A time of opportunities

Transcription

1 ANNUAL REVIEW 2015

2 A time of opportunities > 2015 was a year of non-stop growth. The changes we made to our teams have enabled them to achieve our stated objectives, focusing on the best possible solutions and practices. > In optimizing our results, we received further international recognition. 01 Our Mission 02 Our Culture 03 Executive Chairman s Message 04 Our Activities 06 Consolidated Balance Sheet and Income Statement Finantipar (Parent company) 08 Consolidated Balance Sheet and Income Statement 09 Financial Highlights 11 Corporate Responsibility 12 Our Team

3 OUR MISSION > We offer our clients high quality value-added services. > We recruit, train and develop the most talented professionals. > We are committed to create value for our shareholders, reinforcing our institution s solidity.

4 OUR CULTURE > Our values guide us through every step of our work. > We follow a coherent path, searching for the most effective economic and financial solutions. > Our culture shines through in the relationships we have developed and cemented over the years. EXCELLENCE The professionalism, quality and dedication of our staff and the recognized international experience of our management teams set us apart CREATIVITY We develop financial solutions and services that lead to unique growth and investment opportunities INDEPENDENCE We guarantee that the service we provide to clients is completely free of conflicts of interest INNOVATION We anticipate most of our clients needs and offer them high added-value services INTEGRITY We demand high ethical standards from our staff, in both their professional and their personal lives CLIENT-ORIENTATION We always seek the best solutions for our clients, in order to establish long term relationships SOUNDNESS We maintain the stable capital and liquidity ratios we need to carry out our various activities TEAM WORK Working as a team, sharing responsibilities and rewards, is the way to achieve our objectives and meet clients expectations GRUPO FINANTIA 02 ANNUAL REVIEW 2015

5 EXECUTIVE CHAIRMAN S MESSAGE 2015 was a year of many challenges at both financial and political levels. While economic and financial recovery was present throughout the year, political uncertainty increased in Portugal, Spain and the UK, with consequences still difficult to predict and quantify. Our defensive strategy has proved to be adequate to the geopolitical situation and to the overwhelming flow of new regulations emerging from the Banking Union project. Smaller institutions have been submerged by an unjustified bureaucratic burden, without respect for the promised proportionality rule, together with a (national) excessive discriminatory and uncompetitive tax burden. In this context, the net profit of EUR28.3 million of Grupo Finantia (52% higher than in FY14) is particularly satisfying. As a result of the decline in financial activity in Portugal, we have been dedicating more and more efforts towards our international activities, with good results and interesting and innovative transactions. We have been recruiting high caliber professionals to strengthen our qualified staff pool in order to respond effectively to the new challenges of the financial activities and the regulatory environment. Our culture has remained strong and focused: independent, innovative and entrepreneurial. The transition of the executive management to a younger team has been evolving positively whilst satisfying all concerned stakeholders. We have decided to expand the Group presence in London as we plan to use that financial center as our main base for international expansion. The dedication of our staff, the trust of our clients and the support of our stakeholders are second to none. Our thanks to all of them. António M. A. Guerreiro Executive Chairman Grupo Finantia GRUPO FINANTIA 03 ANNUAL REVIEW 2015

6 OUR ACTIVITIES > We are an independent Portuguese financial group with almost three decades of experience. > Free from any conflicts of interest, we have a long track record of successful national and international operations. > We are constantly widening our extensive network of contacts in the international financial sector. NEW YORK LONDON MADRID, BARCELONA, VALENCIA MALTA SAO PAULO LISBON, PORTO PRIVATE BANKING CAPITAL MARKETS INVESTMENT BANKING MAIN ACTIVITIES GRUPO FINANTIA 04 ANNUAL REVIEW 2015

