Professional Documents
Culture Documents
Note
ASSETS
Cash and short-term funds
Reverse repurchase agreements
Deposits and placements with banks and other financial institutions
Financial assets held for trading
Derivative financial instruments
Financial investments available-for-sale
Financial investments held-to-maturity
Loans, advances and financing
Other assets
Tax recoverable
Deferred tax assets
Statutory deposits with central banks
Investment in associates and joint ventures
Property, plant and equipment
Investment properties
Prepaid lease payments
Goodwill
Intangible assets
A8
A22
A9
A10
A11
A12
A13
A14
A15
A22
A16
B7
B7
B7
The Group
30 September 2014
31 December 2013
RM'000
RM'000
30,453,889
3,600,617
4,513,646
25,935,149
4,791,682
30,331,711
17,042,556
243,606,375
11,299,355
42,818
310,150
7,270,970
1,026,661
1,365,001
4,000
138,916
7,884,523
1,864,046
391,482,065
96,686
391,578,751
33,678,882
8,260,504
3,789,019
23,403,280
5,020,453
30,334,058
10,821,493
228,431,705
7,990,355
64,578
357,250
6,361,648
1,013,482
1,546,783
4,000
147,901
7,877,463
1,760,225
370,863,079
49,718
370,912,797
263,523,263
30,878,246
5,900,758
2,966,284
6,097,173
4,846,901
10,478,225
584,905
145,045
7,370,264
7,744,227
12,583,398
766,271
353,884,960
263,004,302
20,727,845
5,922,788
2,132,170
6,009,608
4,713,219
8,562,039
384,800
50,327
7,490,265
7,772,727
12,066,700
847,447
339,684,237
8,336,522
28,379,359
(563)
(41)
36,715,277
7,729,346
22,542,356
(563)
(41)
30,271,098
200,000
778,514
37,693,791
200,000
757,462
31,228,560
391,578,751
370,912,797
640,627,219
522,489,461
4.40
3.92
A23
The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements for the financial year ended 31 December
2013.
Page 1
Note
Interest income
Interest expense
4,040,241
(1,869,190)
3,752,636
(1,718,993)
11,836,758
(5,423,479)
10,890,566
(4,984,748)
2,171,051
355,258
987,448
2,033,643
379,996
1,068,274
6,413,279
1,083,912
2,955,602
5,905,818
1,142,715
3,300,971
3,513,757
14,839
3,481,913
3,157
10,452,793
21,030
10,349,504
525,113
3,528,596
(2,033,896)
3,485,070
(2,059,290)
10,473,823
(6,052,721)
10,874,617
(6,321,310)
1,494,700
1,425,780
4,421,102
4,553,307
Overheads
Profit before allowances
Allowance made for impairment losses on loans, advances and
financing
Allowance made for impairment losses on other receivables
Allowance written back for commitments and contingencies
Recoveries from investment management and securities services
Allowance made for other impairment losses
A17
A18
The Group
3rd quarter ended
Nine months ended
30 September
30 September
30 September
30 September
2014
2013
2014
2013
RM'000
RM'000
RM'000
RM'000
A20
A21
B4
B9(a)
B9(b)
(344,227)
(5,433)
9,089
(7,803)
(200,365)
(9,934)
(4,739)
(602,853)
(19,054)
10,918
804
(23,590)
(352,116)
(18,220)
1,334
(4,079)
1,146,326
1,286
31,651
1,210,742
9,823
165,692
3,787,327
(2,551)
106,709
4,180,226
48,372
262,576
1,179,263
(276,320)
1,386,257
(307,520)
3,891,485
(942,249)
4,491,174
(939,002)
902,943
1,078,737
2,949,236
3,552,172
890,270
12,673
902,943
-
1,061,691
17,046
1,078,737
-
2,906,490
42,746
2,949,236
-
3,502,136
50,036
3,552,172
-
10.7
N/A
13.9
N/A
35.2
N/A
46.5
N/A
The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements for the financial year ended 31 December 2013.
Page 2
902,943
1
23
(171)
(147)
163,487
216,117
1,078,737
(314,508)
(507,681)
2,949,236
3,552,172
(81)
1,108
(121)
906
189,187
300,791
(836,040)
(812,564)
(18,993)
(34,891)
1,254
(47,018)
(1,149)
(556)
(593)
34,826
(16,157)
133,989
(9,173)
208,265
(5,919)
(77,125)
(8,584)
(8,584)
(1,030,667)
(1,430,884)
(85,449)
(28,402)
2,247
20,649
7,624
9,610
(1,986)
(8,100)
(3,745)
205,615
(206,624)
189,072
(5,924)
(129,544)
(10,362)
(10,362)
(710,439)
5,213
(1,681,172)
133,842
(1,430,884)
206,521
(1,681,172)
1,036,785
(352,147)
3,155,757
1,871,000
1,022,715
14,070
1,036,785
(0)
(337,573)
(14,574)
(352,147)
-
3,113,351
42,406
3,155,757
(0)
1,852,734
18,266
1,871,000
-
The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements for the financial year ended 31 December 2013
Page 3
Share
capital
RM'000
At 1 January 2014
Profit for the financial period
Other comprehensive income (net of tax)
- financial investments available-for-sales
- net investment hedge
- hedging reserve - cash flow hedge
- remeasurement of post employment
benefits obligations
- currency translation difference
- share of other comprehensive income of
associate and joint ventures
Total comprehensive income for the period
Dividend for the financial year ended
31 December 2013
- single tier second interim dividend
Non-controlling interest share of dividend
Transfer to statutory reserve
Transfer to regulatory reserve
Arising from disposal of equity interests
in subsidiaries
Arising from increase in capital of
subsidiaries
Share-based payment expense
Shares released under Equity Ownership
Plan
Purchase of shares in relation to Equity
Ownership Plan
Issuance of shares arising from:
- dividend reinvestment scheme
- private placement
At 30 September 2014
7,729,346
Share
premiumordinary
shares
RM'000
Other
reserves
RM'000
Share-based
payment
reserve
RM'000
(41)
(42,709)
(271,510)
185,301
189,046
-
29,179
20,649
7,624
(212)
-
70
(7,477)
906
-
(212)
70
(7,477)
29,179
(212)
381,522
-
81,087
69,295
(127,615)
137,104
(2,114,454)
(563)
-
(41)
-
Page 4
(3,745)
185,301
142,592
(300,651)
101,642
Regulatory
reserve
RM'000
(7,477)
-
5,314,637
(563)
Treasury
shares
RM'000
9,468,881
(0)
(2,106,977)
Shares held
under trust
RM'000
70
-
8,336,522
-
137,104
Exchange
fluctuation
reserve
RM'000
594,827
3,041,534
4,933,045
Capital
reserve
RM'000
107,176
500,000
5,832,520
Statutory
reserve
RM'000
Revaluation
reserve financial
investments
availablefor-sale
RM'000
1,743,883
Retained
earnings
RM'000
Total
RM'000
12,215,358
30,271,098
2,906,490
-
2,906,490
206,861
189,046
20,649
7,624
Perpetual
preference
shares
RM'000
200,000
Non-controlling
interests
RM'000
757,462
Total
RM'000
31,228,560
42,746
(340)
141
-
906
(7,619)
(481)
(3,745)
3,113,351
42,406
(3,745)
3,155,757
(850,091)
(381,522)
(302,231)
(850,091)
-
(1,337)
-
(850,091)
(1,337)
-
(9,599)
(9,599)
(26,692)
(36,291)
81,087
6,675
-
6,675
81,087
(75,786)
(6,491)
(6,491)
(127,615)
(127,615)
106,731
302,231
2,046,114
2,906,490
13,578,405
702,003
3,541,534
36,715,277
0
200,000
-
778,514
-
2,949,236
206,521
189,187
20,649
7,624
906
(8,100)
702,003
3,541,534
37,693,791
(0)
Share
capital
RM'000
At 1 January 2013
Profit for the financial period
Other comprehensive income (net of tax)
- financial investments available-for-sales
- net investment hedge
- hedging reserve - cash flow hedge
- currency translation difference
- share of other comprehensive expense
of associate and joint ventures
Total comprehensive income for the period
Dividend for the financial year ended
31 December 2012
- single tier second interim dividend
Non-controlling interest share of dividend
Transfer to statutory reserve
Transfer to regulatory reserve
Transfer to capital reserve
Arising from (dilution)/accretion of equity
interests in subsidiaries
Purchase of treasury shares
Share-based payment expense
Shares released under Equity Ownership Plan
Purchase of shares in relation to Equity
Ownership Plan
Arising from staffs resigned under Equity
Ownership Plan
Issuance of shares pursuant to Dividend
Reinvestment Plan
At 30 September 2013
7,432,775
Share
premiumordinary
shares
RM'000
4,192,596
Statutory
reserve
RM'000
Share-based
payment
reserve
RM'000
800,965
(149,444)
59,459
(692,538)
(692,538)
(816,596)
(821,809)
-
(140,414)
(130,052)
(10,362)
-
173
-
(27)
(692,538)
5,213
(816,596)
(140,414)
44,667
-
2,001
4,351,104
139,105
(1,568,710)
(32)
Other
reserves
RM'000
970,303
(563)
Treasury
shares
RM'000
(27)
(27)
5,162,899
(876,172)
Shares held
under trust
RM'000
183,076
137,104
Exchange
fluctuation
reserve
RM'000
7,615,851
4,306,464
Capital
reserve
RM'000
Revaluation
reserve financial
investments
availablefor-sale
RM'000
Regulatory
reserve
RM'000
1,173,577
Retained
earnings
RM'000
Total
RM'000
Perpetual
preference
shares
RM'000
Total
RM'000
11,216,265
28,292,994
773,325
29,266,319
173
3,502,136
-
3,502,136
(1,649,402)
(821,809)
(130,052)
(10,362)
(692,392)
50,036
(31,770)
(14,231)
508
(18,047)
3,552,172
(1,681,172)
(836,040)
(129,544)
(10,362)
(710,439)
173
3,502,136
5,213
1,852,734
18,266
5,213
1,871,000
(1,366,143)
(44,667)
(460,859)
-
(1,366,143)
2,001
(6,054)
-
(1,366,143)
(6,054)
2,001
(1)
72,230
(51,795)
447
-
447
(1)
72,230
(51,795)
72,230
(51,795)
(63,953)
(63,953)
(63,953)
7,879
7,879
7,879
(563)
(1)
(33)
(15,631)
The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements for the financial year ended 31 December 2013.
