Pt Bank Cimb Niaga Tbk Class A · IDX:BNGA
Pt Bank Cimb Niaga Tbk Class A — Q1 2010 Earnings Presentation
42 slides from Pt Bank Cimb Niaga Tbk Class A's earnings presentation, Apr 29, 2010
Slide 1: PT Bank CIMB Niaga Tbk 1Q 2010 Results
PT BANK CIMB NIAGA Tbk 1Q 2010 Results (Unaudited) Analyst Meeting Jakarta, 29 April 2010
Slide 2: 1Q 2010 Highlights
1Q 2010 Highlights • Net Profit doubled from Rp262.7 billion to Rp524.2 billion YoY • CASA increased to Rp44.8 trillion, resulting a significant increase in low cost fund ratio of 366 bps YoY to 48% • Loans grew by 14% YoY to Rp83.7 trillion • Total Assets increased by 11% YoY to Rp114.6 trillion an
Slide 3: Agenda
Agenda Financial Results Corporate Updates 2010 Strategic Priorities 3
Slide 4: Income Statement Highlights
Income Statement Highlights Consolidated Rp billion 1Q ’09 1Q ’10 YoY 4Q’09 1Q’10 QoQ Net Interest Income 1,436 1,665 16% 1,538 1,665 8% Net Non Interest Income 240 298 24% 526 298 -43% Operating Income 1,676 1,964 17% 2,064 1,964 -5% Operating Expenses (889) (1,033) 16% (961) (1,033) 8% Pre Provisi
Slide 5: Balance Sheet Highlights
Balance Sheet Highlights Consolidated Rp trillion Mar ’09 Mar ’10 Δ YoY Dec ’09 Mar ‘10 Δ QoQ Cash & Short Term Funds 9.48 20.38 115% 12.38 20.38 65% Marketable Securities 6.49 2.59 -60% 1.53 2.59 69% Government Bonds 8.83 5.03 -43% 6.61 5.03 -24% Loans (Gross) 73.41 83.67 14% 82.83 83.67 1% Loan Lo
Slide 6: Key Ratios
Key Ratios Consolidated % 1Q ’09 1Q ‘10 YoY 4Q ‘09 1Q ‘10 QoQ ROA 1.44 2.54 1.10 2.10 2.54 0.44 ROE 10.90 20.59 9.69 16.23 20.59 4.36 NIM 6.18 6.78 0.89 6.60 6.78 0.18 Fee Income 14.63 15.20 0.57 19.78 15.20 (4.58) Cost to Income (CIR) 52.84 51.69 (1.14) 49.01 51.69 2.68 Loan to Deposit (LDR) 85.77
Slide 7: Net Interest Margin
Net Interest Margin Our NIM increased to 6.8% in 1Q 2010 Net Interest Income Quarterly (Rp billion) Net Interest Income Breakdown 7% 6.8% Net Interest Margin 6.6% 6.7% Syariah 6.2% Retail Banking 6.4% 5.9%* 2% 6% 21% 5.6% Industry Business Average 26% 5.5% 5.6% 5.5% 5% 1,665 Treasury 1,613 1,630 32%
Slide 8: Non Interest Income
Non Interest Income Non-Interest Income by Segment Non-Interest Income by Type Retail Banking Fees & Commissions Business Banking 49% 77% 12% Corporate Banking Spot & Derivatives 30% Transactions 12% Others 9% Gain (Loss) on Marketable Securities 12% As of March 2010, Net Non-Interest Income was R
Slide 9: Cost to Income Ratio (CIR) improved YoY
Cost to Income Ratio (CIR) improved YoY (Rp billion) CIR* 52.8% 49.8% 49.9% 49.0% 51.7% 2,029 2,064 1,964 1,955 1,682 1,019 961 1,033 889 938 Mar '09 Jun '09 Sep '09 Dec '09 Mar '10 Operating Income Operating Expenses * Excluding Merger Cost 9
Slide 10: ROE increased to 20.6% due to significant increase in profit
ROE increased to 20.6% due to significant increase in profit Quarterly PAT (Rp billion) ROE (%) 524 20.6 457 433 416 16.0 16.2 14.5 263 10.9 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 10 10
Slide 11: Loan Breakdown by Business Segments
Loan Breakdown by Business Segments* Total Loans slightly increased, but Retail Loans increased by 5% QoQ Bank Only (Rp trillion) Compo- YoY QoQ sition Growth Growth 1,366 1,438 1,429** 1,305 1,335 Industry 9% -1% 73.0 72.6 74.1 83.0 83.3 100% 14% 0% 24.2 25.5 22.0 22.8 22.7 31% 16% 5% Retail 30.6 3
Slide 12: Retail Loans by Products
Retail Loans by Products Auto Loans significantly increased 48% YoY and 12% QoQ Bank Only (Rp trillion) Composition YoY QoQ Growth Growth Total 22.0 24.2 25.5 16% 5% 1.4 Personal/Multi- 6% -7% -2% 1.5 1.4 purpose 1.4 5% 8% -1% 1.5 Credit Cards 1.3 8.6 9.7 38% 48% 12% Auto Loans 6.5 Mortgage 12.6 12.
