Consolidated 2013 Annual and Fourth Quarter Results Conference Call. Investor Relations

Transcription

1 Consolidated 2013 Annual and Fourth Quarter Results Conference Call Investor Relations March 25, 2014

2 2 Disclaimer Banco de Bogotá and its respective Colombian financial subsidiaries, including Porvenir and Corficolombiana, are subject to inspection and surveillance as financial institutions by the Colombian Superintendency of Finance. The financial information presented in this report is expressed in Colombian pesos, hereby identified as COP, and is derived from the consolidated financial statements of Banco de Bogotá and its subsidiaries in which it holds directly or indirectly 50% or more of the outstanding voting shares, or in which it exercises effective control through an agreement with shareholders. These subsidiaries include: Leasing Bogotá S.A. Panamá, BAC Credomatic, Corporación Financiera Colombiana S.A. and its subsidiaries, Porvenir S.A., Banco de Bogotá S.A. Panamá and its subsidiaries, Fiduciaria Bogotá S.A., Almaviva S.A. and its subsidiaries, Casa de Bolsa S.A., Megalínea S.A., Ficentro, Bogotá Finance Corp. Leasing Bogotá Panamá owns 100% of BAC Credomatic. Such consolidated financial statements were prepared in accordance with the regulations of the Superintendency of Finance and, on issues not addressed by these regulations, generally accepted accounting principles prescribed by the Superintendency of Finance for banks licensed to operate in Colombia, consistently applied, together with such regulations, Colombian Banking GAAP. The financial statements of foreign subsidiaries have been adjusted in order to adopt uniform accounting policies as required by Colombian Banking GAAP. For the purpose of this report, annual variations refer to variations compared to the same quarter of the previous year and quarterly variations refer to variations compared to the immediately previous quarter. In this report we refer to billions as thousands of millions and to trillions as millions of millions (Colombian Pesos). Recipients of this document are responsible for the assessment and use they make of the information provided herein. Banco de Bogotá shall not be responsible for any decision taken by investors in connection with this document. The content of this document is not intended to provide full disclosure on Banco de Bogotá or its affiliates.

3 3 Highlights In 2013 Banco de Bogotá consolidated its international leading regional presence: 12 countries, COP trillion in assets, 16 million customers and 1,467 branches. Two new acquisitions: Grupo Financiero Reformador in Guatemala (assets: US$1.6 billion) and BBVA Panamá (assets: US$1.9 billion), both successfully closed in December These operations will be merged into BAC Credomatic s current operations in Guatemala and Panama, no later than the beginning of next year. In December 2013, Banco de Bogotá was capitalized by its shareholders. The equity offering was for COP 1.3 trillion (20,634,919 new shares). About Banco de Bogotá s performance in 2013: a) Sound core earnings results; b) Consistent loan and deposit growth. On a consolidated basis, loan portfolio grew 28.1% and deposits 25.6%, annually (17.5% and 15.2% without acquisitions); c) Net Income for the year was COP 1.4 trillion and COP 322 billion for 4Q Solid returns: 2.1% ROAA and 15.8% ROAE for 2013; d) Funding mainly through core deposits (70.6%) and ample liquidity.

4 Macroeconomic Overview - Colombia Annual GDP (YoY%) Inflation (YoY Var. %) 10.0% 7.5% 10.0% 7.5% 5.0% Inflation 2013 : 1.9% 4.0% 5.0% 2.5% 4.0% 6.6% 4.0% 4.3% 5.0% 2.5% 3.0% 2.0% 1.0% 2.5%* 2.3%* 0.0% Dec-10 Dec-11 Dec-12 Dec-13 GDP Internal Demand 0.0% 0.0% Feb-11 Aug-11 Feb-12 Aug-12 Feb-13 Aug-13 Feb-14 Headline Ex foodstuff (*) As of February Interest Rates (%) Exchange Rate (COP, %) 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% Central Bank Interest Rate 2013 : 3.25% 0.0% Feb-11 Aug-11 Feb-12 Aug-12 Feb-13 Aug-13 Feb-14 DTF (90 days deposits rate) (*) Last data refers to February Source: DANE. Estimates by Banco de Bogotá. Central Bank interest rate 4.0%* 3.25%* 3,500 3,250 3,000 2,750 2,500 2,250 2,000 1,750 Exchange Rate (COP) 2013 : 1, % 10% -10% 1,500-20% Feb-11 Aug-11 Feb-12 Aug-12 Feb-13 Aug-13 Feb-14 Exchange Rate Annual Variation (%) (*) Last data refers to February %* 2,055 * 0% 4

