Grupo Aval Acciones Y Valores Sa · BVC:GRUPOAVAL
Grupo Aval Acciones Y Valores Sa — Q1 2014 Earnings Presentation
38 slides from Grupo Aval Acciones Y Valores Sa's earnings presentation, May 29, 2014
Slide 1: Form 6-K Report of Foreign Private Issuer
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report Of Foreign Private Issuer Pursuant To Rule 13a-16 Or 15d-16 Of The Securities Exchange Act Of 1934 For the month of May 2014 _____________________ Commission File Number: 000-54290 Grupo Aval Acciones y Valores S
Slide 2: Table of Contents
GRUPO AVAL ACCIONES Y VALORES S.A. TABLE OF CONTENTS ITEM 1. Grupo Aval Acciones y Valores S.A. Presentation of 1Q 2014 consolidated results 2. Grupo Aval Acciones y Valores S.A. Report of 1Q 2014 consolidated results
Slide 3: 1Q14 Consolidated Earnings Results
May 2014 1Q14 Consolidated Earnings Results Colombian Banking GAAP
Slide 4: Disclaimer
Disclaimer Grupo Aval Acciones y Valores S.A. ("Grupo Aval") is an issuer in Colombia of securities registered with the National Registry of Shares and Issuers (Registro Nacional de Valores y Emisores), and in this capacity, it is subject to the control of the Superintendency of Finance. Grupo Aval
Slide 5: Highlights
Highlights Grupo Aval shows strong results of its banking operations in 1Q14: [] Total assets reached Ps. 160 trillion after growing by 24.6% versus 1Q13 and by 3.6% versus 4Q13; [] Gross loans reached Ps. 100 trillion after growing by 23.4% versus 1Q13 and by 3.5% versus 4Q13; [] Deposits reached P
Slide 6: Macroeconomic fundamentals
Macroeconomic fundamentals Strong GDP Growth Colombia World yoy)9% Growth(%7% 6.6% 5.2% 5% 4.0% 4.3% 4.6% 4.5% 4.0% 4.0% 3% 4.1% 3.9% 1.7% 3.2% Real GDP 2.9% 1% (0.6%) -1% 2009 2010 2011 2012 2013 14E 15E GDP per 5.2 6.3 7.1 7.9 7.8 8.2 8.5 Capita(1) Source: IMF(Projections) DANE and ANIF. (1) Colom
Slide 7: Assets
Assets Figures in Ps. Trillions Total Assets 1Q14 / 4Q13: 3.6% 1Q14 / 1Q13: 24.6% 159.9 (1) 154.3 128.4 1Q13 4Q13 1Q14 Assets Breakdown 1Q13 % of total 1Q14 % of total assets assets Other Other 21.4% 18.1% 21.2% 22.4% Foreign (2) Foreign (2) Loans and financial leases 81.9% 77.6% Loans and Investmen
Slide 8: Loans
Loans Figures in Ps. Trillions Gross loans 1Q14 / 4Q13: 3.5% 1Q14 / 1Q13: 23.4% 96.5 99.9 (1) 81.0 1Q13 4Q13 1Q14 Gross loans Breakdown Growth 1Q13 1Q14 1Q14 Vs. 1Q13 Microcredit 81.0 99.9 19.5% 0.4% 0.3% Mortgages 50.8% 5.7% 7.0% Financial leases 8.1% 7.1% 8.2% Consumer 29.8% 28.3% 17.3% Commercial
Slide 9: Loan portfolio quality
Loan portfolio quality (1) PDLs / Total loans NPLs / Total loans Loan provision expense / Average Loans 2.6% 2.4% 2.7% 1.6% 1.5% 1.3% 1.8% 1.8% 1.9% 1Q13 4Q13 1Q14 1Q13 4Q13 1Q14 Allowances Allowances / (1) Charge offs / Average NPLs (1) / NPLs PDLs 1.87x 1.79x 1. 68x 0.6x 0.6x 0.5x 1.25x 1.33x 1.17
