Türk Ekonomi Bankas ı A. Ş . Earnings Presentation December 31, 2010
TEB Consolidated Balance Sheet BNP PARIBAS JOINT VENTURE Consolidated Balance Sheet Audited Audited Audited Audited 31.12.2010 31.12.2009 31.12.2010 31.12.2009 TRY Million Share Change Share Change Assets Liabilities Cash & banks 3.050 2.940 Deposits 13.164 10.363 14% 3,7% 62% 27,0% M.sec + repos 3.863 2.718 Repos 87 1.072 18% 42,1% 0% -91,9% Loans + Trade rec. 13.482 10.647 Funds Borrowed 4.402 2.461 64% 26,6% 21% 78,9% Other Assets 647 573 Other Liab. 1.095 826 3% 12,9% 5% 32,6% Total Liabilities 18.748 14.722 Non- IE Assets 131 160 1% -18,1% 89% 27,3% Total Assets 21.173 17.038 100% 24,3% Subordinated Loans 472 483 2% -2,3% Sh. Equity Capital & Res. 1.681 1.565 8% 7,4% Income 272 268 1% n.m. Total Sh. Equity 1.953 1.833 9% 6,5% Total Liab + Equity 21.173 17.038 100% 24,3% 2
TEB Consolidated Income Statement BNP PARIBAS JOINT VENTURE Consolidated Income Statement Audited Audited 31.12.2010 31.12.2009 TL Million Change Net Interest Income 825,5 862,1 -4% Marketable Securities Revaluation Differences -15,1 -6,1 Adjusted Net Interest Income 810,5 856,0 -5% FX Gains / (Losses) 164,5 185,2 -11% Derivatives Trading -203,3 -201,1 1% Securities Trading Income 31,7 62,7 -49% Net Fees & Commissions Income 464,0 282,4 64% Other Operating Income 45,1 30,7 47% Net Banking Income 1.312,4 1.215,9 8% Loan Loss Provisions -156,3 -177,6 -12% Net Operating Income 1.156,0 1038,3 11% Income from discontinued operations 18,2 0,0 TEB Leasing profit/loss 9,0 3,9 Operating Expenses -837,4 -751,7 11% Provision for Taxes on Income -73,4 -22,5 226% Net Income / (Loss) 272,5 268,0 2% 3
Evolution of NIM and Cost/Income Ratio BNP PARIBAS JOINT VENTURE Net Interest Margin Cost/Income Ratio 6,79% 6,54% 6,35% 6,32% 6,23% 70,00% 6,23% 6,03% 68,30% 67,10% 6,60% 6,38% 6,39% 63,80% 6,31% 4,98% 61,70% 5,82% 5,90% 4,80% 4,68% 57,90% 5,20% 5,27% 4,79% 4,47% 4,34% 2008 2009/1H 2009 2010/1H 20103Q 2010/4Q Q Q Q Q Q Q Q Q Q Q Q Q 1 2 3 4 1 2 3 4 1 2 3 4 / / / / / / / / / / / / 8 8 8 8 9 9 9 9 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 2 2 2 2 2 2 2 2 2 2 2 2 Net Interest Margin (cumulative) Net Interest Margin (quarterly) Cost/Income : Operating Expenses / Net Banking Income (Cumulative & consolidated) Net Interest Margin : (Net interest income+Net FX gains/losses+Derivative Gains)/ (Avg. Liquid Assets+Marketable Securities+Credits) (Bank-only) Source: TEB BRSA Bank-only and Consolidated Financials 4
