Industrial and Commercial Bank of China Limited...

Industrial and Commercial Bank of China Limited - Pakistan Branches Condensed Interim Statement of Financial Position As at September 30, 2018

ASSETS

Cash and balances with treasury banks Balances with other banks Lendings to financial institutions Investments

Advances Operating fixed assets Deferred tax assets Other assets

LIABILITIES

Bills payable Borrowings Deposits and other accounts Sub-ordinated loans Liabilities against assets subject to finance lease Deferred tax liabilities

Other liabilities

NET ASSETS

REPRESENTED BY

Head office capital account Unremitted profit

Deficit on revaluation of investments - net of tax

CONTINGENCIES AND COMMITMENTS

Note

7 8 9 JO 13

11 12

14

15

16

September 30, 2018

December 31 , 2017

(Un-audited) (Audited)

(Rupees in '000)

17,197,625 1,917,283

210,678,201 177 ,097,292

15,931,082 557,222

3,069 5,686,996

429,068,770

1,695,650 311,865,492

83,478,894

8,124.765 405,164,801

23,903,969

12,424,920 11,521,102 23,946,022

(42,053) 23,903,969

15,585,904 1,461,579

118,285,067 235,089,040

8,164,082 581 ,047

633 12,034,886

391 ,202,238

4,573,858 303,724,827

57,698,198

8,365,292 374,362,175

16,840,063

9,506,699 7,365,414

16,872,113

(32,050) 16,840,063

The annexed notes I to 25 form an integral part of the condensed interim financial information.

Head of Finance

Industrial and Commercial Bank of China Limited - Pakistan Branches Condensed Interim Profit and Loss Account (Un-audited) For the quarter & nine months period ended September 30, 2018

Nole Nine months Ended September

2018 September

2017

Quarter Ended September September

2018 2017

-----------(Rupees in '000) ----------

Mark-up I Return I Interest Earned 17,727,048 13,188,273 6,859,156 5, 155,659 Mark-up I Return I Interest Expensed ~ll,771,444} (8,432,134) (4,975,981) p ,606,9702

Net mark-up I Interest Income 5,955,604 4,756,139 l,883,175 1,548,689

Provision against non-performing loans and advances I (9l,77~ID DD Provision for diminution in the value of investments Bad debts written off directly

~93,7772 Net Mark-up I Interest Income after provisions 5,861,827 4,756,139 1,883,175 1,548,689

NON MARK-UP I INTEREST INCOME Fee, commission and brokerage income 1,144,940 570,830 591,900 187,278 Dividend income Gain I (loss) from dealing in foreign currencies 17 692,266 (86,625) 207,679 109,572

Gain I (loss) on sale of securities Unrealized gain I (loss) on revaluation of investments

classified as held for trading Other income 12 419 12 175

Total non-mark-up I interest income l,837,218 484,624 799,591 297,025 7,699,045 5,240,763 2,682,766 1,845,714

NON MARK-UP I INTEREST EXPENSES Administrative expenses (897,633) (738,935) (313,096) (250,773) Other provisions I write-offs Other charges

Total non-mark-up I interest expense ~897,633} (738,9352 (313,096) ~250,773)

6,801,412 4,501 ,828 2,369,670 1,594,941 Extra ordinary I unusual items PROFIT BEFORE TAXATION 6,801,412 4,501,828 2,369,670 1,594,941

Taxation - Current 2,643,153 1,579,023 845,025 557,789 - Prior (379) 90,959 (379) - Deferred 13 2,950 (3,386) 947 194

2,645,724 1,666,596 845,593 557,983

PROFIT AFTER TAXATION 411551688 2,835,232 115241077 1,036,958

The annexed notes 1to25 form an integral part of the condensed interim financial information.

Industrial and Commercial Bank of China Limited - Pakistan Branches Condensed Interim Statement of Comprehensive Income (Un-audited) For the quarter & nine months period ended September 30, 2018

Note Nine months Period Ended Quarter Ended

September 2018

September 2017

September 2018

September 2017

------------------- (Rupees in '000) ------------------

Profit for the period after taxation

Other comprehensive income

Items that will not be reclassified to profit and loss account

Exchange adjustments on revaluation of capital

Comprehensive income - transferred to statement of changes in equity

Components of comprehensive income not reflected in Head Office account

(Deficit) /Surplus on revaluation of available for sale securities

Related tax

Total comprehensive income

14

8

13

4,155,688 2,835,232

1,191,149 29,272

5,346,837 2,864,504

(15,389) 25,883

5,386 9,059 (10,003) 16,824

5,336,834 2,881 ,328

The annexed notes I to 25 fonn an integral part of the condensed interim financial information.

