ANALYST MEETING. PT Bank Tabungan Negara (Persero) Tbk. Business & Financial Performances as of December 31, Jakarta, February 13 th 2018

Transcription

1 ANALYST MEETING PT Bank Tabungan Negara (Persero) Tbk. Business & Financial Performances as of December 31, 2017 Jakarta, February 13 th 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 Page Macroeconomy 4 FY 2017 Summary & 2018 Guidelines 9 Performance Overview 14 Sharia Business 39 Appendices 42 3

4 1. Macroeconomy 4

5 Macroeconomy: Manageable Inflation & Lower Benchmark Rate Low Inflation & Interest Rate Robust Economic Growth Inflation was controlled at 3.61% (yoy) in December 2017, still within BI s target of 4±1%. During 2017, Bank Indonesia cut its policy rate twice in total of 50bps, bringing the BI 7-Day RR Rate to 4.25% despite the FFR hike GDP growth was 5.07% (yoy), Indonesia s Economy is expected to build further momentum in Bank Indonesia projects economic growth at 5.1%-5.5% (yoy) in

6 Banking System: Loan was Limited, Decelerated Deposit Growth Weak Loan & Deposit Growth Loan growth still limited at 7.5% (yoy) in Nov Likewise, deposit growth decelerated to 9.8% (yoy) in Nov 2017 after showing a rebound in Sep Relatively Flat Trend of NPL NPL gross slightly decreased to 2.9% in Nov 2017, experienced a flat trend during the last six months. 6

7 BBTN Loan & Deposit: Above Industry s Growth Robust Loan Growth In Dec 2017, BBTN Loan grew by 21.01% (yoy), far above industry growth at 7.5% (yoy) in Nov Its acceleration was sustained by Subsidized Mortgages. Strong Deposits Growth Total Deposits of BBTN increased by 20.45% (yoy) in Dec Meanwhile industry recorded at 9.8% (yoy) in Nov

8 Housing Industry: Slower Growth of Residential Property Prices Residential Property Price Index Growth of Property Sales (% qtq) Residential Property Price Index in 3Q17 decelerated quarterly from 1.18% (qtq) to 0.5% (qtq) but grew annually at 3.32% (yoy), up from 3.17 % (yoy). The rising prices affected all property types, especially medium houses. Residential property sales decelerated from 3.61% (qtq) to 2.58% (qtq) in line with limited demand for houses. Source: Bank Indonesia Residential Property Survey for Primary House 8

9 2. FY 2017 Summary & 2018 Guidelines 9

10 Bank BTN s Support to the 1 Million Houses Program 2017 Achievement Loan Type Target (Unit) Mortgage Disbursed 2017 Approved prior to 2017 Progress as of Dec 31, 2017 Construction Loans Support in Progress Approved in 2017 Unit IDR Bn Unit IDR Bn Unit IDR Bn Unit IDR Bn Unit IDR Bn Subsidized Mortgage 504, ,780 23, ,012 4, ,537 6, ,549 10, ,329 34,162 Non Subsidized Mortgage 161,878 53,003 16,803 88,197 13,240 44,783 7, ,980 20, ,983 37,376 TOTAL 666, ,783 40, ,209 17, ,320 13, ,529 31, ,312 71,538 Total Total 2018 Target (Unit) Loan Type Mortgages Construction Total Subsidized Mortgage 248, , ,868 Non Subsidized Mortgage 76, , ,132 TOTAL 325, , ,000 10

11 FY17 Key Takeaways Robust Loan Growth Sufficient Liquidity Loan growth was 21.01% (yoy), supported by the government program of 1 million houses Subsidized mortgage demand remained strong with 32.45% (yoy) growth Sustaining the leadership of mortgage in Indonesia by 36.3% & holding 95.42% of national subsidized mortgage disbursement Deposits rose by 20.45% (yoy) LCR was sufficient at % Wholesale funding of IDR trn and USD29 mio from NCD, bilateral loans and bonds issuance Solid Profitability Net profit increased by 15.59% (yoy) Net interest income raised by 14.45% (yoy), fee income grew by 25.93% (yoy) Improved Asset Quality NPL gradually improved to 2.66%, lower than 2.84% in Dec 2016 Special-Mentioned Loans also improved from 10.22% to 8.77% in Dec 2017 NPL on subsidized mortgage continued to improve, while construction & commercial loans significantly got better 11

12 2018 Grand Strategy Sustainable Growth Strengthening positioning in mortgage and construction value chain Strengthening funding structure and CASA ratio Increasing noninterest income Increasing effectivity in collections and asset recovery Capital Support Increasing Human Capital Quality and Productivity Strengthening Risk Management and Integrated GRC Increasing IT Capability to Support Digital Banking and Digitalization Process 12

