CREDIT EUROPE BANK NV€¦ · CEB SA (RO) CEB Ltd (UAE) 98% 100% 100% 100% 100% 99.99% 100% 98.93%...

Based on December 2014 consolidated figures

CREDIT EUROPE BANK NV

FIBA Group

2

Fiba Holding (1)

Total Assets : $17.9 billionTotal Equity : $1.4 billion

Fina Holding

An international conglomerate with in-depth expertise in financial sector

Credit Europe Leasing SA (RO)

CEB Ltd (RU)

CEB (Suisse) SA (CH)

CEB (UA)

Credit Europe Leasing LLC (UA)

Credit Europe Leasing LLC (RU)

CEB SA (RO)

CEB Ltd (UAE)

98%

100%

100%

100%

100%

99.99%

100%

98.93%

100%

Bank

Other Financial Institution

40%

GEFIRUS SAS (France)

100%

Cirus Holding B.V. Netherlands

Joint Venture

50%

Oney Bank Russia

Ikano Bank Russia

100%

100%

Financial Non-financial

Notes: (1) Audited YE2013 financials.

FIBA Group

3

Fiba Holding

Retail Real Estate Marine & Logistics

Energy Other

Port Real Estate

Development

Real Estate Management

Kumport Port Services,

Turkey

Fina Holding (1)

Total Assets : $ 3.4 billionTotal Equity : $ 1.2 billion

Sustainable income generation from non-banking investments

Turkey

Turkey, Russia, Ukraine

Turkey, Russia, Ukraine

Turkey

Turkey, Russia,

AJT, Turkey

Fiba Mall Management

ICS Lemi Invest Moldova

Turkey

Financial Non-financial

Notes: (1) Audited YE2013 financials.

Principle

Respect interests of customers and

other stakeholders

“Simple Banking” model providing

“plain vanilla” products to clients

Adhere to local and international

regulations

Strategy

Retail: Conventional and easy to use, retail banking and SME products provided through direct channels

besides 152 branches and 21,733 point

of sale terminals across 6 countries

Corporate: International corporate banking with local experience and expertise, tailor-made trade services

and special expertise in financing of

selected commodities

Robust risk managementNo dividend payment policy supports

growth and enhances capital

Strategy

Current Product/ Country Matrix Across 11 Countries

Strategic Roadmap To Further Strengthen CEB’s Franchise

Key Business Lines Strategy

RetailLoans

Deposits

Implement best practices within the group, across all geographies and business lines in both risk management and sales/marketingOffer easy and transparent retail products such as deposits, credit

cards, loans through various distribution channels

Fine tune asset liability structure by offering time deposit accounts 1 to

10 years

Corporate

Structured Trade & Commodity Finance

Balance Sheet & Project Finance

Specialised TCF teams in Amsterdam, Geneva and Dubai

Increase the market share in selected commodities

Expand trade finance customer base by leveraging on local presence

and market expertise

Focus on project finance and balance sheet lending to solid companies

within target sectors and geographies. N

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Corporate & Commercial Banking

Retail Banking

Private Banking and Portfolio Mgmt

Representative Office

International bank with strong Emerging Europe “experience” and focus on corporate and retail banking

Key elements of success:

� Effective management of assets

� Integration of business lines

� Close proximity to clients

1

Strengthening franchise in selected products and business lines with no new geographic expansion planned

Strategic OverviewStrategic Overview

2

4

2014 Highlights

Others

29%

Russia

71%

Others

61%

Russia

39%

Consolidated Net Income - 2013 Consolidated Net Income - 2014

€ 94.28 million € 58.01 million

Developments in the World

In Ukraine, street protests demanding closer integration

with EU that started in November 2013 turned violent and

continued for several months severely affecting the already

fragile economy.

President Yanukovich was impeached and he fled the capital

in late February 2014.

Following the referendum in Crimea, first round of OFAC

sanctions are imposed on Russia in March 2014 which

was followed later by EU

Oil prices started to decrease from 101.16 per barrel in Sept

2014 came down to 52.60 as of year-end 2014

Political and military tension in Ukraine and sanctions

together with sharp decrease in oil prices hit both

economies in 2014.

