中國銀行股份有限公司 H 股 股 份 代 號 3988 2011 年 年 度 報 告 2012 年 4 月 本 行 2011 年 年 度 報 告 之 印 刷 版 本 將 取 代 此 版 本
3 4 6 7 9 11 13 14 14 34 52 63 66 67 68 75 90 108 115 120 124 126 372 377 378 382 383 390 1
1912 2 19121949 1994 2004 8 2006 6 7A+H 2011 32 2
2012 3
2011 2010 2009 2008 2007 228,064 193,962 158,881 162,936 152,745 1 100,234 82,556 73,689 65,869 41,841 2 328,298 276,518 232,570 228,805 194,586 (140,815) (122,409) (107,307) (97,749) (85,631) (19,355) (12,993) (14,987) (45,031) (20,263) 168,128 141,116 110,276 86,025 88,692 168,644 142,145 111,097 86,751 89,955 130,319 109,691 85,349 65,573 62,017 124,182 104,418 80,819 64,039 56,229 N.A. 40,756 35,537 32,999 25,384 11,830,066 10,459,865 8,751,943 6,955,694 5,995,553 6,203,138 5,537,765 4,797,408 3,189,652 2,754,493 3 2,000,759 2,055,324 1,816,679 1,646,208 1,712,927 11,074,172 9,783,715 8,206,549 6,461,793 5,540,560 4 8,817,961 7,733,537 6,716,823 5,226,204 4,556,708 723,162 644,165 514,992 468,272 424,766 279,147 279,147 253,839 253,839 253,839 0.44 0.39 0.31 0.24 0.21 5 0.155 0.146 0.14 0.13 0.10 6 2.59 2.31 2.03 1.84 1.67 % 7 1.17 1.14 1.09 1.01 1.09 % 8 18.27 18.87 16.48 14.37 13.85 % 9 2.12 2.07 2.04 2.63 2.76 % 10 30.53 29.86 31.68 28.79 21.50 % 11 33.07 34.16 34.92 31.52 33.70 % 12 68.77 71.72 72.04 63.99 64.22 % 10.07 10.09 9.07 10.81 10.67 % 12.97 12.58 11.14 13.43 13.34 % 13 1.00 1.13 1.55 2.76 3.17 % 14 1.00 1.10 1.52 2.65 3.12 % 15 220.75 196.67 151.17 121.72 108.18 % 16 0.32 0.29 0.38 0.55 0.31 17 289,951 272,558 256,553 243,303 233,336 268,830 250,976 236,056 222,829 215,334 18 10,951 10,767 10,659 10,554 10,634 10,365 10,074 9,988 9,983 10,145 1 6.3009 6.6227 6.8282 6.8346 7.3046 1 8.1625 8.8065 9.7971 9.6590 10.6669 1 0.8107 0.8509 0.8805 0.8819 0.9364 4
194,586 228,805 232,570 276,518 328,298 88,692 86,025 110,276 141,116 168,128 62,017 65,573 85,349 109,691 130,319 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 0.21 0.24 0.31 0.39 0.44 1.09 1.01 1.09 1.14 1.17 13.85 14.37 16.48 18.87 18.27 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 2.76 2.63 2.04 2.07 2.12 33.70 31.52 34.92 34.16 33.07 13.34 13.43 11.14 12.58 12.97 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 0.31 0.55 0.38 0.29 0.32 3.12 2.65 1.52 1.10 1.00 108.18 121.72 151.17 196.67 220.75 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 5
Euromoney 2011 2011 2011 The Banker TOP10 21 Financial Times Global Finance Trade Finance The Asset EuroFinance Asiamoney The Asian Banker FORTUNE 2011500 132 WPP BrandZ50 50 2011 League of American Communications Professionals 2010 IDG TOP10 6
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 (86) 10-6659 2638 (86) 10-6659 4568 bocir@bank-of-china.com 1 7
202 211 22 1983 10 31 2004 8 26 2011 5 26 100000000001349 B0003H111000001 110102100001342 10000134-2 A 601988 H 3988 A 113001 A 8
2011 1,303.1918.81% 1,241.82 18.93% 0.44 0.05 1.17%0.03 2011 0.155 2012 5 2011 23500 2011 2012 2 15 9
2012 100 30 2012 3 29 10
2011 2011 11.8311.070.72 13.10% 13.19% 12.26% 1,303.19 18.81% 1,241.82 18.93% 1.17%0.031.00% 0.1 220.75% 24.08 2011 2,280.64 17.58%2.12% 0.0521.41%0.67 30.53%0.32% 1.09 33.07% 68.77%2.95 12.97% II & III 18.46% 17.1%1.3 72.45% 67.78% 13.82 11
2012 2012 2012 3 29 12
2011 2011 2010 2012 3 29 13
2011 3.8% 1.8% 1.6% 0.9%6.4% 2011 9.2% 5.4% 17.1%23.8% 22.5% 2011 73 (M2)13.6% 6.1 7.515.8% 4.1 21.7% 6.4123.4% 6.30095.11% 2011 113.2918.9% 4,279 57 1.0% 0.1 14
2012 1 2007-2011 % 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0-2.0 2007 2008 2009 2010 2011 15
2 2007-2011 7 6 5 % 4 3 2 1 0 2007 2008 2009 2010 2011 EcoWin 3 2007-2011 130 8.50 125 8.25 120 115 110 105 100 8.00 7.75 7.50 7.25 7.00 6.75 95 6.50 90 2007 2008 2009 2010 2011 6.25 USD/RMB EcoWin 4 2007-2011 2.25 36.0 2.00 32.0 1.75 28.0 1.50 24.0 1.25 1.00 0.75 20.0 16.0 12.0 % 0.50 8.0 0.25 4.0 0.00 2007 2008 2009 2010 2011 0.0 M2 EcoWin 16
2011 1,303.19 1,241.82 18.81% 18.93% (ROA)1.17%0.03 (ROE)18.27%0.602010 ROE2011 2011 2010 2009 228,064 193,962 158,881 100,234 82,556 73,689 64,662 54,483 46,013 328,298 276,518 232,570 (140,815) (122,409) (107,307) (19,355) (12,993) (14,987) 168,128 141,116 110,276 168,644 142,145 111,097 (38,325) (32,454) (25,748) 130,319 109,691 85,349 124,182 104,418 80,819 2011 2,280.64341.02 17.58% 1,850.98260.26 16.36%24.34 6.50 36.43% 1 1 17
2011 2010 6,096,396 4.87% 5,396,751 4.22% 699,645 65 Bps 1 1,924,479 2.95% 1,978,152 2.73% (53,673) 22 Bps 2 1,820,127 1.38% 1,308,553 1.42% 511,574 (4) Bps 902,570 3.80% 708,476 1.89% 194,094 191 Bps 10,743,572 3.85% 9,391,932 3.34% 1,351,640 51 Bps 8,180,446 1.71% 7,223,062 1.28% 957,384 43 Bps 1,732,766 2.21% 1,477,361 1.49% 255,405 72 Bps 3 184,981 3.73% 125,864 3.94% 59,117 (21) Bps 10,098,193 1.83% 8,826,287 1.35% 1,271,906 48 Bps 2.12% 2.07% 5 Bps 4,405,534 5.80% 3,895,037 5.07% 510,497 73 Bps 1,378,485 3.11% 1,435,273 2.78% (56,788) 33 Bps 1,418,663 1.58% 1,123,481 1.54% 295,182 4 Bps 740,399 3.96% 549,417 2.18% 190,982 178 Bps 7,943,081 4.41% 7,003,208 3.81% 939,873 60 Bps 6,526,238 1.96% 5,782,407 1.48% 743,831 48 Bps 857,823 3.69% 836,546 2.16% 21,277 153 Bps 136,395 4.12% 98,876 3.95% 37,519 17 Bps 7,520,456 2.19% 6,717,829 1.60% 802,627 59 Bps 2.33% 2.27% 6 Bps 94,945 2.85% 97,207 1.88% (2,262) 97 Bps 23,388 2.16% 24,296 2.56% (908) (40) Bps 25,383 1.34% 25,400 0.84% (17) 50 Bps 143,716 2.47% 146,903 1.81% (3,187) 66 Bps 61,162 0.82% 62,420 0.66% (1,258) 16 Bps 57,468 1.05% 57,761 0.79% (293) 26 Bps 108 7.41% 100 8.00% 8 (59) Bps 118,738 0.94% 120,281 0.73% (1,543) 21 Bps 1.69% 1.21% 48 Bps 1 2 3 18
2011 2010 19 296,913 227,529 69,384 29,525 39,859 56,728 53,987 2,741 (1,465) 4,206 25,177 18,604 6,573 7,264 (691) 34,284 13,413 20,871 3,668 17,203 413,102 313,533 99,569 38,992 60,577 139,905 92,525 47,380 12,255 35,125 38,227 22,086 16,141 3,806 12,335 6,906 4,960 1,946 2,329 (383) 185,038 119,571 65,467 18,390 47,077 228,064 193,962 34,102 20,602 13,500 255,447 197,630 57,817 25,882 31,935 42,832 39,902 2,930 (1,579) 4,509 22,435 17,249 5,186 4,546 640 29,284 11,967 17,317 4,163 13,154 349,998 266,748 83,250 33,012 50,238 127,616 85,681 41,935 11,009 30,926 31,666 18,093 13,573 460 13,113 5,618 3,902 1,716 1,482 234 164,900 107,676 57,224 12,951 44,273 185,098 159,072 26,026 20,061 5,965 2,705 1,828 877 (43) 920 505 621 (116) (23) (93) 337 214 123 123 3,547 2,663 884 (66) 950 501 413 88 (8) 96 604 458 146 (2) 148 8 8 1 (1) 1,113 879 234 (9) 243 2,434 1,784 650 (57) 707
