ANALYST MEETING. PT Bank Tabungan Negara (Persero) Tbk. Business & Financial Performances as of December 31, Jakarta, February 4th 2016

Transcription

1 ANALYST MEETING PT Bank Tabungan Negara (Persero) Tbk. Business & Financial Performances as of December 31, 2015 Jakarta, February 4th 2016

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 Macro Economy 4 Initiatives Done In Performance Overview 15 Sharia Business 38 Appendices 40 3

4 1. Macro Economy 4

5 Updates on Macro Economy On 13-14th January 2016, BI lowered the BI Rate to 7.25%, after stayed at 7.5% since February The decision was made due to monetary easing particularly the reduced global uncertainty post-ffr hike. Annual inflation for 2015 stood at 3.35%, which is within the BI target of 4+1%. Economic growth picked up to 4.73% (yoy) in the 3Q of It was projected to continue improving through the 4Q as the government continues to expedite infrastructure projects and release the policy packages to attract private investment. 5

6 Updates on Banking System Loan growth has remained vulnerable to sluggish economic growth and escalating currency risk. It was slowing down to 9.85% (yoy) in November 2015, from 11.58% (yoy) in December Deposit growth also decelerated to 7.7% (yoy) in November 2015, from 12.29% in December 2014, primarily due to a decline in time deposits. NPL stood at 2.66% (gross) in November 2015, jumped from 2.16% in December It was due to slow economic growth and the depreciation of Rupiah that affect the borrowers. In an effort to boost loan growth, in August 2015 the OJK issued a regulation on temporary economic stimulus for banks, The stimulus includes a reduction of the RWA ratio for insured-credit programs, and leniency for banks to restructure loans. 6

7 Updates on Housing Industry The growth of Residential Property Price Index in quarter III-2015 decelerated in both quarterly (0.99%, qtq) and annually (5.46%, yoy). The trend was also predicted to persist into quarter IV Rising Prices of building materials, higher wages and more expensive fuel prices as the main determinants of rising residential property prices. Developers confirmed a slump in residential property sales growth during third quarter of 2015, with survey results indicating a downturn from 10.84% (qtq) to 7.66% (qtq). The slowdown affected all house types, especially medium houses. Residential Property Index Growth of Property Sales (% qtq) Weaker property sales were also corroborated by a deceleration in housing loan growth to 1.08% (qtq) in quarter III Source: Bank Indonesia Residential Property Survey for Primary House 7

8 INITIATIVES DONE IN 2015 TRANSFORMATION PHASE 2 DIGITAL BANKING PERIOD 1 MILLION HOUSES PROGRAM LOAN PROCESS IMPROVEMENT DIGITAL & BRANCHLESS BANKING DEVELOPMENT 8

9 Transformation Road Map 9

10 1 Million Houses Program Bank BTN has become the anchor of the Government One Million Houses Program to reduce the backlog of housing in Indonesia BTN 5IAP FUNDING BUSINESS PROCESS INFORMATION TECHNOLOGY HUMAN CAPITAL HOUSING SUPPLY 10

11 Achievement of 1 Million Houses Program Loan Type 2015 Target Unit Progress as of 31 December 2015 Mortgage Disbursed Unit IDR Billion Construction Loans in Progress Unit IDR Billion Total Unit IDR Billion Progress Subsidized Mortgage 331, ,422 12, ,325 6, ,747 19, % Non Subsidized Mortgage 100,000 54,054 13, ,298 19, ,352 33, % TOTAL 431, ,476 26, ,623 26, ,099 52, % 11

12 Loan Process Improvement Bank BTN has improved its loan business process, in order to improve asset quality Front-End Implementation of Four-eyes principles Improvement of credit scoring model Increase competence of loan analyst Set up credit risk units Middle-End Tight monitoring on borrowers business & collateral Improvement of Loan Monitoring System (icremo) Back-End Adding field collectors Improvement of Consumer Collection & Remedial & Asset Management Organization Improvement of collection system (icoll) Asset sales through investor gathering, BTN Property Website, Auction Body, Exhibition & Property Agents 12

13 Digital & Branchless Banking Development In order to support the growth of low-cost third party funds, branchless banking, as well as financial inclusion in Indonesia, Bank BTN has developed digital banking transactions and promoted in the Government program LAKU PANDAI. 13