In Russia and Ukraine local currencies faced sharp

devaluation while interest rates hiked and asset qualities in

banking have further deteriorated.

Sanctions limited funding possibilities of Russian banks

from ICM

Strategy

CEB has recognised first signs of tensions betweenUkraine and Russia at 2013 Q3 and started to decrease

the retail banking portfolio by tightening underwriting

standards and low appetite for new risk creation

CE Russia retail loan book came down

27%YoY in Rub

49% in €Liquidity is top emphasis together with asset quality &

cost management. Short-term lending of the bank is an

advantage.

CEB Russia is eligible for various state institutionsdeposits.

Conflict Between Russia & Ukraine Conflict Between Russia & Ukraine

CEB RU

€3,352 CEB RU

€1,917

CEB NV

€10,158

CEB NV

€8,715

Dec 2013 100RUB=€2.21

Dec 2014 100 RUB = €1.38

2013 2014

Ass

ets

Siz

e i

n m

io

CEB RU Asset decrease 43% in € YoY

5

Figures at a Glance

Particulars €mm 2012 2013 2014

Total Assets 11,238 10,158 8,715

Loans to Customers

5,962 6,653 5,855

Customer Deposits 5,932 6,002 5,788

Net Income 79.45 94.28 58.01

Operating Expenses

290 301 256

Trade Volume 7,479 8,731 11,359

Cost/Income Ratio (In %)

54.10 51.30 45.70

CET 1 8.89 8.1 11.11

in € million

StrategyClose proximity to clientsEasy to use productsCommitment to retail and corporate banking

Key elements of success;

� Low Leveraged Balance Sheet

� Stable Deposit Base

� Strong Capitalisation

� Sensitive to Asset Quality

� Dynamic & Hands-On Management

OverviewOverview

6

CEB NLCEB

Russia

CEB

Romania

CEB

Suisse

CEB

Dubai

CEB

Ukraine

CEB

Cons.

Total Assets (€mm)

6,121 1,946 1,034 431 254 126 8,715

Loans to customers (€mm)

3,387 1,553 510 242 194 65 5,855

Customer Deposits (€mm)

4,396 584 602 171 25 13 5,788

Net Income(€mm)

29 23 (2) 7 7 5 58

# of Employees 290 3,606 831 58 20 58 4,904

# of Customers ('000s)

411 3,053 587 1 0.1 2 4,054

# of Branches 4 87 58 1 1 1 152

CEB NV Consolidated– Balance Sheet

ASSETS (€’000) FY 2012 FY 2013 FY 2014

Cash and balances at CB 1,237,932 500,873 375,330

Financial assets at FVPL 38,746 17,536 19,184

Financial investments 974,447 1,550,019 1,243,658

Due from banks 380,264 692,841 364,224

Loans to customers (net) 5,954,911 6,652,984 5,854,569

Other assets (incl derivative financial

instruments) 650,800 743,526 857,654

Total Assets 9,237,100 10,157,780 8,714,619

LIABILITIES

Due to customers 5,931,934 6,002,197 5,788,178

Due to banks 1,113,373 1,631,970 773,676

Issued debt securities 664,280 862,220 399,049

Other liabilities (incl derivative financial

instruments) 373,663 442,407 453,934

Subordinated liabilities 505,082 577,713 513,701

Total Liabilities 8,588,332 9,516,509 7,928,538

EQUITY

Share capital 429,500 429,500 429,500

Share premium 163,748 163,748 266,712

C/Y P&L 77,377 93,944 58,033

Retained earnings 180,166 254,720 348,724

Hedge reserves (143,213) (138,639) 11,299

Fair value reserves 8,015 (31,649) (12,716)

Translation reserve (71,342) (134,094) (317,300)Equity attributable to sh-rs' of Parent

Company 640,251 637,529 784,252

Equity attributable to minority interests 8,517 3,743 1,829

Total Equity 648,768 641,272 786,081

Total Liabilities & Equity 9,237,100 10,157,780 8,714,619

Key Ratios FY 2012 FY 2013 1HY 2014

Loans/Assets 64.5% 65.5% 67.2%

Av. Loans/Av. Deposits 98.4% 105.6% 106.1%

Asset size went down by 14% to €8.7 billion because of the decrease in

‘loans to customer’ and ‘financial investments’ portfolios.