13 2018 Target Growth Total Asset : 17% - 20% Total Loan & Financing : 22% - 24% Total Deposits : 19% - 22% Equity : 13% - 15% Net Profit : > 25% Ratio CAR : 16% - 18% NPL (Gross) : 2.3% - 2.5% N I M : 4.5% - 5% R O E : 18% - 20% R O A : 1.7% - 1.9% L D R : 105% - 107% 13

14 3. Performance Overview 14

15 Financial Highlight (IDR Billion) FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 y.o.y INDUSTRY (NOV 2017) TARGE BBTN 201 Total Asset 131, , , , , % 9.73% 18% - 20% Total Loan & Financing 100, , , , , % 7.50% 21% - 23% Total Deposits 96, , , , , % 9.80% 22% - 24% Equity 11,557 12,253 13,860 19,131 21, % > 12% Net Profit 1,562 1,146 1,851 2,619 3, % 16.48% > 15% Earning per Share (IDR) % CAR (Tier 1) 14.91% 14.07% 14.87% 16.54% 15.99% 21.69% CAR (BI) 15.62% 14.64% 16.97% 20.34% 18.87% 23.20% 16% - 18% NPL (Gross) 4.05% 4.01% 3.42% 2.84% 2.66% 2.89% < 2.5% NPL (Nett) 3.04% 2.76% 2.11% 1.85% 1.66% 1.25% < 1% N I M 5.44% 4.47% 4.87% 4.98% 4.76% 5.31% 4.5% - 5% C I R 50.86% 57.21% 50.08% 48.41% 50.19% COVERAGE RATIO 27.97% 33.77% 43.14% 45.25% 45.33% ROE 16.05% 10.95% 16.84% 18.35% 18.11% 17% - 19% ROA 1.79% 1.14% 1.61% 1.76% 1.71% 2.48% 1.6% LDR % % % % % 88.97% 101% LCR % % % 15

16 Balance Sheet (IDR Billion) FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 y.o.y Total Assets 131, , , , , % Total Earning Assets 118, , , , , % - Term Deposit with BI 4,834 1,496 7,529 17,581 18, % - Loans and Financing 100, , , , , % - Securities 12,595 13,684 10,001 12,785 15, % - Other Earning Assets 408 1, , % Provision on Earning Asset (1,148) (1,581) (2,064) (2,132) (2,373) 11.30% Others 14,013 13,972 16,823 20,520 29, % Deposits 96, , , , , % Securities Issued 8,837 7,939 10,937 12,935 17, % Deposits from Other Banks 285 1,770 3,255 5,459 8, % Repurchase Agreements 2,653 3,818 2,135 1,385 1, % Borrowings 7,070 6,996 7,725 7,999 10, % Others 4,556 5,329 6,151 7,068 8, % Equity 11,557 12,253 13,860 19,131 21, % 16

17 Asset Composition Total Assets (IDR Trillion) Assets Composition (%) 17

18 Earning Asset Composition Total Earning Asset (IDR Trillion) Earning Asset Composition (%) 18

19 Loans Composition: Focused on Housing Loans Loans Type 31-Dec Dec Dec Dec Dec-17 IDR Bn Shares IDR Bn Shares IDR Bn Shares IDR Bn Shares IDR Bn Shares y.o.y Housing Loans 87, % 102, % 124, % 147, % 179, % 21.14% Subsidized Mortgages 28, % 34, % 43, % 56, % 75, % 32.45% Non-Subsidized Mortgages 39, % 45, % 53, % 60, % 69, % 14.62% Other Housing Loans 7, % 8, % 8, % 8, % 8, % -1.86% Construction Loan 11, % 14, % 18, % 21, % 26, % 18.98% Non-Housing Loans 13, % 13, % 14, % 16, % 19, % 19.78% Consumer Loan 2, % 2, % 3, % 4, % 4, % 1.59% Commercial Loan 10, % 10, % 10, % 11, % 14, % 27.12% Total Loans 100, % 115, % 138, % 164, % 198, % 21.01% Gross Loan (IDR Trillion) Housing and Non-Housing Loans (%) Note : Figures on graph and table include Sharia Financing 19

20 Mortgages: Growth Remained Strong Total Mortgages (IDR Billion) Mortgage Composition (%) Subsidized Mortgages (IDR Billion) Non Subsidized Mortgages (IDR Billion) Note : Figures on all graphs include Sharia Financing 20

