TÜRK EKONOMİ BANKASI A.Ş. 2007 1stQ CONSOLIDATED RESULTS.
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Transcript of TÜRK EKONOMİ BANKASI A.Ş. 2007 1stQ CONSOLIDATED RESULTS.
TÜRK EKONOMİ BANKASI A.Ş. 2007 1stQ CONSOLIDATED RESULTS
2Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Outline
TEB Financial Group
Türk Ekonomi Bankası
Financial Highlights
TEB Financial Group of Companies
4Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
TEB Financial Group of Companies *
TEB
TEB Leasing TEB Factoring
TEB NV
TEB Investment
TEB Asset M.
100.0% 100.0%
100.0%
100.0%
100%
TEB Financial Investments
84.3%
BNPP Çolakoğlu
50% 50%
15,7% free float
*/ Ownership percentages used in Consolidation
5Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Growth through cross-selling
4th largest factoring company in Turkey with a 6.7% market share in the sector as of YE 2006
10th largest brokerage and investment house of Turkey with 3,37% market share as of 1Q07 (specialized in M&A’s and IPO’s )
TEB Asset Management
TEB Investment
TEB NV
3.8% market share, 9th largest leasing company in Turkey as of YE 2006
“Turkish specialist” in the EU market, total asset size is EUR 783 mio. as of 1Q07
TEB FactoringTEB Leasing
The Group manages one of the largest and best performing funds in Turkey with total AUM of EUR 460 mio. and has a market share of % 2,93 as of 1Q07.
TEB Financial Group of Companies
Türk Ekonomi Bankası
7Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Coverage41 cities
with 202 branches
Expanding Branch Network
GDP coverage 88%
March 2007
8Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Corporate Banking
Multinationals and corporates with over US$ 50 mio annual turnover
Contribution to results (as of 1Q07): 27.85 % of loans 24.71 % of deposits 34.10 % of customer contribution
Leader in cash management services TEB Cash Management was awarded "The Most
Innovative and Cost-effective Payments Processing Solution Award" in Excellence, in Payments Innovation Awards competition organized by the European Payments Consulting Association (EPCA).
Project Finance solutions
9Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
International Trade
3 trade centers in cooperation with BNPP trade centers network Success story of synergy: Turkish Desks in Algeria, Ukraine and Egypt Share of TEB in foreign trade (mio US$, %) (March 2007)
Undersecretariat of Foreign Trade awarded TEB with “Support of Export Award”
TEB Export TEB Share
TEB Import TEB Share
TEB Total
Volume
TEB Share in Foreign
Trade
1,815 8.94 1,959 5.21 3,774 6.45
10Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Commercial Banking
Corporates with less than US$ 50 mio annual turnover and suppliers and customers of corporate clients
Contribution to results (as of 1Q07) : 49.12 % of loans 13.45 % of deposits 67.98 % of customer contribution
Solution partner in SMEs TEB Academy Support Line Accounting Software Consultancy Structured Loans
TEB KOBİ TV
Solution Partner in SMEs
11Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
FX30,1%
YTL69,9%
Chemicals
5.1%
Textile
12.0%
Metal
11.4%
Others
19.5%
Wholesale/Retail
7.1%
Financial Inst
3.3%
Tourism
5.3%
Transportation Veh.
