Investor Presentation SEPTEMBER 30, 2009

Transcription

1 Investor Presentation SEPTEMBER 30, 2009

2 LEASING SECTOR IN TURKEY

3 3 ADVANTAGES OF LEASING Expertise on SMEs, consultancy and know-how support in addition to funding. Fast credit approvals -leased asset ownership-, flexible payment plans. FX borrowing option (less costly than bank FX loans).

4 4 TURNOVER Million USD %47 %24 % %35 Leasing Penetration (Leasing /Private sector investments) is still at low levels compared to EU average of 15% and North America average of 30%. %83 % % Q ,4 % ,8% ,1% ,2% ,9% ,4% ,6% ,4%

5 5 MARKET SHARES Leasing Receivables Q3 GARANTİ 14,92% FİNANS 7,90% İŞ 7,08% AK 7,69% FORTIS 7,54% DENİZ (Dexia) 11,20% GARANTİ 17,58% FİNANS 6,31% İŞ 8,34% AK 14,30% FORTIS 7,22% YAPI KREDİ 14,71% OTHERS 28,96% YAPI KREDİ 14,78% OTHERS 31,47% Source: Fider

6 COMPANY OVERVIEW

7 8 SHAREHOLDERS FREE FLOAT 42,3% NEMTAŞ 0,9% İŞ BANKASI 27,8% ŞİŞECAM 0,4% TSKB 28,6% İş Bank group controls 57,8 % of the shares.

8 9 ORGANIZATION CHART INTERNAL AUDIT BOARD OF DIRECTORS GENERAL MANAGER AGM AGM AGM FINANCE MARKETING CREDIT ACCOUNTING OPERATIONS RISK MONITORING IT LEGAL DEPARTMENT HUMAN RESOURCES

9 LEASE PORTFOLIO

10 11 TURNOVER million USD Q3 Non-group turnover İş Bank group turnover Total turnover

11 12 SALES CHANNELS SUPPLIER 1,71% İŞ GROUP 8,93% DIRECT SALES 14,27% İŞBANK BRANCHES 38,01% RECURR. CUSTOMER 37,08% İşbank has 1074 branches in Turkey

12 13 CUSTOMERS Total number of customers in CRM database: Number of Customers that have Outstanding Contract 5279 In 2009, 49% of new leasing volume is generated by recurring customers. Number of Customers that do not have outstanding contract 38475

13 14 SECTORAL DISTRIBUTION METAL IND. 5,40% OTHERS 23,01% TEXTILE 8,30% FINANCE 6,55% PAPER IND. 5,42% MINING 1,89% FOOD 3,39% TOURISM 4,50% GLASS 2,67% CONSTRUCT. 10,65% HEALTH 10,85% CHEMICALS 3,99% TRANSPORT. 13,38%

14 15 EQUIPMENT DISTRIBUTION MEDICAL 6,43% PRINTING 3,51% TOURISM 2,81% OTHER 3,74% MACHINERY 25,14% CONSTRUCTION 12,89% OFFICE 4,45% TEXTILE MACHINERY 5,27% ELECTRONICS & OPTICAL 5,16% TRANSPORT. 12,01% REAL ESTATE 18,59%

15 16 PORTFOLIO DEVELOPMENT mio TL REMAINING TOP 30 CUSTOMERS Number of Contracts

16 17 GEOGRAPHICAL DISTRIBUTION UŞAK 2% ANTEP REG. 3% OTHER 19% ANKARA 11% BURSA 3% İZMİR 4% KÖRFEZ REG. 4% ANTALYA 1% OFFICES # SALES STAFF Head Office 4 Istanbul Europe 5 Istanbul Asia 4 Ankara Rep. Office 5 Antep 3 Bursa 2 İzmir 4 Antalya 3 İSTANBUL 53% TOTAL 30

17 18 CURRENCY DISTRIBUTION 2009Q3 TL 21,12% USD 35,85% EUR 43,03% 2008 TL 22,04% USD 37,13% EUR 40,83% 2007 TL 27,48% USD 32,85% EUR 39,67%

18 19 MATURITY DISTRIBUTION average, months Q LEASE PORTFOLIO BORROWINGS USD EUR TL USD EUR TL

19 20 COLLATERALS* Mortgage 24% Cash + LG + Pledge + Buyback 8% prom. Note+ Personal Guarantee 68% Leased asset, since legally possessed by the lessor, is a collateral. Depending on the lessee s credit ratings and second hand value of the leased asset, additional collaterals(above graph) might be demanded. *Group excluded

