Investor Presentation

Transcription

1 Sixty years of sustainable rythm in the Turkish economy Investor Presentation 3Q2010 BRSA Results

2 a Glance Ownership TSKB Credit Ratings (Jan 2010) 42% 50.1% İs Bank Vakif Bank Fitch LTFC Moody s LTFC BB+ Ba3 8% Free Float Corporate Governance Rating SAHA 8.92/10 Main Subsidiaries Yatırım Finansman Securities 96% TSKB Real Estate Appraisal 100% İş Leasing 29% TSKB REIT 64% Established in 1950 Largest private investment & development bank in Turkey Non deposit bank The 16th largest bank in Turkey with USD 4.8 bn asset size 352 employees, 3 branches 2 a Glance Banking Sector Business Lines Financials

3 Financial Highlights Assets Liabilities Long Term Loans (FX) 5 y 57% Liquid Assets (TRY) 30% Long Term Funds (FX) 10 y 60% Repo (TRY) 16% ROE : 20.1% NPL : 0.6% CAR : 25.6% % Financial Summary (USD mln) Assets 4,820 Loans 2,753 Equity 826 Net Income 116 Paid in Capital 700 mln TRY Free Capital (TRY) 13% 3 a Glance Banking Sector Business Lines Financials

4 Banking Sector vs TSKB 3Q 2010 Banking Sector TSKB Development & Investment Banking Group CAR 19.3% 25.6% Number of Banks: 13 Loan/assets 51.6% 57.1% NPL 4.3% 0.6% State t Banks: 3 Cost to income 40.1% 16.2% Private Turkish Banks: 6 NIM 4.5% 4.4% ForeignBanks: 4 ROAE 18.4% 20.1% TSKB s Asset Share : 26 % Banking Sector TSKB 62% Mevduat Deposits 60% Long Term Funding 4 62% of liabilities are deposits (Average maturity is less than 3 months) a Glance 60% of liabilities are long term funding (Average maturity is 10 years) Banking Sector Business Lines Financials

5 Business Lines MAIN BUSINESS LINES Corporate Banking Investment Banking Treasury Key Subsidiaries Corporate Loans Corporate Finance ALM Yatırım Finansman Securities Apex Banking Brokerage Fixed Income TSKB REIT Project Finance Asset Management Spot&Derivative Trading TSKB Real Estate Appraisal Trade Finance TMU TSKB Real Estate Advisory TSKB Real Estate Brokerage 5 a Glance Banking Sector Business Lines Financials

6 Corporate Loans Corporate Lending and SME Loans Specific funds to finance investment projects of mainly mid size SMEs operating in the manufacturing industry, agricultural industry, construction, tourism and services sectors. Specific funds to promote Renewable Energy and Energy efficiency. Over the last 5 Leasing As an investment and development bank, TSKB can finance investments through leasing without establishing a separate leasing company. Trade Finance Through a strong diversified correspondent network, mainly in Europe and USA, Specific export and import transactions of our customers are financed. TSKB Acts as a guarantor or a borrower to meet the medium and longterm financing needs of the customers through ECA facilities. Non cash Loans TSKB, provides non cash loans to its customers for their tenders held in domestic and international markets. years, TSKB has financed almost half of the USD 5bnSME investments and contributed to the creation of 13,000 new jobs. 6 a Glance Banking Sector Business Lines Financials

7 Project Finance Energy Renewable energy investments reached USD 4.5 bn, of which USD 1.4 bn is underwritten by TSKB. 90 projects with total installed capacity of 2,623 MW in Hydro, Wind, Geothermal and Biomass. 46 of these projectsaresyndicated t d with other banks. Around 190 renewable energy projects have been evaluated. 15.5% Market share in total installed capacity of REL in Turkey 7 Natural Gas Distribution USD 180 mn of financing was provided to 17 regions. a Glance Banking Sector Business Lines Financials