7 OUR ACTIVITIES INVESTMENT BANKING > Professional and independent advice, with extensive experience in mergers and acquisitions > Strong international presence, promoting and carrying out transactions in countries with close cultural and economic ties to Portugal, in particular Spain and Brazil > Specialists in cross-border transactions, attracting foreign investment to Portugal and to other parts of the world > Support for domestic companies in their international expansion processes > Experience in privatisation and transactions in regulated sectors and concession sectors. 800M Issuance in commercial paper +132% M Largest Turkish investment in Portugal CAPITAL MARKETS > Teams in Lisbon, Madrid, London, New York and Sao Paulo the Bank s major international markets > Pioneer and trusted partner for Finantia s clients in the fixed income markets > Distributor of syndicated loans, working together with a wide and diverse range of investors in Europe and in North and South America > Key supporter of Portuguese businesses through the issuance of commercial paper > Leading counterparty for asset pricing in national and international markets with a special focus on Portugal, Spain, Turkey, Russia and Brazil. 680M Term deposits PRIVATE BANKING > Investment and savings solutions with the Bank s straightforward and transparent products > Wide range of term deposits allowing to meet each client s needs > Finantia s term deposits are covered by the Deposit Guarantee Fund s reimbursement guarantee > Secure home banking available 24 hours a day, 365 days a year > Specialist portfolio management team. +13% GRUPO FINANTIA 05 ANNUAL REVIEW 2015

8 CONSOLIDATED BALANCE SHEET AND INCOME STATEMENT FINANTIPAR (PARENT COMPANY) CONSOLIDATED BALANCE SHEET EUR Million ASSETS Cash and banks Available-for-sale financial assets Loans and advances to customers Other loans and advances Total assets LIABILITIES MM takings Customers deposits Repos (including ECB) Subordinated debt Other liabilities Total liabilities EQUITY Share capital, reserves and retained earnings Net profit Total equity Total liabilities and equity CONSOLIDATED INCOME STATEMENT EUR Million Net interest income Net fee and other operating income Total Operating Income Impairments and provisions (32.3) (42.6) Operating expenses (24.9) (23.0) Profit before tax & extraordinary items Net profit GRUPO FINANTIA 06 ANNUAL REVIEW 2015

9 A time of expansion > Our growth is a clear reflection of the confidence our clients have in us. > Our structured long-term vision, with its openness to responsible investment, has contributed to the growth seen in our business and sustainable returns.

10 CONSOLIDATED BALANCE SHEET AND INCOME STATEMENT BANCO FINANTIA CONSOLIDATED BALANCE SHEET EUR Million ASSETS Cash and banks Available-for-sale financial assets Loans and advances to customers Other loans and advances Total assets LIABILITIES MM takings Customers deposits Repos (including ECB) Subordinated debt Other liabilities Total liabilities EQUITY Share capital, reserves and retained earnings Net profit Total equity Total liabilities and equity CONSOLIDATED INCOME STATEMENT EUR Million Net interest income Net fee and other operating income Total Operating Income Impairments and provisions (31.5) (42.6) Operating expenses (24.8) (23.0) Profit before tax & extraordinary items Net profit RESULTS THAT MATTER GRUPO FINANTIA 08 ANNUAL REVIEW 2015

11 FINANCIAL HIGHLIGHTS BANCO FINANTIA 27.6 M Net profit 22.6% CET Profit per share +132% % % NET PROFIT( M) COST TO INCOME (%) CORE TIER 1 (%) DEPOSITS ( M) GRUPO FINANTIA 09 ANNUAL REVIEW 2015

12 A time of continuity > Our philosophy gives priority to the continued and stable relationships we have built over many years. > We are dedicated to investing in socially relevant projects which we believe deserve our support and continued follow-up.

