2012 Hana Financial Group Business Results

Transcription

1 2012 Hana Financial Group Business Results - This information contained in this presentation material is not audited by a third party independent auditor and is subject to change - KEB s figures are reclassified under Hana Financial Group s standard and they could be not matching with figures from KEB s Business Results Release - FY2011 business results in this material refers to HFG only (before KEB integrated as a subsidiary of HFG) for the purpose of comparison with FY2012 business results

2 CONTENTS 2012 Financial Highlights Profitability Total Lending

3 2012 Financial Highlights - Profitability -Scale - -

4 Highlights_Profitability Net Income NIM Major Indices Group (Consolidated) Group ROE (Group) NIM Int. Income Cumulative 1,222 1, % 2.13% 3,206 4, % 1, % 1, % 8.10% * 3Q12* 4Q12* Hana Bank (Separated) * 3Q12* 4Q12* * Hana Bank ROA (Group) NIM Int. Income Cumulative 1, Q12 4Q12 KEB (Separated) 1.89% 1.70% 1.70% 1.59% 2,800 2, Q12 4Q12 KEB 0.76% 0.50% * C/I (Group) NIM Int. Income Cumulative 1, Q12 4Q % 2.36% 2.31% 2.23% 2,026 1, Q12 4Q12 * Credit Card included 54.0% 47.7% * 3

5 Highlights_Scale Total s KRW Loans Deposits (Avg. Balance) Group (Consolidated) Unit : Wtn Group Group , , , , , , , , , ,608 4Q11 1Q12* 2Q12* 3Q12* 4Q12* N.B.) Total s = Group + Trust Hana Bank (Consolidated) Unit : Wtn N.B.) Group = Hana Bank+KEB Hana Bank Hana Bank ,244 96,870 98,213 99,333 99, , , , , ,103 *Total s Includes Trust s KEB (Consolidated) Unit : Wtn KEB KEB ,874 45,581 47,646 49,372 49,805 62,138 61,879 61,829 63,315 62,505 *Total s Includes Trust s 4

6 Highlights_ NPL Ratios Group Delinquency Group Credit Cost Group 1.12% 1.27% 1.32% 1.37% 1.29% 0.63% 0.74% 0.76% 0.84% 0.75% 0.43% 0.49% 0.48% 0.53% 0.62% Hana Bank Hana Bank Hana Bank 1.04% 1.02% 1.03% 1.05% 1.03% 0.48% 0.44% 0.48% 0.50% 0.48% 0.36% 0.30% 0.28% 0.29% 0.40% KEB KEB KEB 1.18% 1.27% 1.37% 1.25% 1.17% 0.59% 0.70% 0.70% 0.81% 0.62% 0.67% 0.60% 0.63% 0.66% 0.75% 5

7 Highlights_ Group Hana Bank KEB BIS Ratio Tier1 Ratio BIS Ratio Tier1 Ratio BIS Ratio Tier1 Ratio 13.22% 9.43% 11.69% 8.45% 11.31% 8.27% 11.59% 8.23% 11.69%(E) 8.19%(E) 13.45% 9.61% 13.56% 9.65% 13.44% 9.79% 13.85% 9.87% 14.11%(E) 9.83%(E) 14.48% 11.95% 14.70% 12.27% 13.87% 11.80% 13.89% 11.39% 13.66%(E) 11.15%(E) Tier 1 Tier 2 Tier 1 Tier 2 Tier 1 Tier 2 17,350 5,045 23,704 6,653 23,418 6,365 24,319 7,152 24,152(E) 7,226 11,574 3,304 11,990 3,458 11,949 3,250 12,489 3,583 8,906 12,431(E) 3,778 8,653 8,604 1,502 8,883 1,466 8,887 1,326 9,304 1,677 7,627 9,332(E) 1,710 7,622 17,122 17,123 17,270 16,926 8,271 8,533 8,699 7,102 7,417 7,561 12,378 * Excluding year end dividend * Excluding year end dividend * Excluding year end dividend 6