Page 5
(353,811)
80,067
460,859
-
200,000
Non-controlling
interests
RM'000
1,634,436
12,854,611
1,153,379
29,899,325
200,000
785,984
1,153,379
30,885,309
3,891,485
4,491,174
637,847
4,529,332
3,912,718
(17,990,801)
13,633,433
(4,357,368)
(26,289,259)
28,244,621
1,955,362
(578,456)
171,964
Taxation paid
(578,566)
(406,602)
(6,251,636)
3,490,586
Net (decrease)/increase in cash and cash equivalents during the financial period
Effects of exchange rate changes
(3,167,652)
(57,341)
5,868,080
(846,120)
5,021,960
(3,110,717)
431,521
2,342,764
(785,612)
33,678,882
30,759,899
30,453,889
32,317,051
(3,715,060)
(32,287)
(3,815,629)
(29,695)
26,706,542
28,471,727
(1,361,831)
* This represent non-interest bearing statutory deposits of a foreign subsidiary maintained with Bank Indonesia in compliance with their
applicable legislation which is not readily available for use by the Group.
The unaudited condensed interim financial statements should be read in conjunction with the audited financial statements for the financial year ended 31 December 2013.
Page 6
BASIS OF PREPARATION
The unaudited condensed interim financial statements for the financial period ended 30 September 2014 have been prepared under the
historical cost convention, except for financial assets held for trading, financial investments available-for-sale, derivative financial
instruments, investment properties and non-current assets/disposal groups held for sale and financial liabilities designated at fair value,
that have been measured at fair value.
The unaudited condensed interim financial statements have been prepared in accordance with MFRS 134 Interim Financial Reporting
issued by the Malaysian Accounting Standards Board and paragraph 9.22 of Bursa Malaysia Securities Berhad's Listing Requirements.
The unaudited condensed interim financial statements should be read in conjunction with the Group's audited financial statements for the
financial year ended 31 December 2013. The explanatory notes attached to the condensed interim financial statements provide an
explanation of events and transactions that are significant to an understanding of the changes in the financial position and performance of
the Group since the financial year ended 31 December 2013.
The significant accounting policies and methods of computation applied in the unaudited condensed interim financial statements are
consistent with those adopted in the most recent audited annual financial statements for the financial year ended 31 December 2013, and
modified for the adoption of the following accounting standards applicable for financial periods beginning on or after 1 January 2014:
Amendment to MFRS 132 Financial instruments: Presentation
Amendments to MFRS 10, MFRS 12 and MFRS 127 Investment entities
Amendment to MFRS 139 Financial Instruments: Recognition and Measurement - Novation of Derivatives and
Continuation of Hedge Accounting
IC Interpretation 21 Levies
The adoption of the new standards, amendments to published standards and interpretations are not expected to have impact on the
financial results of the Group and the Company.
The unaudited condensed interim financial statements incorporate those activities relating to Islamic banking which have been
undertaken by the Group. Islamic banking refers generally to the acceptance of deposits, granting of financing and dealing in Islamic
securities under Shariah principles.
The preparation of unaudited condensed interim financial statements in conformity with the MFRS requires the use of certain critical
accounting estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the unaudited condensed interim financial statements, and the reported amounts of income and expenses during
the reported period. It also requires Directors to exercise their judgement in the process of applying the Group and Company's accounting
policies. Although these estimates and assumptions are based on the Directors' best knowledge of current events and actions, actual
results may differ from those estimates.
A2.
CHANGES IN ESTIMATES
There were no material changes to financial estimates made in respect of the current financial period that had previously been announced
or disclosed.
A3.
Page 7
A3.
Page 8
A4.
A5.
A6.
A7.
Page 9
Quoted securities:
In Malaysia:
Shares
Outside Malaysia:
Shares
Private debt securities
Other Government bonds
Bank Indonesia certificates
Investment linked funds
Unquoted securities:
In Malaysia:
Private and Islamic debt securities
Shares
Outside Malaysia:
Private and Islamic debt securities
Shares
Unit trust
Page 10
450,438
10,151
63,828
3,039,683
3,916,941
715,666
5,441,958
101,899
233,142
13,973,706
422,188
14,891
75,075
3,638,918
1,874,343
345,728
49,347
4,197,517
362,189
106,451
11,086,647
2,994,117
1,533,392
27,142
385,158
1,951,765
559,758
547,666
6,465,606
114,456
325,660
1,100,785
546,404
497,482
4,118,179
2,274,463
6,772
5,324,359
6,716
3,135,186
70,245
9,171
5,495,837
2,791,654
66,332
9,393
8,198,454
25,935,149
-
23,403,280
-
A9.
Quoted securities:
In Malaysia:
Shares
Unit trusts
Outside Malaysia:
Shares
Private and Islamic debt securities
Other Government bonds
Unit trusts
Unquoted securities:
In Malaysia:
Private and Islamic debt securities
Shares
Loan stocks
Property funds
Outside Malaysia:
Shares
Private equity and unit trust funds
Private and Islamic debt securities
Loan stocks
438,154
65,515
523,521
255,329
43,396
2,522,561
29,574
18,240
3,896,290
621,477
239,735
322,874
254,035
27,052
2,518,856
34,793
4,018,822
175,462
5,749
221,771
163,834
4,459
1,809,043
4,141,875
86,374
6,222,962
27
1,586,488
4,611,523
86,798
6,670,441
13,977,169
1,074,571
10,433
189
13,629,307
1,080,282
10,433
189
49,201
366,596
5,025,082
790
20,504,031
30,623,283
51,720
384,807
4,754,199
1,672
19,912,609
30,601,872
(64,924)
(56,065)
(15,988)
(5,525)
(138,265)
(372)
(10,433)
(291,572)
30,331,711
-
Page 11
(70,743)
(29,493)
(15,988)
(5,650)
(135,121)
(386)
(10,433)
(267,814)
30,334,058
-
A10.
Quoted securities
Outside Malaysia
Private debt securities
Islamic bonds
Other Government bonds
Bank Indonesia certificates
Unquoted securities
In Malaysia
Private debt securities
Loan stocks
Outside Malaysia
Private debt securities
972,744
186,909
772,821
16,672
9,940
245,639
2,502,158
4,706,883
802,446
160,997
780,810
16,830
9,845
66,736
808,104
2,645,768
2,470,489
116,225
982,750
178,112
3,747,576
1,930,753
6,789
501,824
155,219
2,594,585
7,551,862
27,388
4,479,105
27,388
1,030,204
8,609,454
17,063,913
1,116,035
5,622,528
10,862,881
11,205
(32,562)
(8,516)
(32,872)
17,042,556
10,821,493
Included in the financial investments held-to-maturity of the Group as at 30 September 2014 are 10-year promissory notes of THB9 million
(2013: THB9 million) maturing between 2014 to 2015, which were received from Thai Asset Management Corporation (TAMC) for
settlement of impaired loans transferred by CIMB Thai Bank to TAMC. Such promissory notes are non-transferable, bear interest at the
average deposit rate of 5 major banks in Thailand and availed by the Financial Institutions Development Fund. As part of the agreement to
transfer the impaired loans to TAMC, CIMB Thai Bank has a gain and loss sharing arrangement with TAMC arising from the recovery of
the impaired loans. During the previous financial year, CIMB Bank Thai has recognised a gain of approximately RM113 million arising
from the sharing agreement.
Page 12
The Group
30 September 2014
31 December 2013
RM'000
RM'000
At amortised cost
Overdrafts
Term loans/financing
- Housing loans/financing
- Syndicated term loans
- Hire purchase receivables
- Lease receivables
- Factoring receivables
- Other term loans/financing
Bills receivable
Trust receipts
Claims on customers under acceptance credits
Staff loans *
Credit card receivables
Revolving credits
Share margin financing
Other loans
Gross loans, advances and financing
Fair value changes arising from fair value hedge
Less: Allowance for impairment losses
- Individual impairment allowance
- Portfolio impairment allowance
5,438,969
5,659,427
61,427,832
13,489,068
15,332,062
113,916
19,231
92,431,445
10,850,121
1,665,898
4,815,152
850,932
7,018,580
33,336,461
2,733,823
2,293
249,525,783
151,437
249,677,220
56,905,328
13,911,828
14,428,652
142,147
22,312
88,843,150
9,239,224
2,077,961
4,942,558
756,729
6,440,933
28,830,969
2,354,659
1,665
234,557,542
140,453
234,697,995
(2,852,918)
(3,217,927)
(6,070,845)
Total net loans, advances and financing
243,606,375
* Included in staff loans of the Group are loans to Directors amounting to RM12,494,269 (2013: RM8,409,959).
(3,005,066)
(3,261,224)
(6,266,290)
228,431,705
-
(a) Included in the Group's loans, advances and financing balances are RM52 million (2013: RM57 million) of reinstated loans which were
previously impaired and written off prior to 2005. The reinstatement of these loans has been approved by BNM on 5 February 2010 and
were done selectively on the basis of either full settlement of arrears or upon regularised payments of rescheduled loan repayments.
(b) The Group has undertaken fair value hedge on the interest rate risk of loans, advances and financing with RM8,024 million (2013:
RM8,182 million), using interest rate swaps.
The Group
30 September 2014
31 December 2013
RM'000
RM'000
Gross loan hedged
8,023,716
8,181,776
Fair value changes arising from fair value hedges
151,437
140,453
8,175,153
8,322,229
The fair value loss of interest rate swaps in these hedge transaction as at 30 September 2014 was RM178 million (2013: RM101 million).
