Eurobank S.A. · ATHEX:EUROB
Eurobank — EFG Eurobank Ergasias — H1 2001 Earnings Presentation
21 slides from Eurobank's earnings presentation, 2001
Slide 1: First Half 2001 Results
EFG @ Eurobank Ergasias FIRST HALF 2001 RESULTS
Slide 2: Hosts and Table of Contents
Hosts and Table of Contents Mr Nicholas Nanopoulos, CEO H1 2001 Financial Highlights Mrs Paula Hadjisotiriou, CFO H1 2001 Business Review H1 2001 Financial Review Outlook Investor Relations Contacts 2
Slide 3: 1H 2001 - Financial Highlights (IAS)
1H 2001 - Financial Highlights (IAS) • Total operating income up 3.5% to € 469 mn (Grd. 160 bn) • Operating costs expansion decelerating • personnel and other administrative expenses up by 8.6% y.o.y. • Group EBT up 3.5% (y.o.y.) to €181 m (Grd. 61.5 bn) • Group Net Profit up 28% to €123 m (Grd. 42
Slide 4: H1 2001 Business Review
EFG Cs) Eurobank Ergasias H1 2001 BUSINESS REVIEW
Slide 5: Retail Lending: maintaining leading position
Retail Lending: maintaining leading position Consumer Lending • Market leader in consumer loans, with outstanding balances of €1.7 bn (Grd 585 bn), up 59% from June 2000 • Market leader in credit cards, with estimated market share of 28% Mortgage Lending • Gaining market share, with outstanding bala
Slide 6: Mutual Funds: Leading Manager of People's Wealth
Mutual Funds: Leading Manager of People’s Wealth Market shares in Mutual Funds per Banking Group (1999-H1 2001) EFG 20% 18.5% NATIONAL 14.5% ALPHA 9% INTERAMERICAN 8% COMMERCIAL 5% PIRAEUS Upper band = H1 2001 Middle band = 2000 Lower band = 1999 6
Slide 7: Investment Banking and Capital Markets: Capturing first place
Investment Banking and Capital Markets: Capturing first place • Leading in IPO underwriting with 27.5% in 1H 2001, from 19% in 2000 27.5% 30% • Significant presence in debt capital markets 25% 19% (issuing of corporate and government bonds) 20% 13% and advisory business 15% • Enlarged client base in
Slide 8: Capital Markets: Capturing first place
Capital Markets: Capturing first place • We rank second in equity trading with 7.1% in H1 2001, from 6% at the end of 2000 7.1% •The group also has a leading position in 8% the Athens Derivatives Exchange, which 6% will be further strengthened by the 6% acquisition of Telesis 4% 4% •Strong, recogniz
Slide 9: H1 2001 Financial Review
EFG Cs) Eurobank Ergasias H1 2001 FINANCIAL REVIEW
Slide 10: Steady improvement in profitability
Steady improvement in profitability 1H 2000 2H 2000 1H 2001 RoE (1) 10.34% 11.24% 13.79% RoA (2) 1.55% 1.25% 1.39% Net Profits €mn 140 120 100 80 60 123 96 103 40 20 0 1H 2000 2H 2000 1H 2001 (1)After tax and minorities (2)After tax incl. minorities 10
Slide 11: Robust loan growth at 30% in H1 2001
Robust loan growth at 30% in H1 2001 12.000 € mn 4,00% 3,50% 10.000 3,00% 8.000 2,50% 6.000 2,00% 9.485 8.422 1,50% 4.000 7.239 1,00% 2.000 0,50% 0 0,00% 1H 2000 2H 2000 1H 2001 Total Loans Net Interest Margin Quality maintained with NPLs at 4.1% of total loans (organic NPLs below 3%) 11
Slide 12: Loan mix: gradual shift to retail banking
Loan mix: gradual shift to retail banking Loan mix (% of total) 100% 90% 19% 22% Wholesale: 66 % Wholesale: 61 % 80% 70% 60% 39% 47% 50% 40% 6% Retail: 39 % 6% Retail: 34 % 30% 15% 20% 14% 10% 18% 14% 0% 1H 2000 1H 2001 Consumer lending Mortgage lending SBL SMEs Large coprorates 12
Slide 13: AUM up 6% despite 19% ASE drop
AUM up 6% despite 19% ASE drop •Total Assets Under Management up 6% (y.o.y) to Grd 7,145 bn (€ 21 bn) •Strong growth in deposits by 30% (y.o.y) to Grd. 5,314bn (€ 15.6 bn ) Assets Under Management €mn 25.000 20.000 5.373 7.823 6.294 15.000 10.000 13.239 15.596 5.000 12.001 0 1H 2000 2H 2000 1H 2001
Slide 14: Net Interest Income grew by 24% y.o.y.
Net Interest Income grew by 24% y.o.y. Net Interest Income €mn 350 300 .y. 24 % th y.o Grow 250 200 150 292 269 235 100 50 0 1H 2000 2H 2000 1H 2001 14
Slide 15: Operating Income up 3.5% driven by growth in Net Interest Income
Operating Income up 3.5% driven by growth in Net Interest Income Operating Income Composition €mn 500 3.5 % 450 24 68 400 83 350 148 108 300 135 250 200 150 292 269 100 235 50 0 1H 2000 2H 2000 1H 2001 Net Interest Income Fees and Commissions Other non-interest income 15
Slide 16: Commission and Fee income depressed by weak capital markets
Commission and Fee income depressed by weak capital markets €, mn Commission & Fee Income 160 140 120 23 100 23 43 80 16 60 17 23 40 45 52 20 0 H1 00 H1 01 Lending activities Mutual funds and AUM Capital Markets Other services ASE average daily turnover fell 68% to € 177m in 1H 2001 16
Slide 17: Cost to assets ratio improved
Cost to assets ratio improved 1H 2000 1H 2001 Cost/ATA 2.92% 2.71% €mn 300 3,10% 2,90% 250 2,70% 200 2,50% 10% 150 2,30% 223 246 2,10% 100 1,90% 50 1,70% 0 1,50% 1H 2000 1H 2001 Operating Expenses Cost to Avg Assets 17
Slide 18: Operating Expenses: driven by depreciation
Operating Expenses: driven by depreciation Personnel and Other Administrative Depreciation Expenses € mn 35 € mn 250 8.6% 30 200 25 5.9% 2 150 100 208 225 20 27 15 21 50 0 10 H1 2000 H1 2001 H1 2000 H1 2001 18
Slide 19: 1H 2001 - Financial Highlights (IAS)
1H 2001 - Financial Highlights (IAS) • Net Interest Income up 24% to €292m • Net interest Margin above 3% • Operating costs expansion contained • personnel and other administrative expenses up by 8.6% y.o.y. • Cost / Income ratio at 53.8% • Group Net Profit up 28% to €123 m • improvement compared to
Slide 20: On our way to achieve long-term goals
On our way to achieve long-term goals 2000 1? 2001 Target Net interest margin 3.2% 3.1% > 3% Commissions 31.6% 23.1% ~ 40% (% of operating income) Cost-to-income 56.2% 53.8% < 50% Return on Assets 1.3% 1.4% > 1.5% (after-tax) Capital Adequacy 16.3% 14.2% 7-8% (Tier 1 only) Optimisation of Return on
Slide 21: Investor Relations Contacts
Investor Relations Contacts EFG Eurobank Ergasias 8, Othonos Str, GR 105 57 Athens Fax:+30-1-333-7150 investor_relations@eurobank.gr Internet: www.eurobank.gr Reuters: EFGr.AT Bloomberg: EUROB GA Datastream: G:EFG 21
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