OP Bank Group. 1 January to 31 December 2006

Transcription

1 1 January to 31 December 2006

2 Key indicators Change * Earnings before tax, EUR m illion Cost/incom e ratio, % Im pairm ent losses on the loan and guarantee portfolio, % Return on equity (ROE), % Return on equity at fair value, % Average personnel Change * Total assets, EUR billion Capital adequacy Ratio of own funds to the minimum amount of own funds** Tier 1 ratio, % *** Market share, % Of total loans Of total deposits Of capital invested in m utual funds Insurance savings through life and pension insurance * Percentage point change, except for earnings before tax, total assets and average number of personnel, for which the change is stated in per cent, as well as the ratio of own funds to the minimum amount of own funds, for w hich the change is stated as a change in the ratio. ** Pursuant to the Act on the Supervision of Financial and Insurance Conglomerates. *** Pursuant to the Credit Institutions Act.

3 31 December member cooperative banks OP Bank Group Central Cooperative OKO Bank plc Subsidiaries Shareholders of series A million customers 1.2 million individual members

4 31 December 2006 MEMBER COOPERATIVE BANKS (232 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 HELSINKI OP BANK PLC HELSINGIN SEUDUN OP-KIINTEISTÖKESKUS OY OP LIFE ASSURANCE COMPANY LTD OKO ASSET MANAGEMENT LIMITED POHJOLA NON-LIFE INSURANCE COMPANY LTD A-INSURANCE LTD POHJOLA IT PROCUREMENT LTD OKO CORPORATE FINANCE LTD OKO VENTURE CAPITAL LTD OP-KOTIPANKKI OYJ OP BANK GROUP MORTGAGE BANK PLC EUROOPPALAINEN INSURANCE COMPANY LTD POHJOLA PROPERTY MANAGEMENT LTD SEESAM NON-LIFE INSURANCE COMPANIES OKO CAPITAL EAST LTD ZAO OKO CAPITAL VOSTOK OP FUND MANAGEMENT COMPANY LTD FD FINANSSIDATA OY OTHERS OTHERS OTHERS

5 results, compared with previous-year figures

6 Income statement million 1 January to 31 December Change million % Net interest income Other income Total income Personnel costs Other expenses Total expenses Impairment losses on receivab Returns to owner-members Earnings before tax Cost/income ratio, % 55 55

7 Income statement 1 January to 31 December Net interest income Other income Personnel costs Other expenses Impairment losses on receivables Returns to owner-members Earnings before tax million

8 Income statement million Change 1 January to 31 December million % Interest income Interest expenses Net interest income Impairment losses on receivables Net interest income after impairment losses Net income from non-life insurance operations Net income from life insurance operations Net commissions and fees Net trading income Net investment income Other operating income Personnel costs Other administrative expenses Other operating expenses Returns to owner-members Share of associates' profits/losses Earnings before tax

9 Other income Net income from non-life insurance Net income from life insurance January- December Net commissions and fees Net trading and investment income Other operating income million

10 Income statement of business segments 1 January to 31 December 2006 Banking and Non-Life Life Eliminations and Other million Investment Services Insurance Insurance Operations Total 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 ow ner-members Earnings before tax

11 Income statement of business segments Banking and Investment Services Change million 1-12/ /2005 million % Net interest income Other income Total income Personnel costs Other expenses Total expenses Impairment losses on receivables Returns to owner-members Earnings before tax

12 Income statement of business segments Non-Life Insurance million 1-12/ /2005 Net interest income -8-1 Net income from non-life insurance Other income 23 7 Total income Personnel costs Other expenses Total expenses Earnings before tax 78 27

13 Income statement of business segments Life Insurance Change million 1-12/ /2005 million % Net interest income Net income from life insurance Other income Total income Personnel costs Other expenses Total expenses Earnings before tax

14 quarterly figures

15 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, %

16 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

17 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

18 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

19 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

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

21 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

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

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

24 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

25 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

26 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

27 Capital adequacy

28 Own funds and capital adequacy million % 20 Other Capital loans Tier 1 own funds excl. capital loans Capital adequacy ratio, % 0 12/ / / / /2006 0

