POSTAL SAVINGS BANK OF CHINA CO., LTD. 中國郵政儲蓄銀行股份有限公司

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1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. POSTAL SAVINGS BANK OF CHINA CO., LTD. 中國郵政儲蓄銀行股份有限公司 (A joint stock limited liability company incorporated in the People s Republic of China) (Stock Code: 1658) (Stock Code of Preference Shares: 4612) Postal Savings Bank of China Co., Ltd. Third Quarterly Report of The Board of Directors (the Board of Directors ) of Postal Savings Bank of China Co., Ltd. (the Bank ) hereby announces the results of the Bank and its subsidiaries (collectively, the Group ) for the nine months. This announcement is made pursuant to Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. 1. IMPORTANT NOTICE 1.1 The Board of Directors, the Board of Supervisors, directors, supervisors and members of the senior management of the Bank undertake that the information in this quarterly report contains no false record, misleading statement or material omission; and assume individual and joint and several liabilities for the authenticity, accuracy and completeness of the information in this quarterly report. 1.2 The Third Quarterly Report of has been considered and approved at the meeting of the Board of Directors of the Bank held on October 30,. There were 14 directors eligible for attending the meeting, among whom 13 att in person, and 1 att by proxy. Director Ms. Yao Hong appointed Director Mr. Zhang Xuewen to attend the meeting and vote on her behalf. 1.3 These quarterly financial statements have not been audited. 1.4 Mr. Lyu Jiajin (1), Legal Representative and President in charge of finance of the Bank, and Mr. Liu Yucheng, General Manager of the Financial Management Department of the Bank, hereby represent and warrant that the financial statements contained in this quarterly report are true, accurate and complete. (1) Mr. Li Guohua resigned from the position of Chairman and Legal Representative of the Bank due to change of job, with effect from August 17,. As approved by the Board of Directors, Mr. Lyu Jiajin, President and an executive Director of the Bank, has started to perform the duties of Chairman and Legal Representative of the Bank since August 17,

2 2. CORPORATE INFORMATION 2.1 Basic information Stock name Stock code Stock exchange on which shares are listed H Shares PSBC 1658 The Stock Exchange of Hong Kong Limited Offshore Preference Shares PSBC 17USDPREF 4612 The Stock Exchange of Hong Kong Limited Board Secretary and Company Secretary: Name Du Chunye Correspondence Address No. 3 Financial Street, Xicheng District, Beijing (Postcode: ) Telephone Fax ir@psbc.com 2.2 Major accounting data and financial indicators Financial information set out in this quarterly report has been prepared in accordance with the IFRS. Unless otherwise specified, it is the data of the Group, and is presented in RMB. (Expressed in millions of RMB, unless otherwise stated) As at As at December 31, (Audited) Changes as compared to the end of the previous year (%) Total assets 9,350,857 9,012, Total loans and advances to customers 4,158,092 3,630, Allowance for impairment on loans 113,333 88, Total liabilities 8,880,921 8,581, Customer deposits 8,349,929 8,062, Equity attributable to shareholders of the Bank 469, ,

3 (Expressed in millions of RMB, unless otherwise stated) Changes as compared to the same period of the previous year (%) Operating income 196, , Net profit 46,717 40, Net profit attributable to shareholders of the Bank 46,710 40, Net cash flows from operating activities 76,388 (440,688) Basic earnings per share (RMB) (1) Diluted earnings per share (RMB) (1) Return on weighted average net A decrease of assets (%, annualized) (1) 0.23 percentage point (1) Without the deduction of non-recurring gains and losses

4 2.3 Number of ordinary shareholders and shareholdings As of the end of the reporting period, the Bank s total ordinary shareholders amounted to 2,985. Among them, there were 2,980 H shareholders and 5 domestic shareholders. The top 10 ordinary shareholders are as follows: Shareholders Class of shares Number of shares held (share) Percentage of shares held (%) China Post Group Corporation (3) Domestic Shares 55,847,933, HKSCC Nominees Limited (2) H Shares (1) 15,302,048, UBS AG H Shares (1) 3,423,340, China Life Insurance Company Limited (3) Domestic Shares 3,341,900, China Telecommunications Corporation (3) Domestic Shares 1,117,223, Zhejiang Ant Small and Micro Financial Services Group Co., Ltd. Domestic Shares 738,820, JPMorgan China Investment Company II Limited H Shares (1) 642,670, International Finance Corporation H Shares (1) 474,290, Shenzhen Tencent Domain Computer Network Company Limited Domestic Shares 128,530, LI KIU H Shares (1) 207, Notes: (1) The shareholdings of H shareholders are based on the number of shares listed in the register of shareholders of the Bank set up by the H Share Registrar. (2) The total number of shares held by HKSCC Nominees Limited is the total number of H shares held by all institutions and individual investors registered with the company as of. (3) Indicates the state-owned shareholders

