Analysts Presentation FY12 Results 25 February 2013
Agenda 1. Key Highlights 2. CIMB 2.0 3. CIMB Group FY12 Financials 4. Malaysia & Singapore Consumer Banking 5. CIMB Niaga 6. CIMB Thai 7. Wholesale Banking 8. Investments 9. Other Highlights 10.2013 Priorities & Other Highlights 11.Final Remarks 2
CIMB Group : FY12 Results Key Highlights
Another Year of Record Profits Average ROE from 2008 – 2012 15.1% Net profit CAGR from 2008 – 2012 21.5% 16.4% 16.2% 16.0% 14.9% 11.8% 13.5 12.1 11.9 10.5 7.6 5.7 5.2 4.6 4.3 4.0 3.8 3.5 2.8 2.7 1.9 2008 2009 2010 2011 2012 Operating income* PBT* Net profit* ROE * RM ’mil 4
2012 Highlights CIMB 2.0 to strengthen competitiveness CBTM 2.0; Uplift in earnings already IB 2.0 WIP; RBS and SICCO integration MS Consumer 2.0 WIP; Positive signs in 4Q New senior leaders Strong performance at CIMB Niaga deflated by Rupiah depreciation Good NoII growth Best year in capital markets – Funds raised and league tables Moderate asset growth with marginal NIM compression Asset quality continues to improve Y-o-Y drop in Investments profits – CIMB Aviva (2011) and RBS (2012) Introducing Dividend Reinvestment Scheme - Medium term capital management 5
Key Financial Highlights (1) Operating Income Net Profit ROE Cost to Income RM’ mil RM’ mil % % -40bps +11.3% +7.8% +170bps 13,495 56.4 54.7 4,345 16.4 16.0 12,122 4,031 2011 2012 2011 2012 2011 2012 2011 2012 -4.9% Q-o-Q -5.3% Q-o-Q -130bps Q-o-Q +170bps Q-o-Q 6
Key Financial Highlights (2) Total Credit* Deposits ++ NIM Gross Impaired Loans Ratio RM’ bil RM’ bil % % +11.8% +10.0% -5bps -130bps 241.6 244.0 5.1 3.8 3.12 3.07 216.1 221.9 Dec-11 Dec-12 Dec-11 Dec-12 2011 2012 Dec-11 Dec-12 +4.4% Q-o-Q +5.4% Q-o-Q -5bps Q-o-Q -40bps Q-o-Q Notes: * Credit includes gross loans (excluding bad bank), AFS and HTM (excluding allowance for impairment loss) Excluding FX fluctuations, total credit grew +14.4% Y-o-Y and +4.6 Q-o-Q 7 ++ Excluding FX fluctuations, total group deposits grew +12.0% Y-o-Y and +5.4% Q-o-Q
PBT By Division FY12 FY11 RM ‘mil RM ‘mil Investment Investment Banking Banking 5% 5% Investments Investments Consumer 9% 19% Consumer Banking Banking 36% Corporate 41% Banking 21% Corporate Banking Treasury & Treasury & 22% Markets Markets 24% 18% FY12 PBT Y-o-Y Growth by Key Division Investment Corporate Banking, Consumer Banking Banking Treasury & Markets Investments +23.9% +18.3% +23.7% -51.2% 8
PBT By Country FY12 FY11 Others Others Thailand Thailand Singapore Singapore 4% 2% 4% 2% 3% 2% Indonesia Indonesia 32% 28% Malaysia Malaysia 59% 64% FY12 PBT Y-o-Y Growth by Key Countries +1.3%* +23.2% +99.8% +77.8% * Excluding the gain on CIMB Aviva deconsolidation in FY11, Malaysia’s PBT grew 9.2% Y -o-Y 9
12.7% NoII Growth (20% excluding CIMB Aviva) Breakdown of NoII IB NoII RM ‘mil RM ‘mil +12.7% Y-o-Y +15.4% Y-o-Y 4,704 1,070 4,175 927 2011 2012 2011 2012 Wealth Management Income Banca Income RM ‘mil RM ‘mil +38.5% Y-o-Y +39.3% Y-o-Y 636.1 260.7 459.3 187.2 2011 2012 2011 2012 10
New CBTM Gaining Traction FY12 PBT Malaysia RM ‘mil Best Cash Management – +23.7% Y-o-Y AsiaMoney 2,559 Best Structured Product 311 2,069 House for Malaysia - Asset 195 69 155 Triple A Investment 134 Awards 25 860 742 Deal of the Year 2012 – cash management solution in Petronas ’ Integrated 1,124 1,012 Financial Shared Services Centre – SEA Alpha Top Bank Arranger for 2011 2012 Quality – The Asset * Malaysia Indonesia Thailand Singapore Others Best Domestic Provider of FX Services – Asia Money Best Foreign Exchange Asia Indonesia Thailand Bank – Finance Asia Best Bond House = The Best Islamic Trade Bank in Best Domestic Provider of Best Cash Management – Asset, Finance Asia, Asia – Trade Finance FX Services – Asia Money AsiaMoney AsiaMoney, SEA Alpha Fixed Income Poll – Asia Best Trade Bank – Trade Magazine House of the Year – Asia Regional House of the Money Finance Risk House of the Year – Asia Best Domestic Provider of Year – Asia Risk Best Bond House in SEA – Risk FX Services – Asia Money SEA Alpha 11 Note: * Includes Labuan
