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.