PRINCIPALES TEORÍAS DE APRENDIZAJE EN EL

The following table sets forth the profi t before tax for each line of business of the Group:

Unit: RMB million, except percentages

2011 2010

Items Amount % of total Amount % of total

Commercial banking business Including: Corporate banking

business 101,887 60.42% 89,170 62.73%

Personal banking

business 37,523 22.25% 32,980 23.20%

Treasury operations 19,166 11.36% 11,005 7.74%

Investment banking and

insurance 2,674 1.59% 2,241 1.58%

Others and elimination 7,394 4.38% 6,749 4.75%

Total 168,644 100.00% 142,145 100.00%

A detailed review of the Group’s principal deposits and loans as at the end of 2011 is summarised in the following table:

Unit: RMB million, except percentages Items

As at 31 December 2011

As at

31 December 2010 Change Corporate deposits

Domestic: RMB 3,842,173 3,374,811 13.85%

Foreign currency 194,682 180,517 7.85%

Hong Kong, Macau, Taiwan, and

overseas operations: 657,460 508,178 29.38%

Sub-total 4,694,315 4,063,506 15.52%

Savings deposits

Domestic: RMB 3,165,161 2,775,551 14.04%

Foreign currency 184,810 197,175 (6.27%)

Hong Kong, Macau, Taiwan, and

overseas operations: 585,111 596,187 (1.86%)

Sub-total 3,935,082 3,568,913 10.26%

Corporate loans

Domestic: RMB 3,244,573 2,910,239 11.49%

Foreign currency 573,882 630,446 (8.97%)

Hong Kong, Macau, Taiwan, and

overseas operations: 906,850 703,698 28.87%

Sub-total 4,725,305 4,244,383 11.33%

Personal loans

Domestic: RMB 1,390,343 1,217,171 14.23%

Foreign currency 896 729 22.91%

Hong Kong, Macau, Taiwan, and

overseas operations: 226,270 198,338 14.08%

Sub-total 1,617,509 1,416,238 14.21%

Commercial Banking Business

Domestic Commercial Banking Business

In 2011, the Bank’s domestic commercial banking business recorded a profi t before income tax of RMB133.196 billion, an increase of RMB19.586 billion or 17.24% compared with the prior year.

The details are set forth below:

Unit: RMB million, except percentages

2011 2010

Items Amount % of total Amount % of total

Corporate banking business 90,176 67.70% 81,628 71.85%

Personal banking business 32,980 24.76% 28,311 24.92%

Treasury operations 10,393 7.80% 3,619 3.19%

Others (353) (0.26%) 52 0.04%

Total profi t before tax 133,196 100.00% 113,610 100.00%

Corporate Banking Business

The Bank pushed forward the transformation of its corporate banking business and expanded its customer base, further optimised its customer and industry mix and constantly improved its service delivery for customers. It maintained a keen focus on product innovation, promoted integration and consolidated its competitive strengths in trade fi nance. As a result, the Bank greatly enhanced the core competitiveness of its corporate banking business. In 2011, the domestic corporate banking business recorded a total profi t of RMB90.176 billion, an increase of RMB8.548 billion or 10.47% compared with the prior year.

Corporate Deposits

The Bank actively boosted its supply chain fi nancing business in key sectors such as the automotive, engineering machinery and steel industries. Focusing on core enterprises and key business projects, the Bank expanded its upstream and downstream deposit base and related idle funds. In addition, the Bank intensifi ed product innovation and process reengineering, and took full advantage of its strengths in cash management, corporate wealth management and trade fi nance. By improving the service systems supporting its tailored products offering, the Bank maintained rapid growth in deposits from administrative institutions. At the same time, the Bank explored new funding sources by seizing opportunities on the fi nancing of corporate bonds and the establishment of fi nancial companies, thus achieving sustainable growth in corporate deposits.

