NOBLE BANK SA CAPITAL GROUP OVERVIEW OF THE 3Q 2008 FINANCIAL RESULTS. October 16th 2008

Transcription

1 NOBLE BANK SA CAPITAL GROUP OVERVIEW OF THE 3Q 2008 FINANCIAL RESULTS October 16th

2 DISCLAIMER This presentation has been prepared solely for information purposes for the customers and shareholders of Noble Bank S.A. and market analysts, and cannot be regarded as an offer or recommendation to engage in any transactions. Information presented in this material is quoted from publicly available and reliable sources; however, Noble Bank S.A. cannot give any warranties with regard to the completeness and fullness of such information. Noble Bank S.A. shall not be liable for results of decisions made on the basis of information contained herein. The information contained in this presentation has not been subject to independent review and may at all times be changed and modified. The publishing of data contained herein by Noble Bank S.A. does not constitute a breach of laws applicable to companies whose shares are listed on the regulated market. The information contained in this presentation has been made public by way of current or interim reports submitted by Noble Bank S.A., or supplements them, and is not a basis for the fulfilment of the disclosure requirements imposed on the Bank as a public company. In no case may the content of this presentation be construed as an express statement or assurance of any kind made by the Company or its representatives. Furthermore, neither the Company nor its representatives shall be in any respect liable (due to neglect or any other reason) for any losses or damage which might be incurred in connection with the use of this presentation or any content contained therein or which might otherwise arise in connection with the information forming a part of this presentation. The Company is not obliged to made public any possible changes to the information, data or representations being a part of this presentation in the event of changes in the Company s strategy or plans or unforeseen facts or circumstances taking place which will have an impact on the Company s strategy or plans. This presentation includes information concerning the banking sector in Poland, and information about the Company s share in the market. Except for the data marked as quoted exclusively from a different source, the market information referred to below has been prepared on the basis of data from third party sources specified herein and includes estimates, assessments, corrections and opinions which rely on the Company s expertise and its knowledge of the industry in which it operates. As such market information, excluding the information annotated as from third party sources, has been partly developed on the basis of estimates, assessments, corrections and opinions and has not been reviewed by independent third parties, it is to some extent subjective. The above estimates, assessments, corrections and opinions are presumed to be based on justified grounds and the developed market information is presumed to duly reflect a situation in the banking industry and on markets on which the Company operates; however, there is no assurance that such estimates, assessments, corrections and opinions are most suitable for drawing conclusions about market information or that market information developed by other sources will not differ materially from that contained herein. Please be aware that the current and interim reports presented by Noble Bank S.A. as part of its disclosure requirements are the only reliable source of information about the position of Noble Bank S.A., forecasts and events affecting it, its financial results and indicators. 2

3 STRUCTURE Noble Bank SA METROBANK Specialist Unit Noble Bank SA INTROBANK Specialist Unit Noble Bank SA WBC Specialist Unit Open Finance MIL * 100% 100% 70% 100% 100% Metrobank specialises in loans and Introbank in products for local government units and the SME sector; together with WBC they form a part of Noble Bank SA. * Introfactor SA company in organisation 3

4 3Q 2008 KEY HIGHLIGHTS INCREASE* DATA AS AT THE END OF 3Q % Branches (63) +23% Group s shareholders equity *** (PLN 655m) +36% ** Group s consolidated profit (PLN 124m) +105% Group s total assets (PLN 4.3bn) +139% Loans and advances (PLN 2.8bn) +181% Deposits (PLN 2.9bn) * Compared with December 31st 2007 ** Compared with September 30th 2007 *** Attributable to Parent Company s shareholders 4

5 INDIVIDUAL NET PROFIT OF THE NOBLE BANK GROUP COMPANIES 1Q Q Q 2008 % zmiana** 3Q Q 2008 % zmiana Net profit* % % Net profit % % Net profit % % Net result x 0-21 x Individual total % % Consolidated net profit*** % % * Net of dividend from Open Finance and Noble Funds TFI ** Change compared with 2Q 2008 *** Attributable to Parent Company s shareholders 5