Page 13
The Group
30 September 2014
31 December 2013
RM'000
RM'000
1,583,007
1,078,983
48,243
2,622,667
10,210
2,572,679
36,687,572
46,764,856
8,908,702
120,711,180
2,295,043
29,904,513
249,525,783
-
31,258,050
48,095,116
11,885,181
111,963,768
2,020,750
25,672,805
234,557,542
-
The Group
30 September 2014
31 December 2013
RM'000
RM'000
Fixed rate
- Housing loans/financing
- Hire-purchase receivables
- Other fixed rate loans
Variable rate
- BLR plus
- Cost plus
- Other variable rates
Gross loans, advances and financing
(iv) By economic purpose
1,830,669
15,318,317
39,057,353
1,786,148
14,414,027
41,358,703
122,628,063
30,336,477
40,354,904
249,525,783
-
114,131,244
26,730,436
36,136,984
234,557,542
-
The Group
30 September 2014
31 December 2013
RM'000
RM'000
Personal use
Credit card
Purchase of consumer durables
Construction
Residential property (Housing)
Non-residential property
Purchase of fixed assets other than land and building
Mergers and acquisitions
Purchase of securities
Purchase of transport vehicles
Working capital
Other purposes
Gross loans, advances and financing
8,464,004
7,018,580
474,010
8,129,669
62,975,962
20,132,933
14,721,181
4,176,007
17,583,056
20,628,183
71,571,152
13,651,046
249,525,783
-
Page 14
8,441,137
6,440,933
170,550
8,023,104
57,390,465
17,866,777
14,251,738
5,410,650
15,139,766
19,742,044
65,766,696
15,913,682
234,557,542
-
The Group
30 September 2014
31 December 2013
RM'000
RM'000
Malaysia
Indonesia
Thailand
Singapore
United Kingdom
Hong Kong
China
Other countries
Gross loans, advances and financing
146,718,871
48,791,829
21,119,510
20,537,613
942,687
679,485
6,425,721
4,310,067
249,525,783
-
140,865,041
44,738,818
18,534,877
19,599,409
1,195,767
693,400
5,730,857
3,199,373
234,557,542
-
The Group
30 September 2014
31 December 2013
RM'000
RM'000
81,282,934
18,428,675
27,333,741
122,480,433
249,525,783
-
Personal use
Credit card
Purchase of consumer durables
Construction
Residential property (Housing)
Non-residential property
Purchase of fixed assets other than land and building
Purchase of securities
Purchase of transport vehicles
Working capital
Other purpose
Gross impaired loans, advances and financing
The Group
30 September 2014
31 December 2013
RM'000
RM'000
287,416
84,611
27,029
1,190,400
1,576,597
244,020
925,354
167,061
448,521
2,559,989
666,740
8,177,738
-
Malaysia
Indonesia
Thailand
Singapore
United Kingdom
China
Other countries
Gross impaired loans, advances and financing
252,938
94,765
289
1,180,289
1,540,293
258,780
438,895
186,441
314,470
2,373,246
752,863
7,393,269
-
The Group
30 September 2014
31 December 2013
RM'000
RM'000
4,147,529
2,513,742
1,288,719
46,089
2,650
89,542
89,467
8,177,738
-
Page 15
61,219,942
23,303,174
31,614,934
118,419,492
234,557,542
-
4,452,536
1,458,612
1,219,287
58,585
3,636
111,869
88,744
7,393,269
-
The Group
30 September 2014
31 December 2013
RM'000
RM'000
At 1 January
Classified as impaired during the period/year
Reclassified as not impaired during the period/year
Amount written back in respect of recoveries
Amount written off
Reclassification from unwinding income
Exchange fluctuation
At 30 September/31 December
Ratio of gross impaired loans to gross loans, advances and financing
7,393,269
3,734,227
(1,280,043)
(659,582)
(996,682)
(13,451)
8,177,738
7,927,817
3,451,780
(1,591,922)
(1,223,557)
(1,239,233)
50,870
17,514
7,393,269
3.28%
3.15%
Page 16
3,005,066
232,946
(312,694)
(2,735)
(64,480)
(7,897)
2,712
2,852,918
-
3,270,343
179,523
(440,126)
(959)
1,043
46,595
(51,353)
3,005,066
-
3,261,224
601,236
64,480
(665,290)
117
(24,720)
(19,120)
3,217,927
-
3,295,857
858,902
(1,043)
(735,157)
258
(31,518)
(126,075)
3,261,224
-
2.21%
2.28%
3,419,680
2,044,742
4,626,424
1,163,809
29,597
199,450
55,819
191,721
1,612,855
11,299,355
-
3,163,529
1,059,473
26,026
193,721
83,018
187,787
1,232,059
7,990,355
-
By type of customer
Government and statutory bodies
Business enterprises
Individuals
Others
61,363,469
31,871,837
111,021,879
4,458,552
54,807,526
263,523,263
-
60,469,052
30,209,802
110,777,319
6,419,989
55,128,140
263,004,302
-
10,643,035
98,501,084
105,495,206
48,883,938
263,523,263
-
9,759,358
109,298,049
92,638,301
51,308,594
263,004,302
-
94,666,519
16,973,678
1,643,172
1,530,457
666,605
115,480,431
-
97,933,973
15,849,808
1,850,649
1,234,394
328,484
117,197,308
-
The maturity structure of fixed deposits and negotiable instruments of deposit is as follows:
Due within six months
Six months to less than one year
One year to less than three years
Three years to less than five years
Five years and more
Page 17
25,543,536
610,843
521,011
2,076,367
2,126,489
30,878,246
-
16,745,660
223,121
755,900
795,996
2,207,168
20,727,845
-
28,162,057
1,668,356
40,323
336,184
671,326
30,878,246
-
9,099,477
6,788,703
2,404,567
1,414,464
1,020,634
20,727,845
-
The maturity structure of deposits and placements of banks and other financial institutions is as follows:
Due within six months
Six months to less than one year
One year to less than three years
Three years to less than five years
Five years and more
2,963,003
3,281
2,966,284
2,132,170
2,132,170
The Group has issued structured investments and bonds, and has designated them at fair value in accordance with MFRS139. The Group has
the ability to do this when designating these instruments at fair value reduces an accounting mismatch, is managed by the Group on the basis
of its fair value, or includes terms that have substantive derivative characteristics.
Included in the structured investments are individual, domestic other non-bank financial institution and domestic business entities customers
deposits with contractual amount due on maturity amounting to RM3,123,407,000 (2013: RM2,253,559,000), RM151,707,000 (2013:
RM151,118,000) and RM4,015,000 (2013: Nil) respectively.
The carrying amount of the Group at 30 September 2014 of financial liabilities designated at fair value were RM316,127,000 (2013:
RM272,507,000) lower than the contractual amount at maturity for the structured investments, and RM6,649 higher than the contractual
amount at maturity for the bonds. The fair value changes of the financial liabilities that are attributable to the changes in own credit risk are
not significant.
A16. OTHER LIABILITIES
The Group
30 September 2014
31 December 2013
RM'000
RM'000
Due to brokers and clients
Expenditure payable
Provision for legal claims
Sundry creditors
Insurance fund - life and takaful insurance business
Allowance for commitments and contingencies
Post employment benefit obligations
Credit card expenditure payable
Call deposit borrowing
Unit link contract liabilities
Others
3,126,088
1,662,310
91,989
2,125,951
64,812
6,138
314,046
186,065
685,421
540,364
1,675,041
10,478,225
-
Page 18
1,904,117
2,000,789
82,783
1,367,197
54,894
16,823
279,160
162,088
926,272
492,485
1,275,431
8,562,039
-
3,279,403
19,407
104,170
30,601
140,849
282,666
172,125
8,427
4,037,648
2,593
4,040,241
-
2,964,405
28,834
161,169
88,145
117,812
310,501
83,133
1,668
3,755,667
(3,031)
3,752,636
1,566,009
9,503,535
71,930
349,063
115,814
426,523
876,488
469,032
23,392
11,835,777
981
11,836,758
-
8,576,323
81,598
506,211
242,917
345,963
840,943
249,888
9,451
10,853,294
37,272
10,890,566
-
Page 19
The Group
3rd quarter ended
Nine months ended
30 September
30 September
30 September
30 September
2014
2013
2014
2013
RM'000
RM'000
RM'000
RM'000
123,190
71,351
39,727
179,751
3,718,561
1,405,367
1,277,614
4,105,372
149,254
15,565
56,640
51,004
145,566
61,696
51,251
190,711
449,879
160,805
148,270
452,031
25,201
29,085
12,648
62,718
88,500
21,876
34,804
82,193
224,715
81,326
80,375
242,673
59,882
22,119
17,664
57,026
1,718,993
4,984,748
1,869,190
5,423,479
-
169,685
131,235
4,854
155,693
10,489
18,984
74,596
7,171
14,351
587,058
(130,528)
456,530
158,433
99,295
10,992
149,185
11,813
16,201
80,595
14,288
6,265
547,067
(94,335)
452,732
27,145
6,303
11,835
1,850
41,864
16,377
20,330
11,031
1,047
1,654
36,149
581
6,930
21,196
1,830
3,740
63,811
1,403
15,563
48,327
500,898
396,655
16,237
462,381
39,766
59,706
251,294
29,953
42,055
1,798,945
(387,240)
1,411,705
449,461
336,746
23,009
431,625
78,956
45,303
227,051
47,841
48,387
1,688,379
(324,950)
1,363,429
(c) Net (loss)/gain arising from financial assets held for trading
- realised
- unrealised
(60,702)
68,052
(128,754)
(42,179)
(101,038)
58,859
33,103
10,035
23,068
(143,620)
(57,145)
(86,475)
102,939
183,055
(80,116)
189,232
55,098
134,134
467,083
209,197
257,886
423,058
506,613
(83,555)
(15,806)
(18,435)
2,629
74,511
(13,826)
88,337
1,663
(39,510)
41,173
169,000
(25,172)
194,172
7,744
(19,768)
13,867
(21,341)
18,995
9,185
85,489
205,556
2,629
44,666
15
Page 20
65,123
55,991
187,868
162,307
137,350
126,403
378,754
410,979
190,568
5,951
88,657
3,854
108,569
12,323
277,104
11,115
794
6,345
(17,456)
52,909
239,111
1,389
5,608
(11,283)
112,746
200,971
2,518
13,119
(48,560)
221,661
309,630
13,318
12,770
(24,068)
348,371
638,610
987,448
-
1,068,274
0
2,955,602
-
3,300,971
0
A20. OVERHEADS
The Group
3rd quarter ended
Nine months ended
30 September
30 September
30 September
30 September
2014
2013
2014
2013
RM'000
RM'000
RM'000
RM'000
Personnel costs
- Salaries, allowances and bonus
- Pension cost
- Overtime
- Staff incentives and other staff payments
- Medical expenses
- Others
Establishment costs
- Depreciation of property, plant and equipment
- Amortisation of prepaid lease payments
- Rental
- Repair and maintenance
- Outsourced services
- Security expenses
- Others
Marketing expenses
- Sales commission
- Advertisement
- Others
867,078
81,774
7,992
70,247
26,545
49,842
1,103,478
939,652
82,789
7,695
63,540
22,532
81,979
1,198,187
2,655,815
250,583
25,849
204,201
78,601
146,770
3,361,819
2,795,092
252,914
24,064
187,772
70,410
243,722
3,573,974
82,352
3,160
117,962
116,119
77,160
32,634
64,848
494,235
89,003
2,935
114,650
81,788
80,160
24,325
53,814
446,675
251,617
9,005
350,043
339,319
209,942
99,462
173,225
1,432,613
268,898
8,953
341,402
298,648
201,242
76,839
163,128
1,359,110
1,762
62,979
25,475
90,216
2,389
73,815
23,584
99,788
6,361
189,015
68,882
264,258
7,709
218,413
66,914
293,036
84,616
47,984
15,564
36,043
10,922
55,370
95,468
345,967
57,506
43,957
15,206
36,901
11,205
53,541
96,324
314,640
238,218
118,487
48,107
107,879
29,470
164,440
287,430