8 Profitability - Group Consolidated Earnings - Business Result of Subsidiaries -NIM - Non-Interest Income/SG&A Expense

9 Group Consolidated Earnings Group Consolidated Earnings FY 2012* FY Q12* 3Q12* General Operating Income HFG Only 1,600 General Op. Income 6, , , ,637.4 Int. Income 4, , , , ,419 1,931 1,592 1,637 1,500 6,761 Fee Income 1, , Disposition / Valuation Other Income (136.3) (287.9) (191.1) (167.7) SG&A 3, , , PPOP 3, , Provision 1, Op. Income 1, , Net Income 1, ,222.4 (44.7) SG&A Provision Q12* 2Q12* 3Q12* 4Q12* 2012* HFG Only 2, ,121 1,500 3, Q12* 2Q12* 3Q12* 4Q12* 2012* HFG Only , , Q12 2Q12 3Q12 4Q

10 Business Result of Subsidiaries Net Income of Subsidiaries 30% * Separated 기준 FY 2012* FY Q12* 3Q12* 지분율 (%) Hana Bank ,206.8 (15.8) % KEB % Hana Daetoo Securities (2.3) 100.0% Hana % Hana SK Card** (29.6) 25.5 (10.0) (19.0) 51.0% Hana Daol Trust % Hana Savings Bank (42.0) - (18.4) (8.2) 100.0% Other Subsidiaries & Consolidation Adjustment* (32.1) (149.2) (78.0) (75.0) Group Consolidated Net Income * 1, ,222.4 (44.7) ** Hana Sk Card: Consolidated 9

11 NIM NIM NIS Trend Group Group NIM Int. Income 2.06% 2.18% 2.20% 2.12% 2.01% Lending Rate 5.36% 5.17% 5.16% 4.98% 4.72% Hana Bank KEB NIM 808 1, % 689 Int. Income 1.72% 675 1, % 689 1, % 672 1,141 4Q11 1Q12* 2Q12* 3Q12* 4Q12* 1.59% 639 Funding Rate 3.40% 3.11% 3.08% 3.00% 2.85% NIS 1.96% 2.06% 2.08% 1.98% 1.87% Hana Bank Lending Rate 5.00% 5.00% 5.01% 4.83% 4.55% Funding Rate 3.34% 3.34% 3.30% 3.21% 3.05% NIS 1.66% 1.66% 1.71% 1.62% 1.50% KEB NIM 2.52% Int. Income 2.48% 2.43% 2.31% 2.23% Lending Rate 4.93% 4.88% 4.82% 4.64% 4.44% Funding Rate 2.59% 2.58% 2.56% 2.50% 2.39% NIS 2.34% 2.30% 2.26% 2.14% 2.05% 10

12 Non-Interest Income/SG&A Non-Interest Income FY 2012* FY Q12* 3Q12* Fee Income 1, , Credit Card Group Fee Income Trend Bank Fee Income Guarantee Loan & Other FX HFG Only 425 1,639 Operating Lease (0.8) (2.1) , Non Bank Fee Income Beneficiary Cert. Sales Wrap & Operation Brokerage Q12* 2Q12* 3Q12* 4Q12* 2012* Trust Fees Bancassurance M&A Group C/I Ratio Other (31.6) (30) (4.8) (5.2) C/I Ratio (Cumulative) SG&A Disposition / Valuation Other Income (136.3) (287.9) (191.1) (167.7) Total 2, , % 39.6% 45.7% 49.0% 54.0% 1,121 SG&A HFG Only 918 3,648 FY 2012* FY Q12* 3Q12* Salary & Benefits 1, , Retirement Benefits Admin. Expense 1, Tax /Depreciation Total 3, , , Q12* 2Q12* 3Q12* 4Q12* 2012* 11