1,524,077

237,182

1,761,259

11,880

4,158 7,722

1,768,981

1,036,958

20,346

1,057,304

17,023

(5,958) 11 ,065

1,068,369

Industrial and Commercial Bank of China Limited - Pakistan Branches Condensed Interim Cash Flow Statement (Un-audited) For the nine months period ended September 30, 2018

Note Nine months ended

September 30, September 30,

2018 2017 (Rupees in '000)

CASH FLOW FROM OPERATING ACTIVITIES

Profit before taxation 6,801,412 4,501 ,828

Adjustments for non-cash charges Provision against loan and advances 93,777 Gain on disposal of fixed assets (44)

Depreciation & amortization 40,100 60,314 6,935,289 4,562,098

Decrease I (Increase) in operating assets Lendings to financial institutions Advances (7,860,777) (1,434,695)

Other assets 6,347,890 3,932,178 (1,512,887) 2,497,483

(Decrease) I Increase in operating liabilities Bills payable (2,878,208) (279,672)

Borrowings 180,929,228

Deposits 25,780,696 (1 ,451,286) Other liabilities (1,153,186) 19,367,437

21,749,302 198,565 '707 27,171,704 205,625,288

Income tax paid (1,730,4702 {1 ,320,733) Net cash flow from operating activities 25,441,234 204,304,555

CASH FLOW FROM INVESTING ACTMTIES

Investments in operating fixed assets JO.I (15,920) (4,926) Sale proceeds of property and equipment disposed off 48 Net investments in available for sale securities 57,976,359 (34,032,970) Net cash flow from investing activities 57,960,439 (34,037 ,848)

CASH FLOW FROM FINANCING ACTIVITIES Capital injected during the period 14 1,727,072

29,;72 I Exchange adjustments on revaluation of capital 14 1,191,149 Net cash flow from financing activities 2,918,221 29,272 Net Increase/ (decrease) in cash and cash equivalents 86,319,894 170,295,979

Cash and cash equivalents at beginning of the period {168,392,2772 ~148, 781 , ] 722 Cash and cash equivalents at end of the period 18 {8220722383} 21,514:807

The annexed notes J to 25 form an integral part of the condensed interim financial information.

Head of Finance

Industrial and Commercial Bank of China Limited - Pakistan Branches Condensed Interim Statement of Changes in Equity (Un-audited) For the nine months period ended September 30, 2018

Note Head office Unremitted capital account profit

(Rupees in ' 000)

Balance as at January 01 , 2017 3,775,797 4,047,374

Total comprehensive income/or the nine months period ended September 30, 2017 Profit for period



Balance as at September 30, 2017

Total comprehensive income/or the quarter ended December 31, 2017

Profit for the period



Re-measurement of defined benefit plan - net of tax

Balance as at December 31, 2017

Capital injected during the period

Total comprehensive income/or the nine months period ended September 30, 2018 Profit for the period



Balance as at September 30, 2018

29,272 29,272

3,805,069

428,370

428,370 9,506,699

14 1,727,072

14 1,191 ,149

1,191,149 12,424,920

The annexed notes 1 to 25 form an integral part of the condensed interim financial information.

2,835,232

2,835,232 6,882,606

483,434

(626) 482,808

7,365,414

4,155,688

4,155,688 11,521,102

Total

7,823,171

2,835,232

29,272 2,864,504

10,687,675

483,434

428,370

(626) 911,178

16,872,113

1,727,072

4,155,688

1,191,149

5,346,837 23,946,022

Jt~~ Head of Finance

Industrial and Commercial Bank of China Limited - Pakistan Branches Notes to the Condensed Interim Financial Information (Un-audited) For the nine months period ended September 30, 2018

STATUS AND NATURE OF BUSINESS

The Pakistan branches of Industrial and Commercial Bank of China Limited ("the Branches") have commenced their operations in Pakistan with effect from August 18, 2011. Industrial and Commercial Bank of China Limited is incorporated in the People's Republic of China ICBC Group operates principally in Mainland China, with branches and

subsidiaries operating outside of Mainland China.