994,031
288,118
121,964
48,988
113,257
24,326
157,341
341,196
1,095,190
2,033,896
-
2,059,290
0
6,321,310
6,052,721
-
A21. ALLOWANCE MADE FOR IMPAIRMENT LOSSES ON LOANS, ADVANCES AND FINANCING
The Group
3rd quarter ended
Nine months ended
30 September
30 September
30 September
30 September
2014
2013
2014
2013
RM'000
RM'000
RM'000
RM'000
Allowance made for impaired loans, advances and financing:
Net allowance made during the financial period
- Individual impairment allowance
- Portfolio impairment allowance
Impaired loans, advances and financing:
- recovered
- written off
Page 21
176,714
235,974
44,393
248,550
232,946
601,236
32,583
613,509
(73,792)
5,331
344,227
(102,047)
9,469
200,365
(249,685)
18,356
602,853
(314,799)
20,823
352,116
Liabilities
RM'000
18,162,340
15,276,826
1,573,946
1,311,568
124,888,318
123,583,574
961,462
343,282
10,774,842
10,774,842
8,486,673
7,762,395
482,962
241,316
40,802,594
7,806,966
14,354,644
18,640,984
203,114,767
149,546
127,470
16,250
5,826
715,069
674,840
23,620
16,609
8,009
8,009
52,661
34,003
10,015
8,643
969,995
55,081
356,939
557,975
1,895,280
(163,570)
(77,914)
(33,821)
(51,835)
(753,226)
(749,665)
(3,561)
(7,397)
(7,397)
(62,750)
(45,321)
(10,000)
(7,429)
(738,596)
(152,851)
(298,597)
(287,148)
(1,725,539)
302,730,769
105,959,399
96,626,232
100,145,138
2,458,126
2,010,133
447,993
493,593
391,891
101,702
305,682,488
1,886,151
116,934
453,224
1,315,993
3,232
2,998
234
1,323
1,004
319
1,890,706
(1,434,714)
(127,726)
(399,523)
(907,465)
(557)
(491)
(66)
(4,568)
(3,593)
(975)
(1,439,839)
753,186
753,186
6,817,851
2,723,635
3,096,856
997,360
1,080,222
118,927
343,149
618,146
8,651,259
16,846
16,846
120,656
94,881
11,316
14,459
232,098
10,924
36,334
184,840
369,600
(5,545)
(5,545)
(1,958,045)
(1,089,859)
(852,120)
(16,066)
(220,956)
(186,969)
(18,348)
(15,639)
(2,184,546)
3,188,364
2,652,402
535,962
6,686
6,686
437,168
272,678
164,490
3,632,218
373,957
327,955
46,002
101
101
131,499
27,263
104,236
505,557
(367,970)
(325,191)
(42,779)
(149)
(149)
(42,224)
(27,263)
(14,961)
(410,343)
4,588,731
661,755
2,505,989
1,420,987
30,138
1,683
14,349
14,106
(23,852)
(697)
(12,261)
(10,894)
20,494,244
19,688
6,186,173
14,288,383
169,217
169,217
3,026,748
50,705
2,085,395
890,648
23,690,209
91,169
56,694
34,475
9,232
9,066
166
100,401
(268,418)
(37)
(35,550)
(232,831)
(4,271)
(4,271)
(40,365)
(2,720)
(19,046)
(18,599)
(313,054)
4,791,682
0
(6,097,173)
-
Principal amount
At 30 September 2014
Trading derivatives
Foreign exchange derivatives
Currency forward
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Currency swaps
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Currency spot
- Up to 1 year
Currency options
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Cross currency interest rate swaps
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
RM'000
549,359,672
(0)
Page 22
Liabilities
RM'000
15,535,868
12,621,248
831,402
2,083,218
74,588,373
73,927,701
391,499
269,173
7,270,147
7,270,147
3,605,527
2,629,363
520,621
455,543
33,767,451
3,956,556
11,912,611
17,898,284
134,767,366
238,332
201,431
18,567
18,334
891,838
858,684
13,487
19,667
6,317
6,317
97,774
34,023
12,429
51,322
1,098,021
100,069
213,787
784,165
2,332,282
(245,114)
(142,366)
(21,322)
(81,426)
(984,888)
(979,138)
(3,224)
(2,526)
(12,801)
(12,801)
(88,128)
(24,965)
(12,424)
(50,739)
(1,043,097)
(144,281)
(392,459)
(506,357)
(2,374,028)
263,828,147
71,813,536
111,752,273
80,262,338
4,646,388
3,734,506
911,882
598,180
359,691
238,489
269,072,715
2,063,089
96,482
600,116
1,366,491
12,418
10,901
1,517
1,701
108
1,593
2,077,208
(1,541,162)
(109,301)
(573,553)
(858,308)
(199)
(162)
(37)
(7,776)
(5,157)
(2,619)
(1,549,137)
43,473
43,473
7,332,980
2,670,549
1,983,267
2,679,164
812,041
115,944
61,862
634,235
8,188,494
103,070
59,227
15,312
28,531
17,113
8,935
4,591
3,587
120,183
(755)
(755)
(1,401,984)
(823,089)
(541,463)
(37,432)
(172,249)
(140,632)
(28,020)
(3,597)
(1,574,988)
1,961,518
1,850,789
103,658
7,071
238,781
73,965
77,304
87,512
2,200,299
106,882
79,803
20,960
6,119
158,512
1,086
109,769
47,657
265,394
(105,681)
(79,308)
(20,254)
(6,119)
(48,376)
(944)
(33,496)
(13,936)
(154,057)
7,656,021
3,144,871
2,180,546
2,330,604
38,265
1,493
15,731
21,041
(89,176)
(63,846)
(10,541)
(14,789)
19,335,113
21,526
3,942,730
15,370,857
190,863
190,863
2,224,201
326,652
1,380,496
517,053
21,750,177
182,117
41
77,097
104,979
5,004
414
4,590
187,121
(219,736)
(55)
(25,010)
(194,671)
(4,646)
(4,646)
(43,840)
(19,187)
(4,918)
(19,735)
(268,222)
443,635,072
-
5,020,453
-
(6,009,608)
-
Principal amount
At 31 December 2013
RM'000
Trading derivatives
Foreign exchange derivatives
Currency forward
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Currency swaps
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Currency spot
- Up to 1 year
Currency options
- Up to 1 year
- 1 year to 3 years
- More than 3 years
Cross currency interest rate swaps
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Interest rate derivative
Interest rate swaps
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Interest rate futures
- Up to 1 year
- More than 1 year to 3 years
Interest rate options
- Up to 1 year
- More than 1 year to 3 years
Equity related derivatives
Equity futures
- Up to 1 year
Equity options
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Equity swaps
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Commodity related derivatives
Commodity swaps
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Commodity options
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Credit related contract
Credit default swaps
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Hedging derivatives
Interest rate swaps
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Currency forward
- Up to 1 year
Cross currency interest rate swaps
- Up to 1 year
- More than 1 year to 3 years
- More than 3 years
Total derivative assets/(liabilities)
Page 23
Page 24
The Group
Credit-related
Direct credit substitutes
Certain transaction-related contingent items
Short-term self-liquidating trade-related contingencies
Obligations under underwriting agreement
Irrevocable commitments to extend credit
- maturity not exceeding one year
- maturity exceeding one year
Miscellaneous commitments and contingencies
Total credit-related commitments and contingencies
Treasury-related
Foreign exchange related contracts
- up to one year
- more than one year to five years
- more than five years
Page 25
31 December 2013
Principal
Amount
RM'000
5,829,871
5,651,822
5,387,155
239,876
5,558,842
5,673,446
4,027,282
163,500
47,385,899
21,645,236
5,127,688
91,267,547
52,400,282
8,617,352
2,413,685
78,854,389
165,424,523
34,673,796
6,212,412
206,310,731
100,922,530
29,082,502
7,177,397
137,182,429
108,381,112
194,620,704
22,861,718
325,863,534
75,929,258
184,333,773
27,820,397
288,083,428
3,595,748
4,024,949
1,030,561
8,651,258
2,847,171
3,732,189
1,609,135
8,188,495
661,755
3,260,798
979,378
4,901,931
3,144,871
3,812,772
1,022,778
7,980,421
2,931,766
700,452
3,632,218
1,924,754
275,545
2,200,299
549,359,672
443,635,072
640,627,219
522,489,461
Page 26
Bank CIMB
Niaga
CIMB
Bank PLC*
21.631%
21.631%
21.631%
N/A
13.884%
16.024%
N/A
N/A
17.190%
CIMB
Bank Group
RM'000
157,205,489
14,585,683
15,588,353
640,006
188,019,531
CIMB
Investment
Bank Group
RM'000
1,164,479
647,602
698,102
2,510,183
Bank
CIMB Niaga
RM'000
43,400,721
536,677
5,717,333
49,654,731
CIMB
Bank PLC
RM'000
746,649
746,649
CIMB
Thai Bank
RM'000
CIMB
Bank Group
RM'000
CIMB
Investment
Bank Group
RM'000
Bank
CIMB Niaga
RM'000
CIMB
Bank PLC
RM'000
1,000,000
1,816,587
2,816,587
1,065,319
1,130,736
2,196,055
4,681,930
21,417,269
243,750
26,342,949
100,000
495,528
595,528
(3,555,075)
(930,995)
(185,541)
(136,000)
(7,794)
(21,129)
(7,057)
(75,998)
(4,903,783)
(953,469)
(306,919)
(964)
(42,492)
(765,837)
(368,396)
(1,932,672)
14,793,289
(100,670)
(252,779)
2,298,215
(140,492)
(524,851)
(2,187,624)
17,325,811
(1,418)
(7,560)
(118)
542,976
160,000
800,000
1,289,440
2,249,440
206,000
206,000
(44,000)
2,205,440
16,998,729
206,000
2,504,215
2,113,000
2,298,038
19,623,849
6,050,000
29,740
231,094
6,310,834
680,000
52,729
732,729
1,017,599
64,837
1,082,436
6,050,000
29,740
390,264
522,663
6,992,667
732,729
1,082,436
3,236,944
3,195,436
CIMB Islamic
Bank
CIMB
Thai Bank
10.371%
11.300%
14.607%
10.229%
10.229%
15.469%
CIMB Islamic
Bank
RM'000
19,599,426
587,522
1,973,884
22,160,832
CIMB
Thai Bank
RM'000
17,326,038
2,148,832
1,182,640
20,657,510
CIMB Islamic
Bank
RM'000
4,681,930
17,849,875
22,531,805
CIMB Bank
Common equity tier 1 ratio
Tier 1 ratio
Total capital ratio
10.265% # ^
11.796% # ^
13.926% # ^
CIMB
Bank Group
9.215% # ^
10.437% # ^
13.857% # ^
(b) The breakdown of risk-weighted assets ("RWA") by each major risk category is as follows:
Credit risk
Market risk
Operational risk
Large exposure risk
CIMB Bank
RM'000
119,090,368
12,568,154
11,809,104
640,006
144,107,632
(c) Components of Common Equity Tier I, additional Tier I and Tier II capital are as follows:
CIMB Bank
RM'000
Common Equity Tier I capital
Ordinary shares
Other reserves
Qualifying non-controlling interests
Common Equity Tier I capital before regulatory adjustments
Less: Regulatory adjustments
Goodwill
Intangible assets
Deferred tax assets
Investment in capital instruments of unconsolidated
financial and insurance/takaful entities
(3,241,415)
3,069,419 N1
20,068,148
2,113,000
160,000
800,000
1,289,440
48,598
2,298,038
433,252
6,526,174
6,959,426
(65,506)
6,893,920
147,173
(21,349)
125,824
(1,079)
(1,677)
123,068
542,976
6,893,920
123,068
2,577
2,585
638,003
459,375
30,850
1,128,228
5,283
5,283
(561,967)
6,430,700
(10,145)
-
(65,506)
1,062,722
5,283
26,054,549
542,976
7,956,642
128,351
The capital base of CIMB Bank Group, CIMB Bank and CIMB Islamic Bank as at 30 September 2014 have excluded portfolio impairment allowance on impaired loans restricted from Tier II capital of RM253 million, RM229
* The amount presented here is the Solvency Ratio of CIMB Bank Plc, which is the nearest equivalent regulatory compliance ratio. This ratio is computed in accordance with Prakas B7-00-46, B7-04-206 and B7-07-135 issued by
the National Bank of Cambodia. This ratio is derived at CIMB Bank Plc's net worth divided by its risk-weighted assets.