Slide 13: Mortgage loans
Mortgage loans Represents 51% of Retail Loans and 16% of total loans Market share 11.9% 10.5% 10.8% (Rp trillion) YoY QoQ Growth Growth Top 5 Mortgage Providers Industry 124.7 123.7 Dec ‘09 111.2 -11% -10% Mortgage Lender Share Bank Tabungan Negara 17.1% CIMB Niaga 10.9% BCA 10.5% Mandiri 7.9% BNI 6
Slide 14: Strong Growth in Auto Loans
Strong Growth in Auto Loans Bank Only (Rp billion) YoY QoQ Composition Growth Growth Total 6,531 8,600 9,672 100% 48% 12% Indirect Loans 5,066 7,176 8,129 84% 60% 13% Direct Loans 16% 5% 8% 1,465 1,424 1,543 Mar '09 Dec '09 Mar '10 14
Slide 15: Credit Card
Credit Card Number of cards continue to grow Number of Cards Sales Volume (in thousands) (in Rp trillion) 702 741 580 1.31 1.43 1.41 Mar '09 Dec '09 Mar '10 1Q '09 4Q '09 1Q '10 Number of cards increased by 28% YoY and 6% QoQ to 741 thousands Launched CIMB Niaga World Card cooperated with Master
Slide 16: Business Loans
Business Loans Bank Only Compo- YoY QoQ Loans by Tiering (Rp trillion) sition Growth Growth Total 27.3 30.6 30.4 11% -1% 8.2 7.9 7.9 26% 0% -4% < Rp5 bio 9.9 9.7 9.6 32% 1% -2% Rp5 bio - 25 bio > Rp25 bio 12.6 12.8 42% 31% 2% 9.8 Mar '09 Dec '09 Mar '10 16
Slide 17: Mikro Laju & Rahn
Mikro Laju & Rahn Grew encouragingly by 158% and 137% QoQ Loans Rahn Performance (Rp million) (Rp million) 62,869 1,508 24,344 635 Dec '09 Mar '10 Dec '09 Mar '10 CIMB Niaga Dec ‘09 Mar ‘10 Mikro Laju Outlets 40 42 Rahn 3 5 17
Slide 18: Corporate Loans
Corporate Loans* Investment Loans increased by 4% QoQ Bank Only Compo- YoY QoQ Loans by Product (Rp trillion) sition Growth Growth Total 22.7 27.0 26.1 15% -3% 10.7 9.0 35% -18% -15% 11.1 Working Cap. 16.4 17.1 65% 47% 4% Investment 11.6 Mar '09 Dec '09 Mar '10 * Excluding Syariah 18
Slide 19: Syariah Financing grew by 26% YoY and 21% QoQ
Syariah Financing grew by 26% YoY and 21% QoQ supported by solid Growth in Deposits YoY (Rp billion) CIMB Niaga Mar ‘09 Mar ‘10 ∆ YoY Conventional Branch 7 10 3 1,769 Dual Banking System 202 505 303 1,574 1,256 1,000 1,034 736 Mar '09 Dec '09 Mar '10 Deposits Financing* Total deposits significantl
Slide 20: NPL & Loan Loss Coverage Ratio
NPL & Loan Loss Coverage Ratio Bank Only Gross NPL Ratio (%) Loan Loss Coverage Ratio (%) Industry Ratio* Average Top 10 Banks’ Ratio 149.9% 3.9% 3.5% 102.6% 3.3% 115.4% 108.1% 3.1% 3.1% 84.5% 2.8% Mar '09 Dec '09 Mar '10 Mar '09 Dec '09 Mar '10 Industry source: Indonesia Banking Statistics Feb 2010
Slide 21: Loans Quality
Loans Quality Bank Only Loans by Collectibility (% of Total Loan) Total NPL Mar ‘10: Rp2,525 bio (Mar ‘09: Rp2,061 bio; Dec ‘09: Rp2,514 bio)* Special Mentioned 1Q ‘09: 6.4% 1Q ‘10: 4.4% Pass NPL 1Q ‘09: 2.8% 1Q ‘09: 90.7% 1Q ‘10: 3.1% 1Q ‘10: 92.6% * Exclude NPL from loan to bank 21
Slide 22: Loans Quality By Business Segment
Loans Quality By Business Segment (Bank Only) Mar ‘09 Dec ‘09 Mar ‘10 Gross NPL (%) 2.8% 3.1% 3.1% Total Loans (Rp trillion) 73.0 83.0 83.3 30 1.7% 1.7% 1.6% 2% 25 20 15 10 22.0 24.2 25.5 1% Retail 5 0 0% 30 4.7% 4.5% 4.3% 5% 4% 25 3% 2% 1% 20 0% -1% 15 27.3 30.6 30.4 -2% -3% Business 10 5 -4% -5% -
