Turkiye Vakiflar Bankasi Turk Anonim Ortakligi · BIST:VAKBN
Turkiye Vakiflar Bankasi Turk Anonim Ortakligi — H1 2021 Earnings Presentation
26 slides from Turkiye Vakiflar Bankasi Turk Anonim Ortakligi's earnings presentation, Aug 9, 2021
Slide 1: Earnings Presentation BRSA Bank-Only 1H 2021
Earnings Presentation BRSA Bank-Only 1H 2021 August 9, 2021
Slide 2: 2Q21 Earnings and Ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 2Q21 Earnings and Ratios Net Income (TL million) 3,241.4 1,410.5 TL 1,472 million 750.1 free provisions 660.3 in the balance sheet 1H20 1H21 1Q21 2Q21 Core Banking Revenue (TL million)* Coverage Ratios (%) 19.1% Stage II Coverage Ratio Stage II
Slide 3: Key Highlights of 2Q21
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Key Highlights of 2Q21 Quarterly decelerated lending growth • Total loans are up by 2.4% QoQ and 24.2% YoY. TL loans are up by 0.9% QoQ and 18.2% YoY. FC loans are up by 0.4% QoQ and 10.3% in USD terms. Core banking revenue gets the lion sh
Slide 4: 1H21 P&L Details
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 1H21 P&L Details 4,949 10,889 (4,337) 1,929 120 (1,968) 5,858 (4,871) 1H21 (270) 1,410 Net Interest Net Fees and Dividend Net Trading Other Income Total Operating Provisions Taxes Net Income Income Commissions Income Income Revenue Expenses % v
Slide 5: NIM, Spreads & Costs
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 NIM, Spreads & Costs Net Interest Margin (NIM %) Swap Adjusted Net Interest Margin (%) 4.30 3.74 0.89 0.82 2.02 1.94 0.74 1.80 15 bps 22 bps 2020YE 1Q21 2Q21 1H21 2020YE 1Q21 2Q21 1H21 CPI Expectations Total Money Market Funding 2Q20 3Q20 4Q20
Slide 6: Revenue breakdown
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Revenue breakdown Core Banking Revenue 19.1% 4,232 18.6% Share of high QoQ NII growth quality core 3,555 73% banking revenue 20.6% in total* QoQ Net F&C growth 1Q21 2Q21 Total Revenue* – Revenue Breakdown (TL million) Dividend NII Dividend 0.2%
Slide 7: Above than guidance fee growth
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Above than guidance fee growth Net Fee & Commission Income Breakdown (TL million) 20.6% Inquiry & Inquiry & Insurance Insurance Expertise Expertise 12.6% 1,054 0.4% 9.0% Cash 0.4% Loans Other Cash 41.7% Loans Other 4.3% 4.8% 874 32.6% Payment P
Slide 8: Disciplined cost management
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Disciplined cost management Operating Expenses* (TL million) Breakdown of OPEX 11.5% 4,337 YoY Opex 3,890 growth below annual inflation 56% 60% 44% 40% 1Q21 2Q21 1H20 1H21 2.4% OPEX Breakdown (TL million) 8.6% 13.7% 2,188 2,149 2,136 1,806 1,66
Slide 9: Well-diversified & stable loan breakdown
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Well-diversified & stable loan breakdown Segment Breakdown of Loans (TL billion) Currency Breakdown of Loans (TL billion) Portfolio Breakdown (%) 448.3 458.9 448.3 458.9 422.0 23.5 25.9 422.0 SME 21.7 27.8 24.2 369.5 112.5 111.0 369.5 136.8 144
Slide 10: Breakdown of loan portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Breakdown of loan portfolio Sector Breakdown of Cash Loans Breakdown of FC Loans Breakdown of Project Finance Manufacturing Retail Loans 22% 19% Working Capital 23% Energy and Other Other Construction 28% 23% Other (inc, 10% business and retail
Slide 11: Covid related support loans
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Covid related support loans Retail Support Loans (million TL) Stage II NPL Covid-19 Related 24,995 4,099 2% 4% Deferral Loans’ 20,896 Payment Performance 44% 56% 89% 94% CGF Related Non-CGF Stage I 11% Originated Amount Collections Outstanding
Slide 12: Prudent coverage ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Prudent coverage ratios NPL (TL million)* Net Cost of Risk (bps) 1,179 727 17,426 375 16,974 Impact of NPL 247 278 recognition Gross day : 127 CoR ~+52 bps 243 NPL 1Q21 New NPL Collections NPL 2Q21 172 4.30 3.97 NPL Ratio (%)* 3.65 3.66 11 -24
Slide 13: Well-balanced deposit portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Well-balanced deposit portfolio Total Deposits (TL billion) Breakdown of Deposits Market 11.0% 12.0% 11.8% 11.2% Share 432.4 51% 49% 56% 414.0 430.3 44% 335.9 211.6 Sector 214.0 $ 24.4 198.9 $ 26.7 $ 26.0 TL Deposits FC Deposits 144.2 FC TL Dep
Slide 14: Well diversified external funding