13 CORPORATE RESPONSIBILITY SOCIAL RESPONSIBILITY has the policy of supporting specific social actions aimed at assisting disadvantaged children with or without special educational needs, such as: APSA an institution that supports and educates children and young people with Asperger Syndrome, helping them to live a more independent life BANCO DO BÉBÉ an association that helps underprivileged families with babies born at Alfredo da Costa Maternity in Lisbon LIGA DOS AMIGOS DO HOSPITAL DE S.JOÃO an association that helps underprivileged children and elderly people when they are in the hospital RARÍSSIMAS an association that helps young people with rare diseases. CORPORATE PATRONAGE PALÁCIO NACIONAL DA AJUDA in Lisbon, is an active patron of this palace since FUNDAÇÃO DE SERRALVES in Oporto, the Bank is a founding member of the foundation since 1995, having sponsored several culture and social programs. EDUCATION ISEG In 2015, as in previous years, has cooperated with ISEG Instituto Superior de Economia e Gestão of the Universidade Técnica de Lisboa (Technical University of Lisbon) by awarding the best first-year Master s degree student of International Economics and European Studies. FUNDAÇÃO ECONÓMICAS the Bank is also a founding member of the Fundação Económicas Fundação para o Desenvolvimento das Ciências Económicas, Financeiras e Empresariais (a foundation for the Development of Economic, Financial and Entrepreneurial Sciences). GRUPO FINANTIA 11 ANNUAL REVIEW 2015

14 OUR TEAM Ahmet Iplikci Alexei Mitrofanov Álvaro Novis António Gomes de Pinho António Guerreiro António Santiago Freitas António Vila-Cova Carlos Cuervo Charles-Louis de Laguiche David Guerreiro Dominique de Guerre Duarte Correia de Sá Eduardo Catroga Eduardo Costa Filipe Marques Francisco Ortigão Gonçalo Vaz Botelho Igor Souvorov Israel Vainboim João Cassiano João Sabido Silva José Miguel Júdice Laurent Mignon Luisa Antas Manuel Sebastião Marta Eirea Martin Lee-Warner Michael Hamilton Pedro Benites Pedro Fernandes Santos Pedro Perestrelo dos Reis Renato Schulman Ricardo Caldeira Riccardo Orcel Roberto Teixeira da Costa Rui Guerra Rui Martinho Sandra Matos Chaves Sérgio Zappa Tiago Lopes Ulf Bachmann Non-executive Member Board of Directors Executive Chairman Board of Directors Chairman Strategic Board Non-executive Member Board of Directors Non-executive Chairman Board of Directors Executive Member Board of Directors Executive Member Board of Directors Non-executive Member Board of Directors Vice-Chairman Strategic Board Managing Director Managing Director Executive Vice-President Board of Directors Managing Director Non-executive Member Board of Directors Secretary General CEO Non-executive Member Board of Directors Managing Director Executive Member Board of Directors CEO Managing Director Executive Member Board of Directors Managing Director Non-executive Member Board of Directors Executive Member Board of Directors Finantipar SGPS Finantipar SGPS Sofinloc Finantipar SGPS Finantia USA Finantipar SGPS Sofinloc Finantia UK Finantipar SGPS Finantia Brasil Finantipar SGPS Sofinloc GRUPO FINANTIA 12 ANNUAL REVIEW 2015

15 GENERAL ASSEMBLIES João Vieira de Almeida Chairman, José A. Pinto Ribeiro Chairman, Finantipar SGPS AUDIT BOARDS José Manuel Archer Chairman, and Finantipar SGPS Miguel Cancella de Abreu Member, and Finantipar SGPS Rita Correia Afonso Member, and Finantipar SGPS EXTERNAL AUDITORS Ernst & Young Audit & Associados, S.R.O.C. BANCO FINANTIA S MAIN SHAREHOLDERS Finantipar SGPS (57.0 %) Natixis (9.9%) VTB Capital (8.9%) Portigon (8.2%) The contents of this document are complemented by Finantipar SGPS and s Report and Accounts The paper used in this Annual review is from forests that are managed in an environmentally appropriate, socially beneficial and economically viable manner. Certification no. sgs-coc Design and production graça abreu design Printing leycol, London.

16 Rua General Firmino Miguel, Lisboa Portugal T Rua São João de Brito, Porto Portugal T Avenida Menéndez Pelayo, Madrid Spain T Paseo de Gracia, Barcelona Spain T Calle Colón, Valencia Spain T Austin Friars, 5th Floor London EC2N 2HG UK T Third Avenue, 28th Floor New York NY USA T Rua James Joule, 65, Conj. 172 Brooklin São Paulo SP Brazil T SmartCity Malta, SCM01 Ground Floor, GR 04 Ricasoli Kalkara SCM 1001 Malta T finantia@finantia.com