TenGer Financial Group LLC

Consolidated Financial Statements (Unaudited)

December 31st, 2012 (4Q12)

Financial Highlights 4Q, 2012

All figures are YTD

1,133
16%
975

Loan and Lease Advances

(MNT billions)

(MNT billions)

Total Assets

669

4%

643
3Q12

4Q12

3Q12

Total Equity

13%

(MNT billions)

(MNT billions)

Due to Customers

579

4Q12

24%

129

104

513
3Q12

4Q12

3Q12

4Q12

All figures are YTD

36%

59,843

57,877

3Q12

Total Operating Income

(MNT millions)

(MNT millions)

Net Interest Income

4Q12

29%
53,764

3Q12

16%
17,522
3Q12

Profitability
Return on Equity
Return on Assets
Profit Margin

4Q12

14.6%
1.6%
11.0%

Financial Structure
Equity/Total Assets
11.4%
Loan Portfolio/Total Assets 59.0%
Debt/Equity, times
2.0x

4Q12

Net Profit
(MNT millions)

(MNT millions)

Profit Before Taxes

20,313

69,571

15,207

17%
13,049

3Q12

4Q12

Risk
Loan Loss Prov. Exp.
Non-earning liq.assets/Avg.Assets
Commercial Liab./Avg.Assets

0.3%
27.5%
33.0%

Efficiency and Expenses

Total Expense
Operating Cost
Overhead Cost

12.7%
66.6%
66.3%

Summary of Consolidated Balance Sheet

TenGer Financial Group and Subsidiaries

MNT in millions
ASSETS
Cash And Cash Equivalent
Due From Banks
Financial Investments
Loans And Lease Advances
Other Assets
Property, Plant And Equipment
Intangible Assets
Investment In Associates
Goodwill
TOTAL ASSETS

LIABILITIES
Due To Customers
Due To Banks
Borrowed Funds
Deffered Grants
Other Liabilities
Tax Payables
Deferred Tax Liabilities
Subordinated Debt
TOTAL LIABILITIES
EQUITY
Ordinary Shares
Treasury Shares
Share Premium
Other Reserves
Retained Earnings
Minority Interest
TOTAL EQUITY
TOTAL EQUITY AND LIABILITIES

Book Value per Share (MNT)

Q4 2012 Management Report

Actual
31-Dec-12

Actual
30-Sep-12

Actual
31-Dec-11

Change (% )
Qtrly
YOY

Budget
31-Dec-12

380,641
38,224
445
669,015
13,186
25,537
4,267
1,956
-

258,528
22,881
435
643,079
20,974
22,957
4,276
1,956
-

222,835
43,418
80
537,656
8,208
19,474
3,938
2,486
34

47%
67%
2%
4.0%
-37%
11%
0%
0%
n/a

71%
-12%
453%
24.4%
61%
31%
8%
n/a
n/a

258,13
96,12
972,85
27,15
27,88
5,54
2,66
-

1,133,270

975,086

838,129

16.2%

35.2%

1,390,36

579,299
54,083
305,819
668
14,764
584
336
48,372

513,087
41,857
253,344
684
24,769
906
336
35,904

411,234
53,544
236,905
508
7,988
271
336
35,955

13%
n/a
20.7%
-2%
-40%
-36%
0%
35%

41%
1%
29.1%
n/a
85%
116%
n/a
35%

642,71
79,64
461,67
4,30
27,91
48,46

1,003,924

870,887

746,741

15%

34%

1,264,71

16,585
56,970
11,341
33,062
11,389
129,346

14,933
46,894
11,341
31,031

14,933
46,895
11,341
18,220

11%
n/a
21%
0%
7%

11%
n/a
21%
0%
81%

17,33
64,11
28,06
16,13

104,199

91,388

24%

42%

125,65

1,133,270

975,086

838,129

16%

35%

1,390,36

7,799.14

6,977.89

6,120.00

12%

27%

7,247.0

Summary of Consolidated Income Statement

TenGer Financial Group and Subsidiaries
YTD Quarterly 2012

For the Quarter-Ended

Actual
31-Dec-12

Actual
30-Sep-12

H / (L)

Actual
31-Oct-12

128,291
68,448
59,843

93,182
49,251
43,931

38%
39%
36%

11,747
6,300
5,447

Net Fees & Comissions Income

Other Operating Income
Operating Income

9,496
231
69,571

9,512
322
53,764

0%
-28%
29%

327
20
5,794

(998)
649
4,840

656
(760)
5,172

Operating Expenses
Operating Profit Before CLE

46,160
23,411

34,142
19,622

35%
19%

3,671
2,123

4,281
559

4,065
1,108

4
2

Credit Loss Expense (CLE)

Other Non Operating Income
Other Non Operating Expenses
Profit Before Taxes
Income Tax Expense (Benefit)

3,071
1,583
1,611
20,313
5,233

2,258
1,145
988
17,522
4,473

36%
38%
63%
16%
17%

492
58
104
1,585
218

448
132
90
152
173

MNT in millions
Interest and Similar Income
Interest and Similar Expenses
Net Interest Income

Minority Interest
Total Comprehensive Income
Note
H = Higher
L = Lower

(127)
15,207

13,049

17%

1,366

Actual
30-Nov-12

YTD Q4

11,781
6,592
5,189

Actual
31-Dec-12
11,581
6,305
5,276

(128)
248
429
1,054
369

(90)

(37)

69

723

Bud
31-

15
9
5