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Well diversified external funding Breakdown of Wholesale Funding Local Bonds Other 4.4% 2.0% Eurobond A fresh DPR securitization 25.8% with an amount of 9.7% USD 1 billion 750 million AT I Issuance which is the largest DPR securitization issuan
Slide 15: Solvency ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Solvency ratios Capital Adequacy Ratio (%) 2Q21 CET I 12.58 12.04 11.59 10.90 10.52 Required CET1 level 8% 15.59 15.16 14.45 13.59 13.22 2Q21 Solvency ratios without forbearances Tier I Required Tier I level (% - 2Q21) 17.61 17.19 9.5% 16.44 15
Slide 16: Appendix
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Appendix Pg. 17 Sustainable banking approach Pg. 18 Improved efficiency with enhanced digital platforms Pg. 19 Composition of assets & liabilities Pg. 20 Well-positioned security portfolio Pg. 21 Retail Lending Portfolio Pg. 22 Diversified fund
Slide 17: Sustainable banking approach
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Sustainable banking approach Indices Initiatives Reporting & Certificates Funding 2014- 2019 Sustainability Reports, since 2019 Since 2014, in the Among the participants Integrated Report Multi-tranche facility BIST Sustainability of the UN Glo
Slide 18: Improved efficiency with enhanced digital platforms
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Improved efficiency with enhanced digital platforms Non-branch transaction share** ~92% Call Center # of active* digital banking ATM customers reached 1.1 20.9 5.6 million Mobile Banking 37.1 Branch 2Q21 8.5 # of transaction made Internet throu
Slide 19: Composition of asset&liabilities
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Composition of asset&liabilities Breakdown of Assets (%) TL/FC Mix in Total Assets Other 2Q21 12.4 Interbank 2.0 The share of IEA 59% 88% 41% 2Q21 Securities in total assets 22.7 Loans 62.9 TL FC Breakdown of Liabilities (%) TL/FC Mix in Total
Slide 20: Well-positioned security portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Well-positioned security portfolio Total Securities (TL million) Portfolio Structure 65.1% Breakdown of FC Securities 165,427 2Q21 Share of Fixed: 100% 155,276 146,510 60,664 Breakdown of TL Securities 58,717 6.5% 58,747 7% Share of Fixed:
Slide 21: Retail Lending Portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Retail Lending Portfolio General Purpose Consumer (TL billion) Residential Mortgages (TL billion) Credit Card Loans (TL million)* 7.1% 44.7% 51.2% ~%70 of GPC ~%30 of loans mortgages extended to extended to payroll clients 50.6 49.5 payroll cli
Slide 22: Diversified funding sources via non-deposit funding
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Diversified funding sources via non-deposit funding Syndication Eurobonds and Private Placements USD 2 billion outstanding USD 3.75 billion outstanding Eurobonds and USD 41.2 million Mar’20: USD 325 million bilateral loan with ICBC, 3 years m
Slide 23: Unconsolidated Key Financial Ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Unconsolidated Key Financial Ratios 1H20 2020 1Q21 2Q21 1H21 Profitability ROAE 16.9% 12.6% 6.4% 5.5% 6.0% ROAA 1.4% 0.9% 0.4% 0.4% 0.4% Cost / Income 26.9%* 30.7%* 32.7% 50.7% 39.8% Cost / Assets 1.4%* 1.2%* 1.2% 1.2% 1.2% Fee / Cost 45.4%* 42
Slide 24: Unconsolidated Balance Sheet
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Unconsolidated Balance Sheet 2Q20 1Q21 2Q21 TL USD (thousand) TL USD TL USD TL USD YoY QoQ YoY QoQ Cash & Balances with Central Bank 32,797,776 4,781,017 68,600,305 8,325,280 66,165,072 7,622,704 101.7% (3.5%) 59.4% (8.4%) Interbank 4,853,422 7
Slide 25: Unconsolidated Income Statement
INVESTOR RELATIONS Earnings Presentation Bank-Only 2Q21 Unconsolidated Income Statement (TL-thousand, %) 1H20 1Q21 2Q21 1H21 YoY QoQ Net Interest Income 10,375,056 2,680,324 3,178,154 5,858,478 (43.5%) 18.6% Net Fee & Com. Income 1,764,507 874,355 1,054,223 1,928,578 9.3% 20.6% Dividend Income 167,4
Slide 26: For Earnings Presentations: For VakıfBank IR
For Earnings For VakıfBank IR Presentations: Application: A member of BIST Sustainability Index Investor Relations Saray Mahallesi Dr. Adnan Buyukdeniz Cad. A1 Blok No: 7a Umraniye/Istanbul (Akyaka Park Mall) E-mail: investorrelations@vakifbank.com.tr Tel (90-216) 724 2685 Fax (90-216) 724 3941 www.
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