14 Result Summary Despite of the economy slow down, BBTN recorded a satisfying result in the year of Total assets grew by 18.83% (yoy) to Rp trn, mainly driven by growth on loan and deposit. Total loans increased by 19.88% (yoy) to Rp trn, much higher than system s growth of 9.85% (as of November 2015). Loan growth has been driven by Housing Loans, particularly Subsidized Mortgages & Construction Loans, as part of BTN s support to the One Million Houses Program. As a result, we are still sustaining the leadership of mortgage in Indonesia by 30.6%. Deposits have been successfully managed to support loan growth. Deposits rose by 19.97% to Rp trn. Current accounts marked the biggest growth at 32.93%. Net profit increased by 61.57% (yoy) to Rp1.85 trn, due to lesser pressures on cost of funds as well as asset quality improvement. Interest income growth (16.39%) was exceeding interest expense (10.23%). Net interest income grew by 25.26%, while fee based income also increased by 22.29%. NPL was 3.42%, improved from 4.01% in December The achievement was made through improvement of collection management system, collateral sale and business process improvement in new loan acquisitions. Profitability has picked up. NIM increased from 4.47% to 4.87%, while ROA and ROE expanded from 1.14% and 10.92% in December 2014 to 1.61% and 16.84% in December 2015 respectively. Coverage Ratio has gradually increased from 33.77% to 43.14% in December 2015 as provisions increased by 16% 14

15 2. Performance Overview 15

16 Financial Highlight (IDR Billion) FY 2011 Total Asset Total Loan & Financing Total Deposits Equity Net Profit Earning per Share (IDR) CAR (Tier 1) CAR (BI) NPL (Gross) NPL (Net) NIM C I R *) COVERAGE RATIO ROE ROA LDR Note : Reclassified 89,121 63,564 61,974 7,322 1, % 15.03% 2.75% 2.23% 5.76% 51.66% 54.11% 17.65% 2.03% % FY ,749 81,411 80,688 10,279 1, % 17.69% 4.09% 3.12% 5.83% 49.71% 29.48% 18.23% 1.94% % FY , ,467 96,213 11,557 1, % 15.62% 4.05% 3.04% 5.44% 50.86% 27.97% 16.05% 1.79% % FY , , ,479 12, , % 14.64% 4.01% 2.76% 4.47% 57.21% 33.77% 10.95% 1.14% % FY , , ,746 13,860 1, % 16.97% 3.42% 2.11% 4.87% 50.08% 43.14% 16.84% 1.61% % y.o.y INDUSTRY (NOV 2015) 18.83% 9.29% 19.88% 9.85% 19.97% 7.70% 13.12% 61.57% -8.25% (Aug) 62.04% 21.12% 2.66% 5.20% 2.30% 90.47% 16

17 Balance Sheet IDR Billion FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 y.o.y Total Assets Total Earning Assets - Term Deposit with BI - Loans and Financing - Securities - Other Earning Assets Provision on Earning Asset Others 89,121 81,401 9,475 63,564 7, (954) 8, , ,538 10,867 81,411 8, (997) 11, , ,305 4, ,467 12, (1,148) 14, , ,192 1, ,916 13,684 1,095 (1,581) 13, , % 157, % 7, % 138, % 10, % % (2,064) 30.55% 16, % Deposits Securities Issued Deposits from Other Banks Repurchase Agreements Borrowings Others Equity 61,974 5, ,450 5,693 3,436 7,322 80,688 7, ,335 6,734 3,834 10,279 96,213 8, ,653 7,070 4,556 11, ,479 7,939 1,770 3,818 6,996 5,329 12, ,746 10,937 3,255 2,135 7,725 6,151 13, % 37.76% 83.94% % 10.41% 15.42% 13.12% 17

