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(BVI) BOC Hong Kong (BVI) Limited 3
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228,805 232,570 276,518 328,298 366,176 86,025 110,276 141,116 168,128 186,767 65,560 85,531 109,820 130,502 145,522 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 0.24 0.31 0.40 0.45 0.50 1.01 1.09 1.14 1.17 1.19 14.36 16.49 18.86 18.27 18.10 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2.63 2.04 2.07 2.12 2.15 31.20 34.45 33.62 32.58 31.81 13.45 11.16 12.60 12.98 13.63 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 0.55 0.38 0.29 0.32 0.29 2.65 1.52 1.10 1.00 0.95 121.72 151.17 196.67 220.75 236.30 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 6
2012 2011 2010 2009 2008 256,964 228,064 193,962 158,881 162,936 1 109,212 100,234 82,556 73,689 65,869 2 366,176 328,298 276,518 232,570 228,805 (160,022) (140,815) (122,409) (107,307) (97,749) (19,387) (19,355) (12,993) (14,987) (45,031) 186,767 168,128 141,116 110,276 86,025 187,380 168,644 142,145 111,097 86,751 145,522 130,502 109,820 85,531 65,560 139,432 124,276 104,502 80,932 64,032 N.A. 43,268 40,756 35,537 32,999 12,680,615 11,829,789 10,459,703 8,751,794 6,955,594 6,864,696 6,342,814 5,660,621 4,910,358 3,296,146 (154,656) (139,676) (122,856) (112,950) (106,494) 3 2,210,524 2,000,759 2,055,324 1,816,679 1,646,208 11,819,073 11,072,652 9,782,441 8,205,392 6,460,894 9,173,995 8,817,961 7,733,537 6,716,823 5,226,204 824,677 723,914 644,858 515,617 468,762 279,147 279,147 279,147 253,839 253,839 0.50 0.45 0.40 0.31 0.24 4 0.175 0.155 0.146 0.14 0.13 5 2.95 2.59 2.31 2.03 1.85 % 6 1.19 1.17 1.14 1.09 1.01 % 7 18.10 18.27 18.86 16.49 14.36 % 8 2.15 2.12 2.07 2.04 2.63 % 9 29.83 30.53 29.86 31.68 28.79 %) 10 31.81 32.58 33.62 34.45 31.20 % 11 71.99 68.77 71.72 72.04 63.99 % 10.54 10.08 10.11 9.09 10.83 % 13.63 12.98 12.60 11.16 13.45 % 12 0.95 1.00 1.13 1.55 2.76 % 13 0.95 1.00 1.10 1.52 2.65 % 14 236.30 220.75 196.67 151.17 121.72 % 15 0.29 0.32 0.29 0.38 0.55 16 302,016 289,951 272,558 256,553 243,303 279,899 268,830 250,976 236,056 222,829 11,277 10,951 10,767 10,659 10,554 10,644 10,365 10,074 9,988 9,983 1 6.2855 6.3009 6.6227 6.8282 6.8346 1 8.3176 8.1625 8.8065 9.7971 9.6590 1 0.8108 0.8107 0.8509 0.8805 0.8819 7
1 2 3 4 5 6 2 7 9 2010 [2010]2 8 9 10 [2011]50 11 12 13 [2006]22 14 [2006]22 15 2 16 8
BANK OF CHINA LIMITED Bank of China 1 100818 (86) 10-6659 6688 (86) 10-6601 6871 http://www.boc.cn bocir@bank-of-china.com 1 1 (86) 10-6659 2638 (86) 10-6659 4568 bocir@bank-of-china.com A http://www.sse.com.cn http://www.hkexnews.hk 1 1 (86) 10-6659 2638 (86) 10-6659 4568 bocir@bank-of-china.com 1 9
202 211 22 110102100001342 10000134-2 A 601988 1983 10 31 www.saic.gov.cn 2004 8 26 2011 5 26 H 3988 A 113001 100000000001349 B0003H111000001 10
2012100 2012 2008 24500 Alberto TOGNI Nout WELLINK Alberto TOGNI Nout WELLINK 2013 11
30 1 2013 3 15 1 2013 3 172013 3 17 12
2012 201212.6811.82 8,246.77 7.19% 6.74% 13.92% 1,455.2211.51% 1,394.32 12.20% 0.50 0.05 2012 0.175 2013 5 2012 1.19% 0.022,569.6412.67% 2.15% 0.031,092.128.96% 29.83% 0.95% 0.05236.30% 15.550.29%0.03 0.77 31.81% 13.05% 2.5 42% 13
2013 2013 3 17 2013 3 26 14
2012 2012 2013 3 26 15
2012 20110.7 2012 7.8% 2.6% 14.3%20.6% 6.2% (M2)13.8% 0.2 8.2 0.7 15.76 2.933.17% 2012 7.971.5624.3% 2012133.617.95% 12,386 18.96% 4,929 650 1% 0.95% 278.1% 295.51% 12.7% 13.25% 16
2013 2007 2012 14 12 10 % 8 6 4 2 0-2 2007 2008 2009 2010 2011 2012 17
2007 2012 7 6 5 % 4 3 2 1 0 2007 2008 2009 2010 2011 2012 EcoWin 2007 2012 130 8.50 125 120 115 110 105 100 95 90 2007 2008 2009 2010 2011 2012 8.25 8.00 7.75 7.50 7.25 7.00 6.75 6.50 6.25 EcoWin 2007 2012 2.25 36.0 2.00 32.0 1.75 28.0 1.50 1.25 1.00 24.0 20.0 16.0 % 0.75 12.0 0.50 8.0 0.25 4.0 0.00 2007 2008 2009 2010 2011 2012 0.0 EcoWin 18
20121,455.22 1,394.32 11.51% 12.20% 2011 2 14.57% 14.79% (ROA)1.19%0.02 (ROE)18.10% 0.17 2012 2011 256,964 228,064 28,900 12.67% 109,212 100,234 8,978 8.96% 69,923 64,662 5,261 8.14% 366,176 328,298 37,878 11.54% (160,022) (140,815) (19,207) 13.64% (19,387) (19,355) (32) 0.17% 186,767 168,128 18,639 11.09% 187,380 168,644 18,736 11.11% (41,858) (38,142) (3,716) 9.74% 145,522 130,502 15,020 11.51% 139,432 124,276 15,156 12.20% 2012 2,569.64289.00 12.67% 2,121.16270.18 14.60%19.06 5.28 21.69% 3 2 3 19
2012 2011 6,707,626 5.54% 6,096,396 4.87% 611,230 67Bps 1 2,108,955 3.08% 1,924,479 2.95% 184,476 13Bps 2 2,104,028 1.28% 1,820,127 1.38% 283,901 (10)Bps 1,046,204 4.13% 902,570 3.80% 143,634 33Bps 11,966,813 4.23% 10,743,572 3.85% 1,223,241 38Bps 9,095,330 2.05% 8,180,446 1.71% 914,884 34Bps 2,004,498 2.74% 1,732,766 2.21% 271,732 53Bps 3 215,363 3.73% 184,981 3.73% 30,382 0Bps 11,315,191 2.21% 10,098,193 1.83% 1,216,998 38Bps 2.15% 2.12% 3Bps 4,928,955 6.50% 4,405,534 5.80% 523,421 70Bps 1,514,358 3.43% 1,378,485 3.11% 135,873 32Bps 1,624,723 1.57% 1,418,663 1.58% 206,060 (1)Bps 790,366 4.64% 740,399 3.96% 49,967 68Bps 8,858,402 4.90% 7,943,081 4.41% 915,321 49Bps 7,097,825 2.34% 6,526,238 1.96% 571,587 38Bps 1,101,976 4.51% 857,823 3.69% 244,153 82Bps 150,537 4.31% 136,395 4.12% 14,142 19Bps 8,350,338 2.66% 7,520,456 2.19% 829,882 47Bps 2.39% 2.33% 6Bps 82,030 3.42% 94,945 2.85% (12,915) 57Bps 22,348 1.72% 23,388 2.16% (1,040) (44)Bps 67,319 0.76% 25,383 1.34% 41,936 (58)Bps 171,697 2.16% 143,716 2.47% 27,981 (31)Bps 75,040 1.15% 61,162 0.82% 13,878 33Bps 72,102 1.28% 57,468 1.05% 14,634 23Bps 105 8.57% 108 7.41% (3) 116Bps 147,247 1.22% 118,738 0.94% 28,509 28Bps 1.11% 1.69% (58)Bps 1 2 3 20
2012 2011 21 371,394 296,913 74,481 29,767 44,714 64,973 56,728 8,245 5,442 2,803 26,996 25,177 1,819 3,918 (2,099) 43,165 34,284 8,881 5,458 3,423 506,528 413,102 93,426 44,585 48,841 186,667 139,905 46,762 15,645 31,117 54,858 38,227 16,631 6,005 10,626 8,039 6,906 1,133 1,133 249,564 185,038 64,526 22,783 41,743 256,964 228,064 28,900 21,802 7,098 320,237 255,447 64,790 30,358 34,432 51,988 42,832 9,156 4,226 4,930 25,540 22,435 3,105 3,256 (151) 36,664 29,284 7,380 1,979 5,401 434,429 349,998 84,431 39,819 44,612 166,177 127,616 38,561 11,203 27,358 49,652 31,666 17,986 9,009 8,977 6,484 5,618 866 583 283 222,313 164,900 57,413 20,795 36,618 212,116 185,098 27,018 19,024 7,994 2,808 2,705 103 (368) 471 384 505 (121) (22) (99) 512 337 175 562 (387) 3,704 3,547 157 172 (15) 866 501 365 114 251 923 604 319 154 165 9 8 1 1 1,798 1,113 685 268 417 1,906 2,434 (528) (96) (432)
