PT Bank Tabungan Negara (Persero) Tbk. Business & Financial Performances as of 30 June 2010

Transcription

1 PT Bank Tabungan Negara (Persero) Tbk. Business & Financial Performances as of 30 June 2010

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 Table of Contents Balance Sheet Highlights Income Statement Highlights Key Financial 2010 Initiatives Supporting Data 3

4 Share Ownerships Composition as of 30 June 2010 Ownerships # of Shares % Public Share Ownerships Domestic Foreign GOI % Public % 40.30% 49.11% 55.65% 61.45% - domestic % - foreign % 59.70% 50.89% 44.35% 38.55% IPO Dec 09 Mar 10 Jun Total number of shares : As of 30 June 2010, BBTN closed at IDR The price has been steadily increasing by 112.5% since the IPO date 17 Dec 09. Market cap is IDR 14.8 Trillion or equal to USD 1.6 Billion 4

5 FINANCIAL HIGHLIGHTS FY 2009 Q % Q Q Y.O.Y % Total Asset (idr million) ,15% ,14% Total Loan & Financing Gross (idr million) ,95% ,61% Total Deposits (idr million) (0,54%) Equity (idr million) ,41% ,69% ,62% Net Profit (idr million) ,11% CAR (Tier 1 BI) 20,52% 21,75% 17.65% 18,71% 14.57% 15.59% 17.65% 18,71% NPL (Gross Net) 3,36% 2.75% 4,12% 3,43% 4,03% 3,39% 4,12% 3,43% NIM 4,65% 5,81% 4,04% 5,81% CIR 68.69% 59.09% 70.40% 59.09% Coverage Ratio 51,34% 45,34% 41,85% 45,34% ROE (balance sheet) 14.14% 14,08% 12,43% 14,08% 5

6 in IDR Billion FY 2009 Q % Q Q Y.O.Y BALANCE SHEET HIGHLIGHTS Total Asset ,15% ,14% Total Earning Asset ,73% ,96% - SBI (38,52%) ,59% - Loans & Financing ,95% ,61% - Government Bonds (5,56%) (5,01%) - Other Earning Asset (39,98%) (61,18%) Provision on Earning Asset (719) (910) 26,40% (641) (910) 41,96% Total Non Earning Asset (8,48%) ,85% Third Party Deposits (0,54%) ,69% Securities Issued ,12% ,18% Deposits from Other Banks ,16% ,21% Repurchase Agreements ,88% ,46% Other Interest Bearing Liabilities ,40% ,80% Non Interest Bearing Liabilities ,74% ,19% Equity ,41% ,62% 6

7 Total Asset Compositions Total Assets (IDR tr) Assets Compositions (%) 9.1% 9.3% 9.7% 9.5% % 90.7% 90.3% 90.5% Des08 Des09 Jun09 Jun10 Non Earning Asset Earning Asset As of 30 June 2010, total assets stood at IDR 60,9 trillion or US$ 6,7 billion, of which 90,5% was comprised of earning assets and the rest 9,5% was of non earning assets. The earning assets are mainly loan and financing with 81,6% and government bond with 12,3%. As one of our strategies to have a better NIM, we are trying to swap the bond with loan, which will give us higher yield. 77.2% Earning Asset Compositions (%) SBI Loans&Financing Gov Bonds Other Earning Asset 3.6% 2.8% 9.6% 5.6% 75.8% 79.3% 81.6% 17.9% 13.7% 16.3% 12.3% 1.3% 0.9% 1.6% 0.5% Des08 Des09 Jun09 Jun10 7

8 Total Loans Compositions 2008 Jun-09 Des 2009 Jun-10 IDR Bio Comp IDR Bio Comp IDR Bio Comp IDR Bio Comp Housing Loans 30, % 33, % 38, % 42, % Subsidized Mortgages 14, % 16, % 18, % 20, % Non-Subsidized Mortgages 10, % 11, % 12, % 14, % Other Housing 2, % 2, % 2, % 3, % Construction Loan 2, % 3, % 3, % 4, % Non-Housing Loans 1, % 1, % 2, % 3, % Consumer Loan % % % % Commercial Loans % 1, % 1, % 2, % Total Loans 32, % 35, % 40, % 46, % Total loans stood at IDR 46,4 trillion or US$ 5,1 billion at 30 June 2010, grew about 14% from 31 Dec 2009 Gross loans grew by a CAGR of 22.2% from We plan to have a bigger portion of non housing loan to gain better yield and shorter duration of asset Gross Loans (IDR tr) Housing & Non Housing Loan Non Housing Loan Housing Loan 2.4% 4.6% 6.0% 5.2% 7.8% % 95.4% 94.0% 94.8% 92.2% 8