6 DISTRIBUTION OF INCOME AND 2008/2007 NET PROFIT INDIVIDUAL INCOME OF THE GROUP COMPANIES CONDSOLIDATED NET PROFIT OF THE GROUP COMPANIES 70% 39% PLNm ,6 15,7 278,3 PLNm ,0 7,5 78, ,3 10,9 163, ,9 10,9 2,8 56,1 60, ,6 0 1H H 2008 Noble Bank* Open Finance Noble Funds TFI The Group 0-3,4-6,6 1H H 2008 Noble Bank unconsolidated profit* Open Finance unconsol Noble Funds TFI unconsolidated profit Consolidation elimination Consolidated profit * Net of dividend income from Open Finance and Noble Funds TFI 6

7 SALES OF MORTGAGE LOANS SALES OF MORTGAGE LOANS AT THE NOBLE BANK GROUP PLNm 42% The sales of mortgage loans both the Group s own ones and those of third party partners recorded significant growth over the year , , , ,8 411,8 666,0 748, ,0 361,0 748, , , , , ,0 0 1Q Q Q Q Q 2008 Own products Third party partners products 7

8 SALES OF INVESTMENT PRODUCTS SALES OF INVESTMENT PRODUCTS AT THE NOBLE BANK GROUP PLNm % In 3Q 2008 the sales of investment products grew by over PLN 300m. In line with the plan, the sales of third party partners products were scaled down in favour of the sales of the own solutions Q Q Q Q Q 2008 Bank s own products Third party partners products 8

9 GROWING DISTRIBUTION NETWORK Throughout the past year, the Noble Bank Group expanded with 11 new branches. Another 10 outlets are planned to be set up in As a result of dynamic growth, the number of advisers was increased by 140 within 12 months. LOCATION OF THE NOBLE GROUP BRANCHES 1 Dublin, Ireland Number of branches 3Q Q Open Finance Open Direct Noble Bank 8 8 Total Number of advisers 3Q Q Open Finance and Open Direct Noble Bank Total Open Finance branch Open 1 Direct branch Noble Bank branch 9

10 OPEN FINANCE BUSINESS OPERATIONS In spite of escalating pessimistic sentiment on the financial markets, in 3Q 2008 Open Finance s customers continued to readily take out mortgage loans and invest their savings. The value of mortgage loans offered through Open Finance in the first three quarters of 2008 increased by almost 44% (compared with three quarters of 2007). SALES OF FINANCIAL PRODUCTS THROUGH OPEN FINANCE FEE AND COMMISSION INCOME ON BROKERAGE 17% PLNm % % Q-3Q Q-3Q Q Q 2008 PLNm ,3 0,5 106,0 0,2 26,7 30,6 97,0 75,2 1-3Q Q 2008 Total value of investment products Value of loans given Fees and commissions other Fees and commissions investment products Fees and commissions loans 10

11 NOBLE FUNDS TFI BUSINESS OPERATIONS TOTAL VALUE OF ASSETS UNDER MANAGEMENT PLNm 2000 In 3Q 2008, the assets of Noble Funds FIO (open-ended investment fund) decreased by 6.09%. In the same period, the value of assets of the Polish investment fund companies declined by 10.45%, according to IZFA (Chamber of Fund and Asset Management). Slight decrease in the asset value compared with the market performance is a very good result not least taking into account the fact that Noble Funds TFI focuses mainly on equity products ,5 1533,8 409,6 1145, ,3 818, ,2 261,5 883,7 936,0 150,7 785,3 869,7 132,2 737,5 0 3Q Q Q Q Q 2008 Asset management Retail funds 11

12 METRO BANK BUSINESS OPERATIONS MORTGAGE LOANS AT METROBANK 30% 36% In 3Q 2008, the value of mortgage loans given at Metrobank exceeded PLN 748m. The value of Metrobank s portfolio of loans given exceeded PLN 2.7bn. PLNm % , , , ,4 1543,5 666,0 748,13 411,8 1Q Q Q 2008 Value of loans given Portfolio of mortgage loans 12

