Bank Alfalah Limited · PSX:BAFL
Bank Alfalah — Q2 2015 Earnings Presentation
15 slides from Bank Alfalah's earnings presentation, Aug 28, 2015
Slide 1: Analyst Briefing – 2Q 2015 Performance Review & Outlook
Analyst Briefing – 2Q 2015 Performance Review & Outlook 28th August 2015
Slide 2: Basic Data & Market Positioning
Basic Data & Market Positioning Commencement of operations 1997 Head Quarters Karachi Major Sponsors Dhabi Group Credit Rating (Long Term/ Short Term) AA / A1+ Branches 648 (including 157 Islamic Branches) Cities Covered 222 cities in Pakistan, 7 cities overseas International Presence 11 Internation
Slide 3: Balance Sheet Snapshot
Balance Sheet Snapshot Amount PKR Mn Jun-14 Dec-14 Jun-15 YoY YTD Balance sheet size increased by 17% YoY to Cash 56,005 50,516 52,408 -6% 4% PKR 786bn. Bal with banks 20,843 12,332 12,349 -41% 0% Lending to FI grew due to Lending to FI 14,687 18,313 32,052 118% 75% Bai Muajjal product. Advances
Slide 4: Profit & Loss Snapshot
Profit & Loss Snapshot Amount PKR Mn 2Q14 2Q15 YoY 1H14 1H15 YoY Net Interest Income (NII) increased 35% YoY in 2Q, Interest Income 13,120 15,350 17% 25,038 31,250 25% backed by 32% growth in average earning assets Interest Expenses 7,839 8,238 5% 15,470 17,336 12% and expansion in NIMs. Net Int I
Slide 5: Key Ratios
Key Ratios 2Q14 3Q14 4Q14 1Q15 2Q15 NIMs improved YoY due to shift in investment mix Yield on Advances 10.1% 10.2% 10.4% 9.8% 8.6% and re-profiling of Islamic Yield on Investments 10.0% 10.5% 10.3% 9.9% 9.4% Banking Balance Sheet. Cost of Deposits 5.0% 5.3% 5.2% 4.9% 4.1% Adjusting for prior per
Slide 6: 2Q15 Performance Review
2Q15 Performance Review
Slide 7: Advances & Asset Quality Trends
Advances & Asset Quality Trends NPL accretion mostly contained Coverage improved to 77% NPLs NPLs/gross advances Provisions Coverage 12% 50 100% 25 76.5% 77.6% 10% 40 80% 70.3% 69.9% 70.1% 20 8% 30 60% 15 6.2% 6.5% 6.4% 6.4% 5.9% 14.3 14.7 13.0 13.6 6% 20 40% 12.5 10 17.8 18.6 19.4 18.7 18.9 4% 10 2
Slide 8: Deposit Mix & Cost
Deposit Mix & Cost Deposit growth trend (PKR bn) CASA continues to remain strong (PKR bn) 700 500 76% Thousands 69% 71% 457 600 400 420 606 605 72% 69% 374 500 526 300 328 64% 57% 277 457 400 200 225 401 184 354 300 325 100 200 - 2009 2010 2011 2012 2013 2014 2Q15 2009 2010 2011 2012 2013 2014 2Q15
Slide 9: Appendix
Appendix
Slide 10: Balance Sheet Summary
Balance Sheet Summary Amount in PKR Mn 2010 2011 2012 2013 2014 4yr-CAGR Cash & Bal. with treasury bank 41,198 50,883 58,044 61,205 55,378 5% Balances with other banks 16,179 17,424 26,721 35,180 12,332 -7% Lending to FIs 6,498 7,765 877 2,522 18,313 30% Advances (net) 207,153 198,469 233,933 260,78
Slide 11: Profit & Loss Summary
Profit & Loss Summary Amount in PKR Mn 2010 2011 2012 2013 2014 4yr-CAGR Interest income 37,530 44,298 46,080 43,961 55,378 10% Interest expense 23,855 25,687 27,500 27,066 33,505 9% Net interest income 13,675 18,611 18,580 16,895 21,873 12% NPL Provisions 2,269 1,870 1,850 959 1,448 -11% Investment
Slide 12: Key Ratios
Key Ratios 2010 2011 2012 2013 2014 Capital Adequacy Ratio (Tier-I) 7.1% 8.6% 8.5% 8.4% 9.6% Capital Adequacy Ratio Total 10.5% 11.6% 12.6% 12.1% 12.8% Net Interest Margins 4.1% 5.1% 4.4% 3.5% 3.8% Admin Cost to Income Ratio 68.4% 57.7% 58.8% 68.7% 65.6% Non Interest Income as % of total 25.6% 22.4%
Slide 13: Snapshot of the Bank Stock Market Related Data
Snapshot of the Bank Stock Market Related Data Bloomberg Code BAFL PA Reuters Code BAFL.KA Shares Outstanding (mn) 1589.81 Market Capitalization (PRsbn) 42.47 Market Capitalization (US$mn)* 408.33 Average Daily Turnover (mn shares) 2.48 Average Daily Turnover (US$mn)* 0.81 Current Stock Price** 26.7
Slide 14: Disclaimer
Disclaimer This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as
Slide 15: Contact Information
Contact Information For any queries: Imtiaz Gadar, CFA Head of Public Markets Bank Alfalah Limited Ph# +92 21 3241 6979 +92 21 3242 3617 Imtiaz.gadar@bankalfalah.com 15