ANALYST MEETING. PT Bank Tabungan Negara (Persero) Tbk. Business & Financial Performances as of September 30, Jakarta, 25 th October 2018

Transcription

1 ANALYST MEETING PT Bank Tabungan Negara (Persero) Tbk. Business & Financial Performances as of September 30, 2018 Jakarta, 25 th October 2018

2 Disclaimer IMPORTANT: The following forms part of, and should be read in conjunction with, the other material in this presentation This presentation contains privileged information and has been prepared solely for the recipient(s). By accepting a copy (or the contents) of this presentation, you are deemed to have acknowledged and agreed to the provisions appearing hereinafter. The existence of this presentation and the contents thereof should not be disclosed, reproduced, copied or otherwise disseminated to any other person or published, in whole or in part, without prior consent of PT Bank Tabungan Negara (Persero) Tbk. ( BTN or the Company ). This presentation does not constitute or form part of any offer for sale or invitation, or solicitation of an offer, to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis of or be relied on in connection with any contract or commitment whatsoever. Any decision to purchase or subscribe for securities should be made only on the basis of the information contained in a prospectus or offering circular issued by the Company in connection with any such offering. Information and opinions contained in this presentation are provided for reference of the recipients only and are not to be relied upon as authoritative or without the recipient s own independent verification or taken in substitution for the exercise of the recipient s own judgment. Any reference to past performance should not be taken as an indication of future performance. In furnishing the presentation, the Company has not undertaken to provide the recipient(s) with access to any additional information or updates. None of the Company warrant or guarantee whatsoever that this presentation will lead to the successful completion, or consummation, of any transactions whether or not under contemplation. Accordingly the Company disclaims any liability whatsoever in connection therewith and with any decisions that might be taken upon the basis of this presentation, directly or indirectly. In particular, the Company owe no duty to the recipient (except as required by applicable laws) to exercise any judgment on its behalf as to the merits or suitability of any transaction. The recipient agrees that the merits or suitability of any such transaction to its particular situation will be independently determined by the recipient including consideration of the legal, tax, accounting, regulatory, financial and other related aspects thereof. 2

3 Outline Macroeconomy 04 9M18 Summary 08 Performance Overview 11 Sharia Business 35 Appendices 38 3

4 Macroeconomy 4

5 Macroeconomy Manageable Inflation & Higher Benchmark Rate Low Inflation & Interest Rate Hike Stable Economic Growth Inflation was controlled at 2.88% (yoy) in Sep 2018, still within BI s target of 3.5±1%. During 9M18, Bank Indonesia raised its policy rate in total of 150bps, bringing the BI 7-Day RR Rate to 5.75% in line with the FFR hike. The economy grew by 5.27% (yoy) in 2Q18, supported by higher consumption. Bank Indonesia projects economic growth at 5.0%-5.4% (yoy) in

6 BBTN Loan & Deposit Above Industry s Growth Robust Loan Growth In Sep 2018, BBTN Loan grew by 19.28% (yoy), far above industry growth at 12.1% (yoy) in Aug. Its acceleration was supported by Subsidized Mortgages. Strong Deposits Growth Total Deposits of BBTN increased by 16.06% (yoy) in Sep Meanwhile industry recorded growth of 6.9% (yoy) in Aug. 6

7 Housing Industry Rising Residential Property Prices Have Slowed Down Residential Property Price Index Growth of Property Sales (% qtq) Residential Property Price Index slowed down from 1.42% in 1Q18 to 0.76% (qtq) in 2Q18 and from 3.69% to 3.26% (yoy). The rising prices affected all property types, especially small and large houses. Residential property sales significantly weakened from 10.55% (qtq) to -0.08% (qtq) in line with seasonal trends. 7

8 9M18 Summary 8

9 Bank BTN s Achievement on 1 Million Houses Program Loan Type Target (Unit) Mortgage Disbursed 2018 Approved prior to 2018 Progress as of Sep 30, 2018 Construction Loans Support in Progress Approved in 2018 Unit IDR Bn Unit IDR Bn Unit IDR Bn Unit IDR Bn Unit IDR Bn Subsidized Mortgage 600, ,766 18, ,442 3, ,142 4, ,584 7, ,350 26,070 Non Subsidized Mortgage 150,000 39,350 13, ,430 12,270 17,314 3, ,744 15, ,094 28,863 TOTAL 750, ,116 31, ,872 15, ,456 7, ,328 23, ,444 54,933 Total Total 2018 Target (Unit) Loan Type Mortgages Construction Total Subsidized Mortgage 248, , ,000 Non Subsidized Mortgage 60,000 90, ,000 TOTAL 308, , ,000 9

