Annual Report 2008
04 06 08 10
Your Financial Partner for Life 34 42 50 72
MESSAGE FROM THE CEO 04 2008 ANNUAL REPORT
KHFC 05
2008 AT A GLANCE 2008 42,436 41,524 35,952 38,912 2007 2008 2007 2008 67,603 11,086 50,889 6,170 2007 2008 2007 2008 8,633 230 6,025 2007 2008 44 2007 2008 21,137 6,579 19,166 2,702 2007 2008 2007 2008 06 2008 ANNUAL REPORT
KHFC 07
2008 HOUSING ECONOMY 2008 5.2 5.1 4.7 6.6 3.4 0.5 8.2 11.4 11.3 5.1 5.1 5.1 5.4 4.2 1.4 9.3 12.6 11.7 2.2 1.6 0.9 4.2 1.7 2.1 2.0 5.7 3.7 5.5 3.9 4.0 3.6 0.5 1.9 1.5 11.0 9.7 4.3 2.6 2.3 4.0 0.6 0.3 1.1 11.5 8.9 3.1 2.0 1.4 4.5 1.8 0.2 4.3 9.3 9.0 3.4 1.9 3.7 4.7 7.3 5.6 14.0 6.9 11.2 6.5 6 5.5 5 3.5 4 3.5 3 2.5 1/2 3/2 5/2 7/2 9/2 11/2 (bp) 500 450 400 350 300 250 200 150 100 50 0 1/2 3/2 5/2 7/2 9/2 11/2 08 2008 ANNUAL REPORT
(%) 15.0 800 200 10.0 5.0 600 150 0.0 400 100 5.0 2004 2005 2006 2007 2008 200 50 10.0 0 2004 2005 2006 2007 2008 (%) 25 8.0 20 7.5 15 10 7.0 5 0 6.5 5 10 '07. 1 4 7 10 '08.1 4 7 10 6.0 15 5.5 KHFC 09
Business Review KHFC Annual Report 2008
BUSINESS REVIEW 12 2008 ANNUAL REPORT
17,244 (40.6) 9,760 (23.0) 6,050 (14.3) 2,059 (4.9) 1,312 (3.1) 1,293 (3.0) 1,115 (2.6) 815 (1.9) 609 (1.4) 548 (1.3) 499 (1.2) 382 (0.9) 339 (0.8) 268 (0.6) 106 (0.2) 36 (0.1) 42,436 (100.0) 16,602 (36.2) 7,531 (16.4) 6,599 (14.4) 2,944 (6.4) 2,248 (4.9) 1,837 (4.0) 1,807 (3.9) 1,264 (2.8) 897 (2.0) 1,011 (2.2) 1,075 (2.3) 698 (1.5) 612 (1.3) 451 (1.0) 209 (0.5) 55 (0.1) 45,840 (100.0) ( ) 11,990 (28.3) 8,422 (19.8) 4,797 (11.3) 4,407 (10.4) 2,523 (5.9) 1,706 (4.0) 1,660 (3.9) 1,523 (3.6) 1,405 (3.3) 4,005 (9.4) 42,436 (100.0) 12,327 (26.9) 8,121 (17.7) 5,090 (11.1) 4,251 (9.3) 3,676 (8.0) 1,912 (4.2) 1,808 (3.9) 1,600 (3.5) 1,520 (3.3) 5,535 (12.1) 45,840 (100.0) ( ) KHFC 13
BUSINESS REVIEW 14 2008 ANNUAL REPORT
(%p) 0.9 0.8 0.7 0.79 0.6 0.5 0.4 0.53 0.3 0.2 0.1 0.23 0 '041 '043 '045 '047 '052 '054 '056 '058 '061 '063 '065 '072 '074 '076 '082 '084 '086 1,750 1,000 2,850 700 100 300 400 550 200 1,400 2,250 1,600 600 850 900 2,400 1,600 900 100 650 200 1,463 650 200 1,150 850 600 150 100 1,863 (7.0) 2,800 (10.6) 3,250 (12.3) 5,300 (20.0) 5,350 (20.2) 4,550 (17.2) 2,650 (10.0) 700 (2.6) 6,400 (24.2) 7,300 (27.6) 6,650 (25.1) 950 (3.6) 5,163 (19.5) 26,463 (100.0) ( ) 38,610 30,160 17,524 21,861 26,463 2004 2005 2006 2007 2008 KHFC 15
BUSINESS REVIEW 780 6.84 2005 2006 2006 2007 2007 2008 2008 16 2008 ANNUAL REPORT
298 364 235 64 961 (6.4) 550 200 300 350 1,400 (9.3) 650 100 600 300 1,650 (11.0) 1,700 50 700 100 350 2,900 (19.3) 450 200 1,400 300 2,350 (15.6) 100 1,200 1,550 2,850 (18.9) 1,700 950 2,650 (17.6) 200 100 300 (2.0) 3,748 (24.9) 4,014 (26.7) 5,600 (37.2) 985 (6.5) 714 (4.7) 15,061 (100.0) ( ) 16,429 17,051 15,061 5,170 2005 2006 2007 2008 KHFC 17