Breakdown of Fees and Commissions Income BNP PARIBAS JOINT VENTURE Q4 09 Q4 10 Other Cardif Sales agreeement 20% Cash Loans (*) 39% Insurance Cash Loans (*) 10% 4% EFT, Sw ift and Agency 12% 2% Non Cash Loans Asset Under 9% Management 11% Non Cash Loans Inquiry and Company Credit Card 13% Searches 14% 7% Other 12% Import Letters of Credits Asset Under 1% Insurance Management Import Letters of Credits Credit Card 3% 6% 1% 30% EFT, Sw ift and Agency Inquiry and Company 1% Searches 5% (*) Cash Loans are classified under Net Interest Income 5 Source: TEB BRSA Bank-Only Financials
Structure of Loans BNP PARIBAS JOINT VENTURE Loans - Currency Mix 22% 22% 24% 26% 31% Loans (TRY Million) 78% 78% 76% 74% 69% 2,37% 2,18% 2,31% 2,27% 2,22% 11.753 1,75% 2006 2007 2008 2009 2010/4Q 8.991 8.505 TL FC 6.864 4.886 Retail Loans 1.92% 16% 17% 17% 18% 20% 24% 29% 30% 35% 37% 34% 39% 2005 2006 2007 2008 2009 2010 26% 28% 7% 6% 7% 7% 16% 8% Volume Market share 10% 43% 42% 41% 39% 37% 33% 33% 2007 2008 2009 2010/1Q 2010/1H 2010/3Q 2010/4Q Housing Auto Consumer Credit Card 6 Source: TEB BRSA Bank-Only Financials
Breakdown of Loans by LoB BNP PARIBAS JOINT VENTURE 2010/4Q 2009 YE ∆ Volume Million TRY Corporate 2.629,52 22,8% 2.187,70 25,3% 20,2% Commercial 4.457,54 38,7% 3.464,19 40,0% 28,7% Big Commercial 2.113,07 18,4% 1.777,61 20,5% 18,9% Medium Comm. 2.344,47 20,4% 1.686,58 19,5% 39,0% Small Business 1.804,36 15,7% 1.184,90 13,7% 52,3% Retail 2.568,23 22,3% 1.806,16 20,8% 42,2% Private 52,73 0,5% 21,02 0,2% 150,9% 7 Source: BRSA, TEB BRSA Bank-Only Financials
Bank-Only Loan Portfolio BNP PARIBAS JOINT VENTURE Loan Portfolio by Industry 31.12.2010 Mining Machinery Transportation Veh. Misc. Services 2% 2% 2% 5% Chemicals Agriculture 5% 3% Elect. & optical appliance 2% Tourism 7% Other 15% Wholesale/Retail 5% Food, Beverage & Tobacco Textile 10% Metal 8% 7% Consumer Construction 19% 8% 8 Source: TEB, BRSA Bank-Only Financials
Non Performing Loans BNP PARIBAS JOINT VENTURE Non-Performing Loans as a % of Total Loans 27,2% Coverage ratio: % 65,9 16,5% 10,7%11,5% 11,5% 5,2% 7,2% 4,7% 4,3% 5,2% 4,9% 6,0% 4,8% 3,7% 3,6% 3,5% 3,7% 4,6% 4,9% 4,7% 4,1% 4,4% 4,2% 3,6% 3,8% 3,1% 3,2% 3,0% 2,2% 2,4% 2,5% 2,1% 1,3% 2,3% 1,1% 0,9% 1,8% 0,9% 0,0% 0,2% 0,5% 0,6% 1 Q Q Q Q Q Q Q 6 7 8 9 0 1 2 3 4 5 6 7 8 Q 9 9 9 9 0 0 0 0 0 0 0 0 0 2 3 4 1 2 3 4 9 9 9 9 0 0 0 0 0 0 0 0 0 9 9 9 9 0 0 0 0 1 1 1 1 2 2 2 2 2 2 2 2 2 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 2 2 2 2 2 2 2 2 TEB Sector Average 9 Source: BRSA statistics and BRSA Bank-Only Financials
Improvement in the Asset Quality BNP PARIBAS JOINT VENTURE Cost of Risk : loan loss provisions/ average loans for the period (bank-only) Net NPLs (Quarterly) 2,42% 2,41% TL Million 1,98% 1,95% 1,91% Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 1,80% 57 56 92 21 -26 -67 14 11 2,18% 1,60% 2,16% 1,55% 2,10% 1,35% 1,91% 1,30% 1,80% 1,43% 1,40% 1,40% 1,24% 119 98 94 0,90% 87 53 50 46 NPL inflows 43 Q Q Q Q Q Q Q Q Q Q Collections -27 -30 -32 -32 3 4 1 2 3 4 1 2 3 4 -39 -42 -42 -42 / / / / / / / / / / 8 8 9 9 9 9 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 2 2 2 2 2 2 2 2 2 2 Sales -31 -40 -75 Cost of Risk (cumulative) Cost of Risk (quarterly) NPL Categorisation Retail Banking Credit Cards Corporate & Commercial (including SME) 4,1% 17,2% 4,9% 4,8% 4,0% 4,6% 3,9% 4,4% 14,5% 3,8% 4,2% 3,4% 14,2% 3,9% 3,1% 4,6% 4,4% 3,8% 2,7% 10,3% 4,3% 4,1% 2,7% 2,8% 9,2% 10,2% 3,2% 8,9% 8,8% 3,4% 8,7% 3,3% 1,9% 10,3% 8,0% 9,8% 8,9% 1,2% 8,9% 1,0% 0,9% 0,8% 1H09 3Q09 2.009 1Q10 2Q10 3Q10 Q4 10 1H09 3Q09 2.009 1Q10 2Q10 3Q10 Q4 10 1H09 3Q09 2.009 1Q10 2Q10 3Q10 Q4 10 TEB Sector 10 Source: BRSA statistics and TEB, BRSA Bank-Only Financials
Breakdown of Deposits by LoB BNP PARIBAS JOINT VENTURE 2010/4Q 2009 YE ∆ Volume Million TRY Corporate 3.632,43 30,4% 1.925,16 20,5% 88,7% Commercial 2.216,27 18,5% 1.575,75 16,8% 40,6% Big Commercial 1.330,26 11,1% 876,99 9,3% 51,7% Medium Comm. 886,01 7,4% 698,76 7,4% 26,8% Small Business 1.019,08 8,5% 821,16 8,7% 24,1% Retail 3.619,09 30,3% 3.504,79 37,3% 3,3% Private 1.473,47 12,3% 1.567,87 16,7% -6,0% 11 Source: TEB BRSA Bank-Only Financials
Structure of Deposits BNP PARIBAS JOINT VENTURE Deposits - Time/Demand Mix Deposits (TRY million) 11.999 2,04% 78% 1,92% 81% 80% 80% 85% 1,86% 1,77% 1,66% 9.422 9.272 1,29% 22% 20% 19% 20% 15% 7.083 2006 2007 2008 2009 2010 5.400 Demand Time 3.242 Deposits - Currency Mix 30% 38% 40% 49% 56% 2005 2006 2007 2008 2009 2010 70% Volume Market share 62% 60% 51% 44% 2006 2007 2008 2009 2010 TL FC 12 Source: TEB BRSA Bank-Only Financials
Marketable Securities BNP PARIBAS JOINT VENTURE Total Total FC Floating 11% 23% Fixed TL 77% 89% TL Trading HTM Floating 3% 6% 26% Fixed AFS 91% 74% 13 Source: BRSA, TEB BRSA Bank-Only Financials
Capital Increases and CAR BNP PARIBAS JOINT VENTURE CAR 19,48% 18,80% 17,65%18,50% 17,70% 16,31%15,42%15,70% 15,38% 18,07% 14,87%14,07% 17,53%16,95% 14,43% 17,17% 16,47% 15,45%14,75%14,83% 13,99% 13,64% 13,17% 12,58% Q Q Q Q Q Q Q Q Q Q Q Q 1 2 3 4 1 2 3 4 1 2 3 4 / / / / / / / / / / / / 8 8 8 8 9 9 9 9 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 2 2 2 2 2 2 2 2 2 2 2 2 Consolidated Bank-Only Capital I ncreases and Dividend Payments (Thousand TL) Year 2005 2006 06/ 2007 11/ 2007 2008 2009 2010 Dividend Paid* 9.415 18.743 207.017 % 16,28% 32,42% 18,81% Bonus I ssue - - 23.500 445.000 - - - % - - 30,71% 445% - - - Rights I ssue - 18.700 - 210.000 345.000 - - % - 32,35% - 210% 45,69% - - Previous Paid-in Capital 57.800 57.800 76.500 100.000 755.000 1,100,00.00 1,100,00.00 Current Paid-in Capital 57.800 76.500 100.000 755.000 1,100,00.00 1,100,00.00 1,100,00.00 14 * The year indicates the date of payment Source: TEB BRSA Bank-only and Consolidated Financials
Recommend
More recommend