20122.15%0.03 2.39%0.06 1.11%0.58 5 5 4 3 2 1 0 2.76 2.63 2.04 2007 2008 2009 2.12 2.15 2.07 2010 2011 2012 4 3 2 1 0 3.44 2.70 2.89 2.70 2007 2008 2009 2.21 2.27 2.33 1.44 1.21 1.69 2.39 1.11 2010 2011 2012 2012 2012 91.19% 2.22 52.23%18.11 37.67%31.28 19 32 7 22
2012 2011 3,271,931 6.77% 3,011,945 6.00% 259,986 77Bps 1,516,848 5.89% 1,316,184 5.24% 200,664 65Bps 140,176 6.65% 77,405 7.38% 62,771 (73)Bps 4,928,955 6.50% 4,405,534 5.80% 523,421 70Bps 3,347,769 6.39% 3,186,630 5.78% 161,139 61Bps 1 1,581,186 6.72% 1,218,904 5.85% 362,282 87Bps 1,918,084 0.83% 1,885,430 0.89% 32,654 (6)Bps 1,624,196 3.31% 1,539,553 2.66% 84,643 65Bps 1,036,587 0.52% 913,279 0.54% 123,308 (2)Bps 1,954,651 3.42% 1,824,746 2.74% 129,905 68Bps 564,307 4.28% 363,230 4.09% 201,077 19Bps 7,097,825 2.34% 6,526,238 1.96% 571,587 38Bps 82,030 3.42% 94,945 2.85% (12,915) 57Bps 24,439 0.24% 22,172 0.23% 2,267 1Bps 17,119 3.00% 7,253 2.10% 9,866 90Bps 11,705 0.06% 9,485 0.09% 2,220 (3)Bps 14,741 0.79% 15,631 0.73% (890) 6Bps 7,036 2.43% 6,621 2.66% 415 (23)Bps 75,040 1.15% 61,162 0.82% 13,878 33Bps 23
2012 1,092.1289.78 8.96% 29.83% 0.70 699.2352.61 8.14% 39.13% ETF31.07% 16.74% 13.42% 24
2012 2011 14,952 10,747 4,205 39.13% 14,171 12,139 2,032 16.74% 14,051 12,389 1,662 13.42% 11,099 13,268 (2,169) (16.35%) 6,808 8,545 (1,737) (20.33%) 5,690 6,507 (817) (12.56%) 2,371 1,809 562 31.07% 6,056 4,614 1,442 31.25% 75,198 70,018 5,180 7.40% (5,275) (5,356) 81 (1.51%) 69,923 64,662 5,261 8.14% 12,014 8,126 3,888 47.85% 10,013 6,887 3,126 45.39% 12,165 10,905 1,260 11.55% 7,899 10,480 (2,581) (24.63%) 6,011 7,695 (1,684) (21.88%) 5,604 6,466 (862) (13.33%) 2,080 1,496 584 39.04% 4,501 3,267 1,234 37.77% 60,287 55,322 4,965 8.97% (1,715) (1,690) (25) 1.48% 58,572 53,632 4,940 9.21% 392.8937.17 10.45% 24.21 34.81% 14.48 18.86% 3 4 25
20121,600.22192.07 13.64% 31.81% 0.775 6 2012 2011 66,994 60,793 6,201 10.20% 37,153 35,461 1,692 4.77% 12,289 10,651 1,638 15.38% 22,925 18,581 4,344 23.38% 8,721 7,578 1,143 15.08% 11,940 7,751 4,189 54.04% 160,022 140,815 19,207 13.64% 2012190.860.29%0.03 148.3842.43 42.4840.57 8 3 2012 3.018 26
2012 418.5837.16 9.74% 22.34% 9 2012 126,806.15 8,508.26 7.19% 118,190.73 7,464.21 6.74% 2012 2011 6,710,040 52.92% 6,203,138 52.44% 1 2,210,524 17.43% 2,000,759 16.91% 1,934,297 15.25% 1,919,651 16.23% 1,150,398 9.07% 1,147,497 9.70% 675,356 5.33% 558,744 4.72% 12,680,615 100.00% 11,829,789 100.00% 9,173,995 77.62% 8,817,961 79.64% 1,996,218 16.89% 1,718,237 15.51% 2 233,178 1.97% 196,626 1.78% 415,682 3.52% 339,828 3.07% 11,819,073 100.00% 11,072,652 100.00% 1 2 27
68,646.96 5,218.82 8.23% 52,469.44 4,714.50 9.87% 2,573.7986.343.47% 1,546.56 149.80 236.30% 15.55 2.62% 0.06105.18 5.35 22,105.24 2,097.65 10.48% 15,863.36 1,179.32 8.03% 993.06148.1717.54% 455.71 436.21 95.72% Alt-A Non-Agency11.03 5.99 (Freddie Mac) (Fannie Mae)0.46 28
2012 2011 71,590 3.24% 73,807 3.69% 686,400 31.05% 553,318 27.65% 1,183,080 53.52% 1,074,116 53.69% 269,454 12.19% 299,518 14.97% 2,210,524 100.00% 2,000,759 100.00% 2012 2011 786,167 35.55% 736,515 36.80% 20,810 0.94% 20,593 1.03% 350,077 15.84% 327,971 16.39% 101,144 4.58% 46,160 2.31% 244,223 11.05% 199,025 9.95% 160,000 7.24% 160,000 8.00% 1,662,421 75.20% 1,490,264 74.48% 253,232 11.45% 182,801 9.14% 56,721 2.57% 53,037 2.65% 162,388 7.35% 203,457 10.17% 37,264 1.69% 32,642 1.63% 509,605 23.06% 471,937 23.59% 33,932 1.53% 34,146 1.71% 4,566 0.21% 4,412 0.22% 2,210,524 100.00% 2,000,759 100.00% 29
2012 2011 1,586,336 71.77% 1,468,404 73.39% 356,597 16.13% 286,193 14.30% 133,992 6.06% 118,644 5.93% 133,599 6.04% 127,518 6.38% 2,210,524 100.00% 2,000,759 100.00% 2011 7,840 3.58% 2014-11-17 2005 6,800 3.42% 2015-08-02 2010 6,070 2017-01-26 +0.52% 2006 5,000 2016-12-12 +0.60% 2011 4,910 3.55% 2016-12-06 2010 4,750 2020-02-25 +0.59% 2009 4,660 2016-09-01 +0.54% 2011 4,400 3.83% 2018-11-24 2012 3,820 3.45% 2013-04-06 2005 3,600 4.67% 2020-03-29 30
91,739.95 3,560.34 4.04% 7,531.04 9.12%75,151.65 818.80 1.10% 4,807.48 6.99% 2012 2011 2,506,854 27.32% 2,451,185 27.80% 2,216,104 24.16% 2,021,651 22.93% 90,567 0.99% 221,479 2.51% 4,813,525 52.47% 4,694,315 53.24% 1,634,545 17.82% 1,423,524 16.14% 2,373,145 25.87% 2,171,950 24.63% 73,450 0.80% 339,608 3.86% 4,081,140 44.49% 3,935,082 44.63% 226,867 2.47% 138,880 1.57% 52,463 0.57% 49,684 0.56% 9,173,995 100.00% 8,817,961 100.00% 2,197,757 29.25% 2,199,660 29.59% 1,759,557 23.41% 1,619,585 21.79% 86,636 1.15% 217,610 2.93% 4,043,950 53.81% 4,036,855 54.31% 1,235,417 16.44% 1,086,552 14.62% 2,115,039 28.14% 1,924,228 25.89% 71,297 0.95% 339,191 4.56% 3,421,753 45.53% 3,349,971 45.07% 49,462 0.66% 46,459 0.62% 7,515,165 100.00% 7,433,285 100.00% 31
2012 2011 7,268,004 79.23% 7,282,091 82.59% 739,364 8.06% 584,531 6.63% 720,594 7.85% 608,878 6.90% 446,033 4.86% 342,461 3.88% 9,173,995 100.00% 8,817,961 100.00% 8,615.42 1,044.05 13.79% (1)20121,455.22 1,394.32 (2) 2011 432.68 15 40 32
10,722.83549.15 2,639.24495.67 3,493.13 3,988.80 1,825.46 557.74 250.92 121.32 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 224,622 201,021 23,024 21,018 9,318 6,025 256,964 228,064 79,124 69,263 27,909 29,608 2,884 2,939 (705) (1,576) 109,212 100,234 58,572 53,632 9,259 9,167 2,743 2,396 (651) (533) 69,923 64,662 (133,853) (118,751) (23,390) (20,103) (3,484) (2,807) 705 846 (160,022) (140,815) (17,396) (18,112) (1,460) (1,752) (531) 509 (19,387) (19,355) 152,497 133,421 26,696 29,287 8,187 6,666 (730) 187,380 168,644 10,196,577 9,612,716 2,048,370 1,868,870 1,087,203 904,756 (651,535) (556,553) 12,680,615 11,829,789 9,531,288 9,025,576 1,882,619 1,719,249 1,056,540 884,219 (651,374) (556,392) 11,819,073 11,072,652 4 101,965.77 5,838.61 6.07% 76.48% 20121,524.97 190.76 14.30%81.38% 20,483.70 1,795.00 9.60% 15.36% 2012 266.96 8.85% 14.25% 4 33
10,872.03 1,824.47 20.17% 8.16% 2012 81.87 22.82% 4.37% 64,475 64,773 298 3,524 780 (2,744) 4,412 4,566 154 920 1,396 1,471 75 524,092 654,719 130,627 5,945 7,640 1,695 (157) 23,281 24,041 760 42,757 40,188 (2,569) (35,473) (32,457) 3,016 68 (561,087) (164,017) 397,070 (31) (2,106) (14,061) (11,955) (10) 34