5 Exchange Rate for other Central American Countries Exchange Rate for Costa Rica Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Macroeconomic Overview Central America Nominal GDP (YoY Var %) Inflation (YoY Var. %) Dec-10 Dec-11 Dec-12 Dec-13 CR GU HO NI PA ES Inflation (YoY) February 2014 CR ES GU HO NI PA ME 2.7% 0.6% 3.5% 5.7% 5.3% 3.4% 4.2% Exchange Rate Trends Exchange Rate February 2014 GU HO NI ME CR Source: Central Banks and IMF. 5

6 Liabilities and Equity Assets Balance Sheet Structure 4Q13/4Q12: 25.0% 4Q13/3Q13: 13.9% % 12.0% 4.6% 16.4% Balance Sheet Structure (Trillion COP) % 9.4% 4.6% 15.8% % 12.2% 3.6% 14.6% 54.9% 56.7% 56.2% Q Q Q Loans and Financial Leases, Net Fixed Investments Equity Investments Cash and Interbank Fund Other Assets % 10.8% 11.1% 5.0% % 13.1% 10.2% 6.2% % 11.2% 11.2% 4.1% 1/ 63.4% 61.1% 63.7% Q Q Q Deposits Interbank and Overnight Borrowings 2/ Other Liabilities Equity Source: Banco de Bogotá. Consolidated Figures. 1/ Other Assets include: Net accrued interest receivable, Customers' acceptances and derivatives, Net accounts receivable, Net property, plant and equipment, Net operating leases, Net foreclosed assets, Prepaid expenses and deferred charges, Goodwill, Reappraisal of assets and Net other assets. 2/ Other Liabilities include: Acceptances and derivatives, Accounts payable, Accrued interest payable, Other liabilities, Bonds, Estimated Liabilities and Non-controlling interest. 6

7 Sound core earnings results and consistent growth (COP Trillion) December 2012 December 2013 Annual Growth Total Assets % Total Net Investments % Total Net Loans % Deposits % Net Income (COP billion) 1,326 1, % Delinquency Ratio 30d 1/ 2.1% 2.3% 0.2% Delinquency Ratio 90d 2/ 1.2% 1.3% 0.1% Solvency Ratio 13.1% 11.2% -1.9% Efficiency Ratio 3/ ROAA 4/ ROAE 5/ 49.6% 2.3% 18.1% 49.0% -0.6% 2.1% -0.2% 15.8% -2.3% Note: Consolidated Figures. 1/ Delinquency Ratio 30d: Past-due Loans over 30 days to Gross Loans. 2/ Delinquency Ratio 90d: Past-due Loans over 90 days to Gross Loans. 3/ Operating Expenses before Depreciation & Amortization/ Total Operating Income before Provisions 4/ Net Profit for the period, annualized / Average Assets for the present period and the immediately previous period. 5/ Net Profit Attributable to Shareholders for the period, annualized / Average Equity for the present period and the immediately previous period. 7

8 Loan Portfolio Breakdown by Business Segment (COP Trillion) % 23.9% 63.2% 4.8% Loan Portfolio Breakdown by Business Segment (COP Trillion) % 24.3% 62.4% 4.7% % 23.9% 62.8% 4.5% 0.5% 4Q13/4Q12.: 28.1% % 23.7% 63.0% 4Q13/3Q13: 13.0% % 0.6% 9.3% 23.9% 62.2% 4.1% 0.5% Leasing Mortgage Microcredit Consumer Commercial Growth (%) 4Q 12 vs 4Q Colombia Central America 1/ % 19.5% 74.9% 19.8% 74.2% 4Q13/4Q12: 14.3% 4.2% % 75.1% 4.0% 1.2% 4Q13/3Q13: 2.3% % % 18.7% 19.0% 74.8% 74.0% 4.1% 2.1% 4Q13/4Q12: 64.2% % 2.3% 25.6% 26.0% 37.7% 37.8% % 37.9% 4Q13/3Q13: 38.9% 2.3% % 25.0% 37.9% % 22.5% 34.5% 34.1% 34.3% 34.3% 34.7% 41.2% Source: Banco de Bogotá. Consolidated Figures. 1/ Since 4Q 2013 it also includes Grupo Financiero Reformador and BBVA Panamá operations 8