9 Strong Growth in Mortgages 18,243 Total Mortgages (IDR bn) 31,570 28,296 25,391 34,872 We have total outstanding mortgages of IDR 34,9 trillion or US$3,8 billion, which is 75% of our total loans & financing of IDR 46,4 trillion. Today, our mortgage portfolio comprises (i) government-subsidized mortgages at 60% of our mortgage portfolio, and (ii) non-subsidized mortgages at 40% of our mortgages portfolio Subsidized Mortgages (IDR bn) Non-Subsidized Mortgages (IDR bn) 10,814 14,433 18,909 16,818 20,783 7,429 10,958 12,661 11,478 14,089 Note : Figures on all graphs are Included Sharia housing financings 9

10 New Loan Disbursement and Sharia Financing 2,300 2,100 1,900 1,700 1, ,632 1,854 1,922 1,692 1,394 2,012 1, ,205 1,558 1,300 1, , ,131 1,233 1,357 1,259 Jan Feb Mar Apr Mei Jun Jul Agt Sep Okt Nov Des New Disbursement 2009 New Disbursement ,254 1,403 1,297 Monthly new loan disbursement and sharia financing in 2010 are much higher than those in 2009 Total loans disbursement and new financing in 2 nd quarter 2010 with the amount of IDR 10,2 Trillion are much higher than those in 2 nd quarter 2009 with the amount of IDR 7,1 Trillion Total mortgage loan disbursement IDR 5,1 Trillion consist of IDR 2,5 Trillion of subsidized mortgage and IDR 2,6 Trillion of non subsidized mortgage 10

11 Strong Asset Quality with Low Non-Performing Loans Gross NPL Net NPL 4.75% 4.50% 4.25% 3.93% 4.00% 3.75% 3.50% 3.25% 3.00% 2.75% NPL Gross 3.74% 4.22% 4.00% 4.18% 4.39% 4.12% 4.14% 4.09% 4.03% 4.05% 4.06% 4.03% 4.01% 3.94% 3.96% 3.91% 3.35% Jan Feb Mar Apr Mei Jun Jul Agt Sep Okt Nov Des NPL Gross 2009 NPL Gross % 3.50% 3.25% 3.00% 2.75% 2.50% 2.25% NPL Netto 3.37% 2.98% 3.61% 3.18% 3.52% 3.28% 3.73% 3.36% 3.48% 3.51% 3.39% 3.43% 3.44% 3.43% 3.36% 3.35% 3.25% 2.72% Jan Feb Mar Apr Mei Jun Jul Agt Sept Okt Nov Des NPL Netto 2009 NPL Netto 2010 Gross NPL relatively stable at 4,12% in June 2010 slightly higher than 4.03% in June 2009 Net NPL is at 3.43% in June 2010 slightly increased compare to 3.39% in June

12 Strong Asset Quality with Low Non-Performing Loans (continued..) COLLECTIBILITY Des-2008 Jun-09 Des-09 Jun-10 Loan Type Jun Des Jun Outs. Share Outs. Share Outs. Share Outs. Share Current 27, % 29, % 34, % 37, % Special Mentioned 3, % 4, % 5, % 6, % PL 31, % 34, % 39, % 44, % Substandard % % % % Doubtful % % % % Loss % % 1, % 1, % NPL 1, % 1, % 1, % 1, % PL + NPL 32, % 35, % 40, % 46, % NPL Gross 3.20% 4.03% 3.36% 4.12% NPL Netto 2.66% 3.38% 2.75% 3.43% NPL Housing Loans 4.00% 3.42% 4.05% Subsidized Mortgages 4.66% 3.83% 4.66% Non-Subsidized Mortgages 3.34% 2.79% 3.37% Other Housing 4.10% 4.56% 3.56% Construction Loan 2.78% 2.61% 3.68% Non-Housing Loans 4.71% 2.16% 4.98% Consumer Loan 6.82% 0.87% 3.44% Commercial Loans 3.56% 2.53% 5.50% Total Loans 4.03% 3.36% 4.12% 12

