 2.23% 2.27% 2.40% 13bp 2.43% 2.29% -14bp
Deposit rate 1.35% 1.49% 0.74% 0.51% 0.45% 0.45% 0.48% 0.51% 2bp 0.74% 0.47% -26bp
NTD spread2 2.47% 2.32% 1.70% 1.75% 1.80% 1.78% 1.79% 1.89% 10bp 1.70% 1.82% 12bp
Foreign currency
Lending rate 7.31% 5.48% 4.09% 3.83% 3.78% 3.87% 3.74% 3.69% -5bp 4.09% 3.77% -32bp
Deposit rate 3.39% 2.41% 0.95% 0.61% 0.56% 0.55% 0.54% 0.48% -7bp 0.95% 0.53% -42bp
Foreign currency spread2 3.92% 3.07% 3.14% 3.22% 3.22% 3.32% 3.20% 3.21% 2bp 3.14% 3.24% 10bp
NTD & foreign currency
Lending rate 4.57% 4.22% 2.83% 2.63% 2.60% 2.60% 2.61% 2.70% 9bp 2.83% 2.63% -20bp
Deposit rate 1.87% 1.75% 0.79% 0.53% 0.48% 0.48% 0.50% 0.50% 0bp 0.79% 0.49% -31bp
Overall spread2 2.70% 2.47% 2.04% 2.09% 2.12% 2.12% 2.12% 2.21% 9bp 2.04% 2.14% 11bp
NIM 2.18% 1.98% 1.44% 1.47% 1.46% 1.46% 1.49% 1.51% 2bp 1.44% 1.48% 4bp
Yearly Results Quarterly Results YTD Results
1. 4Q10 & 12M10 numbers are preliminary and have yet to be reviewed by our auditors.
2. Credit card receivables are excluded in the calculation of NTD, foreign currency, and overall loan spread, and is included in the calculation of NIM.
CTCBs NII & Fee Breakdown - Consolidated
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CTCB s NII & Fee Breakdown Consolidated
NII Breakdown
% 2007 2008 2009 4Q09 1Q10 2Q10 3Q10 4Q101 QoQ(%) 12M09 12M10
1 YoY (%)
Loan interest & other interest 49,297 45,357 28,734 6,711 6,508 6,711 7,032 7,271 3.4% 28,734 27,522 -4.2%
Revolving interest 5,008 4,357 2,811 654 639 606 622 614 -1.3% 2,811 2,481 -11.8%
Interest income frommarketable securities 8,208 8,149 4,641 1,110 1,161 1,176 1,184 1,243 5.0% 4,641 4,764 2.6%
Interest expense (30,517) (28,368) (13,803) (2,569) (2,394) (2,426) (2,568) (2,698) 5.1% (13,803) (10,085) -26.9%
Net interest income 31,997 29,495 22,384 5,906 5,915 6,067 6,270 6,430 2.5% 22,384 24,682 10.3%
Yearly Results Quarterly Results YTD Results
Fee Breakdown
% 2007 2008 2009 4Q09 1Q10 2Q10 3Q10 4Q101 QoQ(%) 12M09 12M10
1 YoY (%)
Retail business group
Credit card business 6,882 7,873 7,380 1,949 1,810 1,716 1,771 1,725 -2.6% 7,380 7,021 -4.9%
Wealth management business 8,895 4,689 6,773 4,231 1,993 2,097 2,153 2,562 19.0% 6,773 8,805 30.0%
Banking business 1,238 1,716 1,917 544 500 543 511 555 8.5% 1,917 2,110 10.1%
Corporate business group 2,585 2,532 2,529 665 746 762 688 662 -3.8% 2,529 2,858 13.0%
Lottery Center 2,432 2,783 2,722 667 937 709 706 706 -0.1% 2,722 3,058 12.3%
Total fee income 22,032 19,593 21,321 8,056 5,986 5,828 5,829 6,209 6.5% 21,321 23,852 11.9%
Yearly Results Quarterly Results YTD Results
2
1. 4Q10 and 12M10 numbers are preliminary and have yet to be reviewed by our auditors.
2. Wealth management fee jumped up from 4Q09 partially due to change of profit sharing scheme between CTCB and CTIB.
CTCBs Asset Quality - Consolidated
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CTCB s Asset Quality Consolidated
1. 4Q10 and 12M10 numbers are preliminary and have yet to be reviewed by our auditors.