BUSINESS REVIEW 42 214,902 112,556 23,804 111,913 13 1,455,564 46,089 3,356 48,371 55 1,670,466 158,645 27,160 160,284 16,952 14,056 15,218 10,136 3,087 2,507 4,308 84 952 2004 2005 2006 2007 2008 13,320 10,600 11,826 8,385 2,360 36 449 1,193 2,320 2004 2005 2006 2007 2008 18 2008 ANNUAL REPORT
163,431 31,337 20,181 51,518 111,913 53,711 5,340 5,340 48,371 217,142 36,677 20,181 56,858 160,284 KHFC 19
BUSINESS REVIEW 20 2008 ANNUAL REPORT
11,086 2,000 1,259 3,006 3,813 3,059 1,300 1,369 1,425 1,000 1,000 2,467 6,170 4,306 2004 2005 2006 2007 2008 KHFC 21
BUSINESS REVIEW 3,006 3,059 3,813 6,170 11,086 2,380 2,100 1,820 1,031 1,132 5,386 5,159 5,633 7,201 12,218 118,897 90,740 81,107 87,213 114,064 22.1 17.6 14.4 12.1 9.3 67,603 38,516 7,195 31,321 48,054 6,397 41,657 41,214 5,344 35,870 50,889 6,102 44,787 9,039 58,564 2004 2005 2006 2007 2008 505.9 610.6 101.8 270.1 77.2 2.7 0.1 74.9 6.8 28.7 1988 1993 1998 2003 2008 22 2008 ANNUAL REPORT
4,236 (7.2%) 18,838 (32.2%) 35,490 (60.6%) 2,770 (30.6%) 5,057 (56.0%) 1,212 (13.4%) KHFC 23
BUSINESS REVIEW 85.0% 61.3% 96.5% 60.2% 92.7% 84.0% 16,883 14,552 10,381 6,280 5,459 5,620 2,456 108 915 171 2004 2005 2006 2007 2008 24 2008 ANNUAL REPORT
17.5 19.6 22.1 23.3 25.4 2004 2005 2006 2007 2008 KHFC 25
BUSINESS REVIEW 26 2008 ANNUAL REPORT
10,001 594 10,595 4,420 0.42 16,325 (334) 15,991 26,463 1.65 KHFC 27
BUSINESS REVIEW 28 2008 ANNUAL REPORT
695 631 571 230 493 438 200 391 176 316 151 132 237 112 166 90 110 61 64 39 44 9 16 24 KHFC 29
BUSINESS REVIEW 30 2008 ANNUAL REPORT
KHFC 31
BUSINESS REVIEW 51,080 34,816 16.5 14.4 4,606 18,317 435 5,860 1,271 2,106 10.6 8.7 141 3,587 433 12,267 446 14,141 250 8,720 1,269 38,715 18 465 32 902 110 3,243 230 7,468 390 12,078 23 649 50 1,462 59 1,782 155 4,949 288 8,842 182 4,701 515 14,631 615 19,166 635 21,137 1,947 59,635 141(77.5%) 18(9.9%) 23(12.6%) 160(87.9%) 20(11.0%) 2(1.1%) 122(67.0%) 47(25.8%) 13(7.1%) 182(100%) 433(84.1%) 32(6.2%) 50(9.7%) 447(86.8%) 60(11.7%) 8(1.6%) 336(65.2%) 142(27.6%) 37(7.2%) 515(100%) 446(72.5%) 110(17.9%) 59(9.6%) 532(86.5%) 74(12.0%) 9(1.5%) 391(63.6%) 176(28.6%) 48(7.8%) 615(100%) 250(39.4%) 230(36.2%) 155(24.4%) 548(86.3%) 78(12.3%) 9(1.4%) 405(63.8%) 178(28.0%) 52(8.2%) 635(100%) ( ) 32 2008 ANNUAL REPORT
25 161 334 790 1,100 851 632 455 2005 2006 2007 2008 2.1 3.2 3.3 1,140 3.1 1,583 95 592 2005 2006 2007 2008 22 147 425 1 10 46 21 158 537 KHFC 33
Corporate Governance KHFC Annual Report 2008
CORPORATE GOVERNANCE 36 2008 ANNUAL REPORT
KHFC 37
CORPORATE GOVERNANCE 38 2008 ANNUAL REPORT
KHFC 39
CORPORATE GOVERNANCE 40 2008 ANNUAL REPORT
KHFC 41
Corporate Sustainability KHFC Annual Report 2008
CORPORATE SUSTAINABILITY 44 2008 ANNUAL REPORT
KHFC 45
CORPORATE SUSTAINABILITY 46 2008 ANNUAL REPORT
KHFC 47
CORPORATE SUSTAINABILITY 2006 458 2 8 22 32 2007 1,068 22 37 63 122 2008 1,103 20 23 16 59 117 48 2008 ANNUAL REPORT
KHFC 49
Financial Review KHFC Annual Report 2008