Best Year in ASEAN Capital Markets Record Year in ECM and DCM 2011 2012 USD ‘mil 4,266 ASEAN Market Market +95.8% Y-o-Y Rank Rank 144 Share Share 355 90 776 IPO 7.7% 4 16.3% 1 ECM 2,179 4 34 ECM 8.7% 4 11.8% 1 223 426 2,900 DCM (local 1,292 16.9% 1 12.3% 1 currency) 2011 2012 M & A 10.8% 2 15.4% 7 Syndication ^ 5.0% 5 4.2% 9 12,839 +82.4% Y-o-Y 1,340 794 388 7,040 DCM 426 318 344 10,318 5,952 2011 2012 Malaysia Singapore Indonesia Thailand Hong Kong Sources: Dealogic, Bloomberg, Local Stock Exchanges and internal data 12 Note:^ Mandated lead arranger
CIMB Niaga : High (IDR) Growth Net Profit Gross Loans IDR ‘bil IDR ‘tril +17.9% CAGR +58.1% CAGR +15.7% Y-o-Y 145 +33.4% Y-o-Y 126 4,233 105 3,174 83 2,548 75 1,568 678 2008 2009 2010 2011 2012 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Total Deposits Asset Quality IDR ‘tril Adoption of FRS139 +18.7% CAGR 3.8% +14.6 % Y-o-Y 3.6% 151 132 3.1% 86 84 76 2.6% 2.7% 2.6% 2.5% 2.3% Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Gross Impairment Ratio Gross NPL 13
Achievements vs Targets for 2012 FY12 FY12 Target 16.0% 16.4% ROE TSR -9.8% < FBM KLCI > FBM KLCI Dividend 40% 40% - 60% Group loans growth * 10% 16% Group deposits growth ** 10% 16% Loan loss charge 0.16% 0.31% Core Capital Ratio (at CIMB Bank) (Basel II) ^ 12.8% >10% RWCR (at CIMB Bank) (Basel II) ^ 16.0% >12% *Excluding FX fluctuations, total group loans grew +12.1% Y-o-Y ** Excluding FX fluctuations, total group deposits grew +12.0% Y-o-Y Note: ^ The capital position assumes to be post-reinvestment of excess cash into CIMB Bank, pursuant to DRS implementation by CIMBGH 14
Dividend : 40% with DRS 54.9% 44.2% 40.6% 40.0% 35.8% 24.5% 23.3% Payout Ratio 36.75 26.08 Net Dividend 23.38 22.00 Declared (Sen) 19.83 18.50 10.95 2006 2007 2008 2009 2010 2011 2012 15
CIMB Group : FY12 Results CIMB 2.0
MY Consumer Bank 2.0 Group Cards & Personal CSD Retail Financial Services Commercial Banking Financing Finance Credit Marketing Strategy Finance Credit Marketing Strategy Finance Credit Marketing Strategy Finance Credit Marketing Strategy Group Deputy CEO/Head of MYSG Consumer Bank Renzo Christopher Viegas (New) Group Cards & Consumer Consumer Retail Financial Commercial Consumer Credit CSD Personal Business Planning Business Services Banking Operations Financing & Analysis Development Aaron Loo Suraya Hassan Lee Kai Kwong Vijay Manoharan Dato ’ Sulaiman Peter William Ahmad Shazli Mohd Tahir England Kamarulzaman (New) (New) (New) (New) New organisation structure only since September 2012 Focus areas: Cost reduction & efficiency improvements Greater product innovation Cross-sell enhancements 17
CBTM 2.0 Advisory Corporate FX, Interest M&A Banking Regional Rate, Equity, ECM Malaysia Bonds Banking Commodity, IPO Indonesia Derivatives Equity Thailand Broking Balance sheet risk taking is largely centralised under CBTM Pricing, Structuring, Hedging Cross default, Collateral, Asset Quality Client proposition: More comprehensive, understanding and more effective cross-selling New organisation structure since February 2012 Focus areas: Synergies between corporate banking and treasury Regional integration Cross-selling and product bundling Transaction banking 18
Investment Banking 2.0 : RBS Acquisition #1 APAC Based IB #1 ASEAN Top 10 APAC IB Franchise IB Franchise Acquisition taking longer than expected Upfront RBS cost classified under “Investment” for 2012 Integrated management structure in February 2013 Full completion only in April 2013 19
CIMB 2.0 - New Senior Leaders Renzo David Richard Thomas Shahnaz Jammal Matthew Kirkby Lo Nyen Khing Christopher Viegas Chief Risk Officer, CIMB Vice-CEO and Head CBTM, Group Deputy CEO / Head of Co-Head of Corporate Client Deputy CFO, CIMB Group Group Solutions/Advisory CIMB Niaga MS Consumer Banking Aaron Loo Boon Seng Ramesh Sundara Suraya Hassan Vijay Manoharan Lee Kai Kwong Head, MS Consumer Head, Group Cards and Head, MS Consumer Credit Head, MS Consumer Head, Group Technology Business Planning and Personal Financing Operations Business Development Analysis 20
CIMB Group : FY12 Results CIMB Group FY12 Financials
Recommend
More recommend
