Far Eastern International Bank Ltd. and Subsidiaries
Consolidated Financial Statements for the
Three Months Ended March 31, 2022 and 2021 and Independent Auditors' Review Report
The engagement partners on the reviews resulting in this independent auditors' review report are Chun-Hung Chen and Yin-Chou Chen.
Deloitte & Touche
Taipei, Taiwan
Republic of China
May 5, 2022
Notice to Readers
The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to review such consolidated financial statements are those generally applied in the Republic of China.
For the convenience of readers, the independent auditors' review report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors' review report and consolidated financial statements shall prevail.
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FAR EASTERN INTERNATIONAL BANK LTD. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (In Thousands of New Taiwan Dollars)
March 31, 2022 | December 31, 2021 | March 31, 2021 | ||||||||||||||||||
ASSETS | (Reviewed) | (Audited) | (Reviewed) | |||||||||||||||||
Amount | % | Amount | % | Amount | % | |||||||||||||||
ASSETS | ||||||||||||||||||||
Cash and cash equivalents (Note 6) | $ | 4,486,164 | 1 | $ | 5,017,087 | 1 | $ | 7,953,001 | 1 | |||||||||||
Due from the Central Bank and other banks (Notes 7 and 39) | 39,843,279 | 6 | 45,873,426 | 6 | 29,551,718 | 4 | ||||||||||||||
Financial assets at fair value through profit or loss (Notes 8, 38 and 42) | 43,378,449 | 6 | 37,662,767 | 5 | 30,719,766 | 5 | ||||||||||||||
Financial assets at fair value through other comprehensive income (Notes 9, 11, | ||||||||||||||||||||
21, 28, 39, 42 and 43) | 106,134,927 | 15 | 113,429,715 | 16 | 172,956,759 | 25 | ||||||||||||||
Investment in debt instruments at amortized cost, net (Notes 10, 11 and 42) | 68,136,263 | 9 | 71,374,127 | 10 | 1,079,378 | - | ||||||||||||||
Securities purchased under resale agreements, net (Note 12) | 2,600,390 | - | 5,888,595 | 1 | 4,576,603 | 1 | ||||||||||||||
Receivables, net (Notes 13 and 43) | 19,414,935 | 3 | 24,331,835 | 3 | 21,263,593 | 3 | ||||||||||||||
Discounts and loans, net (Notes 14, 38 and 43) | 430,600,738 | 59 | 407,441,765 | 56 | 399,378,692 | 59 | ||||||||||||||
Investment accounted for using equity method (Notes 15 and 28) | 1,935,816 | - | 1,970,175 | - | 1,927,485 | - | ||||||||||||||
Other financial assets, net (Notes 16 and 39) | 6,360,047 | 1 | 3,971,314 | 1 | 4,424,089 | 1 | ||||||||||||||
Property and equipment, net (Notes 17 and 38) | 2,992,792 | - | 2,984,077 | 1 | 2,984,193 | 1 | ||||||||||||||
Right-of-use assets, net (Notes 18 and 38) | 1,105,059 | - | 1,018,720 | - | 1,058,893 | - | ||||||||||||||
Intangible assets, net (Note 19) | 1,616,783 | - | 1,623,153 | - | 1,642,265 | - | ||||||||||||||
Deferred tax assets (Notes 4 and 36) | 227,485 | - | 209,623 | - | 183,030 | - | ||||||||||||||
Other assets | 277,646 | - | 258,134 | - | 313,318 | - | ||||||||||||||
TOTAL | $ | 729,110,773 | 100 | $ | 723,054,513 | 100 | $ | 680,012,783 | 100 | |||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||
Due to the Central Bank and other banks (Notes 20 and 43) | $ | 3,026,023 | - | $ | 1,791,820 | - | $ | 621,953 | - | |||||||||||
Funds borrowed from the Central Bank and other banks (Notes 43 and 45) | 90,040 | - | 77,240 | - | 24,140 | - | ||||||||||||||
Financial liabilities at fair value through profit or loss (Notes 8, 38 and 42) | 8,366,911 | 1 | 3,002,289 | 1 | 4,091,990 | 1 | ||||||||||||||
Securities sold under repurchase agreements (Notes 9, 21, 43 and 45) | - | - | 4,959 | - | 3,402,084 | 1 | ||||||||||||||
Payables (Notes 22 and 43) | 4,173,438 | 1 | 5,564,647 | 1 | 6,144,047 | 1 | ||||||||||||||
Current tax liabilities (Note 4) | 259,670 | - | 175,662 | - | 245,488 | - | ||||||||||||||
Deposits and remittances (Notes 23, 38 and 43) | 608,351,864 | 84 | 612,106,685 | 85 | 568,807,056 | 84 | ||||||||||||||
Bank debentures (Notes 24, 42, 43 and 45) | 23,901,900 | 3 | 23,901,900 | 3 | 22,601,900 | 3 | ||||||||||||||
