Credito Real Sab De Cv Sofom Enr · BMV:CREAL
Credito Real Sab De Cv Sofom Enr — Crédito Real — Q1 2011 Earnings Presentation
21 slides from Credito Real Sab De Cv Sofom Enr's earnings presentation, May 2011
Slide 1: Investor Presentation Q1 2011 May 2011
Investor Presentation Q1 2011 May 2011
Slide 2: Notice to recipient / Aviso
Notice to recipient The information Th i f ti contained t i d in i this thi presentation t ti h has b been preparedd solely l l for f i f informational ti l purposes. This Thi presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities of Company. Certain ma
Slide 3: Table of Contents
Table of Contents Financial O Business Our B i Sh h ld Shareholders Summary Loan Portfolio Key Indicators Debt Profile
Slide 4: Company Overview
Company Overview Description Customers 306,657 Mexican financial institution providing loans to the Mexican low and middle income population: Group Credits (Microcredits) Customers 81,139 (26% of total) Over 18 years in the market Average credit MXN 5,000 Over 4 million loans disbursed Ove
Slide 5: Company Overview – Key Financials
Company Overview – Key Financials Figures in MXN million Quarter Q1 11 vs. Operation Hedge Q1 2011 Q1 2010 10 Income Statement Interest Income $272 62 $334 $211 58.5% Net Interest Income $153 8 $161 $151 6.6% Commissions and Fees Paid $14 $14 $25 (42.8%) Administration Expenses $88 $88 $75 17.5% Net
Slide 6: Company Structure
Company Structure Nexxus Capital Private Berrondo Futu-lem Equity Fund III Family 22.5% 72.1% 5.4% Futu-Iem Nexxus Capital Families Berrondo (majority), Saiz and Esteve Nexxus Capital Private Equity Fund III are the founding shareholders. shareholders They also are ((“NEXXUS NEXXUS III”) III ) i
Slide 7: Company Highlights
Company Highlights Underserved and Underpenetrated Market with High Growth Potential High Margin, Low Risk Product Offering Diversified Loan Portfolio Spread Out Among 306,657 Active Customers High Liquidity as a Result of Low Average Life of Loan Portfolio C ti Continued d Access A t Dive
Slide 8: Overview of the Crédito Real Business Model
Overview of the Crédito Real Business Model Group Loans Payroll Durable Goods (Microcredits) Market Employees Women Families Target market Unionized Government Micro Entrepreneurship Middle to low income Potential market 7M employees 20M people 24M people Distribution Channel External Own External D
Slide 9: Payroll Loans – Q1 2011
Payroll Loans – Q1 2011 Portfolio Balance By Distributor Portfolio Balance By State MxM $2,937 MxM $2,937 Others 13% Guerrero Others Publisegg 21% 33% 8% EdoMex 14% Kondinero 17% Ofem Puebla Oaxaca 62% 12% 9% SLP 4% Michoacan 7% Portfolio Balance By Public Sector Origination By Distributor MxM $2,93
Slide 10: Microcredits
Microcredits Customers Promoters 88% 63% 390 81,139 374 76,653 , 239 43,119 199 38,906 2009 2010 1Q 2010 1Q 2011 2009 2010 1Q 2010 1Q 2011 Branches Loan Portfolio and Collections $MxM 1,000 60% 93% 80 72 395 535 49 50 159 171 158 68 82 2009 2010 1Q 2010 1Q 2011 2009 2011 1Q 2010 1Q 2011 % Growth 201
Slide 11: Loan Portfolio - Customers
Loan Portfolio - Customers Durable Goods Loans Payroll Loans 152,050 111,000 134,838 103,869 99,796 , 101,775 73,468 94,500 2009 2010 1Q 2010 1Q 2011 2009 2010 1Q 2010 1Q 2011 Microfinance Credito Real 311,287 306,657 81,139 76,653 244,406 248,763 43,119 38,906 2009 2010 1Q 2010 1Q 2011 2009 2010 1Q