20 FINANCIAL PERFORMANCE

21 22 PARTICIPATIONS Total Share Equity Participations Capital (TL) İş Leasing Share % İş Yatırım Menkul Değerler A.Ş ,43 Camiş Menkul Değerler A.Ş ,05 Subsidaires İş Factoring Finansman Hiz. A.Ş ,23 Due to public offering of İş Yatırım Menkul Değerler A.Ş. in May 2007, the value of İş Yatırım shares are marked to market ,19 TL dividend received from İş Yatırım in ( TL)

22 HIGHLIGHTS Million TL Q3 *(annualized) Leasing Receivables % Assets % Borrowings % Equity % Net Profit * % ROA (Avg)* 4.8% 6.7% 3.5% ROE (Avg) * 25.1% 30.5% 15.3% 23

23 24 BALANCE SHEET (consolidated) 000 TL CURRENT ASSETS /Q /Q3 CURRENT LIABILITIES Cash and cash equivalents Short-term borrowings Trading Securities (net) Trade payables Leasing Receivables (net) Advances received Factoring Receivables Other current liabilities Other current assets (net) Corporate tax payable Total Current Assets Total Current Liabilities LONG TERM ASSETS LONG TERM LIABILITIES Factoring Receivables (net) Long term borrowings Leasing receivables (net) Trade payables Assets for sale (net) Reserves for employee benefits Fixed assets (net) Deferred tax liabilities (net) Intangible assets (net) Deferred tax assets (net) Total Long Term Liabilities Goodwill Minority Interest Total Long Term Assets SHAREHOLDERS' EQUITY Capital Reserves Net profit for the year Total Shareholders' Equity TOTAL LIABILITIES AND TOTAL ASSETS SHAREHOLDERS' EQUITY

24 25 INCOME STATEMENT (consolidated) 000 TL 2007 % 2008 % 2009/Q3 % Interest income , , ,5 Interest Expense (47.206) (6,2) (63.131) (7,2) (38.200) (4,3) Foreign currency gains/(losses) (2.371) (678) , , ,1 Factoring Income General and administrative expenses (12.277) (1,7) (14.833) (1,7) (11.831) (1,3) Provision Expenses (9.228) (1,2) (11.833) (1,3) (11.164) (1,3) Other income/(expenses) (net) , , ,6 Profit before taxation and monetary loss , , ,3 Taxation (405) 90 (10.425) Profit after taxation and before monetary loss , , ,1 Net profit before minority interest Minority Interest (256) (4.480) (1.139) Net profit for the year , , ,9

25 26 TAX RESERVE as of 2008 Tax Reserve carried forward 293,396,729 Other Reserves 133,648,254 Total Reserve 427,044,983

26 27 CURRENCY POSITION TL Q3 Cash & cash equivalents 122, ,336 Finance Lease Receivables 726, ,458 Financial Liabilities (872,287) (799,139) Forward Transactions 2,147 (136) Others 18,698 8,126 Net position (2,320) 4,645 Net position / Equity 0.81% 1,53%

27 28 LOSS RESERVE, 2009 Q3 000 TL GENERAL SPECIFIC TOTAL 2009 Opening Reversals (1.874) (774) (2.648) New provisions Reserve transfers (3.199) Write-off - (7.234) (7.234) Closing 2009H

28 29 NPL RATIOS Q3 Gross NPL / Total Receivables % 7,8 % 7,0 % 11 Net NPL / Total Assets % 3,2 % 3,6 % 5,2

29 OTHER ISSUES

30 31 MAIN STRATEGIES Increasing business flow from İşbank branches. Focusing on recurring customers under volatile market conditions. Maintaning a diversified creditor portfolio and competitive funding in all currencies. Strategic partnerships / vendor agreements especially important for operating leasing when available. Target-based performance management system implemented.

31 32 Relative Share Performance ISFIN vs. IMKB 100 1,200 1,000 ISFIN IMKB 100 0,800 0,600 0,400 0, Dec Mar-08 1-Jul-08 1-Oct-08 1-Jan-09 1-Apr-09 1-Jul-09 1-Oct-09