Principal received on structured products (Note 43) | 27,655,577 | 4 | 23,050,606 | 3 | 20,347,863 | 3 | ||||||||||||||
Other financial liabilities (Notes 25, 43 and 45) | 973,036 | - | 979,213 | - | 1,581,573 | - | ||||||||||||||
Provisions (Notes 26 and 38) | 958,278 | - | 1,056,482 | - | 1,009,678 | - | ||||||||||||||
Lease liabilities (Notes 18, 38, 43 and 45) | 1,104,547 | - | 1,026,881 | - | 1,065,412 | - | ||||||||||||||
Other liabilities | 525,917 | - | 614,178 | - | 622,494 | - | ||||||||||||||
Total liabilities | 679,387,201 | 93 | 673,352,562 | 93 | 630,565,678 | 93 | ||||||||||||||
EQUITY ATTRIBUTABLE TO OWNERS OF THE BANK (Notes 9, 15 and 28) | ||||||||||||||||||||
Share capital | 35,139,632 | 5 | 35,139,632 | 5 | 34,481,044 | 5 | ||||||||||||||
Capital surplus | 456,426 | - | 456,426 | - | 456,426 | - | ||||||||||||||
Retained earnings | ||||||||||||||||||||
Legal reserve | 10,294,866 | 1 | 10,294,866 | 1 | 9,547,845 | 1 | ||||||||||||||
Special reserve | 5,922 | - | 5,922 | - | 23,543 | - | ||||||||||||||
Unappropriated earnings | 4,446,975 | 1 | 3,786,263 | 1 | 4,039,915 | 1 | ||||||||||||||
Total retained earnings | 14,747,763 | 2 | 14,087,051 | 2 | 13,611,303 | 2 | ||||||||||||||
Other equity | (620,249) | - | 18,842 | - | 898,332 | - | ||||||||||||||
Total equity | 49,723,572 | 7 | 49,701,951 | 7 | 49,447,105 | 7 | ||||||||||||||
TOTAL | $ | 729,110,773 | 100 | $ | 723,054,513 | 100 | $ | 680,012,783 | 100 | |||||||||||
The accompanying notes are an integral part of the consolidated financial statements.
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FAR EASTERN INTERNATIONAL BANK LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share) (Reviewed, Not Audited)
Percentage | ||||||||||||
For the Three Months Ended March 31 | Increase | |||||||||||
2022 | 2021 | (Decrease) | ||||||||||
Amount | % | Amount | % | % | ||||||||
INTEREST REVENUES (Notes 29 | ||||||||||||
and 38) | $ 2,352,930 | 93 | $ 2,342,201 | 83 | - | |||||||
INTEREST EXPENSES (Notes 18, 29 | ||||||||||||
and 38) | 729,904 | 29 | 782,948 | 28 | (7) | |||||||
NET INTERESTS | 1,623,026 | 64 | 1,559,253 | 55 | 4 | |||||||
NET REVENUES AND GAINS OTHER | ||||||||||||
THAN INTEREST | ||||||||||||
Net service fee income (Notes 30 | ||||||||||||
and 38) | 666,685 | 26 | 896,836 | 32 | (26) | |||||||
Gain on financial assets and liabilities | ||||||||||||
at fair value through profit or loss | ||||||||||||
(Notes 31, 38 and 42) | 105,722 | 4 | 285,865 | 10 | (63) | |||||||
Realized loss on financial assets at fair | ||||||||||||
value through other comprehensive | ||||||||||||
income (Notes 9 and 28) | (3,343) | - | (18,132) | - | 82 | |||||||
Net foreign exchange gain | 67,022 | 3 | 1,105 | - | 5,965 | |||||||
Shares of profit of associates for using | ||||||||||||
equity method (Note 15) | 31,207 | 1 | 38,220 | 1 | (18) | |||||||
Others | 55,816 | 2 | 66,372 | 2 | (16) | |||||||
Total net revenues and gains | ||||||||||||
other than interest | 923,109 | 36 | 1,270,266 | 45 | (27) | |||||||
NET REVENUES | 2,546,135 | 100 | 2,829,519 | 100 | (10) | |||||||
NET PROVISION FOR LOSS ON BAD | ||||||||||||
DEBTS EXPENSE, COMMITMENT | ||||||||||||
AND GUARANTEE (Notes 13, 14, | ||||||||||||
16, 26 and 38) | 207,087 | 8 | 134,241 | 5 | 54 | |||||||
OPERATING EXPENSES | ||||||||||||
Employee benefits expense (Notes 27, | ||||||||||||
32, 33 and 38) | 981,639 | 38 | 1,062,458 | 38 | (8) | |||||||
Depreciation and amortization | ||||||||||||
(Notes 17, 18, 19 and 34) | 179,505 | 7 | 178,970 | 6 | - | |||||||
Other general and administrative | ||||||||||||
expenses (Notes 18, 35 and 38) | 427,052 | 17 | 532,281 | 19 | (20) | |||||||
Total operating expenses | 1,588,196 | 62 | 1,773,709 | 63 | (10) | |||||||
(Continued) |
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Far Eastern International Bank published this content on 05 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2022 10:33:05 UTC.