ARGENTINE FINANCIAL SYSTEM

Transcription

1 June 2012

2 ARGENTINE FINANCIAL SYSTEM 2

3 FINANCIAL INSTITUTIONS: Distribution 52 Foreign Capital 21 National Capital Públic Banks Private Banks Financial Com pany Credit Unions Total: 80 Financial Institutions Source: BCRA. December

4 FINANCIAL INSTITUTIONS: Ranking Top 15 LOANS P$mm DEPOSITS P$mm 1 NACIÓN ARGENTINA ,50 NACIÓN ARGENTINA ,90 2 SANTANDER RÍO ,70 PR. BUENOS AIRES ,40 3 GALICIA Y BS. AS ,70 SANTANDER RÍO ,80 4 MACRO S.A ,60 GALICIA Y BS. AS ,70 5 FRANCÉS S.A ,80 FRANCÉS S.A ,90 6 PR. BUENOS AIRES ,60 MACRO S.A ,20 7 HSBC BANK ,00 HSBC BANK ,10 8 CIUDAD DE BS.AS ,50 CREDICOOP COOP ,90 9 CREDICOOP COOP ,50 CIUDAD DE BS.AS ,50 10 PATAGONIA S.A ,20 CITIBANK N.A ,30 11 CITIBANK N.A ,10 PATAGONIA S.A ,20 12 STANDARD BANK 9.150,90 STANDARD BANK ,10 13 HIPOTECARIO 6.829,50 PR. DE CÓRDOBA 7.686,50 14 PR. DE CÓRDOBA 5.835,00 SUPERVIELLE S.A , SUPERVIELLE S.A. Subtotal TOTAL 5.560, , ,30 NVO. SANTA FE S.A. Subtotal TOTAL Source: BCRA. December Source: BCRA. December , , ,00 4

5 FINANCIAL INSTITUTIONS: Ranking Top 15 ASSETS P$mm EQUITY P$mm 1 NACIÓN ARGENTINA ,50 NACIÓN ARGENTINA ,50 2 SANTANDER RÍO ,00 SANTANDER RÍO 4.739,10 3 PR. BUENOS AIRES ,10 MACRO S.A ,60 4 GALICIA Y BS. AS ,60 FRANCÉS S.A ,30 5 FRANCÉS S.A ,30 GALICIA Y BS. AS ,80 6 MACRO S.A ,20 HIPOTECARIO 3.212,40 7 HSBC BANK ,50 CITIBANK N.A ,80 8 CITIBANK N.A ,80 HSBC BANK 2.996,50 9 CREDICOOP COOP ,60 CIUDAD DE BS.AS ,00 10 CIUDAD DE BS.AS ,30 PR. BUENOS AIRES 2.764,80 11 PATAGONIA S.A ,20 PATAGONIA S.A ,50 12 STANDARD BANK ,50 CREDICOOP COOP ,00 13 HIPOTECARIO ,50 SAN JUAN S.A ,80 14 PROV. DE CÓRDOBA 9.601,20 BICE S.A , NVO. SANTA FE S.A. Subtotal TOTAL 9.556, , ,90 STANDARD BANK Subtotal TOTAL Source: BCRA. December Source: BCRA. December , , ,20 5

6 EVOLUTION ASSETS EQUITY P$mm P$mm Dec Dec-11 Source: BCRA. December Source: BCRA. December LOANS DEPOSITS P$mm P$mm Dec Dec-11 Source: BCRA. December Source: BCRA. December

7 1 Loans to Private Sector by Group of Banks VARIATION % (Annual) PARTICIPATION % (on the Total) ,93% 65,84% Private Banks Public Banks NBFI 59,44% 3,56% 46,66% 50,97% 29,79% 37,09% 41,73% 41,01% 27,39% 31,68% Banco Patagonia 3,70% 66,65% $ ,2 MM Financial System Public Banks Private Banks NBFI Banco Patagonia (1) Loans from non-financial private sector including leasing. Source: BCRA. December

