Trk Ekonomi Bankas A. . Earnings Presentation December 31, 2010 - - PowerPoint PPT Presentation

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Trk Ekonomi Bankas A. . Earnings Presentation December 31, 2010 - - PowerPoint PPT Presentation

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Trk Ekonomi Bankas A. . 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

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Türk Ekonomi Bankası A.Ş.

Earnings Presentation December 31, 2010

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BNP PARIBAS JOINT VENTURE

TEB Consolidated Balance Sheet

Consolidated Balance Sheet

TRY Million Share Change Share Change

Assets Liabilities Cash & banks

14%

3.050 2.940

3,7%

Deposits

62%

13.164 10.363

27,0%

M.sec + repos

18%

3.863 2.718

42,1%

Repos

0%

87 1.072

  • 91,9%

Loans + Trade rec.

64%

13.482 10.647

26,6%

Funds Borrowed

21%

4.402 2.461

78,9%

Other Assets

3%

647 573

12,9%

Other Liab.

5%

1.095 826

32,6%

Non- IE Assets

1%

131 160

  • 18,1%

Total Liabilities

89%

18.748 14.722

27,3%

Total Assets

100%

21.173 17.038

24,3%

Subordinated Loans

2%

472 483

  • 2,3%
  • Sh. Equity

Capital & Res.

8%

1.681 1.565

7,4%

Income

1%

272 268

n.m.

Total Sh. Equity

9%

1.953 1.833

6,5%

Total Liab + Equity

100%

21.173 17.038

24,3%

Audited Audited 31.12.2010 31.12.2009 31.12.2010 31.12.2009 Audited Audited

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BNP PARIBAS JOINT VENTURE

TEB Consolidated Income Statement

Consolidated Income Statement

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%

Audited Audited 31.12.2009 31.12.2010

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BNP PARIBAS JOINT VENTURE

Evolution of NIM and Cost/Income Ratio

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

Net Interest Margin Cost/Income Ratio

Cost/Income : Operating Expenses / Net Banking Income (Cumulative & consolidated) 68,30% 57,90% 61,70% 67,10% 70,00% 63,80%

2008 2009/1H 2009 2010/1H 20103Q 2010/4Q

6,60% 6,38% 5,20% 6,35% 4,98% 6,03% 6,32% 6,23% 6,23% 4,80% 4,68% 5,27% 5,82% 6,79% 6,39% 6,54% 6,31% 5,90% 4,79% 4,47% 4,34% 2 8 / 1 Q 2 8 / 2 Q 2 8 / 3 Q 2 8 / 4 Q 2 9 / 1 Q 2 9 / 2 Q 2 9 / 3 Q 2 9 / 4 Q 2 1 / 1 Q 2 1 / 2 Q 2 1 / 3 Q 2 1 / 4 Q

Net Interest Margin (cumulative) Net Interest Margin (quarterly)

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BNP PARIBAS JOINT VENTURE

Breakdown of Fees and Commissions Income

(*) Cash Loans are classified under Net Interest Income

Cash Loans (*) 12% Non Cash Loans 13% Asset Under Management 11% Insurance 4% Other 20% Import Letters of Credits 1% Inquiry and Company Searches 7% EFT, Sw ift and Agency 2% Credit Card 30%

Source: TEB BRSA Bank-Only Financials

Q4 09 Q4 10

Cash Loans (*) 10% Non Cash Loans 9% Asset Under Management 6% Other 12% Cardif Sales agreeement 39% Import Letters of Credits 1% Inquiry and Company Searches 5% EFT, Sw ift and Agency 1% Credit Card 14% Insurance 3%

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BNP PARIBAS JOINT VENTURE

Structure of Loans

Loans - Currency Mix 69% 76% 74% 78% 78% 31% 24% 26% 22% 22% 2006 2007 2008 2009 2010/4Q TL FC

Retail Loans

6% 7% 7% 8% 20% 18% 17% 17% 16% 39% 33% 37% 42% 41% 43% 33% 16% 10% 7% 39% 37% 35% 34% 30% 28% 26% 29% 24%

