Single line title · Aydın İzmir Edirne Kırklareli Tekirdağ İstanbul Çanakkale Kocaeli Yalova...
Transcript of Single line title · Aydın İzmir Edirne Kırklareli Tekirdağ İstanbul Çanakkale Kocaeli Yalova...
TEB
H1 2019
Summary Balance Sheet
2
Source: TEB Consolidated Financials
TÜRK EKONOMİ BANKASI A.Ş.
Consolidated (in Mn TL)
31.12.2018 30.06.2019 YtD Chg
Cash & Cash Equivalents 19,878 20,696 4%
Marketable Securities 6,702 8,581 28%
Loans (net) (*) 65,679 67,118 2%
Other Assets 6,401 6,850 7%
Total Assets 98,659 103,244 5%
Deposit 64,160 65,804 3%
Funds Borrowed 13,198 12,122 -8%
Securities Issued 527 2,866 444%
Repo 105 1,545 1372%
Subordinated Debt 2,843 3,102 9%
Other Liabilities 7,954 7,875 -1%
Shareholders Equity 9,873 9,930 1%
Liab.&Shr.Equity 98,659 103,244 5%
(*) including Factoring Receviables
Summary Income Statement
3
Source: TEB Consolidated Financials
TÜRK EKONOMİ BANKASI A.Ş.
Consolidated (in Mn TL, cumulative)
30.06.2018 30.06.2019
Net Interest Income 2,277 2,425
Gains/Losses From Derivatives and FX position -240 -206
Securities Trading Gain/ Loss -83 33
Net Fee&Commissions 651 764
Other Income 50 56
Net Banking Income 2,655 3,073
Cost of Risk -388 -708
Net Operating Income 2,266 2,365
Other Operating Expense -653 -784
Personnel Expenses -663 -752
Other Provisions -1 0
Dividend Income 0 1
Tax Provisions -210 -185
Net Profit 740 647
Asset and Liability Composition
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Source: TEB Consolidated Financials
102,827
114,315
98,659103,511 103,244
11%11%
-14%
5%0%
30.06.18 30.09.18 31.12.18 31.03.19 30.06.19
Balance Sheet Growth
Total Assets Variance
17.9% 22.5% 20.1% 19.3% 20.0%
7.0%6.3% 6.8% 8.7% 8.3%
69.9% 61.7% 66.6% 65.6% 65.0%
5.2% 9.4% 6.5% 6.4% 6.6%
30.06.18 30.09.18 31.12.18 31.03.19 30.06.19
Asset Compositions
Liquid Assets Debt Securities Loans Other Assets
63.9% 62.1% 65.0% 65.8% 63.7%
20.6%19.2% 16.9% 17.0% 19.0%
6.0% 9.8% 8.1% 7.3% 7.6%
9.4% 8.9% 10.0% 9.8% 9.6%
30.06.18 30.09.18 31.12.18 31.03.19 30.06.19
Liability Compositions
Deposit Funds Borrowed Other Liabilities Shareholders Equity
A Closer Look into Loans
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Source: TEB Bank only Financials
LOB Cross Sell
Corporate 6.1X
SME 4.1X
Retail 3.9X
Private 6.6X
78% 76% 79% 80% 79%
22% 24% 21% 20% 21%
69,749 68,77663,999
66,599 65,418
30.06.18 30.09.18 31.12.18 31.03.19 30.06.19
Loan Compositions
TL Loans FX Loans Total Loans
40.4% 38.7% 37.3% 34.6% 32.6%
42.1% 42.4% 42.9% 45.4% 46.5%
14.6% 16.2% 17.2% 17.3% 18.5%
2.9% 2.7% 2.6% 2.6% 2.4%
30.06.18 30.09.18 31.12.18 31.03.19 30.06.19
Breakdown of Retail Loans
Housing Consumer Credit Cards Vehicle
Corporate; 32.43%
SME; 33.31%
Retail; 33.87%
Private; 0.39%
Performing Loans, 2018 Q4
Corporate; 32.90%
SME; 31.88%
Retail; 34.89%
Private; 0.33%
Performing Loans, 2019 Q2
NPL and Coverage Ratios
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Source: TEB Bank only Financials
NPL Ratio
2.8%
2.1%2.2% 2.4% 2.3%
3.1%
3.0%
4.2% 4.6%
5.2%
2.7%
2.8% 2.7% 2.8%3.1% 3.2%
2.9%
3.8% 3.9%4.3%
11-Q4 12-Q4 13-Q4 14-Q4 15-Q4 16-Q4 17-Q4 18-Q4 19-Q1 19-Q2
TEB Sector
Coverage Ratio
71.3%
60.0% 60.8%64.2%
67.3% 68.5%63.8%
59.8% 59.0% 58.0%
79.4%75.2% 76.4%
73.8% 74.6%77.4%
79.4%
68.3% 68.8% 67.6%
11-Q4 12-Q4 13-Q4 14-Q4 15-Q4 16-Q4 17-Q4 18-Q4 19-Q1 19-Q2
TEB Sector
Construction; 11.73%
Textile and Leather Products; 7.93% Food, Beverage and
Tobacco; 7.40%
Other; 11.89%
Metal Products; 7.90%
Motor Vehicles; 5.70%
Finance and Insurance; 2.96%
Transportation and Storage; 2.67%
Agriculture, Forestry and Fishing; 3.82%
Chemical Products; 5.61%
Wholesale and Retail Trade; 3.95%
Machinery and Equipment; 3.19%
Electrical Apparatus; 3.56%
Precious Metal; 2.58%
Administrative and Technical Activities; 2.06%
Tourism; 2.82%
Wood Products; 1.95%
Potential Taxpayers; 0.99%
Fuel Products; 1.84%
Other Minerals and Mining; 2.49%
Computer, Electronic and Optical Products; 0.98%
Information and Communication; 3.54%
Rubber and Plastic; 1.55%
Food and Beverage Services (Restaurants); 0.88%
Sectoral Breakdown of Loan Portfolio(*)
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(*) incl. non-cash loans, excl. retail loans
Composition of Debt Securities
8
Source: TEB Bank only Financials
PS: The FX portfolio is vey small and it is all f ixed rate.