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

19 Earning Asset Composition Total Earning Asset (IDR Trillion) Earning Asset Compositions 2015 (%) 19

20 Loans Composition 31-Dec-11 L oans Type Rp. Bn S hares 31-Dec-12 IDR Bn S hares 31-Dec-13 IDR Bn S hares 31-Dec-14 IDR Bn S hares 31-Dec-15 IDR Bn S hares y.o.y Hous ing L oans 55, % 70, % 87, % 102, % 124, % 21.74% S ubs idized Mortgages Non-S ubs idized Mortgages Other Hous ing Loans Cons truction Loan 25,804 18,611 4,199 7, % 29.28% 6.61% 11.31% 25,562 29,129 6,070 9, % 35.78% 7.46% 11.62% 28,429 39,548 7,198 11, % 39.36% 7.16% 11.77% 34,347 45,601 8,179 14, % 39.34% 7.06% 12.50% 43,527 53,567 8,934 18, % 26.73% 38.55% 17.47% 6.43% 9.23% 13.60% 30.47% Non-Hous ing L oans 7, % 11, % 13, % 13, % 14, % Cons umer Loan Commercial Loan 1,463 6, % 9.90% 1,923 9, % 11.38% 2,597 10, % 10.81% 2,916 10, % 8.96% 3,839 10,190 Total L oans 63, % 81, % 100, % 115, % Gross Loan Housing and Non-Housing Loans (IDR Trillion) (%) Note : Figures on all graphs Include Sharia financing 5.46% 2.76% 31.63% 7.33% -1.88% 138, % 19.88% 20

21 Growth in Mortgages Total Mortgages Mortgage Composition (IDR Billion) (%) Subsidized Mortgages Non Subsidized Mortgages (IDR Billion) (IDR Billion) Note : Figures on all graphs Include Sharia financing 21

22 Loan Disbursement IDR Trillion IDR Billion L oans T ype F Y 2011 F Y 2012 F Y 2013 F Y 2014 F Y 2015 y.o.y IDR Bio Hous ing L oans S ubs idized Mortgages Non-S ubs idized Mortgages 18,789 5,896 5,340 28,041 4,213 12,479 33,955 6,506 14,286 34,029 7,960 12,629 41,812 12,771 13, % 60.43% 6.13% Other Hous ing 1,540 2,659 2,500 2,416 2, % Cons truction Loan Non-Hous ing L oans Cons umer Loan Commercial Loan 6,013 6, ,484 8,690 9,679 1,809 7,870 10,663 10,338 2,389 7,949 11,023 7,569 2,564 5,005 13,219 9,434 4,268 5, % 24.64% 66.47% 3.22% 25,173 37,720 44,293 41,598 51, % Total L oans Note : Figures on graph and table Include Sharia financing 22

23 Loan Quality (1/2) Gross NPL Net NPL (%) (%) Note : Figures on all graphs Include Sharia financing 23

24 Loan Quality (2/2) 31-Dec-11 Collectibility Current Special Mentioned PL Substandard Doubtful Loss NPL PL + NPL NPL Gross NPL Netto Loan Type IDR Bn 54,052 7,767 61, ,368 1,745 63, % 2.23% Share 31-Dec-12 IDR Bn 85.04% 12.22% 97.25% 0.28% 0.31% 2.15% 2.75% % 31-Dec 31-Dec Share 31-Dec-13 Rp. Bn 68,420 9,665 78, ,098 3,326 81, % 3.12% 84.04% 84, % 12, % 96, % % % 3, % 4, % 100, % 3.04% 31-Dec 31-Dec Share Rp. Bn 83.91% 12.04% 95.95% 0.46% 0.45% 3.14% 4.05% % 95,262 16, , ,859 4, , % 2.76% Share 31-Dec-15 Rp. Bn Share 82.18% 116, % 13.81% 17, % 95.99% 134, % 0.29% % 0.39% % 3.33% 4, % 4.01% 4, % % 138, % 3.42% 2.11% 31-Dec (Gross) Housing Loans Subsidized Mortgage Non-Subsidized Mortgage Other Housing Loans Construction Loan Non-Housing Loans Consumer Loan % 2.37% 2.88% 2.78% 3.66% 3.14% 1.30% % 5.00% 2.90% 3.08% 4.74% 5.08% 2.00% % 5.24% 2.61% 3.17% 4.75% 5.60% 2.03% % 3.96% 2.51% 3.47% 5.13% 8.51% 2.55% % 2.48% 2.57% 3.44% 3.81% 9.02% 2.17% Commercial Loan Total Loans 3.60% 2.75% 5.72% 4.09% 6.63% 4.05% 10.16% 4.01% 11.57% 3.42% Note : Figures on all tables Include Sharia financing 31-Dec-14 24