13 Total Liabilities Compositions 33.9 Total Liabilities (IDR tr) Total funding stood at IDR52,8 Trillion at 30 June 2010, of which 75% comprised of third party deposits Significant improvement in cost of funding in The COF in June 2010 at 5,37% is much lower compare to that in Dec 2009 at 6,72%. Total Funding (IDR tr) Repurchase Agreements Securities Issued Borrowings and Deposits from Other Banks Third Party Deposits Third Party Deposits (IDR tr) 40,2 34,2 31,4 24,2 59,5% TD 67,5% SA 61,1% 22,2% CA 29,6% 23,5% 9,3% 9,1% 18,3% 69,9% 21,5% 40,0 68,3% 22,0% 8,6% 9,7% 13

14 Total Equity Compositions Total Equity (IDR tr) CAR Tier % 20.5% 18.5% 17.7% 14.8% 14.6% Des07 Des08 Des09 Jun09 * Jun10 * Jun10 ** *) CAR formula : Tier 1/(RWA Credit + Market Risk) **) CAR formula : Tier 1/(RWA Credit + Market + Ops Risk) 2008 Q Q Tier - 1 Capital 2,959 3,181 5,260 5,425 Tier - 2 Capital Capital on B/S 3,078 3,151 5,462 5,539 RWA - Credit Risk 19,620 20,647 25,358 29,162 RWA - Market Risk RWA - Operational Risk ,387 RWA - Total 19,982 20,663 25,635 30,730 CAR Tier 1/(RWA Credit + Market Risk) 14.81% 14.40% 20.52% 18.49% CAR Tier 1/(RWA Credit + Market + Ops Risk) 17.65% CAR B/S/(RWA Credit + Market Risk) 15.41% 14.54% 21.31% 18.88% CAR B/S/(RWA Credit + Market + Ops Risk) 18.02% CAR BI ((Tier 1+2)/(RWA Credit + Market Risk) 16.14% 15.78% 21.75% 18.82% CAR BI ((Tier 1+2)/(RWA Credit + Market + Ops Risk) 18.71% Lending on mortgages is more capital efficient as mortgages carry a 40% risk weighting compared to 100% for normal commercial loans CAR Tier-1 slightly down by 84bps after taking into account the operational risk from 18.49% to 17.65%. 14

15 in IDR Billion FY 2009 Q Q YOY INCOME STATEMENT HIGHLIGHTS Interest Income Interest Expense (3.428) Net Interest Income Other Operating Income 265 Other Operating Expense (1.763) Profit from Operation 739 Non Operating Income (Expense) 6 Profit Before Tax 746 Net Profit (1.793) (765) 318 (5) (1.484) (1.039) ,67% (17,23%) 59,48% 97,41% 35,82% 71,38% 700% 74,76% ,47% 15

16 Interest Income Composition Item FY 2008 FY 2009 % Q Q % Loans 3,508 4, % 2,179 2, % Recapitalization Bonds % % Securities % % IRS receivables % % Placement with other bank % % Current Acc. With Bank Indonesia % % Securities under resale Agreements % % Fee & Commissions % % Income from Sharia % % INTEREST INCOME 4,567 5, % 2,764 3, % Q

17 Interest Expense Composition Item FY 2008 FY 2009 % Q Q % Third Party Deposits 1,862 2, % 1,452 1, % Securities issued % % Fund borrowings % % Securities under repo % % Others % % INTEREST EXPENSE 2,607 3, % 1,793 1, % Q

18 Other Operating Income Composition Item FY 2008 FY 2009 % Q Q % Adm Fees on dep & loans % % Gains - net % % Bank Services % % Collection services - payment points % % Others % % OTHER OPERATING INCOME % % Q

19 Other Operating Expense Composition Item FY 2008 FY 2009 % Q Q % Provision (reversal) % % Salaries & Employee Benefits % % General & Adm. Exp % % Premium on Gov's guarantee program % % Losses % % Others % % OTHER OPERATING EXPENSE 1,508 1, % 769 1, % Q

