ANALYST MEETING. PT Bank Tabungan Negara (Persero) Tbk. Business & Financial Performances as of December 31, Jakarta, February 26 th 2015

Transcription

1 ANALYST MEETING PT Bank Tabungan Negara (Persero) Tbk. Business & Financial Performances as of December 31, 2014 Jakarta, February 26 th 2015

2 Disclaimer IMPORTANT: The following forms part of, and should be read in conjunction with, the other material in this presentation This presentation contains privileged information and has been prepared solely for the recipient(s). By accepting a copy (or the contents) of this presentation, you are deemed to have acknowledged and agreed to the provisions appearing hereinafter. The existence of this presentation and the contents thereof should not be disclosed, reproduced, copied or otherwise disseminated to any other person or published, in whole or in part, without prior consent of PT Bank Tabungan Negara (Persero) Tbk. ( BTN or the Company ). This presentation does not constitute or form part of any offer for sale or invitation, or solicitation of an offer, to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis of or be relied on in connection with any contract or commitment whatsoever. Any decision to purchase or subscribe for securities should be made only on the basis of the information contained in a prospectus or offering circular issued by the Company in connection with any such offering. Information and opinions contained in this presentation are provided for reference of the recipients only and are not to be relied upon as authoritative or without the recipient s own independent verification or taken in substitution for the exercise of the recipient s own judgment. Any reference to past performance should not be taken as an indication of future performance. In furnishing the presentation, the Company has not undertaken to provide the recipient(s) with access to any additional information or updates. None of the Company warrant or guarantee whatsoever that this presentation will lead to the successful completion, or consummation, of any transactions whether or not under contemplation. Accordingly the Company disclaims any liability whatsoever in connection therewith and with any decisions that might be taken upon the basis of this presentation, directly or indirectly. In particular, the Company owe no duty to the recipient (except as required by applicable laws) to exercise any judgment on its behalf as to the merits or suitability of any transaction. The recipient agrees that the merits or suitability of any such transaction to its particular situation will be independently determined by the recipient including consideration of the legal, tax, accounting, regulatory, financial and other related aspects thereof. 2

3 Outline 1. Macro Economy & Result Summary 4 2. Performance Overview 8 3. Sharia Bussiness Appendix 33 3

4 1. Macro Economy & Result Summary 4

5 Summary on 2014 Indonesia s Macro Economy (1/2) 1Q 2Q 3Q 4Q Indonesia s economic growth has been sluggish, reflected in declining GDP from 5.72% in 2013 to 5.20% (yoy) in 1Q14. Loan growth decelerated from 21.6% in 2013 to 19.47% (yoy). Meanwhile bank s liquility had to bear the burden of tight LDR, rose from 89.7% to 91.4%. Cost of funds have continued to increase, while system LDR remained high at 90.5%. As a result, banks face earnings pressure. NIM contracted to 4.22% while NPL increased to 2.18%. Loan growth has continued to slow to 17.20% (yoy) in June GDP has continued to decline, at 5.01% yoy in 3Q14. Loan growth continued to follow a decelerating trend, in line with moderating domestic demand. Loan growth was 13.15% (yoy), while NPL increased to 2.29%. OJK has introduced a cap on time deposit rates of 7.75% for deposits less than Rp2 bn and 9.50%/9.75% for time deposits by banks in BUKU 4 and 3, due to irrational competition in time deposits which led to higher cost of funds. In November 2014, BI raised the benchmark rate by 25 bps to 7.75% after the Government hiked subsidized fuel prices. Inflation rose to 8.36%. 5

6 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 Nov' % 3.99% 4.53% 4.83% 15.81% 14.76% 14.16% 15.61% 13.60% 11.56% 13.64% 13.32% 13.79% 6.70% 6.23% 7.32% 7.25% 7.32% 19.07% 20.18% 21.24% 19.85% 13.29% 11.94% 6.44% 6.33% 6.34% 6.21% 6.18% 6.03% 5.76% 5.63% 5.20% 5.12% 5.01% 5.01% 5.72% 25.52% 25.12% 23.00% 22.97% 22.11% 20.73% 25.95% 23.23% 21.80% 19.61% 17.19% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.75% 7.75% 8.38% 8.22% 7.75% 8.36% Summary on 2014 Indonesia s Macro Economy (2/2) Inflation Remained High Slow Down of Economic Growth Loan & deposit Growth have shown a decelerating trend Inflation BI Rate Loan Growth Deposit Growth GDP 6