2006 6 2012 2011 104,472 55.75% 101,887 60.42% 39,344 21.00% 37,523 22.25% 37,143 19.82% 19,166 11.36% 1,987 1.06% 2,674 1.59% 4,434 2.37% 7,394 4.38% 187,380 100.00% 168,644 100.00% 35
2012 2011 3,755,626 3,842,173 (2.25%) 288,324 194,682 48.10% 769,575 657,460 17.05% 4,813,525 4,694,315 2.54% 3,234,301 3,165,161 2.18% 187,452 184,810 1.43% 659,387 585,111 12.69% 4,081,140 3,935,082 3.71% 3,452,004 3,244,573 6.39% 488,518 573,882 (14.87%) 1,039,877 906,850 14.67% 4,980,399 4,725,305 5.40% 1,617,123 1,390,343 16.31% 1,037 896 15.74% 266,137 226,270 17.62% 1,884,297 1,617,509 16.49% 36
20123,012.23315.30 11.69% 2012 2011 167,788 55.70% 164,597 61.03% 96,981 32.20% 86,445 32.05% 36,172 12.01% 18,682 6.93% 282 0.09% (31) (0.01%) 301,223 100.00% 269,693 100.00% 20121,677.88 31.91 1.94% 36,692.52 407.63 1.12%458.30 155.56 37
0.31 83 70% 83274.5 4056.250299.4 34,520.04 2,074.31 6.39%777.21 38
39 2.7814.66% 1.51 12.64%1.33 15.55% 438.94 3,068.25 33.38% 2.542% 457.44 54.55%64.82 58 615.98 4,594.56 0.72% 19.72% 1,400 142% 2012 (IFA) IFA 2010 2011 2012 0 7,500 15,000 22,500 30,000 24,267 19,723 27,823 2010 2011 2012 0 200 400 600 800 612 562 616 2010 2011 2012 0 300 600 900 1,200 1,500 1,071 937 1,321
179 1,600 2012 B (QFII)17 (CME) (NYSE EURONEXT) 2012 2012 40
5 8,225.20 10.44% 2012 6 1887.23% 2012 179.35 535.99 6,200 61.43206.98 52.09% 62.91% 2012 969.81105.36 12.19% 5 6 [2011]300 20117,447.45 41
1.72 1,838.16 12.00% 31,703.06 3,227.92 11.34%286.61 27.5010.61% 16,171.23 2,267.80 16.31% 5,45921621 9% 4 4,500 42
30 160 14 2012 2011 24,350.21 19,407.61 25.47% 3,622.03 3,086.29 17.36% 2,070.30 777.30 166.35% 2012 2011 13,195.67 8,381.62 57.44% 7,109.34 4,639.96 53.22% 24,331.19 17,287.40 40.75% 263.37 261.39 0.76% 43
2012 24.28 RQFII 24.09% 11.83% 2012 212011 2012 ETF QDII QFII RQFII 4 44
2012 2010 2012 2012 2012 2012 2012 2012 11 26 2012 (CMBS) 45
18422.8 159.1% 19.8 330.4% 0.03% 2012 46
47 2012 4,661.864,446.80 13.78% 13.57% 48.795.36% 14.53% 16.43% 2,661.2122.34%2,057.82 15.36% 404.6082% 0 1,250 2,500 3,750 5,000 2,175 1,784 4,097 2,661 2,058 4,662 0.00 6.25 12.50 18.75 25.00 15.15% 17.72% 21.66% 22.90% 18.84% 18.23% 36 2012 613 (QFB)116 9
80900 1.21.2953% 32% 336 2012 1.2717.16% 336.7233% 14 9.5 32 26.35% 48
2012 RQFII 5 49
684.96 87.4410.52 89 44 32 2012 G3 1 2012 24%QFII 2012 (5 ) 50
140.9949.31 4.23 14.4% IPO 95 247 10 20% 8.22 7.23 1.79 4.3% 1,001130% 51
3 1 70.85 38.67 16.320.78% 0.741.49% 2012 1196.1514 72.63 23.86 41.45 43.28% 28 3.22 648.31% 7 2012 52
771.57 450.8315.62 51.5344.47 2012 27203177 242 3356 91 182.25 12% 20 C919 A-BBB 10,521 1,800 53
ATM IC ATM3.91 2.09 1.18 27% 35% 25% 91 32.9% 2012 2011 180.17 108.45 66.13% 9,142.36 5,572.01 64.08% 4,182.50 1,705.41 145.25% 7,636.75 5,798.26 31.71% IC Windows Phone B2C B2Be 54
9 29 2012 55
2012 56
2012 57
2012 58
654.48 21.740.95% 0.05 1,546.56 149.80236.30% 15.55 627.56 18.301.13% 0.042,075.35 150.31 3.02% 0.01 2012 2011 6,591,713 96.03% 6,087,036 95.97% 207,535 3.02% 192,504 3.03% 28,643 0.42% 26,153 0.41% 24,276 0.35% 24,584 0.39% 12,529 0.18% 12,537 0.20% 6,864,696 100.00% 6,342,814 100.00% 65,448 0.95% 63,274 1.00% 5,300,574 95.36% 4,966,201 95.33% 195,352 3.51% 182,567 3.50% 27,210 0.49% 24,964 0.48% 23,254 0.42% 23,621 0.45% 12,292 0.22% 12,341 0.24% 5,558,682 100.00% 5,209,694 100.00% 62,756 1.13% 60,926 1.17% 59
% 2012 2011 2010 2.61 2.56 2.02 15.31 12.94 5.13 44.55 55.42 23.05 8.48 5.68 15.66 39 654.55 21.490.95% 0.05 628.44 16.851.13% 0.04 26.11 4.64 0.20% 0.01 2012 2011 2010 63,306 63,876 76,006 28,246 20,804 20,780 (26,097) (21,374) (32,910) 65,455 63,306 63,876 61,159 62,211 73,680 26,387 19,726 20,020 (24,702) (20,778) (31,489) 62,844 61,159 62,211 60
2012 2011 2010 5,246,944 52,301 4,775,494 50,541 4,149,806 54,583 1,617,752 13,154 1,567,320 12,765 1,510,815 9,293 6,864,696 65,455 6,342,814 63,306 5,660,621 63,876 5,069,127 52,226 4,634,915 50,056 4,127,410 54,359 489,555 10,618 574,779 11,103 631,175 7,852 5,558,682 62,844 5,209,694 61,159 4,758,585 62,211 4 3 2012190.861.86 0.29% 0.03178.12 11.15 0.33%0.05 % 2012 2011 2010 10 2.6 3.1 2.9 50 16.9 18.9 20.2 1 2 61
16 3 2012 A 25,542 0.37% B 21,862 0.32% C 20,000 0.29% D 17,900 0.26% E 15,987 0.23% F 14,341 0.21% G 13,911 0.20% H 12,763 0.19% I 12,365 0.18% J 12,308 0.18% 4 IT(IMA) IMA 62
25 7 2012 2011 25 (1,193) (78) (226) (2,184) 301 43 25 1,193 78 226 2,184 (301) (43) 7 2012 25 63
% 2012 2011 2010 25 49.8 47.0 43.2 25 65.2 56.2 52.2 3.2 2.9 2.1 27.7 24.3 14.6 8 1.6 0.82 1.00 8 2.6 2.25 1.08 1 2 + + 3 ++ 4 5 64
5) 2012 2011 13,178 12,777 (4,299,722) (3,886,641) 1 771,977 625,317 1 3 (224,823) (407,214) 3 1 378,843 372,733 15 1,339,994 1,418,664 5 2,882,095 2,621,501 861,542 757,137 65
2012 2012 IT 66
(Risk and Control Assessment, RACA) (Key Risk Indicator, KRI) (Loss Data Collection, LDC) 2012 1272.85 67
IIIII 56 (RAROC)(EVA) RAROC 2012 11 27 230 13.63% 10.54% 5.15% 7 68
2011 11 42012 11 1 (Financial Stability Board, FSB)(Global Systemically Important Financial Institutions, G-SIFIs) G-SIFIsFSB (Basel Committee on Banking Supervision, BCBS) G-SIFIs G-SIFIs G-SIFIs 69
201211,277 10,664 613 3730010,183 2012 5,105,055 33.61% 1,704 15.11% 54,279 17.97% 614,058 4.04% 941 8.34% 26,107 8.64% 3,035,879 19.98% 3,568 31.64% 92,989 30.79% 2,212,224 14.56% 2,767 24.54% 69,059 22.87% 1,090,088 7.17% 1,684 14.93% 37,465 12.40% 2,048,370 13.48% 509 4.52% 18,446 6.11% 1,087,203 7.16% 104 0.92% 3,671 1.22% (2,512,262) 12,680,615 100.00% 11,277 100.00% 302,016 100.00% 70
2012 302,016279,899 275,637 59,573 22,117 6,520 Above 50 6.53% 7.70% Up to 30 24.59% 27.49% 8.03% 6.93% Between 41 and 38.00% 50 37.93% 57.69% Between 26.81% 31 and 40 30.95% 27.35% 10.44% 9.18% 2.21% 10.96% 12.80% 41.23% 12.93% 0.25% 2012 71
58,8442,167,487 2012 4,898 2013 201312% 72
73
2012 50 201213.69 189.6 474 4 74
212012 2012 (www.sse.com.cn) (www.hkexnews.hk) (www.boc.cn) 75
A 2012 1 1 2012 1 2 3 4 279,147,333,579 100.00% 9,686 9,686 279,147,343,265 100.00% 1 195,525,057,184 70.04% 9,686 9,686 195,525,066,870 70.04% 2 3 83,622,276,395 29.96% 83,622,276,395 29.96% 4 279,147,333,579 100.00% 9,686 9,686 279,147,343,265 100.00% 1 2012 12 31 279,147,343,265 195,525,066,870 A 83,622,276,395 H 2 2012 12 31AH 3 A9,686 4 76