13 Total Lending - Group Total s/total Liabilities & Equity - Hana Bank KRW Loans / Deposits - KEB KRW Loans / Deposits

14 Group Total s/ Total Liabilities & Equity Group Total s Group Total s Trend 1) Unit : Wtn FY 2012* % 3Q12* FY 2011 Cash & Deposits 18, ,090 11,053 Securities 43, ,332 27,017 Loans 196, , ,182 KRW Loans 149, ,444 99,939 Tangible s 2, ,666 1,495 Other s 21, ,229 9,482 Total s 282, , ,229 + Trust s 65,239 73,238 40,387 Group Total s 347, , , Q12* 2Q12* 3Q12* 2012* 1) Total s = Group + Trust Group Liabilities & Equity Subsidiaries Total s Unit : Wtn FY 2012* % 3Q12* FY 2011 Deposits 177, , ,552 Borrowings 54, ,626 43,923 Debt 15, ,893 10,654 Debentures 32, ,871 28,481 RP, Call Money,etc 6, ,862 4,788 Other 31, ,139 14,933 Total Liabilities 262, , ,408 Total Equity 19, ,012 14,821 Liabilities & Equity 282, , , Hana Bank* KEB* * Consolidated + Trust 19 Hana Daetoo 8 Hana SKCard 19 Hana Daol Trust* 13

15 KRW Loans/Deposits_Hana Bank KRW Loans FY 2012 % 3Q12 FY 2011 Corporate Loans 44, ,841 44,331 Large Corp. 15, ,091 14,835 SME 29, ,749 29,496 (SOHO) 11, ,512 10,439 Household 53, ,673 50,887 Secured 43, ,120 41,318 (Mortgage) 32, ,476 30,563 Unsecured 9, ,552 9,569 Public & Other 1, ,820 2,026 Total 99, ,333 97,244 KRW Loans Growth (YTD) +0.4 Large Corp Household Public & Other -0.3 SME Unit : Wtn Wtn (+2.4%) Deposits (Avg. Balance) FY 2012 % 3Q12 FY 2011 KRW Deposits 101, ,319 99,648 Core Deposits 13, ,169 12,485 MMDA 14, ,921 14,953 Time Deposits 69, ,777 68,804 Demand Deposits 3, ,097 2,724 CD FC Deposits 4, ,059 4,504 Total 105, , ,152 Low-Cost Deposit Trend (Core Deposits + MMDA) Low-Cost Deposit Core Deposits MMDA 26.3% 27.0% 26.5% 25.9% Unit : Wtn 26.1%

16 KRW Loans/Deposits_KEB KRW Loans FY 2012 % 3Q12 FY 2011 Corporate Loans 25, ,179 23,203 Large Corp. 11, ,924 8,295 SME 14, ,255 14,908 (SOHO) 2, ,448 2,262 Household 21, ,408 19,709 Secured 16, ,550 15,257 (Mortgage) 13, ,801 12,377 Unsecured 5, ,858 4,452 Credit Card 2, ,488 2,563 Public & Other Total 49, ,372 45,874 Deposits (Avg. Balance) FY 2012 % 3Q12 FY 2011 KRW Deposits 48, ,135 48,774 Core Deposits 10, ,987 9,934 MMDA 5, ,672 5,534 Time Deposits 30, ,473 31,495 Demand Deposits 2, ,892 1,366 CD FC Deposits 13, ,180 13,365 Total 62, ,315 62,138 KRW Loans Growth (YTD) Large Corp Househ old Public & Other +3.9Wtn (+8.6%) -0.8 SME Unit : Wtn FC Deposits Trend FC Deposit 21.5% 12.5 FC Deposits 22.3% 22.8% Credit Card 24.0% 15.2 Unit : Wtn 22.4%

17 - Group - Hana Bank - KEB -Provision

18 _Group Group Group New NPL Formation FY Q12 FY 2011 Total Credits 214, , ,047 Normal 207, , ,787 Precautionary 3,938 3,674 1,769 HFG Only Standard 1,412 1, Doubtful Estimated Loss NPL Amount 2,769 2,971 1,491 4Q11 1Q12* 2Q12 3Q12 4Q12 * KEB Acquisition Group NPL /Precautionary & below Ratio NPL Ratio 1.29% 1.37% 1.12% Precautionary & below NPL NPL Coverage Ratio 143.4% 135.8% 148.9% Loan Loss Allowance 3,971 4,033 2, % 2.97% 2.85% 3.06% 3.12% Loan Loss Reserves 2,389 2,432 1,279 Credit Loss Reserves 1,582 1, % 1.27% 1.32% 1.37% 1.29% 4Q11 1Q12* 2Q12 3Q12 4Q12 * KEB Acquisition 17

