Analyst Meeting 1Q07 23 April 2007 Disclaimer: This presentation - - PowerPoint PPT Presentation
Analyst Meeting 1Q07 23 April 2007 Disclaimer: This presentation material may contain forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results
Disclaimer: This presentation material may contain forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward looking statements as a result of various factors. TISCO Bank accepts no liability whatsoever with respect to the use
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(34.6) (16.5) (31.0) 37.6 (24.9) (12.6) (33.8) (4.6) 68.7 25.5
% YOY
318 (214) 537 284 253 (899) 502 649 (849) 1,498
4Q06
11.9 (34.8) (7.7) (134.3) 134.8 (26.2) (0.4) 16.5 9.4 12.5
% QOQ
356 (139) 495 (98) 593 (664) 500 756 (929) 1,686
1Q07
544 (167) 718 (71) 789 (759) 755 793 (551) 1,344
1Q06
(2,899) (1,464) Interest expense 1,545 (633) 2,202 222 1,980 (3,048) 2,222 2,806 5,705
2006
2,267 PPOP (2,893) Operating expense 2,057 Non-interest income 3,103 Net interest income 4,567 Interest income 186 Provisions 2,453 Pre-tax profit 1,791 Net profit (635) Income tax
2005 (Million Baht) Major drivers:
8.2% YTD despite slowdown auto car sale
income growth
expenses due to changing of accounting method on commission fee expenses to be deferred and amortized
Drawback from:
1Q07 2006 2005
47.8 2.7 12.0 1.9 1.87 49.9 3.2 11.5 1.5 0.42 2.21 Diluted EPS (Baht) 44.3 Cost-to-income (%) 4.1 Interest spread (%) 14.0 ROAE (%) 2.5 ROAA (%)
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Propriet ary Trading 10% Invest ment Banking 0% Asset Management Fee 6% Brokerage Fee 10% Banking Fee 16% Int erbank & MM - net 4% Wholesales Loans - net 9% Ret ail Loans - net 45%
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(33.8)
(64.1) (100.0) 9.9 270.4 (1.1) (37.4)
% YoY 502
57 195 1 79 170
4Q06 (0.4)
73.1 0.0 2.3 529.7 (1.9) (29.7)
% QoQ 755
274 28 182 1 78 191
1Q06
28 SAM
500
99 200 5 77 120
1Q07 100.0
19.7 40.0 0.9 15.4 23.9
Breakdown (% )
455 Trading Income
2,222
786 9 295 649
2006
Investment Banking Fee Banking Business Asset Management Fee
Total
Brokerage Fee
(Million Baht)
5
44.3% 47.8% 49.9%
2005 2006 1Q07
(26.2)
60.1 (0.9) (71.5) (2.6) (6.1) (26.3)
% QoQ (12.6)
(10.2) 25.2 (48.7) 82.3 5.1 (10.0)
% YoY 100.0
22.0 0.3 10.5 4.9 16.9 44.7
Breakdown (% ) 899
91 2 244 34 120 408
4Q06 664
146 2 70 33 112 301
1Q07 759
162 2 135 18 107 334
1Q06 3,048
542 8 728 102 452 1,216
2006
Other expenses Directors’ remuneration Fees and service expenses Taxes and duties Premises and equipment expenses
Operating Expenses
Personnel expenses
(Million Baht)
Cost to I ncome Ratio
OPEX decrease mainly due to Fees and Service Expenses and personnel expenses
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0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2006 1Q07
Other assets Interbank & MM & Repo Investment Other Retail Loans Hire Purchase Corporate Loans
0% 20% 40% 60% 80% 100% 2006 1Q07
Other Liabilities L-T Borrowings Interbank Deposits*
92%
8.5 56 58,851 64 54,245 Hire Purchase
100
7 2 1 5 (3) 7 17
% 84,781
5,799 1,718 1,024 4,393 (2,794) 5,823 14,574