2010 6 2400A A2010 11 2 A 2.36101 A 17,705,975,59641,639,158,379.81 H2010 11 12 HH2.7410 17,602,025,126 17,659,653,976.86 AH2010 12 2 2012 12 316,720 A 180,534 AH 279,147,343,265279,147,343,265 A AH 29 29 77
2012 12 311,050,591 818,139 A232,452 H 1,033,657 808,146 A225,511 H 2012 1 189,052,193,085 67.72% A 2 81,644,559,295 29.25% H 3 The Bank of Tokyo Mitsubishi UFJ Ltd. 520,357,200 0.19% H 4 005L FH002 295,437,114 0.11% A 5 165,543,425 0.06% A 6 162,383,310 0.06% A 7 99,999,900 0.04% A 7 99,999,900 0.04% A 9 90,909,000 0.03% A 10 62,950,203 0.02% A 350,773,544 H H 2012 H 78
[2010]148[2010]723 2010 6 2400A [2010]17 400A2010 6 18 2012 16,303 1 2,198,342,000 5.50% 2 005L 1,677,220,000 4.19% FH002 3 1,140,732,000 2.85% 4 1,097,373,000 2.74% 5 005L 1,000,000,000 2.50% CT001 6 158 976,051,000 2.44% 7 946,937,000 2.37% 8 756,292,000 1.89% 9 739,625,000 1.85% 10 718,052,000 1.80% A 39,999,362,000 34,000 39,999,328,000 79
34,000 9,686 180,534 0.000066% 39,999,328,000 99.9983% 2010 6 4 3.88 2010 5 31 2009 2010 11 16 3.78 2010 11 11 A 2010 12 16 3.74 2010 12 13 H 2011 6 10 3.59 2011 6 3 2010 2012 6 13 3.44 2012 6 6 2011 3.44 2012 1 1 SD[2012]157AAA 2010 80
H 2012 12 31336 A H 1 188,553,352,005 A 96.43% 67.55% 8,357,384,041 H 9.99% 2.99% BlackRock, Inc. 2 6,221,288,229 H 7.44% 2.23% 1,096,121,446(S) 4 H 1.31% 0.39% JPMorgan Chase & Co. 3 598,318,179 H 0.72% 0.21% 132,612,149 (S) 4 H 0.16% 0.05% 581,310,115 H 0.70% 0.21% 3,017,861,927(P) 4 H 3.61% 1.08% 4,197,490,221 H 5.02% 1.50% 132,612,149(S) 4 H 0.16% 0.05% 3,017,861,927(P) 4 H 3.61% 1.08% 1 20112012 A 2 BlackRock, Inc.BlackRock Holdco 2 Inc. BlackRock Holdco 2 Inc. BlackRock Financial Management, Inc. BlackRock, Inc. BlackRock Holdco 2 Inc. BlackRock Financial Management, Inc. BlackRock, Inc.BlackRock Financial Management, Inc. 6,221,288,229 H 1,096,121,446 HBlackRock, Inc. 6,221,288,229 H 6,193,000 3 JPMorgan Chase & Co.JPMorgan Chase Bank, N.A. JPMorgan Chase & Co.JPMorgan Chase Bank, N.A. JPMorgan Chase & Co.JPMorgan Chase Bank, N.A. 4,197,490,221 H 132,612,149 H 4,197,490,221 H 3,017,861,927 H79,113,000 H132,612,149 H 99,612,149 H 4 S P 81
2012 336 2003 12 16 8,282.098,282.09 71093296-1 2011 8 202,095,021.08 14,878,418.10 187,216,602.98 201133,747,875.08 2011-3,769,377.45 8 2012 82
2012 1 47.63% 2 35.46% 3 40.21% 4 67.72% 5 57.21% 6 48.37% 7 73.63% 8 84.91% 9 31.23% 10 100.00% 11 78.57% 12 55.38% 13 43.35% 14 40.00% 15 100.00% 16 14.01% 17 100.00% 18 70.00% 19 14.54% 1 A H 2 3 2012 2007 10 9 (www.china-inv.cn) 2012 10% 83
1952 2004 8 2013 1955 2004 8 2013 1964 2012 2 2015 1955 2010 10 2013 1955 2010 10 2013 1963 2010 10 2013 1957 2011 7 2014 1972 2011 7 2014 1946 2004 8 2013 1962 2007 8 2013 1949 2007 11 2013 1946 2010 10 2013 1950 2011 3 2014 Nout WELLINK 1943 2012 10 2015 1956 2010 3 2013 84
1957 2004 8 2013 1958 2004 8 2013 1959 2010 8 2013 1956 2012 8 2015 1971 2012 8 2015 1949 2011 5 2014 1951 2011 5 2014 1956 2004 8 1960 2008 6 1960 2010 8 1956 2010 8 1960 2007 3 1953 2011 12 1968 2012 9 1958 2004 8 2013 3 1954 2007 8 2012 11 Alberto TOGNI 1938 2006 6 2012 5 1967 2008 5 2012 2 1959 2004 12 2012 8 1949 2008 5 2012 9 85
2012 71.48 29.83 101.31 68.58 28.68 97.26 67.75 26.71 94.46 75.00 75.00 75.00 78.00 75.00 55.00 55.00 37.93 37.93 42.58 42.58 35.00 35.00 Nout WELLINK 6.47 6.47 69.50 26.73 96.23 57.51 24.86 82.37 57.51 24.31 81.82 74.02 24.86 98.88 38.49 11.22 49.71 52.77 5.86 58.63 18.00 18.00 26.00 26.00 66.82 28.01 94.83 67.11 27.34 94.45 66.98 28.68 95.66 86
66.98 29.12 96.10 522.88 73.18 596.06 94.61 26.23 120.84 24.51 6.82 31.33 79.42 30.89 110.31 71.50 Alberto TOGNI 39.99 39.99 23.80 11.23 35.03 23.51 2.28 25.79 46.68 18.01 64.69 2012 1 20072009 87
2 2012 3 2012 4 20122,387 2012 1 12012 11 19 2012 11 19 2012 2004 8 2002 92004 8 1994 72002 91989 11994 7 2009 6 19771999 2004 82000 11 1980 112000 11 2002 6 2012 31978 88
2012 219892006 8 2003 112006 8 1999 42004 1 1987 2005 2010 1019822010 1982 2 2010 1019822010 1982 1 2007 7 2010 101999 102010 2010 1999 31999 10 1986 1999 1984 1986 89
2011 72004 112010 6 2005 42010 6 2001 82004 11 1999 92001 9 2004 12008 12 1986 19881990 2011 7 20012011 19912001 199519982001 2004 8 19961998 1990 1976 2003 2009 2010 2002 112005 12 90
2004 92006 3 2004 112010 62010 6 2007 8 1986 1993 2007 111987 (1999 8 2001 32001 42004 9 (19931995 20042009 2010 2015 2007 9 2013 8 2012 12 91
2010 102003 42010 1 AustralianSuper Pty. Ltd. 19972003 1992199720032010 1 20032010 1 200720082009 200120071970 19791982 19872010 200320052010 2011 335 20022007 2001200219992001 20072008 19741999 20082010 20012010 92
20112011 2010 2008BrookstoneVaporStream Merlin USA1972 1974 Nout WELLINK 2012 1030 142011 7 1 1999 1997 20022006 2006 2011 19972011 1982 19771982 19611968 1975 2008 19881998 Mauritshuis Westeinde 1980 2011Orange-Nassau 93
2010 32009 12 2006 9 2009 122000 112006 8 2000 62009 12 1998 42001 4 1990 101998 4 1995 2004 8 2005 4 2003 72004 8 2001 102003 72000 102001 10 1996 112000 9 1985 81996 10 1985 2008 2004 82001 112004 8 1984 82001 11 1984 2010 8 2008 72010 72007 62008 7 2008 22008 7 1993 62007 6 1984 81993 6 1984 94
2012 8 2008 7 2011 51998 102008 7 1983 71998 10 1983 2012 8 2005 72010 32003 32005 7 2000 102005 7 1993 72000 10 1993 2004 12 2011 5 2003 102010 5 1982 1999 2011 51999 1985 95
2004 8 2002 62004 8 1998 82002 7 1983 2008 6 1990 2000 62008 5 2011 12 1982 1999 2010 8 19882009 52010 7 2003 72009 5 2000 112003 7 2010 32008 96
2010 8 19802009 32010 7 2008 32009 32005 22008 8 2010 92011 11 2012 3 1999 2007 3 19831985 2011 1219822007 62011 12 1998 62007 2 1982 1999 2012 9 1994 IT 1990 1993 1994 97
2012 2 15 2012 5 31 Alberto TOGNI 2012 10 25 Nout WELLINK 2012 11 19 2013 3 17 2013 1 30 2013 2013 2 72013 2013 3 26 2012 2012 2 21 2012 8 19 2012 9 20 98
2012 1 2 3 4 99
2012 (Capital Weekly) 2012 4 1 100
2012 2011 2012 4 122011 2012 5 302011 2012 10 25 2013 2013 2 72013 101
2012 1 62012 2010 2012 5 302011 201120112011 2011 2012 2012 Nout WELLINK 2012 10 2520122011 2013 102
2012 1 62012 5 302012 10 25 2/3 2/3 3/3 2/2 3/3 3/3 3/3 3/3 3/3 3/3 2/3 Alberto TOGNI 0/2 2/3 3/3 2/3 2/3 Nout WELLINK 1/1 1 2 I(C) 2012 4 1 103