As at the end of 2011, RMB-denominated corporate deposits in the Bank’s domestic operations increased by RMB467.362 billion or 13.85% compared with the prior year-end, representing a market share among all fi nancial institutions (hereafter referred to as “market share”) of 9.51%.

The Bank’s foreign currency-denominated corporate deposits increased by USD3.640 billion, representing a market share of 26.84%. Both market shares have increased compared with the prior year-end.

Corporate Loans

The Bank exerted great effort towards supporting the key regions identifi ed by the state’s economic development plan and assisted in the development of China’s strategic emerging industries, cultural industries, modern agriculture and other key industries. The Bank also achieved robust development in low-carbon fi nance, supporting energy conserving and environmental enterprises as well as new energy projects. It conducted intensifi ed list management of loans granted to LGFVs and the real estate industry, and strictly controlled lending to industries experiencing overcapacity. It enhanced the corporate fi nancial services offering of its outlets through improved marketing and new products and enhanced e-banking services, which led to balanced growth across its large-, medium- and small-sized customer bases. In addition, the Bank accelerated the integrated development of its domestic and overseas operations, growing its base of high-quality overseas corporate customers while continuing to support China’s “Going Global” enterprises. The Bank also maintained its leading position in the Asia-Pacifi c overseas syndicated loan market thanks to on-going improvements to its overseas syndicated loan centre.

The Bank proactively developed its “Green Credit” business, improving measurement standards for environmental and social risk and actively adapting to market volatility in the energy conserving industry. By enhancing support to the green credit business, the Bank’s credit scale increased steadily. As at the end of 2011, the balance of its outstanding green credits was RMB249.4 billion, exceeding the previous year’s balance by RMB22.6 billion.

As at the end of 2011, RMB-denominated corporate loans of the Bank’s domestic operations increased by RMB334.334 billion or 11.49% compared with the prior year-end. The balance of foreign currency-denominated corporate loans was USD91.079 billion, maintaining the Bank’s market leading position. The Bank’s customer structure further improved, with the number of key customers developed by the Head Offi ce and branches increasing to nearly 2,000 and 7,000, respectively. In 2011, the Bank was awarded the “Best Development Bank” and the “Best Trading Bank” for its syndicated loans by the China Banking Association.

Domestic Settlement and Cash Management

The Bank focused its efforts on product innovation and promotion, launching products such as

“Credit on Checks”, “Settlement card for Corporate Customers”, “Bills Pool” and “Bank Bill Acceptance Guaranteed by Margin and Interests”, and promoting a series of domestic settlement services, such as “ Online Capital Verifi cation”, “Agency Service for Central Treasury” and various service solutions for the retail industry. The Bank drew upon its globally integrated, multi-currency diversifi ed business platform to optimise its “BOC Global Cash Management”

service, which provides customers with an integrated global cash management solution including account services, payment and collection, liquidity management, investment and fi nancing management and cross-border cash management. By offering effi cient fund collection and allocation across its domestic and overseas operations, as well as an integrated display of customers’ worldwide bank accounts, the Bank helped customers to improve the effectiveness and effi ciency of their fi nancial management. In 2011, the quality of the Bank’s global cash management platform was widely recognised by the market, receiving such awards as the “Best Contributor to Cash Management Industry in China” and the “Best Cash Management Bank

of 2011” from TreasuryChina, the “Best Cash Management Bank — Most Reliable Bank for Chinese CFOs (2011)” from CFO, and the “Best Liquidity Management Bank Partner” from EuroFinance.

International Settlement and Trade Finance Business

By leveraging the advantages of its group-wide integrated business operations, the Bank accelerated product innovation and enhanced its core competitiveness in trade fi nance. It thus maintained its leading position in the market by achieving a constantly rapid development in trade fi nance business despite a complicated environment and fi erce market competition. The Bank was recognised as the “Best Chinese Trade Finance Bank” by various local and international media, such as The Asset, FinanceAsia, Trade Finance and China Business.