Slide 23: Customer Deposits (1)
Customer Deposits (1) CASA grew by 14% QoQ and 20% YoY and push CASA ratio up by 366 bps to 48% Consolidated (Rp trillion) YoY QoQ Growth Growth 1,786 1,824 1,857 1,973 1,932 Industry 8% -2% Total Deposits 84.4 82.6 81.3 86.3 93.7 11% 9% 49% 49% 48% 44% 46% Time Deposit 48.8 47.1 42.3 41.4 46.9 4% 4
Slide 24: Customer Deposits (2)
Customer Deposits (2) Breakdown by Business Segment Bank Only (Rp trillion) Compo- YoY QoQ sition Growth Growth 84.4 82.6 81.4 86.3 93.7 100% 11% 9% 41.1 42.2 44.7 48% 9% 6% 40.1 39.7 Retail Business 29.0 31% -2% 1% 29.6 28.6 27.1 28.7 Corporate (incl. Syariah) 20.0 21% 45% 30% 13.7 14.0 14.5 15.4 M
Slide 25: Total Equity continued to increase, CAR with Basel II at 12.76%
Total Equity continued to increase, CAR with Basel II stood at 12.76% Total Equity (Rp trillion) CAR (%) – Bank Only 11.68 CAR Market Risk Operational Risk 11.21 10.82 10.19 0.28 9.60 0.18 0.14 0.06 0.7 0.07 16.34 15.30 15.03 13.59 12.76 Mar '09 Jun '09 Sep '09 Dec '09 Mar '10 Mar '09 Jun '09 Sep '0
Slide 26: Share price has closed at Rp890 in 1Q 2010
Share price has closed at Rp890 in 1Q 2010 During 1Q 2010 Hi: 920 (24 Mar ‘10) Lo: 710 (4 Jan ‘10) Close: 890 BNGA Mar ‘09 Jun ‘09 Sep ‘09 Dec ‘09 Mar ‘10 Share Price (Rp) 470 620 700 710 890 PBV (x) 1.21 1.55 1.64 1.57 1.90 PER 9.00 13.50 14.98 13.33 13.52 Source: Bloomberg 26
Slide 27: Agenda
Agenda Financial Results Corporate Updates 2010 Focus Areas 27
Slide 28: Corporate Updates
Corporate Updates IFRS Compliance Implementing IFRS 139 (PSAK 50 & 55) in 1Q 2010. (PSAK 50 & 55) Held AGMS on 25 Mar 2010 and appointed 2 new members of AGMS the Board of Commissioners, Hamidah Naziadin and Glenn MS Yusuf In the process of issuing IDR Subdebt, targeted to complete in Capital Raisin
Slide 29: Credit Rating
Credit Rating Rating Agencies Rating / Outlook 2009 1Q 2010 Standard & Poor’s Foreign Currency/Outlook BB-/Stable/B BB-/Positive/B (Unsolicited) Global Local Currency Deposit Baa3 Baa3 Foreign Currency Long-Term Deposit B1 / Stable Ba3 / Stable Moody’s Issuer Rating Ba2 / Stable Ba1 / Stable Bank Fi
Slide 30: Business & Corporate Activities in 1Q 2010
Business & Corporate Activities in 1Q 2010 CIMB Niaga and Acer Indonesia signed agreement for e-Chain Financing CIMB Niaga and MasterCard WorldWide launched World Credit Card – a super premium credit card with exclusive regional privileges CIMB Niaga and PT Perusahaan Listrik Negara (Persero) signed
Slide 31: CSR Activities in 1Q 2010
CSR Activities in 1Q 2010 Scholarship program: CIMB Niaga cooperated with Khazanah Asia Scholarship grant scholarship for CIMB Niaga employee Bank Indonesia Financial Education Program, “Ayo Ke Bank”: Economic Outlook 2010, Entrepreneurship and Card Education Campaign at Universitas Al Azhar Indon
Slide 32: Agenda
Agenda Financial Results Corporate Updates 2010 Focus Areas 32
Slide 33: 2010 Focus Areas