21 Loan Disbursement: Mainly Driven by Subsidized Mortgages IDR Trillion IDR Billion IDR Bio Loans Type FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 y.o.y Housing Loans 33,955 34,029 41,812 47,216 57, % Subsidized Mortgages 6,506 7,960 12,771 17,527 23, % Non-Subsidized Mortgages 14,286 12,629 13,404 14,315 16, % Other Housing 2,500 2,416 2,418 1,823 1, % Construction Loan 10,663 11,023 13,219 13,551 15, % Non-Housing Loans 10,338 7,569 9,434 12,043 17, % Consumer Loan 2,389 2,564 4,268 4,779 6, % Commercial Loan 7,949 5,005 5,166 7,264 10, % Total Loans 44,293 41,598 51,246 59,259 74, % Note : Figures on graph and table include Sharia Financing 21

22 Loan Quality: NPL Continues to Improve Gross NPL (%) Net NPL (%) Note : Figures on graph include Sharia Financing 22

23 Loan Quality Breakdown: Better Commercial Loans Collectibility 31-Dec Dec Dec Dec Dec-17 IDR Bn Share IDR Bn Share IDR Bn Share IDR Bn Share IDR Bn Share Current 84, % 95, % 116, % 142, % 176, % Special Mentioned 12, % 16, % 17, % 16, % 17, % PL 96, % 111, % 134, % 159, % 193, % Substandard % % % % % Doubtful % % % % % Loss 3, % 3, % 4, % 4, % 4, % NPL 4, % 4, % 4, % 4, % 5, % PL + NPL 100, % 115, % 138, % 164, % 198, % NPL Gross 4.05% 4.01% 3.42% 2.84% 2.66% NPL Netto 3.04% 2.76% 2.11% 1.85% 1.66% Loan Type (Gross) Housing Loans 3.80% 3.43% 2.79% 2.36% 2.31% Subsidized Mortgage 31-Dec 5.24% 3.96% 2.48% 1.52% 1.16% Non-Subsidized Mortgage 2.61% 2.51% 2.57% 2.65% 3.00% Other Housing Loans 3.17% 3.47% 3.44% 3.59% 4.09% Construction Loan 4.75% 5.13% 3.81% 3.21% 3.14% Non-Housing Loans 5.60% 8.51% 9.02% 7.14% 5.82% Consumer Loan 2.03% 2.55% 2.17% 1.35% 1.34% Commercial Loan 6.63% 10.16% 11.57% 9.44% 7.99% Total Loans 4.05% 4.01% 3.42% 2.84% 2.66% Note : Figures on all tables include Sharia Financing 23

24 Special-Mentioned Loan Special-Mentioned Loan (%) Special-Mentioned by Loan Type (%) Note : Figures include Sharia Financing 24

25 Restructured Loan Restructured Loan in FY17 (IDR Billion) Restructured Loan by Quality in FY17 (%) Restructured Loan Outstanding (IDR Billion) Note : Figures include Sharia Financing 25

26 Liabilities: Sufficient to Support Loan Growth Total Liabilities (IDR Trillion) Funding Composition (IDR Trillion) Funding Composition (%) 26

27 Deposits Total Deposits Mix (IDR Trillion) Deposits FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 y.o.y Current Account % Savings Account % Time Deposits % Total % CASA Composition (%) 27

28 Equity (1/2) Total Equity (IDR Trillion) CAR - BI (%) 28

29 Equity (2/2) Tier - 1 Capital 9,879 10,736 12,172 16,443 18,728 Tier - 2 Capital ,721 3,776 3,368 Capital on B/S 11,557 12,253 13,860 19,131 21,663 RWA - Credit Risk 57,749 66,251 70,474 86, ,494 RWA - Market Risk RWA - Operational Risk 8,229 9,856 11,185 12,899 14,934 RWA - Total 66,262 76,333 81,882 99, ,092 CAR Tier 1/(Total RWA) 14.91% 14.07% 14.87% 16.54% 15.99% CAR B/S/(Total RWA) 17.44% 16.05% 16.93% 19.24% 18.50% CAR BI ((Tier 1+2)/(Total RWA)) 15.62% 14.64% 16.97% 20.34% 18.87% CAR Tier % 3.80% 2.88% Capital Conservation Buffer 0.63% 1.25% Countercyclical Buffer 0.00% 0.00% Capital Surcharge (D-SIB) 0.25% 0.50% 29