^ On 24 April 2014, CIMBGH completed its third Dividend Reinvestment Scheme ("DRS") of which approximately RM702 million was re invested into new CIMBGH shares. Pursuant to the completion of the DRS, CIMBGH
reinvested cash dividend surplus of RM454 million into CIMB Bank via rights issue which was completed on 30 June 2014.
CIMB Group proposed to continue with DRS implementation for the first interim dividend in respect of the financial year endin g 2014. Pursuant to the completion of DRS, CIMB Group intend to reinvest the excess cash
dividend into the Bank which would increase the capital adequacy ratios of the Group and Bank above those stated ratios.
Page 27
CIMB Bank
CIMB Islamic
Bank
CIMB
Thai Bank
CIMB
Bank Group
CIMB
Investment
Bank Group
Bank
CIMB Niaga
CIMB
Bank PLC*
10.215% # ^
12.117% # ^
13.475% # ^
9.905%
10.201%
14.020%
9.907%
9.907%
14.082%
8.704% # ^
10.180% # ^
13.498% # ^
25.300%
25.300%
25.300%
N/A
12.993%
15.378%
N/A
N/A
20.045%
9.649% ^
11.552% ^
12.910% ^
9.905%
10.201%
14.020%
9.907%
9.907%
14.082%
8.274% ^
9.750% ^
13.068% ^
25.300%
25.300%
25.300%
N/A
12.993%
15.378%
N/A
N/A
20.045%
CIMB Islamic
Bank
RM'000
18,769,614
620,945
1,866,592
21,257,151
CIMB
Thai Bank
RM'000
17,250,730
1,363,788
1,168,022
19,782,540
CIMB
Bank Group
RM'000
145,845,320
13,826,815
14,615,092
423,320
174,710,547
CIMB
Investment
Bank Group
RM'000
1,208,453
58,618
758,001
2,025,072
Bank
CIMB Niaga
RM'000
41,585,173
410,116
5,028,579
47,023,868
CIMB
Bank PLC
RM'000
638,964
638,964
CIMB Islamic
Bank
RM'000
CIMB
Thai Bank
RM'000
CIMB
Bank Group
RM'000
CIMB
Investment
Bank Group
RM'000
Bank
CIMB Niaga
RM'000
CIMB
Bank PLC
RM'000
4,131,410
15,810,362
19,941,772
1,000,000
1,600,902
2,600,902
1,053,119
998,423
2,051,542
4,131,410
18,954,705
243,991
23,330,106
100,000
469,418
569,418
(3,555,075)
(852,787)
(212,431)
(136,000)
(11,080)
(25,566)
(91,698)
(4,890,179)
(874,518)
(263,926)
(964)
(48,914)
(151,434)
(1,584,536)
13,585,509
(92,725)
(230,089)
2,105,442
(282,726)
(1,811,720)
15,207,037
(6,921)
(271)
512,348
180,000
900,000
1,450,620
2,530,620
63,000
63,000
2,530,620
16,116,129
63,000
2,168,442
1,959,844
2,578,800
17,785,837
6,050,000
29,740
207,315
6,287,055
765,000
46,857
811,857
539,424
61,837
224,760
826,021
6,050,000
29,740
30,471
486,766
6,596,977
811,857
826,021
(b) The breakdown of risk-weighted assets ("RWA") by each major risk category is as follows:
Credit risk
Market risk
Operational risk
Large exposure risk
CIMB Bank
RM'000
109,355,392
12,107,705
11,115,336
423,320
133,001,753
(c) Components of Common Equity Tier I, additional Tier I and Tier II capital are as follows:
CIMB Bank
RM'000
Common Equity Tier I capital
Ordinary shares
Other reserves
Qualifying non-controlling interests
Common Equity Tier I capital before regulatory adjustments
Less: Regulatory adjustments
Goodwill
Intangible assets
Deferred tax assets
Investment in capital instruments of unconsolidated
financial and insurance/takaful entities
1,959,844
-
180,000
900,000
1,450,620
48,180
2,578,800
433,774
5,723,758
6,157,532
(47,931)
6,109,601
147,465
(21,440)
126,025
(1,613)
(710)
123,702
512,348
6,109,601
123,702
1,996
2,005
691,874
446,988
30,887
1,169,749
4,380
4,380
(800,439)
5,796,538
(8,926)
-
(47,931)
1,121,818
4,380
Tier II capital
Subordinated notes
Redeemable preference shares
Qualifying capital instruments held by third parties
Portfolio impairment allowance & Regulatory reserve
Others
Tier II capital before regulatory adjustments
Less: Regulatory adjustments
Investment in capital instruments of unconsolidated
financial and insurance/takaful entities
Total Tier II capital
(4,480,601)
1,806,454 N1
17,922,583
2,980,299
2,785,865
23,582,375
512,348
7,231,419
128,082
Less :
Proposed dividends
Total capital base (net of proposed dividend)
(752,000)
17,170,583
2,980,299
2,785,865
(752,000)
22,830,375
512,348
7,231,419
128,082
# Interim dividend for financial year ending 31 December 2013 was paid in September 2013.
The capital base of CIMB Bank Group, CIMB Bank and CIMB Islamic Bank as at 31 Decmber 2013 have excluded portfolio impairment allowance on impaired loans restricted from Tier II capital of RM245 million, RM220
million and RM25 million respectively.
* The amount presented here is the Solvency Ratio of CIMB Bank Plc, which is the nearest equivalent regulatory compliance ratio. This ratio is computed in accordance with Prakas B7-00-46, B7-04-206 and B7-07-135 issued by
the National Bank of Cambodia. This ratio is derived at CIMB Bank Plc's net worth divided by its risk-weighted assets.
^ CIMB Group Holdings Berhad (CIMBGH) recently completed its second DRS of which RM783 million was reinvested into new CIMBGH shares. Pursuant to the completion of DRS, CIMBGH reinvested cash dividend
surplus of RM400 million and additional cash of RM735 million into CIMB Bank via rights issue which was completed on 30 Decem ber 2013.
CIMBGH proposed to continue with DRS implementation for the second interim dividend in respect of the financial year ended 20 13. Pursuant to the completion of DRS, CIMBGH intend to reinvest the excess cash dividend
into the Bank which would increase the capital adequacy ratiso of the Group and the Bank above those stated above. The second interim dividend was approved by the Board and Bank Negara Malaysia on 11 February 2014 and