25 Liabilities Total Liabilities Funding Composition (IDR Trillion) (IDR Trillion) Funding Composition 2015 (%) 25

26 Deposits Total Deposits Mix Total Deposits (IDR Trillion) (IDR Trillion) Deposits Current Account Savings Account Time Deposits Total FY FY FY 2013 FY 2014 FY 2015 y.o.y % % % % CASA Composition (%) 26

27 Equity (1/2) Total Equity (IDR Trillion) CAR - BI (%) 27

28 Equity (2/2) Tier - 1 Capital Tier - 2 Capital Capital on B/S Securitization exposure RWA - Credit Risk RWA - Market Risk RWA - Operational Risk RWA - Total 6, , , ,284 46,374 9, , , ,557 53,321 9, , , ,229 66,262 10, , , ,856 76,333 12,172 1,721 13, , ,185 81,882 CAR Tier 1/(RWA Credit + Market Risk) 16.02% 19.33% 17.02% 16.15% 17.22% CAR Tier 1/(RWA Credit + Market + Ops Risk) 14.20% 16.95% 14.91% 14.06% 14.86% CAR B/S/(RWA Credit + Market Risk) 17.82% 21.98% 19.91% 18.43% 19.60% CAR B/S/(RWA Credit + Market + Ops Risk) 15.79% 19.28% 17.44% 16.05% 16.93% CAR BI ((Tier 1+2)/(RWA Credit + Market Risk)) 16.96% 20.17% 17.84% 16.81% 19.65% CAR BI ((Tier 1+2)/(RWA Credit + Ops Risk)) 15.08% 17.75% 15.69% 14.68% 17.01% CAR BI ((Tier 1+2)/(RWA Credit + Market + Ops Risk)) 15.03% 17.69% 15.62% 14.64% 16.97% *) *) Equity and CAR calculation have been adjusted with PBI No.15/12/PBI/2013 on Minimum Capital Requirement for Commercial Banks 28

29 Income Statement (IDR Billion) FY 2011 Interest Income Interest Expense Net Interest Income Other Operating Income Other Operating Expense Profit From Operating Non Operating Income (Expense) Profit Before Tax Net Profit 7,791 (4,000) 3, (2,836) 1,526 (3) 1,522 1,119 FY ,106 (4,379) 4, (3,438) 1,865 (8) 1,857 1,364 FY ,197 (5,558) 5, (4,301) 2, ,141 1,562 FY ,374 (7,893) 5, (4,828) 1, ,579 1,146 FY ,567 (8,700) 6,867 1,132 (5,465) 2, ,542 1,851 y.o.y 16.39% 10.23% 25.26% 22.56% 13.20% 60.62% % 60.95% 61.57% 29

30 Interest Income Composition 2015 (IDR Billion) FY2012 FY2013 FY2014 FY2015 Placement with Bank Indonesia Placement with other bank Securities Loan Income from Syariah Total Y.o.Y , , , ,523 1, % -7.61% % 19.11% 13.39% 9,106 11,197 13,374 15, % 30

31 Interest Expense Composition 2015 (IDR Billion) FY2012 FY2013 FY2014 FY2015 Bank Indonesia Deposits from other Banks Deposits from Non Banks Securities Issued Fund Borrowings Others Total , , , , , , , ,700 Y.o.Y % % 7.31% 12.23% -2.41% 10.61% 10.23% 31

32 Other Operating Income Composition 2015 (IDR Billion) FY2012 FY2013 FY2014 FY2015 Y.o.Y Mark to market Gain Reversal on Provisions Commissions, Services & Admin Fee *) Others *) % 51.5% 47.5% 20.2% 17.9% Total , % *) Reclassified 32

33 Other Operating Expense Composition 2015 (IDR Billion) FY2012 FY2013 FY2014 FY2015 Provisions Salaries & Employee Benefit Electricity, Telp, Office Supp. Others *) Rent, Service & Maintenance Depreciation Promotion Collector Fees & Consultan Insurance Premium Training Research & Development Other Taxes Gain Mark to Market Total , , , , , , ,465 Y.o.Y 16.00% 15.79% 19.54% 85.81% 3.73% % % 20.63% 12.95% -0.89% 25.43% 7.31% 18.07% 0% 13.20% *) Reclass, include OJK & BMPD 33