Total Securities Compositions Interest Rate Compositions
41%53%
59%47%
2018 Q4 2019 Q2
Total Securities
Floating
Fixed
35% 31%
47%45%
17% 23%
2018 Q4 2019 Q2
TL Portfolio
CPI Linkers
Floating
Fixed
90.8%
9.2%
2018 Q4
TL
FC 67.7%
32.3%
2019 Q2
TL
FC
49.1%
7.9%
41.7%
2018 Q4
FVOCIFVPLAC
37.9%
12.0%
48.8%
2019 Q2
FVOCIFVPLAC
A Closer Look into Deposits
9
Source: TEB Bank only Financials
60%55%
58%
51% 51%
40% 45% 42% 49% 49%
65,79271,068
64,21768,276 65,859
30.06.18 30.09.18 31.12.18 31.03.19 30.06.19
TL/FX Deposit Compositions
TL Deposits FX Deposits Total Deposits
81% 84% 82% 79% 79%
19% 16% 18% 21% 21%
12,51111,624 11,645
14,069 14,128
30.06.18 30.09.18 31.12.18 31.03.19 30.06.19
Time/Demand Deposit Compositions
Time Deposits Demand Deposits Demand Deposits
111%102%
110% 114% 119%
112% 113%
100% 97% 99%94% 99%
106% 112% 114%
114% 119% 114%110% 109%
11-Q4 12-Q4 13-Q4 14-Q4 15-Q4 16-Q4 17-Q4 18-Q4 19-Q1 19-Q2
Loan / Deposit Ratio
TEB Sector
Corporate; 19.21%
SME; 9.78%
Retail; 49.60%
Private; 21.40%
Total Deposits, 2018 Q4
Corporate; 16.06%
SME; 9.85%
Retail; 55.09%
Private; 19.00%
Total Deposits, 2019 Q2
Evolution of Cost of Risk
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Source: TEB Bank only Financials
Cost of Risk
1.0%
2.4%2.6%
2.0%2.3%
1.2%
1.6%2.0%
2.0%
2.1%
18-Q2 18-Q3 18-Q4 19-Q1 19-Q2
Quarterly Cumulative
Cost of Risk (Stage 3)
0.9%
1.2%
2.2%
2.0%
2.0%
0.9%
1.1%
1.4%
2.0%
2.0%
18-Q2 18-Q3 18-Q4 19-Q1 19-Q2
Quarterly Cumulative
Cost of Risk (Stage 1 & 2)
0.0%
1.2%
0.4%-0.03%
0.31%0.2%
0.6% 0.6%
-0.03%0.14%
18-Q2 18-Q3 18-Q4 19-Q1 19-Q2
Quarterly Cumulative
Other Significant Ratios
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Source: TEB Bank only Financials
Comfortable CAR supporting growth
14.8%
16.4%16.7%
15.5%
16.4%15.1%
16.6%16.9%
15.6%
16.6%
18-Q2 18-Q3 18-Q4 19-Q1 19-Q2
Consolidated Bank-Only
Net Interest Margin
4.8%4.4%
3.7%
5.0%
4.2%4.5%4.4%
4.6%5.0%
4.7%
18-Q2 18-Q3 18-Q4 19-Q1 19-Q2
Quarterly Cumulative
Cost / Income Ratio
48.1%49.4%
57.0%
48.2%49.8%
49.6% 49.5%
51.3%
48.2%
49.8%
18-Q2 18-Q3 18-Q4 19-Q1 19-Q2
Quarterly Cumulative
TEB’s Network
121212
TEB is present in 71 cities
As of 30/06/2019
Number of Clients: 6 million
Number of Branches: 496
Total Staff: 9,115
ATM: 1,737
POS: 155,667
12
4
Van
Konya
Kırşehir
Sinop
Çankırı
BilecikTokat
Bitlis
HakkariŞırnak
Siirt
Karaman
Balıkesir
Afyon
Uşak
Aydın
İzmir
Edirne
Kırklareli
İstanbulTekirdağ
Çanakkale
Kocaeli
Yalova
Kastamonu
Samsun
Ankara
Kırıkkale
Aksaray
Isparta
Burdur
Antalya
Mersin
Niğde
Yozgat
AmasyaOrdu
Adana
Hatay
G.Antep
K.Maraş
Malatya
Adıyaman
G.Hane
Muğla
Düzce
Osmaniye
Kilis
DenizliAydın
Uşak
Manisa
BingölTunceli
Van
Muş
Ş.Urfa
Elazığ
Diyarbakır
Mardin
Batman
Erzincan
GiresunTrabzon
Rize
Eskişehir
Bursa
Kütahya
Bolu
Sivas
Çorum
Kayseri
KarabükArdahan
Ağrı
Iğdır
Artvin
Kars
Erzurum
148
13
1
3
1
2
34
1
7
1
1
2
1
7
4
14
2
1
15
1
1
40
3
11
1
1
2
13
3
112
1
31
7
2
5
2
2
2
4
1
1
1
1
Bartın
Sakarya