� Decrease in ‘loans to customers’ is mainly due to low risk appetitetowards Russian retail portfolio and devaluation of Ruble against EUR

� Exposures in ‘financial investments’ portfolio were partly off-loadedin order to decrease our exposure to certain markets and to realize MtM

gains on this portfolio.

Focus on core expertise customer focused balance sheet with loans

representing 67% of total assets. The Bank ‘s loan book is at € 5.85 billion.

Solid liquidity profile High quality liquid assets totaling to € 1.6 billion.

Low leveraged business model with high quality capitalization (*)� Solvency ratio of 16.7% (2013: 13.5%)

� Common Equity Tier I ratio of 11.1% (2013: 8.1%)

� Leverage ratio at 8.3% (2013: 6.6%)

Healthy ‘loans to deposits’ and ‘loans to assets’ ratio with 106.1% and

67.2% respectively at the consolidated level.

Diversified funding base The Bank has a granular customer deposit base

composed of €4.1 billion retail deposits and €1.7 billion corporate deposits

collected both in developed and emerging markets.

Maturity Profile 63% of the deposits of the bank are time deposits which

clearly showcases the ability of the Bank to raise long term funds.

*Profit for the second half of 2014 has not been accounted in calculation of ratios.

7

CEB NV Consolidated– Income Statement

INCOME STATEMENT (IN € '000)FY 2012 FY 2013 FY 2014

Interest Income 924,548 962,181 900,729

Interest Expense (536,767) (519,303) (504,381)

Net Interest Income 387,781 442,878 396,348

Commission Income 124,087 140,806 140,133

Commission Expense (54,825) (64,065) (65,564)

Commission income, net 69,262 76,741 74,569

Net trading income 18,420 17,794 9,785

Other operating income 28,986 20,002 52,411

Results from financial transactions 31,649 28,872 27,282

Operating Income 536,098 586,287 560,395

Impairment losses (139,902) (176,338) (243,579)

Net operating income 396,196 409,949 316,816

Personnel expenses (148,680) (154,735) (132,826)

G&A expenses (93,946) (90,778) (85,926)

Depreciation and amortisation (19,267) (22,649) (17,055)

Other operating expenses (18,823) (7,798) (7,461)

Other impairment losses (9,203) (24,688) (12,936)

Total operating expenses (289,980) (300,648) (256,204)

Share profit of associates (364) (158) 2,340

Profit Before Tax 105,912 109,143 62,952Tax charge (26,458) (14,863) (4,940)

Profit for the year from cont’d op.s 79,453 94,280 58,013

Key Ratios 1HY 2013 FY 2013 FY 2014NIM 4.6% 4.9% 4.7%

Cost/Income 54.1% 51.3% 45.7%

RoE (before tax) 13.6% 17.2% 10.5%

RoA (before tax) 1.2% 1.1% 0.8%

Target

Cost optimisation without jeopardising franchise

Close watch asset qualityProfitability in all geographies

Performance

Operating expenses reduced by 15% Y-o-Y

Cost/income ratio improved to 45.7%

Increase in Western European corporatebusiness volumes

Increase in impairment losses mainly due to

Russian retail loan book

Minor Loss in CEB Romania due to higherprovision requirements of CBR€58 million consolidated net income

Proven business model that generates sustainable consolidated profit throughout all economic cycles

Stable net interest margin at 4.7%Operating income of € 560 million

OverviewOverview

8

Assets

9

Assets by Product Type

Loan Breakdown

Total Loans: €5,855 million

Source: Company disclosure, IFRS data as at 30 June 2014

Customer focused balance sheet

67% of total assets represented by a well

diversified loan portfolio

Total Corporate Loans: €3,855 million

Corporate Loans by Entity SME Loans by Entity

Total SME Loans: €138 million

Retail Loans by Entity

Total Retail Loans: €1,861 million

Corp.

