Annual Report 2012

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12 INDEPENDENT AUDITOR’S REPORTTo the shareholders of China Construction Bank Corporation(a joint stock company incorporated in the People’s Republic of China with limited liability)We have audited the consolidated financial statements of China Construction Bank Corporation (the “Bank”) and its subsidiaries (together, the“Group”) set out on pages 92 to 208, which comprise the consolidated and Bank statements of financial position as at 31 December 2012,and the consolidated statement of comprehensive income, the consolidated and Bank statements of changes in equity and the consolidatedstatement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.Directors’ Responsibility for the Consolidated Financial StatementsThe directors of the Bank are responsible for the preparation of consolidated financial statements that give a true and fair view in accordance withInternational Financial Reporting Standards issued by the International Accounting Standards Board and the disclosure requirements of the HongKong Companies Ordinance, and for such internal control as the directors determine is necessary to enable the preparation of consolidatedfinancial statements that are free from material misstatement, whether due to fraud or error.Auditor’s ResponsibilityOur responsibility is to express an opinion on these consolidated financial statements based on our audit and to report our opinion solely to you,as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of thisreport.We conducted our audit in accordance with Hong Kong Standards on Auditing issued by the Hong Kong Institute of Certified PublicAccountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the consolidated financial statements are free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements.The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the consolidatedfinancial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to theentity’s preparation of consolidated financial statements that give a true and fair view in order to design audit procedures that are appropriate inthe circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well asevaluating the overall presentation of the consolidated financial statements.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.OpinionIn our opinion, the consolidated financial statements give a true and fair view of the state of affairs of the Bank and of the Group as at 31December 2012, and of the Group’s financial performance and cash flows for the year then ended in accordance with International FinancialReporting Standards and have been properly prepared in accordance with the disclosure requirements of the Hong Kong Companies Ordinance.PricewaterhouseCoopersCertified Public AccountantsHong Kong, 22 March 2013China Construction Bank Corporation annual report 201291
Consolidated statement of comprehensive incomeFor the year ended 31 December 2012(Expressed in millions of RMB, unless otherwise stated)Note 2012 2011Interest income 603,241 482,247Interest expense (250,039) (177,675)Net interest income 6 353,202 304,572Fee and commission income 96,218 89,494Fee and commission expense (2,711) (2,500)Net fee and commission income 7 93,507 86,994Net trading gain 8 1,863 388Dividend income 9 239 158Net gain arising from investment securities 10 3,536 1,756Other operating income, net 11 10,186 5,535Operating income 462,533 399,403Operating expenses 12 (171,081) (144,537)291,452 254,866Impairment losses on:– Loans and advances to customers (38,330) (32,403)– Others (1,711) (3,380)Impairment losses 13 (40,041) (35,783)Share of profits less losses of associates and jointly controlled entities 28 24Profit before tax 251,439 219,107Income tax expense 16 (57,837) (49,668)Net profit 193,602 169,439Other comprehensive income:Loss of available-for-sale financial assets arising during the year (2,597) (966)Less: Income tax relating to available-for-sale financial assets 636 318Reclassification adjustments for (loss)/gain included in profit or loss (1,381) 265(3,342) (383)Exchange difference on translating foreign operations (201) (1,577)Others 32 42Other comprehensive income for the year, net of tax (3,511) (1,918)Total comprehensive income for the year 190,091 167,521Net profit attributable to:Equity shareholders of the Bank 193,179 169,258Non-controlling interests 423 181193,602 169,439Total comprehensive income attributable to:Equity shareholders of the Bank 189,648 167,401Non-controlling interests 443 120190,091 167,521Basic and diluted earnings per share (in RMB Yuan) 17 0.77 0.68The notes on pages 99 to 208 form part of these financial statements.92 China Construction Bank Corporation annual report 2012
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Annual Report 2012China Constructio
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DEFINITIONSIn this annual report, u
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INTRODUCTIONHeadquartered in Beijin
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2 CORPORATE INFORMATIONLegal name a
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2 CORPORATE INFORMATIONForbes Ranke
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3 CHAIRMAN’S STATEMENTDear shareh
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4 PRESIDENT’S REPORTDear sharehol
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5 MANAGEMENT DISCUSSION AND ANALYSI
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14 UNAUDITED SUPPLEMENTARY FINANCIA
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15 ORGANISATIONAL STRUCTUREPublic R
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16 BRANCHES AND SUBSIDIARIESTier-on
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16 BRANCHES AND SUBSIDIARIESBranche
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16 BRANCHES AND SUBSIDIARIESChongqi
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16 BRANCHES AND SUBSIDIARIESZhejian
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