2007 2008 2009 2010/1Q 2010/1H 2010/3Q 2010/4Q Housing Auto Consumer Credit Card

Source: TEB BRSA Bank-Only Financials

Loans (TRY Million)

6.864 8.505 11.753 8.991 1.92% 4.886 1,75% 2,27% 2,37% 2,31% 2,22% 2,18% 2005 2006 2007 2008 2009 2010 Volume Market share

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BNP PARIBAS JOINT VENTURE

Breakdown of Loans by LoB

Source: BRSA, TEB BRSA Bank-Only Financials

Million TRY ∆ Volume 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% 2009 YE 2010/4Q

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BNP PARIBAS JOINT VENTURE

Other 15% Metal 7% Consumer 19% Tourism 7% Mining 2%

  • Misc. Services

5% Wholesale/Retail 5% Food, Beverage & Tobacco 10% Construction 8% Textile 8%

  • Elect. & optical appliance

2% Machinery 2% Agriculture 3% Transportation Veh. 2% Chemicals 5%

Bank-Only Loan Portfolio

Loan Portfolio by Industry 31.12.2010

Source: TEB, BRSA Bank-Only Financials

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BNP PARIBAS JOINT VENTURE

Non Performing Loans

Non-Performing Loans as a % of Total Loans

Source: BRSA statistics and BRSA Bank-Only Financials

2,3% 3,7% 4,6% 4,9% 4,7% 4,1% 3,1% 3,2% 3,0% 4,4% 4,2% 0,0% 0,2% 0,5% 0,6% 3,8% 2,5% 2,1% 1,3% 0,9% 1,1% 0,9% 1,8% 3,6% 4,8% 5,2% 5,2% 4,7% 3,5% 4,3% 2,2% 2,4% 7,2% 10,7%11,5% 6,0% 11,5% 16,5% 27,2% 4,9% 3,7% 3,6% 1 9 9 6 1 9 9 7 1 9 9 8 1 9 9 9 2 2 1 2 2 2 3 2 4 2 5 2 6 2 7 2 8 2 9 Q 1 2 9 2 Q 2 9 3 Q 2 9 4 Q 2 1 1 Q 2 1 2 Q 2 1 3 Q 2 1 4 Q

TEB Sector Average Coverage ratio: % 65,9

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BNP PARIBAS JOINT VENTURE

Improvement in the Asset Quality

NPL Categorisation Retail Banking Credit Cards Corporate & Commercial (including SME)

0,8% 2,8% 0,9% 1,0% 1,2% 1,9% 2,7% 2,7% 3,1% 3,4% 4,1% 3,9% 4,0% 3,8% 1H09 3Q09 2.009 1Q10 2Q10 3Q10 Q4 10 8,7% 8,8% 14,5% 17,2% 14,2% 9,8% 8,9% 8,0% 8,9% 9,2% 10,3% 10,2% 8,9% 10,3% 1H09 3Q09 2.009 1Q10 2Q10 3Q10 Q4 10

TEB Sector

3,2% 3,8% 3,4% 3,3% 4,4% 4,6% 4,3% 4,1% 3,9% 4,8% 4,4% 4,9% 4,6% 4,2% 1H09 3Q09 2.009 1Q10 2Q10 3Q10 Q4 10

Cost of Risk : loan loss provisions/ average loans for the period (bank-only)

Source: BRSA statistics and TEB, BRSA Bank-Only Financials

Net NPLs (Quarterly)

TL Million

119 87 98 94 53 50 46 43

  • 27
  • 30
  • 42
  • 42
  • 39
  • 42
  • 32
  • 32
  • 31
  • 40
  • 75

NPL inflows Collections Sales Q1 09 92 Q2 09 57 Q3 09 56 Q4 09 21 Q1 10

  • 26
  • 67

Q2 10 Q3 10 14 Q4 10 11

1,43% 2,18% 1,80% 1,40% 1,40% 1,35% 1,95% 1,91% 2,42% 1,98% 2,41% 1,80% 1,55% 1,60% 1,30% 2,10% 1,91% 1,24% 2,16% 0,90% 2 8 / 3 Q 2 8 / 4 Q 2 9 / 1 Q 2 9 / 2 Q 2 9 / 3 Q 2 9 / 4 Q 2 1 / 1 Q 2 1 / 2 Q 2 1 / 3 Q 2 1 / 4 Q