The Bank’s international settlement business also developed steadily and continued to lead the market.

In 2011, the transaction volume of international settlement business conducted by the Group reached USD2.43 trillion, an increase of 23.04%

over the prior year. For domestic institutions, the transaction volume of the Bank’s international settlement business rose by 24.84% and reached

USD1.34 trillion, among which the volume of international trade settlement increased by 27.14%

to USD1.15 trillion, highest among its peers. For overseas institutions, the transaction volume of international settlement business reached USD1.08 trillion, up by 20.87% compared with the prior year.

The Bank made full use of its distinct competitive advantages in the guarantee markets, and continued to maintain its leading position in the factoring market. As at the end of 2011, the balance of RMB-denominated and foreign currency-RMB-denominated letters of guarantee of the Bank’s domestic institutions was RMB383.771 billion and USD61.158 billion, respectively, up by 23.43% and 8.78%

compared with the prior year-end, far ahead of its domestic peers. In 2011, the Bank’s domestic

institutions conducted USD29.598 billion of international factoring business, an increase of 48.29% compared with the prior year. Among this, the volume of “two-factor export factoring”

was USD4.405 billion, leading the world for 46 consecutive months.

Group International Settlement Volume

The Bank also maintained its leading position in the trade fi nance market and achieved substantial growth in its overseas trade fi nance volumes. As at the end of 2011, the balance of foreign currency-denominated trade fi nance conducted by the Bank’s domestic institutions was USD47.227 billion, ranking top among its peers, while the balance of RMB-denominated trade fi nance conducted by the domestic institutions was RMB229.991 billion, up RMB69.090 billion over the prior year-end. The balance of trade fi nance conducted by the Bank’s

overseas institutions (excluding BOCHK) reached USD25.403 billion, up by USD11.522 billion compared with the prior year-end.

The Bank’s brand value was further enhanced through constant innovation in its trade fi nance products. In response to changes in the market situation and in customer demand, the Bank successfully launched innovative products such as accounts receivable pool fi nancing, Export Credit Agency (ECA) factoring, ECA Forfaiting and E-Taxation Guarantee. Moreover, the Bank grasped market opportunities arising from the rapid development of large-scale commodity trading across the world by offering fi nancing solutions to support large-sized commodity trades in the petroleum and non-ferrous metals industries. The Bank developed the innovative business model of “Rong Huo Da + Forward Commodity Hedge against Infl ation”, and successfully launched the standard warehouse receipt pledge fi nancing with a hedging component. The Bank also promoted the application of TSU (Trade Services Utility) globally and established the Forfaiting Centre (Singapore) and the Bulk Commodity Financing Centre (Singapore), so as to provide integrated trade fi nance services for global customers through its network of overseas institutions.

Financial Institutions Business

The Bank strengthened its cooperation with other fi nancial institutions through innovation, experienced a steady growth in its RMB deposits from fi nancial institutions, and led its peers in foreign currency deposits. The Bank’s market share of bancassurance and third-party custodian business continued to rise, while its volume of B-share clearing led the market. The Bank also broke new ground in its cross-border businesses, ranking fi rst in the domestic market in terms of incoming international settlement business volume directed to the Bank by overseas correspondent banks. In addition, overseas correspondent banks from a total of 67 countries and regions have opened 630 cross-border RMB-denominated clearing accounts with the Bank, further consolidating the Bank’s leading position. The Bank vigorously promoted its “China Desk” model, with new China Desks established in the United Arab Emirates (“UAE”) and Chile, in addition to those already in operation in Oman, Peru and Ghana, all providing tailored services to “Going Global” Chinese enterprises. Meanwhile, the Bank signed Memorandums of Understanding with eight banks in Taiwan, actively expanding its businesses in areas such as cross-border RMB trade settlement, syndicated loans, inter-bank lending and QFII. Cooperating with more than 2,600 domestic fi nancial institutions, as well as 1,500 overseas correspondent banks and their Chinese branches and subsidiaries, the Bank continued to lead the market in terms of fi nancial institution customer coverage.