8 Deposits to Private Sector by Group of Banks VARIATION % (Annual) PARTICIPATION % (on the Total) ,20% Private Banks Public Banks + NBFI 32,04% 29,19% 27,68% 30,07% 25,18% 28,76% 29,03% 31,57% Banco Patagonia 3,46% 67,96% $ ,6 MM Financial System Public Banks + NBFI Private Banks Banco Patagonia Source: BCRA. December

9 BANCO PATAGONIA: Market Share P$mm Vs. Private Banks Vs. Total System FINANCIALS Private Sector Loans Private Sector Deposits Shareholders equity Net income (last 12 month) , , ,50 612,2 5,45% 5,10% 5,77% 6,12% 3,61% 3,46% 3,54% 3,89% CLIENTS Demand Deposit Accounts ( 000;#) Credit Card Accounts ( 000;#) (*) Plan Sueldo retail clients ( 000;#) ,43% 3,47% 8,19% 5,03% 2,76% 6,24% NETWORK Branches (#) ATMs y TAS (#) Employees (#) ,57% 5,34% 5,09% 3,54% 4,03% 3,05% (*) Plan Sueldo Marketshare does not include retirees, wich in case of Patagonia account for 76 thousands retail clients. Source: BCRA. December

10 TRACK RECORD 10

11 We have built a solid and respected franchise 11

12 Ownership, governance and shareholder rights Shareholder s structure Board composition Minoritary Group 21,41% (1) Jorge G. Stuart Milne João C. de Nobrega Pecego President Vicepresident No Independent Controlling group Provincia de Río Negro 3,17% Claudemir Andreo Alledo Aldemir Bendine Vicepresident Vicepresident Controlling group Controlling group Banco do Brasil 58,96% Market 16,46% Renato Luiz Belineti Naegele Paulo Rogerio Caffarelli (*) Jaime Osvaldo Tasat (*) Vicepresident Vicepresident Principal Director Controlling group Controlling group Prov. of Río Negro Carlos A. Giovanelli Principal Director Independent Juan Mazzon Principal Director Independent (1) Minoritary Group: J. Stuart Milne, R. Stuart Milne y E. G. Moreno (*) Appointed by the Shareholders' Meeting held on 26/04/2012 "ad referendum" of the approval of the Central Bank of Argentina. 12

13 Float Distribution # Shares % Shares class A ,17% Shares class B ,83% Distribution of the float Shareholder s structure BDR s 4,7% ADS s 2,3% Minoritary Group 21,41% (1) Banco do Brasil 58,96% Provincia de Río Negro 3,17% Market 16,46% Local Shares 93,0% Source: Statement Itau Unibanco and Caja de Valores as at (1) Minoritary group: J. Stuart Milne, R. Stuart Milne y E. G. Moreno 13

14 Banco Patagonia Holding BANCO PATAGONIA S.A. 99% 99,99% 99,99% 100% GPAT Financial Company Patagonia Inversora S.A. Soc. Gte. De F.C.I. Patagonia Valores S.A. Sociedad de Bolsa Banco Patagonia Uruguay S.A.I.F.E. 14

15 PLATFORM FOR GROWTH 15

16 We are a Universal bank with strong positions in the retail and micro & small (SME) Client segments 505 active clients National, provincial and municipal Entities Exclusive financial agent for Province of Río Negro Access to public employees Public Sector Retail 826,644 active clients Leading position in Plan Sueldo Corporate & Capital Market 138 active clients Global Business Strong Capital Markets team Exclusive Corporate unit 440 active clients Local Institutional investors International banking relationships Growing asset management Financial Institutions Small, Middle & Large Companies 22,484 active clients Mainly middle market Dedicated agrobussines unit Focus in regional economies 16

17 Nationwide distribution network North Region 8 Branches 24 ATM s 13 SST Cuyo Region 7 Branches 17 ATM s 9 SST Patagonia Region 35 Branches 116 ATM s 46 SST 3 Customer Services Centers 3 Customer Services Centers 2 Customer Services Centers Province of Buenos Aires 47 Branches 98 ATM s 46 SST 5 Customer Services Centers Litoral Region 6 Branches 13 ATM s 8 SST 2 Customer Services Centers City of Buenos Aires 39 Branches 107 ATM s 57 SST Center Region 12 Branches 24 ATM s 19 SST 2 Customer Services Centers 7 Customer Services Centers Total 180 Branches and Customer Services Centers +390 ATM s 191 SST (Selfservice Terminals) Electronic channels (e-banking, phone banking) 17

