Ascory Bank AG · XETR:VG80
Ascory Bank — Varengold Bank — Shareholder Meeting (November 2020)
25 slides from Ascory Bank's shareholder meeting presentation, Nov 25, 2020
Slide 1: Annual General Meeting 2020
ANNUAL GENERAL MEETING 2020 NOVEMBER 25, 2020
Slide 2: Mission
MISSION WE REGARD IT AS OUR JOB TO GIVE PEOPLE ACCESS TO CAPITAL AND BAN KING SERVICES IN AN UNCOMPLICATED FASHION AND FAST. THAT IS WHY WE FINANCE MARKET PLACES AND SUPPORT THEM SO THEY CAN GROW QUICKLY AND SUCCESSFULLY. FRANK OTTEN, BOARD OF DIRECTORS ON THE RESPONSIBILITIES OF BANKS AND VARENGOLD
Slide 3: Targets for 2019
TARGETS FOR 2019 FINANCIAL TARGETS FOR 2019 OVERFULFILLED, ALL OTHER OBJECTIVES MET ✓ Profit before tax (EBT) between 2.8 Mio and 3.2 million € ✓ Continuation of digitalization measures ✓ Expansion of the customer base in commercial banking (CB) and market place banking (MPB) ✓ Increased head count
Slide 4: Marketplace Banking 2019
MARKETPLACE BANKING 2019 CONTINUATION OF STRATEGY IMPLEMENTATION AND CONTINUED GROWTH ▪ Extension of existing business relationships and acquisition of new customers in the lending sector ➢ New entry into the ‚mobility‘ industry ▪ Growth ambitions satisfied: A total of 250 million € for Grover after
Slide 5: Commercial Banking 2019
COMMERCIAL BANKING 2019 STEADY EXPANSION OF OUR CORE BUSINESS IN TRADE FINANCE UND TRANSACTION SERVICES ▪ Strong payment transaction business thanks to solid customer base and the acquisition of new customers ▪ Focussing on fully collateralised loan business ▪ Consistent expansion of our trade finan
Slide 6: Profit and Loss Account 2019
PROFIT AND LOSS ACCOUNT 2019 SUCCESSFUL DEVELOPMENT IN 2019 RESULT OF ORDINARY BUSINESS ACTIVITIES INCREASED BY 57 PER CENT Breakdown of the items of the profit and loss account (kEuro) 2019 2018 Trend Januar 1 – Dezember 31 Januar 1– Dezember 31 % Interest income 6,559 6,369 +3 Current income from
Slide 7: Balance Sheet 2019
BALANCE SHEET 2019 INCREASED CREDIT WITH THE GERMAN CENTRAL BANK THROUGH STRONG PAYMENT TRANSACTION BUSINESS AND, AS A RESULT, INCREASED AMOUNTS OWED TO CUSTOMERS Balance sheet breakdown (kEuro) 2019 2018 Trend Dezember 31 Dezember 31 % Receivables Credit with the German Central Bank (Deutsche Bunde
Slide 8: Capital 2019
CAPITAL 2019 REGULATORY CAPITAL REQUIREMENT STRENGTHENED THROUGH CAPITAL INCR EASE AT THE BEGINNING OF 2019 Key figures (kEuro) 2019 2018 Trend Dezember 31 Dezember 31 % Regulatory capital requirement (group) Liable equity 37,920 25,373 +49 Risk-weighted assets 233,203 200,138 +17 Total equity ratio
Slide 9: Varengold Share Price
VARENGOLD SHARE PRICE SIDEWAYS DEVELOPMENT OF SHARE PRICE CONTINUES EUR Volume 20 600.000 Development 2019 18 ▪ Average price 3.71 € (2018: 3.22 €) 500.000 16 ▪ Average volume of trade: 3,575 shares (2018: 17,653 shares) 14 400.000 → Same period in 2018 characterised by high 12 trading volume on a f
Slide 10: Highlights 2020 (YTD)
HIGHLIGHTS 2020 (YTD) EBT 28 % above Smooth Accreditation same period of operations Fronting Services with KfW-Bank previous year despite expanded & Corona Fast despite pandemic thanks Loan Scheme Covid 19 to digitalisation Climate Top 5 Fintech 25 Years of neutrality Financing Deal in Varengold ach
Slide 11: Marketplace Banking 2020
MARKETPLACE BANKING 2020 CONTINUED IMPLEMENTATION OF STRATEGY AND GROWTH ▪ Accreditation with KfW as principal bank attained ▪ Internal process optimisation for more efficient and faster execution ▪ Enlarged staff team EXAMPLES OF TRANSACTIONS: ▪ Kapilendo: Providing German medium sized companies wi
Slide 12: Commercial Banking 2020
