Themarketturmoilthatbeganin.PDFVIP

CHIEF EXECUTIVE’S REPORT 行政總裁報告 The market turmoil that began in the second half of 2015, triggered by 受突如其來的人民幣匯率波動影響，市場 the unexpected volatility of the Renminbi exchange rate, continued well 自2015 年下半年開始出現動盪，於2016 into 2016. Compounded by the economic uncertainties that prevailed 年仍持續不穩。由於2016年充斥著不明朗 throughout the year, 2016 was a difficult year for the banking industry 的因素，香港銀行業舉步維艱。隨著英國 in Hong Kong. The effect of Brexit and the changes in the political 脫歐及世界各地政治局勢有所改變，令本 landscape around the world added complications to the already fragile 來脆弱的全球經濟增添更多變數。去年中 global economy. The pace of economic growth in Mainland China slowed 國內地經濟增長步伐放緩，房地產市場及 last year while the real estate market and commodity prices continued to 商品價格持續上漲。訪港旅客人次持續減 rise. Retail sales in Hong Kong declined for the third consecutive year as 少，導致零售業銷貨額連續第三年下跌。 tourist arrivals continued to drop. Also in Hong Kong, asset yields came 市場及信用風險憂慮加重，借貸市場出現 under great pressure as a flight to quality emerged in the lending market 安全投資轉移，對香港資產收益構成龐大 amid elevated market and credit concerns. As a result, competition for 壓力，導致按揭業務競爭加劇以及給予信 mortgage business heated up and the pricing for good credit quality 用質素良好之客戶的息率下跌。 customer declined. 16 Fubon Bank 富邦銀行 CHIEF EXECUTIVE’S REPORT 行政總裁報告 Despite the increasingly challenging operating environment, Fubon 儘管經營環境面對的挑戰日增，富邦銀行（香 Bank (Hong Kong) Limited (“the Bank”) and its subsidiaries (“the 港）有限公司（「本行」）及其附屬公司（「本集 Group”) reported a net profit of HK$635 million for the year ended 31 團」）截至2016年12月31 日止的全年淨溢利為 December 2016, representing an increase of 22% as compared with 6.35 億港元，較2015 年增長22% 。平均股本 2015. Return on average equity increas