18 Breakdown of the balance sheet A- Total Assets Breakdown B- Total Funding Breakdown Public Sector Loans 0,56% Financial Sector Loans 2,82% Marketable Cash and Securities Banks 13,86% Other 14,48% Other Assets 6,28% Other Financial Assets 6,69% Liabilities 4,36% Other Financial Liabilities 10,30% Equity 13,78% Deposits 71,56% Private Sector Loans 55,30% Total P$ ,4 mm Total P$ ,4 mm Source: Financial Statements as at Source: Financial Statements as at

19 Evolution and opening loan portfolio... A- Total Loans 1 Growth : 54,6% Growth : 50,7% B- Opening by type of Bank Financial Institutions Public 6,9% Sector 1,4% Corporate 11,5% Retail 30,1% Middle, Large & Corporate 50,1% Growth : 64,0% C- Opening by currency Pesos 86,3% Growth : 16,2% Foreing Currency 13,7% D- Opening by customer Commercial 57,1% Retail 36,8% Q 11 1Q 12 Source: Financial Statements as at ; Numbers expressed in P$mm. 1 Includes gross loans and leasing. Public Sector 1,2% Financial Institutions 4,9% 19

20 Our loan portfolio is diversified... Loans to Private Sector 1 A- Portfolio of private sector loans by product type¹ Growth : 51,0% Growth : 50,0% Credit Cards 12,59% Others 7,08% Overdraft 18,07% Growth : 65,8% Personal 19,52% Growth : 18,9% Leasing 4,33% Morgages 0,61% Receivables 37,81% Total: P$ mm Source: Financial Statements as at ; Numbers expressed in P$mm. 1 Loans from non-financial private sector including leasing Q 11 1Q 12 Source: Financial Statements as at ; Numbers expressed in P$mm. 1 Loans from non-financial private sector including leasing. 20

21 ... coupled with excellent credit metrics and risk atomization. A Asset Quality NLP to total financing ratio 1 Coverage ratio 2 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 138,5% 1,9% 129,9% 2,4% 167,6% 1,2% 239,8% 0,9% 185,90% 1,0% 216,78% 1,0% Q 11 1Q 12 Source: Financial Statements as at Non Performing loans include financings in categories 3 to 6 as per Central Bank. 2 Coverage Ratio defined as allowances for financing by NLP. B- Financing Concentration 1 10 Main Clients 7,00% Following 50 Clients 12,64% 240% 220% 200% 180% 160% 140% 120% 100% C Financing Maturity 1 Between 1 and 2 years 10,24% Between 6 month and 1 year 4,63% Over than 2 years 19,67% Due 0,74% Between 1 and 6 months 23,53% Total: P$ ,8 mm Source: Financial Statements as at Less than 1 month 41,19% 1 Total Financing includes loans, other receivables from financial intermediation, leasing and others. Rest of clients 68,56% Following 100 clients 11,80% Total: P$12.122,8 mm Source: Financial Statements as at Total Financing includes loans, other receivables from financial intermediation, leasing and others. 21

22 Evolution and opening deposit portfolio... A- Total Deposits Growth : 29,3 % Growth : 29,5% B- Opening by type of Bank Corporate 2,9% Financial Institutions 19,5% Retail 44,1% Growth : 57,9 % Public Sector 13,4% Middle Market & Corporate 20,1% C- Opening by currency Growth : 24,3% Pesos 88,6% Foreing Currency 11,4% D- Opening by customer Private Sector 86,3% Public Sector 13,6% Q 11 1Q 12 Source: Financial Statements as at ; Numbers expressed in P$mm. Financial Sector 0,1% 22