8 Apex Banking 10 Commercial Banks 12 Leasing Companies 18% of lending through APEX scheme Placed through 22 intermediary financial i institutions USD 1.19 bn APEX funds Reached 1,139 SMEs SMEs & Exporters 8 a Glance Banking Sector Business Lines Financials

9 Long term Funding Outstanding Funding Base Lenders European Investment Bank (EIB) USD mn World Bank (IBRD) 1,293 1,670 2, ,513 2,848 2,899 Council of Europe Development Bank (CEB) Japan Bank for Int l Cooperation (JBIC) Kreditanstalt für Wiederaufbau (KfW) Q10 Long term funds Short term funds Agence Française de Développement (AFD) Islamic Development Bank (IDB) International Finance Corporation (IFC) ICO of Spain 9 a Glance Banking Sector Business Lines Financials

10 Long term Funding Multilateral t l Funding Agreements (p.a.) 1,039 93% USD mn Long term funding through multinationals within the scope of country assistance programs Outstanding Funds Average Maturity: 10 years 93 % of long terms funds guaranteed by Turkish Treasury EIB 35% IBRD 42% CEB 10% AFD 6% KFW 5% 10 a Glance Banking Sector Business Lines Financials

11 Corporate Finance M&A Continues Continues Continues Continues Impressive track record of M&A buy side and sellside mandates in numerous industrial, commercial and infrastructure projects. AYEDAŞ, Akdeniz Edaş Aksa Enerji TSKB Aroma Su Aroma TSKB Sümer Holding Subsidiaries TAGAS&Beslen TSKB Motorways and Bridges TSKB Buy Side Advisory Sell Side Advisory Advisory to PA Advisory to PA Public Offering & Bond Issuance TSKB REIT and AKSA IPO have been completed in the first half of TSKB plays an active role in corporate and banking bond issuance; TSKB bond issuance is completed in August 2010 and Ekspo Faktoring s bond issuance is completed in October. Emlak Konut REIT IPO is on the way. Strategic Advisory Continues IPO Advisor & Consortium Leader 2010 Bond Issuance Advisor&Consortium Leader TSKB Bond Issuance 2010 IPO Advisor & Consortium Leader 20 million TL 200 million TL million ABD $ 2010 Company and asset valuations, Feasibility studies, Brand appraisals, Strategic investments, Establishment of new companies and investment trusts. Garipoğlu Group Companies Valuation TSKB Advisory to SDIF Continues Continues 2009 Toprak Group Companies Valuation TSKB Advisory to SDIF Karsan Kare Dış Ticaret Valuation TSKB Company Valuation 2009 VESBO Novaplast Valuation TSKB Company Valuation 11 a Glance Banking Sector Business Lines Financials

12 Asset Management & Brokerage Brokerage Investment Advisory and brokerage services to private & institutional customers in equity, fixed income, FX and derivative products TSKB Trading Platform (TTP) and two branches to enhance secondary market activities Asset Management Private Asset Management Conventional Investment Funds Capital Guaranteed Funds under the Umbrella fund TSKB Investment Trust! Ranking 3rd as of 2009! First and Unique Products 12 a Glance Banking Sector Business Lines Financials

13 Composition of Assets TRY mln 6,209 6,654 6,905 7,001 Loan/Asset ratio is 57%. 31% 39% 38% 38% Liquid Assets 64% of assets are FX denominated. 63% 57% 57% 57% Loans 71% of liquid assets are TRY government bonds. 6% 5% 5% 4% Q Q 10 Others Other assets are subsidiaries and tangible assets. TRY, USD, /$ Basket bln Total Assets (TRY) Q Q % ytd 13 Assets TRY Assets USD Assets /$ Basket a Glance Banking Sector Business Lines Financials

14 Loans USD, /$ Basket mln 2,580 2,537 2,642 2,753 8% 97% foreign currency denominated No currency mismatch 48% in EUROs, 49% in USDs 2,335 2,128 2,061 2,163 5 years of average maturity Q Q 10 Loans (USD) Loans ( /$ Basket) Loans by Type 0.6% NPL Ratio Loans by Sector Apex 18% Project Finance Finance Transp & 24% 41% Commun. 7% Corporate Loans Energy 41% 34% Other 22% 14 a Glance Banking Sector Business Lines Financials

