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Annual Report of the Year of 1998
| Audit Report PBC (99) NO.120 To the ICBC: We have audited the Balance Sheet of the ICBC and the related profit and loss Statements for the year on December 31,1998. ICBC is liable for the financial statements. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with Chinese Certificate Public Accountant Independent Auditing Standards. During the process, we performed the audit procedure according to your specific conditions. In our opinion, the above financial statements are in accordance with Enterprise Accounting Principle, Financial Enterprise Accounting Institution and other regulations about financial accounting. The financial statements reflected fairly, in all important respects, the result of operation in 1998 and accounting disposal adopted unity principle Zhongyin CPA China Certified Public Accountants China Beijing Ding Sanli Ju Enqi March 18, 1999 Back to home |
Balance Sheet of ICBC
| December31,1998 |
Units: RMB 100 million Yuan
|
| Assets |
1997 |
1998 |
| Cash |
234.59 |
249.52 |
| Deposits in the Central Bank |
4,792.77 |
3,506.72 |
| Due from banks |
974.3 |
745.78 |
| Inter-bank loan |
168.73 |
240.95 |
| Loans |
19,950.56 |
22,715.39 |
| Short term |
15,885.09 |
17,949.43 |
| Medium and long term |
4,065.47 |
4,765.96 |
| minus: Bad debt reserves |
78.56 |
79.16 |
| Security investments |
1,179.71 |
2,735.52 |
| Short term |
|
|
| Medium and long term |
1,179.71 |
2,735.52 |
| minus: Investment risk reserves |
0.88 |
0.82 |
| Fixed assets |
543.85 |
601.1 |
| Minus: Cumulative discount |
143.63 |
154.88 |
| Other assets |
1,746.41 |
1,827.26 |
| Total assets |
29,367.85 |
32,387.38 |
| Liabilities |
1997 |
1998 |
| Deposits |
22,510.50 |
26,317.68 |
| Short term |
9,948.86 |
11,725.70 |
| Long-term |
12,561.64 |
14,591.98 |
| Due to and from banks |
1,564.21 |
1,976.15 |
| Inter-bank loan |
148.34 |
114.96 |
| Loans |
1,780.12 |
407.62 |
| Bonds |
9.91 |
1.02 |
| Short term |
|
|
| Long-term |
9.91 |
1.02 |
| Other liabilities |
2,386.21 |
1,731.02 |
| Owner's equity |
968.56 |
1,838.93 |
| Paid-up capital |
860.24 |
1,714.22 |
| Capital accumulation |
4.16 |
9.87 |
| Surplus accumulation |
68.43 |
82 |
| Retained profit |
35.73 |
32.84 |
| Total Liabilities and owner's equity |
29,367.85 |
32,387.38 |
The profit and loss statement of Industrial and Commercial Bank of China
| Items |
Total amount of this year
|
| I. Operating income |
1,808.27
|
| Interests income |
1,497.09
|
| Incomes between financial enterprises |
287.08
|
| Procedure Fees |
14.51
|
| Exchange incomes |
6.15
|
| Other Operating income |
3.44
|
| II. Operating expenditures |
1,771.99
|
| Interests expenditures |
996.51
|
| Expenditures between financial enterprises |
225.42
|
| Procedure expenditure |
41.49
|
| Operating expenditure |
317.99
|
| Exchange loss |
0.4
|
| Other Operating expenditures |
190.18
|
| III. Operating tax and additional tax |
130.37
|
| IV. Operating profits |
-94.09
|
| plus:Investment incomes |
137.22
|
| plus:Non-operating incomes |
4.08
|
| minus:Non-operating expenditures |
12.69
|
| V. Total profits |
34.52
|
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