2012 2011 2012 2011 2011 2011 2012 7 2011 2012 104
2012 1435 6 2012 3 294 265 308 2310 2512 13 62011 2011 2011 2013 39 10 201212 2012 105
17/18 2/2 18/18 2/2 18/18 4/4 16/17 6/7 15/15 1/2 4/4 18/18 2/2 6/6 18/18 2/2 8/8 18/18 2/2 8/8 18/18 2/2 6/6 18/18 2/2 4/4 18/18 6/6 8/8 4/4 4/4 Alberto TOGNI 6/7 1/1 2/2 2/4 1/1 18/18 6/6 6/8 4/4 4/4 18/18 6/6 4/4 4/4 18/18 6/6 8/8 2/2 4/4 18/18 2/2 6/6 4/4 Nout WELLINK 4/4 0/0 1/1 1/1 99% 95% 100% 90% 100% 100% 1 2 2012 18 6 12 3 Alberto TOGNI 2012 5 30 4 2012 12 13 5 2012 8 22 106
8 Nout WELLINK 2012 2 2011 8 Nout WELLINK 20126 2011 2012 20132012 2013 2013 2013 2012 107
20122012 2013 2012 2012 2013 108
2013 3 26 7 Nout WELLINK 20128 109
5 20123 1 2011 2012 2012 2011 Nout WELLINK 6 110
20124 2012 2012 2011 2011 6 3.13 2012 2012 2012 2012 A6.5 111
[2003]56 Nout WELLINK 2012 12 31 8,466.27 8 23 2 2012 6 1 4 112
2012 25 143 2012 113
2011 2012 2012 2012 12 31 2.22 1,500 600 1020122006 2 2012 2013 2012 20112012 200 2012 114
2012 2012 2011 LACP (League of American Communications Professionals) 2550 Galaxy Awards 115
2012 30% 2012 2012 0.1752013 5 29 2012 2013 5 29 2012 5 3020110.155 20112012 7 432.682012 6 302012 2011 2010 2009 0.155 0.146 0.14 43,268 40,756 35,537 35% 39% 44% 1 2 116
2009 2011 3 24 35% 45%2010 2013 2012 10 25 10% 2013 2013 2 72013 2012 2011 H 2013 6 11 6 17 H H 2013 6 104 30 183 17 1712 1716 H 2013 6 7 4,457.9 117
37 20 2012 14A.3114A.33 118
2002 7 5(BVI) (BVI) 8.50 2002 7 25 4 10 2002 7 5 2012 2012 1 1 2002 7 5 8.50 2003 7 252012 7 4 1,446,000 1,446,000 1,446,000 18 2012 XV 352 119
33 (BVI) 2012 12 31517 36 AH 2012 11 27230 2012 A [2012]85 11 120
1 1 1 50% 125% 20% 12 10% H H 10% H [2008]897 H2008 10% 2013 3 26 121
2012 1 183 294 267 168 2310 25 62 2011 2011 20112012 2011 20 2012 8/8 8/8 8/8 8/8 4/4 4/4 4/4 8/8 7/8 98% 1 2 2012 862 3 2012 7 16 20121 2011 42011 2011 122
2012 7 123
22 124
2005 11 42 125
(1) (2) 126
1 MA MasterCard Inc. 55,679 55,679 171,909,704 6.17% 41,137,868 2 941 HK 117,676,917 285,024 1,739,500 127,287,391 4.57% 9,603,855 3 1038 HK 74,683,743 323,271 1,998,199 76,794,624 2.76% 2,353,673 4 939 HK 72,826,590 43,024,334 15,220,809 76,761,219 2.76% 13,432,937 5 2 HK 76,650,742 150,850 1,431,425 75,213,889 2.70% 2,792,431 6 XS0283693447 71,913,180 10,000 7,500 72,363,900 2.60% 2,314,631 7 XS0301648738 Sherson Ltd. 49,666,926 500 49,813,524 1.79% 1,177,971 8 XS0630257474 Wharf Finance(2014) Ltd. 49,350,269 20 30 49,256,100 1.77% 1,313,208 9 3983 HK 46,159,207 1,955 11,308,086 47,585,015 1.71% 1,426,183 10 857 HK 42,583,658 449,400 5,246,151 46,584,530 1.67% 2,350,698 1,532,238,412 1,991,043,211 71.50% 381,724,085 (313,196,402) 2,133,749,644 2,784,613,107 100.00% 146,431,138 1 2 3 4 2008 HK 316,010,545 412,000,000 8.30% 412,000,000 8.30% 831,783,504 14,030,083 183,727,280 549 HK 56,050,159 94,841,726 10.95% 94,841,726 10.95% 31,835,636 (11,073,265) 372,060,704 863,619,140 14,030,083 172,654,015 127
1 5% 2 97,225,363 20% 13% 225,860,038 37,721,636 989,317,890 14% 14% 1,163,747,625 107,355,843 13,459 1,660 11% 1,660 11% 13,459 58,360,089 10% 10% 94,897,383 8,020,963 1,144,916,801 1,484,518,505 45,742,599 107,355,843 1 2 5% 3 4 1,250,385,708 599,648,220 (422,191,752) 1,427,842,176 4,023,879,226 399,353,748 128
133378 129
130
.......................................................... 133..................................................... 134..................................................... 135.......................................................... 137................................................. 139..................................................... 141................................................... 143................................................... 144................... 180........................................................... 184 1................................................ 185 2..................................... 186 3................................................ 187 4.............................................. 188 5.................................................. 189 6.................................................. 190 7............................... 191 8.............................................. 195 9.................................................... 196 10............................... 198 11............................................ 200 12.............................................. 201 13.................................................. 202 14............ 203 15................................... 205 16............................................ 210 17.................................................. 216 18................................................ 221 19................................... 222 20.................................................. 223 21.................................................. 229 22.................................................. 231 23.............................................. 237 24.................................................. 241 131
25............................................ 241 26............................... 242 27.................................................. 242 28.................................................. 243 29.................................................. 245 30.............................................. 250 31.................................................. 250 32.............................................. 251 33.............................................. 253 34................................................ 255 35.................................................. 259 36................................... 265 37.............. 266 38............................. 268 39.............................................. 268 40............................................ 269 41....................................... 273 42.................................................. 274 43.................................................. 282 1...................................................... 288 2......................................... 288 3.................................................. 289 4.................................................. 330 5................................................ 352 6................................. 368 7.................................................. 375 8.................................................. 378 1................................................ 379 2.............................................. 380 3.................................................. 381 4.................................................. 383............................................. 384 132