15 Securities Portfolio TRY FX ($) 303 1, ,943 1,934 TRY portion 81% Q Q Q 10 TRY Fixed 43% FX Floating 5% TRY Floating 31% CPI FX Fixed Linked 16% 5% TRY Fixed 33% FX Fixed 17% FX Floating 2% CPI Linked 6% TRY Floating 42% Duration is 1y in TRY Fixed, 3.2y in FRN s. FX portfolio o o consists sts mainly of Eurobonds. 88% is in AFS portfolio. 15 a Glance Banking Sector Business Lines Financials

16 Liabilities TRY mln 6, , , , % 17.7% 18.6% 16.0% Repo Long Term Funds Total FX borrowings: USD 3.9 bn 68.4% 58.9% 61.8% 60.1% Other Equity increased by 15% 85% 8.5% 67% 6.7% 6.5% 4.6% 12.1% 15.0% 15.1% 17.1% Equity Leverage ratio 5.8X Q Q a Glance Banking Sector Business Lines Financials

17 Shareholder s Equity TRY mln 15% Capital Adequacy Ratio , ,200 21% 20% 24% 25% 25.6% 21% 22% 23% Q Q Q Q 10 CAR Tier 1 Equity Movement Free Capital Ratio 169 1, % 1, % 11.0% 8.5% Equity as of Cash Dividend MTM Gains Net Profit 3Q Equity as of 3Q Q Q a Glance Banking Sector Business Lines Financials

18 18 Income Breakdown (TRY mln) 3Q 09 3Q 10 Change Adj. Net Interest Income % Net Commissions % Dividend Income % Other Operating Income % Net Banking Income % Personnel Expenses Adm. Expenses Other Op. Expenses Operating Profit Provisions (+/ ) Tax Provisions Net Profit % % % % % % % Banking Income 19% YoY Cost/Income 17% a Glance Banking Sector Business Lines Financials

19 Income Breakdown Net Income 27% 169 Income Breakdown % 84% 86% 84% Interest Income Other Dividend Income Commissions 3Q 09 3Q Q Q 10 Net Interest Income Breakdown Commissions Income Breakdown 54% 61% 60% 50% Liquid Assets 30% 34% 27% 24% Brokerage 14% 15% 22% Fund Mng. 13% 16% 6% 16% 20% Corporate Finance 46% 39% 40% 50% Loans 40% 47% 41% 34% Q Q 10 Non cash Loans Q Q a Glance Banking Sector Business Lines Financials

20 Key Performance Indicators ROAE 30.0% ROAA 20.0% 10.0% 0% 16.0% 20.3% 19.5% 20.1% 4.0% 3.0% 2.0% 2.1% 2.8% 2.7% 3.2% 0.0% Q Q % Q Q % 20.0% 16.0% 12.0% 8.0% 4.0% 0.0% Cost to Income 20.4% 16.2% 17.9% 16.8% Q Q a Glance Banking Sector Business Lines Financials

21 Net Interest Margin 4.8% Quarterly NIM Cumulative NIM 4.4% 4.4% 4.2% 4.3% 4.5% 4.2% 4.1% 4.1% 4.1% 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q Q Q 10 Spread 3.0% 26% 2.6% 2.8% 2.5% 2.3% 2.3% 2.0% 1.5% 21 10% 1.0% Q 10 a Glance Banking Sector Business Lines Financials

22 Contact Us Investor Relations Meclisi Mebusan Caddesi No: 81 Fındıklı Istanbul Turkey Tel: +90 (212) Fax: +90 (212) Internet: Financial Institutions Meclisi Mebusan Caddesi No: 81 Fındıklı Istanbul Turkey Tel: +90 (212) Fax: +90 (212) Internet: 22