Odeabank Overview YE 2016 BRSA Financials Corporate Presentation
Turkish Banking Sector • As of December 2016, 52 banks operate in Turkey; 47 conventional and 5 participation banks. Breakdown of Total Assets (YE 2016) Breakdown of Total Liabilities (YE 2016) 11% 9% 8% Deposits 7% REPOs 13% 11% Cash & Equivalents Borrowed Funds Reserve Requirements 4% Securities Issued Loans 53% Others Securities 16% SHE Others 63% 5% • A brief outlook of the Turkish banking sector as of YE 2016; • • Total Assets : TRY 2,73 trillion Loans/Deposits : 119% • • NPL : 3,24% Total Loans : TRY 1,73 trillion • • Total Deposits : TRY 1,45 trillion CAR : 15,57% • • Shareholders Equity : TRY 300 billion ROA : 1,89% • • ROE : 14,28% Securities Portfolio : TRY 352 billion 2
Bank Audi Bank Audi in a nutshell… Asset size is USD 44,4 billion as of YE 2016 Deposits reached USD 35,9 billion, Loans reached USD 17,3 billion Shareholders Equity is USD 3,78 billion 186 years of banking tradition and experience Rated by Moody’s, S&P and Fitch First GDR issue in the broad MENA region in 1995 Accessed 17 times international markets through debt and equity issues Abiding by the Beirut and London Stock exchanges’ regulations Applying high corporate governance, compliance and AML standards Implementing since 2013 a formalized ESMS management system Operating Environment GDP Growth * Asset Growth ** Loan Growth ** Deposit Growth ** Lebanon 2,0% 8,0% 5,1% 5,0% Turkey 2,9% 14,6% 14,8% 14,9% Egypt 3,8% 23,4% 22,6% 15,0% MENA 3,2% 4,1% 5,0% 2,8% *2016 estimates ** YTD growth domestic currency for Turkey and Egypt and in USD terms for MENA
Bank Audi Bank Audi in a nutshell … Turkey ranks 1st in loans as of YE 2016 Turkey is the 2nd largest hub after Lebanon Geographic Breakdown of Assets (in USD bn) Group Overview - Financial Highlights 30,00 2016 26,05 25,00 Total Assets 44,396 Customer Deposits 35,955 YE 2010 20,00 Loan to Customers 17,344 YE 2014 15,00 10,80 Shareholders ’ Equity 3,789 YE 2015 10,00 Net Profits 470 4,60 2,94 YE 2016 5,00 Branches * 201 Staff * 7.017 0,00 Lebanon Turkey Europe MENA *Figures are in USD mn except Geographic Breakdown of Loans (in USD bn) Net Profits (in USD mn) 8,00 7,40 300,0 7,00 6,20 250,0 6,00 YE 2010 181,0 200,0 5,00 YE 2010 YE 2014 4,00 YE 2014 150,0 116,0 YE 2015 3,00 104,0 2,22 YE 2015 100,0 1,49 2,00 YE 2016 69,0 YE 2016 1,00 50,0 - - Lebanon Turkey Europe MENA 4 Lebanon Turkey Europe MENA
Story of Odeabank • Shareholder Structure IFC and EBRD become shareholders at Odeabank 0% 0% 2% 0% Incorporation • March 2012 4% 3% 3% BRSA License • June 2012 6% Application • October 2012 8% License New Shareholders: • August 2016 IFC and EBRD 74% Odeabank is currently the 9th largest privately owned bank in Turkey by total assets. Bank Audi sal - Audi Group TRY mn YE 2016 YE 2015 European Bank for Reconstruction and Development (EBRD) Assets 38,278 32,082 International Finance Corporatation (IFC) Loans 26,447 21,806 IFC Financial Institutions Growth Fund L.P Deposits 29,254 25,333 H.H Sheikh Dheyab Binzayed Binsultan Al-Nahyan Audi Private Bank sal Sub Loans 528 1,310 Mohammad Hassan Zeidan Equity 3,443 1,347 Raymond Audi # of branches 50 55 Samir Hanna Freddie Baz Headcount 1,681 1,538
Our Presence in Turkey Current network; • 50 branches in 16 cities • 1681 staff There are 5 types of branches under branch network model; • Corporate and Commercial Centers; 7 • Commercial Centers ; 1 • SME/Retail ; 25 • Retail only ;17 Direct Banking Channels Internet Self SMS Social Banking Service Banking Media Contact Mobile Applications ATM Center Banking 6
Evolution of Total Assets (in TRY bn) 45 38 40 33 33 32 35 31 29 29 30 26 26 22 25 20 19 20 16 13 15 11 8 10 4 5 0 Dec 2012 March June Sept Dec 2013 March June Sept Dec 2014 March June Sept Dec 2015 March June Sept Dec 2016 2013 2013 2013 2014 2014 2014 2015 2015 2015 2016 2016 2016 Total Assets TRY Denominated FX Denominated Composition of Liabilities (YE 2016) Composition of Assets (YE 2016) 1% 0% 1% 1% 9% 13% 9% 1% 0% Cash and Balances with Central Bank Funds Borrowed Banks 12% Customer Deposits Reverse REPOs Money Market Balances Securities Subordinated Loans Loans 4% Tangible Assets Shareholders Equity Other Other 70% 79% 7