Slide 12: Loan Portfolio
Loan Portfolio Performing Loan Portfolio $MxM 158 159 117 82 102 2,770 2,937 Microfinance 2,702 2,637 2,569 Payroll Durable Goods 563 600 651 714 701 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 Total 3,282 3,271 3,470 3,643 3,796 Total Loan Portfolio $MxM 3,824 3,670 3,322 3,309 3,158 Credito Real is ab
Slide 13: Loan Portfolio
Loan Portfolio NPL / Total Loans 0.11% 0.46% 0.30% 2.45% 0.72% 0.95% 1Q 2010 1Q 2011 Durable Goods Payroll Microcredits NPL / Total Loans 12.1% 8 0% 8.0% 8 1% 8.1% 7.1% 5.2% 4.4% 0.88% 0.71% 0.72% 0.75% 2008 2009 2010 1Q 2011 Crédito Real Sofom / Sofol Sector Bank System
Slide 14: Liquidity – Loan Portfolio Repayments
Liquidity – Loan Portfolio Repayments $MxM Durable Goods Payroll Microcredits 2Q 2010 – 1Q 2011: $3,947 339 395 161 124 171 213 278 153 495 507 471 471 585 564 486 469 207 195 207 199 178 150 147 142 2Q'09 3Q'09 4Q'09 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 Avge. Loan Portfolio 3,135 3,100 3,166 3,3
Slide 15: Debt Profile – April 2011
Debt Profile – April 2011 MxM $4,205 3% 20% Maturities 2013 58% 19% $ 569.2 2,421 14% Maturities 2012 $ 509.2 Maturities 2011 $ 705.5 12% 17% 329 250 240 200 150 159 133 133 83 78 23 6 May'11 y Jul 11 Sep'11 p Dic'11 Feb'12 Mar'12 Jul'12 Dic'12 Feb'13 Jun'13 Apr'15 p Senior (Non‐guaranteed) Market D
Slide 16: Debt Profile
Debt Profile $MxM December 2009 December 2010 April 2011 $2 956 2 $2,956.2 $3 990 0 $3,990.0 $4 205 0 $4,205.0 3% 19% 78% Senior (Non‐guaranteed) Market Debt Guaranteed Market Debt Bank Credit Lines
Slide 17: Liquidity Profile
Liquidity Profile $MxM Cash‐flow available Liabilities 8,000 7,000 6,000 , 5,000 4,000 3,000 2,000 1,000 ‐ jun‐11 sep‐11 dic‐11 mar‐12 jun‐12 sep‐12 dic‐12 mar‐13 jun‐13 sep‐13 dic‐13 2014+
Slide 18: Key Indicators
Key Indicators Allowance / NPL $MxMP Net Income 150.0 100% 102% 100% 100% 118.6 100.0 59.0 69.0 ‐51.6 42.6 50.0 67% 66.6 5.7 61% 62% 47.0 46.0 36.9 26.2 0.0 ‐50.0 ‐114.0 ‐100.0 ‐150.0 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2008 2009 2010 1Q 2011 Operation Hedge‐Swap Crédito Real Sofom / Sofol Secto
Slide 19: Key Indicators
Key Indicators Efficiency Annual Efficiency 57% 57% 52% 52% 49% 50% 49% 46% 47% 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2008 2009 2010 1Q 2011 Quarterly Capitalization Index Annual Capitalization Index 26% 26% 26% 26% 25% 25% 23% 18% 23% 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 Indicators exclude Hed
Slide 20: Financial Summary
Financial Summary $MxMP B / S Millions of Pesos 1Q 2011 1Q 2010 2010 2009 2008 Assets Cash & Investments 393.1 154.7 461.4 261.9 162.3 Loan Portfolio Net 3,795.7 3,279.8 3,644.0 3,297.9 3,130.5 Total Assets 5,342.7 3,821.5 5,082.9 3,751.1 3,525.7 Liabilities St kh ld ´ Equity Li biliti & Stockholder
Slide 21: Investor Relations
Investor Relations Website: http://www.creditoreal.com.mx/bursatil.html Email: creditorealdesk@creditoreal.com.mx inversionistas@creditoreal.com.mx Contact information: Lorena Cárdenas Costas Telephone: 52(55)5340‐5282 Email: lcardenas@creditoreal lcardenas@creditoreal.com.mx com mx Anthony McCarthy