3.7%
Construction
9.4%
Consumer
10.1%Misc. Services
3.9%
Food, Beverage &
Tobacco
9.2%
Bank-Only Loan Portfolio
Loan Portfolio by Industry 31.03.2007
Source: TEB, BRSA Bank-Only Accounts
Loan Portfolio by Currency 31.03.2007
Well diversified loan portfolio
12Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Non Performing Loans
Non-Performing Loans as a % of Total Loans
Prudent approach, low NPL ratioSource: CMB of Turkey announcements and BRSA Bank-Only Accounts
2.2% 2.4%
7.2%
10.7% 11.5%
27.2%
16.5%
11.5%
6.0% 4.9%3.8%
0.0% 0.2%0.5% 0.6% 0.9%
3.8% 2.5% 2.1% 1.3% 1.1% 0.9%1.09%
0%
10%
20%
30%
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007/1Q
TEB Sector Average
13Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Retail Banking and Small Business
Accelerated growth in Retail business with BNPP joint forces
Introduction of new products Instant Credit Mobile Payment
“Bonus” credit card scheme Introduction of Small Business
Banking solutions Contribution to results (as of 1Q07) :
21.80% of loans 14,0 % retail banking, 7.8 % small business
35.50% of deposits 31.8 % retail banking, 3.7 % small business
-4.56% of customer contribution Emphasis on wealth management
14Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Source: TEB; BRSA Bank-Only Accounts
Retail Loans
40%
41%
15%
4%
41%
29%
24%
6%
40%
25%
23%
12%
0%
25%
50%
75%
100%
2005 2006 2007/1Q
Housing Auto Consumer Credit Card
0.34%
0.56%
0.89%0.91%
0.72%
1.22%
1.38% 1.40%
0.46%
2.54%
3.27%3.36%
0%
1%
2%
3%
4%
Consumer Housing Auto
2004 2005 2006 2007/1Q
Market Share in Retail LoansRetail Loans
15Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Private Banking
Pioneered PB services in Turkey since 1989 A sales channel dedicated to high-networth individuals with a
min.threshold of US$ 800,000 High synergy with TEB Asset Management, TEB Investment, Treasury,
Retail Banking, Commercial Banking, Corporate Banking, for sourcing new clients and product development
Discreationary and non-discreationary asset management, differentiated & tailor made PB products and services package
Total funds managed (as of 1Q07): US$1.3 billion Contribution to results (as of 1Q07):
0.11% of loans 25.69% of deposits 2.48 % of customer contribution
Aim: Tailor-made service by more focus on customers and special products
Leveraging Customer Base
Financial Highlights
17Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Consolidated BRSA B/S Highlights
Source: TEB, BRSA Consolidated Accounts
YTL Million Share Change Share Change
Assets Liabilities
Cash & banks 20.0% 2,235 2,031 10.0% Deposits 64.7% 7,226 6,726 7.4%
M.sec + repos 13.9% 1,557 1,657 -6.0% Repos 7.2% 804 771 4.3%
Loans + Trade rec. 62.3% 6,958 6,371 9.2% Funds Borrowed 13.5% 1,506 1,397 7.8%
Other Assets 2.6% 286 133 115.0% Other Liab. 6.1% 676 488 38.5%
Fixed Assets 1.2% 130 106 22.6% Total Liabilities 91.5% 10,212 9,382 8.8%
Total Assets 100.0% 11,166 10,298 8.4%
Subordinated Loans 2.7% 298 300 -0.7%
Sh. Equity
Capital & Res. 5.5% 615 493 24.7%
Income 0.4% 41 123 n.m.
Total Sh. Equity 5.9% 656 616 6.5%
Total Liab + Equity 100.0% 11,166 10,298 8.4%
Reviewed Audited Reviewed Audited31.03.2007 31.12.2006 31.03.2007 31.12.2006
18Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Balance Sheet Growth
Source: TEB, BRSA Consolidated Accounts
Share 31.03.2007 31.12.2006 Change
AssetsYTL (mio YTL) 57.2% 6,384.64 5,627.36 13.5%FX (mio USD) 42.8% 3,464.58 3,323.11 4.3%
LoansYTL (mio YTL) 60.5% 4,211.29 3,799.23 10.8%FX (mio USD) 39.5% 1,990.50 1,711.97 16.3%
DepositsYTL (mio YTL) 35.5% 2,567.47 2,489.20 3.1%FX (mio USD) 64.5% 3,375.21 3,014.02 12.0%
19Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Consolidated Balance Sheet Composition
Assets Liabilities
Source: TEB, BRSA Consolidated Accounts
24,5%
17,5%
55,6%
2,3%
19,7%
16,1%
61,9%
2,3%
20,0%
13,9%
62,3%
3,7%
0%
25%
50%
75%
100%
2005 2006 2007/1Q
Liquid Assets Marketable Sec. Loans Other
62,0%
10,8%
15,2%
7,2%4,7%
65,3%
7,5%
14,9%
6,0%6,4%
64,7%
7,2%
14,9%
5,9%7,4%
0%
25%
50%
75%
100%
2005 2006 2007/1Q