2011 2.12%0.05 2.33%0.06 1.69%0.48 5 5 4 3 2 1 0 2.45 2.76 2.63 2006 2007 2008 2.04 2.12 2.07 2009 2010 2011 4 3 2 1 0 3.21 2.24 3.44 2.70 2.89 2.70 2006 2007 2008 2.21 2.27 2.33 1.69 1.44 1.21 2009 2010 2011 2011 86.78%0.70 45.41%1.14 58.04%4.58 2011 76.13% 0.28 20
2011 2010 3,011,945 6.00% 2,624,132 5.33% 387,813 67 Bps 1,316,184 5.24% 1,122,147 4.72% 194,037 52 Bps 77,405 7.38% 148,758 3.24% (71,353) 414 Bps 4,405,534 5.80% 3,895,037 5.07% 510,497 73 Bps 3,186,630 5.78% 2,693,845 5.22% 492,785 56 Bps 1 1,218,904 5.85% 1,201,192 4.74% 17,712 111 Bps 1,885,430 0.89% 1,731,069 0.71% 154,361 18 Bps 1,539,553 2.66% 1,413,398 2.08% 126,155 58 Bps 913,279 0.54% 800,863 0.37% 112,416 17 Bps 1,824,746 2.74% 1,774,017 2.24% 50,729 50 Bps 363,230 4.09% 63,060 2.00% 300,170 209 Bps 6,526,238 1.96% 5,782,407 1.48% 743,831 48 Bps 94,945 2.85% 97,207 1.88% (2,262) 97 Bps 22,172 0.23% 20,471 0.14% 1,701 9 Bps 7,253 2.10% 7,781 1.42% (528) 68 Bps 9,485 0.09% 9,819 0.09% (334) 15,631 0.73% 18,587 0.77% (2,956) (4) Bps 6,621 2.66% 5,762 2.12% 859 54 Bps 61,162 0.82% 62,420 0.66% (1,258) 16 Bps 21
2011 1,002.34176.78 21.41% 30.53% 0.67 646.62 101.79 18.68% 2011 2010 2009 13,268 10,178 8,364 12,389 9,144 7,481 12,139 11,021 11,211 10,747 9,574 6,091 8,545 8,114 7,264 12,930 11,183 9,823 70,018 59,214 50,234 (5,356) (4,731) (4,221) 64,662 54,483 46,013 10,480 7,686 6,039 10,905 7,962 6,508 6,887 4,920 5,049 8,126 7,452 4,503 7,695 7,562 6,938 11,229 9,778 8,309 55,322 45,360 37,346 (1,690) (1,332) (1,099) 53,632 44,028 36,247 22
355.7274.99 26.71% 2010 43.67 29.22 3 4 2011 2010 2009 60,793 53,420 45,474 35,461 30,816 26,911 12,257 10,319 8,691 18,581 14,414 11,645 7,578 8,937 8,195 6,145 4,503 6,391 140,815 122,409 107,307 2011 1,408.15184.06 15.04% (1) (2) (3) IT ATM (4) 33.07% 1.09 5 6 23
2011192.7237.08 0.32% 0.03190.8117.27 1.91 17.90 8 3 2011 0.838 3 2011 383.2558.71 18.09% 22.73% 9 24
2011 118,300.66 13,702.01 13.10% 110,741.72 12,904.57 13.19% 2011 2010 2009 6,203,138 5,537,765 4,797,408 1 2,000,759 2,055,324 1,816,679 1,919,651 1,573,922 1,111,351 1,147,497 800,620 618,199 559,021 492,234 408,306 11,830,066 10,459,865 8,751,943 8,817,961 7,733,537 6,716,823 1,718,237 1,580,030 1,152,424 2 196,626 151,386 88,055 341,348 318,762 249,247 11,074,172 9,783,715 8,206,549 1 2 25
63,428.14 6,821.93 12.05% 47,754.94 6,256.88 15.08% 2,487.45206.189.04% 1,396.76 168.20 220.75% 24.08 2.56% 0.11 20,007.59 545.65 14,684.04 276.65844.89 0.44 2011 2010 2009 73,807 3.69% 81,237 3.95% 61,897 3.40% 553,318 27.65% 656,738 31.95% 622,307 34.26% 1,074,116 53.69% 1,039,386 50.57% 744,693 40.99% 299,518 14.97% 277,963 13.53% 387,782 21.35% 2,000,759 100.00% 2,055,324 100.00% 1,816,679 100.00% 26
2011 2010 2009 736,515 903,533 743,721 20,593 16,462 15,021 327,971 258,151 240,884 46,160 44,422 42,239 199,025 149,322 109,480 160,000 160,000 160,000 1,490,264 1,531,890 1,311,345 182,801 152,895 138,030 53,037 56,929 71,643 203,457 242,309 231,753 32,642 37,446 43,335 471,937 489,579 484,761 34,146 32,683 19,325 4,412 1,172 1,248 2,000,759 2,055,324 1,816,679 286,193 118,644 127,518 1,468,404 313,584 138,921 106,750 1,496,069 2011 2010 Alt-A Non-Agency 15.6398.48 14.42 90.84 27
(Freddie Mac) (Fannie Mae) 0.100.63 0.533.36 811.21 778.53 95.97% 88,179.61 10,844.24 14.02% 72,820.91 9,640.15 15.26% 2,437.54300.2514.05% 28
2011 2010 2009 2,451,185 27.80% 2,244,807 29.03% 1,948,036 29.00% 2,021,651 22.93% 1,739,924 22.50% 1,491,691 22.21% 221,479 2.51% 78,775 1.02% 18,297 0.27% 4,694,315 53.24% 4,063,506 52.55% 3,458,024 51.48% 1,423,524 16.14% 1,343,434 17.37% 1,194,533 17.78% 2,171,950 24.63% 2,109,872 27.28% 1,986,292 29.57% 339,608 3.86% 115,607 1.49% 13,473 0.21% 3,935,082 44.63% 3,568,913 46.14% 3,194,298 47.56% 138,880 1.57% 45,217 0.58% 49,684 0.56% 55,901 0.73% 64,501 0.96% 8,817,961 100.00% 7,733,537 100.00% 6,716,823 100.00% 2,199,660 29.59% 2,011,048 30.55% 1,737,659 30.10% 1,619,585 21.79% 1,468,247 22.31% 1,337,614 23.17% 217,610 2.93% 76,032 1.16% 13,777 0.25% 4,036,855 54.31% 3,555,327 54.02% 3,089,050 53.52% 1,086,552 14.62% 964,549 14.65% 819,522 14.20% 1,924,228 25.89% 1,892,570 28.75% 1,786,878 30.96% 339,191 4.56% 115,607 1.76% 13,473 0.23% 3,349,971 45.07% 2,972,726 45.16% 2,619,873 45.39% 46,459 0.62% 54,002 0.82% 63,108 1.09% 7,433,285 100.00% 6,582,055 100.00% 5,772,031 100.00% 29
584,531 608,878 342,461 7,282,091 494,374 637,715 283,372 6,318,076 2011 2010 7,558.94 797.44 11.79% (1)20111,303.19 1,241.82 (2) 2010 407.562011 15 23,118.72 40 30
10,173.682,479.97 2,143.57946.40 3,068.15 2,121.75 557.742,507.17 129.60 760.29 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 201,021 171,161 21,018 18,577 6,025 4,224 228,064 193,962 69,263 50,971 29,608 29,616 2,939 2,603 (1,576) (634) 100,234 82,556 53,632 44,028 9,167 8,866 2,396 2,001 (533) (412) 64,662 54,483 (118,751) (96,596) (20,103) (24,031) (2,807) (2,416) 846 634 (140,815) (122,409) (18,112) (11,669) (1,752) (472) 509 (852) (19,355) (12,993) 133,421 113,867 29,287 24,719 6,666 3,559 (730) 168,644 142,145 9,612,881 8,520,945 1,868,982 1,780,334 904,756 547,954 (556,553) (389,368) 11,830,066 10,459,865 9,025,576 8,004,925 1,720,769 1,638,846 884,219 529,152 (556,392) (389,208) 11,074,172 9,783,715 2 96,128.81 10,919.36 12.81% 77.61% 20111,334.21 195.54 17.17%78.77% 2 31
18,689.82 886.48 4.98% 15.09% 2011292.87 18.48%17.29% 9,047.56 3,568.02 65.12% 7.30% 2011 66.66 87.30% 2006 32
(1) (2) (3) (4) Black-Scholes 6 33
2011 2010 101,887 60.42% 89,170 62.73% 37,523 22.25% 32,980 23.20% 19,166 11.36% 11,005 7.74% 2,674 1.59% 2,241 1.58% 7,394 4.38% 6,749 4.75% 168,644 100.00% 142,145 100.00% 2011 2010 3,842,173 3,374,811 13.85% 194,682 180,517 7.85% 657,460 508,178 29.38% 4,694,315 4,063,506 15.52% 3,165,161 2,775,551 14.04% 184,810 197,175 (6.27%) 585,111 596,187 (1.86%) 3,935,082 3,568,913 10.26% 3,244,573 2,910,239 11.49% 573,882 630,446 (8.97%) 906,850 703,698 28.87% 4,725,305 4,244,383 11.33% 1,390,343 1,217,171 14.23% 896 729 22.91% 226,270 198,338 14.08% 1,617,509 1,416,238 14.21% 34