66%

Retail

2%

SME

32%

CEB NL

73%

CEB RU

10%

CEB RO

3%

CEB CH

5%

CEB DU

5%Others

3%CEB NL

24%

CEB RU

59%

CEB RO

17%

(Assets in EUR Mio)FY 2012 FY 2013 FY 2014

Cash & CB balances 1,238 501 375

Marketable securities 1,013 1,568 1,263

Due from banks 380 693 364

Loans to customers 5,955 6,653 5,855

- Corporate loans 2,778 3,341 3,855

- SME loans 207 186 138

- Retail loans 2,970 3,127 1,861

Derivative financial instruments 254 347 451

Fixed assets 160 142 172

Other assets 237 254 235

TOTAL 9,237 10,158 8,715

Cash & Banks

8%Securities

15%

Loans to

customers

67%

Other

10%

Total Assets: €8,715mn

CEB RU

61%

CEB RO

39%

Int’l Trade & Commodity Finance

Since its inception, CEB has been a niche player in structured trade and

commodity finance

Broad client range: large volume traders to small trading units

Through our presence in key trading hubs such as Amsterdam, Geneva

and Dubai as well as in raw material exporting and importing countries,

we are perfectly positioned to handle our customers’ trade finance

transactions across the globe

Self-liquidating, secured or partly secured and short-term nature of trade

finance accompanied by in-depth expertise gained over the years, it has

been proven to be a sustainable business line and as well as proven to be

resilient to turbulent times

A remarkable increase of 31% in trade volumes on a year-on-year basis

as on 31st Dec 2014.

Open to innovative trade products and structures

Serving traders with a range of specialised products

� Inland financing, prior to shipment against warehouse receipts, tank

warrants and FCR

� Bills of Lading financing

� Distribution and Warehouse financing in the import country

� Receivables financing for sales to reputable parties

� Freight financing, covering transportation costs for sizable amounts

Corporate Banking Trade Volumes (€’mn)Int’l Trade & Commodity Finance

Trade Volume Subsidiary Mix

FY 2012 FY 2013 FY 2014 %YTD ∆

CEB NL(1)

5,573 5,893 7,710 31%

CEB RU(2)

771 1,318 1,787 36%

CEB CH(1)

473 575 752 31%

CEB Dubai1)

648 937 1,100 17%

TOTAL (incl others) 7,479 8,731 11,359 31%

Source: Company disclosure, IFRS data.

(1) Entities with special focus on trade and commodity finance

(2) CEB Russia provides trade related loans only

CEB NL

68%

CEB DU

10%

CEB RU

16%

CEB CH

6%

10

Int’l Trade & Commodity Finance

Import LC

22%

Export LC

10%

Collections

23%LG

5%

Cash Financing

(Pre-export &

Receivable

Financing)

40%

Import LC

20%

Export LC

14%

Collections

20%LG

3%

Cash Financing

(Pre-export &

Receivable

Financing)

43%

3,638 4,4936,083

3,8414,238

5,277

0

2,000

4,000

6,000

8,000

10,000

12,000

2012 2013 2014

Trade Volume by Product Groups (€ million)

Documentary Credits Cash Financing and Collections

Strategy

Specialized in• Metals (Ferrous and non-ferrous)• Energy materials (oil & coal)• Agro-chemicals (incl. fertilizers)• General chemicals (plasticizers and polymers)• Soft commodities (excl. perishables)

Serving more than 200 worldwide freight brokers and shipowners for the daily cash flows

2015Further focus on asset creation in G10 countries Historically low loss given default ratio

Trade Volumes by Product

Trade Volumes by ProductTrade Volumes by product Groups (€million)

11

CEB taps retail deposits across a range of geographies through

direct banking in the Eurozone in addition to its branch network

in Eastern Europe

Low operational costs allow competitive rates to be offered,

especially in long-term time deposits

Liabilities

€1.4billion of deposits collected outside the Eurozone

Deposits Represent 59% Of Total Funds

Source: Company disclosure, IFRS data. The figures shows under 2014 is as on 31st Dec 2014

Deposit Collection Capabilities

Well diversified deposit base with average deposit size of

€11-12 thousand

� more than 500,000 deposit holders in 6 countries

Proven customer stickiness in Western Europe: 61% of the total

deposits outstanding as of FY2007 are still with CEB as on Dec 14.