Cost of Risk (cumulative) Cost of Risk (quarterly)

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BNP PARIBAS JOINT VENTURE

Breakdown of Deposits by LoB

Source: TEB BRSA Bank-Only Financials

Million TRY ∆ Volume 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%

2009 YE 2010/4Q

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BNP PARIBAS JOINT VENTURE

Structure of Deposits

Deposits - Currency Mix 44% 51% 60% 62% 56% 49% 40% 38% 30% 70% 2006 2007 2008 2009 2010 TL FC Deposits - Time/Demand Mix 19% 20% 15% 22% 20% 81% 80% 85% 78% 80% 2006 2007 2008 2009 2010 Demand Time Source: TEB BRSA Bank-Only Financials

Deposits (TRY million)

3.242 5.400 7.083 9.272 9.422 11.999 1,29% 1,66% 1,92% 2,04% 1,77% 1,86% 2005 2006 2007 2008 2009 2010 Volume Market share

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BNP PARIBAS JOINT VENTURE

Marketable Securities

Source: BRSA, TEB BRSA Bank-Only Financials

Total

Fixed 77% Floating 23%

Total

TL 89% FC 11%

TL Fixed 74% Floating 26%

AFS 91% HTM 6% Trading 3%

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BNP PARIBAS JOINT VENTURE

Capital Increases and CAR

Source: TEB BRSA Bank-only and Consolidated Financials 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 Capital I ncreases and Dividend Payments

* The year indicates the date of payment

(Thousand TL)

CAR

12,58% 13,99% 17,17% 17,53%16,95% 15,45%14,75%14,83% 13,64% 18,80% 17,70% 16,31%15,42%15,70% 14,43% 13,17% 16,47% 18,07% 14,87%14,07% 15,38% 17,65%18,50% 19,48% 2 8 / 1 Q 2 8 / 2 Q 2 8 / 3 Q 2 8 / 4 Q 2 9 / 1 Q 2 9 / 2 Q 2 9 / 3 Q 2 9 / 4 Q 2 1 / 1 Q 2 1 / 2 Q 2 1 / 3 Q 2 1 / 4 Q

Consolidated Bank-Only

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BNP PARIBAS JOINT VENTURE

Business Lines- Corporate Banking

  • Contribution to results (as of 2010 4Q):
  • 22.8 % of loans
  • 30.4 % of deposits
  • 11.8 % of customer contribution
  • Cross-sell ratio : 5.60x
  • NPL ratio : 1.00 %

Source: TEB BRSA Bank-Only Financials

Spreads of Corporate Loans

1,77 1,77 1,83 2,27 5,15 4,34 3,48 2,75 1,42 1,37 1,37 1,65 2,66 2,3 2,33 2,4 1,28 1,30 1,39 1,23 1,67 1,82 2,02 1,58 2008/1Q 2008/1H 2008/3Q 2008/4Q 2009/1Q 2009/1H 2009/9M 2009/YE 2010/1Q 2010/1H 2010/3Q 2010/4Q TL FC

Corporate Loans (TL Million)

989 1536 1642 2135 2092 2468 2005 2006 2007 2008 2009 2010

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BNP PARIBAS JOINT VENTURE

Business Lines- Commercial Banking

  • Contribution to results (as of 2010 4Q) :
  • 38.8 % of loans
  • 18.5 % of deposits
  • 38.3 % of customer contribution

(15.4% + 22.9%)

  • Cross-sell ratio : 6.41x and 6.36x
  • NPL ratio : 4.08 % and 4.10 %

Source: TEB BRSA Bank-Only Financials

Spreads of Commercial Loans

7,55 7,16 6,77 6,92 10,61 9,67 8,57 7,60 2,66 2,56 2,48 2,73 4,72 4,19 3,80 3,65 2,31 2,04 1,93 1,85 4,03 3,53 3,39 3,27 2 8 / 1 Q 2 8 / 1 H 2 8 / 3 Q 2 8 / 4 Q 2 9 / 1 Q 2 9 / 1 H 2 9 / 9 M 2 9 / Y E 2 1 / 1 Q 2 1 / 1 H 2 1 / 3 Q 2 1 / 4 Q TL FC