20111,331.96195.86 17.24% 2011 2010 90,176 67.70% 81,628 71.85% 32,980 24.76% 28,311 24.92% 10,393 7.80% 3,619 3.19% (353) (0.26%) 52 0.04% 133,196 100.00% 113,610 100.00% 2011 901.7685.48 10.47% 4,673.62 13.85% 9.51% 36.40 26.84% 35
2,494 226 3,343.34 11.49% 910.79 2,000 7,000 e 2011 2011 2011CFO 2.4323.04% 1.34 24.84%1.15 27.14% 1.08 20.87% 36
3,837.71 23.43% 611.588.78% 295.98 48.29%44.05 46 25,000 18,750 12,500 6,250 0 14,309 19,723 24,267 2009 2010 2011 472.27 2,299.91 690.90 254.03115.22 800 600 400 200 0 524 562 612 2009 2010 2011 1,000 750 500 + 250 0 TSU(Trade Services Utility) 2009 2010 2011 807 937 1,071 B 67 630 8 QFII2,600 1,500 37
2011 3.86 91.07%3,885.97 62.34% 69.821.80% 1.00 244.4318.03% 2011 282.27329.01 8,500 121.0177.7375.70% 30.93% 38
2011 (ODI)(FDI) 7,800 30% 1.77 5,5004,200 100 600 1826526% 4.5 39
2011 329.8046.69 16.49% 1.53 17.10% 31,651.61 3,896.10 14.04%293.31 1,731.72 14.23% 3,69916619 19 80%60% 3,000 21 40
IC IC 7 24 3,086 42%1.94 30.18% 1,448 4,64043%17,287 56%26125% 2011 33.31% 125% 41
(R-QFII) ETF 3 2011 18 8.8 4.6 14 2011 42
43 26.15% 26.12% 32.36% 46.31 13.3140.34% 17.30%1.93 0 1,250 2,500 3,750 5,000 1,725 1,348 3,239 2,175 1,784 4,086 2010 2011 0.00 6.25 12.50 18.75 25.00 14.45% 15.77% 20.50% 2010 2011 21.76% 17.72% 15.15% 500 86 2011 2011 12 32 5
A- A+2011203.5917.36% 2011 2011 44
2011 201112.05 9 IPO 4 2IPO 25 (ETF) CMENYMEXCOMEX CME CBOT 45
IPO 5 2011 23 42 2 545 37% 5 2011 2011 16.19 0.613.91% 46
2011 129 49% 201129.28 14.2% 2011(C) (B) 8 2011 35.64 4.4614.31% 1 52.98 47
41.6 66.59 1 5,000 (FOF) 2011 28 18315825 2947 2011 2.01 20% 7614% 2011 10,225 1,500 2011 ATM3 1.6 0.6 0.2 9,400 1,800 ATM IC 48
1.3 72.45%67.78% 13.82 108 158.86% 60 5,500 121.67%6 47.32% 3GWAPAndroid ipad 1,700 27 B2C B2B 29 2011 2011 2011 19 49
2011 2011300 50
IT 2011 10IT34 1 2011 IT 100 IT IT 51
2011 2011 52
2011 632.74 8.041.00% 0.1 1,396.76 168.20220.75% 24.08 609.26 4.181.17% 0.11,925.04 444.59 3.03% 0.41 53
2011 2010 2009 6,087,036 95.97% 5,450,106 96.28% 4,696,573 95.65% 192,504 3.03% 148,045 2.62% 139,067 2.83% 26,153 0.41% 28,603 0.50% 35,858 0.73% 24,584 0.39% 20,784 0.37% 26,148 0.53% 12,537 0.20% 13,083 0.23% 12,712 0.26% 6,342,814 100.00% 5,660,621 100.00% 4,910,358 100.00% 63,274 1.00% 62,470 1.10% 74,718 1.52% 4,966,201 95.33% 4,556,215 95.76% 3,965,698 95.20% 182,567 3.50% 141,862 2.97% 128,222 3.07% 24,964 0.48% 27,142 0.57% 33,752 0.81% 23,621 0.45% 20,531 0.43% 25,655 0.62% 12,341 0.24% 12,835 0.27% 12,386 0.30% 5,209,694 100.00% 4,758,585 100.00% 4,165,713 100.00% 60,926 1.17% 60,508 1.27% 71,793 1.72% (%) 2011 2010 2009 2.56 2.02 2.40 12.94 5.13 10.07 55.42 23.05 25.60 5.68 15.66 9.76 39 633.06 5.701.00% 0.13 611.59 10.521.17% 0.14 21.47 4.82 0.19% 0.01 54
2011 2010 2009 63,876 76,006 90,879 20,804 20,780 28,676 (21,374) (32,910) (43,549) 63,306 63,876 76,006 62,211 73,680 87,352 19,726 20,020 27,519 (20,778) (31,489) (41,191) 61,159 62,211 73,680 2011 2010 2009 4,775,494 50,541 4,149,806 54,583 3,525,018 65,506 1,567,320 12,765 1,510,815 9,293 1,385,340 10,500 6,342,814 63,306 5,660,621 63,876 4,910,358 76,006 4,634,915 50,056 4,127,410 54,359 3,510,236 64,950 574,779 11,103 631,175 7,852 655,477 8,730 5,209,694 61,159 4,758,585 62,211 4,165,713 73,680 3 2.56% 4 3 3 55
2011192.7237.08 0.32% 0.03189.27 42.13 0.38%0.05 2011 2010 2009 (%) 10 3.1 2.9 3.8 (%) 50 18.9 20.2 28.0 1 2 16 3 2011 A 26,428 0.42% B 21,944 0.35% C 20,000 0.32% D 18,135 0.29% E 16,034 0.25% F 13,862 0.22% G 12,538 0.20% H 12,111 0.19% I 11,887 0.19% J 10,086 0.16% 56
4 25 4 2011 2010 25 (2,184) 301 43 (2,552) 242 (456) 25 2,184 (301) (43) 2,552 (242) 456 4 2011 25 57
2011 2011 2010 2009 (%) 25 47.0 43.2 45.3 25 56.2 52.2 55.6 (%) 2.9 2.1 2.7 24.3 14.6 10.3 (%) 4 0.82 1.00 1.04 8 2.25 1.08 2.82 1 2 + + 3 ++ 4 5 58
5 2011 2010 12,777 11,136 (3,886,641) (3,770,963) 1 625,317 293,431 1 3 (407,214) (107,056) 3 1 372,733 127,728 15 1,417,396 1,809,370 5 2,621,526 2,312,504 755,894 676,150 2011 2011 59
60
(1) (Risk and Control Assessment, RACA) (2)(Key Risk Indicator, KRI) (3) (Loss Data Collection, LDC) 2011 102 30,128.79 61
BASEL II BASEL III Economic Value Added, EVA (Risk Adjusted Return On Capital, RAROC) RAROC 62
BASEL III 201112.97% 10.07% 320 5 201110,951 10,365 586 372969,891 2011 5 2011 2010 19 63
4,925,502 35.22% 1,624 14.83% 51,107 17.63% 570,983 4.08% 919 8.39% 25,271 8.72% 2,808,353 20.08% 3,462 31.61% 89,088 30.72% 1,941,179 13.88% 2,733 24.96% 67,606 23.32% 965,857 6.91% 1,627 14.86% 35,758 12.33% 1,868,982 13.36% 493 4.50% 18,161 6.26% 904,756 6.47% 93 0.85% 2,960 1.02% (2,155,546) 11,830,066 100.00% 10,951 100.00% 289,951 100.00% 2011 289,951268,830 265,563 66,855 21,121 6,658 64
41 50 37.93% 50 6.53% 30 24.59% 6.23% 9.19% 54.71% 31 40 30.95% 29.87% 10.69% 0.26% 9.24% 9.66% 52.56% 1.83% 15.76% 2011 54,4522,073,768 65
ehr1.0 2011 179476 21 66
2012 201212% 67
A 2011 1 1 2011 1 2 3 4 279,147,223,195 100.00% 110,384 110,384 279,147,333,579 100.00% 1 195,524,946,800 70.04% 110,384 110,384 195,525,057,184 70.04% 2 3 83,622,276,395 29.96% 83,622,276,395 29.96% 4 279,147,223,195 100.00% 110,384 110,384 279,147,333,579 100.00% 1 2011 12 31 279,147,333,579 195,525,057,184 A 83,622,276,395 H 2 2011 12 31AH 3 A110,384 4 68
2010 6 2400A 2010 11 2 A 2.36101 A17,705,975,596 41,639,158,379.81 H2010 11 12 HH 2.7410 17,602,025,126 17,659,653,976.86 AH113001) 2010 12 2 2011 12 316,380 A 170,848 AH113001 279,147,333,579279,147,333,579 A AH (www.sse.com.cn)(www.hkexnews.hk) (www.boc.cn) 29 29 69
2011 12 311,107,015 874,563 A232,452 H 2012 2 291,093,899 862,758 A231,141 H 2011 1 188,701,419,541 67.60% A 2 81,318,854,581 29.13% H 3 The Bank of Tokyo-Mitsubishi UFJ Ltd. 520,357,200 0.19% H 4 429,218,309 0.15% A 005L FH002 5 304,007,461 0.11% H 6 195,759,432 0.07% A 008C CT001 7 005L CT001 147,201,482 0.05% A 8 115,983,491 0.04% A 9 99,999,900 0.04% A 9 99,999,900 0.04% A HH 148,067,536 005L FH002 005L CT001 2011 H [2010]148[2010]723 2010 6 2400A [2010]17 400A2010 6 18 70