� Controlled outflow of Eurozone deposits in line with the

liquidity strategy

Deposits remain to be the main funding source of the bank

Total Customer Deposits €5.7 billion

Total Retail Deposits: €4.1 billion

Total Liabilities & Equity:€8.71 billion

Total Corp. Deposits: €1.6 billion

Deposits By Geography

Evolution Of Customer Deposits By Product

Deposits

66%

Due to banks

9%

Debt

securities

5%

Subdebt

6%

Equity

9%

Other

5%

CEB NL

76%

CEB RU

10%

CEB RO

10%

CEB CH

3%

Retail Time

46%

Retail

Current

26%

Corporate

Time 17%

Corporate

Current

11%

2010 2011 2012 2013 2014

Demand 2,368 2,099 1,836 1,918 2,142

Time 4,807 5,399 4,085 4,077 3,647

75%68%

73 % 68% 64%

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

€MM

7,1757,498

5,921 5,995 5,789

Issued Debt Securities

12

€862 billion

€399Billion

0.015

0.016

0.017

0.018

0.019

0.02

0.021

0.022

0.023

0.024

2013 2014

Issued Debt

Securities

€/RUB

53.71%

decrease in

€YoY

Rub/€ deval.

37YoY

Capital Position

13

Leverage Ratio Solvency Ratio

7.69% 7.34%6.98% 6.60%

8.31%

Dec-10 Dec-11 Dec-12 Dec-13 Dec-14

Leverage Ratio

13.25% 12.73%13.40% 13.47%

16.66%

10.07% 9.51% 8.89% 8.12%

11.11%

Dec-10 Dec-11 Dec-12 Dec-13 Dec-14

Solvency Ratios

Solvency Ratio Core Tier 1 Ratio

Stable and proven low leveraged business model - CRDIV leverage ratio of

8.3% at the end of 2014

Strong capital position:BIS ratio 16.66%CET 1 ratio 11.11%

Higher quality of capital in 2014, thanks to the conversion of EUR 103 million

Hybrid Tier I Securities into common equity and retained earnings

Strong shareholder, committed to strengthen the franchise, no dividendpayment to the ultimate shareholder; significant capital generating capacity via

retained earnings

In Q1 2015, the shareholder injected fresh total common equity of EUR 100mio, which further strengthened CEB’s capital position.

*Only the profit for the half year 30th June 2014 has been accounted in calculation of ratios

Regulatory Capital

FY 12 FY 13 FY 14 %YTD ∆

Tier 1 Capital 702,900 724,365 742,609 2.5%

Total Capital 915,692 1,049,778 1,113,254 6.05%

RWA 6,830,904 7,797,255 6,682,607 (14.30%)

CET1 8.89% 8.1% 11.11% 37.16%

CAR 13.40% 13.47% 16.66% 23.68%

CEB Netherlands

Established in 1994

Major business lines: retail, international trade finance and financial institutions

Corporate Banking is serving over 1,500 clients in 40 countries

Well diversified loan portfolio composed of:• Structured trade and commodity finance• Balance sheet lending• Marine finance

Retail banking is serving approximately 400,000 customers in 4 countries;Netherlands, Germany, Belgium, Malta

Focus on customer-friendly direct banking products• Savings: Daily Deposits, Time Deposits• Loans: Installment Loan, Revolving Loan and loan related insurance products

EUR 3.63 billion retail deposit base

(€mm)