The Bank presently operates through three branches (December 31, 2017: three branches) in Pakistan and is engaged in banking activities permissible under the Banking Companies Ordinance, 1962. The registered office of the Bank is located at 16th Floor, Ocean Tower, Block 9, Clifton, Karachi.

Credit ratings assigned to the Head Office of the Bank by Moody's Investor Services Inc. are as follows: Long Term Rating Al Short Term Issuer Level Rating P-1

2 BASIS OF PRESENTATION

2.1 In accordance with the directives of the Federal Government regarding the shifting of the banking system to Islamic modes, the State Bank of Pakistan has issued various circulars from time to time. Permissible form of trade-related modes of financing includes purchase of goods by banks from their customers and immediate resale to them at appropriate mark-up in price on deferred payment basis. The purchases and sales arising under these arrangements are not reflected in the condensed interim financial infonnation as such, but are restricted to the amount of facility actually utilised and the appropriate portion of mark-up thereon.

2.2 The disclosures made in the condensed interim financial infonnation have been limited based on the fonnat prescribed by the State Bank of Pakistan through BSD Circular Letter No. 2 dated May 12, 2004 and the requirements oflntemational Accounting Standard 34, "Interim Financial Reporting". They do not include all of the infonnation required for the full annual financial statements and the condensed interim financial information should be read in conjunction with the financial statements of the branches for the year ended December 31, 2017.

3 STATEMENT OF COMPLIANCE

3.1 These condensed interim financial statements of the Branches have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of:

International Accounting Standard (IAS) 34, Interim Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017;

Provisions of and directives issued under the Banking Companies Ordinance, 1962;

Provisions of and directives issued under the Companies Act, 20 17; and

Directives issued by the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP).

Whenever the requirements of the Banking Companies Ordinance, 1962, the Companies Act, 20 I 7 or the directives issued by the SBP and the SECP differ with the requirements ofIFRS, the requirements of the Banking Companies Ordinance, 1962, the Companies Act, 2017 and the said directives, shall prevail.

3.2 The SBP vide BSD Circular letter No. 10, dated August 26, 2002 has deferred the applicability oflntemational Accounting Standard 39, 'Financial Instruments: Recognition and Measurement' and International Accounting Standard 40, 'Investment Property' for banking companies till further instructions. Further, according to the notification of the SECP issued vide SRO 411 (I)/2008 dated April 28, 2008, International Financial Reporting Standard (IFRS) 7, 'Financial Instruments: Disclosures' has not been made applicable for banks. Accordingly, the requirements of these standards have not been considered in the preparation of these condensed interim financial statements. However, investments have been classified and valued in accordance with the requirements of various circulars issued by the SBP. Further, segment information is being disclosed in accordance with the SB P's prescribed format as per BSD circular 4 dated February 17, 2006 which prevails over the requirements specified in IFRS 8, 'Operating Segments' .

3.3 The disclosures made in these unconsolidated condensed interim financial statements have been limited based on a format prescribed by the SBP vide BSD Circular Letter No. 2 dated May 12, 2004 and IAS 34, Interim Financial Repo.rting. They do not include all the disclosures required for annual financial statements, and these condensed interim financial statements should be read in conjunction with the financial statements of the Branches for the year ended December 31 , 2017.

4 SUMMARY OF SJGNJFTCANT ACCOUNTING POLICIES

The principal accounting policies and methods of computation adopted in the preparation of the condensed interim financial information are same as those applied in the preparation of annual financial statements of the branches for the year ended December 3 1, 20 17.

5 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

The significant judgements made by management in applying the branches accounting policies and key sources of estimation uncertainty were the same as those applied to the annual financial statements of the branches for the year ended December 31, 2017.

6 FINANCIAL RISK MANAGEMENT

7

The financial risk management objectives and policies are consistent with those disclosed in the annual financial statements of the branches for the year ended December 31 , 2017.

