Apresentação dos Resultados Click to edit Master title style CGD A Financial Reference in Portugal A Trade Route Connecting Four Continents Investor Presentation November 2013 (3Q2013 unaudited accounts) Investor Relations Office Av. Joao XXI, 63 1000-300 LISBOA PORTUGAL Ph.: (+351) 217 953 000 Email: investor.relations@cgd.pt Site: http://www.cgd.pt
Agenda Highlights CGD Group Overview Funding and Liquidity Solvency Asset Quality Business Performance Summary Conclusions Appendix 1: Economic Update Appendix 2: CGD Ratings and Consolidated Main Financial Indicators Appendix 3 - Sustainability 2 November 2013
A Financial Reference in Portugal A Trade Route Connecting Four Continents • Strong franchise as a universal bank and a dominant financial group in Portugal. • Increasing contribution from fast growing international operations in Angola, Market Leadership and Global Reach Mozambique, South Africa and Macao. • Connecting dominant global trade flows on strong platforms in 4 continents. • Focus on operational rationalisation and efficiency. Business • Increasing emphasis on international business. Performance • #1 market share in deposits with loyal and growing customer base. Funding and • Reduction of ECB funding and strong increase in collateral pool. Liquidity • Healthy capital base comfortably above both national and European regulatory Solvency requirements. • Diversified portfolio with no major exposures to a specific segment or sector. Asset • Rigorous and prudent risk management and provisioning. Quality • Focus on the banking activity. • CGDs activity, in 2012, earned it the “Most Sustainable Bank in Portugal in 2012”, distinction of The New Economy. • CGD continues to further a structured, comprehensive sustainability Sustainability programme, recognised by domestic and international entities which monitor and audit its performance. 3 November 2013
Agenda Highlights CGD Group Overview Funding and Liquidity Solvency Asset Quality Business Performance Summary Conclusions Appendix 1: Economic Update Appendix 2: CGD Ratings and Consolidated Main Financial Indicators Appendix 3 - Sustainability 4 November 2013
CGD Group Overview Group Overview Loans and Advances to Customers Market Share - Portugal • Established in 1876 and fully owned by the Portuguese State; % 21.6% 21.3% 20.9% • Strong franchise as a universal Bank and a dominant financial group in Portugal; • Leading position in the retail market with more than 4 million customers in Portugal and assets in excess of 112 B € ; Dec-11 Dec-12 Sep-13 • Largest international platform among Portuguese Deposits from Customers banks: 23 countries/4 continents; Market Share - Portugal • Total network of 1,282 branches connecting % developed countries with the fast growing 28.1% 28.0% 27.6% economies around the world, from which: 810 in Portugal and; o 472 branches abroad; o • “ Most Sustainable Bank in Portugal in 2012 ” – prize awarded in 2013 by The New Economy. Dec-11 Dec-12 Sep-13 5 November 2013
CGD Group Overview Global Reach Iberia (Portugal and Spain) Macao / South China Africa Brazil (Angola, Mozambique and South Africa) Extensive network of Banks, branches and representative offices with different organizational structures, stakes and business models, connecting mature and fast growing markets. 6 November 2013
CGD Group Overview Vying for High Growth Markets 1.5% 6.7% EURO AREA 7.5% GDP Growth DEVELOPING ASIA Mozambique 7.8% 7.5% China 5.5% Angola 5.5% 3.5% Cape Verde 4.0% South Africa 3.1% SUB-SAHARAN AFRICA Brazil 3.0% LATIN AMERICA France 1.8% AND THE CARIBBEAN Spain 0.1% Source: IMF Statistics - October 2013 % Annual average of GDP projected growth rate spanning the period from 2011 to 2018: 7 November 2013
CGD Group Overview Pursuing Earnings Diversification International Activity Contribution M € Gross Operating Income Assets (net) Net Operating Income from Banking and Insurance (179 M € ) (482 M € ) (19,354 M € ) 42% 29% 17% International business, contributed with 179 M € (42%) to CGD Group gross operating income in September 2013, with significant contributions made by Africa and Asia and without resorting to CGD funding . The international activity net income contribution, outside the Iberian market, amounted to 61.4 M € in September 2013. 8 8 November 2013
CGD Group Overview Diversifying Resource Taking International Activity Contribution % M € Deposits Geographic Distribution Deposits Growth +10.8% Asia Spain 31% 14.383 22% 12.977 France 16% PALOP* Other 22% Sep-12 Sep-13 9% (*) Portuguese Language Speaking African Countries Março 2013 International business contributed significantly to resource taking, with a global year-on-year growth of deposits of 10.8%, with special reference to the units in Africa, Asia and also in Spain. 9 November 2013