2012 2011 * 1 506,528 413,102 1 (249,564) (185,038) 256,964 228,064 2 75,198 70,018 2 (5,275) (5,356) 69,923 64,662 3 8,451 7,858 2,288 3,442 4 28,550 24,272 366,176 328,298 5 (160,022) (140,815) 8 (19,387) (19,355) 186,767 168,128 19 613 516 187,380 168,644 9 (41,858) (38,142) 145,522 130,502 139,432 124,276 6,090 6,226 145,522 130,502 10 0.50 0.45 0.48 0.43 * 23 37.3 133
2012 2011 * 145,522 130,502 7,123 2,642 (1,361) (546) (1,520) (3,228) 435 555 4,677 (577) (57) 254 2 (55) 254 670 (6,493) 311 647 981 (5,846) 101 106 5,704 (6,063) 151,226 124,439 144,021 119,699 7,205 4,740 151,226 124,439 * 23 134
2012 2011 * 11 775,574 590,964 12 1,934,297 1,919,651 13 447,299 618,366 26 70,554 56,108 150,534 95,907 14 71,590 73,807 15 40,188 42,757 16 6,710,040 6,203,138 17 2,138,934 1,926,952 686,400 553,318 1,183,080 1,074,116 269,454 299,518 19 12,382 13,293 20 150,324 138,234 21 17,142 14,616 34 21,292 19,264 22 140,465 116,732 12,680,615 11,829,789 * 23 135
2012 2011 * 24 1,553,192 1,370,943 25 130,022 81,456 26 70,733 56,259 27 313,004 265,838 15 32,457 35,473 28 9,173,995 8,817,961 9,009,978 8,256,874 164,017 561,087 29 199,133 169,902 30 34,045 26,724 31 34,994 29,353 32 5,642 6,086 34 3,838 2,966 35 268,018 209,691 11,819,073 11,072,652 36.1 279,147 279,147 36.1 115,451 115,403 36.2 (15) (25) 37.1 65,362 52,165 37.2 131,909 81,243 242,899 210,599 38 7,276 3,642 (17,352) (18,260) 824,677 723,914 39 36,865 33,223 861,542 757,137 12,680,615 11,829,789 * 23 2013 3 26 136
2012 2011 11 745,593 576,155 12 1,859,362 1,785,152 13 435,483 577,233 26 3,314 2,691 145,174 91,642 14 29,654 31,887 15 15,939 20,969 16 5,990,570 5,546,805 17 1,731,688 1,587,371 307,010 271,364 1,163,416 1,025,620 261,262 290,387 18 87,274 83,789 19 55 48 20 81,223 74,529 21 1,474 1,280 34 22,084 19,648 22 93,233 79,638 11,242,120 10,478,837 137
2012 2011 24 1,516,858 1,273,561 25 118,262 73,847 26 3,494 2,842 27 313,116 304,309 15 16,382 17,387 28 8,111,074 7,806,900 7,953,141 7,249,861 157,933 557,039 29 178,438 148,271 31 32,900 26,527 32 5,642 6,086 34 186 124 35 172,364 133,769 10,468,716 9,793,623 36.1 279,147 279,147 36.1 113,671 113,670 37.1 63,562 50,487 37.2 126,663 76,515 191,079 166,950 38 1,099 604 (1,817) (2,159) 773,404 685,214 11,242,120 10,478,837 2013 3 26 138
2012 1 1 279,147 115,403 52,165 81,243 210,599 3,642 (18,260) (25) 33,223 757,137 139,432 6,090 145,522 47 3,634 908 1,115 5,704 47 139,432 3,634 908 7,205 151,226 37.1 13,187 (13,187) 37.2 50,667 (50,667) 37.3 (43,268) (3,571) (46,839) 2 2 36.2 10 10 1 10 (1) (10) 6 6 2012 279,147 115,451 65,362 131,909 242,899 7,276 (17,352) (15) 36,865 861,542 139
* 2011 1 1 279,147 114,988 40,227 71,195 148,355 4,015 (13,624) (138) 31,985 676,150 IAS 12 36 690 (33) 419 1,112 2011 1 1 279,147 115,024 40,227 71,195 149,045 4,015 (13,657) (138) 32,404 677,262 124,276 6,226 130,502 400 (1) (373) (4,603) (1,486) (6,063) 400 124,275 (373) (4,603) 4,740 124,439.37.1 11,922 (11,922).37.2 10,054 (10,054).37.3 (40,756) (3,978) (44,734).36.2 113 113 (21) 16 (6) 11 57 57 2011 12 31 279,147 115,403 52,165 81,243 210,599 3,642 (18,260) (25) 33,223 757,137 * 23 140
2012 2011 187,380 168,644 19,387 19,355 11,757 10,301 2,318 1,956 (395) (372) (441) (7) (613) (516) (62,941) (54,600) (287) (188) (2,288) (3,442) 7,359 6,554 (7,845) (356,193) 45,789 (88,624) (54,634) (9,689) 3,216 (597) (525,682) (683,599) (28,922) (14,303) 182,249 95,129 48,566 8,041 47,166 35,037 356,034 1,084,424 7,321 7,225 67,370 17,810 301,864 242,346 (37,940) (27,989) 263,924 214,357 141
2012 2011 2,019 3,949 2,737 471 416 380 59,754 54,882 1,211,882 1,336,845 (1,028) (1,200) (29,490) (32,455) (1,428,836) (1,307,098) (182,546) 55,774 43,522 36,841 (15,342) (793) (6,451) (4,444) (43,268) (40,756) (3,571) (3,978) 18 170 (25,092) (12,960) (1,371) (9,174) 54,915 247,997 1,017,368 769,371 41 1,072,283 1,017,368 142
1912 2 51949 1949 1994 2004 8 26 2006 B0003H111000001 100000000001349 2012 12 31 67.72% 2011 12 3167.60% 2013 3 26 143
1 1.1 2012 2012 1 1 12 7 201212 40 23 144
1 1.2 2012 2012 1 2012 7 1 19 2013 1 1 32 2014 1 1 7 2013 1 1 9 2015 1 1 9 7 10 2013 1 1 11 2013 1 1 12 2013 1 1 27 2013 1 1 28 2013 1 1 13 2013 1 1 1011 2013 1 1 12 1012 27 2014 1 1 1 145
1 1.2 2012 19 32 7 9 39 9 7 39 9 101112 2728 13 146
1 1.2 2012 101112 1011 1212 1012 27 10 20112012 5 2013 1 1 2012 2013 147
2 2.1 50% 148
2 2.1 149
2 2.2 20% 50% 150
2 2.3 3 3.1 3.2 151
3 3.2 (i) (ii) (iii) 152
4 4.1 (1) 153
4 4.1 (1) (2) 154
4 4.1 (3) (4) (5) 155
4 4.2 4.3 156
4 4.4 4.5 157
4 4.6 (i) (ii) (iii) (iv) (v) (vi) (vii) 158
4 4.6 (viii) 50%50%) 6 20%20% (130% (ix) (1) 159
4 4.6 (1) (2) 160
4 4.6 (2) 4.7 161
4 4.7 (1) (2) 162
4 4.7 (3) 4.8 163
4 4.9 4.10 5 164
6 7 165
7 7.1 15 50 3% 1.9% 6.5% 3 15 3% 6.4% 32.4% 4 6 3% 16.1% 24.3% 7.2 25 0% 15% 7.3 166
8 8.1 8.2 8.3 167
9 10 11 168
12 12.1 2004 1 1 12.2 2003 169
12 12.2 12.3 12.4 (1) 170
12 12.4 (2) 12.5 13 171
14 14.1 14.2 (1) (2) 172
14 14.3 15 16 17 173
18 19 20 174
21 21.1 21.2 175
21 21.2 22 23 1.1 201212 2011 12 31 2011 1 12011 176
23 2011 12 312011 1 12011 12 2011 19,516 (252) 19,264 116,757 (25) 116,732 11,693,793 11,693,793 11,830,066 (277) 11,829,789 4,486 (1,520) 2,966 11,069,686 11,069,686 11,074,172 (1,520) 11,072,652 115,359 44 115,403 209,816 783 210,599 (18,185) (75) (18,260) 416,172 416,172 723,162 752 723,914 32,732 491 33,223 755,894 1,243 757,137 11,830,066 (277) 11,829,789 177
23 2011 1 1 24,041 (136) 23,905 100,272 (26) 100,246 10,335,552 10,335,552 10,459,865 (162) 10,459,703 3,919 (1,274) 2,645 9,779,796 9,779,796 9,783,715 (1,274) 9,782,441 114,988 36 115,024 148,355 690 149,045 (13,624) (33) (13,657) 394,446 394,446 644,165 693 644,858 31,985 419 32,404 676,150 1,112 677,262 10,459,865 (162) 10,459,703 178