5 2.4 Number of offshore preference shareholders and shareholdings As of the end of the reporting period, the total number of offshore preference shareholders (or nominees) of the Bank was 1. Top 10 offshore preference shareholders (or nominees) of the Bank are as follows: Name of shareholders The Bank of New York Depository (Nominees) Limited Nature of shareholders Foreign legal person Class of shares Increase or decrease during the reporting period (share) The amount of shares held at the end of the period (share) Shareholding percentage (%) Number of shares subject to selling restrictions (share) Number of shares pledged or locked-up (share) Offshore preference shares 362,500, Unknown Notes: (1) The shareholdings of offshore preference shareholders are based on the information listed in the register of offshore preference shareholders of the Bank. (2) As the issuance of overseas preference shares was non-public, the register of offshore preference shareholders presented the information on nominees of placees. (3) Shareholding percentage refers to the percentage of the number of offshore preference shares held by offshore preference shareholders to the total number of offshore preference shares. 3. BRIEF ANALYSIS ON OVERALL OPERATING ACTIVITIES IN THE THIRD QUARTER Financial Results For the nine months, the net profit of the Group amounted to RMB46,717 million, representing an increase of 15.36% as compared to the corresponding period of the previous year. Annualized return on average total assets was 0.68% and annualized return on weighted average net assets was 14.60%. For the nine months, the operating income of the Group amounted to RMB196,523 million, representing an increase of 21.80% as compared to the corresponding period of the previous year. Net interest income was RMB173,817 million, representing an increase of 27.30% as compared to the corresponding period of the previous year. Net interest spread was 2.66%, representing an increase of 21 basis points as compared to the corresponding period of the previous year. Net interest margin was 2.67%, representing an increase of 30 basis points as compared to the corresponding period of the previous year. Net fee and commission income amounted to RMB11,310 million, representing an increase of 9.78% as compared to the corresponding period of the previous year. Cost-to-income ratio was 55.33%, representing a decrease of 5.56 percentage points as compared to the corresponding period of the previous year

6 Assets and Liabilities As of, the total assets of the Group amounted to RMB9,350,857 million, representing an increase of RMB338,306 million or 3.75% as compared to the end of the previous year. Total loans and advances to customers amounted to RMB4,158,092 million, representing an increase of RMB527,957 million or 14.54% as compared to the end of the previous year, of which corporate loans were RMB1,566,601 million, discounted bills were RMB335,895 million and personal loans were RMB2,255,596 million. Total liabilities amounted to RMB8,880,921 million, representing an increase of RMB299,727 million or 3.49% as compared to the end of the previous year. Customer deposits amounted to RMB8,349,929 million, representing an increase of RMB287,270 million or 3.56% as compared to the end of the previous year, of which corporate deposits were RMB1,188,830 million, personal deposits of RMB7,159,644 million and other deposits of RMB1,455 million. Shareholders equity in aggregate amounted to RMB469,936 million, representing an increase of RMB38,579 million or 8.94% as compared to the end of the previous year. Asset Quality and Capital Adequacy As of, according to the five-category classification of loans, the balance of non-performing loans of the Group was RMB36,569 million, the non-performing loan ratio was 0.88%, and the allowance coverage ratio was %. As of, the core tier-1 capital adequacy ratio was 9.70%, tier-1 capital adequacy ratio was 10.81%, and capital adequacy ratio was 13.71%, all meeting regulatory requirements. 4. APPENDICES 4.1 Financial statements prepared based on IFRS are attached in Appendix I to this report 4.2 Disclosures of capital adequacy ratios, leverage ratio and liquidity coverage ratio are attached in Appendix II to this report - 6 -