Agenda Highlights CGD Group Overview Funding and Liquidity Solvency Asset Quality Business Performance Summary Conclusions Appendix 1: Economic Update Appendix 2: CGD Ratings and Consolidated Main Financial Indicators Appendix 3 - Sustainability 10 November 2013
Funding and Liquidity Deposits as the Major Funding Contributor Funding Structure % % Funding Sources Retail Funding Breakdown 3% 4% 4% 11% 7.4% 7.7% 9.0% 12% 15% 11.5% 14.7% 13.0% 86% 84% 81% 80.8% 77.9% 78.0% Dec-11 Dec-12 Sep-13 Dec-11 Dec-12 Sep-13 Customer Deposits Central banks + Credit Institutions Resources (net) Bancassurance Institutional (Bonds+CP) + Portuguese State (CoCos) Other Customer Resources Retail Sound liquidity profile, due to a large and stable deposit base: • 3/4 of deposits hail from households; • 2/3 of deposits are term and savings deposits. 11 November 2013
Funding and Liquidity Strong Deposits Growth, Led by Households Deposits Evolution % Overall Deposits Evolution Deposits Mix Evolution: Domestic Market 66.3 65.5 64.0 11% 12% 60.2 57.8 14.4 13.3 11.6 9.9 9.2 89% 88% 52.4 52.2 51.9 50.3 48.6 Dec-12 Sep-13 2009 2010 2011 2012 Sep-13 Households Other Domestic market International Source: BoP Monetary and Financial Statistics • Sustainable deposits growth driven by households, notwithstanding the difficult economic environment. • CGD Group maintains leadership in resource-taking in the Portuguese Deposits market. 12 November 2013
Funding and Liquidity Tapping International Capital Markets Issuer Caixa Geral de Depósitos SA Format 3 Year Senior Unsecured Announcement 27-Nov-12 Issue Size € 500 MM Coupon 5.625% Reoffer Yield 5.750% Bookrunners Caixa BI/ Credit Suisse/ JP Morgan/ Morgan Stanley 212 Investors Allocation by Geography Allocation by Type of Investor BeNeLux Middle East Other Insurance Spain Switzerland 7% 3% 2% 4% 5% 7% Germany & UK Austria 34% Banks 7% 23% Investment Italy Funds France 10% 66% 12% Portugal Other 12% 8% 13 November 2013
Funding and Liquidity Re-opening of the Portuguese Covered Bond Market Issuer Caixa Geral de Depósitos SA Format 5 Year Covered Bond Announcement 11-Jan-13 Issue Size € 750 MM Coupon 3.750% Reoffer Yield 3.835% Bookrunners Caixa BI/Credit Suisse/UBS/Commerzbank/SG 192 Investors ; ‘A’ rating (DBRS) Allocation by Geography Allocation by Type of Investor Other Scandinavia Other Insurance Portugal 6% 7% 3% 8% Private Banks 10% Spain 2% 10% Switzerland 11% Banks Germany 25% &Austria Investment UK 19% Funds 19% 62% France 13% Andorra BeNeLux Italy 1% 2% 2% 14 November 2013
Funding and Liquidity Loans-to-Deposits Ratio Loans-to Deposits Ratio % Loans-to-Deposits Ratio Evolution The Loans-to-Deposits Ratio, measured by net 136.0% 133.6% 122.2% credit to customer 114.0% 107.4% deposits, at 107.4%, is already lower than the maximum indicative ratio of 120% set for Portuguese banks by 2014 under the Economic and Financial Assistance Programme. 2009 2010 2011 2012 Set-13 Sep - 13 Loans-to-Deposits Ratio below the 120% target for Portuguese banks since 2012. 15 November 2013
Funding and Liquidity Ample Collateral Pool Available ECB Funds used by CGD Group and Available Collateral Pool M € 10.106 5.444 10.155 Available 5.773 Used 1.920 Used - LTRO 7.332 1.462 7.981 6.495 5.245 2.955 0 Sep - 13 2010 2011 2012 Sep-13 Reduction of ECB funding and strong increase of available collateral pool, mainly Portuguese Government Bonds and CGD Bonds, not including credit claims which could generate additional collateral. 16 November 2013
Funding and Liquidity Available Collateral Pool Covers Upcoming Maturities CGD’s Wholesale Redemptions Calendar (Outstanding as of September 2013) M € Cumulative Wholesale Funding Redemptions Wholesale Funding Maturity Profile vs. Available ECB Collateral Pool 9.896 664 7.766 7.618 7.368 1,731 7.232 6.090 6.184 1,469 4.904 5.309 1,000 903 770 3.091 2.188 405 55 250 55 148 135 82 95 48 10 Cumulative Wholesale Funding Redemptions Available ECB Collateral Pool EMTN Covered Bonds Low annual redemptions relative to CGD Group total funding resources and current liquidity buffer. 17 November 2013
Agenda Highlights CGD Group Overview Funding and Liquidity Solvency Asset Quality Business Performance Summary Conclusions Appendix 1: Economic Update Appendix 2: CGD Ratings and Consolidated Main Financial Indicators Appendix 3 - Sustainability 18 November 2013
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