21 February 2014 respectively.
Page 28
Page 29
Page 30
Consumer
Banking
RM'000
Wholesale Banking
Corporate
Banking,
Investment
Treasury and
Banking
Markets
RM'000
RM'000
Investment
RM'000
Support
and others
RM'000
Total
RM'000
30 September 2014
Net interest income
- external income/(expense)
- inter-segment (expense)/income
4,478,118
(462,706)
71,533
(14,040)
1,519,901
309,480
353,780
184,838
(10,053)
(17,572)
6,413,279
-
4,015,412
669,406
1,327,406
-
57,493
8,363
738,644
-
1,829,381
336,765
695,166
-
538,618
63,431
126,423
21,030
(27,625)
5,947
67,963
-
6,413,279
1,083,912
2,955,602
21,030
6,012,224
(3,789,669)
804,500
(772,950)
2,861,312
(1,018,061)
749,502
(427,415)
46,285
(44,626)
10,473,823
(6,052,721)
(164,656)
(230)
(109,187)
(48,451)
(102)
(8,890)
(30,845)
(16)
(14,367)
(7,149)
(8,657)
(89,917)
(516)
(15,857)
(251,617)
(9,005)
(238,218)
322,087
1,659
5,551
1,112
804
(23,809)
251
(1,816)
(34)
Net income
Overheads
of which:
- Depreciation of property, plant and equipment
- Amortisation of prepaid lease payments
- Amortisation and impairment of intangible assets
Profit/(loss) before allowances
Allowance (made)/written back for impairment losses on loans, advances and
financing
Allowance (made)/written back for losses on other receivables
Allowance written back for commitments and contingencies
Recoveries written back from investment management and securities services
Allowance written back/(made) for other impairment losses
2,222,555
Segment results
Share of results of joint ventures
Share of results of associates
1,716,736
2,001
-
21,090
490
(1,016)
1,743,696
-
305,745
(5,042)
107,725
60
-
3,787,327
(2,551)
106,709
1,718,737
44.2
20,564
0.5
1,743,696
44.8
408,428
10.5
60
-
3,891,485
100.0
(942,249)
(510,073)
(6,664)
10,918
-
31,550
(106)
(10,374)
20
1,843,251
(98,476)
(1,312)
233
4,421,102
(602,853)
(19,054)
10,918
804
(23,590)
2,949,236
Page 31
Consumer
Banking
RM'000
Wholesale Banking
Corporate
Banking,
Investment
Treasury and
Banking
Markets
RM'000
RM'000
Support
and others
RM'000
Investment
RM'000
Total
RM'000
30 September 2013
Net interest income
- external income/(expense)
- inter-segment (expense)/income
3,932,679
(118,056)
63,893
(10,251)
1,666,400
38,878
241,850
104,595
996
(15,166)
5,905,818
-
3,814,623
662,838
1,411,501
-
53,642
17,368
715,637
-
1,705,278
390,176
812,199
-
346,445
67,851
365,072
525,113
(14,170)
4,482
(3,438)
-
5,905,818
1,142,715
3,300,971
525,113
5,888,962
(3,778,395)
786,647
(628,363)
2,907,653
(1,039,568)
1,304,481
(830,156)
(13,126)
(44,828)
10,874,617
(6,321,310)
(189,515)
(239)
(79,566)
(40,470)
(103)
(7,731)
(29,758)
(14)
(12,691)
(7,411)
(8,595)
(186,965)
(1,744)
(2)
(1,165)
(268,898)
(8,953)
(288,118)
2,110,567
(346,894)
(15,146)
-
158,284
(113)
(2,962)
18
1,868,085
(5,492)
(495)
1,334
4,127
474,325
1,415
(1,512)
(8,931)
(57,954)
(1,032)
1,895
707
4,553,307
(352,116)
(18,220)
1,334
(4,079)
Segment results
Share of results of joint ventures
Share of results of associates
1,748,527
4,710
-
155,227
432
763
1,867,559
-
465,297
43,230
261,813
(56,384)
-
4,180,226
48,372
262,576
1,753,237
39.0
156,422
3.5
1,867,559
41.6
770,340
17.2
(56,384)
(1.3)
4,491,174
100.0
(939,002)
Net income
Overheads
of which:
- Depreciation of property, plant and equipment
- Amortisation of prepaid lease payments
- Amortisation and impairment of intangible assets
3,552,172
Page 32
30 September 2014
Group
Segment assets
Investment in associates and joint ventures
Consumer
Banking
RM'000
Wholesale Banking
Corporate
Banking,
Investment
Treasury and
Banking
Markets
RM'000
RM'000
Investment
RM'000
Support
and others
RM'000
Total
RM'000
Unallocated assets
Total assets
171,641,832
160,308
171,802,140
171,802,140
13,976,701
9,624
13,986,325
13,986,325
160,958,708
160,958,708
160,958,708
25,079,676
852,323
25,931,999
25,931,999
1,456,668
4,406
1,461,074
1,461,074
373,113,585
1,026,661
374,140,246
17,438,505
391,578,751
Segment liabilities
Unallocated liabilities
Total liabilities
160,315,909
160,315,909
12,002,734
12,002,734
154,948,588
154,948,588
12,846,242
12,846,242
5,826,062
5,826,062
345,939,535
7,945,425
353,884,960
291,606
160,308
-
38,548
5,389
4,235
24,768
-
9,126
72,399
779,924
149,141
4,406
513,189
238,096
788,565
Wholesale Banking
Corporate
Banking,
Investment
Treasury and
Banking
Markets
RM'000
RM'000
Investment
RM'000
Support
and others
RM'000
Total
RM'000
31 December 2013
Group
Segment assets
Investment in associates and joint ventures
Consumer
Banking
RM'000
Unallocated assets
Total assets
158,218,637
158,306
158,376,943
158,376,943
8,385,303
14,211
8,399,514
8,399,514
164,604,277
164,604,277
164,604,277
23,730,533
835,795
24,566,328
24,566,328
2,257,392
5,170
2,262,562
2,262,562
357,196,142
1,013,482
358,209,624
12,703,173
370,912,797
Segment liabilities
Unallocated liabilities
Total liabilities
147,808,940
147,808,940
8,047,357
8,047,357
153,635,835
153,635,835
11,780,227
11,780,227
12,551,777
12,551,777
333,824,136
5,860,101
339,684,237
467,804
158,306
-
132,866
4,149
10,062
70,479
-
32,016
147,080
688,715
173,547
5,170
876,712
309,535
703,947
Page 33
Page 34
The following table represents the Group's financial assets and financial liabilities measured at fair value and classified by level with the
following fair value measurement hierarchy as at 30 September 2014 and 31 December 2013.
30 September 2014
Recurring fair value measurements
Financial assets
Financial assets held for trading
- Money market instruments
- Quoted securities
- Unquoted securities
Financial investments available-for-sale
- Money market instruments
- Quoted securities
- Unquoted securities
Derivative financial instruments
- Trading derivatives
- Hedging derivatives
Total
Financial liabilities
Derivative financial instruments
- Trading derivatives
- Hedging derivatives
Financial liabilities designated at fair value
Total
31 December 2013
Recurring fair value measurements
Financial assets
Financial assets held for trading
- Money market instruments
- Quoted securities
- Unquoted securities
Financial investments available-for-sale
- Money market instruments
- Quoted securities
- Unquoted securities
Derivative financial instruments
- Trading derivatives
- Hedging derivatives
Total
Financial liabilities
Derivative financial instruments
- Trading derivatives
- Hedging derivatives
Financial liabilities designated at fair value
Total
Quoted
market prices
(Level 1)
Carrying amount
RM'000
RM'000
Fair Value
Observable
Significant
inputs
unobservable
(Level 2)
inputs (Level 3)
RM'000
RM'000
Total
RM'000
13,973,706
6,465,606
5,495,837
3,030,698
-
13,973,706
3,434,908
5,418,820
77,017
13,973,706
6,465,606
5,495,837
3,896,290
6,201,077
20,234,344
255,684
-
3,896,290
5,945,393
18,999,446
1,234,898
3,896,290
6,201,077
20,234,344
4,691,281
100,401
61,058,542
20,105
3,306,487
4,596,079
100,401
56,365,043
75,097
1,387,012
4,691,281
100,401
61,058,542
5,784,119
313,054
2,966,284
9,063,457
60,978
60,978
4,620,035
313,054
2,966,284
7,899,373
1,103,106
1,103,106
5,784,119
313,054
2,966,284
9,063,457
Quoted
market prices
(Level 1)
Carrying amount
RM'000
RM'000
Fair Value
Significant
Observable
unobservable
inputs (Level 2)
inputs (Level 3)
RM'000
RM'000
Total
RM'000
11,086,647
4,118,179
8,198,454
2,155,444
-
11,086,647
1,962,735
8,125,406
73,048
11,086,647
4,118,179
8,198,454
4,018,822
6,648,417
19,666,819
456,056
-
4,018,822
6,192,361
18,387,885
1,278,934
4,018,822
6,648,417
19,666,819
4,833,332
187,121
58,757,791
12,418
2,623,918
4,771,239
187,121
54,732,216
49,675
1,401,657
4,833,332
187,121
58,757,791
5,741,386
268,222
2,132,170
8,141,778
2,314
2,314
4,795,921
268,222
2,132,170
7,196,313
943,151
943,151
5,741,386
268,222
2,132,170
8,141,778
Page 35
The following represents the movement in Level 3 instruments for the financial year ended 30 September 2014 and 31 December 2013 for the Group.
Financial Assets
Financial assets held Financial investments
for trading
available-for-sale
30 September 2014
Derivative
financial
instruments
Total
Financial Liabilities
Derivative
Total
financial
instruments
Unquoted securities
RM000
Unquoted securities
RM000
RM000
RM000
RM000
RM000
73,048
4,063
(94)
77,017
1,278,933
(16,984)
355
30,156
(52,977)
(1,148)
(878)
(2,559)
1,234,898
49,675
(40,948)
92,361
(25,991)
75,097
1,401,656
(53,869)
355
122,517
(78,968)
(1,148)
(878)
(2,653)
1,387,012
943,151
(192,149)
875,250
(523,146)
1,103,106
943,151
(192,149)
875,250
(523,146)
1,103,106
(16,984)
(40,948)
(53,869)
(192,149)
(192,149)
At 1 January
Total gains recognised in Statement of Income
Total losses recognised in Other Comprehensive Income
Purchases
Sales
Settlements
Transfers out of Level 3 to Level 1
Exchange fluctuation
At 30 September
Total gains/(losses) recognised in Statement of Income for financial period
ended 30 September 2014 under "net non-interest income"
Total gains recognised in Other Comprehensive Income for the financial period
ended 30 September 2014 under "revaluation reserves"
Change in unrealised gains/(losses) recognised in Statement of Income
relating to assets held on 30 September 2014 under "net non-interest income"
4,063
4,063
Page 36
355
-
(11,618)
355
(7,555)
(8,265)
(8,265)
The following represents the movement in Level 3 instruments for the financial year ended 30 September 2014 and 31 December 2013 for the Group (Continued)
Financial Assets
Financial assets held Financial investments
for trading
available-for-sale
31 December 2013
At 1 January
Total gains recognised in Statement of Income
Total losses recognised in Other Comprehensive Income
Purchases
Sales
Settlements
Transfers out of Level 3 to Level 1
Exchange fluctuation
At 31 December
Unquoted securities
RM000
66,313
2,387
4,348
73,048
Unquoted securities
RM000
1,175,188
(41,647)
74,075
77,566
(19,966)
(4,270)
(5,780)
23,768
1,278,934
2,612
(22,504)
71,530
2,387
Derivative
financial
instruments
RM000
251
49,424
49,675
251
251
Financial Liabilities
Total Derivative financial
instruments
RM000
1,241,501
(39,009)
74,075
126,990
(19,966)
(4,270)
(5,780)
28,116
1,401,657
RM000
195
943,051
(95)
943,151
(19,641)
71,530
2,637
Total
RM000
195
943,051
(95)
943,151
195
195
195
195
During the financial period, the transfer out of Level 3 of RM878,000 (2013: RM5,780,000) to Level 1 was due to the conversion of convertible notes to quoted shares in active markets.
The financial assets held-for-trading and financial investments available-for-sale categorised under Level 3 include unquoted securities. The fair value are drived based on net tangible assets.
Derivative financial instruments categorised under Level 3 includes credit derivatives and equity derivatives. The valuation techniques used are discounted cash flow, Stochastic Default, foreign currency
correlation and option pricing model.
(iii).
The following represents the Group's non-financial assets measured at fair value and classified by level with the following fair value measurement hierarchy as at 30 September 2014 and 31 December 2013.
Investment properties (Recurring)
The investment properties are valued annually at fair value based on market values determined by independent qualified valuers. The fair values are within level 2 of the fair value hierarchy. The fair values have
been derived using the sales comparison approach. Sales prices of comparable land and buildings in close proximity are adjusted for differences in key attributes such as property size.
Non-current assets held for sales (Non-recurring)
In accordance with MFRS5, the non-current assets held for sales were stated at the lower of carrying amount and fair value less cost to sell. As at 30 September 2014, the property plant and equipment and
investment properties held for sales that were stated at fair value less cost to sell was RM17,438,000 (2013: RM21,598,000). This is a non-recurring fair value which has been measured using observable inputs
under sales comparison approach performed by independent valuers. Sales prices of comparable land and building in close proximity are adjusted for differences in key attributes such as property size. Therefore,
it is within level 2 of the fair value hierarchy.
Page 37
A27.