10 9M18 Key Takeaways Robust Loan Growth Sufficient Liquidity Solid Profitability Improved Asset Quality Adequate Capital Excellent Governance Loan growth was 19.28% (yoy) in support of the 1 Million Houses Program Subsidized mortgage demand remained strong with 30.11% (yoy) growth Sustaining the leadership of mortgage in Indonesia by 37.73% Holding 93.92% of national subsidized mortgage disbursement Deposits rose by 16.06% (yoy) LCR was sufficient at % Net profit increased by 11.51% (yoy) Net interest income raised by 15.29% (yoy) NPL gradually improved to 2.65%, lower than 3.07% in Sep 2017 Special-Mentioned Loans also improved from 11.70% to 10.27% in Sep 2018 NPL on commercial loans significantly lowered CAR was well maintained at 17.97% CAR maintained in accordance with Bank Indonesia regulation Scored Corporate Governance Perception Index (CGPI) in 2017, with the predicate The Most Trusted Company Total score of the 2017 ASEAN Corporate Governance Scorecard was (Leadership in Corporate Governance) 10

11 Performance Overview 11

12 Financial Highlight (IDR Billion) FY 2013 FY 2014 FY 2015 FY 2016 FY M M 2018 yoy INDUSTRY (AGT 2018) Total Asset 131, , , , , , , % 8.75% 17% Total Loan & Financing 100, , , , , , , % 12.1% 19% Total Deposits 96, , , , , , , % 6.9% 19% Equity 11,557 12,253 13,860 19,131 21,663 20,590 23, % 13% Net Profit 1,562 1,146 1,851 2,619 3,027 2,005 2, % 9.24% > 2 Earning per Share (IDR) % CAR (Tier 1) 14.91% 14.07% 14.87% 16.54% 15.99% 14.01% 15.56% 21.09% CAR (BI) 15.62% 14.64% 16.97% 20.34% 18.87% 16.97% 17.97% 22.80% 16% NPL (Gross) 4.05% 4.01% 3.42% 2.84% 2.66% 3.07% 2.65% 2.70% 2.3% NPL (Nett) 3.04% 2.76% 2.11% 1.85% 1.66% 2.06% 1.75% 1.30% 1.2% N I M 5.44% 4.47% 4.87% 4.98% 4.76% 4.49% 4.35% 5.14% 4.5% C I R 50.86% 57.21% 50.08% 48.41% 50.19% 52.90% 53.29% COVERAGE RATIO 27.97% 33.77% 43.14% 45.25% 44.55% 40.01% 46.19% ROE 16.05% 10.95% 16.84% 18.35% 18.11% 16.34% 16.06% 18% ROA 1.79% 1.14% 1.61% 1.76% 1.71% 1.56% 1.45% 2.47% 1.7% LDR % % % % % % % 93.79% 105% LCR % % % % % 12 B TAR 20

13 Balance Sheet (IDR Billion) FY 2013 FY 2014 FY 2015 FY 2016 FY M M 2018 yoy Total Assets 131, , , , , , , % Total Earning Assets 118, , , , , , , % - Term Deposit with BI 4,834 1,496 7,529 17,581 18,693 4,132 5, % - Loans and Financing 100, , , , , , , % - Securities 12,595 13,684 10,001 12,785 15,252 16,092 19, % - Other Earning Assets 408 1, ,225 3,003 2, % Provision on Earning Asset (1,148) (1,581) (2,064) (2,132) (2,373) (2,284) (2,710) 18.63% Others 14,013 13,972 16,823 20,520 29,577 26,490 27, % Deposits 96, , , , , , , % Securities Issued 8,837 7,939 10,937 12,935 17,932 17,931 17, % Deposits from Other Banks 285 1,770 3,255 5,459 8,035 5,825 10, % Repurchase Agreements 2,653 3,818 2,135 1,385 1,401 1, % Borrowings 7,070 6,996 7,725 7,999 10,990 10,148 14, % Others 4,556 5,329 6,151 7,068 8,395 7,985 10, % Equity 11,557 12,253 13,860 19,131 21,663 20,590 23, % 13