2006
206.5 3 3,139 Interbank & MM 773.1 14 15,000 Repo Securities
105,091
6,058 4324 (2,808) 6,072 14,453
1Q07 100
6 4 (3) 6 14
% 24.0 Total Assets
4.5 Other assets (1.6) Investment 0.5 Allowance 4.3 Other Retail Loans (0.8) Corporate Loans
% YTD (Million Baht) 100
5 3 92
% 12,682 72,099
3,292 362 2,157 66,288
2006 13,022 92,069
3,472 3,993 3,044 81,560
1Q07 100
4 4 3 89
% 2.7 Total Equity 27.7 Total Liabilities
5.0 Other Liabilities 1,003.9 L-T Borrowings 41.1 Interbank & MM 23.0 Deposits*
% YTD (Million Baht) 84,781 72,099 105,091
* Deposits include short term borrowing
89% 92,069 14% 56% 17% 64%
17% 3%
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81.0 3,449
938 263 998 1,250
2006 4.6
20.9 13.1 1.8 8.6
% NPL 4.5 3,574 TOTAL NPL
12.6 251 Retail-Housing
78.6
942 1,051 1,330
1Q07
19.0 1.8 9.2
% NPL
Other NPL
Coverage Ratio (% )
Retail-Hire Purchase Corporate
NPL By I ndustry (Million Baht)
2,794 2,808 3,449 3,574 2006 1Q07
NPL Allowance NPLs & Allowance (Million Baht)
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primarily resulted from the expansion of deposits and local borrowings.
expansion of long-term hire purchase loans is offset by increase in short-term liquid assets.
an increase in long-term borrowings. Meanwhile, the average days to maturity
increased from 146 to 190 days.
1.30 1.18 0.40 0.51 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40
Assets Liabilities
Current Profile
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(Remark: Penetration rate was accounted for only new car sales.) I ndustry New Car Sales & TI SCO Penetration Rate 703 682 82 193 154 165 170 7.0% 9.1% 10.1% 12.7% 18.1% 5.4% 7.7%
2005 2006 1Q06 2Q06 3Q06 4Q06 Jan- Feb07 Total Car Sales Penetration Rate
(Thousand Units)
Motorcycle 5% Subsidiaries 2% Bank Branches 57% Head Office 36%
1Q07 Hire Purchase Breakdown
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982 1,053 1,168 786 16,454 16,281 20,916 11,800
2005 2006 1Q06 1Q07
TISCO turnover Market turnover Average Daily Turnover*
(Million Baht)
27% 37% 40% 23% 23% 26% 50% 40% 34% 0% 20% 40% 60% 80% 100% 2005 2006 1Q07 Retail Investors Local Institution Foreign Institution
Customer Breakdown
*Source: www.sse.set
(Million Baht)
(27.5)%YTD (25.4)%YTD
Market TISCO
240,503 255,847 73,591 48,749 3.0% 3.2% 3.3% 2.8% 2005 2006 1Q06 1Q07
Brokerage Value Market Share
Brokerage Value & Market Share
11 82.1 84.7 88.9 62% 62% 62% 29% 29% 25% 9% 9% 13% 20 40 60 80 2005 2006 Mar 2007 Provident Fund Private Fund Mutual Fund
(Billion Baht) 6.5 5.4 14.7 13.7 14.6 16.6 1.4 0.7 5.3 8 th 13.7 2 nd 17.0 2 nd 0.7 17 th
4 8 12 16 2005 2006 Feb 2007
TISCO Market Share Provident Fund Private Fund Mutual Fund
1,574 1,630 1,260 24% 25% 28% 11% 9% 9% 61% 66% 67% 500 1,000 1,500 2005 2006 Feb 2007
Provident Fund Private Fund Mutual Fund
Market NAV Asset Under Management
(Billion Baht) 5.0% YTD 4.2% YTD 4.9% YTD Total Private Fund Provident Fund (Billion Baht)
Market Share (% )
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48/2 TISCO Tower, North Sathorn Road Silom, Bangrak, Bangkok 10500