March 2013 Investor Presentation
Legal Disclaimer This presentation and the presentation materials distributed herewith include forward-looking statements. All statements, other than statements of historical facts that address activities, events, or developments that BDO Unibank, Inc. (“BDO”) expects or anticipates will or may occur in the future (including but not limited to projections, targets, estimates and business plans) are forward-looking BDO’s actual results or developments may differ materially from statements. those indicated by these forward-looking statements as a result of various factors and uncertainties, including but not limited to price fluctuations, actual demand, exchange rate fluctuations, market shares, competition, changes in legal, financial and regulatory frameworks, international economic and financial market conditions, political risks, cost estimates, and other risks and factors beyond our control. In addition, BDO makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements. 2
Presentation Outline I. OVERVIEW II. BUSINESS FRANCHISE III. FINANCIAL HIGHLIGHTS IV. OWNERSHIP, BOARD, AND MANAGEMENT
Background The Philippines’ largest bank as at December 31, 2012 A full-service universal bank with one of the widest networks One of the country’s strongest Board of Directors in terms of • Banking experience • Corporate governance Part of the SM Group with associated synergies and benefits 4
Milestones USD1BN capital raising First and only Philippine bank with P1.0 TRN in assets Acquired GE Acquired UOB Philippines’ Acquired Money Bank branch banking business Rural Bank of P1.0 TN P617 BN Acquired 1st e-Bank San Juan business incl. 60 branches P862 BN Merged with Dao Heng P149 BN Acquired by Bank Philippines Merged with SM Group P234 BN Equitable PCI Bank. KB license P36 BN Est. as Acme P121 BN Acquired Acquired Savings Bank Amex P77 BN Banco Savings Bank Santander Philippines U/KB license Assets Philippines P13 BN 1968 1976 1994 1996 2001 2002 2003 2005 2007 2009 2010 2012 Commercial Bank Expansion Source: BDO. BDO Total Assets as at each relevant period or year-end.
Domestic and International Network Philippines – North Middle SE Asia, HK Europe - 3 America - 4 East - 1 & Taiwan - 8 768 Luzon – 220 Metro Manila – 407 Visayas – 85 Mindanao – 56 • 768 Domestic Branches + 26 additional branch licenses* • 16 International Offices worldwide • 1,905 ATMs * 26 additional branch licenses from BDO’s acquisition of the banking business of the Rural Bank of San Juan 6 Source: BDO as of 21 February 2013
Presentation Outline I. OVERVIEW II. BUSINESS FRANCHISE III. FINANCIAL HIGHLIGHTS IV. OWNERSHIP, BOARD, AND MANAGEMENT
Full Service Operations Transaction Consumer Branch Banking Insurance Trust Banking Banking Lending Deposit and Cash management Brokerage Investment Auto related products services management Bancassurance Mortgage Over-the-counter Electronic banking Unit investment Credit cards transactions trust funds ATMs Personal loans Cross-selling Living trusts Prepaid cards distribution platform Retirement funds Merchant acquiring Special trusts / Remittances custodianship Corporate and Investment Treasury Leasing and Institutional Private Banking Banking Services Finance Banking Corporate and Underwriting and Direct lease, sale Wealth advisory Fixed income middle market distribution of and leaseback dealership Customized portfolio lending Fixed income and arrangements management Foreign exchange equity securities Trade finance Installment paper transactions Financial advisory purchases Specialized lending Portfolio Project finance Receivable management Financial Institutions discounting Loan syndication Liquidity Cross-border and factoring management financing 8
Business Franchise #1 #1 #1 #1 #1 Loans Deposits Remittances Trust & Asset Mgt. Private Banking Leading Trade Major Player in Market-leading Services Provider 1 Cash Management 2 Positions in Almost All Business Lines #4 #1 #2 #1 Insurance Brokerage 5 Credit Cards 3 Investment Banking 4 Leasing & Finance (#1 Local) Notes: 1 According to The Asian Banker, Global Finance, The Asset, & Trade Finance Magazine 2 According to The Asset 3 In terms of cardholder base & merchant acquiring gross billings 4 In terms of corporate issuances 5 Among insurance brokers in terms of premiums produced 9
