OP Bank Group. 1 January to 30 June, 2006

Transcription

1 1 January to 30 June, 2006

2 Key indicators 1-6/ /2005 Change 1-12/2005 Earnings before tax, m illion * 579 Cost/income ratio, % Impairment losses of loan and guarantee portfolio, % Return on equity (ROE), % June 2006 Change from yearend 12 month change Dec. 31, 2005 Balance sheet total, billion * 31.1 * 52.8 Market share, % Loans Deposits Mutual funds Life and pension insurance savings Tier I ratio, % * Percentages. Other change figures percentage points.

3 30 June member cooperative banks OP Bank Group Central Cooperative OKO Bank plc Subsidiaries Shareholders of series A million customers 1.1 million individual members

4 30 June 2006 MEMBER COOPERATIVE BANKS (236 BANKS) OP BANK GROUP PENSION FUND OP BANK GROUP PENSION FOUNDATION OP BANK GROUP CENTRAL COOPERATIVE OP BANK GROUP MUTUAL INSURANCE COMPANY OKO BANK PLC POHJOLA GROUP PLC OKO ASSET MANAGEMENT LTD HELSINKI OP BANK PLC OP LIFE ASSURANCE COMPANY LTD POHJOLA LIFE INSURANCE COMPANY LTD OP-KOTIPANKKI OYJ HELSINGIN SEUDUN OP-KIINTEISTÖKESKUS OY POHJOLA NON-LIFE INSURANCE COMPANY LTD A-INSURANCE LTD POHJOLA IT PROCUREMENT LTD OKO CORPORATE FINANCE LTD OKO VENTURE CAPITAL LTD OP BANK GROUP MORTGAGE BANK PLC OP FUND MANAGEMENT COMPANY LTD POHJOLA FUND MANAGEMENT COMP. LTD EUROOPPALAINEN INSURANCE COMPANY LTD POHJOLA PROPERTY MANAGEMENT LTD OKO CAPITAL EAST LTD ZAO OKO CAPITAL VOSTOK POHJOLAN SYSTEEMIPALVELU OY FD FINANSSIDATA OY OTHERS OTHERS OTHERS

5 results, compared with previous-year figures

6 Income statement million January 1 to June Change million % Net interest income Other income Total income Personnel costs Other expenses Total expenses Impairment losses Returns to owner-members Earnings before tax Cost/income ratio, % 57 53

7 Income statement January 1 to June 30 Net interest income Other income Personnel costs Other expenses Impairment losses Returns to owner-members Earnings before tax million

8 Income statement million Change January 1 to June % Interest income Interest expenses Net interest income Impairment losses Net interest income after impairment losses Net income from non-life insurance 176 Net income from life assurance Net commissions and fees Net income from trading 17 8 Net income from investments Other operating income Personnel costs Other administrative expenses Other operating expenses Returns to owner-members Share of affiliate profits/losses -1 1 Earnings before tax

9 Other income Net income from nonlife insurance Net income from life insurance Net commissions and fees Net income from trading and from investments January- June Other operating income million

10 Income statement by divisions 1 January to 30 June, 2006 million Retail Banking Asset Management Corporate Banking Non Life Insurance Group Treasury Others, incl. eliminations Net interest income Net income from non life insurance Net income from life insurance Other income Total Income Personnel costs Other expenses Total Expenses Impairment losses on receivables Returns to owner-members Earnings before tax Total

11 Earnings analysis of life insurance companies (IFRS) * OP Life Assurance Company Pohjola Life Insurance Company Milj. e 1-6/ /2005 Change, % 1-6/2006 Premiums written Investment income Benefits paid Change in technical provisions before supplementary benefits Supplementary benefits Operating expenses Earnings before tax * The sign digit indicates the direction of impact on earnings

12 quarterly figures

13 Quarterly performance million I II III IV I II III IV Net interest income Other income Total income Personnel costs Other expenses Total expenses Impairment losses on receivables Returns to owner-members Earnings before tax Cost/income ratio, %

14 Other income by quarter I II III IV I II III IV Net income from non-life insurance Net income from life insurance Net commissions and fees Net income from trading and from investments Other operating income

15 Quarterly net interest income and net commissions and fees million Net interest income Net commissions and fees 50 0 I II III IV/05 I II III IV/06

16 Quarterly net income from non-life and life insurance million Net income from non-life insurance Net income from life insurance 20 0 I II III IV/05 I II III IV/06

17 Quarterly net income from trading and from investments million Net income from trading Net income from investments I II III IV/05 I II III IV/06

18 Quarterly expenses million Personnel costs Other administrative expenses Other operating expenses 20 0 I II III IV/05 I II III IV/06

19 Quarterly impairment losses million Gross impairment losses* Reversals Net impairment losses I II III IV/05 I II III IV/06 * Includes group-specific net impairment losses

20 Quarterly earnings before tax million 250 ROE 15 % % % 6 % ROE, % 50 3 % 0 I II III IV/05 I II III IV/06 0 %

21 Quarterly loans and deposits billion Loans (excl. loans mediated from Treasury funds) Deposits I II III IV/05 I II III IV/06

22 Quarterly life insurance liabilities and capital in mutual funds billion Life insurance liabilities Capital in mutual funds 2 0 I II III IV/05 I II III IV/06

