A-share Code: 601166 A-share Name: Industrial Bank No.:T 2015-36
Preferred Share Code: 360005, 360012 Preferred Share Name: IBPS1, IBPS2
Industrial Bank Co., Ltd.
Announcement on Resolutions of the 16th Session of the 8th Board of Directors
The Company and all the members of the Board of Directors warrant the truthfulness, accuracy and completeness of the announcement and will bear the joint and several liabilities for any false record, misleading statement or major omission in the announcement.
The 16th session of the 8th Board of Directors of Industrial Bank Co., Ltd. sent the notice on December 3, 2015, and was held in Fuzhou on December 16. Of all the 12 directors who should be present, 11 attended the session (Independent Directors Li Ruoshan and Paul M. Theil entrusted Independent Director Zhu Qing to exercise the voting right regarding the matters deliberated at the session, and Director Li Liangwen asked for absence for personal affairs temporarily), which met relevant provisions of the Company Law of the People’s Republic of China and the Articles of Incorporation of the Company. All the 7 supervisors of the Company’s Board of Supervisors attended the session.
Presided over by Board Chairman Gao Jianping, the session approved the following proposals and made the following resolutions:
I. The Planning for Development of Branch Offices in 2016: The session approved the preparation of Yinchuan Branch in 2016, planned to establish a non-banking subsidiary in Hong Kong – CIB International Holdings Company Limited, and planned to establish other Level 2 branches or sub-branches.
Voting result: 11 votes of consent, 0 vote of opposition, and 0 vote of waiver.
II. The proposal on adding the limit of non-performing debts to be written off in 2015: The session agreed to make adjustment to the budget for write-off of non-performing debts in 2015, adding RMB 11 billion based on the write-off limit approved at the beginning of this year.
Voting result: 11 votes of consent, 0 vote of opposition, and 0 vote of waiver.
III. The proposal on write-off of non-performing single debts, each losing the value higher than RMB 100 million: The session agreed to write off the non-performing debt about RMB 11.692 billion within the annual write-off budget granted by the Board of Directors of the Company.
Voting result: 11 votes of consent, 0 vote of opposition, and 0 vote of waiver.
The session also listened to the “Outline of Strategic Planning for Development 2016-2020 (draft for comments)”, the “Report on the Business Performance from January to November 2015”, the “Report on Progress in the Implementation Planning of New Capital Agreement”, the “Report on Implementation of Rectification of Internal Control Audit Defects by Deloitte Touche Tohmatsu in 2014” and the “Report on the Protection of Consumers’ Rights and Interests 2015”.
It is hereby to announce as foregoing.
Board of Directors of Industrial Bank Co., Ltd.
December 17, 2015