4Q 2012 Industry Rankings by Gross Customer Loans * by Total Assets No.1 No.1 (in PHP billions) (in PHP billions) 1,250 767 BDO Market Share – 16% BDO Market Share – 22% 1,038 976 531 518 583 254 369 362 327 322 193 185 259 238 131 117 111 94 BPI MBT LBP China RCBC PNB SECB DBP Citi MBT BPI LBP RCBC DBP PNB China SECB Citi by Customer Deposits by Assets Under Management No.1 No.1 (in PHP billions) (in PHP billions) 930 817 743 804 739 BDO Market Share – 17% BDO Market Share – 26% 544 420 272 249 241 196 190 177 146 134 109 108 103 90 58 BPI MBT LBP China RCBC PNB UBP DBP Citi BPI MBT SChart China RCBC UCPB HSBC LBP SECB Source: Company data, consolidated statements of condition (SOC). Ranking as at December 31, 2012 Note: Financials prepared by banks under BSP’s SOC requirements differ slightly from reported financials under SEC guidel ines due to certain differences in accounting rules requested by the two authorities 10 * Gross customer loans outstanding as at December 31, 2012 are BDO estimates
Presentation Outline I. OVERVIEW II. BUSINESS FRANCHISE III. FINANCIAL HIGHLIGHTS IV. OWNERSHIP, BOARD, AND MANAGEMENT
2012 P & L 2012 2011 YoY % (P bn) Interest Income 54.0 50.5 7% Interest Expense 17.8 16.7 7% Net Interest Income 36.2 33.8 7% Non-Interest Income 24.6 20.9 18% Fee Income 13.4 12.3 10% Trading & FX 8.4 5.6 50% Others 2.8 3.0 -9% Gross Operating Income 60.8 54.7 11% Operating Expenses 40.1 36.3 10% Pre-Provision Op. Profit 20.8 18.4 13% Provisions 4.9 6.1 -20% Taxes 1.5 1.6 -9% Net Income 14.3 10.5 36% 12
2012 Balance Sheet (P bn) 2012 2011 YoY % Resources Reserve Assets 201.2 203.5 -1% Investment Securities 237.3 188.4 26% Gross Customer Loans 769.0 670.1 15% Investment Properties-net 9.1 10.1 -10% Other Assets 27.8 25.1 11% Total Resources 1,244.4 1,097.3 13% Liabilities and Capital Liabilities Deposits 931.6 858.6 9% Bills Payable/Sub-Notes 100.4 97.7 3% Other Liabilities 55.2 44.1 25% Total Liabilities 1,087.2 1,000.4 9% Total Capital 157.3 97.0 62% Total Liabilities & Capital 1,244.4 1,097.3 13% 13
Key Growth Indicators Gross Customer Loans Investment Securities (P bn) (P bn) 26% 1,000 45% 32% 25% 240 15% 24% 900 30% 20% 10% 15% 237 15% 15% 15% 220 800 15% -4% 5% -5% 700 -8% 200 0% 769 -5% 600 197 -15% 670 180 -15% 188 500 -30% 541 -25% 160 400 172 473 165 -45% -35% 300 393 156 140 -60% -45% 200 297 120 -75% 100 -55% 0 -90% 100 -65% 2007 2008 2009 2010 2011 2012 2007 2008 2009 2010 2011 2012 Investment Securities % Growth Gross Loans % Growth Deposits Fee-based Income (P bn) 22% (P bn) 18% 17 43% 20% 12% 40% 10% 1,150 15 9% 10% 13% 14 9% 10% 9% 20% 1,000 12 0% -5% 13 0% -11% 850 932 11 12 -10% -20% 859 9 700 10 783 -20% -40% 10 8 10 695 550 6 9 -30% -60% 637 5 400 -40% -80% 445 3 250 -50% -100% 2 100 -120% 0 -60% 2007 2008 2009 2010 2011 2012 2007 2008 2009 2010 2011 2012 Total Deposits % Growth Fee-Based Income % Growth 14
Net Income, 2007- 2012 (P bn) 14 14.3 12 11 10.5 9 8 8.8 6 Global 6.5 Financial 6.0 5 Crisis 3 2 2.2 0 2007 2008 2009 2010 2011 2012 Integration Reengineering/ Re-scaling of 15 Operations
Capital Adequacy Ratio 1 19.1% 0 20% 18% 1 15.6% 0 3.9% 17% 14.5% 0 14.0% 0 1 13.5%0 15% Total CAR 1 12.4% 14% 5.6% Tier 2 4.6% 4.0% 12% 4.5% Tier 1 11% 4.1% 9% 15.2% 8% 6% 10.0% 10.0% 9.9% 5% 9.0% 8.3% 3% 2% 0% 2007 2008 2009 2010 2011 2012 Note: CAR per Bangko Sentral ng Pilipinas series 16
Presentation Outline I. OVERVIEW II. BUSINESS FRANCHISE III. FINANCIAL HIGHLIGHTS IV. OWNERSHIP, BOARD, AND MANAGEMENT
Shareholder Structure Top Shareholders as of 31 Dec 2012 SM Investments Corp. 40.9% PCD Nominee Corp. (Non-Filipino) 27.9% PCD Nominee Corp. (Filipino) 13.4% Multi-Realty Development Corporation 8.8% Sybase Equity Investments Corporation 5.1% Sub-Total, Top Shareholders 96.1% Source: Top 100 Shareholders as of 31 Dec 2012 18
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