Deposits Repos Funds Borrowed Equity Other
20Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Loans
Source: TEB BRSA Bank-Only Accounts
∆ Volume
Corporate 1,536,243 31.5% 1,562,392 29.0% 1.7%
Commercial 2,335,416 47.9% 2,647,816 49.1% 13.4%
Big Commercial 1,410,467 29.0% 1,529,086 28.4% 8.4%SME 924,949 19.0% 1,118,730 20.8% 21.0%
Small Business 312,739 6.4% 418,721 7.8% 33.9%
Retail 678,538 13.9% 756,142 14.0% 11.4%
Private 8,589 0.2% 5,824 0.1% -32.2%
1Q 2007YE 2006
21Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Deposits
Source: TEB BRSA Bank-Only Accounts
∆ Volume
Corporate 1,318,631 24.4% 1,499,762 25.4% 13.7%
Commercial 807,169 14.9% 795,769 13.5% -1.4%
Big Commercial 502,965 9.3% 453,079 7.7% -9.9%SME 304,205 5.6% 342,690 5.8% 12.7%
Small Business 196,631 3.6% 221,081 3.7% 12.4%
Retail 1,765,429 32.7% 1,878,355 31.8% 6.4%
Private 1,312,346 24.3% 1,519,587 25.7% 15.8%
1Q 2007YE 2006
22Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Marketable Securities
TotalFloating Rate 67%
Fixed Rate 33%
TRY
Fixed Rate 35%
Floating Rate 65%
FC
Fixed Rate 25%
Floating Rate 75%
Source: TEB, BRSA –Bank-Only
Total
TRL; 83%
FC; 17%
23Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Consolidated BRSA Income Statement Re-Classified
Source: TEB, BRSA Consolidated Accounts
YTL Million Change
Interest Income 354.9 192.3 84.6%
Interest Expense -227.6 -108.9 109.0%
FX Gains / (Losses), net -8.2 -7.4 10.8%
Loan Loss and General Provisions -12.3 -6.7 83.6%
Adjusted Net Interest Income 106.8 69.3 54.1%
Net Trading Income 6.5 16.9 -61.5%
AUM 6.1 9.1 -33.0%
Securities Trading 0.4 7.8 -94.9%
Net Fees, Comm. & Other Operating Income 44.8 29.8 50.3%
Net Fees, Commissions Income 36.8 22.4 64.3%
Other Operating Income 8.0 7.4 8.1%
Non-interest Income 51.3 46.7 9.9%
Non-interest Expense -105.6 -63.6 66.1%
Operating Profit 52.5 52.4 0.1%
Provision for Taxes on Income -11.6 -15.7 -26.3%
Net Income / (Loss) 40.9 36.7 11.4%
Reviewed Reviewed31.03.2007 31.03.2006
24Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Profitability Ratios
Adjusted Net Interest Margin */
ROE (net) ROA (net)
Cost / Income
Source: TEB, BRSA Consolidated Accounts
*/ Adj. Net Int. Margin: (Net int. income+net comm. income fm cash loans-prov.s for loans and other+gain/loss) / Interest Earning Assets
3.80%
3.90%
3.20%
3.96%
0% 2% 4%
2004
2005
2006
2007/1Q
63.2%
61.0%
63.9%
63.5%
0% 20% 40% 60% 80%
2004
2005
2006
2007/1Q
1.10%
1.70%
1.43%
1.53%
0% 1% 2% 3%
2004
2005
2006
2007/1Q
13.70%
22.10%
22.03%
25.73%
0% 10% 20% 30% 40%
2004
2005
2006
2007/1Q
25Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Marketable Sec. / Assets
Ratios
Loans / Deposits
Source: TEB, BRSA Consolidated Accounts
Capital Adequacy Ratio
72.30%
91.30%
94.72%
96.27%
0% 25% 50% 75% 100%
2004
2005
2006
2007/1Q
8.9%
17.1%
16.1%
13.90%
0% 5% 10% 15% 20%
2004
2005
2006
2007/1Q
14.3%
16.27%12.3%
13.76%
14.3%
13.00%13.6%
12.01%
0% 4% 8% 12% 16%
2004
2005
2006
2007/1Q
Bank- Only Consolidated
26Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Contact Details
Investor Relations+90 212 2512121http://www.teb.com.tr
Levent Çelebioğlu (ext. 1341)[email protected]
Çiğdem Başaran (ext. 1532)[email protected]
27Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE
Disclaimer
The information and opinions obtained in this document have been compiled or arrived at by TEB from sources believed to be reliable, but no representation or warranty is made as to their accuracy, completeness or correctness. All opinions and estimates contained in this document constitute TEB’s judgement as of the date of this document and are subject to change without notice. This document is published for the assistance of the recipients, but is not to be relied upon as authoritative or taken in subtitution for the exercise of judgement by any recipient. TEB does not accept any liability for any direct or consequential loss arising from any use of this document or its contents. This document is strictly confidential and may not be reproduced, distributed or published for any purpose.