LENDINGS TO FINANCIAL INSTITUTIONS

Cal.I money !endings Repurchase agreement !endings (reverse repo)

Note

7.1 7.2

September 30, 2018

December 31, 2017

(Un-audited) (Audited) (Rupees in '000)

10,270,864 200,407,337 210,678,201

118,285,067 118,285,067

7.l These represent call !endings to financial institutions and other branches ofICBC at mark-up rates ranging from 3.4% to 7.5% per annum with maturities upto December 2018.

7.2 These represent repurchase agreement !endings to financial institutions and other branches of ICBC at mark-up rates ranging from 7.5% to 7.7% per annum (December 31, 2017: 5.75% to 5.90%) with maturities upto October 2018 (December 31, 2017: March 2018).

8 INVESTMENTS

lnvestmt nts by type -

avai11blt-for-S1lt securities

Pakistan Investment Bond

Manet Treasury Bills . at cost

Deficit on revaluation of available

Note

8.1

8.2

~pltmber 30, 2018 (Un-Audited)

Hdd by tbc

branches

Givtn u

Collateral Tot1l

- -- (Rupttj in '000)---

1,042,504

176,119,485

1,042,504

176,119,485

December 31 I 2017 (Audited)

Held by Given as

the branches Collateral Total

---(Rupees in '000)---

1,079,320

234,059,028

1,079,320

234,059,028

for sale securities __ (_64_,6_9_7) _ ______ (6_4_,6_9~...;_ ____ (4_9.3_0_8_) _________ (_49_,3_0~8)

Total investments at market value 177,097,292 177,097,292 235,089,040 235,089,040

8.l This Pakistan Investment Bond will mature upto July 2019 (December 2017: upto July 2019) and carry interest rate at 11.5% per annum (December 2017: at 11.50% per annum).

8.2 These Market Treasury Bills will mature upto October 2018 (December 2017: upto March 2018) and interest rate at 7.73% to 8.08% per annum (December 2017: from 5.90% to 6.01% per annum).

9 ADVANCES

Loans, cash credits, running finances, etc. In Pakistan

Bills discounted and purchased (excluding market treasury bills) Payable in Pakistan

Advances - gross

Provision against advances - Specific - General

Advances - net of provisions

9.1 No advances have been placed under non-performing status.

JO OPERA TING FIXED ASSETS

Property and equipment Intangible assets

September 30, 2018

December 31, 2017


14,512,569 3,678,734

1,594,755 4,567,8 13 16,107,324 8,246,547

(176,;42)1 {82,;65)1 (176,242) {82,465)

15,931,082 8 164 082

September 30, December 31, 2018 2017


554,844 2,378

557,222

581 ,047

581 047

10.1 Additions during the period

l l BORROWINGS

In Pakistan Outside Pakistan

11.1 Particulars of borrowings with respect to currencies

In local currency In foreign currencies

11 .2 Details of borrowings

Unsecured Call borrowings

Note

11.3

Nine months ended September 30, September 30,

2018 201 7 (Un-audited)

(Rupees in '000)

15,920

September 30, 2018

4 926

December 31, 2017


311 ,865,492 311,865,492

311,865,492 311,865,492

311,865,492

4,803,323 298,921,504 303 ,724,827

4,803,323 298,921,504 303,724.827

303,724.827

11.3 These represent borrowings from financial institutions and other ICBC branches at mark-up rates ranging from 2.3 8% to 3.0% per annum (December 31, 2017: 0.55% to 4.8% per annum) maturing by November 2018 (December 31, 201 7: March 2018).

12 DEPOSITS AND OTHER ACCOUNTS

Customers Fixed deposits Savings deposits Current accounts - non-remunerative

Financial institutions Remunerative deposits

Non-remunerative deposits

12.1 Particulars of deposits

In local currency In foreign currencies

13 DEFERRED TAX ASSET

Deferred debits arising in respect of - Investments - available for sale - Remeasurement of defined benefit liability

Deferred credits arising in respect of - Accelerated tax depreciation

Note

12.1

September 30, December 31, 2018 2017


32,634,160 29,515,521 20,649,874 82,799,555

256,960 422,379

83,478,894

76,399,647 7,079,247

83,478,894

22,644 443

23,087

(20,018) 31069

29,258,065 18,966,178 9,391,916

57,616, 159

82,039 57,698,198

49,791, 139 7,907,059

57.698,198

17,258 443

17,701

{17,068) 633

14 HEAD OFFICE CAPITAL ACCOUNT September 30, December 3 1, 2018 2017


Capital held as interest free deposit in approved foreign exchange USD 100.0 million (December 31, 2017: USD 86.098 million)