2011 18,445 1 005L 2,116,015,000 5.29% FH002 2 005L 1,189,906,000 2.97% CT001 3 018L 1,131,788,000 2.83% FH001 4 1,067,039,000 2.67% 5 921,827,000 2.30% 6 914,596,000 2.29% 7 816,757,000 2.04% 8 756,292,000 1.89% 9 730,000,000 1.83% 10 677,194,000 1.69% A 39,999,773,000 411,000 39,999,362,000 411,000 110,384 170,848 (%) 0.000063% 39,999,362,000 (%) 99.9984% 71
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 3.59 SD[2011]53 AAA 72
H 2011 12 31336 A H 1 188,553,352,005 A 96.43% 67.55% 9,160,229,441 H 10.95% 3.28% 2 5,914,493,996 H 7.07% 2.12% 1 2011 A 2 Fullerton Management Pte. Ltd.Fullerton Management Fullerton Management Fullerton Management 5,766,518,206 H 147,975,790 H 2011 336 73
2003 12 16 8,282.09 8,282.09 2007 10 9 2011 12 3110% 74
1958 2004 8 2013 1952 2004 8 2013 1955 2004 8 2013 1964 2012 2 2015 1954 2007 8 2013 1955 2010 10 2013 1955 2010 10 2013 1963 2010 10 2013 1957 2011 7 2014 1972 2011 7 2014 1946 2004 8 2013 Alberto TOGNI 1938 2006 6 2012 1962 2007 8 2013 1949 2007 11 2013 1946 2010 10 2013 1950 2011 3 2014 1956 2010 3 2013 75
1957 2004 8 2013 1958 2004 8 2013 1959 2010 8 2013 1959 2004 12 2011 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 1949 2008 5 1 2 76
2011 77.55 28.70 106.25 69.79 27.35 97.14 66.96 26.66 93.62 27.95 10.97 38.92 55.00 55.00 Alberto TOGNI 95.47 95.47 35.00 35.00 35.00 35.00 27.27 27.27 67.86 24.93 92.79 56.42 22.62 79.04 56.42 22.17 78.59 59.90 21.31 81.21 32.30 15.65 47.95 50.33 11.03 61.36 10.40 10.40 8.80 8.80 9.27 9.27 77
13.39 13.39 65.24 26.03 91.27 65.41 24.85 90.26 65.52 25.43 90.95 65.39 29.77 95.16 65.39 29.38 94.77 493.93 70.87 564.80 120.34 23.67 144.01 61.25 27.18 88.43 78
1 20072009 2 2011 3 2011 32011 5 2011 7 2011 4 2011 8 2011 5 2011 122011 20112,326 2011 79
2003 3 2003 32004 8 1996 10 2003 3 1989 51996 10 2003 51981 1996 2004 8 2002 92004 8 1994 72002 91989 11994 7 2006 122009 6 19771999 2004 82000 11 1980 112000 11 2002 6 2012 31978 2012 219892006 8 2003 112006 8 1999 42004 1 1987 2005 80
2007 819862007 1983 1986 1995 20012003 2010 1019822010 1982 2 2010 1019822010 1982 1 2007 7 2010 101999 102010 2010 1999 31999 10 1986 1999 1984 1986 81
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 2004 92006 3 2004 112010 6 2010 6 82
Alberto TOGNI 2006 6 1959 (Swiss Bank Corporation (Union Bank of Switzerland) 1998 (UBS AG) 2005 4461998 200519941997 1994 2009 8 1965 2007 8 1986 1993 2007 11 1987 1999 82001 32001 42004 9 19931995 2004-2009 2010-2015 2007 9 2013 8 83
2010 10 2003 42010 1 19972003 199219972003 2010 1 2003 2010 120072008 200920012007 1970 1979 19821987 2010 200320052010 2011 3 35 20022007 200120021999 2001 20072008 19741999 2008 2010 2011 2011 20102008 1972 1974 84
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 85
2004 12 2000 8 19922000 7 2011 5 2003 102010 5 1982 1999 2011 51999 1985 86
2004 8 2002 62004 8 1998 82002 7 1983 2008 6 1990 2000 62008 5 2011 12 1982 1999 87
2010 8 19882009 52010 7 2003 72009 5 2000 112003 7 2010 32008 2010 8 19802009 32010 7 2008 32009 32005 22008 8 2010 92011 11 1999 2007 3 19831985 2011 1219822007 62011 12 1998 62007 2 1982 1999 2008 5 1997 1985 1992 88
2011 3 11 2011 5 28 2011 7 8 2012 2 15 2012 3 29 Arnout Henricus Elisabeth Maria WELLINK 2011 2011 5 28 2011 5 27 2010 2014 2012 2 21 2011 5 28 2011 8 17 2011 12 14 89
2011 1 2 20112010 10 2011 10 3 2011 19 87 201114 45 90
2011 2011 100 50 91
2011 10 2011H 92
2011 1 282011 2012 200 2011 5 272010 201020102010 2012 1 62012 2011 2010 2010 2010 2011 7 2010 2011 93
2010AAH2010 3 19 2010 2010 8 202010 2010AH 2011 3 23 16 36 6 2011 2011 3 244 285 278 2410 2612 8 62010 2010 2010 IT 94
201112 201199% 17/18 18/18 18/18 10/10 10/10 10/10 18/18 18/18 18/18 18/18 6/6 6/6 18/18 Alberto TOGNI 17/18 18/18 18/18 17/18 14/14 95
1 2011 18612 2 2011 10 26 3 2011 5 28 4 2011 7 8 5 Alberto TOGNI2011 5 27 6 2011 5 27 7 2011 3 11 10 Alberto TOGNI 2011 3 2010 2012 96
2011100% 3/3 3/3 1/1 1/1 3/3 3/3 3/3 3/3 2/2 2/2 Alberto TOGNI 3/3 3/3 1 2011 5 28 2 2011 7 8 8 Alberto TOGNI 97
20115 20102012 2010 2011 2011 2012 2011100% 5/5 2/2 5/5 3/3 5/5 Alberto TOGNI 5/5 5/5 5/5 5/5 1 2011 5 28 2 2011 7 8 3 2011 3 11 20112011 98
2012 2011 2011 2012 2012 99
IT 2012 3 29 7 Alberto TOGNI 20116 2012 100
2011100% 6/6 2/2 6/6 6/6 Alberto TOGNI 6/6 6/6 6/6 1 2011 5 28 2 2012 3 2 6 20116 1 2010 2011 2011 2010 2011 101
2011 97% 7/7 5/5 2/2 6/7 7/7 7/7 1 2011 5 28 2 2011 7 8 3 2011 8 23 4 2012 3 29 7 Alberto TOGNI Alberto TOGNI 20114 2010 2011 2011 102
201197% Alberto TOGNI 4/4 4/4 1/1 3/4 4/4 4/4 4/4 4/4 1 2011 8 23 Alberto TOGNI 2 2011 5 28 3 2011 3 11 6 3.13 2011 2011 103
[2003]56 Alberto TOGNI 2011 7,691.24 7322 2011 6 1 4 104
2011 29 125 IT 105
2010 2011 2011 2011 12 31 2.15 800 920112006 2011 2012 2006 2012 2011 2011 20102011 200 106
2011 11A/A-1 2011 2011 2011 2011 2010 (League of American Communications Professionals) 2050 107
2011 30% 2011 0.155 2012 5 30 2011 2012 5 30 2011 5 2720100.146 2011 7 407.56 2011 6 302011 2010 2009 2008 40,756 35,537 32,999 39% 44% 52% 1 2 108
2009 2011 3 24 35% 45%2010 2013 2011 2010 H 2012 6 8 6 12 H H 2012 6 74 30 183 17 1712-1716H 2012 6 6 4,053.90 109
37 20 20065 2011 14A.3114A.33 110
2002 7 5(BVI) (BVI) 8.50 2002 7 25 4 10 2011 2002 7 5 2011 2011 1 1 2002 7 5 8.50 2003 7 252012 7 4 1,446,000 1,446,000 1,446,000 2011 5 28 2011 5 28 1,084,500 (BVI) 18 2011 XV 352 111
33 (BVI) 2011 12 311,098 36 2009 7 62010 3 9400249.3 2010 3 9 249.3 2005339.3 112
2010 6 2400A 39,776,221,747 2010 1112A 59,298,812,357 2011 5 17 320 A [2005]102[2005]107 50% [2005]102 50% 12 10% 113
H H10% H [2008]897 H2008 10% 2012 3 29 114
20116 23 1 1 17 2011 2 3 242010 2010 2010 2010 2010 2011 2010 3 4 282011 4 7 26 2011 5 8 242011 6 10 262011 115
2011 98% 6/6 6/6 6/6 6/6 6/6 5/6 3/3 3/3 3/3 3/3 1 2011 8 24 2012 2 21 2 2011 5 28 3 2011 5 27 2011 1 2010 20114 20102010 2010 2010 2011 20112011 116
2011 2011 2010 7 11 5 117
118
1 2 2011 3 4 5 6 2011 119
2005 11 42 120
(1) (2) 166 121