7 5. RELEASE OF QUARTERLY REPORT This report will be published simultaneously on the HKExnews website of The Stock Exchange of Hong Kong Limited ( and the website of the Bank ( By order of the Board of Directors Postal Savings Bank of China Co., Ltd. Du Chunye Joint Company Secretary Beijing, PRC October 30, As at the date of this announcement, the Board of Directors comprises Mr. Lyu Jiajin, Mr. Zhang Xuewen and Ms. Yao Hong as executive Directors; Mr. Han Wenbo, Mr. Tang Jian, Mr. Liu Yaogong, Mr. Chin Hung I David, Mr. Liu Yue and Mr. Ding Xiangming as non-executive Directors; Mr. Ma Weihua, Ms. Bi Zhonghua, Mr. Fu Tingmei, Mr. Gan Peizhong and Mr. Hu Xiang as independent non-executive Directors. * Postal Savings Bank of China Co., Ltd. is not an authorized institution within the meaning of the Banking Ordinance (Chapter 155 of the Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorized to carry on banking and/or deposit-taking business in Hong Kong

8 APPENDIX I FINANCIAL STATEMENTS PREPARED BASED ON IFRS CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (All amounts in millions of RMB unless otherwise stated) Interest income 266, ,726 Interest expense (93,138) (87,187) Net interest income 173, ,539 Fee and commission income 22,566 17,411 Fee and commission expense (11,256) (7,109) Net fee and commission income 11,310 10,302 Net trading gains 4,538 1,653 Net gains on investment securities 3,165 12,249 Net other operating gains 3, Operating income 196, ,345 Operating expenses (110,100) (99,484) Impairment losses on assets (35,944) (16,077) Profit before income tax 50,479 45,784 Income tax expenses (3,762) (5,289) Net profit 46,717 40,495 Net profit attributable to: Shareholders of the Bank 46,710 40,469 Non-controlling interests 7 26 Other comprehensive income Items that will not be reclassified to profit or loss Remeasurement of losses on retirement benefit obligations (85) (41) - 8 -

9 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (CONT D) (All amounts in millions of RMB unless otherwise stated) Items that may be reclassified subsequently to profit or loss Net losses on investments in available-for-sale financial assets N/A (2,972) Net gains on investments in financial assets at fair value through other comprehensive income 4,354 N/A Subtotal 4,269 (3,013) Total comprehensive income for the period 50,986 37,482 Total comprehensive income attributable to: Shareholders of the Bank 50,979 37,456 Non-controlling interests 7 26 Basic and diluted earnings per share of shareholders of the Bank (in RMB Yuan) Basic/Diluted

10 CONSOLIDATED STATEMENT OF FINANCIAL POSITION (All amounts in millions of RMB unless otherwise stated) As at As at December 31, (Audited) Assets Cash and deposits with central bank 1,246,178 1,411,962 Deposits with banks and other financial institutions 239, ,758 Placements with banks and other financial institutions 275, ,999 Derivative financial assets 7,391 6,584 Financial assets held under resale agreements 201, ,974 Loans and advances to customers 4,044,759 3,541,571 Investment instruments Financial assets at fair value through profit or loss 283, ,992 Financial assets at fair value through other comprehensive income 171,485 N/A Financial assets at amortized cost 2,730,829 N/A Available-for-sale financial assets N/A 686,748 Held-to-maturity investments N/A 935,735 Investment classified as receivables N/A 1,424,558 Property and equipment 44,101 43,804 Deferred tax assets 32,212 22,258 Other assets 74,937 64,608 Total assets 9,350,857 9,012,551 Liabilities Deposits from banks and other financial institutions 59,101 48,454 Placements from banks and other financial institutions 74,895 73,617 Financial liabilities at fair value through profit or loss 5,595 42,193 Derivative financial liabilities 7,053 6,616 Financial assets sold under repurchase agreements 135, ,143 Customer deposits 8,349,929 8,062,659 Debt securities issued 76,926 74,932 Other liabilities 171, ,580 Total liabilities 8,880,921 8,581,

11 CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONT D) (All amounts in millions of RMB unless otherwise stated) As at As at December 31, (Audited) Equity Share capital 81,031 81,031 Other equity instruments 47,869 47,846 Capital reserve 74,648 74,659 Other reserves 130, ,126 Retained earnings 135, ,311 Equity attributable to shareholders of the Bank 469, ,973 Non-controlling interests Total equity 469, ,357 Total liabilities and equity 9,350,857 9,012,