9 Loan Portfolio Breakdown by Country 4Q Q 2013 Colombia Panama Costa Rica Guatemala Honduras El Salvador Nicaragua Others 4.3% 3.7% 2.9% 0.3% 4.0% 3.6% 2.9% 0.2% 3.2% 6.6% 8.9% 9.0% 4.5% 72.3% 9.2% 64.5% Total Gross Loans: COP 45.5 Trillion Total Gross Loans: COP 58.2 Trillion Source: Banco de Bogotá. Consolidated Figures. 9

10 Loan Portfolio Quality (1/2) Past Due Loans over 30 days vs. Gross Loans and Coverage Ratio Past Due Loans over 90 days vs. Gross Loans and Coverage Ratio PDL Over 30d/Gross Loans Coverage PDL Over 90d/Gross Loans Coverage 132.2% 122.3% 127.9% 123.6% 123.3% 224.6% 218.5% 229.3% 221.7% 212.9% 2.1% 2.3% 2.2% 2.3% 2.3% 1.2% 1.3% 1.2% 1.3% 1.3% Commercial, Consumer and Mortgage Past Due Loans Over 90 days vs. Gross Loans 1.8% 2.0% 2.2% 2.3% 2.2% 1.0% 1.1% 1.0% 1.2% 1.3% 1.2% 1.3% 1.3% 0.9% 1.0% 0.8% 0.7% 0.6% 1.2% 1.0% Commercial Consumer Mortgage Total Source: Banco de Bogotá. Figures in Colombian GAAP. PDL: Past Due Loans Note: Coverage: Allowance/PDL over 30d and Allowance/PDL over 90d. 10

11 Loan Portfolio Quality (2/2) Non Performing Loans vs. Gross Loans and Charge-offs to Average Non Performing Loans NPL/Gross Loans Charge Offs/Average NPLs 55.1% 54.2% 61.3% 62.9% 63.7% 1.5% 1.6% 1.6% 1.6% 1.7% Credit Quality Trends Figures in Billion COP Initial Past Due Loans , , ,177.0 New Past Due Loans Charge-offs Total Past Due Loans , , , ,329.0 Source: Banco de Bogotá. Consolidated figures. NPL: Non Performing Loans 11

12 Investment Portfolio Investment Portfolio Mix (COP trillion) % Fixed Income % Equity Investments % % 4Q13/4Q12: 8.6% 4Q13/3Q13: 1.9% % 78.3% 76.0% 78.9% 77.4% 80.1% 4Q Q Q Q Q-2013 Investment on Fixed Income, December 2013 (COP 14.7 Trillion) 8.6% 7.9% 19.4% 53.1% 11.1% Note: Consolidated Figures. 1/ Others: Mainly Corporate Securities. Colombian Government Goverment Entities Financial Entities Foreign Governments Others 1/ 12

13 Funding 4Q13/4Q12: 24.9% 4Q13/3Q13: 13.3% Interbank Funds & Overnight 4.6% Funding Mix, 4Q2013 4Q-2013: COP 90.8 Trillion Other 1/ Bonds 8.9% 3.5% Financial Obligations 12.5% Deposit Base Trends (COP Trillion) Checking Accounts Time Deposits Saving Accounts Others 4Q13/4Q12: 25.6% 4Q13/3Q13: 18.6% % % 36.8% 33.6% 36.4% 39.3% % 34.8% 38.9% % % 34.6% 34.9% 38.7% 38.5% 2/ Deposits 70.6% 25.7% 26.1% 25.3% 25.5% 25.9% Gross Loans to Deposits (%) 89.1% 92.9% 89.9% 95.4% 90.8% Source: Banco de Bogotá. Consolidated figures. 1/ Other Liabilities include: Acceptances and derivatives, Accounts payable, Accrued interest payable, Other liabilities, Estimated Liabilities and Non-controlling interest. 2/ Other Deposits include: Deposits from other Banks and Correspondent Accounts, Banking Services Liabilities and Collection Banking Services and Other Deposits. 13