14 Asset Composition Total Asset (IDR Trillion) Asset Composition (%) 14

15 Earning Asset Composition Total Earning Asset (IDR Trillion) Earning Asset Composition (%) 15

16 Loans Composition Focused on Housing Loans Loans Type 31-Dec Dec Dec Dec Dec Sep Sep-18 IDR Bn Shares IDR Bn Shares IDR Bn Shares IDR Bn Shares IDR Bn Shares IDR Bn Shares IDR Bn Shares yoy Housing Loans 87, % 102, % 124, % 147, % 179, % 167, % 200, % 19.88% Subsidized Mortgages 28, % 34, % 43, % 56, % 75, % 68, % 88, % 30.11% Non-Subsidized Mortgages 39, % 45, % 53, % 60, % 69, % 65, % 74, % 13.22% Other Housing Loans 7, % 8, % 8, % 8, % 8, % 8, % 8, % -3.31% Construction Loan 11, % 14, % 18, % 21, % 26, % 24, % 28, % 17.41% Non-Housing Loans 13, % 13, % 14, % 16, % 19, % 17, % 19, % 13.50% Consumer Loan 2, % 2, % 3, % 4, % 4, % 4, % 4, % 13.33% Commercial Loan 10, % 10, % 10, % 11, % 14, % 13, % 15, % 13.55% Total Loans 100, % 115, % 138, % 164, % 198, % 184, % 220, % 19.28% Gross Loan (IDR Trillion) Housing & Non-Housing Loans (%) Note: Figures on graph and table include Sharia Financing 16

17 Mortgages Growth Remained Strong Total Mortgage (IDR Billion) Mortgage Composition (%) Subsidized Mortgages (IDR Billion) Non-Subsidized Mortgages (IDR Billion) Note: Figures on all graphs include Sharia Financing 17

18 Loan Disbursement (IDR Trillion) IDR Billion IDR Bio Loans Type FY 2013 FY 2014 FY 2015 FY 2016 FY Months of Housing Loans 33,955 34,029 41,812 47,216 57,888 38,628 44, % Subsidized Mortgages 6,506 7,960 12,771 17,527 23,499 15,164 18, % Non-Subsidized Mortgages 14,286 12,629 13,404 14,315 16,803 11,635 13, % Other Housing Loans 2,500 2,416 2,418 1,823 1,825 1,375 1, % Construction Loan 10,663 11,023 13,219 13,551 15,761 10,455 11, % Non-Housing Loans 10,338 7,569 9,434 12,043 17,087 10,401 12, % Consumer Loan 2,389 2,564 4,268 4,779 6,578 4,474 3, % Commercial Loan 7,949 5,005 5,166 7,264 10,508 5,927 8, % Total Loans 44,293 41,598 51,246 59,259 74,975 49,030 56, % yoy Note: Figures on graph and table include Sharia Financing 18

19 Loan Quality NPL Continues to Improve Gross NPL Net NPL Note: Figures on all graphs include Sharia Financing 19

20 Loan Quality Breakdown Better Commercial Loans Collectibility 31-Dec Dec Dec Dec Dec Sep Sep-18 IDR Bn Share IDR Bn Share IDR Bn Share IDR Bn Share IDR Bn Share IDR Bn Share IDR Bn Share Current 84, % 95, % 116, % 142, % 176, % 157, % 191, % Special Mentioned 12, % 16, % 17, % 16, % 17, % 21, % 22, % PL 96, % 111, % 134, % 159, % 193, % 178, % 214, % Substandard % % % % % % % Doubtful % % % % % % % Loss 3, % 3, % 4, % 4, % 4, % 4, % 4, % NPL 4, % 4, % 4, % 4, % 5, % 5, % 5, % PL + NPL 100, % 115, % 138, % 164, % 198, % 184, % 220, % NPL Gross 4. 05% 4. 01% 3. 42% 2. 84% 2. 66% 3. 07% 2. 65% NPL Netto 3. 04% 2. 76% 2. 11% 1. 85% 1. 66% 2. 06% 1. 75% Loan Type (Gross) Housing Loans 3.80% 3.43% 2.79% 2.36% 2.31% 2.69% 2.42% Subsidized Mortgages Note: Figures on all tables include Sharia Financing 31- Dec 30- Sep 5.24% 3.96% 2.48% 1.52% 1.16% 1.49% 1.08% Non-Subsidized Mortgages 2.61% 2.51% 2.57% 2.65% 3.00% 3.35% 3.11% Other Housing Loans 3.17% 3.47% 3.44% 3.59% 4.09% 4.63% 4.22% Construction Loan 4.75% 5.13% 3.81% 3.21% 3.14% 3.53% 4.26% Non- Housing Loans 5.60% 8.51% 9.02% 7.14% 5.82% 6.78% 4.90% Consumer Loan 2.03% 2.55% 2.17% 1.35% 1.34% 1.73% 1.82% Commercial Loan 6.63% 10.16% 11.57% 9.44% 7.99% 8.87% 6.14% Total Loans 4.05% 4.01% 3.42% 2.84% 2.66% 3.07% 2.65% 20

