industrial and commercial bank of china limited · 2009-08-21 · industrial and commercial bank of...
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Industrial and Commercial Bank of China LimitedIndustrial and Commercial Bank of China Limited
August 2009August 2009
2009 Interim Results Announcement(IFRS)
2009 Interim Results Announcement(IFRS)
2009 8 20
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DisclaimerDisclaimer
The material in this presentation is not to be construed as an offer or a solicitation of an offer to buy the securities of Industrial and Commercial Bank of China Limited (“the Company”) in Hong Kong, the United States or other regions. The Company’s securities have not been registered under the US Securities Act of 1933 and its amendments, and no offer for or sales of these securities shall be made in the United States, unless registered under the right law or exempted from registration.
The statements in this release are "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks and uncertainties, and is based on the current forecast, assumption, estimation and expectation for the company and the industry which the company operates in. Unless otherwise stipulated by the law, the company assumes no obligation to update the forward looking statements whether as a result of new information, future events or otherwise. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the expectations will be proved to be correct. Investors are cautioned that actual results could differ materially from those forecasts.
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AgendaAgenda
Business Features
Financials
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Growing Earnings and Dual-decline in NPL Balance and NPL RatioGrowing Earnings and Dual-decline in NPL Balance and NPL Ratio
Note: (1) Excluding business taxes and surcharges
+2.8%64.966.7Profit after Tax (IFRS)
+13.3%24.527.7Net Fee and Commission Income
+5.3%0.190.20EPS(RMB Yuan)
change(%)1H 20081H 2009(RMB billion)
+5bps1.211.26ROAA (%)
+143bps19.4320.86Weighted ROAE (%)
-48bps2.291.81NPL Ratio (%)
+1bps29.8429.85Cost / Income Ratio (%)(1)
13.06
130.15
2008 year-end
-97bps
+805bps
change( bps)
12.09Capital Adequacy Ratio(%)
138.20NPL Coverage Ratio (%)
1H 2009
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NIM Stabilized Quarter-on-quarterNIM Stabilized Quarter-on-quarter
58.357.766.564.865.566.3
1Q 2008 2Q 2008 3Q 2008 4Q 2008 1Q 2009 2Q 2009
Net Interest Income Stabilizes Quarter-on-quarter
(RMB billion)
6
277
245
440
384
163
Rapid Growth of Net Fee and Commission IncomeRapid Growth of Net Fee and Commission Income
Rapid Growth in Various Fee Business Segments
YoY Growth1H09 Income
Investment Banking 48.1%7.143
Corporate Wealth Management 25.9%
1.836
4.355Bank Card 36.2%27.7
24.5
44.0
38.4
16.3
2006 2007 2008 1H2008 1H2009
06-08 CAGR=64.3%
9.0%
Y-o-Y Growth=13.3%14.9%
14.2%
As % of Operating
Income
(RMB billion)
Steady Growth of Fee Income and Higher Percentage
(RMB billion)
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Optimizing Asset Quality and Higher NPL Coverage RatioOptimizing Asset Quality and Higher NPL Coverage Ratio
Declining NPL Balance and NPL Ratio
98.7 104.5 105.1
111.8
137.7
1.81%
2.29%2.41%
2.74%
3.79%
2006 2007 1H2008 2008 1H2009NPL Balace NPL Ratio
70.56%
103.50%
138.20%130.15%
2006 2007 2008 1H 2009
Higher Provisioning and Coverage Ratio
(RMB billion,%)
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Competitive Cost-EfficiencyCompetitive Cost-Efficiency
Competitive Cost/income Ratio
29.85%29.84%
35.02%
2007 2008 1H 2009
23.1%22.2%
1H2008 1H2009
Lower Effective Tax Rate
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AgendaAgenda
Financials
Business Features
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FeatureⅠ: Optimized Income Structure and Superior Earnings GrowthFeatureⅠ: Optimized Income Structure and Superior Earnings Growth
64.9 66.7
1H 2008 1H 2009
Sustained Growth of Profit After Tax
YoY Growth=2.8%
(RMB billion)
6.1%
9.0%
14.9% 14.2%
18.7%
2005 2006 2007 2008 2009 1H
Fee Income As % of Operating Income
Greater Contribution from Fee Income
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Feature Ⅱ: Reasonable Loan Growth and Rapid Deposit GrowthFeature Ⅱ: Reasonable Loan Growth and Rapid Deposit Growth
8,816.1
10,504.4
2008 1H2009
5,436.54,572.0
4,073.23,631.23,289.6
2005 2006 2007 2008 1H2009
Reasonable Expansion of Loan Book Sustained Growth of Deposit Book
+19.2%
+63.9%
+18.9%
26.1% 25.8%
68.4% 69.9%
4.3%5.5%
2008 1H 2009A-and Below A、A+ AA- and Above
46.9%
44.8%
2008 1H 2009
Optimized Customer Structure Lowest Average Risk-weighted Asset Percentage
Average Risk-weighted Asset as % of Total AssetLoan Balance Structure
05-08 CAGR=11.6%
(RMB billion) Customers+Other Institutions Other Institutions(RMB billion)
971.3
592.6
2008 1H2009
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Feature Ⅲ: NIM Upside in SightFeature Ⅲ: NIM Upside in Sight
Higher Proportion of Demand Deposit
47.7%48.0%
50.8%
2009-4-30 2009-5-31 2009-6-30
Upside Trend in Monetary Market
0.94% 0.94% 0.95%
1.21%
1.01% 1.00% 0.96%1.02%
1.13%
1.29% 1.28%
1.42%
1.99%
1.93%
1.64%
2009-3-31 2009-4-30 2009-5-31 2009-6-30 2009-7-31
7-day LIBOR 1-year T-bond
1-year Financial bond
Decreasing Discounted Bills
(RMB billion)
134.96
33.11 32.8513.53
5.79
-78.6
8.63%
10.33%10.27%
10.13%10.15%
9.69%
-1000
-500
0
500
1000
1500
Jan Feb Mar April May June
7.5%
8.0%
8.5%
9.0%
9.5%
10.0%
10.5%
Bills Discounted Bills Discounted as % of total loan book
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Thank you!
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