2010 Focus Areas Cars and motorcycle financing High-Margin Credit cards Lending Micro financing expansion Businesses Lending to pension market Structured finance Diversification of Strengthen Transaction Banking Revenue Streams Scale up Shariah banking through leverage model Corporat
Slide 34: Thank You
THANK YOU This Presentation is not intended to form the basis of any investment decision with respect to PT Bank CIMB Niaga Tbk (“CIMB Niaga” or the “Company”). Neither this Presentation nor anything contained herein shall form the basis of, or be relied upon in connection with, any contract or comm
Slide 35: Appendix
Appendix bal CIMBNIAGA 35
Slide 36: CIMB Niaga – Shareholding Structure
CIMB Niaga – Shareholding Structure As of 31 March 2010 BTMU Employees Public KWAP Provident 51.8% 2.6% 4.3% Fund 12.9% 28.4% CIMB Group Holdings Berhad 100% Public 2.0% 78.3%* 19.7%** * Includes PT Commerce Kapital 1.02% ** Through: • Santubong Ventures Sdn Bhd 16.64% • Greatville Pte Ltd 2.57% • P
Slide 37: CIMB Niaga – Board of Commissioners
CIMB Niaga – Board of Commissioners Dato’ Mohd Shukri Hussin Roy Edu Tirtadji • President Commissioner Vice President Commissioner (Independent) • Executive Director CIMB Group 39 years experience in banking industry, includes Citibank and Lippobank Ananda Barata Zulkifli M. Ali Independent Co
Slide 38: CIMB Niaga – Board of Directors
CIMB Niaga – Board of Directors Arwin Rasyid D. James Rompas President Director Vice President Director serving concurrently as Credit Risk Management Director Catherine Hadiman M. Fadzil Vice President Director serving concurrently as Corporate Banking Treasury & Capital Market Director Director Wa
Slide 39: The Bank's Vision
The Bank’s Vision VISION VISION To Be South East Asia’s Most Valued To be the most trusted Indonesian Universal Bank Bank that is part of South East Asia’s leading Universal Bank by understanding our customers’ needs, providing the right comprehensive financial solutions and building lifetime relati
Slide 40: The fifth largest in terms of asset
The fifth largest in terms of asset* Top 10 Banks control 64.6% of Industry’s assets Market Cap (Rp Tio) Mar ‘10 112.19 107.32 139.30 37.80 22.26 47.02 28.89 9.91 15.48 na Bloomberg Feb ‘10 364 308 283 218 108 96 78 59 58 54 Mandiri BRI BCA BNI CIMB Niaga Danamon Panin Permata BII BTN Feb ‘10 Share
Slide 41: Fifth largest in loans, deposits and networks
Maintained our position as the fifth largest banks in terms of loans, deposits and networks Loans (Rp trillion) Customer Deposits (Rp trillion) Top 10 Banks control 64.2% of Industry’s loans Top 10 Banks control 66.1% of Industry’s customer deposits 202 287 176 244 232 119 116 177 82 86 60 42 66 58
Slide 42: The largest payment bank for KSEI by value
The largest payment bank for KSEI by value Dec ‘09 C-Best Value Mar ‘10 BCA BCA BCA 20% 13% 18% CIMB Niaga CIMB Niaga CIMB Niaga Bank 50% 53% Bank 52% Mandiri Bank Mandiri 50% 25% Mandiri 30% Permata Permata 5% 6% •Transaction volume Dec 2009 YTD: Rp1.373 trillion, March 2010 YTD: Rp383 trillion 42