Healthy and diversified loan growth Evolution of Loan Portfolio (in TRY bn) 30 26 Sector 24 25 22 22 22 21 20 Loan/staff : TRY 8,22 mn 19 20 18 Loan/branch: TRY 147 mn 15 14 NPL: 3,24% 15 13 11 9 Odeabank 10 6 4 Loan/staff : TRY 15,7 mn 5 2 Loan/branch: TRY 528 mn 0 NPL : 2,60% 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 Loan Breakdown by Segment (YE 2016) Loan Portfolio by Currency (YE 2016) 12% Corporate 43% 20% Commercial TRY FX 50% 50% SME Retail 25% 8
Prudent asset-liability management … Sector Loans/Deposits is 90% Evolution of Customer Deposits (in TRY bn) 119% 35,0 29,2 Sector 30,0 26,1 25,0 22,5 24,2 25,5 23,4 25,0 Deposit/staff : TRY 6,8 mn 21,0 21,1 Deposit/branch : TRY 123 mn 16,8 17,8 20,0 15,0 15,0 12,4 Odeabank 10,1 8,3 10,0 6,6 Deposit/staff : TRY 17,4mn 5,0 2,5 Deposit/branch : TRY 585 mn - 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 Customer Deposits by Currency (YE 2016) Customer Deposits by Segment (YE 2016) 24% Corporate 37% TRY Commercial 4% FX SME 61% 63% Retail 11% 9
Market Share Market Share in Total Loans 1,80% 1,60% 1,45% 1,53% 1,50% 1,48% 1,46% 1,42% 1,40% 1,40% 1,40% 1,38% 1,30% 1,30% 1,20% 1,20% 1,10% 1,00% 0,90% 0,80% 0,70% 0,60% 0,50% 0,40% 0,20% 0,20% 0,00% Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Market Share in Total Loans Market Share in Total Deposits 2,50% 2,06% 2,00% 2,00% 2,00% 2,01% 1,90% 2,01% 1,90% 1,81% 1,81% 1,70% 1,70% 1,60% 1,50% 1,30% 1,10% 1,00% 1,00% 0,80% 0,50% 0,30% 0,00% Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Market Share in Total Deposits 10
Strong capitalization - In August 2016, pursuant to regulatory and corporate approvals Odeabank successfully completed a TRY 1 billion capital increase. While Bank Audi Group remains a majority shareholder with a stake of more than 75%, IFC and EBRD acquired 9,788% and 8,009% of the Bank. • • Tier I Capital : TRY 3.29bn Core Capital Adequacy Ratio : 12,22% • • Tier II Capital: TRY 781mn Tier I Ratio : 12,09% • • Total Capital : TRY 4.07bn CAR : 14,96% Capitalization (in TRY mn) Strong Capitalization 4.500 16,00% 14,96% 4.000 14,00% 782 12,22% 12,09% 3.500 12,00% 3.000 10,00% 2.500 8,00% 2.000 6,00% 3.291 1.500 4,00% 1.000 2,00% 500 0 0,00% Core Capital Adequacy Tier I Ratio CAR Tier I Capital Tier II Capital Ratio 11
Profitability BRSA Income Statement (in TRY mn) YE 2016 YE 2015 ∆% I. Net Interest Income 1.151 976 18% II. Net Fees & Commissions Income 105 99 7% III. Net Trading Income 182 -216 NA VI. Other Operating Income 14 6 120% V. Total Income (I+II+III+IV) 1.452 865 68% VI. Other Operating Expenses -657 -533 23% VII. Provisions for Loan Losses ad Other Receivables -530 -259 105% VIII. Net Operating Profit (V-VI-VII) 265 74 258% IX. Tax Provision -64 -24 172% X. NET PROFIT / LOSS (VIII-IX) 200 50 298% Key Ratios * • Healthy interest income generation; 2015 2016 • Spread 2,34% 2,84% Increasing interest income from loan book Non Interest Income / Average Assets 0,66% 1,61% • 84.2% of interest income is generated from lending activities Asset Utilization 2,99% 4,45% • Fees & commissions income generation is improving Net Operating Margin 7,26% 14,32% o.w. cost to income 61,39% 45,13% o.w. credit cost 29,53% 36,97% o.w. tax cost 1,82% 3,58% ROAA 0,22% 0,64% Leverage 12,60 11,35 ROACE 2,74% 7,23% 12 *IFRS figures
Funds Borrowed • IFI Loans • USD 50mn ‘’SME Loan ’’ from IFC in 2013 • EUR 20mn ‘’ Renewable Energy and Energy Efficiency Loan ’’ from Proparco in 2014 • USD 81mn ‘’ Green Mortgages Loan ’’ from IFC in 2015 • EUR 30mn ‘’MSME Loan ’’ from EBRD in 2015 • EUR 20mn ‘’Micro Loan ‘’ from EFSE in 2015 • USD 11mn ‘’ Renewable Energy and Energy Efficiency Loan ‘’ from GGF in 2015 • USD 25mn ‘’Trade Finance Loan ‘’ from OFID in 2016 • EUR 20mn ‘’ Renewable Energy and Energy Efficiency Loan ‘’ from Proparco in 2016 • EUR 100mn ‘’ Loan for SMEs and MidCaps ’’ from EIB in 2016 • USD 35mn ‘’ Renewable Energy and Energy Efficiency Loan ’’ from FMO in 2016 13
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