30 Income Statement (IDR Billion) FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 y.o.y Interest Income 11,197 13,374 15,567 17,852 20, % Interest Expense (5,558) (7,893) (8,700) (9,600) (10,637) 10.80% Net Interest Income 5,639 5,482 6,867 8,252 9, % Other Operating Income ,132 1,285 1, % Other Operating Expense (4,301) (4,828) (5,465) (6,184) (7,163) 15.83% Profit From Operating 2,136 1,577 2,534 3,352 3, % Non Operating Income (Expense) (22) (30) 37.02% Profit Before Tax 2,141 1,579 2,542 3,330 3, % Net Profit 1,562 1,146 1,851 2,619 3, % 30

31 Interest Income Composition (IDR Billion) FY2013 FY2014 FY2015 FY2016 FY2017 Y.o.Y Placement with Bank Indonesia % Placement with other bank % Securities % Loan 9,605 11,353 13,523 15,458 17, % Income from Syariah ,042 1,256 1, % Total 11,197 13,374 15,567 17,852 20, % 31

32 Interest Expense Composition (IDR Billion) FY2013 FY2014 FY2015 FY2016 FY2017 Y.o.Y Bank Indonesia Deposits from other Banks % Deposits from Non Banks 4,082 6,290 6,750 7,363 7, % Securities Issued ,088 1, % Fund Borrowings % Others % Total 5,558 7,893 8,700 9,600 10, % 32

33 Other Operating Income Composition (IDR Billion) FY2013 FY2014 FY2015 FY2016 FY2017 Y.o.Y Marked to market % Gain % Reversal on Provisions (0.47) % Commissions, Services & Admin Fee *) % Others *) % *) Reclassified Total ,132 1,285 1, % 33

34 Other Operating Expense Composition (IDR Billion) FY2013 FY2014 FY2015 FY2016 FY2017 Y.o.Y Provisions % Salaries & Employee Benefit 1,161 1,260 1,459 1,619 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, % 34

35 Key Financial Ratios (1/4) Net Income (IDR Billion) Net Interest Margin Cost Income Ratio *) Note : *) Reclassified 35

36 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 assets based on Bank Indonesia regulation 2 Calculated based on net profit/average total assets 36

37 Key Financial Ratios (3/4) ROE 3 tier 1 capital ROE 4 balance sheet 15.28% 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 37

38 Key Financial Ratios (4/4) Loan-to-Deposit Ratio Liquidity Coverage Ratio 38

39 4. Sharia Business 39

40 Sharia Business Sharia Net Profit (IDR Billion) Sharia Assets (IDR Billion) Sharia Deposits (IDR Billion) 40

41 Sharia Financings & NPF Sharia Financings (IDR Billion) Sharia Disbursement (IDR Billion) Sharia NPF (Gross) (%) Sharia NPF (Net) (%) 41

42 5. Appendices 42

43 Shares Information Share Ownerships Composition as of Dec 31, 2017 Ownership # of Shares % G O I 6,354,000, % Public 4,236,000, % - Domestic 1,064,539, % - Foreign 3,171,460, % Total 10,590,000, % Period Opening Lowest Highest Closing Average Volume (Lots) PBV (x) BVPS Market Cap (IDR Million) FY ,745 1,695 3,610 3, , ,046 37,806,300 FY ,300 1,280 2,100 1, , ,806 18,426,600 % (yoy) 34.23% 32.42% 71.90% % 3.57% 81.19% 13.24% % 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 Dec 31, 2017 was IDR Trillion 43

44 Outlets Sumatera Regional Offices 1 Branch Offices 12 Sub Branch Offices 44 Cash Outlets 61 Sharia Outlets 11 Priority Outlet 6 Post Offices 700 ATMs 256 Kalimantan Regional Offices - Branch Offices 6 Sub Branch Offices 18 Cash Outlets 20 Sharia Outlets 4 Priority Outlet 5 Post Offices 299 ATMs 94 Jawa Regional Offices 3 Branch Offices 45 Sub Branch Offices 185 Cash Outlets 368 Sharia Outlets 53 Priority Outlet 26 Post Offices 1,627 ATMs 1,437 I N D O N E S I A Bali & Nusa Tenggara Regional Offices - Branch Offices 3 Sub Branch Offices 9 Cash Outlets 10 Sharia Outlets 1 Priority Outlet 2 Post Offices 141 ATMs 50 Sulawesi Regional Offices 1 Branch Offices 6 Sub Branch Offices 16 Cash Outlets 21 Sharia Outlets 3 Priority Outlet 2 Post Offices 126 ATMs 103 Papua & Maluku Regional Offices - Branch Offices 3 Sub Branch Offices 3 Cash Outlets 4 Sharia Outlets - Priority Outlet - Post Offices 61 ATMs 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 2,954 ATMs 1,504 1,830 1,830 1,900 1,964 Employees 8,011 8,582 9,042 9,380 12,275 44

45 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 : 45