23 Quarterly life insurance liabilities and capital in mutual funds (incl. Pohjola from 1 January 2005) billion Life insurance liabilities Capital in mutual funds 2 0 I II III IV/05 I II III IV/06

24 Quarterly non-life insurance premium revenue (IFRS)* 250 million I II III IV/05 I II III IV/06 * Non-life insurance was included in OP Bank Group consolidated figures as of 1 Nov. 2005

25 Capital adequacy

26 Own funds and capital adequacy million % 20 Other Capital loans Tier I own funds excl. capital loans Capital adequacy ratio, % 0 6/2005 9/ / / /2006 0

27 Capital adequacy ratio % Total 9 Tier /2005 9/ /2005 3/2006 6/2006

28 Capital adequacy Change million 30 June June 2005 (%-point) 31 Dec Own funds Tier I % Tier II % 760 Mandatory adjustments Total % Risk-weighted receivables, investments and off-balance sheet items % Capital adequacy ratio, % %-point Tier I funds/risk-weighted items, total, % %-point. 13.1

29 Tier I own funds Milj Change, % Equity capital Pohjola minority interest Cooperative capital not included in equity capital Capital loans Intangible assets Fair value reserve and other reserves Proposed dividend and interst pay-out Other items (eg. assets covering pension liabilities and fair value measurement of investment property) Tier I own funds

30 Own funds calculated according to the Act on the Supervision of Financial and Insurance Conglomerates million Muutos, % Equity capital of OP Bank Group Business segment specific items Goodwill and intangible assets Items included in equity capital and in business segment specific items, which can not be included in conglomerate's own funds Conglomerate's own funds, total Minimum amount of conglomerate's own funds (= required own funds) Solvency of the conglomerate Solvency ratio of the conglomerate (own funds / required own funds) * * percentage points

31 Credit risk indicators million 30 June 2006 Change from yearend 12 month change, % Non-performing loans Households Companies Housing corporations and others Total Non-performing loans of loan and guarantee portfolio, % * -0.1* Change from a year 1-6/2006 earlier Impairment losses of loan and guarantee portfolio, % * * Percentage points.

32 Loans and leasing assets by sector Non-performing and interest-free loans million Change Of loans Corporates and housing associations % % % % Industry % % 99 4 % % Construction % % 47 7 % 5 0.8% Trade and catering % % % % Real-estate investment % % % % Other corporates % % 96 4 % % Housing associations % % 89 8 % 1 0.1% Finance and insurance % 6 0 % % 0 0.0% Public sector entities and non-profit organisations % % 63 9 % 0 0.0% Households % % % % of which: housing loans % % % % Foreign % % % 0 0.0% Other items, net % Total % % % %

33 Balance sheet

34 Main balance sheet items billion June June Balance sheet Loans Deposits

35 Balance sheet million 30 June June 2005 Change million % Receivables from financial institutions Financial assets for trading Receivables from customers Non-life insurance assets Life insurance assets Investment assets Other items Total assets Liabilities to financial institutions Liabilities to customers Non-life insurance liabilities Life insurance liabilities Debt securities issued to the public Other liabilities Equity capital Total liabilities and equity capital

36 Equity capital and cooperative capital 30 June 31 Dec. Change million million % Share of parent company's owners Share capital + share issue account Cooperative capital Reserves Retained earnings Minority interest Equity capital, total Cooperative capital not included in equity capital

37 Loans and customer funds

38 Market shares Date Market share, % Change from yearend 12 month change Loan portfolio Housing loans Corporate loans Deposit portfolio Mutual funds Life insurance savings Life and pension insurance premiums written 1-6/ * Non-life insurance premiums written/pohjola 1-12/ Changes expressed in percentage points. * Change from a year earlier.

39 Loans and customer funds 12-month 30 June change billion 2006 billion % Loan portfolio % Deposits % Mutual funds % Life insurance % Eliminations % Customer funds, total % Loans and customer funds, total %

40 Deposits by customer sectors June 30, % 22 % 69 % Private households Corporate and public sector entities Agriculture and forestry

41 Credits* by customer sectors June 30, % Private households 34 % 60 % Corporate and public sector entities**) Agriculture and forestry *) incl leasing assets **) incl. entrepreneurs

42 Quarterly new loans billion I II III IV/05 I II III IV/06

43 Quarterly net sales of mutual funds e million : 1845 million Jan.- June 2006: 960 million I II III IV I II III IV Pohjola included from November 2005

44 Quarterly life and pension insurance premiums written e million : 788 million Jan. - June 2006: Pohjola OP I II III IV I II III IV

45 Customers, owner-members, et c.

46 Customers customers 1000 customers % 1000 customers % OP Bank Group Customers* Owner-members Pohjola Pohjola loyal customer households** * Pohjola customers included from October 2005 ** personal customers 12-month change Change from year-end

47 Quarterly net increase in number of members Number Year 2005: /2006: I II III IV I II III IV

48 Personnel (net of interns) Change from year-end (number) Member cooperative banks Central Cooperative Consolidated OKO Bank Group OP Bank Group

49 Service network Change from year-end 12 month change Branch offices banking services only 552 insurance services only 53 banking and insurance services 103 Paym ent ATMs Internet client term inals Cash dispensers Online service agreem ents