21 Special-Mentioned Loan Special-Mentioned Loan Special-Mentioned by Loan Type Note: Figures on all graphs include Sharia Financing 21

22 Liabilities Sufficient to Support Loan Growth Total Liabilities (IDR Trillion) Funding Composition (IDR Trillion) Funding Composition (%) 22

23 Deposits Total Deposits Mix (IDR Trillion) Deposits FY 2013 FY 2014 FY 2015 FY 2016 FY Q Q 2018 yoy Current Account % Savings Account % Time Deposits % Total % CASA Composition (%) 23

24 Equity (#1/2) Total Equity (IDR Trillion) CAR BI 24

25 Equity (#2/2) Sep Sep-18 Tier - 1 Capital 9,879 10,736 12,172 16,443 18,728 16,784 19,032 Tier - 2 Capital ,721 3,776 3,368 3,547 2,946 Capital on B/S 11,557 12,253 13,860 19,131 21,663 20,590 23,250 RWA - Credit Risk 57,749 66,251 70,474 86, , , ,692 RWA - Market Risk ,042 1,008 RWA - Operational Risk 8,229 9,856 11,185 12,899 14,934 14,934 17,623 RWA - Total 66,262 76,333 81,882 99, , , ,323 CAR Tier 1/(Total RWA) 14.91% 14.07% 14.87% 16.54% 15.99% 14.01% 15.56% CAR B/S/(Total RWA) 17.44% 16.05% 16.93% 19.24% 18.50% 17.19% 19.01% CAR BI ((Tier 1+2)/(Total RWA)) 15.62% 14.64% 16.97% 20.34% 18.87% 16.97% 17.97% CAR Tier % 3.80% 2.88% 2.96% 2.41% Capital Conservation Buffer 0.63% 1.25% 1.25% 1.88% Countercyclical Buffer 0.00% 0.00% 0.00% 0.00% Capital Surcharge (D-SIB) 0.25% 0.50% 0.50% 0.75% 25

26 Income Statement (IDR Billion) FY 2013 FY 2014 FY 2015 FY 2016 FY M M 2018 yoy Interest Income 11,197 13,374 15,567 17,852 20,081 14,431 16, % Interest Expense (5,558) (7,893) (8,700) (9,600) (10,637) (7,884) (9,033) 14.58% Net Interest Income 5,639 5,482 6,867 8,252 9,444 6,547 7, % Other Operating Income ,132 1,285 1,612 1,209 1, % Other Operating Expense (4,301) (4,828) (5,465) (6,184) (7,164) (5,169) (6,179) 19.55% Profit From Operating 2,136 1,577 2,534 3,352 3,892 2,587 2, % Non Operating Income (Expense) (22) (30) (8) % Profit Before Tax 2,141 1,579 2,542 3,330 3,862 2,579 2, % Net Profit 1,562 1,146 1,851 2,619 3,027 2,005 2, % 26

27 Interest Income Composition (IDR Billion) FY 2013 FY 2014 FY 2015 FY 2016 FY M M 2018 yoy Placement with Bank Indonesia % Placement with other bank % Securities % Loan 9,605 11,353 13,523 15,458 17,387 12,510 14, % Income from Syariah ,042 1,256 1,553 1,077 1, % Total 11,197 13,374 15,567 17,852 20,081 14,431 16, % 27

28 Interest Expense Composition (IDR Billion) FY 2013 FY 2014 FY 2015 FY 2016 FY M M 2018 yoy Bank Indonesia Deposits from other Banks % Deposits from Non Banks 4,082 6,290 6,750 7,363 7,946 5,920 6, % Securities Issued ,088 1, , % Fund Borrowings % Others % Total 5,558 7,893 8,700 9,600 10,637 7,884 9, % 28

29 Other Operating Income Composition (IDR Billion) FY 2013 FY 2014 FY 2015 FY 2016 FY M M 2018 yoy Marked to market % Gain % Reversal on Provisions % Commissions, Services & Admin Fee* % Others* % Total ,132 1,285 1,612 1,209 1, % *) Reclassified 29