Balance at beginning of the period 9,506,699 3,775,797 Capital Injected during the period 1,727,072 5,273,260 Revaluation advised by the State Bank of Pakistan during the period 1,191,149 457,642

12,424,920 9,506,699

15 DEFICIT ON REVALUATION OF INVESTMENTS - NET OF TAX

Deficit on revaluation of government securities (64,697) (49,308) Related deferred tax asset 22,644 17,258

(422053} (32.050}

16 CONTINGENCIES AND COMMITMENTS

16.1 Transaction related contingent liabilities

Government 90,554,551 88,082,464 Others 156,635,240 133,973,2 10

24721892791 222,055,674

16.2 Trade related contingent liabilities

Letters of credit 2,984,888 1,434,228 Acceptance 2.62 1,000 646,625

16.3 Commitments in respect of forward exchange contracts

Purchase 5062593J26 537,532,562 Sale 5092176,510 530,373,631

16.4 Commitments in respect of repo transactions

Repurchase 2002407J37 118,285.067 Resale

16.5 Tax related contingencies are disclosed in note 20 to the condensed interim financial information.

17 GAIN/ (LOSS) FROM DEALING IN FOREIGN CURRENCIES

This represents exchange differences on forward contracts, foreign currency transactions and balances.

18 CASH AND CASH EQUIVALENTS

Cash and balances with treasury banks Balances with other banks Short term !endings to financial institutions Short term borrowings

September 30, 2018

December31 2017


17,197,625 1,917,283

2 I0,678,20 I (311,865,492)

(82'°72J83)

15,585,904 1,461,579

118,285,067 (303,724,827) (168,392,277)

., RELATI:DPARTYTRANSACTIONS

Relllcd parlles comprise of head otlice, olhor brml<hes oflndllSlnal one! Commemal bank ofCluna OCBC), Key M-ent personnel one! staff .-ement benefit funds Tbe tnnsac1>0n< "''th rtillcd parties are a>nducted und<T normal coune of business. The branches oho pro•'lde ad•·ances to tmplo)- 11 r<duced rou ., acco"""" '""' thetr l<mlS of emplo)'ment Details of the -ns with related parties durina the period one! balances wi1h them is Jlivm below

Mf:lanbt'r 301 1011 (U••u~lited} ..... ""'-·- ·-_,_ blan<ttWllltOllltrbaftks 1D tumnt acc:ount

lnlltpositAccount

----Lc.ndin11 to nna.dal institut ... ()pcninaBalance Addition durina the period RepaMI durint the period ----Ck>tina Balance ----Actnnct1

()paW.1 -..

Addition ...... the pmod llcplld ....... the penod (« ) T,_lcrm/(-) · Dd ----cio. .. ,_ -.. ,,........, r.-11uo<11l ialli()pauna BaJancc

- ........ .,..pmod Scttlod <MUia the penod

Clooina BaJancc

Dtpos;t & Oth<r A.-.U ()pcnina Balance Rc«ivcd durinl the period W1thdn\lll'ft durin.& lhc period Oosing Balanct

Othc.rlilbititttt

Pa)..blc M> htad otnoc P•.l•bk tocmplo)'CIC bcndi1 P'-1

-----22.JO

''"7 MM

2H.1'4 (2'1.Sl4) ~-~~~

2,!JI ~----.........

C-.ICOC "-'"'"'" -(Rupon ID '808)

1,.156,124 '6USI

·~5'~14 '"!SI

'7Sl6.lH !'7,355,126)

2711!!;!

1'1-'ll~

2,sJ l.ltl,.!'3 '3,7lt.14t

!2.SIU41~ !'3,71'.14t! 311.USr'' l

. ....

1-'17Jl2

119171!82

47Sl6.lff

!0.333,.12~ 17•!!;!

.w

(;4)

2H-'11~

l,!'3S32,Jll !2.sl2.6U.J«)

3117"5..&tl

25.151 .IM,!31

1m.eu1 31~1

- ---------------------

1: • .,.....