1 Fortis-Flex III China Fund I 2,104,048,079 253,455 2,221,052,222 34.68% 94,925,979 2 823 HK 268,190,558 18,701,019 431,328,124 6.73% 64,244,449 3 260,134,793 2,600,000 263,334,451 4.11% 3,199,658 4 939 HK 131,726,501 43,024,334 188,883,438 2.95% (25,367,800) 5 MA MasterCard Inc. 55,679 130,755,707 2.04% 52,116,231 6 1398 HK 83,484,080 20,898,415 78,104,211 1.22% (4,566,131) 7 XS0283693447 46,407,711 10,000 45,905,888 0.72% (323,591) 8 883 HK 47,088,533 3,600,876 39,643,146 0.62% (5,808,271) 9 XS0284704441 Gainlead International Ltd. 37,601,887 8,000 37,211,130 0.58% (1,071,137) 10 13 HK 37,025,094 677,186 35,712,144 0.56% (12,396,776) 2,062,304,467 2,933,118,709 45.79% 560,317,802 (701,560,320) 5,078,011,703 6,405,049,170 100% 23,710,093 1 2 3 4 2008 HK 315,971,569 8.30% 647,976,296 26,580,388 (227,125,712) 549 HK 56,043,246 10.95% 42,903,608 15,223,861 372,014,815 690,879,904 26,580,388 (211,901,851) 122
1 5% 2 47,283,583 20% 132,770,698 36,168,701 986,065,760 14% 1,053,131,379 (20,510,050) 13,458 1,660 11% 13,458 58,352,891 10% 80,756,432 8,767,681 1,091,715,692 1,266,671,967 44,936,382 (20,510,050) 1 2 5% 3 4 1,697,235,937 275,751,250 (331,758,319) 1,250,385,708 2,235,212,893 (341,237,206) 123
128371 124
125
.......................................................... 128..................................................... 129..................................................... 130.......................................................... 132................................................. 134..................................................... 136................................................... 138................................................... 139................... 173........................................................... 177 1................................................ 178 2..................................... 179 3................................................ 180 4.............................................. 181 5.................................................. 182 6.................................................. 183 7............................... 184 8.............................................. 188 9.................................................... 189 10............................... 191 11............................................ 193 12.............................................. 194 13.................................................. 195 14............ 196 15................................... 198 16............................................ 203 17.................................................. 210 18................................................ 215 19................................... 216 20.................................................. 217 21.................................................. 223 22.................................................. 225 23.............................................. 231 24.................................................. 235 126
25............................................ 235 26............................... 236 27.................................................. 236 28.................................................. 237 29.................................................. 239 30.............................................. 244 31.................................................. 244 32.............................................. 245 33.............................................. 247 34................................................ 249 35.................................................. 253 36................................... 259 37.............. 260 38............................. 262 39.............................................. 262 40............................................ 263 41....................................... 267 42.................................................. 268 43.................................................. 276 1...................................................... 282 2......................................... 282 3.................................................. 282 4.................................................. 323 5................................................ 345 6................................. 361 7.................................................. 368 8.................................................. 371 1................................................ 372 2.............................................. 373 3.................................................. 374 4.................................................. 376............................................. 377 127
2011 2010 1 413,102 313,533 1 (185,038) (119,571) 228,064 193,962 2 70,018 59,214 2 (5,356) (4,731) 64,662 54,483 3 7,858 3,491 3,442 3,380 4 24,272 21,202 328,298 276,518 5 (140,815) (122,409) 8 (19,355) (12,993) 168,128 141,116 19 516 1,029 168,644 142,145 9 (38,325) (32,454) 130,319 109,691 124,182 104,418 6,137 5,273 130,319 109,691 10 0.44 0.39 0.43 0.39 37.3 128
2011 2010 130,319 109,691 2,642 4,660 (546) (756) (3,228) (6,163) 555 1,117 (577) (1,142) 254 97 1 254 98 (6,430) (2,973) 647 120 (5,783) (2,853) 95 140 (6,011) (3,757) 124,308 105,934 119,640 101,358 4,668 4,576 124,308 105,934 129
2011 2010 * 11 590,964 636,126 12 1,919,651 1,573,922 13 618,366 213,716 26 56,108 42,469 95,907 86,218 14 73,807 81,237 15 42,757 39,974 16 6,203,138 5,537,765 17 553,318 656,738 1,074,116 1,039,386 299,518 277,963 1,926,952 1,974,087 19 13,293 12,631 20 138,234 123,568 21 14,616 13,839 34 19,516 24,041 22 116,757 100,272 11,830,066 10,459,865 *23 130
2011 2010 * 24 1,370,943 1,275,814 25 81,456 73,415 26 56,259 42,511 27 265,838 230,801 15 35,473 35,711 28 8,256,874 7,539,155 561,087 194,382 8,817,961 7,733,537 29 169,902 131,887 30 26,724 19,499 31 29,353 22,775 32 6,086 6,440 34 4,486 3,919 35 209,691 207,406 11,074,172 9,783,715 36.1 279,147 279,147 36.1 115,359 114,988 36.2 (25) (138) 37.1 52,165 40,227 37.2 81,243 71,195 209,816 148,355 38 3,642 4,015 (18,185) (13,624) 723,162 644,165 39 32,732 31,985 755,894 676,150 11,830,066 10,459,865 *23 2012 3 29 131
