Banco Davivienda SA · BVC:PFDAVVNDA
Banco Davivienda SA — Q1 2015 Earnings Presentation
24 slides from Banco Davivienda SA's earnings presentation, May 2015
Slide 1: Earnings Presentation 1Q15 Consolidated Results
Earnings Presentation 1Q15 Consolidated Results
Slide 2: Disclaimer
The information presented here is exclusively for informative and illustrative purposes. It is not, nor does it pretend to be a source of legal or financial consultation regarding any issue. The financial information and projections presented are based on information and calculations carried out int
Slide 3: Content
Content First Quarter Highlights First Quarter 2015 Financial Results IFRS Implementation 3
Slide 4: First Quarter Highlights
First Quarter Highlights
Slide 5: Main Results
First Quarter Highlights Main Results Net financial margin grew by 22.5% compared to 1Q14 to COP 815.3 billion. Income before taxes grew by 9.7% during the quarter compared to same period in 2014, totaling COP 413.8 billion. Net income grew by 1% year over year to COP 302 billion. Net loans portfoli
Slide 6: Consumer Loans
First Quarter Highlights Consumer Loans Consumer loans portfolio grew 24.1% compared to 1Q14, which represents an increase in balance of COP 2.8 trillion. Mortgage loan portfolio grew a strong 20.4% compared to 1Q14. Credit card usage in Colombia increased by COP 225.9 billion during 1Q15, an increa
Slide 7: Commercial Loans
First Quarter Highlights Commercial Loans Commercial loans portfolio grew 28.3% compared to 1Q14 in COP 6.2 trillion. Corporate loans segment maintained a strong annual growth of 21.5%. Construction loans balance grew by 22.1% compared to the same quarter in 2014. Disbursements to SMEs increased in
Slide 8: International Subsidiaries Results
First Quarter Highlights International Subsidiaries Results(1) Net income in the international subsidiaries grew 50.3% compared to the same quarter in 2014 and 6.2% compared to 4Q14 up to USD 22.3 million2. Return on Equity of the international subsidiaries closed at 10.2%. Asset(3) 1Q15 / 4Q14: 5.1
Slide 9: Tax Reform
First Quarter Highlights Tax Reform In December 2014 was approved the wealth tax. The rates for years 2015 to 2017 will be 1.15%, 1.0% and 0.4% of the liquid equity, respectively. The payment of the wealth tax by COP 61 billion was recognized against the occasional reserves, motion approved by the G
Slide 10: IFRS Convergence
First Quarter Highlights IFRS Convergence From 2015 IFRS accountability standards were implemented. The main changes in comparison to COLGAAP for December 31st 2014 statements are: The asset increased by COP 609 billion under IFRS in the consolidated Balance Sheet at December 31st, 2014. The liabili
Slide 11: Other Highlights
First Quarter Highlights Other Highlights General Assembly of Shareholders: Dividend payment in cash by COP 350 billion, COP 788/share. The assembly decided to increase core capital by COP 930 billion through a stock dividend of COP 753 billion and reorganizing of equity of COP 177 billion. Local De
Slide 12: First Quarter 2015 Financial Results
First Quarter 2015 Financial Results
Slide 13: Assets
Consolidated Assets (COP trillion) 73.0 68.1 Consolidated 59.3 1Q15 / 4Q14 1Q15 / 1Q14 Cash 29.6% 33.2% Investments, net 8.6% 11.5% Loans, net 4.9% 25.6% Other assets 1.5% 4.0% Assets 7.2% 23.0% Asset Mar.14 Dec.14 Mar.15 1Q15 / 4Q14 1Q15 / 1Q14 Colombia 47.8 52.9 55.6 5.0% 16.2% International COP$
Slide 14: Gross Loans
Consolidated Gross Loans (COP trillion) Consolidated 1Q15 / 4Q14 1Q15 / 1Q14 Mortgage 5.8% 20.4% Consumer 3.9% 24.1% Commercial (1) 5.2% 28.3% Gross Loans 5.0% 25.4% Gross Loans Mar.14 Dec.14 Mar.15 1Q15 / 4Q14 1Q15 / 1Q14 Colombia 35.7 41.4 42.8 3.3% 19.8% International COP$ 7.5 10.2 11.4 11.9% 51.
Slide 15: Quality and Coverage (%)
Consolidated Quality and Coverage (%) Total Commercial(1) Quality: Loans >90 days. Coverage: Allowances / Loans >90 days. 15 1 Commercial includes microcredit.
Slide 16: Quality and Coverage (%)
Consolidated Quality and Coverage (%) Consumer Mortgage Quality: Loans >90 days. Coverage: Allowances / Loans >90 days. 16
Slide 17: Funding Sources
Consolidated Funding Sources (COP trillion) Consolidated 1Q15 / 4Q14 1Q15 / 1Q14 Demand Deposits 8.3% 15.2% Term Deposits 5.3% 23.7% Bonds 3.5% 27.6% Credits 14.3% 41.8% Funding Sources 7.4% 21.4% Net Loans / Funding Sources 83.3% 88.2% 86.2% Funding Sources Mar.14 Dec.14 Mar.15 1Q15 / 4Q14 1Q15 / 1
Slide 18: Capital Structure
Consolidated Capital Structure Solvency Equity Mar.14 Dec.14 Mar.15 1Q15 / 4Q14 1Q15 / 1Q14 (COP billion) 6,474 7,462 7,486 0.3% 15.6% Increase in Capitalization (COP billion) capital: Movement (b.p.) TIER 1 Increase of Legal $176.772 30 Reserve TIER 1 Stock Dividend $752.943 120 payment TIER 1 Tota
Slide 19: Financial Margin, Net
Consolidated Financial Margin, Net (COP billion) 1Q15 1Q15 / 4Q14 1Q15 / 1Q14 $ (%) (%) Loan Income 1,413 8.7 24.9 Investment Income, Overnight 155 51.1 23.9 Financial Income 1,569 11.8 24.8 Financial Expenses -501 7.4 35.9 Allowances -252 41.9 13.3 Financial Margin, net 815 7.5 22.5 1Q15 / Financia
Slide 20: Expenses
Consolidated Expenses (COP billion) 1Q15 1Q15 / 4Q14 1Q15 / 1Q14 $ (%) (%) Personnel Expenses 264 3.5 19.5 Operating Expenses 293 -15.0 15.0 (1) Other Expenses 96 11.6 29.3 Total Expenses 653 -4.8 18.7 1Q15 / 1Q15 / Expenses 1Q14 4Q14 1Q15 4Q14 1Q14 Colombia 407 532 459 -13.6% 12.8% International CO
Slide 21: Net Income
Consolidated Net Income (COP billion) 1Q15 1Q15 / 1Q14 $ % Financial Margin, net 815 22,5 Commisions 294 1,9 Operating Expenses -653 18,7 (1) Other -43 56,7 Income before taxes 413 9,7 Taxes -111 43,8 (2) 302 1 Net Income ROAE(3) 12.9% ROAA(4) 1.40% 1. Other includes: net changes and derivatives and
Slide 22: IFRS Convergence
IFRS Convergence
Slide 23: Main Differences COLGAAP vs. IFRS
Main Differences COLGAAP vs. IFRS As of December 2014 Assets increased by COP 609 billion (+0.9%) mainly due to: Lower value of allowances for changing model to incurred losses by COP 602 billion. Liabilities grew by COP 124 billion (+0.2%) mainly due to: Deferred tax liability by COP 443 billion. E
Slide 24: Thank You!
Thank You! atencionainversionistas@davivienda.com +57 1 2203495