7 Result Summary Total assets grew by 10.22% (yoy) to IDR trillion, mainly driven by growth on loan and deposit. Total loans increased by 15.38% (yoy) to IDR trillion, higher than system s growth of 11.7% (as of November 2014) and inline with BI guideline of 15-17% of loan growth in Mortgages and construction loans were the main drivers of loan growth, as we aim to sustain leadership in housing market. Housing loans portfolio increased from 86.50% in Dec 2013 to 88.52% in Dec Bank BTN has been in strong liquidity position, as deposits raised by 10.67% to IDR trillion. CASA shows the highest growth. While industry NPL has continued to increase, Bank BTN successfully brought NPL (gross) down to 4.01%, strongly driven by improvement on mortgages NPLs. Net profit was IDR 1,116 billion or 28.59% lower than 2013, due to high cost of fund as we maintained strong liquidity reserves. Pressure on net profit has also occurred in other BUKU III banks. NIM was contracted to 4.47%, since cost of fund and NPL remained high. At Industry level, NIM also followed a downward trend at 4.20% in

8 2. Performance Overview 8

9 Financial Highlight IDR Billion 9

10 Balance Sheet IDR Billion 10

11 Asset Composition Total Assets (IDR Trillion) Assets Composition (%) 10.89% 9.73% 10.03% 10.68% 9.66% Non Earning Asset 89.11% 90.27% 89.97% 89.32% 90.34% Earning Asset 11

12 Asset Composition Total Earning Asset (IDR Trillion) Loans & Financing Securities Term Deposit With BI Other Earning Asset Total Earning Asset Composition Earning Asset Compositions (%) Term Deposit With BI 1.13% Securities 10.35% Loans & Financing 87.69% Other Earning Asset 0.83% 12

13 Loans Composition Gross Loan (IDR Trillion) Housing and Non-Housing Loans (%) Non Housing Loans Housing Loans % 9.39% 12.21% 13.74% 13.40% 11.48% % 87.79% 86.26% 86.60% 88.52% Note : Figures on all graphs Include Sharia financing 13

14 58.40% 58.10% 46.74% 41.82% 42.96% 41.60% 41.90% 53.26% 58.18% 57.04% Growth in Mortgages Total Mortgages (IDR Billion) Mortgage Composition (%) Non Subsidized Mortgage Subsidized Mortgage 79,948 67,977 37,580 44,415 54,692 Subsidized Mortgages (IDR Billion) 34,347 Non Subsidized Mortgages (IDR Billion) 45,601 39,548 21,945 25,804 25,562 28,429 29,129 15,635 18,611 Note : Figures on all graphs Include Sharia financing 14

15 Loan Disbursement IDR Trillion Q1 Q2 Q3 Q4 IDR Billion Note : Figures on graph and table Include Sharia financing 15

16 Mar'09 Jun'09 Sep'09 Dec'09 Mar'10 Jun'10 Sep'10 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 Mar'14 Jun'14 Sep'14 Dec'14 Mar'09 Jun'09 Sep'09 Dec'09 Mar'10 Jun'10 Sep'10 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 Mar'14 Jun'14 Sep'14 Dec' % 3.97% 4.03% 3.36% 3.98% 4.12% 4.22% 3.26% 4.04% 4.35% 4.18% 2.75% 3.22% 3.46% 3.68% 4.09% 4.77% 4.63% 4.88% 4.05% 4.74% 5.01% 4.85% 4.01% 3.36% 3.38% 3.36% 2.72% 3.27% 3.43% 3.48% 2.66% 3.39% 3.65% 3.46% 2.23% 2.22% 2.42% 2.51% 3.12% 3.83% 3.65% 3.81% 3.04% 3.57% 3.83% 3.63% 2.79% Loan Quality (1/2) Gross NPL Net NPL (%) (%) 3.26% 2.75% 4.09% 4.05% 4.01% 2.66% 2.23% 3.12% 3.04% 2.79% Note : Figures on all graphs Include Sharia financing 16

17 Loan Quality (2/2) Note : Figures on all tables Include Sharia financing 17

18 Liabilities Total Liabilities Funding Composition (IDR Trillion) Funding Composition (%) Deposits from Other Banks 0.94% Securities issued 6.71% Repurchase Agreements 3.01% Time Deposit 44.79% Borrowings 5.51% Savings Account 20.60% Current Account 18.44% (IDR Trillion) Deposits Deposits from Other Banks Borrowings Securities issued Repurchase Agreements Total Funding