19 _Hana Bank Hana Bank FY Q12 FY 2011 NPL Ratio/Coverage Ratio Coverage Ratio NPL Total Credits 118, , ,536 Normal 115, , ,696 Precautionary 1,847 1,846 1, % 1.04% 157.1% 1.02% 158.5% 1.03% 160.8% 1.05% 170.4% 1.03% Standard Doubtful Estimated Loss NPL Amount 1,218 1,254 1,230 NPL Ratio 1.03% 1.05% 1.04% Delinquency Ratio Trend Total Corp. Household 0.57% NPL Coverage Ratio 170.4% 160.8% 153.8% Loan Loss Allowance 2,076 2,017 1, % 0.48% 0.45% 0.50% 0.53% 0.48% Loan Loss Reserves 1,074 1, Credit Loss Reserves 1,002 1, % 0.44% 0.43% 0.48% 0.44% 0.42% 18

20 _KEB KEB NPL Ratio/Coverage Ratio FY Q12 FY 2011 Coverage Ratio NPL Total Credits 76,270 76,544 73,108 Normal 74,064 74,442 71, % 139.0% 132.0% 137.1% 141.1% Precautionary 1,315 1,149 1, % 1.27% 1.37% 1.25% 1.17% Standard Doubtful Estimated Loss NPL Amount NPL Ratio 1.17% 1.25% 1.18% Delinquency Ratio Trend Total Corp. Household 0.86% NPL Coverage Ratio 141.1% 137.1% 145.1% Loan Loss Allowance 1,258 1,307 1,257 Loan Loss Reserves Credit Loss Reserves % 0.59% 0.34% 0.70% 0.68% 0.59% 0.71% 0.70% 0.54% 0.81% 0.58% 0.62% 0.61% 0.49% 19

21 Provision Group Provision Overview Subsidiaries' Provision Overview Credit Cost 0.43% Provision 0.49% 0.48% 0.53% 0.62% Hana Bank Provision Overview (Separated) Hana Bank KEB Hana Daetoo Hana SK Card Hana Bank Provision Break-down Hana Savings Bank Hana Other, Consolidation Adjustment Group Credit Cost Provision 0.36% 0.30% 0.28% 0.29% 0.40% Household Deterioration Deterioration Other 4Q12 KEB Provision Overview (Separated) KEB Provision Break-down Credit Cost Provision 0.75% % 0.60% 0.63% 0.66% Corp. Household Deterioration Deterioration Other 4Q12 20

22 - _Group - _Bank

23 _Group Group Core Tier1 Ratio BIS Ratio Tier1 Ratio Tier 1 Tier % 11.69% 11.69%(E) 11.59% 11.31% 9.43% 8.45% 8.27% 8.23% 8.19%(E) 9.02% 7.93%(E) 8.07% 7.90% 7.87% 17,350 23,704 6,653 23,418 6,365 24,319 7,152 24,152(E) 7,226 Debt to Equity Ratio 28.05% 29.35% 28.86% 28.24% 28.00%(E) 5,045 12,378 17,122 17,123 17,270 16,926 Double Leverage Ratio % % % %(E) 87.23% * Excluding year end dividend 22

24 _Bank Hana Bank KEB BIS Ratio Tier1 Ratio Tier 1 Tier 2 BIS Ratio Tier1 Ratio Tier 1 Tier % 9.61% 11,574 3, % 9.65% 11,990 3, % 9.79% 11,949 3, % 9.87% 12,489 3, %(E) 9.83%(E) 12,431(E) 3, % 11.95% 8,604 1, % 12.27% 8,883 1, % 11.80% 8,887 1, % 11.39% 9,304 1, %(E) 11.15%(E) 9,332(E) 1,710 8,906 8,653 7,627 7,622 7,561 8,271 8,533 8,699 7,102 7,417 * Excluding year end dividend 23