2011 2010 * 11 576,155 620,979 12 1,785,152 1,282,532 13 577,233 245,333 26 2,691 2,486 91,642 83,100 14 31,887 17,814 15 20,969 19,157 16 5,546,805 4,951,171 17 271,364 392,480 1,025,620 984,127 290,387 263,178 1,587,371 1,639,785 18 83,789 79,933 19 48 45 20 74,529 65,494 21 1,280 1,285 34 19,648 24,359 22 79,638 75,066 10,478,837 9,108,539 *23 132
2011 2010 * 24 1,273,561 1,098,337 25 73,847 65,120 26 2,842 2,527 27 304,309 255,776 15 17,387 17,232 28 7,249,861 6,601,698 557,039 191,720 7,806,900 6,793,418 29 148,271 116,283 31 26,527 20,181 32 6,086 6,440 34 124 177 35 133,769 122,772 9,793,623 8,498,263 36.1 279,147 279,147 36.1 113,670 114,368 37.1 50,487 38,777 37.2 76,515 67,604 166,950 111,380 38 604 (2) (2,159) (998) 685,214 610,276 10,478,837 9,108,539 *23 2012 3 29 133
2011 1 1 279,147 114,988 40,227 71,195 148,355 4,015 (13,624) (138) 31,985 676,150 124,182 6,137 130,319 392 (373) (4,561) (1,469) (6,011) 392 124,182 (373) (4,561) 4,668 124,308 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 279,147 115,359 52,165 81,243 209,816 3,642 (18,185) (25) 32,732 755,894 134
2010 1 1 253,839 76,710 30,391 60,328 100,758 4,750 (11,741) (43) 30,402 545,394 104,418 5,273 109,691 139 (3) (1,313) (1,883) (697) (3,757) 139 104,415 (1,313) (1,883) 4,576 105,934 25,308 33,991 59,299 29 4,148 4,148 37.1 9,837 (9,837) 37.2 10,874 (10,874) 37.3 (35,537) (3,283) (38,820) 6 6 36.2 (95) (95) (1) (7) (570) 578 284 284 2010 279,147 114,988 40,227 71,195 148,355 4,015 (13,624) (138) 31,985 676,150 135
2011 2010 * 168,644 142,145 19,355 12,993 10,301 8,684 1,956 1,635 (372) (341) (7) (128) (516) (1,029) (54,600) (51,936) (188) (165) (3,442) (3,380) 6,554 4,676 (356,193) (259,151) (88,624) (263,656) (9,689) (26,563) (597) (17,630) (683,599) (755,998) (14,303) 30,067 95,129 371,648 8,041 11,800 35,037 44,158 1,084,424 1,016,715 7,225 8,242 17,810 64,462 242,346 337,248 (27,989) (28,251) 214,357 308,997 *23 136
2011 2010 * 3,949 2,977 471 471 380 467 54,882 51,077 1,336,845 1,210,766 (1,200) (1,834) (32,455) (23,990) (1,307,098) (1,434,877) 55,774 (194,943) 36,841 85,711 59,299 (793) (26,928) (4,444) (3,406) (40,756) (35,537) (3,978) (3,283) 170 173 (12,960) 76,029 (9,174) (7,031) 247,997 183,052 769,371 586,319 41 1,017,368 769,371 *23 137
1912 2 51949 1949 1994 2004 8 26 2006 B0003H111000001 100000000001349 2011 12 31 67.60% 2010 12 3167.55% 2012 3 29 138
1 1.1 2011 24 2010 2011 1 1 24 139
1 1.1 2011 2011 1 21 28 31 34 3 13 14 19 27 140
1 1.2 2011 2011 1 2012 7 1 12 2012 1 1 19 2013 1 1 32 2014 1 1 7 2013 1 1 7 2011 7 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 1 141
1 1.2 2011 1 12 40 19 32 7 7 9 39 9 7 39 9 142
1 1.2 2011 101112 2728 13 143
2 2.1 50% 144
2 2.1 2.2 20% 50% 145
2 2.2 2.3 146
3 3.1 3.2 147
3 3.2 (i) (ii) (iii) 4 4.1 148
4 4.1 (1) 149
4 4.1 (2) (3) (4) (5) 150
4 4.2 4.3 4.4 151
4 4.5 4.6 (i) (ii) (iii) (iv) (v) 152
4 4.6 (vi) (vii) (viii) (ix) (1) 153
4 4.6 (1) (2) 154
4 4.6 (2) 4.7 155
4 4.7 (1) 156
4 4.7 (2) (3) 157
4 4.8 4.9 158
4 4.10 5 6 159
7 160
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 15% 7.3 8 8.1 161
8 8.2 8.3 9 162
10 11 12 12.1 2004 1 1 163
12 12.1 12.2 2003 164
12 12.3 12.4 (1) (2) 165
12 12.5 13 14 14.1 166
14 14.2 (1) (2) 14.3 167
15 16 17 18 168
19 20 21 169
21 21.1 21.2 170
21 21.2 22 171
23 2011 28 2010 215,874 191,720 7,483,254 7,733,537 6,546,663 6,793,418 42,620 19,499 23,121 218,694 207,406 154,686 122,772 2010 1 1 44,234 27,258 6,620,552 6,716,822 5,824,279 5,915,104 37,186 11,257 25,929 187,924 161,817 132,005 94,367 172
1 173
1 2 174
3 39 4 39 5 175
6 12.2 32 7 176
8 2011 2010 25% 25% 5% 5% 1% 7% 1% 7% 3% 3.5% 3% 3.5% 16.5% 16.5% 177
1 2011 2010 296,913 227,529 (1) 56,728 53,987 25,177 18,604 34,284 13,413 413,102 313,533 (139,905) (92,525) (38,227) (22,086) (6,906) (4,960) (185,038) (119,571) (2) 228,064 193,962 666 965 (1) (2) 4,109.131,695.35 2010 3,114.251,179.25 178
2 2011 2010 13,268 10,178 12,389 9,144 12,139 11,021 10,747 9,574 8,545 8,114 6,507 4,385 1,809 1,491 4,614 5,307 70,018 59,214 (5,356) (4,731) 64,662 54,483 179
3 2011 2010 (1) 9,618 3,072 (1,983) (332) (235) 394 458 357 (2) 7,858 3,491 (1) 2011 90.51 2010 6.61 187.82 2010 37.33 (2) 2011 0.88 2010 9.03 180
4 2011 2010 (1) 7,678 8,526 6,955 4,033 3,804 3,509 436 417 248 207 1,864 1,649 7 128 3,280 2,733 24,272 21,202 (1) 2011 2010 10,702 7,532 (5,997) (1,886) 4,705 5,646 3,521 3,329 (548) (449) 2,973 2,880 7,678 8,526 181
5 2011 2010 6 60,793 53,420 (1) 35,461 30,816 18,581 14,414 12,257 10,319 5,673 6,955 1,905 1,982 6,310 3,664 21 127 64 76 (2) (2,316) 78 2,066 558 140,815 122,409 (1) 20112.15 2010 2.13 0.48 2010 0.46 2011 45.17 94.79 2010 37.24 83.84 (2) 2011 6 15 23.94 2011 182
6 2011 2010 44,429 37,848 1,591 2,967 32 626 571 1,984 1,583 4,130 3,553 920 802 325 213 102 75 120 92 3,331 2,769 1,558 1,343 23 17 1,654 1,587 60,793 53,420 183
7 2011 (3) (2) 775 60 227 1,062 (3) (2) 698 63 210 971 (3) (2) 670 62 204 936 (3) (4) (2) 279 28 82 389 (1) (4) (1) (4) (1) (1) (1) (1) (1) (5) (1) (5) 550 550 Alberto TOGNI 955 955 (1) 350 350 350 350 (5) 273 273 (3) 679 43 206 928 (3) 564 53 173 790 (3) 564 52 170 786 (3) 599 48 165 812 (3) 323 45 112 480 (3) 503 41 70 614 (5) 93 93 (5) 134 134 (4) 104 104 (4) 88 88 2,897 5,654 495 1,619 10,665 184
7 2010 (3) (3) (2) 428 52 212 506 508 1,706 (3) (2) 385 54 202 456 457 1,554 (3) (2) 370 53 197 437 439 1,496 (3) (2) 370 56 195 435 437 1,493 (1) (1) (1) (1) (1) (1) (1) (1) (1) 300 300 550 550 Alberto TOGNI 1,085 1,085 550 550 350 350 68 68 (3) 312 36 157 369 371 1,245 (3) 94 19 48 111 111 383 (3) 386 46 158 573 1,163 (3) 386 45 156 539 1,126 (3) 142 14 51 474 681 (3) 268 39 100 208 615 (3) 325 34 40 593 992 112 112 95 95 3,110 3,466 448 1,516 4,701 2,323 15,564 185
7 (1) 2011 2010 2011 (2) 2011 2010 (3) 2011 2011 2010 2011 5 27 3 (4) 2011 5 28 2011 5 28 2011 5 28 (5) 2011 7 82011 3 11 2011 5 27 2002 7 2011 2010 186
7 2011 2010 2011 2010 16 26 42 22 5 2 63 50 2011 2010 7,500,001 8,000,000 1 8,500,001 9,000,000 1 9,500,001 10,000,000 1 1 10,000,001 10,500,000 1 10,500,001 11,000,000 1 12,000,001 12,500,000 1 12,500,001 13,000,000 1 14,500,001 15,000,000 1 16,000,001 16,500,000 1 2011 2010 187