19 Deposits Total Deposits Mix (IDR Trillion) Total Deposits (IDR Trillion) CASA Composition (%) TD CASA % 54.88% 56.86% 54.94% 53.43% % 45.12% 43.14% 45.06% 46.57% Savings Account Current Account Time Deposit Total Deposits 19

20 Equity Total Equity (IDR Trillion) CAR - BI (%) 16.74% 15.03% 17.69% 15.62% 14.64% 20

21 Equity 21

22 Income Statement (IDR Billion) 22

23 Interest Income Composition (IDR Billion) 0.60% 0.30% 6.52% 7.34% 84.89% Placement with Bank Indonesia Placement with other bank Securities Loan Income from Syariah 23

24 Interest Expense Composition (IDR Billion) 9.97% 2.54% 6.70% 0.03% 1.06% 79.70% Bank Indonesia Deposits from other Banks Deposits from Non Banks Securities Issued Fund Borowings Others 24

25 Other Operating Income Composition (IDR Billion) 0.71% 12.43% 3.21% 0.55% Mark to market Gain 83.10% Reversal on Provisions Commissions Services & Admin Fee 25

26 Other Operating Expense Composition (IDR Billion) 2.20% 10.47% 4.13% 10.46% 4.65% 11.16% 3.95% 0.12% 0.16% 0.00% 0.10% 10.04% 15.99% 26.58% Provisions Salaries & Employee Benefit Electricity, Telp, Office Supp. Others Rent, Service & Maintenance Depreciation Promotion Collector Fees & Consultan Insurance Premium Training Research & Development 26

27 Key Financial Ratios (1/4) Net Income (IDR Billion) 916 1,119 1,364 1,562 1,116 Net Interest Margin Cost Income Ratio 5.99% 5.76% 5.83% 5.44% 4.47% 58.34% 58.98% 60.21% 55.77% 55.63% 27

28 Key Financial Ratios (2/4) ROA 1 before tax 2.05% 2.03% 1.94% 1.79% 1.12% ROA 2 after tax 1.50% 1.49% 1.42% 1.30% 0.81% 1 Calculated based on income before income tax (include tax benefit and extraordinary item)/ average total assets based on Bank Indonesia regulation 2 Calculated based on net profit/average total assets 28

29 Key Financial Ratios (3/4) ROE 3 tier 1 capital 16.56% 17.65% 18.23% 16.05% 10.66% ROE 4 balance sheet 14.14% 14.07% 15.28% 15.28% 13.52% 14.07% 13.27% 13.52% 9.14% 3 Calculated based on net profit/average Tier 1 capital based on Bank Indonesia regulation 4 Calculated based on net profit/total stakeholder s equity 29

30 Key Financial Ratios (4/4) Loan-to-Deposit Ratio % % % % % Loan-to-Funding Ratio 91.27% 87.21% 87.32% 81.11% 83.38% Loan to Funding Ratio which includes all source of funds 30

31 3. Sharia Bussiness 31

32 Sharia Business Sharia Assets (IDR Billion) Sharia Deposits (IDR Billion) 7,664 9,571 11,145 5,757 6,593 8,747 3,402 5,056 2,405 3,817 Sharia Net Profit (IDR Billion) Sharia Financings (IDR Billion) ,000 8,081 9, ,847 4,226 32

33 4. Appendix 33

34 59.70% 38.75% 38.76% 36.05% 48.70% 40.30% 61.25% 61.24% 63.95% 51.30% Shares Information Share Ownerships Composition Public Share Ownerships Domestic Foreign IPO 31-Dec Dec Dec Dec Rp Dec-2014 Rp IPO by listed on IDX on 17 Dec 2009 at IDR800 per share Rights issue successfully done in Nov 2012 by issuing additional new shares Market cap as of 31 Dec 2014 was IDR trillion (USD 0.99 billion) 34

35 Outlets I N D O N E S I A 35

36 THANK YOU Investor Relations PT Bank Tabungan Negara (Persero) Tbk Menara BTN Lt Jl Gajah Mada No. 1 Jakarta Pusat Telp : / Facs: investor_ relations@btn.co.id Website : 36