Balance Sheet 2012 2013 2014

Total Assets 6,254.9 6,280.3 6,121.0

Loans to customers, net 2,327.7 2,472.8 3,387.1

Securities 845.2 1,236.9 784.0

Customer Deposits 4,315.5 4,091.6 4,395.7

Subordinated Liabilities 346.1 425.9 380.3

Shareholders’ Equity 640.3 637.5 784.3

Income Statement 2012 2013 2014

NII 69.9 67.4 70.6

Net Fee & Commission Income 17.5 14.0 15.9

Trading & Other Operating Income 28.0 32.6 41.5

Total Operating Income 115.5 114.0 127.9

Impairment Losses 51.7 32.5 59.6

Personnel Expenses 36.5 30.1 28.9

Operating Expenses 24.0 14.9 16.1

Net Income 24.5 37.4 30.4

Key Ratios 2012 2013 2014

NIM 1.3% 1.4% 1.5%

Cost/Income Ratio 37.5% 39.5% 35.1%

Cost of credit 1.8% 1.2% 1.4%

Av. Deposits/ Av. Loans 143.0% 156.8% 148.2%

RoAA (After Tax) 0.4% 0.6% 0.5%

Retail,

13%

Corporate 87%

Assets Loan Portfolio

Other

Assets,

20%

Loans,

55%

Due to

Banks,

8%

Securities

13%

Cash and

Equivalents

14

CEB Russia –

Established in 1997 as a subsidiary of Fiba Group and is present in 48 citiesand 41 regions of Russia, covering an area which accounts for 85% of retailbanking activities in Russia

Reputable bank in Russian banking system, eligible for Ministry of Finance,Central Bank and Housing Fund financing facilities; eligible for Pension Funddeposits and its guarantees are accepted by CBR and Russian Customs

More than 10,000 corporate, commercial and SME customers in Moscow andseven other major regions : Kazan, Samara, Ufa, Rostov on Don, St. Petersburg,Yekaterinburg, Novosibirsk

Among top 18 retail banks by asset size

Partnership programs with the leading retail companies of RF: Leroy Merlin,IKEA, Mega, Auchan, Metro

Joint car loan programs with distributors: Hyundai, Hyundai Comtrans, UZDaewoo, Mitsubishi, Mitsubishi Fuso, AvtoVAZ, KIA, Gaz, Chery, Lifan, FAW, ToyotaHino, Iveko

(€mm)


Total Assets 2,924.4 3,363.60 1,945.9

Marketable Securities 49.1 83.7 141.5

Loans to customers, net 2,541.7 2,946.1 1,552.7

Customer Deposits 927.0 1028.0 583.8

Debt Securities Issued 750.2 922.9 435.0

Subordinated Liabilities 188.2 180.7 195.6



NII 239.7 298.3 253.2

Net Fee & Comm Income 28.6 39.5 35.0

Trading and other Income 24.1 16.4 23.5


Credit Loss Charges 54.1 107.1 146.6



Net Income 70.0 67.4 22.8

Key Ratios 2012 2013 2014

NIM 10.0% 9.9% 9.7%




RoAE (After Tax) 16.6% 15.0% 5.0%

RoAA (After Tax) 2.7% 2.1% 0.7%

Other,

5%Cash &

Banks

8%

Loans,

80%

Securities

7%

Retail 70%

Corporate

26%

SME 4%


15

CEB Romania (€mm)


Total Assets 1,146.5 1,171.9 1,034.1


Loans to customers, net 714.0 674.7 509.9




NII 42.3 44.1 45.1




Impairment Losses 42.3 37.7 42.8



Net Income/ (Loss) (24.2) 1.5 (1.8)

Key Ratios 2012 2013 2014

NIM 4.4% 4.5% 5.0%




RoAE (After Tax) -14.4% 1.0% -1.1%

RoAA (After Tax) -2.1% 0.1% -0.2%

Acquired by Fiba Group in 1999

Ranked number 17th by asset size out of 42 banks in Romania

Present in 27 counties of Romania through 58 branches covering 65% of thecountry

A stable and granular deposit base is the core funding source of the bank. The

total customer deposits of the bank remained stable around EUR600 million

during 2014, while the cost of deposits have come further down.

Main franchise of the Bank is its credit cards business; CardAvantaj is the 2nd

largest credit card product in the market with 15% market share (270,000 credit

cards)

An extensive network of POS devices, representing 7% market share.

Installment payments extended online via e-commerce partners (Groupon,

Vodafone, etc.)