23 Evolution private sector deposits portfolio A- Private Sector Deposits 1 Growth : 33,6% B- Private Sector Deposits by product type Others 4,0% Growth : 31,6 % Time Deposits 49,0% Saving Account 28,6% 47% of the funding is very low cost Growth : 51,2 % Checking Account 18,4% Growth : 27,7 % Total P$ ,4 mm Source: Financial Statements as at C- Cost of Private Sector Deposits 14,13% 12,87% (1) Q 11 1Q 12 Source: Financial Statements as at ; Numbers expressed in P$mm. (1) Deposits from non-financial private sector. (1) 0% 0,25% Checking Account Saving Account Time Deposit Badlar Source: Financial Statements as at Note: BADLAR is the benchmark for private sector deposits (over P$1mm) 1 The average rate for time deposits denominated in ARS$. 23

24 Conservative liquidity, provisioning and capitalization levels Liquid Assets / Total Deposits Equity / Total Assets 63,36% 63,28% 17,41% 19,00% 48,95% 35,70% 50,17% 39,61% 14,84% 14,99% 13,37% 13,78% Q 11 1Q Q 11 1Q 12 Source: Financial Statements as at Nota: Liquid assets defined as cash and banks marketable securities. RWA/ Regulatory Capital Source: Financial Statements as at Equity / Total Liabilities Tier 1 31,80% Minimo² 36,00% 25,50% 19,05% 18,74% 21,08% 19,57% 17,43% 15,44% 17,64% 15,98% 19,37% Q Q 11 1Q 12 Source: Financial Statements as at , BCRA. ¹ Net deductions ² Includes counterparty, market and raterisk (BCRA). Source: Financial Statements as at

25 Net Fee Income A Net fee income Evolution B Gross fee income breakdown Net Fee Income P$mm Net Fee Income / Opex % ,8% 51,5% 50,2% 58,3% 48,7% 55,9% 60% 50% Others 20,69% Related w ith assets operations 30,32% % Others incomes 4,03% % % 10% Related w ith liabilities operations 44,96% Q 11 1Q 12 0% Total: P$259,0 mm (1Q 12) Source: Financial Statements as at Source: Financial Statements as at

26 Operating Expenses Efficiency Ratio Operating Expenses Efficiency Ratio (%) Personnel expenses Operating expenses Growth : 26,9 % Growth : 30,6 % Growth : 17,2 % ,36 44,61 54,09 53,77 62,23 50, Growth : 28,8 % Q 11 1Q Q 11 1Q 12 Source: Financial Statements as at Note: Efficiency ratio defined as operating espenses / total net income. 26

27 Margins Yield on earning assets Yield on costing liabilities 25,0% 20,0% Private Sector Loans Total Earning Assets Lebacs 2 2,8 0 % 2 2,5 5 % 2 2,0 4 % (1) 25,0% 20,0% 19,10 % Saving accounts Total costing liabilities Time deposits Badlar (1) 15,0% 10,0% 5,0% 0,0% 15,0 0 % 12,3 0 % 12,3 5 % Q 12 15,0% 10,0% 5,0% 0,0% 14,0 0 % 12,8 7 % 14,13 % 9,7 3 % 5,7 0 % 0,5 0 % 0,2 5 % Q 12 ¹ Average rate for Central Bank Notes 12 month. Total financing margin ¹ Deposit benchmark rate for private banks. Spread 40,0% 40,0% 35,0% 35,0% 30,0% 30,0% 25,0% 25,0% 20,0% 20,0% 15,0% 15,0% 10,0% 10,0% 5,0% 5,0% 0,0% Q 12 0,0% Q 12 Note: Margin calculate as net financial income / average earning assets. Note: Diferences between total costing assets and total costing liabilities. 27

28 ROE / ROA ROE ROA ROE (EBT) 1 ROE 1 ROA (EBT) ROAA 60% 50% 40% 30% 20% 26,2% 18,5% 45,9% 26,5% 38,1% 24,6% 43,5% 27,4% 35,1% 22,1% 50,4% 31,5% 10% 8% 6% 4% 4,6% 3,3% 8,7% 5,0% 6,5% 4,2% 6,1% 3,8% 5,3% 3,2% 6,9% 4,2% 10% 2% 0% Q 11 1Q 12 0% Q 11 1Q 12 Source: Financial Statements as at Calculate by dividing net income for each period by monthly average equity, before (EBT) and after tax. Source: Financial Statements as at Calculate by dividing net income for each period by monthly average assets, before (EBT) and after tax. 28

