商业银行管理课件解读

1、第二章第二章 商业银行的财务分析与商业银行的财务分析与业绩评价业绩评价第一节第一节 银行的财务报表银行的财务报表一、一、资产负债表资产负债表 :资产负债股东权益资产负债股东权益 (m)(Wells Fargo bank, 2009, million)（一）资产（一）资产:608,7781、现金及存放银行同业：初级（一级）储备，、现金及存放银行同业：初级（一级）储备，8%(19,272,+29,528=48,800) 2、所投资证券：二级储备；流动性部分、所投资证券：二级储备；流动性部分+获取收益部分可获取收益部分可销售证券持有到期证券；销售证券持有到期证券；13.5%（81,918）3、交易账

2、户资产：用于销售而谋求价差的证券、交易账户资产：用于销售而谋求价差的证券1.2%(7,574)4、已售联邦基金和逆回购协、已售联邦基金和逆回购协:1.3%(6,471+1,241=7712)5、贷款与租赁：贷款与租赁：61.9% (376,557)6、贷款损失储备、贷款损失储备ALL：1.9% (11,520)7、其他资产其他资产5、贷款与租赁、贷款与租赁 工商贷款工商贷款:69,545 消费者贷款消费者贷款(15,382+2,855+29,775=48,012) 房地产贷款房地产贷款:257,323 金融机构贷款金融机构贷款:4,512 外国贷款（国际贷款）外国贷款（国际贷款） 农业贷款农业

3、贷款:5,972 对州政府及附属机构贷款：对州政府及附属机构贷款：1,369 证券贷款证券贷款:962 其他贷款：其他贷款：6,9197、其他资产、其他资产 房屋与固定资产房屋与固定资产 4,376 所持有的其他房地产所持有的其他房地产OREO 1,829 在非合并报表的附属企业投资在非合并报表的附属企业投资457 商誉及其他无形资产商誉及其他无形资产11,408+17,220 其他资产其他资产34,254（二）负债股权资本（二）负债股权资本=608,778 1、负债：、负债：552,185, 90.7% （1）存款）存款(国内国内+国外）国外）471,888= 414,131+57,757,

4、 Or 不付息不付息+付息付息= 92,559+379,317, 85.5% 不付息活期存款（常规支票存款）不付息活期存款（常规支票存款） 储蓄存款储蓄存款 NOW账户账户 货币市场存款账户货币市场存款账户 定期存款定期存款（二）负债股权资本（二）负债股权资本608,778（2）非存款性质的借款）非存款性质的借款 所购买的联邦基金及回购协议所购买的联邦基金及回购协议6,921+6,908, 2.5% 其他负债：其他负债：66,480,包括次级债包括次级债11,006, 12.0% 贴现窗口借入贴现窗口借入 发行商业票据发行商业票据 欧洲货币市场借款欧洲货币市场借款 发行债券发行债券 次级债务次

5、级债务11,006 2、股权资本、股权资本（永久性优先股普通股盈余（永久性优先股普通股盈余未分配利润）未分配利润）56,593, 10.2% Balance sheet: ALL American Commercial Banks, 2009, 000 Total Asset: $11,846,113,778 Cash and due from depository institutions: $976,308,232, 8.24% of TA Loan & lease: $6,287,080,310 , 53.1% of Total asset, TA Real Estate Loa

6、ns: 3,825,085,788 , 60.8% of Total loan, TL C&I loans: 1,156,424,957, 18.4% of TL Loans to individuals: 979,828,660 , 15.6% of TL Farm loans: 59,334,110 All other loan & lease: 482,845,154 Investment security portfolio: 2,199,580,664 , 18.6% of TA, Of which, U.S. Government securities: 1,311

7、,288,896 , 59.6% of total security, TS Securities issued by states & political subdivisions: 154,020,531, 7.0% of TS Other domestic debt securities: 496,952,759, 22.6% of TS Foreign debt securities: 216,455,477, 9.8% of TS Equity securities: 20,863,002 , 0.95% of TS Inference: Importance of Cred