Increase in marketing and sales efforts resulted in 62% more activated creditcards in 2014 compared to 2013

Impairment losses have increased mainly because of higher collectiveprovisioning requirement of Central Bank of Romania rather than portfolio

specific provisioning.

Note

1. Basel II methodology

16

Corporate

24%Retail 63%

SME 12%


Others

7%

Loans

50%Securities 32%

Cash and

Equivalents

11%

CEB Suisse

(€mm)


Total Assets 439.8 567.1 481.0






NII 13.3 12.3 15.5




Impairment Losses - 1.5 2.1



Net Income 12.8 5.2 6.7

Key Ratios 2012 2013 2014

NIM 3.4% 3.5% 3.8%


Cost of credit - 1.1% 1.1%


RoAE (After Tax) 10.5% 4.4% 5.3%

RoAA (After Tax) 2.7% 1.3% 1.4%

Acquired by Fiba Group in 1990, first non-Turkish subsidiary of FIBA Group

Expertise in trade finance in Switzerland for close to 25 years, specialized inmetals, energy, textile, agro-chemicals, chemicals, and soft commodities

Provides investment advisory and asset management services to over 850

customers

Total assets under custody reached €1.1 billion as of December 2014

Note

1. Statutory

17

Corporates

93%

Private

Banking

7%


Loans to

Customers

50%

Other

Assets 11%

Cash and

Equivalents

27%

Securities

12%

CEB Ukraine(€mm)


Total Assets 152.2 151.6 126.4






NII 15.6 14.6 7.5

Net Fee & Com Income 1.0 1.1 2.7

Trading & Other Income 1.4 0.3 1.4


Credit Loss Charges 2.8 (0.1) 2.6



Net Income 8.4 11.2 5.2

Key Ratios 2012 2013 2014

NIM 10.9% 9.9% 5.5%


Cost of credit 2.8% (0.2%) 3.2%


RoE (After Tax) 16.3% 16.8% 16.0%

RoA (After Tax) 6.6% 6.9% 3.5%

Established in 2007, operates under full banking license and supervised by theNational Bank of Ukraine and Dutch Central Bank as subsidiary of Credit Europe BankN.V

Ranked 60th by asset size and 50th by capital size among 158 operating banks inUkraine as of December 2014

Selectively serves to local and foreign companies operating in various industries and segments

Close cooperation with supra-nationals for SME financing in Ukraine

Run-off retail loan portfolio

Note 1. Statutory

Loan PortfolioAssets

Loans to

Customers

51%

Cash and

Equivalents

47%

Other

Assets

4%

Securities

8%

Corporate

94%

Retail

6%

18

CEB Dubai

(€mm)


Total Assets 70.8 129.4 253.7

Marketable Securities - 10.2 24.9



Shareholders’ Equity 49.0 50 65.3


NII 3.4 4.4 7.2

Net Fee & Com Income 1.6 1.8 2.5

Trading & Other Income 0.4 0.1 0.6




Net Income 2.9 3.8 7.2

Key Ratios 2012 2013 2014

NIM 3.1% 3.8% 4.1%



RoAE (After Tax) 5.9% 7.5% 12.8%

RoAA (After Tax) 2.7% 3.3% 4.1%

Note

1. In accordance with DIFC

Assets

Cash &

equivalents

13%

Securities,

10%

Loans to

customers,

76%

Other assets,

1%

19

Established in 2008, operates under DIFC (Dubai International Financial Centre)

with “Category 1” license

Specialized in structured commodity and trade finance in MENA and Asiaregion

For trade finance volume stands at EUR 1.1 billion. Target customers areregional and international trading houses specialized in the physical trade of

commodity products (i.e.: crude & refined petroleum products, metals, minerals,

chemicals, soft commodities, etc. ).

Average tenor of CEBD’s trade finance transactions stands at 90 days

Transactions are self-liquidated and financing is being granted on a transactional

basis; hence the Bank maintains a close control over business cycle.

CREDIT EUROPE BANK NV€¦ · CEB SA (RO) CEB Ltd (UAE) 98% 100% 100% 100% 100% 99.99% 100% 98.93%...

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