23 2011 168,644 168,644 (38,325) 183 (38,142) 130,319 183 130,502 124,182 94 124,276 6,137 89 6,226 130,319 183 130,502 0.44 0.01 0.45 0.43 0.43 122012 179
1 180
1 2 181
3 39 4 39 5 182
6 12.2, 32) 7 183
8 2012 2011 25% 25% 5% 5% 1% 7% 1% 7% 3% 3.5% 3% 3.5% 16.5% 16.5% 184
1 2012 2011 371,394 296,913 (1) 64,973 56,728 26,996 25,177 43,165 34,284 506,528 413,102 (186,667) (139,905) (54,858) (38,227) (8,039) (6,906) (249,564) (185,038) (2) 256,964 228,064 557 666 (1) (2) 5,043.182,247.27 2011 4,109.131,695.35 185
2 2012 2011 14,952 10,747 14,171 12,139 14,051 12,389 11,099 13,268 6,808 8,545 5,690 6,507 2,371 1,809 6,056 4,614 75,198 70,018 (5,275) (5,356) 69,923 64,662 186
3 2012 2011 (1) 6,174 9,618 1,273 (1,983) 361 (235) 643 458 (2) 8,451 7,858 (1) 2012 35.27 2011 90.51 97.38 2011 187.82 (2) 2012 11.19 2011 0.88 187
4 2012 2011 (1) 9,126 7,678 9,376 6,955 4,176 3,804 464 436 335 248 1,006 1,864 441 7 3,626 3,280 28,550 24,272 (1) 2012 2011 10,021 10,702 (4,403) (5,997) 5,618 4,705 4,237 3,521 (729) (548) 3,508 2,973 9,126 7,678 188
5 2012 2011 6 66,994 60,793 (1) 37,153 35,461 22,925 18,581 12,289 10,651 6,928 5,673 1,793 1,905 8,615 6,310 102 21 69 64 (78) (2,316) 3,232 3,672 160,022 140,815 (1) 20122.22 2011 2.15 0.50 2011 0.48 2012 53.03 102.86 2011 45.17 94.79 189
6 2012 2011 47,629 44,429 2,009 1,591 32 479 626 2,311 1,984 4,876 4,130 1,380 920 390 325 125 102 154 120 3,891 3,331 1,838 1,558 25 23 1,887 1,654 66,994 60,793 190
7 2012 (3) (2) 794 65 244 1,103 (3) (2) 715 73 225 1,013 (3) (2) 686 68 219 973 (3)(5) (2) 678 52 215 945 (1)(4) (1) (1) (1) (1) (1) 550 550 Alberto TOGNI (4) 400 400 (1) 379 379 426 426 350 350 Nout WELLINK (5) 65 65 (3) 695 46 221 962 (3) 575 59 190 824 (3) 575 57 186 818 (3) 740 54 195 989 (3)(4) 238 32 80 350 (3)(4) 235 8 15 258 (3)(5) 385 25 87 497 (3)(5) 528 32 26 586 180 180 260 260 2,610 6,844 571 1,903 11,928 191
7 2011 (3) (3) (2) 465 60 227 556 558 1,866 (3) (2) 419 63 210 501 502 1,695 (3) (2) 402 62 205 480 482 1,631 (3) (2) 168 28 82 196 197 671 (1) (1) (1) (1) (1) (1) (1) (1) 550 550 Alberto TOGNI 955 955 (1) 350 350 350 350 273 273 (3) 407 43 206 486 489 1,631 (3) 448 53 173 663 1,337 (3) 448 52 170 623 1,293 (3) 479 48 165 665 1,357 (3) 278 45 112 211 646 (3) 367 41 69 959 1,436 104 104 88 88 93 93 134 134 2,897 3,881 495 1,619 5,340 2,228 16,460 192
7 (1) 2012 2011 2012 2011 (2) 2012 2011 (3) 2012 2012 2011 2012 5 30 3 (4) 2012 11 19Alberto Togni 2012 5 31 2012 8 19 2012 2 21 (5) 2012 2 15 Nout Wellink 2012 10 25 2012 8 19 2002 7 2012 2011 193
7 2012 2011 2012 2011 15 16 46 42 3 5 64 63 2012 2011 9,500,001 10,000,000 1 10,000,001 10,500,000 1 1 10,500,001 11,000,000 2 11,000,001 11,500,000 1 12,000,001 12,500,000 1 14,500,001 15,000,000 1 16,000,001 16,500,000 1 21,500,001 22,000,000 1 2012 2011 194
8 2012 2011 4,248 191 14,838 19,081 19,086 19,272 (1) (374) (711) 531 647 157 (64) (39) 58 (2) 10 116 4 185 79 (2) 19,387 19,355 195
8 (1) 2012 2011 (296) (434) Alt-A (25) (108) Non-Agency (113) (221) 550 767 116 4 (2) 16 23 9 2012 2011 38,407 28,795 3,167 3,289 2,378 1,458 43,952 33,542 34 (2,094) 4,600 41,858 38,142 196
9 25% 7 2012 2011 187,380 168,644 46,845 42,161 (2,324) (2,208) 1,618 1,553 (1) (5,635) (4,969) (2) 2,410 1,752 (1,056) (147) 41,858 38,142 (1) (2) 197
10 2012 2011 139,432 124,276 279,127 279,123 0.50 0.45 2012 2011 279,147 279,147 29 (20) (24) 279,127 279,123 198
10 2012 2011 139,432 124,276 12 31 1,041 949 140,473 125,225 279,127 279,123 11,410 10,946 290,537 290,069 0.48 0.43 199
11 2012 2011 2012 2011 72,475 61,833 66,081 55,830 617,598 416,233 579,105 385,164 2,525 3,541 2,510 3,378 82,796 109,306 97,792 131,735 180 51 105 48 (1) 775,574 590,964 745,593 576,155 (1) 42.7 200
12 2012 2011 2012 2011 (1) 1,476,088 1,467,139 1,466,433 1,457,962 (2) 204,943 181,020 200,636 179,390 (3) 253,266 271,492 192,293 147,800 1,934,297 1,919,651 1,859,362 1,785,152 (1) 2012 12 3120.0% 2011 12 3121.0%) 5.0% 2011 12 315.0% (2) (3) 201
13 2012 2011 2012 2011 233,865 410,655 200,118 359,284 122,332 112,629 119,181 112,629 (1) 91,305 95,320 87,462 83,086 (1) 28,925 22,472 (2) 447,502 618,604 435,686 577,471 (203) (238) (203) (238) (3) 447,299 618,366 435,483 577,233 203 238 203 238 0.05% 0.04% 0.05% 0.04% (1) 42.7 (2) 2012 2011 2012 2011 38,924 90,925 37,834 88,596 54,698 72,773 54,698 72,297 4,426 4,426 98,048 163,698 96,958 160,893 (3) 2012 12 31622 202
14 2012 2011 2012 2011 1,362 6,355 566 5,931 10 10 6,060 2,135 4,445 1,803 148 204 40 2,761 2,054 2,162 1,436 17,282 15,127 148 153 274 417 4,403 4,723 32,448 31,168 7,183 9,210 265 409 488 729 33,201 32,306 7,183 9,210 203
14 2012 2011 2012 2011 71 69 71 69 1,893 1,822 1,893 1,822 196 196 4,758 327 2,845 332 384 463 384 393 21,025 26,690 11,431 14,276 3,666 3,936 1,085 1,705 32,325 33,307 17,905 18,265 515 3,115 (1) 4,566 4,412 4,566 4,412 983 667 38,389 41,501 22,471 22,677 (2)(3) 71,590 73,807 29,654 31,887 12,024 9,463 5,045 4,475 (4) 29,732 29,693 19,166 22,688 29,834 34,651 5,443 4,724 71,590 73,807 29,654 31,887 204
14 (1) 2012 2011 (2) 2012 2012 2011 2012 2011 1,432 6,424 636 6,000 1.40% 3.58% 0.72% 4.33% 2.70% 3.58% 2.71% 4.33% (3) 2012 12 31 12.30 2011 13.77 (4) 15 205
15 15.1 2012 2011 (1) 2,025,786 29,962 (20,715) 1,930,235 31,615 (21,687) 56,881 201 (235) 17,404 203 (50) 2,082,667 30,163 (20,950) 1,947,639 31,818 (21,737) 645,376 7,785 (9,001) 618,375 9,027 (11,390) 1,917 (3) 2,201 1 (18) 249 2 3,424 1 (1) 647,542 7,787 (9,004) 624,000 9,029 (11,409) 4,721 22 (106) 3,991 102 (98) 148,365 2,216 (2,397) 77,347 1,808 (2,229) 315 2,883,295 40,188 (32,457) 2,653,292 42,757 (35,473) 206
15 15.1 2012 2011 (1) 1,500,454 11,565 (9,888) 1,506,582 15,637 (9,501) 43,718 179 (209) 8,730 102 (25) 1,544,172 11,744 (10,097) 1,515,312 15,739 (9,526) 359,463 3,144 (4,772) 262,617 4,337 (6,360) 1,886 (3) 945 (14) 361,349 3,144 (4,775) 263,562 4,337 (6,374) 104 107 96,344 1,051 (1,510) 40,143 893 (1,487) 315 2,001,969 15,939 (16,382) 1,819,439 20,969 (17,387) (1) 207
15 15.2 2012 2011 1,121 26 38,003 2,707 (1,373) 28,040 2,389 (900) (1) 38,003 2,707 (1,373) 29,161 2,415 (900) 2,574 34 (44) 3,432 48 (81) 523 (11) 576 (16) (2) 3,097 34 (55) 4,008 48 (97) 41,100 2,741 (1,428) 33,169 2,463 (997) (1) 208