Slide 10: Loan portfolio quality -- GRUPO AVAL
Loan portfolio quality -- GRUPO AVAL Loans % / Total Loans Past Due Loans (1) 1Q14 1Q13 4Q13 1Q14 Commercial 57.3% 1.5% 1.3% 1.6% Consumer 28.3% 4.3% 4.2% 4.4% Financial Leases 7.1% 3.6% 2.4% 3.2% Mortgages 7.0% 3.2% 3.5% 4.0% Microcredit 0.3% 11.2% 9.5% 10.3% Total Loans 100.0% 2.6% 2.4% 2.7% Asset
Slide 11: Funding
Funding Figures in Ps. Trillions Total Funding 1Q14/4Q13: Total Deposits 1Q14/4Q13: 3.3% 3.1% 1Q14/1Q13: 25.6% 1Q14 / 1Q13: 28.3% 106.6 129.7 134.0 81.3 101.2 104.3 (1) 1Q13 4Q13 1Q14 1Q13 4Q13 1Q14 ----------------- ----- ----- ----- Interbank Borrowings 4.7% 4.1% 4.8% Others 0.9% 1.1% 0.8% Long-Te
Slide 12: Capital
Capital Figures in Ps. Trillions Attributable Equity + Minority Interest Attributable Shareholders Equity 1Q14/4Q13: 1Q14/4Q13: 2.8% 2.4% 1Q14 / 1Q13: 31.5% (1) 1Q14 / 1Q13: 25.5% 11.7 12.1 9.2 1Q13 4Q13 1Q14 1Q13 4Q13 1Q14 Equity + minority Attributable Shareholders' Equity 9.2 11.7 12.1 11.6% 11.8
Slide 13: NIM -- Net Interest Margin
NIM -- Net Interest Margin Net interest income (trillions) 1Q14/ 1Q14/ 1Q13 4Q13 1Q14 4Q13 1Q13 1.88 1.77 1.86 5.2% -0.6% 7.8% 7.8% 7.7% 7.4% 7.3% 7.1% 7.1% 6.8% 6.0% 5.9% 6.0% 5.9% 3.9% 3.7% 2.0% 1.6% 1.1% 1.0% 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 4.0% 3.7% 3.3% 3.2% 3.1% 3.0% Avg. cost of funds / Total I
Slide 14: Net Fees and other operating income
Net Fees and other operating income Figures in Ps. Billions Net Fees(1) Fee Income 1Q14 1Q14 / 1Q13: 22.4% Commissions from Other, 10.7% 1Q14/4Q13: banking services, -0.5% 50.6% 763 759 620 Pension plan management, 20.0% Fiduciary activities, 6.1% 1Q13 4Q13 1Q14 (1) Total fees and other service inco
Slide 15: Efficiency and non operating income, net
Efficiency and non operating income, net Operating expenses / Operating expenses / Operating Income Average Assets 53.7% 50.5% 43.8% 4.0% 4.1% 3.7% 1Q13 4Q13 1Q14 1Q13 4Q13 1Q14 Efficiency Ratio is calculated as Operating Expenses before D&A Efficiency Ratio is calculated as annualized Operating Exp
Slide 16: Profitability
Profitability Figures in Ps. Billions Net income Excluding non- 424 recurring FX losses 505 362 350 1Q13 4Q13 1Q14 EPS $27.2 $19.3 $17.2 ROAA(1) 2.7% 1.7% 1.5% 1.5% 1Q13 4Q13 1Q14 ROAA 12 months 2.2% 1.6% ROAE(2) 14.2% 22.0% 14.8% 11.7% 1Q13 4Q13 1Q14 ROAE 12 months 18.8% 14.4% (1) ROAA for each qua
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Slide 18: Report of 1Q 2014 consolidated results
Report of 1Q 2014 consolidated results Information reported in Ps. billions(1) and under Colombian Banking GAAP (1) We refer to billions as thousands of millions.