FINANCIAL REVIEW 653 19,397 2,641 1,788 20,498 21,185 59 6,766 1,848 (2,242) (10) 4,514 25,699 25,699 734 492 487 249 50 539 1,592 4,119 368 32 395 56 2 697 42 3,628 2,598 6,226 52 2008 ANNUAL REPORT
11,209 160,380 15,951 1,710 138,006 877 42 166,085 3,995 166,085 10,938 633 736 6,057 2,947 565 1 10,939 9,380 5,752 2,489 1,129 8 2 1,559 10,939 KHFC 53
FINANCIAL REVIEW 4,158 7,000 4,300 382 15,840 2,719 1,132 903 4,754 32,106 21,020 11,086 15,840 570 603 233 134 1,540 359 344 243 946 594 54 2008 ANNUAL REPORT
13,810 177 2,660 16,647 129 262 265 656 16,325 (334) 15,991 16,647 3,557 503 4,060 928 4,221 221 537 9 4,988 KHFC 55
FINANCIAL REVIEW 4,468 1,138 2,494 238 8,338 707 1,042 10 1,759 6,998 419 6,579 8,338 346 271 77 694 286 511 339 130 980 56 2008 ANNUAL REPORT
KHFC 57
FINANCIAL REVIEW 653 300 698 98 49 1,496 20,550 (52) 155 (96) 381 122 205 878 262 3,000 1,400 14,997 41 (5) 291 1,056 405 6,766 74 282 (2,598) (10) 653 2,641 2,641 20,498 59 1,848 25,699 19,397 1,788 21,185 6,766 (2,242) (10) 4,514 25,699 1,609 31 400 650 32 1,548 7,847 (20) 137 (68) 357 97 225 6,510 1,400 31 (5) 235 40 4,266 54 215 99 1,609 2,661 31 2,630 7,827 69 679 12,845 7,910 301 8,211 4,266 368 4,634 12,845 956 956 20 31 31 11 100 48 98 17 52 12,671 12,703 32 10 18 28 1,169 24 25 205 878 37 12,854 11,487 3,510 14,997 1,487 10 56 1,056 365 12,974 2,500 2,500 2,610 20 67 2,697 10 10 120 12,854 58 2008 ANNUAL REPORT
734 82 139 511 2 487 344 86 9 16 32 2,010 50 714 878 368 395 286 67 42 492 342 150 249 77 172 4,746 539 3,053 1,066 32 56 697 3,626 6,184 364 69 1 125 169 370 286 70 3 11 694 1 14 596 83 353 275 59 19 137 137 17 17 852 619 165 1 20 47 638 1,781 1,644 1,845 370 13 1 14 342 2 117 58 16 6 5 32 1,316 1 36 714 878 228 83 42 11 8 23 4,540 355 205 150 232 60 172 3,894 80 2,888 1,066 1 12 9 59 (2,558) 2 (2,556) 42 (2,598) 137 1 138 39 99 2,695 1 2,694 3 2,697 KHFC 59
FINANCIAL REVIEW 11,209 2,630 13,191 130 92,323 92,720 442 (839) 45,683 46,089 184 (590) 4 628 88 148 9 111,835 111,337 576 (78) 48,339 48,371 (32) 206 612 4 995 96 3 11,209 15,951 138,006 877 42 166,085 160,380 1,710 3,995 166,085 10,213 2,128 8,001 80,599 80,858 470 (729) 35,078 35,209 214 (345) 2 523 130 69 6 96,122 95,476 719 (73) 36,585 36,611 (26) 789 4 758 85 12 10,213 10,129 115,677 730 54 136,803 132,707 1,648 2,448 136,803 996 996 5,822 502 5,190 130 22,329 11,724 11,862 28 110 10,605 10,880 30 245 147 2 105 42 79 3 12 29,282 27,673 15,713 15,861 143 5 11,754 11,760 6 206 62 177 237 11 9 1,547 29,282 60 2008 ANNUAL REPORT
633 736 6,057 2,947 138 427 5,752 2,489 1,129 8 2 10,938 1 10,939 9,380 1,559 647 445 4,980 1,726 134 5 4,684 1,438 910 210 7,937 13 7,950 7,242 708 3,001 14 291 1,077 1,221 4 422 12 2,989 2,138 1,068 1,051 219 202 2 851 10,939 7,950 2,989 KHFC 61
FINANCIAL REVIEW 62 2008 ANNUAL REPORT