8 2011 2010 (1) 191 (1,790) 19,081 17,354 19,272 15,564 (1)(2) (711) (2,884) 647 468 (64) (2,416) 58 (69) 10 (1) 4 (2,486) 79 (85) 19,355 12,993 (1) 16 23 188
8 (2) 2011 2010 (434) (1,526) Alt-A (108) (411) Non-Agency (221) (647) 767 98 4 (2,486) 9 2011 2010 28,795 28,082 3,289 2,701 1,458 1,207 33,542 31,990 34 4,783 464 38,325 32,454 189
9 25% 7) 2011 2010 168,644 142,145 42,161 35,536 (2,208) (2,149) 1,527 1,080 (1) (4,707) (3,439) (2) 1,749 2,074 (197) (648) 38,325 32,454 (1) (2) 190
10 2011 2010 124,182 104,418 279,123 264,393 0.44 0.39 2011 2010 279,147 253,839 10,575 29 (24) (21) 279,123 264,393 191
10 2011 2010 124,182 104,418 12 31 949 521 125,131 104,939 279,123 264,393 10,946 6,241 290,069 270,634 0.43 0.39 192
11 2011 2010 2011 2010 61,833 49,222 55,830 44,811 416,233 563,578 385,164 552,281 3,541 1,459 3,378 1,448 109,306 21,867 131,735 22,439 51 48 (1) 590,964 636,126 576,155 620,979 (1) 42.7 193
12 2011 2010 2011 2010 (1) 1,467,139 1,109,878 1,457,962 1,104,652 (2) 181,020 111,501 179,390 110,378 (3) 271,492 352,543 147,800 67,502 1,919,651 1,573,922 1,785,152 1,282,532 (1) 2011 12 3121.0% 2010 12 3118.5%5.0% 2010 12 315.0% (2) (3) 194
13 2011 2010 2011 2010 410,655 91,752 359,284 76,584 112,629 83,188 112,629 83,188 (1) 95,320 39,019 83,086 56,146 (1) 22,472 29,658 (2) 618,604 213,959 577,471 245,576 (238) (243) (238) (243) 618,366 213,716 577,233 245,333 238 243 238 243 0.04% 0.11% 0.04% 0.10% (1) 42.7 (2) 2011 2010 2011 2010 90,925 43,692 88,596 42,297 72,773 29,778 72,297 29,778 3,262 2,547 163,698 76,732 160,893 74,622 195
14 2011 2010 2011 2010 6,355 5,477 5,931 5,420 2,135 1,936 1,803 1,032 204 333 40 30 2,054 1,012 1,436 348 15,127 29,472 153 203 417 1,353 61 4,723 4,585 31,168 44,371 9,210 6,891 409 429 729 3,863 32,306 48,663 9,210 6,891 196
14 2011 2010 2011 2010 69 174 69 23 1,822 1,666 1,822 1,666 347 327 347 242 463 462 393 416 26,690 20,206 14,276 6,276 3,936 3,745 1,705 1,370 33,307 27,189 18,265 9,751 3,115 2,577 (1) 4,412 1,172 4,412 1,172 667 1,636 41,501 32,574 22,677 10,923 (2) (3) 73,807 81,237 31,887 17,814 9,463 7,735 4,475 2,346 (4) 29,693 22,640 22,688 13,971 34,651 50,862 4,724 1,497 73,807 81,237 31,887 17,814 197
14 (1) 2011 2010 (2) 2011 2011 2010 2011 2010 6,424 5,651 6,000 5,443 0.72% 4.33% 1.60% 9.00% 2.71% 4.33% 3.07% 4.48% (3) 2011 12 31 13.77 2010 20.62 (4) 15 198
15 15.1 2011 2010 (1) 1,930,235 31,615 (21,687) 1,979,959 30,763 (23,829) 17,404 203 (50) 4,585 24 (25) 1,947,639 31,818 (21,737) 1,984,544 30,787 (23,854) 618,375 9,027 (11,390) 532,670 7,308 (10,081) 2,201 1 (18) 85 3,424 1 (1) 7,388 8 (3) 624,000 9,029 (11,409) 540,143 7,316 (10,084) 3,991 102 (98) 8,684 123 (183) 77,347 1,808 (2,229) 33,415 1,744 (1,590) 315 331 4 2,653,292 42,757 (35,473) 2,567,117 39,974 (35,711) 199
15 15.1 2011 2010 (1) 1,506,582 15,637 (9,501) 1,471,850 13,164 (10,162) 8,730 102 (25) 1,090 15 (15) 1,515,312 15,739 (9,526) 1,472,940 13,179 (10,177) 262,617 4,337 (6,360) 253,521 5,113 (6,229) 945 (14) 290 263,562 4,337 (6,374) 253,811 5,113 (6,229) 107 583 2 (1) 40,143 893 (1,487) 21,679 859 (825) 315 331 4 1,819,439 20,969 (17,387) 1,749,344 19,157 (17,232) (1) 200
15 15.2 2011 2010 1,121 26 1,012 183 (1) 28,040 2,389 (900) 39,435 740 (1,568) (1) 29,161 2,415 (900) 40,447 923 (1,569) 3,432 48 (81) 3,776 48 (63) 576 (16) 8,354 92 (106) (2) 4,008 48 (97) 12,130 140 (169) 33,169 2,463 (997) 52,577 1,063 (1,738) (1) 201
15 15.2 (1) 2011 2010 1,158 (177) (1,275) 113 (117) (64) (2) 2011 0.09 20100.252011 2010 0.62 2011 2010 (3) 2011 8.26 20106.81 2011 2010 202
16 16.1 2011 2010 2011 2010 2011 2010 4,628,846 4,143,775 4,168,833 3,733,290 3,733,643 3,445,891 96,459 100,608 93,551 98,487 84,812 94,794 4,725,305 4,244,383 4,262,384 3,831,777 3,818,455 3,540,685 1,213,322 1,089,006 1,050,046 940,226 1,025,988 921,373 97,659 60,833 89,828 53,827 89,453 53,487 306,528 266,399 281,199 245,733 275,798 243,040 1,617,509 1,416,238 1,421,073 1,239,786 1,391,239 1,217,900 6,342,814 5,660,621 5,683,457 5,071,563 5,209,694 4,758,585 (36,265) (36,834) (35,749) (36,427) (35,228) (35,985) (103,411) (86,022) (100,903) (83,965) (98,282) (80,814) (139,676) (122,856) (136,652) (120,392) (133,510) (116,799) 6,203,138 5,537,765 5,546,805 4,951,171 5,076,184 4,641,786 16.2 3.5 203
16 16.3 (1) (2) 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 2010 5,596,745 13,152 50,724 63,876 5,660,621 1.13% (77,447) (8,575) (36,834) (45,409) (122,856) 5,519,298 4,577 13,890 18,467 5,537,765 204
16 16.3 (1) (2) 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 2010 5,008,245 13,095 50,223 63,318 5,071,563 1.25% (75,415) (8,550) (36,427) (44,977) (120,392) 4,932,830 4,545 13,796 18,341 4,951,171 205
16 16.3 (1) (2) 2011 5,148,535 12,620 48,539 61,159 5,209,694 1.17% (90,012) (8,270) (35,228) (43,498) (133,510) 5,058,523 4,350 13,311 17,661 5,076,184 2010 4,696,374 13,053 49,158 62,211 4,758,585 1.31% (72,284) (8,530) (35,985) (44,515) (116,799) 4,624,090 4,523 13,173 17,696 4,641,786 206
16 16.3 (1) (2) 207
16 16.4 2011 2010 36,834 86,022 122,856 42,415 70,535 112,950 12,066 41,425 53,491 10,136 35,444 45,580 (11,875) (22,344) (34,219) (11,926) (18,090) (30,016) (949) (860) (1,809) (4,079) (1,438) (5,517) 589 21 610 631 135 766 (98) (216) (314) (162) (233) (395) (302) (637) (939) (181) (331) (512) 36,265 103,411 139,676 36,834 86,022 122,856 36,427 83,965 120,392 41,611 68,755 110,366 11,760 40,655 52,415 10,075 34,924 44,999 (11,490) (22,280) (33,770) (11,290) (18,043) (29,333) (876) (744) (1,620) (3,915) (1,312) (5,227) 314 1 315 269 100 369 (97) (214) (311) (155) (233) (388) (289) (480) (769) (168) (226) (394) 35,749 100,903 136,652 36,427 83,965 120,392 35,985 80,814 116,799 41,311 66,335 107,646 11,657 39,902 51,559 9,809 34,201 44,010 (11,444) (21,188) (32,632) (11,253) (18,043) (29,296) (876) (727) (1,603) (3,850) (1,289) (5,139) 275 275 269 269 (97) (214) (311) (143) (233) (376) (272) (305) (577) (158) (157) (315) 35,228 98,282 133,510 35,985 80,814 116,799 208