15 15.2 (1) 2012 2011 390 1,158 (359) (1,275) 31 (117) (2) 2012 0.31 20110.09,2012 2011 2012 2011 (3) 2012 0.15 20118.26,2012 2011 209
16 16.1 2012 2011 2012 2011 4,813,749 4,628,846 4,317,362 4,168,833 166,650 96,459 163,742 93,551 4,980,399 4,725,305 4,481,104 4,262,384 1,348,359 1,213,322 1,167,766 1,050,046 160,865 97,659 151,510 89,828 375,073 306,528 341,228 281,199 1,884,297 1,617,509 1,660,504 1,421,073 6,864,696 6,342,814 6,141,608 5,683,457 (38,537) (36,265) (37,813) (35,749) (116,119) (103,411) (113,225) (100,903) (154,656) (139,676) (151,038) (136,652) 6,710,040 6,203,138 5,990,570 5,546,805 16.2 3.5 210
16 16.3 (1) (2) 2012 6,799,241 15,106 50,349 65,455 6,864,696 0.95% (106,918) (9,201) (38,537) (47,738) (154,656) 6,692,323 5,905 11,812 17,717 6,710,040 2011 6,279,508 12,842 50,464 63,306 6,342,814 1.00% (95,052) (8,359) (36,265) (44,624) (139,676) 6,184,456 4,483 14,199 18,682 6,203,138 211
16 16.3 (1) (2) 2012 6,077,776 15,013 48,819 63,832 6,141,608 1.04% (104,058) (9,167) (37,813) (46,980) (151,038) 5,973,718 5,846 11,006 16,852 5,990,570 2011 5,621,032 12,790 49,635 62,425 5,683,457 1.10% (92,573) (8,330) (35,749) (44,079) (136,652) 5,528,459 4,460 13,886 18,346 5,546,805 212
16 16.3 (1) (2) 213
16 16.4 2012 2011 36,265 103,411 139,676 36,834 86,022 122,856 15,203 37,287 52,490 12,066 41,425 53,491 (10,955) (22,449) (33,404) (11,875) (22,344) (34,219) (2,409) (1,800) (4,209) (949) (860) (1,809) 600 66 666 589 21 610 (104) (259) (363) (98) (216) (314) (63) (137) (200) (302) (637) (939) 38,537 116,119 154,656 36,265 103,411 139,676 35,749 100,903 136,652 36,427 83,965 120,392 14,690 36,619 51,309 11,760 40,655 52,415 (10,484) (22,314) (32,798) (11,490) (22,280) (33,770) (2,388) (1,626) (4,014) (876) (744) (1,620) 409 40 449 314 1 315 (96) (259) (355) (97) (214) (311) (67) (138) (205) (289) (480) (769) 37,813 113,225 151,038 35,749 100,903 136,652 214
16 16.5 2012 2011 115,855 23,821 139,676 101,376 21,480 122,856 48,709 3,781 52,490 50,248 3,243 53,491 (33,341) (63) (33,404) (34,135) (84) (34,219) (3,192) (1,017) (4,209) (1,197) (612) (1,809) 604 62 666 577 33 610 (147) (216) (363) (140) (174) (314) (193) (7) (200) (874) (65) (939) 128,295 26,361 154,656 115,855 23,821 139,676 113,232 23,420 136,652 99,252 21,140 120,392 47,782 3,527 51,309 49,414 3,001 52,415 (32,785) (13) (32,798) (33,722) (48) (33,770) (3,171) (843) (4,014) (1,129) (491) (1,620) 425 24 449 315 315 (139) (216) (355) (137) (174) (311) (202) (3) (205) (761) (8) (769) 125,142 25,896 151,038 113,232 23,420 136,652 215
17 2012 2011 2012 2011 80,361 56,338 70,154 49,384 2,950 1,872 1,855 1,368 77,224 48,667 49,943 39,270 45,852 13,294 15,247 3,136 81,716 67,116 61,708 59,303 171,057 133,912 58,423 55,691 40,156 34,175 7,992 5,385 129,297 148,506 34,740 50,058 26,106 20,212 5,045 6,133 654,719 524,092 305,107 269,728 24,041 23,281 1,903 1,636 7,640 5,945 (1) 686,400 553,318 307,010 271,364 216
17 2012 2011 2012 2011 645,607 575,744 644,906 562,103 15,350 16,220 15,350 16,220 259,900 270,346 259,104 270,000 38,969 23,182 36,516 21,368 141,317 123,828 140,596 123,120 64,561 33,762 61,907 29,475 4,439 5,443 3,413 195 10,613 22,590 1,110 2,543 2,630 3,355 813 930 1,183,386 1,074,470 1,163,715 1,025,954 (306) (354) (299) (334) 1,183,080 1,074,116 1,163,416 1,025,620 (2) 160,000 160,000 160,000 160,000 (3) 42,500 42,500 42,500 42,500 (4) 22,291 22,291 20,979 14,480 17,480 14,480 (5) 32,492 41,483 31,564 41,483 11,638 12,845 9,077 9,124 1,319 5,410 115 591 584 591 584 269,519 299,593 261,327 290,462 (65) (75) (65) (75) 269,454 299,518 261,262 290,387 (6)(7) 2,138,934 1,926,952 1,731,688 1,587,371 217
17 2012 2011 2012 2011 21,871 14,294 5,301 5,560 303,350 262,669 211,872 179,857 329,498 247,129 87,934 84,311 4,242 5,138 279 340 27,160 23,748 1,903 1,636 2,520 2,206 1,346 1,204 1,076,690 1,010,958 1,068,938 998,511 103,870 60,952 93,132 25,905 269,454 299,518 261,262 290,387 2,138,934 1,926,952 1,731,688 1,587,371 28,633 21,638 6,647 6,764 1,380,319 1,273,967 1,280,810 1,178,368 729,982 631,347 444,231 402,239 2,138,934 1,926,952 1,731,688 1,587,371 218
17 2012 2011 2,520 2,634 2,206 2,288 1,076,690 1,072,920 1,010,958 1,012,649 2012 2011 1,346 1,411 1,204 1,254 1,068,938 1,064,836 998,511 1,000,082 (1) 2012 35.91 42.602011 91.3537.88 (2) 19992000 2000 7 11,600 2.25% 2010 2020 6 30 [2004]87 219
17 (3) 1998 8 18425 2028 8 18 7.20%2004 12 1 2.25% (4) 20122011 230.00 (5) 2012 12 31162.66 2011 12 31 332.17201278.76 2011 168.001.97 2011 2.31 220
17 (6) 2012 2012 2011 2012 2011 670,705 639,751 659,795 619,156 1.00% 4.89% 1.12% 4.92% 1.00% 4.75% 1.12% 4.92% (7) 2012 12 31655.20 2011 12 31 404.02 18 42.7 2012 2011 36,915 36,915 29,633 29,633 4,509 4,509 3,753 3,753 3,223 2,126 1,998 1,998 82 82 7,161 4,773 87,274 83,789 221
19 2012 2011 2012 2011 13,293 12,631 48 45 1,028 1,335 4 (2,296) (464) 613 516 7 6 (57) 254 (129) (192) (70) (787) (4) (3) 12,382 13,293 55 48 2012 2011 5,062 4,665 2,438 2,273 946 785 885 731 631 637 496 475 316 226 133 218 188 57 976 3,537 12,382 13,293 42.4 222
20 2012 78,989 47,415 19,840 46,584 192,828 781 8,290 11,194 6,481 26,746 21 (979) (979) 4,346 485 (6,932) 2,101 (973) (2,080) (328) (1,395) (4,776) (22) 10 (30) (185) (227) 82,142 54,120 23,744 53,586 213,592 (20,819) (28,317) (4,411) (53,547) (2,405) (7,566) (1,786) (11,757) 954 2,000 247 3,201 2 19 21 (22,268) (33,883) (5,931) (62,082) (775) (252) (20) (1,047) (3) (4) (150) (157) 13 4 1 18 (765) (252) (169) (1,186) 57,395 19,098 19,588 42,153 138,234 59,109 20,237 23,492 47,486 150,324 223
20 2011 74,058 40,752 12,806 43,707 171,323 1,331 8,337 14,069 6,791 30,528 21 706 (10) 696 4,561 542 (6,860) 1,757 (765) (1,977) (16) (3,604) (6,362) (902) (239) (149) (2,067) (3,357) 78,989 47,415 19,840 46,584 192,828 (19,378) (23,942) (3,371) (46,691) (2,275) (6,420) (1,606) (10,301) 666 1,875 406 2,947 168 170 160 498 (20,819) (28,317) (4,411) (53,547) (798) (257) (9) (1,064) (11) (11) 23 5 28 (775) (252) (20) (1,047) 53,882 16,810 12,549 40,327 123,568 57,395 19,098 19,588 42,153 138,234 224
20 2012 4.59 2011 4.77 2012 468.84 2011 412.87 2012 385.73 2011 319.98 30 225