2009 2010 2011

Small Enterprises Business

The Bank earnestly developed its ability to meet the differentiated fi nancial services needs of small-sized enterprises through product innovation and service upgrading. It developed products tailored to the specifi c characteristics of various small enterprises, such as “Zhongguancun Model”, “Ying Shi Tong Bao”, and “Mian Dai Tong Bao”, which are designed to support the high-tech, cultural innovation, and agriculture-related small businesses respectively. The Bank also developed fi nancing products to serve small enterprises based on their industry chain and supply chain. Brand recognition of the “BOC Credit Factory” continued to improve, with the Bank winning the “Outstanding Service Institution among Banks” award and the “Outstanding Service Products among Banks” award at the 2011 International Conference for the Outstanding SME Service Providers. As at the end of 2011, the number of small enterprise loan customers reached 38,600, an increase of 91.07% compared with the prior year-end. The Bank’s outstanding loans to small enterprises increased by 62.34% to RMB388.597 billion from the prior year-end. NPLs amounted to RMB6.982 billion and the NPL ratio was 1.80%, a decrease of 1.00 percentage point compared with the prior year-end.

Investment Banking Business

In 2011, the Bank offered a comprehensive range of investment banking services including debt fi nancing, commercial loans with embedded equity options, asset-backed structured fi nancing and M&A advisory. In addition, the Bank prudently developed its wealth management services and continually transformed its wealth management products, thus improving their profi tability.

By integrating the operations of its domestic and overseas branches and subsidiaries, the Bank managed to assist its key clients in issuing stocks and bonds and completing cross-border Mergers and Acquisitions (M&A) projects. In 2011, the revenue of the Bank’s investment banking business increased by 18.03% from the prior year to RMB24.443 billion. The brand reputation of the Bank’s investment banking business was enhanced further. In 2011, the Bank was awarded with the “Best Financial Advisory Bank”, the “Best M&A Project”, and the “Best Innovation Bank” by the Securities Times.

Pension Business

The Bank committed itself to the development of China’s national social security system and gradually enlarged the scope of its pension business, extending its product offering from corporate pensions to occupational pensions, social security, employee benefi ts planning and other fi elds. As at the end of 2011, the number of pension record-keeping contracts reached 2.8227 million, the capital under custody reached RMB32.901 billion, and the number of clients serviced exceeded 8,500. Newly-opened individual pension accounts reached 1.2101 million with new capital under custody reaching RMB7.773 billion, an increase of 75.70% and 30.93%

compared with the prior year, respectively.

Cross-border RMB business

In 2011, accompanied by the increasing globalisation of RMB, the pilot-runs of cross-border RMB business in Chinese Mainland was broadened to the entire country. Policies for Overseas Direct Investments (“ODI”) and Foreign Direct Investments (“FDI”) by RMB have been initiated in order to set up the RMB globalisation regulatory mechanism in terms of “Trading + Investment + Off-shore Markets”.

Fully taking advantages of its leading position and based on the fundamental cross-border RMB settlement and clearing businesses, the Bank actively promoted the construction of global RMB clearing network meanwhile leveraging the development of on-shore and off-shore business and steadily extending emerging businesses such as ODI and FDI, thus providing versatile products and services of RMB international businesses to clients in China and overseas.

The Bank’s cross-border settlement business maintained leading position in the market.

The Bank’s domestic institutions conducted cross-border RMB settlement of nearly RMB780 billion, accounting for a market share of over 30%. Following the booming growth of off-shore RMB businesses and serving as clearing bank in Hong Kong, BOCHK transacted businesses valuing over RMB1.77 trillion and RMB550 billion as clearing bank and participating bank respectively, while the Bank’s other overseas institutions handled more than RMB420 billion of businesses. The Bank’s domestic institutions handled cross-border RMB settlement for tens of thousands of customers from over 100 countries and regions across telecom equipments, electronic products, transportation, chemical, manufacturing, wholesale and retail industries.