Zonguldak
Bayburt
Nevşehir
1
1
1
1
13
2
1
1
3
26
2
1
3
7
2
16
3
6
10
3 22
8
13
APPENDIX
14
Summary Balance Sheet
Source: TEB Bank only Financials
TÜRK EKONOMİ BANKASI A.Ş.
Bank only (in Mn TL)
31.12.2018 30.06.2019 YtD Chg
Cash & Cash Equivalents 19,852 20,664 4%
Marketable Securities 6,700 8,462 26%
Loans (net) (*) 63,999 65,418 2%
Other Assets 6,446 7,006 9%
Total Assets 96,997 101,549 5%
Deposit 64,217 65,859 3%
Funds Borrowed 11,766 10,630 -10%
Securities Issued 527 2,866 444%
Repo 63 1,505 2307%
Subordinated Debt 2,843 3,102 9%
Other Liabilities 7,843 7,808 0%
Shareholders Equity 9,739 9,780 0%
Liab.&Shr.Equity 96,997 101,549 5%
(*) including Factoring Receviables
15
Summary Income Statement
Source: TEB Bank only Financials
TÜRK EKONOMİ BANKASI A.Ş.
Bank only (in Mn TL, cumulative)
30.06.2018 30.06.2019
Net Interest Income 2,220 2,359
Gains/Losses From Derivatives and FX position -241 -206
Securities Trading Gain/ Loss -83 33
Net Fee&Commissions 615 728
Other Income 50 56
Net Banking Income 2,561 2,971
Cost of Risk -383 -706
Net Operating Income 2,178 2,265
Other Operating Expense -638 -765
Personnel Expenses -632 -716
Other Provisions -1 0
Dividend Income 17 18
Tax Provisions -201 -174
Net Profit 723 630
Ratings of TEB
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FITCH (July 19, 2019) Rating Outlook
Long-Term FC Issuer Default Rating B+ Negative
Short-Term FC Issuer Default Rating B -
Long-Term LC Issuer Default Rating BB- Negative
Short-Term LC Issuer Default Rating B -
Viability Rating b+ -
National Long-Term Rating AA (tur) Stable
Bank Support Rating 4 -
MOODY'S (June 19, 2019) Rating Outlook
Long Term FC Bank Deposits B3 Negative
Short Term FC Bank Deposits NP -
Long Term LC Bank Deposits B1 Negative
Short Term LC Bank Deposits NP -
Baseline Credit Assessment b3 -
Adjusted Baseline Credit Assesment b1 -
17
A Major Player of the Turkish Financial Services Market
17
TEB
Full range of banking
services
TEB Factoring
5.64 % market share as of 4Q
2017 TEB Investment
12th largest brokerage &
investment house of Turkey with
2.5% market share at Borsa
İstanbul Equity Market as of 2Q
2019 and 5th largest brokerage &
investment house of Turkey with
5.9% market share at Borsa
İstanbul Derivatives Market as of
as of 2Q 2019
TEB Asset
Management
7th largest asset management
company with 3.7% market
share as of 2Q 2019
TEB Arval
Operative since October 2007,
8.2% market share as of 2Q
2019
BNPP Leasing
10.7% market share as of 1Q
2019
TEB Cetelem
Consumer finance company in
Turkey with 2.5% market share
as of 2Q 2019
BNPP Cardif
Insurance A major global player for
personal insurance
Turkish operations fully owned
by BNP ParibasCardif (S&P A-
rated),100% subsidiary of BNP
Paribas
%3.3 market share in Turkey in
protection insurance & pension
as of 2Q 2019
TEB Kosovo Operative since January 2008,
with 29 branches, as of Q2
2019
Disclaimer
18
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.