Türk Ekonomi Bankası A.Ş. Investor Presentation August 2007
BNP PARIBAS JOINT VENTURE TEB Financial Group of Companies TEB Investment TEB Leasing TEB Factoring 10 th largest brokerage 3.16% market share, 9 th largest 4 th largest factoring company and investment house leasing company in Turkey as of in Turkey with a 7.7% market of Turkey with 3,45% 2Q07 share in the sector as of market share as of 2Q07 2Q07 (specialized in M&A’s and IPO’s ) TEB Asset Management TEB NV Total AUM is EUR 632 mio. “Turkish specialist” in the EU and market share is % 3,22 market, total asset size is EUR 765 as of 2Q07. mio. as of 2Q07 Growth through cross-selling 2 Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE Expanding Branch Network June 2007 Coverage GDP coverage 90% 42 cities with 233 branches 3 Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE Non Performing Loans Non-Performing Loans as a % of Total Loans 27,2% 30% 16,5% 20% 11,5% 10,7% 11,5% 7,2% 6,0% 10% 4,9% 3,5% 3,7% 2,4% 2,2% 3,8% 2,5% 2,1% 1,3% 0,9% 1,1% 0,5% 0,6% 0,9% 0,0% 0,2% 1,3% 0% 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007/2Q TEB Sector Average Source: CMB of Turkey announcements and BRSA Bank-Only Accounts Prudent approach, low NPL ratio 4 Türk Ekonomi Bankası A.Ş.
BNP PARIBAS JOINT VENTURE Consolidated BRSA B/S Highlights Reviewed Reviewed Reviewed Reviewed 30.06.2007 31.12.2006 30.06.2007 31.12.2006 Share YTL Million Share Change Change Assets Liabilities Cash & banks 2,213 2,031 Deposits 7,553 6,726 19.1% 9.0% 65.0% 12.3% M.sec + repos 1,820 1,657 Repos 809 795 15.7% 9.8% 7.0% 1.8% Loans + Trade rec. 7,189 6,371 Funds Borrowed 1,582 1,396 61.9% 12.8% 13.6% 13.3% Other Assets 247 133 Other Liab. 694 465 2.1% 85.7% 6.0% 49.2% Fixed Assets 146 106 Total Liabilities 10,638 9,382 1.3% 37.7% 91.6% 13.4% Total Assets 11,615 10,298 100.0% 12.8% Subordinated Loans 283 300 2.4% -5.7% Sh. Equity Capital & Res. 620 493 25.8% 5.3% Income 74 123 0.6% n.m. Total Sh. Equity 694 616 6.0% 12.6% Total Liab + Equity 11,615 10,298 100.0% 12.8% 5 Türk Ekonomi Bankası A.Ş. Source: TEB, BRSA Consolidated Accounts
BNP PARIBAS JOINT VENTURE Consolidated Balance Sheet Composition Assets Liabilities 4,7% 6,4% 2,3% 8,4% 2,3% 3,4% 7,2% 6,0% 6,0% 15,2% 14,9% 13,6% 7,5% 7,0% 55,6% 10,8% 61,9% 61,9% 65,3% 65,0% 17,5% 62,0% 16,1% 15,7% 24,5% 19,7% 19,1% 2005 2006 2007/2Q 2005 2006 2007/2Q Deposits Repos Funds Borrowed Equity Other Liquid Assets Marketable Sec. Loans Other 6 Türk Ekonomi Bankası A.Ş. Source: TEB, BRSA Consolidated Accounts
BNP PARIBAS JOINT VENTURE Consolidated BRSA Income Statement Re-Classified Reviewed Reviewed 30.06.2007 30.06.2006 YTL Million Change Interest Income 737.4 396.2 86.1% Interest Expense -473.8 -245.1 93.3% FX Gains / (Losses), net -17.7 -7.5 136.0% Loan Loss and General Provisions -21.0 -12.9 62.8% Adjusted Net Interest Income 224.9 130.7 72.1% 13.8 19.8 Net Trading Income -30.3% AUM 13.0 17.9 -27.4% Securities Trading 0.8 1.9 -57.9% 92.6 60.2 Net Fees, Comm. & Other Operating Income 53.8% Net Fees, Commissions Income 76.9 50.1 53.5% Other Operating Income 15.7 10.1 55.4% Non-interest Income 106.4 80.0 33.0% Non-interest Expense -236.5 -145.7 62.3% Operating Profit 94.8 65.0 45.8% Provision for Taxes on Income -20.9 -17.8 17.4% Net Income / (Loss) 73.9 47.2 56.6% 7 Türk Ekonomi Bankası A.Ş. Source: TEB, BRSA Consolidated Accounts
BNP PARIBAS JOINT VENTURE Profitability Ratios Cost / Income Net Interest Margin 5,39% 2Q07 2Q07 71,0% 5,34% 1Q07 1Q07 63,5% 3,87% 2006 63,9% 2006 4,88% 61,0% 2005 2005 0% 2% 4% 6% 0% 20% 40% 60% 80% ROAE (net) ROAA (net) 22,50% 1,35% 2007/2Q 2007/2Q 25,73% 1,53% 2007/1Q 2007/1Q 1,43% 22,03% 2006 2006 1,83% 23,77% 2005 2005 0% 1% 2% 3% 0% 10% 20% 30% 40% 8 Türk Ekonomi Bankası A.Ş. Source: TEB, BRSA Consolidated Accounts
BNP PARIBAS JOINT VENTURE Ratios Loans / Deposits Marketable Sec. / Assets 15,67% 2Q07 2Q07 95,18% 1Q07 13,90% 1Q07 96,27% 16,1% 2006 2006 94,72% 17,1% 2005 91,30% 2005 0% 5% 10% 15% 20% 0% 25% 50% 75% 100% Capital Adequacy Ratio 10.84% 2007/2Q 12.2% 12.01% 2007/1Q 13.6% Consolidated 13.00% Bank- Only 2006 14.3% 13.76% 2005 12.3% 9 Türk Ekonomi Bankası A.Ş. 0% 4% 8% 12% 16% Source: TEB, BRSA Consolidated Accounts
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. 10 Türk Ekonomi Bankası A.Ş.
Recommend
More recommend