25 -Major Indices - KEB Share Swap

26 Major Indices Group (Consolidated) Unit : KRW (Cumulative) FY 2012* 3Q12* FY 2011 ROA 0.50% 0.67% 0.76% ROE 8.10% 11.29% 9.12% EPS(KRW) 4,951 5,156 5,097 BPS(KRW) 62,362 63,109 57,180 C/I Ratio 54.0% 49.0% 47.7% Hana Bank (Separated) Unit : KRW (Cumulative) FY Q12 FY 2011 ROA 0.40% 0.55% 0.81% ROE 5.69% 7.83% 11.72% EPS(KRW) 2,716 2,804 5,305 BPS(KRW) 49,798 50,105 46,160 C/I Ratio 55.1% 50.3% 43.0% KEB (Separated) Unit : KRW (Cumulative) FY Q12 FY 2011 ROA 0.63% 0.75% 1.64% ROE 7.30% 8.74% 18.51% EPS(KRW) ,487 BPS(KRW) 13,505 13,444 12,722 C/I Ratio 50.5% 47.0% 35.2% 25

27 KEB Share Swap - Brief overview of Transaction - Procedures & Timeline - Terms & Conditions

28 Brief overview of Transaction Transaction Rationale Governance Increase Management Efficiency Improve Group Integrity Synergy Possible early synergy creation - by eliminating any conflict of interest between parent and subsidiary. Cost Efficiency & Dividend Tax efficient structure Shareholder management cost reduction Basel3(Minority interest issue dismissed) Structural change of HFG through the Transaction Current structure Post share swap transaction HFG KEB minority shareholders HFG 16.9% (2) Former KEB minority shareholders 60% 40% 100% Hana Bank Hana SK Card Hana Daetoo Securities KEB Hana Bank Hana SK Card Hana Daetoo Securities KEB Transaction overview Transaction method: Share swap (exchange ratio: 1 KEB share to be swapped with HFG shares) Outstanding KEB stake value: 40% stake amounting to KRW 1,891 bn (1) Number of shares to be assigned to KEB shareholders: 46,844,299 newly issued shares and 2,020,000 treasury shares Stake % in HFG of KEB minority shareholders post share swap: 16.9% (2) * Note: (1) based on share swap price of 7,330 won (2) stake % on the assumption of no exercise of dissenting shareholders rights 27

29 Procedures & Timeline Board of Directors Meeting Shareholder List Confirmation Shareholder s Meeting Announcement Shareholder s Meeting [Appraisal Rights exercise period] Share Swap Date 1/28(Mon) 2/15(Fri) 2/28(Thurs) 3/15(Fri) 3/25(Mon) 4/5(Fri) D-day D+18 D+31 D+46 D+56 D+67 Key Events Date Date of BOD Resolution Share Exchange Agreement signed : On the Day - Securities Registration : On the Day - Base Date & Shareholder Record Date Announcement : On the Day - Period of exercising Appraisal Rights : Until Before Shareholder s Meeting Shareholder s Meeting Announcement Date Shareholder s Meeting Share Swap Date (D+31) (D+46) (D+67) - Shareholder s Meeting to be requested and announced - Appraisal Rights exercise period: ~ Date of share purchase payout : April 25th (KEB shareholders : April 2 nd (E), payout before trading suspension) - Listing of new shares and de-listing of KEB : April 26 th,

30 Terms & Conditions Terms & Conditions Share Exchange Ratio No. of shares to be assigned to KEB shareholders HFG KEB 1: (1 KEB share to be swapped with HFG shares) Total of 48,864,229 shares - Newly issued shares: 46,844,299 shares - Treasury Stocks: 2,020,000 shares Swap Price KRW 38,695 KRW 7,330 Put-back Option Price KRW 37,581 KRW 7,383 * In case that each of HFG and KEB dissenting shareholders would exceed KRW 1 trillion respectively, Transaction will be aborted Changes in HFG shares outstanding Pre-Transaction Post-Transaction Total No. of shares issued (HFG) 243,049, ,894,062 30