Financial Data Report MCB GROUP LIMITED (THE GROUP) for the period ending 31.Dec.2015
Equity Statistics Particulars Units 31-Mar-16 Current Market Price MUR 205.75 52 week H/L* MUR 225.00 / 197.75 Market Capitalisation MUR Mn 49,007.01 P/B Times 1.34 P/E Times 8.56 Dividend Yield % 3.89 *The 52W/H 52W/L prices are not adjusted to cater for Share Splits/Bonus Issues/Rights Issues and other corporate actions taking place within the 52 week period. Value Traded (MUR 000) 1200000 1000000 386,811 526,184 800000 1,108,163 600000 400000 200000 268,871 381,159 443,779 590,137 1,045,978 351,650 329,095 446,970 230,902 0 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Period 3 Months 6 Months 1 Year 3 Years Stock Returns (%) Stock Returns Index Returns Relative Return (4.8) (3.1) (1.7) (2.4) (11.9) 9.5 4.4 (9.0) 13.5 2.5 (1.9) 4.4 Page 2
Shareholding Pattern (%) (30.06.2015) 6.4 3.1 2.9 National Pensions Fund Swan Life Promotion & Development Ltd Others 87.6 Annual Financial Snapshot Income Statement Year Ended 30-Jun-12 30-Jun-13 30-Jun-14 30-Jun-15 Net Interest Income (MUR Mn) 6,384.8 7,047.10 7,256.30 8,154.20 Growth in NII (%) 10.37 2.97 12.37 Per Share Data (MUR) Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 BVPS 112.34 121.63 132.65 153.56 Diluted EPS 17.4 18.28 18.34 24.04 Key Financial Ratios Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 NIM (%) - 3.45 3.17 3.13 ROTA (%) - 2.15 1.95 2.22 CAR (%) 12.8 13.10 16.30 17.30 GNPA (%) 4.4 5.00 7.30 6.20 Quarterly Financials Dec-15 Dec-14 Sep-15 Growth Growth (MUR Mn) Y-o-Y (%) Q-o-Q (%) Net Interest Income 2,175.5 2,045.1 2,225.9 6.4-2.3 Non Interest Income 1,470.7 1,340.5 1,264.1 9.7 16.3 PBT 2,009.2 1,840.6 1,887.2 9.2 6.5 PAT 1,607.1 1,523.2 1,555.2 5.5 3.3 Loans & Advances 174,929.0 161,036.6 170,582.5 8.6 2.5 Total Assets 299,359.5 265,863.2 284,367.9 12.6 5.3 Per Share Data (MUR) Dec-15 Dec-14 Sep-15 Diluted EPS 6.7 6.4 6.5 Profitability Ratio (%) Dec-15 Dec-14 Sep-15 NIM (Annualized) 3.1 3.3 3.4 ROTA (Annualized) 2.3 2.4 2.3 Page 3
Annual Financial Statistics Income Statement (MUR Mn) Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 Interest Income 11,120.89 11,616.30 11,953.70 12,844.30 Interest Expense 4,736.14 4,569.20 4,697.40 4,690.10 Net Interest Income 6,384.76 7,047.10 7,256.30 8,154.20 Non Interest Income 3,623.46 3,976.30 5,018.60 5,060.00 Total Income (Net Interest Income + Non Interest Income) 10,008.21 11,023.40 12,274.90 13,214.20 Operating Expenses (excluding impairments) 4,615.50 4,902.90 5,290.30 5,525.60 Credit Impairments 518.81 1,081.00 2,039.10 1,163.10 PBT 5,035.09 5,296.80 5,485.70 6,900.30 PAT 4,146.98 4,378.90 4,453.10 5,771.20 Balance Sheet (MUR Mn) Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 No. of Shares (Number) 237,643,655 237,807,999 237,977,261 238,046,079 Total Equity 27,689 30,127.40 32,704.30 37,682.20 Deposits 150,877 166,113.20 186,087.50 219,681.40 Other Borrowings 7,434 13,392.70 14,288.30 15,037.20 Other Liabilities 5,312 6,757.60 7,747.20 7,561.80 DTL 98 136.70 59.10 50.20 Total Equity & Liabilities 191,410.42 216,527.60 240,886.40 280,012.80 Cash & Equivalents 10,847.02 15,394.10 18,802.00 24,528.60 Loans to and placements with other banks 2,681.86 3,480.70 6,010.00 8,811.40 Loans & Advances 135,183.05 148,034.70 150,101.20 163,442.20 Investments 23,587.00 29,133.10 42,658.60 57,623.90 Tangible Assets 6,316.09 6,312.80 6,045.30 6,033.50 Intangible Assets 976.86 977.80 911.20 840.40 DTA 14.88 223.90 225.70 287.00 Other Assets 11,803.68 12,970.50 16,132.40 18,445.80 Total Assets 191,410.42 216,527.60 240,886.40 280,012.80 Tangible Networth 26,697.5 28,925.70 31,567.40 36,554.80 Page 4
Annual Financial Statistics (cont..) Per Share Data (MUR) Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 BVPS 112.3 121.63 132.65 153.56 Diluted EPS 17.36 18.28 18.34 24.04 DPS 6.0 6.35 6.45 8.00 Growth Y-o-Y (%) Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 Growth in NII 10.37 2.97 12.37 Growth in PAT 5.59 1.69 29.60 Growth in EPS 5.30 0.33 31.08 Growth in Loans & Advances 9.51 1.40 8.89 Growth in Total Assets 13.12 11.25 16.24 Key ratios Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 NIM (%) 3.45 3.17 3.13 Cost to Income (%) 46.1 44.48 43.10 41.82 ROTA (%) 2.15 1.95 2.22 RoE (%) 15.74 14.72 16.94 GNPA (%) 4.4 5.00 7.30 6.20 CAR (%) 12.8 13.10 16.30 17.30 Tier I CAR (%) 11.9 12.20 13.30 14.50 Debt / Networth (times)* 6.21 6.35 6.42 C/D Ratio (times) 0.9 0.91 0.84 0.78 *Deposits have been included in the numerator of the Debt/Networth ratio. Without deposits, the Debt/Networth ratio would have been 0.41 times for the year ending 30 June 2015. Please see explanatory note for details on the methodology. Result Analysis MCB reported net profit of MUR 1.61 Bn for the quarter ended December 31, 2015. For further information, please read the explanatory note giving the definition and interpretation of the ratios and data along with the report. Contact: Saurav Chatterjee saurav.chatterjee@careratingsafrica.com +230-58626551 CARE Ratings (Africa) Private Limited Amit Ramsohoy amit.ramsohoy@careratingsafrica.com +230-59553060 CARE Ratings (Africa) Private Limited Disclaimer This report is prepared by CARE Ratings (Africa) Private Limited (CRAF). CRAF has taken utmost care to ensure accuracy and objectivity while developing this report based on information available in public domain. However, neither the accuracy nor completeness of information contained in this report is guaranteed by CRAF or by the Stock Exchange of Mauritius Ltd (SEM). SEM and CRAF make no representations, give no warranty and disclaim all liability in respect thereof and shall not be held liable for any damage, loss or cost incurred resulting from any error in the information or any use of or reliance on the said information. SEM and CRAF are not responsible for any errors or omissions in analysis/inferences/views or for results obtained from the use of information contained in this report and especially state that SEM and CRAF has no financial liability whatsoever to the user of this report. Appropriate independent advice should be obtained before making any investment or relying on the contents contained in this report. Page 5