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

30 Capital adequacy Change million 31 Dec Dec (%-point) Own funds Tier % Tier % Mandatory adjustments % Total % Risk-weighted receivables, investments and off-balance-sheet items % Capital adequacy ratio, % %-points Tier 1 funds/risk-weighted items, total, % %-points

31 Tier 1 own funds million Change, % Equity capital Pohjola minority interest -196 Cooperative capital not included in equity capital Capital loans Intangible assets Fair value reserve and other reserves Proposed dividend and interest pay-out Other items (eg. assets covering pension liabilities and fair value measurement of investment property) Tier 1 own funds

32 Own funds calculated according to the Act on the Supervision of Financial and Insurance Conglomerates million Change, % 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 cannot 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) * * change in ratio

33 Credit risk indicators million Change, % Non-performing loans Households Companies Housing corporations and others Total Non-performing loans of loan and guarantee portfolio, % * 1-12/ /2005 Change Impairment losses of loan and guarantee portfolio, % * * Percentage points

34 Loan and guarantee portfolio by sector Non-performing and interest-free loans EUR million Change, % % of loan and guarantee portfolio Corporates and housing associations % Industry % Construction % Trade and catering % Real-estate investment % Other corporates % Housing associations % Finance and insurance Public-sector entities and non-profit organisations % Households % Housing loans % Foreign % Total %

35 Balance sheet

36 Main balance sheet items billion Dec Dec Balance sheet Loans Deposits

37 Balance sheet million 31 Dec Dec 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

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

39 Loans and customer funds

40 Market shares Change Loan portfolio Housing loans Corporate loans Deposit portfolio Mutual funds Life insurance savings / /2005 Life and pension insurance premiums w ritten Non-life insurance premiums written/pohjola 26.0 Changes expressed in percentage points * 2006 m arket share not available

41 Loans and customer funds 12-month 31 December change billion 2006 billion % Loan portfolio % Deposits % Mutual funds % Life insurance % Eliminations Customer funds, total % Loans and customer funds, total %

42 Deposits by customer sector 31 December % Private households 22 % Corporate and public sector entities *) Agriculture and forestry 68 % *) incl. entrepreneurs

43 Credits* by customer sector 31 December % Private households 34 % 60 % Corporate and public sector entities**) Agriculture and forestry *) incl leasing assets **) incl. entrepreneurs

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

45 Quarterly net sales of mutual funds 1200 million : million 2006: million I II III IV I II III IV Pohjola included from November 2005

46 Quarterly life and pension insurance premiums written million : 788 million 2006: 867 million Pohjola OP 50 0 I II III IV I II III IV Employees group life insurance included only at 31. Dec

47 Customers, owner-members, et c.

48 Customers OP Bank Group Change 1000 customers 1000 customers customers % Customers* Owner-members Pohjola Pohjola loyal customer households* * personal customers

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

50 Personnel (net of interns) Change (number) Member cooperative banks Central Cooperative Consolidated OKO Bank Group OP Bank Group

51 Service network Change Locations offering banking services only offering insurance services only offering banking and insurance services OP-Kiinteistökeskus outlets Online custom er term inals Paym ent ATMs Online service agreem ents

52 5-year trend

53 Earnings before tax and return on assets ( FAS) million % Earnings before tax, million Return on assets (ROA), %

54 Net interest income and net commissions and fees ( FAS) million Net interest income Net commissions and fees

55 Impairment losses on receivables ( FAS: Loan and guarantee losses) million

56 Non-performing loans 200 million 2,0 % 150 1,5 % Interest-free loans 100 1,0 % Non-performing loans 50 0,5 % % of loan and guarantee portfolio ,0 %

57 Own funds and capital adequacy ratio ( FAS) billion % Tier II own funds Tier I own funds Capital adequacy ratio, % Tier I funds/ Riskweighted items, total, %

58 Balance sheet ( FAS) billion

59 Customer funds 50 billion Mutual funds Life insurance Deposits

60 Loans and deposits billion Loans (excl. loans mediated from Treasury funds) Deposits

61 Life insurance and mutual funds billion Life insurance 6 Mutual funds

62 Customers and owner-members Customers Members Customers Owner-members

63 Service network Locations * 400 Payment ATMs 200 Online customer terminals * from 2005 banking and insurance locations

64 Personnel