Eurobank S.A. · ATHEX:EUROB

Eurobank — EFG Eurobank Ergasias — Q1 2002 Earnings Presentation

17 slides from Eurobank's earnings presentation, 2002

  1. Slide 1: First Quarter 2002 Results

    EFG Bs) Eurobank Ergasias FIRST QUARTER 2002 - RESULTS

  2. Slide 2: Hosts and Table of Contents

    Hosts and Table of Contents First Quarter 2002 Mr Nicholas Nanopoulos, CEO • Financial Highlights Mrs Paula Hadjisotiriou, CFO • Financial Review 2

  3. Slide 3: 1Q 2002 - Financial Highlights (IAS)

    1Q 2002 - Financial Highlights (IAS) • Strong business volume growth, with: – growth of 32% in loans to € 11,359 m – deposits growth of 6.5% to €15,875 m – total assets growth of 18% to € 21,814 m Net Interest Income up 16% to € 168 m Core organic income up 11% to € 229 m Total operating income stab

  4. Slide 4: 1Q 2002 Financial Review

    1Q 2002 FINANCIAL REVIEW

  5. Slide 5: Loan growth continues

    Loan growth continues Loans (excl. Settlement Balances) In € mn 12.000 11.000 32% 10.000 9.000 8.000 11.359 7.000 8.631 6.000 5.000 4.000 1Q 2001 1Q 2002 5

  6. Slide 6: Loan mix: shift to retail banking continues

    Loan mix: shift to retail banking continues Loan mix (% of total) 1Q 2001 2001 1Q 2002 100% Wholesale: 57 % 90% Wholesale: 61 % 80% 70% 59% 57% 61% 60% 50% 40% 8% 7% +53% Retail: 43 % 7% Retail: 39 % 30% 15% 16% 15% +39% 20% 10% 17% 19% 19% +50% 0% SBLs Mortgages Consumer Corporates % y.o.y. growth

  7. Slide 7: High asset quality maintained despite robust loan growth

    High asset quality maintained despite robust loan growth – Quality maintained with NPLs at 3.8% of total loans (organic NPLs below 3%) – NPL coverage remains high above 80%. 5,0% 4,5% 4,0% 3,5% 1.4% 1.0% 1.0% 3,0% Organic NPL’s: 2,5% Retail loans: 0.8% - 4.1% 2,0% (avg. 2.2%) 2.8% 2.8% 2.8% 1,5% Who

  8. Slide 8: AUM up 3.6% despite ASE drop

    AUM up 3.6% despite ASE drop Total Assets Under Management up 3.6% (y.o.y) to € 22 bn Assets under Management In € mn 25.000 22,030 21,269 20.000 5.220 6.370 15.000 3.835 4.519 10.000 12.975 5.000 10.380 0 1Q 2001 1Q 2002 Other liquid funds Repos Long-term investments 8

  9. Slide 9: Net Interest Income grew by 16% with strong NIM at 3.2%

    Net Interest Income grew by 16% with strong NIM at 3.2% In € mn % NIM 3.28% 180 3.24% 3,2 170 y y.o. t h 168 160 ow Gr 2,9 % 16 150 140 145 2,6 130 120 2,3 110 100 2 1Q 2001 1Q 2002 Net Interest Income NIM 9

  10. Slide 10: Stable Commission and Fee Income despite adverse market conditions

    Stable Commission and Fee Income despite adverse market conditions Composition of Commission and Fee Income In € mn 70 62 61 60 14 17 50 40 9 9 30 13 8 20 25 27 10 0 1Q 2001 1Q 2002 Lending activities Mutual Funds and AUM Capital Markets Other services ASE-related commissions now at 10% of total 10

  11. Slide 11: Other non-interest income contracting, due to one-off gains

    Other non-interest income contracting, due to one-off gains In € mn 44 22 30 22 25 20 13 15 22 22 10 22 15 5 0 -3 -5 -8,4 -10 1Q 2001 1Q 2002 Equities Bonds F/X and Derivatives Dividend One-off real estate gains 11

  12. Slide 12: Operating Income stable, with organic revenues growing strong

    Operating Income stable, with organic revenues growing strong In € mn 250 251 240 22 43 200 61 91 % of total income 83 % of total income 160 62 120 80 168 145 40 0 1Q 2001 1Q 2002 Net Interest Income Fees and Commissions Other income 12

  13. Slide 13: Visible containment of cost expansion

    Visible containment of cost expansion Cost and Cost to Average Assets Evolution 1Q 2001 - 1Q 2002 Cost In € mn % Cost to Avg. Telesis Assets Impact 3,2 180 3.01% 3 2.75% 2.75% 2,8 2.71% 161 2.68% 150 2,6 139 134 131 2,4 120 121 2,2 90 2 1Q 2001 2Q 2001 3Q 2001 4Q 2001 1Q 2002 Cost Cost to Avg. Asset

  14. Slide 14: Net profits sustained, based on core banking activities

    Net profits sustained, based on core banking activities Group Net Profit Evolution 1Q 2001 - 1Q 2002 In € m 90 80 22* 86 70 60 67 50 64 40 30 20 10 0 1Q 2001 1Q 2002 * € 22 m One-off real estate gains 14

  15. Slide 15: 1Q 2002 - Financial Highlights (IAS)

    1Q 2002 - Financial Highlights (IAS) • Net Interest Income up 16% to €168m, generated mainly from loans • Net interest Margin above 3% • Commissions stable at € 61m, despite adverse market conditions • Cost / Income ratio at 55.3% • Group Net Profit at €67 m – 91% of total operating revenues generat

  16. Slide 16: Our medium-term goals

    Our medium-term goals 2001 1Q 2002 2004 Target Net interest margin 3.4% 3.2% > 3% Commissions 26.2% 24.4% ~ 35% (% of operating income) Cost-to-income 58.1% 55.3% < 50% Capital Adequacy 15.2% 14.1% 7- 8% (Tier 1 only) Optimisation of Return on average Equity to a sustainable 15% 16

  17. Slide 17: Investor Relations Contacts

    Investor Relations Contacts EFG Eurobank Ergasias 8, Othonos Str, GR 105 57 Athens Tel.: +30-10-333-7688 Fax:+30-10-333-7150 investor_relations@eurobank.gr Internet: www.eurobank.gr Reuters: EFGr.AT Bloomberg: EUROB GA Datastream: G:EFG 17

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