Slide 19: Disclaimer
Disclaimer Grupo Aval Acciones y Valores S.A. (“Grupo Aval”) is an issuer in Colombia of securities registered with the National Registry of Shares and Issuers (Registro Nacional de Valores y Emisores), and in this capacity, it is subject to the control of the Superintendency of Finance. Grupo Aval
Slide 20: Report of 1Q 2014 consolidated results
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP Bogotá, May 20th, 2014. GRUPO AVAL ACCIONES Y VALORES S.A. (“Grupo Aval”) reports a consolidated net income result of Ps. 350.0 billion for 1Q14. As of March 31, 2014 total assets of Grupo Av
Slide 21: Quarterly Consolidated Balance Sheet
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP Grupo Aval Acciones y Valores S.A. Financial Statements in Colombian Banking GAAP Quarterly Consolidated Balance Sheet Information in Ps. Billions 1Q13 4Q13 1Q14 Change Balance Sheet 1Q 14 vs
Slide 22: Balance Sheet Analysis: Assets
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP Balance Sheet Analysis 1. Assets Total assets as of March 31, 2014 totaled Ps. 159,885.6 billion showing an increase of 24.6% versus March 31, 2013 and one of 3.6% versus December 31, 2013. G
Slide 23: Gross Loans by Bank
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP As of March 31, 2014, 60.7% of the gross loan portfolio was generated at Banco de Bogotá, 20.2% at Banco de Occidente, 12.5% at Banco Popular and 6.7% at Banco AV Villas. As of March 31, 2013
Slide 24: Loan risk categories and coverage
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP The ratio of CDE Loans to Total Loans was 3.6% in 1Q14 versus 3.5% for both, 4Q13 and 1Q13. The ratio of 30 days PDL to Total Loans was 2.7% in 1Q14 versus 2.4% in 4Q13 and 2.6% in 1Q13. The
Slide 25: Investment Securities
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP 1.2 Investment Securities Investment securities, net grew by 30.0% to Ps. 29,248.4 billion between March 31, 2013 and March 31, 2014 and by 7.1% versus December 31, 2013. Ps. 25,270.8 billion
Slide 26: Cash and Cash Equivalents; Goodwill
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP 1.3 Cash and Cash Equivalents As of March 31, 2014, cash and cash equivalents balance of Ps. 15,471.3 billion showed an increase of 15.0% versus March 31, 2013 and a decrease of 3.9% versus 4
Slide 27: Deposits
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP 2.1.1 Deposits Total Deposits grew by 28.3% to Ps. 104,332.8 billion between March 31, 2013 and March 31, 2014 and 3.1% between December 31, 2013 and March 31, 2014. As of March 31, 2014, int
Slide 28: Borrowings, Bonds and Minority Interest
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP 2.1.2 Borrowings from Banks and Other As of March 31, 2014, borrowings from banks and other totaled Ps. 12,428.5 billion, showing an increase of 34.8% versus March 31, 2013 and one of 4.0% ve
Slide 29: Income Statement Analysis
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP Income Statement Analysis Our net income attributable to shareholders for 1Q14 of Ps. 350.0 billion decreased by 3.4% versus 4Q13 results and by 30.7% versus 1Q13 results. The decrease versus
Slide 30: Net Interest Income
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP Our net interest income increased by 5.2% to Ps. 1,864.5 billion for 1Q14 versus 4Q13 and decreased by 0.6% versus 1Q13. The main reasons for the results versus 4Q13 were: • A 5.0% increase i
Slide 31: Fee Income and Other Operating Income, net
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP 3. Fee Income and Other Operating income, net Total fees and other operating income, net increased by 1.2% to Ps. 1,014.4 for 1Q14 versus 4Q13. Total fees and other services income, net decre
Slide 32: Minority Interest
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP 5. Minority Interest Minority Interest in Grupo Aval reflects: (i) the minority stakes that third party shareholders hold in each of its direct consolidated subsidiaries (Banco de Bogotá, Ban
Slide 33: About Grupo Aval
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP ABOUT GRUPO AVAL Grupo Aval is Colombia’s largest banking group, and through our BAC Credomatic operations it is also the largest and the most profitable banking group in Central America. Gru
Slide 34: Consolidated Balance Sheet
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP Grupo Aval Acciones y Valores S.A. Financial Statements in Colombian Banking GAAP Consolidated Balance Sheet in Col. Bking GAAP Information in Ps. Billions 1Q13 4Q13 1Q14 Change 1Q 14 vs. 4Q
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Slide 36: Consolidated Income Statement
Report of 1Q 2014 consolidated results Information reported in Ps. billions and under Colombian Banking GAAP Grupo Aval Acciones y Valores S.A. Financial Statements in Colombian Banking GAAP Consolidated Income Statement in Col. Bking GAAP Information in Ps. Billions Change Change YTD Mar 13 YTD Mar
Slide 37: Net Income attributable to Grupo Aval shareholders
Income attributable to Minority Interest 357.5 241.7 -32.4% 357.5 195.0 241.7 23.9% -32.4% Net Income attributable to Grupo Aval shareholders 505.3 350.0 -30.7% 505.3 362.4 350.0 -3.4% -30.7% (1) Figure for 1Q14 includes Ps. 84 billion of non-recurrent foreign exchange losses. 16/16
Slide 38: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: May 29, 2014 GRUPO AVAL ACCIONES Y VALORES S.A. By: /s/ Jorge Adrián Rincón Plata Name: Jorge Adri
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