14 Common Equity and Capital Ratio Tier I and II Capital vs. Minimum Solvency Ratio 15.2% 14.5% 13.1% 2.5% 1.2% 2.2% 11.9% 12.7% 12.3% Tier I Tier II 11.4% 11.2% 3.3% 3.7% 8.1% 7.5% Regulatory Minimum: Total: 9.0% Tier I: 4.5% Previous Regulation Decree 2555, 2010 Common Equity (COP Trillion) New Regulation, Decree 1771, Q13/4Q12: 26.9% 4Q13/3Q13: 19.5% Q Q Q Q Q-2013 Source: Banco de Bogotá. 14

15 Net Income from diversified operating revenues Net Income (COP Billion) 2013/2012: 5.6% 1, , Q13/4Q12: -21.3% Operating Revenues (COP Billion) Net Interest Income (1) Fee and Service Income, Net Other 2013/2012: 17.1% 6,502 5, % 12.6% 4Q13/4Q12: 2.6% 4Q13/3Q13: -3.1% 33.9% 34.6% 1,551 1,641 1, % 49.3% Q Q Q Q Jan-Dec Q13/4Q12: 17.1% 4Q13/3Q13: 7.3% Jan-Dec 2013 Credit and debit card fees Pension plan administration Commissions from banking services Warehouse services Fiduciary activities Others Checking fees Branch network services Fee Income Breakdown, 4Q2013 Total 4Q2013: COP 693 Billion Q Q Q Jan-Dec 2012 Jan-Dec % 3.4% 1.3% 1.0% 5.2% 5.5% Source: Banco de Bogotá. Consolidated figures. 1/ After net provisions. Other operating income includes: Net foreign exchange gains (expenses), Gain (Losses) on derivative operations, Gains (losses) on sales of investments on equity securities, Dividend income, Income from non-financial sector, net, and others. 26.4% 33.6% 15

16 Net Interest Margin NIM 1/ (Trillion COP) Interest Earning Assets NIM 6.9% 6.7% 5.8% 5.8% 6.0% Q Q Q Q Q-2013 Quarterly Average Interest Margin 2/ Average Funding Cost Average Loans and Financial Leases Rate 12.1% 11.2% 11.1% 11.0% 11.1% 4.4% 3.9% 3.6% 3.6% 3.6% Source: Banco de Bogotá. Consolidated Figures. 4Q Q Q Q Q / Quarterly Net Interest Income, annualized / Monthly Average Performing Assets (interest earning assets). 2/ Average Loans and Financial Leases Rate: Quarterly Interest Income on Loans, annualized to Average loans and financial leases. Average Funding Cost Rate: Quarterly Interest Expense, annualized to Averages Bearing Liabilities Funding. 16

17 Efficiency (COP Billion) Operating Expense Structure (COP Billion) % 55.5% Salaries Administrative Others 4Q13/4Q12: 13.4% % 51.3% 4Q13/3Q13: 7.0% 1, % 53.5% 2013/2012: 18.2% 3, , % 12.1% 51.6% 51.4% 33.7% 37.2% 35.5% 36.5% 36.7% Q Q Q Jan-Dec 12 Jan-Dec % 49.3% Efficiency Ratio 1/ 53.7% 49.6% 49.0% Q Q Q Jan-Dec 2012 Jan-Dec 2013 Source: Banco de Bogotá. Consolidated figures. 1/ Operating Expenses before Depreciation & Amortization/ Total Operating Income before Provisions. 17

18 18 Contact Information María Luisa Rojas Giraldo CFO Tel.: (571) Martha Inés Caballero Leclercq Investor Relations Manager Tel.: (571) Ext Julián Andrés Rodríguez Casas Investor Relations Analyst Tel.: (571) Ext