20 Key Financials Net Interest Margin Cost to Income Ratio Net Income (IDR Bn) 5.1% 5.1% 4.7% 4.0% 5.8% 70.3% 69.0% 68.7% 70.4% 59.1% % 12.40% 12.55% 12.59% 12.61% 12.60% 12.58% 12.55% 12.53% 12.51% 12.45% 12.47% 11.33% 11.45% 11.65% 11.64% 11.64%11.62% % 7.87% 7.80% 7.70% 7.60% % 7.38% 7.25% 7.11% 6.96% 6.85% 6.72% 5.55% 5.59% 6.10% 5.96% 5.81% 3.36% 3.77% 3.87% 3.95% 4.01% 4.07% 4.11% 4.17% 4.31% 4.43% 5.50% 5.43% 5.38% 5.33% 5.37% 4.51% 4.65% 4.65% 5.42% Interest Income Cost Of Fund NIM Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 20

21 Key Financials (cont d) ROA 1 before tax ROA 2 after tax 1.9% 1.8% 1.9% 1.4% 1.5% 1.3% 1.2% 1.1% 1.0% 0.8% ROE 3 tier 1 capital ROE 4 balance sheet 21.4% 19.6% 18.2% 12.5% 14.4% 16.5% 14.5% 14.1% 12.4% 14.1% * 1 Calculated based on income before income tax (include tax benefit and extraordinary item)/ average total assets based on Bank Indonesia regulation 2 Calculated based on net profit/average total assets 3 Calculated based on net profit/average Tier 1 capital based on Bank Indonesia regulation 4 Calculated based on net profit/average total stakeholder s equity 21

22 Key Financials (cont d) Loan-to-Deposit Ratio Loan-to-Funding Ratio 92.4% 101.8% 101.3% 104.7% 116.0% 69.7% 81.4% 80.6% 82.7% 87.9% Bank Indonesia s formula which does not include other sources of fund besides third party deposits is the cause of LDR above 100%. Loan to Funding ratio, which takes into account the whole funding sources, is still below 90%. 22

23 Sharia Business is a New Growth Area Sharia Assets (IDR bn) 2,652 2,256 1,556 1, Sharia Financings (IDR bn) BTN s Sharia business was established in 2004 and offers a wide range of Sharia-compliant financing and deposit products. Total asset run by Sharia Unit as of 30 June 2010 was IDR 2.65 Trillion. As at 30 June 2010, BTN has 21 Sharia branches and 164 Sharia channeling outlets across Indonesia. We plan to leverage on our current branch network to open more Sharia channeling outlets Sharia Deposits (IDR bn) 2,408 1,251 1,996 1,522 1, , Q Q Q Q

24 2010 INITIATIVES 24

25 Initiatives done so far in the beginning of 2010 as foundations to step forward in achieving the ultimate goal. Started the hiring processes of all experienced professionals to start new business units such as Card Business & Electronic Banking, Bancassurance and Priority Banking On going since Jan 2010 Connected 555 New Postal Offices on-line with Bank BTN (host to host on-line connection) June 2010 As of today, there are more than postal offices connected on-line with Bank BTN The launching of Batara Debit Visa Card 9 Feb 2010 and expected hard launching in August 2010 New Organization Structure implementation 1 Mar 2010 E-Loan (Loan Origination System) Pilot Project I and II Phase June 2010 (Tengerang, Karawaci, Bekasi, Cikarang, BSD, Cibubur, Ciputat, Depok, Kebon Jeruk, Cawang) E-Coll (Collection and Recovery System) Pilot Project I June 2010 (Tangerang) Opened 98 new kiosk (small cash branch) up to June 2010 Small outlet especially design for funding only purposes. Spreading all over residential areas in Jabodetabek and other big cities all over Indonesia 25

26 THANK YOU

27 SUPPORTING DATA 27

28 Experienced Management Team Appointed in Dec 07 Iqbal Latanro, President Director CEO Managing Internal Audit and Corporate Secretary Divisions and Change Management Office. Evi Firmansyah, Vice President Director COO Managing Information, Communication & Technology, Logistic & Network Division and Operation & Business Support Divisions. Sunarwa, Managing Director CRO Managing Risk Management, Human Capital Divisions. Also, Compliance and Legal & Loan Document Desks Saut Pardede, Managing Director CFO Managing Planning & Performance Management, Finance Accounting, Treasury and Collection & Workout Divisions Irman A Zahiruddin, Managing Director Consumer Banking Managing Mortgage & Consumer Lending and Consumer Funding & Services Divisions. Also, Card Business & Electronic Banking, Post Office Alliance and Priority Banking & Bancassurance Desks Purwadi, Managing Director Commercial Banking Managing Housing & Commercial Lending, Commercial Funding & Services and Syariah Divisions 28