12 CONSOLIDATED STATEMENT OF CASH FLOWS (All amounts in millions of RMB unless otherwise stated) Cash flows from operating activities Profit before income tax 50,479 45,784 Adjustment for: Amortization of intangible assets and other assets Depreciation of property and equipment and investment properties 2,707 2,556 Impairment losses on assets 35,944 16,077 Interest income arising from investment instruments (81,083) (138,733) Interest expense arising from debt securities issued 2,288 2,055 Net gains on investment securities (2,986) (12,249) Unrealized exchange (gains)/loss (3,000) 1,524 Net losses from disposal of property, equipment and other assets 9 9 Subtotal 4,991 (82,187) Net changes in operating assets Net decrease/(increase) in deposits with central bank 157,039 (105,806) Net decrease/(increase) in deposits with banks and other financial institutions 57,840 (83,817) Net decrease/(increase) in placements with banks and other financial institutions 17,098 (8,303) Net decrease/(increase) in financial assets at fair value through profit or loss 123,872 (53,478) Net increase in financial assets held under resale agreements (19,771) (3,978) Net increase in loans and advances to customers (528,532) (492,884) Net increase in other operating assets (19,415) (2,375) Subtotal (211,869) (750,641) Net changes in operating liabilities Net increase/(decrease) in deposits from banks and other financial institutions 10,647 (243,855) Net increase in placements from banks and other financial institutions 1,278 20,678 Net (decrease)/increase in financial liabilities at fair value through profit or loss (36,598) 21,723 Net increase/(decrease) in financial assets sold under repurchase agreements 20,292 (29,547) Net increase in customer deposits 287, ,122 Net increase in other operating liabilities 7,921 1,287 Subtotal 290, ,

13 CONSOLIDATED STATEMENT OF CASH FLOWS (CONT D) (All amounts in millions of RMB unless otherwise stated) Cash generated from/(used in) operating activities 83,932 (435,420) Income tax paid (7,544) (5,268) Net cash generated from/(used in) operating activities 76,388 (440,688) Net cash flows from operating activities include: Interest received 182,977 84,032 Interest paid (93,278) (92,364) Cash flows from investing activities Cash received from disposal of investment instruments 571,353 1,036,920 Cash received from income arising from investment instruments 94, ,955 Cash paid for purchase of investment instruments (718,092) (763,322) Cash paid for purchase of property, equipment, intangible assets and other long-term assets (3,785) (4,433) Cash received from disposal of property and equipment, intangible assets and other long-term assets Net cash (used in)/generated from investing activities (55,566) 415,288 Cash flows from financing activities Cash received from issuing shares - 47,846 Capital received from non-controlling interests for investment in subsidiary Dividend paid (14,311) (5,972) Interests paid on debt securities issued (2,056) (1,130) Cash received from issuing debt securities 7,744 20,485 Repayments of debt securities (5,750) (500) Cash paid relating to other financing activities - (3) Net cash (used in)/generated from financing activities (13,873) 60,726 Net increase in cash and cash equivalents 6,949 35,326 Balance of cash and cash equivalents at beginning of period 322, ,893 Effect of foreign exchange rate changes 1,623 (2,475) Balance of cash and cash equivalents at the end of period 331, ,744

14 APPENDIX II DISCLOSURES OF CAPITAL ADEQUACY RATIOS, LEVERAGE RATIO AND LIQUIDITY COVERAGE RATIO 1. CAPITAL ADEQUACY RATIO TABLE In millions of RMB, except percentages December 31, Item The Group The Bank The Group The Bank Calculated in accordance with the Regulation Governing Capital of Commercial Banks (Provisional) promulgated by China Banking Regulatory Commission: Net core tier-1 capital 416, , , ,800 Net tier-1 capital 464, , , ,646 Net capital 588, , , ,400 Core tier-1 capital adequacy ratio (%) Tier-1 capital adequacy ratio (%) Capital adequacy ratio (%) LEVERAGE RATIO TABLE In millions of RMB, except percentages Item June 30, March 31, December 31, Net tier-1 capital 464, , , ,560 Ad justed asset balance on and off the balance sheet 9,788,145 9,688,986 9,547,417 9,444,741 Leverage ratio (%) LIQUIDITY COVERAGE RATIO TABLE In millions of RMB, except percentages Item December 31, Qualified quality liquid assets 1,511,168 1,272,410 Net cash outflow for the next 30 days 784, ,748 Liquidity coverage ratio (%)