8、it RiskSmall Banks, NationCredit Card1%Consumer8%Other14%Real Estate63%C&I14%Large Banks, NationCredit Card7%Consumer10%Other21%Real Estate44%C&I18%Balance sheet: All American Commercial Banks, 2009, 000Liabilities+equity= $11,846,113,778 Total Liabilities: $10,514,580,727, 88.75% of total a

9、ssets Deposits: 8,333,150,656 , 79.3% of total Liabilities; Borrowings: Federal funds purchased & repurchase agreements: $551,006,787, 5.2% of total Liabilities Trading liabilities: 253,267,032, 2.4% total Liabilities Other borrowed funds: 931,424,311, 8.9% of total Liabilities Subordinated debt

10、: 154,668,007 Other liabilities: $291,063,934: 2.8% of total Liabilities Total equity capital: 1,331,533,022, 11.25% of total assets Inference: Highly leveraged二、银行表外业务二、银行表外业务 贷款承诺贷款承诺 备用信用证备用信用证 衍生合约衍生合约三、损益表（收入表）三、损益表（收入表） 利息收入利息收入 利息支出利息支出 净利息收入净利息收入 贷款贷款/租赁损失准备（拨备）租赁损失准备（拨备） 非利息收入非利息收入 非利息支出非利息

11、支出 税前营运收入税前营运收入 证券收益（损失）证券收益（损失） 所得税所得税 特别项前收入特别项前收入 特别收益（损失）特别收益（损失） 净收入净收入主要的非利息收入渠道主要的非利息收入渠道 信托类业务活动信托类业务活动 存款账户的服务收费存款账户的服务收费 交易账户所得及收费交易账户所得及收费 其他非利息收入其他非利息收入信托类业务活动的收入类别信托类业务活动的收入类别 管理与维护客户财产的收费管理与维护客户财产的收费 提供公司证券交易提供账簿记录服务及利提供公司证券交易提供账簿记录服务及利息、红利支付服务的收费息、红利支付服务的收费 管理公司和个人的年金和退休金计划的收管理公司和个人的年

12、金和退休金计划的收费费存款服务的收费项目存款服务的收费项目 支票账簿的维护费支票账簿的维护费 支票账户的透支收费支票账户的透支收费 支票服务费（超出额度支票数量部分）支票服务费（超出额度支票数量部分） 储蓄账户透支费储蓄账户透支费 止付支票收费止付支票收费交易账户所得及收费交易账户所得及收费 交易现金类金融工具的损益交易现金类金融工具的损益 表外衍生交易损益表外衍生交易损益其他非利息收入来源其他非利息收入来源 投资银行、咨询、经纪人和承销服务投资银行、咨询、经纪人和承销服务 风险资本收益风险资本收益 服务收费服务收费 证券化收益证券化收益 保险手续费保险手续费 贷款出售损益贷款出售损益 物业出

13、售损益物业出售损益 其他资产出售损益其他资产出售损益美国银行业美国银行业2009年损益表（收入表）年损益表（收入表）Income Statement ($000) Interest Income:482,173,326 Interest Expenses:122,269,169 Net Interest Income:359,904,157 Provision for Loan Losses:229,611,838 Noninterest Income:242,699,896 Noninterest Expense:352,875,601 Income before Taxes and Ext

14、raordinary Items:20,116,614 Securities gains (losses) :-874,339 Income Taxes:3,850,970 Extraordinary Items:-3,856,902 Net Income:10,751,517 Total noninterest income: ($000) 242,699,896 Fiduciary activities : 24,478,957 Service charges on deposit accounts : 41,076,384 Trading account gains & fees

15、 Interest rate exposures: 14,487,908 Foreign exchange exposures: 5,596,261 Equity security and index exposures: 1,067,875 Commodity and other exposures: 1,460,838 Credit Exposures: 661,294 Additional noninterest income: 153,857,839 Noninterest Expense: ($000) 352,875,601 Salaries and employee benefi

16、ts: 151,038,165 Premises and equipment expense: 41,436,233 Additional noninterest expense: 160,401,203 Total amortization expense and Goodwill impairment losses: 19,357,577 Other noninterest expense: 141,043,626 The Direct Relationship between the Income Statement and the Balance Sheet N M NI = rnAn