Note
The Group
30 September 2014
31 December 2013
RM'000
RM'000
ASSETS
Cash and short-term funds
Reverse repurchase agreements
Deposits and placements with banks and other financial institutions
Financial assets held for trading
Islamic derivative financial instruments
Financial investments available-for-sale
Financial investments held-to-maturity
Financing, advances and other financing/loans
Deferred tax assets
Amount due from conventional operations
Statutory deposits with Bank Negara Malaysia
Property, plant and equipment
Other assets
Goodwill
Intangible assets
TOTAL ASSETS
A27d(i)
9,083,678
630,089
3,422,020
191,125
2,110,985
1,223,078
38,418,407
18,833
3,518,715
1,333,434
6,828
549,941
136,000
11,013
60,654,146
8,558,114
18,645
730,415
3,329,824
271,201
1,783,107
1,040,933
37,851,664
25,241
3,391,843
1,436,747
9,485
588,654
136,000
14,225
59,186,098
44,200,452
41,186,141
5,387,956
298,586
198,165
528,229
59,138
4,078,023
851,472
55,602,021
7,296,029
294,760
146,216
786,600
17,978
4,181,097
856,722
54,765,543
1,000,000
55,250
220,000
3,766,596
5,041,846
10,279
5,052,125
1,000,000
55,250
70,000
3,285,874
4,411,124
9,431
4,420,555
60,654,146
-
59,186,098
-
A27(e)
A27(f)
Page 38
A27b. UNAUDITED CONSOLIDATED STATEMENT OF INCOME FOR THE PERIOD ENDED 30 SEPTEMBER 2014
The Group
3rd quarter ended
Nine months ended
30 September
30 September 30 September
30 September
2014
2013
2014
2013
RM'000
RM'000
RM'000
RM'000
538,699
86,979
525,389
115,925
(48,976)
(30,601)
102
576,804
(15)
610,698
(270,420)
306,384
(261,318)
349,380
(751,718)
987,515
(807,464)
1,053,950
(133,942)
172,442
(149,675)
199,705
(404,158)
583,357
(441,980)
611,970
(1)
172,441
(3,470)
196,235
124
583,481
(3,517)
608,453
Taxation
Profit for the period
(41,391)
131,050
(45,406)
150,829
(131,956)
451,525
(146,550)
461,903
1,656,122
179,508
(96,645)
248
1,739,233
1,685,887
264,292
(88,501)
(264)
1,861,414
130,876
150,545
450,784
461,044
174
284
741
859
131,050
150,829
451,525
461,903
A27c. UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED
30 SEPTEMBER 2014
The Group
3rd quarter ended
Nine months ended
30 September
30 September 30 September
30 September
2014
2013
2014
2013
RM'000
RM'000
RM'000
RM'000
Profit for the period
Other comprehensive income:
Items that may be reclassified subsequently to profit or loss
Revaluation reserve-financial investments available-for-sale
- Net gain/(loss) from change in fair value
- Realised (gain)/loss transferred to income statement
on disposal and impairment
- Income tax effects
Exchange fluctuation reserve
Other comprehensive income for the period, net of tax
131,050
150,829
451,525
461,903
28,274
35,316
(7,916)
(26,811)
25,138
31,638
(30,597)
(38,968)
(1,284)
(5,758)
(1,439)
26,835
12,694
6,201
(4,433)
(12,349)
(5,026)
(1,474)
4,842
29,980
(3,893)
12,264
(5,708)
(36,305)
157,885
138,480
481,505
425,598
157,889
(4)
138,572
(92)
481,400
105
425,650
(52)
157,885
-
138,480
-
481,505
-
425,598
-
306,384
349,380
987,515
1,053,950
48,976
30,601
96,645
88,501
(102)
355,258
-
15
379,996
-
Page 39
(248)
1,083,912
-
264
1,142,715
-
At amortised cost
Cash line^
Term financing
House Financing
Syndicated Financing
Hire purchase receivables
Other term financing
Bills receivable
Trust receipts
Claims on customers under acceptance credits
Staff financing
Revolving credits
Credit card receivables
Share margin financing
Ar Rahnu
Other financing
Gross financing, advances and other financing/loans
Fair value changes arising from fair value hedge
Bai'
RM'000
513,261
9,052,089
323,857
688,177
17,238,080
4,286
85,406
372,769
2,214,156
16,031
30,508,112
Ijarah
RM'000
879,587
223,835
5,536,060
50,874
11,613
6,701,969
The Group
Musharakah
Qard
RM'000
RM'000
-
11,620
31,102
31,102
11,620
Others
RM'000
27,382
1,233,497
2
74,692
129,360
57,427
6,032
14,492
1,542,884
Total
RM'000
524,881
9,931,676
575,074
6,224,237
18,522,451
4,286
85,406
372,769
2
2,288,848
129,360
104,560
6,032
26,105
38,795,687
67,246
38,862,933
(67,135)
(377,391)
(444,526)
38,418,407
-
31 December 2013
At amortised cost
Cash line^
Term financing
House Financing
Syndicated Financing
Hire purchase receivables
Other term financing
Bills receivable
Trust receipts
Claims on customers under acceptance credits
Staff financing
Revolving credits
Credit card receivables
Share margin financing
Ar Rahnu
Other financing
Gross financing, advances and other financing/loans
Fair value changes arising from fair value hedge
Bai'
RM'000
476,126
9,071,124
276,330
785,834
16,151,926
2,885
25,934
370,754
2,242,158
16,441
29,419,512
Ijarah
RM'000
435,622
226,666
6,288,975
609,684
16,350
7,577,297
The Group
Musharakah
Qard
RM'000
RM'000
-
2,006
39,714
39,714
2,006
Others
RM'000
759,112
40,681
2
150,851
121,966
144,782
5,081
13,012
1,235,487
Total
RM'000
478,132
9,506,746
502,996
7,074,809
17,520,722
2,885
66,615
370,754
2
2,393,009
121,966
200,937
5,081
29,362
38,274,016
40,548
38,314,564
(48,093)
(414,807)
(462,900)
37,851,664
-
Page 40
6,350,000
67,246
6,417,246
6,350,000
40,548
6,390,548
The fair value loss on profit rate swaps in the hedge transaction as at 30 September 2014 were RM143 million (2013: RM67 million).
(b) Included in financing, advances and other financing/loans are exposures to Restricted Profit Sharing Investment Accounts ("RPSIA"), as
part of an arrangement between CIMB Islamic Bank Berhad and CIMB Bank Berhad. CIMB Bank Berhad is exposed to risks and rewards on
RPSIA financing and will account for all the portfolio and individual impairment for bad and doubtful financing arising thereon.
As at 30 September 2014, the gross exposures to RPSIA financing is RM1,884 million (2013: RM2,476 million) and the portfolio impairment
allowance relating to this RPSIA amounting to RM6.8 million (2013: RM11.3 million) is recognised in the Financial Statements of CIMB
Bank Berhad.
There was no individual impairment provided on this RPSIA financing.
c) Movement of Qard financing
The Group
30 September 2014
31 December 2013
RM'000
RM'000
2,006
4,594
11,424
1,571
(1,810)
(4,159)
11,620
2,006
At 1 January
New disbursement
Repayment
At 30 September/31 December
b) Sources and uses of Qard Financing
Sources of Qard fund:
Depositors' fund
Shareholders' fund
Uses of Qard fund:
Personal use
Business use
10,928
692
11,620
1,886
120
2,006
1,156
10,464
11,620
410
1,596
2,006
35,144,266
1,653,571
1,315,673
682,177
38,795,687
-
35,523,792
1,847,307
902,917
38,274,016
-
Page 41
402,844
75,745
478,589
-
310,151
65,277
375,428
375,428
612,880
(264,816)
(68,608)
(38,158)
(139,802)
1,665
478,589
443,673
493,410
(192,703)
(127,800)
(237,366)
(3,786)
375,428
1.23%
0.98%
(v) Movements in allowance for impaired financing, advances and other financing/loans:
The Group
30 September 2014
31 December 2013
RM'000
RM'000
Individual impairment allowance
At 1 January
Allowance made/(written back) during the period/year
Amount written off
Amount transferred to conventional operations
Exchange fluctuation
At 30 September/31 December
Page 42
48,093
32,005
(7,000)
(5,223)
(740)
67,135
(0)
127,290
(12,569)
(100,377)
33,749
48,093
414,807
101,249
(132,802)
(5,863)
377,391
-
380,259
205,711
(136,989)
2,715
(36,889)
414,807
-
2.08%
2.21%
Page 43
2,495,408
176,496
2,671,904
1,734,338
711,650
2,445,988
7,834,280
44,383
756,888
8,635,551
3,439,690
11,854
4,793,196
8,244,740
21,411,993
3,580,501
391,745
3,188,756
4,205,754
4,200,091
5,663
908,113
471,487
436,626
2,430,111
2,430,111
334,570
334,570
32,871,042
21,955
44,200,452
-
5,652,819
5,934,040
414,592
5,519,448
14,334,939
14,334,939
1,009,928
507,007
502,921
3,200,189
3,200,189
338,070
337,655
415
30,469,985
25,428
41,186,141
-
31,724,303
435,590
372,930
8,748
329,471
32,871,042
-
29,055,401
628,554
68,248
383,128
334,654
30,469,985
-
4,833,734
16,097,535
6,544,405
16,724,778
44,200,452
-
4,881,479
17,828,677
5,388,521
13,087,464
41,186,141
-
198,165
146,216
The Group has issued structured investments, and have designated them at fair value in accordance with MFRS139. The Group has the
ability to do this when designating these instruments at fair value reduces an accounting mismatch, is managed by the Group on the basis of
its fair value, or includes terms that have substantive derivative characteristics.
Included in the above are individual, domestic other non-bank financial institution and domestic business entities customers deposits with
contractual amount due on maturity amounting to RM53,374,000 (2013: RM3,562,000), RM151,707,000 (2013: RM151,118,000) and
RM4,015,000 (2013: Nil) respectively.
The carrying amount of the Group as at 30 September 2014 of financial liabilities designated at fair value were RM10,931,000 (2013:
RM8,464,000) lower than the contractual amount at maturity. The fair value changes of the financial liabilities that are attributable to the
changes in own credit risk are not significant.
Page 44
Part B - Explanatory Notes Pursuant to BNM/GP8 Guidelines on Financial Reporting for Licensed Institutions
B1.
Page 45
B1.
B2.
CORPORATE DEVELOPMENTS
Capital Management
On 13 January 2014, CIMB Group undertook a private placement of 500 million new ordinary shares at an issue price of RM7.10
per share. The issuance represented 6.08% of the enlarged issued and paid-up share capital of CIMB Group and raised a total
amount of RM3.55 billion. The new shares were listed and quoted on the Main Market of Bursa Securities on 23 January 2014.
On 31 March 2014, CIMB Islamic Bank completed its first issuance of a RM150 million Basel III compliant Perpetual Preference
Shares to CIMB Bank.