Muk-uplmumlinterest paid Rem unention paid to key maoaaemen1 peJtomd Contnbuoon 10 gratu1t)' f\md Contribuuon \o provtdent f\md

Coetio&•nd., & to....i-.1 Letter or guaran1'C Forward exchange contract sale Forward eicchan&• contract purchl

20 TAXATION

116 41 lt7.llt

ll"81Ml 1 75~'2.471

174,644.841

2-'74 11,lst

7.114 5,7'5.tlJ lt7.llt

4,7t4

"™

11"81,441 175,142.672 l74S4'.16l

.... ._ ._ ....

----

-

-

-----15,711

1,04 (1.129) ll 343

----

431

l.ll6 l ,735

Dec:ember 31, 2017 !Auchled) ..,_ ._ICBC._._ """""""' -(Rupees '" '000)

1.004Jl1 457.261

11004~11 •l7 261

209,910 130.019.55•

!ll0.299.464)

500 (456)

••

79,J90J61 19,640,915 4,lll.150.221 2l2.JOJ.J02

!4.334.J 11.971) Q• l .944,217) 291192 l ,l04

7.666 27"484

!279.642) ) 501

1,535,020

1 l35 020

Nine - ended~ 30, 2017 (lhHoodital)

17

26 314.111

~l•'"')

11.72!

2.346.231

139,75$.604 140,717.113

3.421

542.279

. ...

1,461 ,579

I 461.l71l

209,910 ll0,019.ll4

!130.299,464)

500 (456) ..

169.031,176 4,106,l ll.lll

(4.676.26l,19l) 298 921.504

ZJ.384 283.931

!211.471) 25151

l,,),,020

Ill' 020

22.17V

2.Ul,974 384,111

1,!86 3,735

139.7!5.604 140, 717,813

20 The incomt tax authorities have iSJued amended assessment orders for lhe ta." Yett 2012 to 2014, and created addiuonal laX demand of Rs. 45.1 million on account of m1.nimum tax t.WKler sccuon 113 of the lnoome Tu Ordinance, 2001. The bnnch had file an appeal before hiJb<r forum aaainst these amendments one! JS confident thOl lheoutc0meorthe appeal "'ill be decoded in favour or the brencll, therefore, no provision is m:ognised in the condensed int<rim financial inl'orm1tion.

ll FAIR VALUE OF FINANCIAL INSTRUMENTS

The faor "11ue of quoted -uritJes other than those classified as held to matunty, 1s based on quoted marlcet pnce. Quoted -unties classified as held to maturity are comed at cost. The f&1r value of unquoted equity-urities, other than in~tment 1n 1WOC1ates lltld subs1d1anes, is determined on the bastS of the bruk·up value of these mvestments as per their latest available audited financial statements

The fiur value of unquoted debt seeunlles, fixed term loans, other assets, other hab1ht1es, fixed tenn deposits and borrowings cannot be calculated with suflic1cnt rchabihty due to the abwncc of a current and active market for these assets and liabihties and rehablc data regarding market rates for s1m1lar instruments,

In the opinion of the management. the fair ..iue of the remaining financial assets and liabilibes arc not significantly different from their carrying values since these are either short·term m nature or, in the case of custome.r loans and deposits, are frequently repriced.

21 .J The Branches measures fair values using the following fair value hierarchy that reflects the significance of the inputs used in making the measurements:

Level I: Fair value measurements using quoted prices (unadjusted) 1n active markets for 1dcnt1cal assets or liabilities.

Level 2· Fair value measurements using inputs other than quoted prices included within Level 1 that 11e observable for the assets or liab1hty, either directly (i e . as pnccs) or indirectly (i .e. derived from prices)

Level)· Fair value measurements usmg input for the asset or liability that arc not based on observable market data (i.e. unobservable inputs).