17、 - rmLm - P + NII - NIE - T n=1 m=1where NI = Banks net income An = Dollar value of the banks nth asset Lm = Dollar value of the banks nth liability rn = Rate earned on the banks nth asset rm = Rate paid on the banks nth liability P = Provision for loan losses NII = noninterest income earned, includ

18、ing OBS NIE = noninterest expenses incurred T = Banks taxes N = number of assets the bank holds M = number of liabilities the bank holdsThe Direct Relationship between the Income Statement and the Balance Sheet N M NI = rnAn - rmIm - P + NII - NIE - T n=1 m=1where NI = Banks net income An = Dollar v

19、alue of the banks nth asset Lm = Dollar value of the banks nth liability rn = Rate earned on the banks nth asset rm = Rate paid on the banks nth liability P = Provision for loan losses NII = noninterest income earned, including OBS NIE = noninterest expenses incurred T = Banks taxes N = number of as

20、sets the bank holds M = number of liabilities the bank holds第二节第二节 银行的业绩评价与财务银行的业绩评价与财务分析分析一、银行的长期经营目标一、银行的长期经营目标 股东利益最大化股东利益最大化股东利益的衡量股东利益的衡量 资产负债表的股东权益资产负债表的股东权益 根据股票市场价格计算的股东利益根据股票市场价格计算的股东利益 按净现金流折现的股东利益按净现金流折现的股东利益二、绩效评价方法二、绩效评价方法Time series analysis - analysis of financial statements over a pe

21、riod of timeCross-sectional analysis - analysis of financial statements comparing one firm with others（一）比率分析法（一）比率分析法盈利能力比率盈利能力比率营业支出比率营业支出比率流动性比率流动性比率风险比率风险比率（二）杜邦分析法：（二）杜邦分析法：渐次分解法渐次分解法三、绩效评价指标体系三、绩效评价指标体系 （一）股权价值（一）股权价值 E=A-L， L一般按原始价值计算一般按原始价值计算 A按原始价值计算按原始价值计算 A按市场价值计算（主要是证券资产按市场价值计算）按市场价值计算（主

22、要是证券资产按市场价值计算） E =P0Q, P0为股票价格，为股票价格，Q为股票数量为股票数量 股票价格的计算股票价格的计算： P0=E(Dt)/(1+r)t, t=0 P0=D1/(r-g) 股票此时在流通市场的价格股票此时在流通市场的价格（二）主要的盈利指标（二）主要的盈利指标 ROE与与ROAROE = Net income Average Assets Average Assets Average equity capital = ROA EM Return on Assets and Its ComponentsReturn on Assets (ROA) - measures p

23、rofit generated relative to the FIs assetsROA = Net Income Total operating income Total operating income Average assets = PM AU* Total operating income = Interest Income + Non-Interest IncomeReturn on Assets and Its ComponentsROE=ROA x EM =PM x AU x EM =TME x EME x AU x EMPM=Net income/Total operati

24、ng revenueAU= Total operating revenue/Total assetEM=Total assets/Total equity capitalTME=Net income/Pretax net operating incomeEME=Pretax net operating income/Total operating revenueProfit MarginProfit Margin (PM) - measures the ability to pay expensesand generate income from interest and noninteres

25、t incomeInterest expense ratio = Interest expense Total operating incomeProvision for loan loss ration = Provision for loan losses Total operating incomeNoninterest expense ratio = Noninterest expense Total operating incomeTax Ratio = Income taxes Total operating incomeAsset UtilizationAsset utiliza

26、tion (AU) - measures the amount of interest/noninterest income generated per dollar of total assetsAU = Total operating income = Interest + Noninterest Average assets income income ratio ratioNet Interest MarginNet interest margin : interest income minus interest expense divided by total assets or e

27、arning assets Netinterest = Net interest incomemargin Average assets = Interest income - Interest expense Avg. Investment securities + Avg. Net loans and leasesNet noninterest Margin Net noninterest Margin: Noninterest revenues minus noninterest expenses divided by total assets or earning assets. Ne

28、t noninterest margin=noninterest revenues- noninterest expenses total assets (or earning assets)Net operating margin Net operating margin= total operating revenues-total operating expense total assets (or earning assets)SpreadSpread - the difference between lending and deposit rates*Spread = Interest income - Interest expense Avg. Earning assets Av