The Bank’s global clearing network started to form. Through its domestic correspondent banks, Hong Kong and Macau clearing banks and overseas secondary clearing banks, the Bank had opened over 600 cross-border RMB clearing accounts for overseas participating banks from Asia, Europe, America, Oceania and Africa and established global clearing network preliminarily.

The underwriting and investment of RMB-denominated bonds has been growing rapidly.

Choosing Hong Kong as business platform, the Bank engaged in 18 underwritings of RMB-denominated bonds in Hong Kong market, which amounted to RMB26.5 billion and accounting for 26% of market share. Hong Kong and Macau branch actively carried out the domestic RMB-denominated bond investment.

Products and services of overseas RMB related business kept fl ourishing. The Bank is enlarging its cash business from Asia-Pacifi c to the larger overseas areas with its RMB cash wholesaling business doubled in volume. BOCHK and the Bank’s branches and subsidiaries in Macau, Sydney, Malaysia, etc. have been actively promoting the RMB credit card business with active credit cards issued reaching 45,000 by the end of 2011.

In the future, the globalisation of RMB business faces unique historical opportunities of development. The Bank will take full advantage of RMB clearing as main channel to effectively boost the all-around development of overseas RMB related businesses as clearing, exchanging, depositing, lending and treasury markets operation.

Personal Banking Business

The Bank grasped the opportunity of rapid growth in personal wealth in China by enlarging its customer base, with the focus on middle and high-end customers, and strengthening the innovation of its products and services. It deepened business transformation and channel construction and increased efforts in cross-border development, leading to signifi cant improvement in the Bank’s competitive position and steady growth in operating results. In 2011, the Bank’s domestic personal banking business realised a profi t before income tax of RMB32.980 billion, an increase of RMB4.669 billion or 16.49% compared with the prior year.

Personal Deposits

The Bank strengthened product innovation efforts in its deposits business so as to meet the diverse needs of its customers. The Bank comprehensively promoted the MoneyGram remittance business and extended coverage of its deposit account SMS notifi cation service. By actively exploring the market in central and western China and cultivating new business growth areas, the Bank promoted the sustainable development of personal deposits. Together, this achieved further growth in the Bank’s personal deposits business. As at the end of 2011, the number of domestic effective customers grew 17.10% to 153 million, the highest growth rate of recent years. The balance of RMB personal deposits amounted to RMB3,165.161 billion, an increase of RMB389.610 billion or 14.04% compared with the prior year. The balance of foreign currency personal deposits amounted to USD29.331 billion, maintaining the Bank’s leading position among peers.

Personal Loans

The Bank actively implemented the Chinese government’s macro-economic regulatory policies, strictly carried out differentiated housing loans policy and assisted residents in purchasing their fi rst houses for own use. The Bank maintained its personal housing loans business at a steady level. It strived to consolidate its leading position in secondary residential mortgage loans, personal auto loans and sponsored student loans, and emphasised innovative products such as personal loans for commercial premises, personal business loans (including “Yi Nong Dai”) and personal loans for studying abroad. By deeply exploring potential customer demand and constantly accelerating innovation, the Bank signifi cantly enhanced its customer service

The Bank actively implemented the Chinese government’s macro-economic regulatory policies, strictly carried out differentiated housing loans policy and assisted residents in purchasing their fi rst houses for own use. The Bank maintained its personal housing loans business at a steady level. It strived to consolidate its leading position in secondary residential mortgage loans, personal auto loans and sponsored student loans, and emphasised innovative products such as personal loans for commercial premises, personal business loans (including “Yi Nong Dai”) and personal loans for studying abroad. By deeply exploring potential customer demand and constantly accelerating innovation, the Bank signifi cantly enhanced its customer service

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