13 NOBLE BANK HAS OVERLIQUIDITY YEAR BONDS DEPOSITS WITH MATURITIES OF LESS THAN 1 YEAR DEPOSITS WITH MATURITIES OF MORE THAN 1 YEAR LIQUID ASSETS 616 SHAREHOLDERS EQUITY SHORT-TERM DEPOSITS ARE COVERED BY LIQUID ASSETS AT 81% All figures in PLNm 13

14 CONSERVATIVE LOAN-TO-DEPOSIT RATIO 2008E % * PKO BP BZ WBK BRE Bank Millennium Bank Handlowy ING Bank Slaski Kredyt Bank Noble Bank *Including retail deposits as part of structured products and banking securities in the amount of PLN 412m (first repayment date in July 2010, next in 2012), figures as at the end of September Source: UniCredit CAIB 14

15 NO NEED FOR REFINANCING As at the end of September 2008, the proportion of liquid assets to total assets stands at 30%. Current financing balance is PLN 3,591m. The monthly growth of deposit base in the past quarter was ca. PLN 200m

16 PLANS FOR THE NEAREST FUTURE Steady maintenance of one of the highest solvency ratios in the banking sector. Strong focus on the growth of the deposit base; offering for retail customers, local government units and the SME sector. Concentration on the development of products with capital protection for customer investments. A wide deposit offering for the sector of local government units. Launch of a business line of credit cards at the turn of 2008/2009. Possible acquisitions of existing distribution networks (of financial intermediaries). Taking care to keep liquid assets at at least 25% of the Bank s total assets. 16

17 APPENDICES

18 KEY FINANCIAL HIGHLIGHTS PLNth 1-3Q 2007 % share 1-3Q 2008 % share/change Consolidated net profit Share in net profit (unconsolidated) Noble Bank* % % Open Finance % % TFI % % Introfactor % Return on equity Group 30,2% ,2% 1,0 Return on equity Bank 21,9% ,8% 5,9 Return on assets Group 7,5% --- 3,9% -3,3 Return on assets Bank 5,5% --- 3,2% -2,3 C/I ratio Noble Bank* 24,5% ,3% -0,2 C/I ratio Group 45,0% ,9% -7,1 Solvency ratio Bank** 33,80% ,39% -16,41 * Net of dividend income from Open Finance and Noble Funds TFI. ** As at September 30th 2008 and including the profit for the nine months of 2008, the Bank s solvency ratio is 18.85%. 18

19 CONSOLIDATED PROFIT AND LOSS ACCOUNT PLNm 3Q Q 2008 % change 1-3Q Q 2008 % change Gross interest income 19,4 69,9 260% 39,0 165,2 324% Net interest income 9,7 17,4 79% 22,8 47,7 109% Gross fees and commissions Net fees and commissions Profit on banking activities Administration costs plus depreciation and amortisation 55,5 48,9-12% 132,9 151,1 14% 48,8 42,2-14% 117,5 129,1 10% 75,4 104,5 39% 176,2 271,6 54% 32,8 43,5 33% 91,2 116,7 28% Operating profit 45,4 58,3 28% 115,5 157,1 36% Net profit * 35,1 45,9 31% 91,2 124,0 36% * Attributable to Parent Company s shareholders 19

20 CONSOLIDATED BALANCE SHEET PLNm 1Q Q Q 2008 Cash and balances with Central Bank 67,5 111,6 121,8 Amounts due from other banks 700,8 646,6 538,8 Amounts due from customers 1 612, , ,9 Financial assets at fair value 359,0 496,0 630,5 Tangible fixed assets 16,9 20,0 22,3 Intangible assets 102,2 102,6 102,8 Total assets 2 905, , ,6 Amounts due to banks 204,7 346,7 339,8 Amounts due to customers (including amounts due at fair value through profit or loss) 1 696, , ,0 Long-term debt liabilities 353,7 354,7 412,7 Total liabilities 2 330, , ,2 Share capital 215,2 215,2 215,2 Other reserves 294,0 295,5 Current year profit* 37,1 78,1 124,0 Total shareholders equity* 567,6 607,5 654,9 Total shareholders equity and liabilities 2 905, , ,6 Book value per share 2,64 2,82 3,04 * Attributable to Parent Company s shareholders 20

21 THANK YOU FOR YOUR ATTENTION 21