34 Key Financial Ratios (1/4) Net Income (IDR Billion) Net Interest Margin Cost Income Ratio *) Note : *) Reclassified 34

35 Key Financial Ratios (2/4) ROA1 before tax ROA2 after tax 1Calculated 2Calculated based on income before income tax (include tax benefit and extraordinary item)/ average total assets based on Bank Indonesia regulation based on net profit/average total assets 35

36 Key Financial Ratios (3/4) ROE3 tier 1 capital ROE4 balance sheet 15.28% 3Calculated 4Calculated 13.52% based on net profit/average Tier 1 capital based on Bank Indonesia regulation based on net profit/total stakeholder s equity 36

37 Key Financial Ratios (4/4) Loan-to-Deposit Ratio Loan-to-Funding Ratio *) Calculated based on SE BI No 17/17/DKMP dated 26 June 2015 Re: Reserve Requirement Calculation for Commercial Banks 37

38 3. Sharia Business 38

39 Sharia Business Sharia Assets Sharia Deposits (IDR Billion) (IDR Billion) Sharia Net Profit Sharia Financings (IDR Billion) (IDR Billion) 39

40 4. Appendices 40

41 Shares Information Share Ownerships Composition as of 31 Dec 2015 Ownership # of Shares % GOI 6,354,000, % Public 4,228,345, % 1,838,804,196 2,389,540, % - Domestic - Foreign Total 10,582,345, % % Public Share Ownerships Period % Opening 1, % Lowest % Highest 1,315 1, % Average Volume PBV (x) (Lots) 1, , , , % % -5.22% Closing BVPS 1,310 1, % Market Cap (IDR Million) 13,704,137 12,734, % 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 31 Dec 2015 was IDR 13,7 Bio 41

42 Kalimantan Regional Offices Branch Offices Sub Branch Offices Cash Outlets Sharia Outlets Priority Outlet Post Offices ATMs Outlets Sumatera Regional Offices Branch Offices Sub Branch Offices Cash Outlets Sharia Outlets Priority Outlet Post Offices ATMs Sulawesi Regional Offices Branch Offices Sub Branch Offices Cash Outlets Sharia Outlets Priority Outlet Post Offices ATMs Papua & Maluku Regional Offices Branch Offices Sub Branch Offices Cash Outlets Sharia Outlets Priority Outlet Post Offices ATMs I N D O N E S I A Jawa Regional Offices Branch Offices Sub Branch Offices Cash Outlets Sharia Outlets Priority Outlet Post Offices ATMs ,624 1,345 Bali & Nusa Tenggara Regional Offices Branch Offices 3 Sub Branch Offices 5 Cash Outlets 8 Sharia Outlets Priority Outlet 2 Post Offices 141 ATMs 46 Regional Offices Branch Offices Sub Branch Offices Cash Outlets Sharia Outlets Priority Outlet Total Outlets Post Offices ATMs Employees , , , , ,738 1,181 6, ,922 1,404 7, ,922 1,504 8, ,951 1,830 8, ,951 1,830 9,042 42

43 INTERNATIONAL AWARDS 2015 THE LEAGUE OF AMERICAN COMMUNICATIONS PROFESSIONALS (LACP) AWARD 2014 Gold Award #77 of Top 100 Annual Report Worldwide #17 of Top 50 Annual Report in the Asia Pacific Region #10 Indonesian Annual Report of 2014 Best Letter to Shareholders 43

44 REGIONAL AWARDS 2015 ASEAN CORPORATE GOVERNANCE AWARD 2015 Top Two Publicity Listed Companies with the Most Improved Scores 44

45 TOP NATIONAL AWARDS 2015 ANUGERAH PERBANKAN INDONESIA 2015 ECONOMIC REVIEW Peringkat I Kelompok Bank Buku III dan Tokoh Perbankan 2015 untuk Direktur Utama Bank BTN ANNUAL REPORT AWARD 2014 Juara III Kategori BUMN Keuangan Listed THE 7th IICD Corporate Governance AWARD The Best Financial Services 45

46 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 : 46