The tablt below analyses financial instnunents measured at the end of the reporung period by the 1evel in the fair value hierarchy into which the fair value measurement is categonsed:

s.,tt-r 3'1, ?1111 (11....-.i)

4.5SS~l •.555.1!!2 ·~l

177,IW7.l'l 177J197,lfl 177..,7.l'l

Fi•udal l lldt Mt mc: .. ttd et f llir valiK

- Cash and baM. t.lanc:cl •ilh trcaRllY tut

• 8alaDOCI with ....... -- Lcncbftll to financia1 inai1utioos

·Achuccs

• Olhcr auets

fi .. 1teial HabUhin MNUred at fair nhlt

0.heT JiabUitict - forward foreign ~change

COOltaCU

fiaudal Ual>ititia Mt .... mt at fair •alM

·Bills poyabk

- Bono~inngt from financll.I tnStJtulJODS

- l)cpoliu ud otht1 8C:CWftU

. °""' babthtl<S

O«rbolanct.-fulancWiARJwncnu

• f..,.'ltd pwcboK o( IOmp =ban&< """1llCtS

· F..-d sale o(rc,..;p =iwl&< oontnas

Financial UldJ mcasu~ al fai1 '-aloe

Ol.htt wets - rorward foreign cxchan,gt COntn<IJ

-ln\'CSUntnts

n.aKJal tAdl ...

.... rd 11 tatr ntN:

- CMh tad blnk balanca .. ith t.rc:asmy t..nk • Balaftc::cs Willi otbct t.nkJ

- Lenchna 10 D.nnciaJ iftRfnlDoM

· Alh'lll<a

-OU...-

fla.udal U..lhlitia: anw.mt at fair ,.,.._

OU... llli>thtJCS . -'ltd rc,..;p =haoa<

"""""' F'l•bC.' • l liUUitk:t ... mM.,.rcd t:t ra&r vUH

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21.2 The Branches have not disclosed the fair values for financial instruments such as short·tenn trade recei-vables and payables~ because their carrying amounts are reasonable approximation of fair values.

11.SS..Oll

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3.715,499

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22 SEGMENT DETAILS WITH RESPECT TO BUSINESS ACTIVITIES

The segment analysis with respect to business activity is as follows:

Total income Total expenses Net income

Segment assets

Segment liabilities

Quanerly segment return on assets (ROA)

Quarterly segment cost of funds

Total income Total expenses Net income

Segment assets

Segment liabilities

Quanerly segment return on assets (ROA)

Quarterly segment cost of funds

23 LIQUIDITY RISK

Corporate T rading and Others Total Finance Sales Nine months period roded September 30, 2018 (Un-audited) - ------(Ru pees in '000)-------

596,897 18,967,369 19,564,266

{468,804) {12~53,950) {401100) {12,762,854} 128,093 6,713,419 (40,100) 6,801,412

Corporate Trading and Others Total Finance Sales

As at September 30, 2018 (Un-audited) -------(Rupees in '000)-------

15,931,082 406,890,401 6,247,287 429,068,770

14,895,799 380,448,587 9,820,415 405,164,801

4.99% 5.01% 0.00%

3.32o/e 3.41 % 0.33% ---==-Corporate Trading and Others Total

Finance Sales Nine months period ended September 30, 2017 (Un-audited) ------- (Rupees in '000)-------

316,405 13,356,492 13,672,897

(175,602) -~<~8,~93_4~,7_76~2--~<60~,3_14~) (9, 170,692) 140,803 4,42 1,716 (60,314) ~-4 ..... 50=2=).=05=

As at September 30, 2017 (Un-audited) ------ - (Rupees in '000)-------

7,531,422 391,919,670 3.807,694 403,258,786

6,773,937 352,501,733 33,317,159 392,592,829

--~4..,.64....,o/c.-o - -== 4=.2=9=o/c:.o --=O'=.~"""'Yc8o

2.81% 3.14% 0.26% ------- --===

Bank calculates the Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) as per SBP Basel lil Liquidity Standards issued under BPRD circular no. 08 dated June 23, 20 16. As of September 30, 2018, the Bank's LCR stood at 194.57% (December 2017: 157.2%) and NSFR stood at 141.1% (December 2017: 127.00/o) against the SBP's minimum requirement of 90% and 100% respectively.

24 DATE OF AUTHORISATJO '

The condensed interim financial information was authorised for issue by the Chief Executive Officer and Head of Finance of the Branches on 23rd October 2018.

25 GENERAL

The condensed interim financial information is presented in Pak Rupees which is the presentation currency of the Branches and rounded off to the nearest thousand rupees.

Chief

Industrial and Commercial Bank of China Limited...

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