29 OUR STRATEGY... Continue with the consolidation as one of leading banks at the Argentine financial system. Remain one of the most solid banks and profitable financial system. Enhance the marketing of financial products and services with companies from Brazil that operate in the country, and multinational companies from Argentina to business relationship with Brazil. Consolidate the new corporate business area designed to meet the needs of both Brazilian and Argentinean companies. Growing up in the Agrobusiness segment putting the focus on producers and the exporters / importers that operate in Argentina. Take advantage of de expertise of Banco do Brasil in offering products and services to the public, and also in the development of products for individuals, focusing on the card market (credit, debit and payment). 29

30 APPENDIX 30

31 Balance Sheet Variacion Variacion P$ mm T 11 1T 12 Q o Q Y o Y Assets Cash and cash equivalent 1.431, , , , , ,6 26,1% 38,0% Goverment and Corporate Securities 1.892, , , , , ,4 7,7% -19,5% Prétamos al Sector Público no Financiero 29,5 9,2 90,6 117,0 90,2 108,5-7,3% 20,3% Préstamos al Sector Financiero 299,0 294,8 241,1 634,8 308,6 551,0-13,2% 78,5% Préstamos al Sector Privado no Financiero 3.513, , , , , ,9 2,6% 48,7% Loans 3.842, , , , , ,4 1,6% 49,6% Provisions -106,6-148,0-157,5-219,0-157,3-235,9 7,7% 50,0% Others Credit for financial intermediation 1.338,3 586,4 840, ,3 797, ,6-1,2% 63,9% Leased Assets 184,0 137,2 233,3 491,2 264,5 485,1-1,2% 83,4% Others Assets 356,5 491,1 873,2 940,7 917,1 976,2 3,8% 6,4% Total Assets 8.938, , , , , ,4 5,1% 31,1% Liabilities Deposits 5.245, , , , , ,4 4,9% 29,5% Other Liabilities by Financial intermediation 1.745,2 788, , , , ,6-2,9% 61,1% Subordinated corporate Debt 218,8 61,2 0,0 0,0 0,0 0,0 N/A 0,0% Other Liabilities by Financial intermediation 172,4 533,6 517,1 691,0 623,9 851,7 23,3% 36,5% Total Liabilities 7.382, , , , , ,7 4,7% 33,0% Shareholders Equity 1.556, , , , , ,7 8,3% 20,4% Total Liabilities + Shareholders Equity 8.938, , , , , ,4 5,1% 31,1% 31

32 Balance Sheet Variation P$ mm T 11 1T 12 Y o Y Financial Revenue 967,1 1573,5 1568, ,6 443,7 754,4 70,0% Financial Expenses -329,2-434,0-408,5-747,0-96,1-277,7 189,0% Gross Intermediation Spread 637,9 1139,5 1160,2 1396,6 347,6 476,7 37,1% Net Fee Income 294,3 339,9 432,9 638,2 126,6 186,8 47,6% Total Revenues 932,2 1479,4 1593,1 2034,8 474,2 663,5 39,9% Charge for bad debts -31,7-66,7-53,8-97,1-9,2 24,7-368,5% Administration Expenses -568,6-659,9-861, ,1-259,8-334,5 28,8% Operating Earnings / (losses) 331,9 752,8 677,5 843,6 148,4 304,3 105,1% Other Operating Earning / (losses) 45,1 22,2 59,3 119,6 41,9 21,8-48,0% Income before tax 377,0 774,6 736,8 963,2 190,3 326,1 71,4% Tax 110,3 325,8 255,6 351,0 69,0 119,9 73,8% Net Income 266,7 448,8 481,2 612,2 121,3 206,2 70,0% 32

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