Commercial Loans (TL Million)

975 501 1410 925 1621 1618 1681 1762 1778 1687 2113 2344 Big Commercial (10-100 mio$) ME (2-10 mio $) 2005 2006 2007 2008 2009 2010

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BNP PARIBAS JOINT VENTURE

Business Lines- Small Business

  • Contribution to results (as of 2010 4Q):
  • 15.7 % of loans
  • 8.5 % of deposits
  • 25.7% of customer contribution
  • Cross-sell ratio : 3.85x
  • NPL ratio : 4.08 %

Source: TEB BRSA Bank-Only Financials

Spreads of Small Business Loans

10,23 9,97 9,32 9,2 12,64 12,29 11,93 11,53 0,82 0,77 0,64 0,63 4,88 4,63 4,53 4,59 8,27 8,75 7,57 7,31 4,83 5,07 5,08 5,13 2 8 / 1 Q 2 8 / 1 H 2 8 / 3 Q 2 8 / 4 Q 2 9 / 1 Q 2 9 / 1 H 2 9 / 9 M 2 9 / Y E 2 1 / 1 Q 2 1 / 1 H 2 1 / 3 Q 2 1 / 4 Q TL FC

Small Business Loans (TL Million)

35 313 867 1057 1185 1804 2005 2006 2007 2008 2009 2010

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BNP PARIBAS JOINT VENTURE

Business Lines- Retail Banking

  • Contribution to results (as of 2010 4Q):
  • 22.3 % of loans
  • 30.3 % of deposits
  • 22.4 % of customer contribution
  • Cross-sell ratio : 3.93x
  • NPL ratio : 1.06 % (excl. CC)

CC: 8,75%

CC: Credit card loans FC loans are negligable in amount

Source: TEB BRSA Bank-Only Financials

Spreads of Retail Loans

4,77 4,64 4,41 4,57 6,52 5,75 5,99 5,83 4,46 4,25 4,02 3,85 2,55 2,40 2,25 2,26 4,08 3,59 3,89 3,93 3,90 3,58 3,32 3,18 2 8 / 1 Q 2 8 / 1 H 2 8 / 3 Q 2 8 / 4 Q 2 9 / 1 Q 2 9 / 1 H 2 9 / 9 M 2 9 / Y E 2 1 / 1 Q 2 1 / 1 H 2 1 / 3 Q 2 1 / 4 Q Retail incl. CC Retail

Retail Loans (TL Million)

386 679 1143 1474 1806 2568 2005 2006 2007 2008 2009 2010

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BNP PARIBAS JOINT VENTURE

Private Banking

  • Contribution to results (as of 20103Q):
  • 0.5 % of loans
  • 12.3 % of deposits
  • 1.81 % of customer contribution
  • Cross-sell ratio : 4.33x
  • NPL ratio : -

Source: TEB BRSA Bank-Only Financials

Private Banking Assets (Billion US$)

0,7 1,3 1,8 1,6 1,4 1,2 1,1 1,4 1,4 2 7 2 6 2 7 2 8 2 9 2 1 / 1 Q 2 1 / 2 Q 2 1 / 3 Q 2 1 / 4 Q

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BNP PARIBAS JOINT VENTURE

Contact Details

Investor Relations +90 212 2512121 http://www.teb.com.tr

Çiğdem Başaran (ext. 1532)

Cigdem.Basaran@teb.com.tr

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BNP PARIBAS JOINT VENTURE

Disclaimer

The information and opinions obtained in this document have been compiled or arrived at by TEB from sources believed to be reliable, but no representation or warranty is made as to their accuracy, completeness or correctness. All opinions and estimates contained in this document constitute TEB’s judgement as of the date of this document and are subject to change without

  • notice. This document is published for the assistance of the recipients, but is not to be relied

upon as authoritative or taken in subtitution for the exercise of judgement by any recipient. TEB does not accept any liability for any direct or consequential loss arising from any use of this document or its contents. This document is strictly confidential and may not be reproduced, distributed or published for any purpose.