On 23 April 2014, CIMB Group issued and allotted 107,176,094 new ordinary shares of RM1 each in new CIMB Group shares
pursuant to the DRS arising from the Single Tier Second Interim Dividend announcement for FY13. The new shares were listed
and quoted on the Main Market of Bursa Securities on 24 April 2014.
Capital Management
The significant corporate developments in 2013 were:
On 29 October 2014, CIMB Group issued and allotted 87,228,960 new ordinary shares of RM1 each in new CIMB Group shares
pursuant to the DRS arising from the Single Tier First Interim Dividend announcement for FY14. The new shares were listed and
quoted on the Main Market of Bursa Securities on 30 October 2014.
Mergers and Acquisitions
Mergers and Acquisitions
On 10 July 2014, CIMB Group, RHB Capital and Malaysia Building Society (MBSB) announced the approval from BNM to
commence discussions with the aim of merging the businesses of both RHB and CIMB as well as creating an enlarged Islamic
Banking franchise with MBSB. On 8 October 2014, all three parties made a joint application to seek BNM approval for the
proposed merger, which encompasses: i) the proposed disposal by CIMB Group of all its assets, liabilities, business and
Others
undertakings to RHB Capital for new RHB Capital shares; ii) the proposed acquisition by CIMB Islamic Bank of the assets and
liabilities of RHB Islamic Bank for new ordinary shares in CIMB Islamic; and iii) the proposed merger of the assets and liabilities
of CIMB Islamic, RHB Islamic and MBSB to create a mega Islamic Bank, which includes the acquisition by CIMB Islamic of all
the assets and liabilities of MBSB in consideration for new redeemable convertible preference shares in CIMB Islamic.
On 23 July 2014, CIMB-Principal Asset Management Company Limited (CPAM Thailand) entered into a conditional S&P
agreement with Finasia Public Company Limited for the proposed acquisition of Finasia Asset Management Limited for THB225
million cash.
Page 46
B2.
On 2 January 2014, Dagong Global Credit Rating Co. affirmed CIMB Banks long term local and foreign currency issuer default
ratings of AA and AA- respectively. The outlook is stable.
On 12 January 2014, Moody's affirmed CIMB Niaga's bank financial strength rating (BFSR) of D, which maps to ba2
baseline credit assessment and ba1 adjusted baseline credit assessment. Moodys affirmed CIMB Niagas issuer rating and longterm bank deposits at Baa3/P3 and short-term bank deposits at P-3. The outlook is stable.
On 15 January 2014, Moody's assigned rating on CIMB Thais long-term local/foreign currency deposit and issuer ratings of
Baa2/P2. CIMB Thai attained BFSR of D which maps to a baseline credit assessment of ba2 and adjusted baseline credit
assessment of baa2. The outlook is stable.
On 23 January 2014, MARC affirmed CIMB Islamics long-term and short-term Financial Institution ratings at AAA and
MARC-1. MARC also affirmed CIMB Islamics RM2.0 billion Tier 2 Junior Sukuk Programme at AA+IS and set the outlook
for all ratings as stable.
On 25 March 2014, Fitch Ratings affirmed CIMB Thais long-term issuer default rating and national long-term rating at
BBBand AA-(tha) respectively, both with stable outlook. Short-term issuer default rating and national rating are affirmed at
F3 and F1+(tha) respectively. Fitch also assigned a bb- and 2 for CIMB Thais viability and support ratings respectively. The
outlook is stable.
On 25 March 2014, Fitch Ratings affirmed CIMB Thais THB10bn Unsecured Subordinated Short-term Debenture Programme at
F1+(tha), THB3bn 5.35% and THB3bn 4.80% Subordinated Lower Tier 2 at A+(tha), and THB2.5bn 5.25% Subordinated
Upper Tier 2 Notes at A(tha).
On 15 April 2014, Fitch Ratings affirmed CIMB Niagas long-term issuer default rating at BBB and national rating at
AAA(idn), both with stable outlook. Fitch also assigned F3 and F1+(idn) for Niagas short-term issuer default rating and
national rating as well as AAA(idn) for the senior unsecured bonds.
On 15 April 2014, Fitch Ratings affirmed CIMB Niagas IDR1.6 trillion 10.85% Subordinated Debt II and IDR1.38 trillion
11.3% Subordinated Debt at AA(idn), and IDR8 trillion Senior Unsecured Debt Programme and Senior Unsecured Bonds at
AAA(idn). Fitch also assigned bb and 2 for CIMB Niagas viability and support ratings respectively. The outlook is stable.
On 11 June 2014, Moodys affirmed CIMB IBs long-term local and foreign currency bank deposit and issuer ratings at A3 as
well as the short-term local and foreign currency bank deposit and issuer ratings at P-2. The outlook is stable.
On 3 July 2014, CIMB Group announced a leadership transition plan which will take effect on 1 September 2014. Tan Sri Md
Nor Yusof, Chairman of CIMB Group, will retire from the Board of Directors. Dato Sri Nazir Razak will take over as Chairman
of CIMB Group. On 29 August 2014, CIMB Group announced that Tengku Dato Zafrul Tengku Abdul Aziz will be Acting
Group CEO effective 1 September 2014.
On 22 July 2014, Moodys affirmed CIMBGHs long-term and short-term issuer ratings at A3 and P-2 respectively. The
outlook is stable.
On 6 August 2014, Moodys affirmed CIMB Banks BFSR at C-, local currency bank deposit ratings at A1/P-1 and foreign
currency bank deposit ratings at A3/P-2. On 20 November 2013, the outlook of CIMB Banks foreign currency deposit, issuer,
senior unsecured debt and senior unsecured MTN program ratings is revised to positive from stable. All other ratings carry a
stable outlook.
On 6 August 2014, Moodys affirmed CIMB Banks baseline credit assessment and adjusted baseline credit assessment at baa1.
On 15 August 2014, Moody's assigned a provisional rating to CIMB Bank's proposed USD5.0 billion Euro MTN Programme.
(P)A3 was assigned to foreign currency senior unsecured MTN while (P)Baa3 was assigned to foreign currency subordinated
MTN. Moodys also assigned A3 for CIMB Banks USD1.0 billion Multi-Currency Euro Medium Term Notes Programme and
USD350 million 5-year Senior Unsecured Notes with a positive outlook on the programme and notes.
On 11 August 2014, CIMB Strategic Assets Sdn Bhd, a wholly-owned subsidiary of CIMB Group, entered into a 50:50 joint
venture agreement with MC Emerging Capital Partners BV, a wholly owned subsidiary of Mitsubishi Corporation, to set up
CIMB-MC Capital Ltd (Cayman Islands), an investment holding company dedicated to establishing and managing a private
equity fund.
On 12 November 2014, Moodys affirmed CIMB Islamic Banks BFSR at D+, local currency rating at A1/P-1 and foreign
currency rating at A3/P-2. On 20 November 2013, the outlook of CIMB Islamic Banks foreign currency deposit and issuer
ratings is revised to positive from stable. All other ratings carry a stable outlook. Moodys also assigned ba1to CIMB Islamics
baseline credit assessment and baa1to the adjusted baseline credit assessment.
Page 47
B3.
Page 48
B4.
TAXATION
The Group
3rd quarter ended
Nine months ended
30 September
30 September
30 September
30 September
2014
2013
2014
2013
RM'000
RM'000
RM'000
RM'000
Major components of tax expense:
Current tax expense
Deferred tax expense
Under/(Over) accrual in prior years
248,258
27,479
583
276,320
-
318,518
(7,944)
(3,054)
307,520
-
799,240
141,286
1,723
942,249
-
995,516
(30,550)
(25,964)
939,002
-
Reconciliation
Profit before taxation
Tax at statutory income tax rate of 25% (2013: 25%)
Effect of different tax rates in other countries and change
in tax rates
Due to income not subject to income tax and
expenses not deductible for tax purposes
Under/(Over) accrual in prior years
1,179,263
1,386,257
3,891,485
4,491,174
294,815
346,565
972,871
1,122,794
2,243
3,670
7,788
1,706
(21,321)
583
276,320
-
(39,661)
(3,054)
307,520
-
(40,133)
1,723
942,249
-
(159,534)
(25,964)
939,002
-
12,138,895
568,810
12,707,705
12,070,506
182,063
12,252,569
674,169
2,507
627,592
1,290
Consolidation adjustments
99,252
1
13,483,634
94,771
101,803
1
12,983,255
(767,897)
13,578,405
12,215,358
The determination of realised and unrealised profits is based on the Guidance of Special Matter No. 1, Determination of Realised and
Unrealised Profits or Losses in the Context of Disclosure Pursuant to Bursa Malaysia Securities Berhad Listing Requirements, issued by the
Malaysian Institute of Accountants on 20 December 2010.
The marked-to-market gains and losses on derivative contracts and financial investments at fair value through profit or loss that remain
outstanding in the financial statements of the Group as at 30 September 2014 and 31 December 2013 are deemed unrealised and should be read
together as it reflects the nature of the transactions and financial positon of the Group. In addition, the unrealised retained profits of the Group
as disclosed above excludes the translation gains and losses on monetary items denominated in a currency other than the functional currency,
as these gains and losses are incurred in the ordinary course of business of the Group, and are hence deemed as realised.
Page 49
1,479,140
5,891,124
7,370,264
2,116,464
5,373,801
7,490,265
* Included in bonds and debntures for the current period are IDR denominated bonds equivalent to IDR5,398,000 million, IDR deminated notes
equivalent to IDR600,000 million, HKD denominated bonds equivalent to HKD3,588 million, USD denominated bonds equivalent to USD415
million, THB denominated debentures equivalents to THB20,485 million, SGD denominated bonds equivalents to SGD20 million and AUD
denominated bonds equivalents to AUD100 million.
Other borrowing **
Unsecured
One year or less (short term)
More than one year (medium/long term)
1,704,867
6,039,360
7,744,227
1,631,620
6,141,107
7,772,727
** RM300 million 3-month Commercial Papers and RM400 million 6-months Commercial Papers had matured and fully settled on 28 February
2014 and 28 May 2014 respectively.
Subordinated obligations***
Unsecured
More than one year (medium/long term)
12,583,398
12,583,398
12,066,700
12,066,700
*** Included in subordinated notes for current period are IDR denominated Subordinated Notes of IDR2,980,000 million and THB
denominated Subordinated Notes of THB6,544 million.
The Group
3rd quarter ended
Nine months ended
30 September
30 September
30 September
30 September
2014
2013
2014
2013
RM'000
RM'000
RM'000
RM'000
890,270
1,061,691
2,906,490
3,502,136
8,336,518
10.7
7,615,847
13.9
8,251,862
35.2
7,530,009
46.5
b) Diluted EPS
The Group has no dilution in its earnings per ordinary share in the current period and the preceding year corresponding period as there are no
dilutive potential ordinary shares.
Page 50