3,107 3,415 18,697 (14,397) 214 1,051 3,585 88 79 72 437 252 344 880 2,719 50 14,820 17,259 27 21,614 594 11,037 4,803 15,840 1,105 3,649 4,754 32,106 21,020 11,086 15,840 1,349 1,644 20,465 (16,139) 174 1,101 2,491 78 105 72 409 187 721 844 2,824 42 14,820 12,953 27 (16) 20,795 (819) 7,494 3,775 11,269 1,389 3,710 5,099 27,800 (16) 21,614 6,170 11,269 3,543 1,758 1,771 1,768 1,742 40 1,028 50 1,094 10 26 4,571 284 28 65 377 61 36 105 8 345 4,306 4,306 16 16 594 819 1,413 4,916 4,571 KHFC 63
FINANCIAL REVIEW 570 243 360 105 233 56 359 97 344 90 1,511 512 999 29 434 594 594 618 182 224 1,127 71 380 2,470 9 68 2,151 2,921 (770) 28 77 (819) (819) 640 48 61 136 1,022 233 2,409 15 21 2,373 1,769 1 357 335 22 1,413 1,413 14,820 17,259 27 21,614 594 32,106 21,020 14,820 12,953 27 (16) 20,795 (819) 27,800 (16) 21,614 4,306 4,306 16 16 594 819 1,413 11,086 1,132 114,064 9.34 6,170 1,031 87,213 12.11 4,916 101 26,851 2.77 64 2008 ANNUAL REPORT
KHFC 65
FINANCIAL REVIEW 810 13,000 177 2,660 123 6 265 262 16,300 25 594 (928) 13,987 2,660 16,647 129 527 656 16,325 (334) 15,991 16,647 621 7,500 72 2,592 40 1 44 105 10,000 1 594 8,193 2,592 10,785 41 149 190 10,001 594 10,595 10,785 5,794 189 5,500 105 68 68 5,862 88 83 5 378 221 157 466 6,324 6,300 24 928 594 1,522 5,396 5,862 66 2008 ANNUAL REPORT
3,557 503 4,221 221 537 9 4,060 4,988 (928) (928) (928) 2,391 140 1,849 44 44 2,531 1,937 594 594 594 1,529 1,166 363 3,051 2,372 177 493 9 1,522 1,522 1,522 16,300 25 594 (928) 16,325 (334) 15,991 26,463 1.65 10,000 1 594 10,001 594 10,595 4,420 0.42 6,324 6,300 24 928 594 1,522 5,396 22,043 1.23 KHFC 67
FINANCIAL REVIEW 68 2008 ANNUAL REPORT
4,468 118 4,050 300 1,138 1,138 498 398 100 51 538 (487) 147 147 1,996 40 717 10 707 1,042 11,485 (3,772) (715) (133) (286) 6,302 2,036 8,338 717 1,042 1,759 6,998 (419) 6,579 8,338 1,958 128 1,730 100 561 561 10 158 (148) 67 67 1,100 43 506 8 498 531 5,361 (2,526) 21 (154) 2,596 1,143 3,739 506 531 1,037 2,835 (133) 2,702 3,739 3,706 2,510 10 2,320 200 577 577 498 398 100 41 380 339 80 80 893 896 3 4,599 211 211 2 209 511 511 722 4,163 6,124 1,246 715 286 154 132 3,877 4,599 KHFC 69
FINANCIAL REVIEW 182 96 68 16 61 339 511 694 346 271 77 980 35 82 13 850 (286) (286) 210 39 25 11 128 348 426 274 141 11 580 20 74 10 476 (154) (154) 268 72 28 57 43 130 66 16 50 400 15 8 3 374 211 163 132 132 6,998 11,485 (3,772) (715) (133) (286) 6,998 (419) 6,579 6,279 5,860 51,080 8.72 2,835 5,361 (2,526) 21 (154) 2,835 (133) 2,702 2,239 2,106 34,816 16.53 4,163 4,163 6,124 1,246 715 286 154 132 3,877 4,040 3,754 16,264 7.81 70 2008 ANNUAL REPORT
KHFC 71
2003 2004 2005 12. 31 02. 28 03. 01 03. 17 03. 24 03. 25 06. 15 08. 10 09. 15 01. 21 03. 22 04. 07 06. 13 07. 18 07. 19 08. 08 10. 13 10. 25 10. 31 11. 08
2006 2007 2008 01. 27 02. 01 03. 03 03. 06 03. 24 04. 05 05. 23 05. 29 06. 22 01. 11 01. 29 03. 09 05. 09 07. 12 08. 02 08. 23 09. 19 10. 05 04. 29 05. 13 07. 21 09. 01 09. 30 10. 01 10. 01 10. 14 12.03 06. 29 06. 30 12.20 11. 12 11. 26 12. 04 12. 18
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