29 Experienced Board of Commissioner Appointed in May 08 and May 2010 Zaki Baridwan, President Commissioner Independent Commissioner Was a President Commissioner PT Bank BNI Tbk, Dean Faculty of Economics Gadjah Mada University and Director of Graduate Program. Gatot Mardiwasisto, Commissioner Presently an Assistant for Deputy of Banking Enterprise Affairs in State Ministry of State-Owned Enterprise (MSOE), was a Commissioner PT BNI Securities and Director of Finance Kliring Berjangka Indonesia Ltd. Co Subarjo Joyosumarto, Commissioner Independent Commissioner Presently a President Director Indonesia s Banking Development Institution, was a Chairman of Board of Supervisory Directors of Indover Bank in Amsterdam, Netherland, Executive Director The South East Asia Central Banks Research & Training Centre and Deputy Governor of Bank Indonesia Mulabasa Hutabarat, Commissioner Presently a Head of Pension Fund Bureau Bapepam-LK of Ministry of Finance Republic of Indonesia, was a Commissioner of PT Pelindo and Head of Organizing Committee of Recapitalized Bank Monitoring Team Deswandhy Agusman, Independent Commissioner Presently an Expert Advisor of PNM Investment Management, was a Commissioner of Bank Permata and Commissioner of Bank BRI. The assigment of Mr. Deswandhy Agusman as Independent Commissioner of Bank BTN will be effective after the fulfillment of the requirements as stipulated under the applicable laws and regulations by Bank Indonesia 29

30 30

31 BTN s Distribution Network & Large Customer Base KALIMANTAN 50 SULAWESI SUMATERA 1 21 JAWA 372 BTN Branches BALI BTN Sharia Branches Post office outlets connected electronically with BTN, out of 3,572 nationwide MALUKU 3 55 IRIAN JAYA 2 27 Distribution channel includes: 542 ATMs Over 17,000 ATMS linked to the Link and ATM Bersama Network Note: As OF 30 June 2010 BTN has a large customer base, with approximately 1.1 million loan accounts and approximately 4,1 million deposit accounts (as at June 2010) Our large customer base provides us with a strong platform to cross-sell our products and services and expand the size of our non-housing loan portfolio 31

32 Subsidized Housing Loan (SHL) Program There are two types of subsidy offered: Subsidy on down payment - The Government pays the down payment and the borrowers pay commercial interest rates Subsidy on interest - The Government pays a portion of the commercial interest charged by the lender; the interest rate for these borrowers are capped at a certain level depending on the loan age IDR mil Category House: Limits on the two types of subsidy Interest payment subsidy Down payment subsidy Maximum purchase price I 1.7 <income II 1.0 <income III Apartment: I 3.5 <income II 2.5 <income III Note: The tables are only apply to convential type of mortgage Schedule of max rates paid by debtors on interest subsidytype House Apartment In % Cat. I Cat. II Cat. III Cat. I Cat. II Cat. III Year Year Year Year Year * Year * Year 7 * * * 7.00 Year 8 * * * 7.00 Year 9 * * 4.50 * * * Year 10 * * 5.50 * * * *market rate 32

33 Still waiting for MOF Decree 1 Liquidity Facilities The New Subsidized Mortgage Scheme Fixed Rate Mortgage until maturity (proposed to be 8% up to 15 years) The Government s subsidized fund will be placed at BTN with 1.25% fixed rate The Government s fund will be mixed with the banks commercial fund to finance the subsidized mortgage. The new subsidized scheme is going to be implemented in the 2 nd semester of this year soon after the new decree which regulates how the fund will be disbursed is issued by the MOF Gov t Budget very low rate Bank s commercial rate Subsidized Mortgage Base Lending Rate Calculation of Subsidized Mortgage No. Source of Fund Share Rate WAR 1 Govt Budget 72.20% 1.25% 0.90% 2 BTN Commercial 27.80% 10.64% 2.96% TOTAL FUND % 3.86% COF 3.86% COST + MARGIN BANK 4.14% BASE LENDING RATE 8.00% Single Digit Rate 33