(NT$mm) 2007 2008 2009 4Q09 1Q10 2Q10 3Q10 4Q101 QoQ(%) 12M09 12M10
1 YoY (%)
90-days NPLs - beginning 14,187 14,945 15,651 15,779 12,852 7,563 6,653 5,983 -10.1% 15,651 12,852 -17.9%
New NPL influx, net of recovery &
others19,977 12,488 9,610 969 (2,422) 1,291 65 561 766.6% 9,610 (505) -105.3%
Write-offs & other deductions (19,219) (11,782) (12,409) (3,896) (2,868) (2,200) (735) (734) -0.2% (11,823) (6,537) -44.7%
90-days NPLs - ending 14,945 15,651 12,852 12,852 7,563 6,653 5,983 5,810 -2.9% 12,852 5,810 -54.8%
Provisions for credit loss
Provision for loan loss, net 6,898 7,688 11,389 4,600 266 879 (201) 706 -451.5% 11,389 1,649 -85.5%
Provision for credit card loss, net 3,228 2,512 970 112 8 (66) 22 207 863.2% 970 171 -82.4%
Others, net (51) 2,412 74 (63) (5) (92) 69 71 3.8% 74 43 -42.2%
Total provisions 10,076 12,612 12,433 4,649 268 721 (110) 985 -991.2% 12,433 1,863 -85.0%
Total reserves 12,233 11,680 13,743 13,743 12,512 12,400 12,063 12,789 6.0% 13,743 12,789 -6.9%
2007 2008 2009 Dec 09 Mar 10 Jun 10 Sep 10 Dec 101 QoQ
(bp;pp) 12M09 12M101 YoY
(bp;pp)
90-day NPL ratio
Corporate NPL ratio 1.44% 1.69% 1.78% 1.78% 0.85% 0.72% 0.68% 0.69% 1bp 1.78% 0.69% -1pp
Retail NPL ratio 2.01% 1.66% 0.86% 0.86% 0.73% 0.63% 0.52% 0.42% -10bp 0.86% 0.42% -44bp
Total NPL ratio 1.68% 1.68% 1.40% 1.40% 0.80% 0.68% 0.61% 0.58% -3bp 1.40% 0.58% -1pp
Yearly Results Quarterly Results YTD Results
Yearly Results Quarterly Results YTD Results
CTCBs Credit Card & Cash Card Business
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C C s C ed t Ca d & Cas Ca d us essCredit Card Business
(NT$mm, %) 2007 2008 2009 Dec 09 Mar 10 Jun 10 Sep 10 Dec 101 QoQ(%) YoY (%)
Card in circulation (accumulative) (thousand) 5,632 5,118 4,948 4,948 4,978 5,033 5,096 5,166 1.4% 4.4%
Card consumption (Cash advance & spending)
(yearly & quarterly)283,095 270,183 242,238 68,686 65,362 64,536 67,897 72,261 6.4% 5.2%
Revolving balance 32,630 23,640 22,046 22,046 21,827 20,507 20,561 20,332 -1.1% -7.8%
Credit card receivables (incl. non-accrual
account) 70,367 63,386 60,767 60,767 56,305 59,516 56,465 58,948 4.4% -3.0%
Reserves for credit card loss 1,029 919 872 872 842 783 764 729 -4.6% -16.4%
Coverage ratio (over 90 days overdues) 100.00% 117.64% 176.19% 176.19% 189.35% 208.67% 220.86% 235.37% 15pp 59pp
Delinquency ratio (30 - 90 days overdues) 1.87% 1.91% 1.59% 1.59% 1.55% 1.36% 1.35% 1.19% -16bp -40bp
NPL ratio (90-day overdues) 1.46% 1.23% 0.81% 0.81% 0.79% 0.63% 0.61% 0.53% -9bp -29bp
Write off ratio (180 days overdues)2
8.11% 4.19% 1.75% 1.69% 0.34% 0.16% -0.03% -0.22% -18bp -2pp
Yearly Results Quarterly Results
Cash Card Business
(NT$mm, %) 2007 2008 2009 Dec 09 Mar 10 Jun 10 Sep 10 Dec 101 QoQ(%) YoY (%)
Card in circulation (accumulative) (thousand) 190 144 117 117 112 107 102 98 -4.4% -16.6%
Debt outstanding 14,190 9,902 7,566 7,566 7,079 6,657 6,254 5,833 -6.0% -22.9%
Reserves for cash card loss 417 296 308 308 296 267 271 315 1.7% 2.6%
Coverage ratio (over 90 days overdues) 100.00% 102.86% 141.83% 141.83% 142.69% 150.28% 180.71% 385.23% 205pp 243pp
Delinquency ratio (30-90 days overdues) 3.54% 2.70% 1.76% 1.76% 1.65% 1.41% 1.10% 0.93% -16bp -83bp
NPL ratio (90 days overdues) 2.94% 2.90% 2.87% 2.87% 2.93% 2.67% 2.40% 1.40% -100bp -146bp
Write off ratio (180 days overdues)2 26.07% 19.18% 7.39% 7.39% 6.11% 7.92% 8.13% 8.48% 35bp 1pp
Yearly Results Quarterly Results
1. Dec 10 numbers are preliminary and have yet to be reviewed by our auditors.2. Write off ratios are YTD annualized numbers.