16 16.5 2011 2010 101,376 21,480 122,856 92,028 20,922 112,950 50,248 3,243 53,491 44,165 1,415 45,580 (34,135) (84) (34,219) (29,965) (51) (30,016) (1,197) (612) (1,809) (4,880) (637) (5,517) 577 33 610 721 45 766 (140) (174) (314) (210) (185) (395) (874) (65) (939) (483) (29) (512) 115,855 23,821 139,676 101,376 21,480 122,856 99,252 21,140 120,392 89,744 20,622 110,366 49,414 3,001 52,415 43,791 1,208 44,999 (33,722) (48) (33,770) (29,333) (29,333) (1,129) (491) (1,620) (4,727) (500) (5,227) 315 315 369 369 (137) (174) (311) (203) (185) (388) (761) (8) (769) (389) (5) (394) 113,232 23,420 136,652 99,252 21,140 120,392 95,928 20,871 116,799 87,229 20,417 107,646 48,706 2,853 51,559 42,887 1,123 44,010 (32,632) (32,632) (29,296) (29,296) (1,128) (475) (1,603) (4,655) (484) (5,139) 275 275 269 269 (137) (174) (311) (191) (185) (376) (577) (577) (315) (315) 110,435 23,075 133,510 95,928 20,871 116,799 209
17 2011 2010 2011 2010 56,338 122,199 49,384 111,334 1,872 2,790 1,368 2,771 48,667 95,121 39,270 90,818 13,294 20,617 3,136 8,268 67,116 57,483 59,303 56,374 133,912 90,437 55,691 38,469 34,175 45,429 5,385 17,615 148,506 174,496 50,058 53,173 20,212 23,988 6,133 12,298 524,092 632,560 269,728 391,120 23,281 19,142 1,636 1,360 5,945 5,036 (1) 553,318 656,738 271,364 392,480 210
17 2011 2010 2011 2010 575,744 689,539 562,103 684,474 16,220 13,672 16,220 13,672 270,346 146,428 270,000 145,714 23,182 19,584 21,368 16,128 123,828 90,480 123,120 90,124 33,762 32,744 29,475 28,066 5,443 7,785 195 1,233 22,590 34,257 2,543 4,224 3,355 5,335 930 888 1,074,470 1,039,824 1,025,954 984,523 (354) (438) (334) (396) (2) 1,074,116 1,039,386 1,025,620 984,127 (3) 160,000 160,000 160,000 160,000 (4) 82 82 (5) 22,291 22,291 (6) 42,500 42,500 42,500 42,500 14,480 16,541 14,480 15,660 (7) 41,483 43,639 41,483 43,639 12,845 3,094 9,124 1,374 5,410 12,184 584 584 299,593 278,040 290,462 263,255 (75) (77) (75) (77) 299,518 277,963 290,387 263,178 (8) (9) 1,926,952 1,974,087 1,587,371 1,639,785 211
17 2011 2010 2011 2010 14,294 11,800 5,560 5,228 262,669 405,093 179,857 308,776 247,129 215,667 84,311 77,116 5,138 5,748 340 274 23,748 18,156 1,636 1,360 2,206 2,269 1,204 1,468 1,010,958 971,645 998,511 954,533 60,952 65,472 25,905 28,126 299,518 277,963 290,387 263,178 1,926,952 1,974,087 1,587,371 1,639,785 21,638 19,817 6,764 6,696 1,273,967 1,377,012 1,178,368 1,263,309 631,347 577,258 402,239 369,780 1,926,952 1,974,087 1,587,371 1,639,785 212
17 2011 2010 2,206 2,288 2,269 2,375 1,010,958 1,012,649 971,645 958,476 2011 2010 1,204 1,254 1,468 1,528 998,511 1,000,082 954,533 941,193 (1) 2011 91.35 37.882010 159.3134.80 (2) 2011 31,365.03 213
17 (3) 19992000 2000 7 11,600 2.25% 2010 2020 6 30 [2004]87 (4) 20112006 6 220.82 (5) 230.00 (6) 1998 8 18425 2028 8 18 7.20%2004 12 1 2.25% (7) 2011 12 31332.17 2010 12 31 435.622011168.00 2010 396.002.31 2010 2.95 214
17 (8) 2011 2011 2010 2011 2010 639,751 832,924 619,156 816,995 1.12% 4.92% 1.38% 6.80% 1.12% 4.92% 1.38% 6.80% (9) 2011 12 31404.02 2010 12 31 290.86 18 42.7 2011 2010 36,915 36,915 29,633 28,281 4,509 4,509 3,753 3,753 2,126 2,126 (1) 1,998 82 82 4,773 4,267 83,789 79,933 (1) 2011 12 5 215
19 2011 2010 2011 2010 12,631 10,668 45 18 1,335 1,834 (464) (343) 516 1,029 6 28 254 97 (192) (302) (787) (352) (3) (1) 13,293 12,631 48 45 2011 2010 4,665 4,524 2,273 2,037 1,540 1,466 981 981 785 727 731 20 637 240 475 543 169 133 91 904 2,002 13,293 12,631 42.4 216
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 42,153 138,234 217
20 2010 68,622 33,403 11,680 38,260 151,965 492 8,021 7,766 6,699 22,978 21 3,349 (4) 3,345 2,905 1,127 (6,452) 2,420 (894) (1,609) (88) (2,540) (5,131) (416) (190) (96) (1,132) (1,834) 74,058 40,752 12,806 43,707 171,323 (18,000) (20,625) (2,288) (40,913) (2,190) (5,008) (1,486) (8,684) 730 1,556 337 2,623 82 135 66 283 (19,378) (23,942) (3,371) (46,691) (819) (279) (1,098) (9) (9) 21 22 43 (798) (257) (9) (1,064) 49,803 12,778 11,401 35,972 109,954 53,882 16,810 12,549 40,327 123,568 218
20 2011 12 31 4.77 2010 22.58 2011 12 31412.87 2010 393.94 2011 12 31319.98 2010 12 31 348.13 30) 219
20 2011 57,727 36,051 9,743 103,521 335 7,985 8,784 17,104 21 16 16 4,253 124 (4,377) (667) (1,741) (15) (2,423) (180) (33) (213) 61,484 42,386 14,135 118,005 (16,307) (20,665) (36,972) (1,919) (5,855) (7,774) 567 1,658 2,225 47 25 72 (17,612) (24,837) (42,449) (798) (257) (1,055) 23 5 28 (775) (252) (1,027) 40,622 15,386 9,486 65,494 43,097 17,549 13,883 74,529 220
20 2010 55,111 28,813 8,595 92,519 378 7,651 5,064 13,093 21 217 217 2,814 1,011 (3,825) (809) (1,414) (91) (2,314) 16 (10) 6 57,727 36,051 9,743 103,521 (15,094) (17,588) (32,682) (1,865) (4,454) (6,319) 649 1,371 2,020 3 6 9 (16,307) (20,665) (36,972) (819) (279) (1,098) 21 22 43 (798) (257) (1,055) 39,198 11,225 8,316 58,739 40,622 15,386 9,486 65,494 221
20 2011 2011 2010 2011 2010 50 4,003 4,177 10-50 7,777 7,960 10 8 8 11,788 12,137 8 50 4,538 4,601 3,901 4,387 10-50 40,568 36,471 38,687 35,839 10 501 673 501 396 45,607 41,745 43,089 40,622 57,395 53,882 43,097 40,622 222
21 2011 2010 2011 2010 13,839 15,952 1,285 1,384 502 20 (696) (3,345) (16) (217) (273) (94) 4 1,864 1,649 100 88 (620) (323) (89) 30 14,616 13,839 1,280 1,285 2011 12 31 75.2957.91 2010 67.9457.45 2011 223
21 2011 2010 2011 2010 50 2,086 2,150 10-50 6,004 5,498 10 8,090 7,648 50 1,829 2,611 714 1,084 10-50 4,502 3,379 371 10 195 201 195 201 6,526 6,191 1,280 1,285 14,616 13,839 1,280 1,285 224
22 2011 2010 2011 2010 (1) 54,817 42,025 50,174 38,254 (2) 38,245 35,377 13,235 20,943 (3) 2,602 2,342 2,406 2,161 (4) 9,353 9,023 8,561 8,889 (5) 1,057 1,531 712 988 (6) 1,752 1,851 8,931 8,123 4,550 3,831 116,757 100,272 79,638 75,066 (1) 2011 2010 2011 2010 22,494 22,668 19,957 19,916 22,164 14,811 20,982 13,939 10,159 4,546 9,235 4,399 54,817 42,025 50,174 38,254 225
22 (1) 2011 2010 2011 2010 42,025 34,390 38,254 31,258 411,650 311,239 384,370 289,761 (398,858) (303,604) (372,450) (282,765) 54,817 42,025 50,174 38,254 (2) 2011 2010 2011 2010 40,209 37,496 15,122 22,988 (1,964) (2,119) (1,887) (2,045) 38,245 35,377 13,235 20,943 226