30 Other Operating Expense Composition (IDR Billion) FY 2013 FY 2014 FY 2015 FY 2016 FY M M 2018 yoy Provisions % Salaries & Employee Benefit 1,161 1,260 1,459 1,619 1,907 1,524 1, % Electricity, Telp, Office Supp % Others % Rent, Service & Maintenance % Depreciation % Promotion % Collector Fees & Consultant % Insurance Premium % Training % Research & Development % Other Taxes % Gain % Marked to Market % Allowance related to Operational Risk % Total 4,301 4,828 5,465 6,184 7,164 5,169 6, % 30

31 Key Financial Ratios (#1/4) Net Profit (IDR Billion) Net Interest Margin Cost to Income Ratio *) Reclassified 31

32 Key Financial Ratios (#2/4) ROA 1 Before Tax ROA 2 After Tax 1 Calculated based on income before income tax (include tax benefit and extraordinary item)/ average total asset based on Bank Indonesia regulation 2 Calculated based on net profit/average total asset 32

33 Key Financial Ratios (#3/4) ROE 3 Tier 1 Capital ROE 4 Balance Sheet 3 Calculated based on net profit/average Tier 1 Capital based on Bank Indonesia regulation 4 Calculated based on net profit/total stakeholder s equity 33

34 Key Financial Ratios (#4/4) Loan to Deposit Ratio Liquidity Coverage Ratio 34

35 Sharia Business 35

36 Sharia Business Sharia Net Profit (IDR Billion) Sharia Asset (IDR Billion) Sharia Deposits (IDR Billion) 36

37 Sharia Financings & NPF Sharia Financings (IDR Billion) Sharia Disbursement (IDR Billion) Sharia NPF (Gross) Sharia NPF (Net) 37

38 Appendices 38

39 Shares Information Share Ownerships Composition as of Sep 30, 2018 O wnership # of Shares % G O I 6,354,000, % Public 4,236,000, % - Domestic 1,704,675, % - Foreign 2,531,324, % Total 10,590,000, % Period Opening Lowest Highest Closing Average Volume (Lots) PBV (x) BVPS Market Cap (IDR Million) 3Q ,450 2,110 2,920 2, , ,195 27,851,700 3Q ,600 2,320 3,340 3, , ,944 33,358,500 % (yoy) -5.77% -9.05% % % % % 12.92% % IPO by listed on IDX on 17 December 2009 at IDR800 per share Rights issue successfully done in November 2012 by issuing additional new shares Market cap as of Sep 30, 2018 was IDR 27,85 Trillion 39

40 Outlets Sumatera Regional Offices 1 Branch Offices 12 Sub Branch Offices 44 Cash Outlets 61 Sharia Outlets 10 Priority Outlet 6 Post Offices 700 ATMs 274 Kalimantan Regional Offices - Branch Offices 6 Sub Branch Offices 18 Cash Outlets 20 Sharia Outlets 4 Priority Outlet 5 Post Offices 299 ATMs 104 Jawa Regional Offices 3 Branch Offices 46 Sub Branch Offices 192 Cash Outlets 363 Sharia Outlets 54 Priority Outlet 28 Post Offices 1,624 ATMs 1,480 Bali & Nusa Tenggara Regional Offices - Branch Offices 3 Sub Branch Offices 10 Cash Outlets 9 Sharia Outlets 1 Priority Outlet 2 Post Offices 141 ATMs 57 Sulawesi Regional Offices 1 Branch Offices 6 Sub Branch Offices 17 Cash Outlets 21 Sharia Outlets 4 Priority Outlet 2 Post Offices 126 ATMs 113 Papua & Maluku Regional Offices - Branch Offices 3 Sub Branch Offices 3 Cash Outlets 5 Sharia Outlets - Priority Outlet - Post Offices 61 ATMs Q2017 3Q2018 Regional Offices Branch Offices Sub Branch Offices Cash Outlets Sharia Outlets Priority Outlet Total Outlets Post Offices 2,922 2,951 2,951 2,951 2,951 2,951 2,951 ATMs 1,504 1,830 1,830 1,900 1,964 1,959 2,055 Employees 8,011 8,582 9,042 9,380 10,372 10,174 11,738 40

41 THANK YOU Investor Relations PT Bank Tabungan Negara (Persero) Tbk Menara BTN Lt Jl Gajah Mada No. 1 Jakarta Pusat Telp : / Facs : investor_ relations@btn.co.id Website : 41