COMMERCIAL BANKING 2020 SIGNIFICANT GAINS ACROSS ALL SEGMENTS ▪ Expansion of payment transaction business thanks to steady acquisition of new customers ▪ Commission business continues to be lucrative, among other things because of long term custormer relationships ▪ Credit risks reduced and reinforc
Slide 13: Profit and Loss Account as of September 2020
PROFIT AND LOSS ACCOUNT AS OF SEPTEMBER 2020 INCOME FROM ORDINARY OPERATIONS UP 33% ON PREVIOUS YEAR DESPITE HIGHER DEPRECIATIONS AND VALUE ADJUSTMENTS Breakdown of profit and loss account (kEuro) 2020 2019 Trend Jan 1 – Sep 30 Jan 1 – Sep 30 % Interest income 5,523 5,176 +7 Current income from shar
Slide 14: Balance Sheet as of September 2020
BALACE SHEET AS OF SEPTEMBER 2020 SLIGHT REDUCTION OF LENDING BUSINESS DUE TO COVID 19 Breakdown of balance sheet (kEuro) 2020 2019 Trend September 30 Dezember 31 % Receivables Credit with the German Central Bank (Deutschen Bundesbank) 365,513 261,367 +40 Credit with other banks 25,543 26,818 -5 Cre
Slide 15: Capital September 2020
CAPITAL SEPTEMBER 2020 REGULATORY CAPITAL REQUIREMENT FURTHER STRENGTHENED THROUGH CAPI TAL INCREASE Key figures (kEuro) 2020 2019 Trend September 30 Dezember 31 % Regulatory Capital (group) Liable equity capital 43,029 37,920 +14 Risk-weighted assets 229,484 233,203 -2 Total equity ratio 18,75% 16,
Slide 16: Capital Increase 2020
CAPITAL INCREASE 2020 CASH CAPITAL INCREASE EXCLUDING THE SUBSCRIPTION RIGHTS OF EXISTING SHAREHOLDERS ▪ Issue of 727,381 no-par value shares ▪ Increase of the capital stock from € 9,315,634,00 to € 10,043,015,00 ▪ Issue price 3,85 € per share ▪ Commercial register entry: February 17, 2020 ▪ Regulat
Slide 17: Covid-19 Pandemic 2020
COVID19-PANDEMIC 2020 VARENGOLD HAS WEATHERED THE CRISIS THANKS TO EARLY DIGITALISATION AND AN IMPROVED EARNINGS SITUATION ▪ No operational disruption thanks to early digitalisation ▪ Restraint in approving loans during the Covid 19 crisis – this is why our lending business is below plan ▪ Completio
Slide 18: Digitalisation
DIGITALISATION DIGITAL TRANSFORMATION OF VARENGOLD BANK STRENGTHENED DocuSign eSignature: Electronic signing of internal and external documents DocuSign CLM: Contract Lifecycle Management Tool for the creation of digitized and automated processes and the automated archiving of documents Microsoft Te
Slide 19: Communications
COMMUNICATIONS SIGNIFICANTLY IMPROVED BRAND AWARENESS IN 2019 AND 2020: ▪ 16 press releases ▪ 100+ media reports internationally ▪ P2P Finance News „Company of Influence“ 2020 ▪ P2P Finance News „Power 50“ Ranking & 2 Nominations of Head of London Branch for Credit Strategy Award ▪ 4 TV-Interviews ▪
Slide 20: Sustainability & CSR
SUSTAINABILITY & CSR (CORPORATE SOCIAL RESPONSIBILITY) INITIATIVE "VARENGOLD CARES" ▪ Establishment of a sustainability team ▪ Achievement of climate neutrality through full compensation of of CO²-emissions (certified by TÜV Nord) ▪ Promotion of the climate protection projet ‚Efficient cookstoves in
Slide 21: Outlook
OUTLOOK Growing the Continuing to Driving business & pursue and Implementing digitalisation & managing extend New Work process COVID-19- sustainability Initiative optimisation related risks thinking Segment trade Expansion of the Introducing finance loan book & of digitally covered continues to fron
Slide 22: Outlook
OUTLOOK THE CURRENT SECOND WAVE OF THE COVID19 PANDEMIC IS HAVING AN IMP ACT ON SOCIETY AND THE ECONOMY, YET AGAIN, OUR DEVELOPMENT SO FAR AND T HE CONTINUING EXPANSION OF OUR BUSINESS ARE DEMONSTRATING THAT THE VARENGOLD BUSINESS MODEL IS FUTUREPROOF. WE ARE OPTIMISTIC AND OPERATIONALLY WELL- POSIT
Slide 23: Agenda
AGENDA 01 Presentation of the approved annual financial statement and the management report of Varengold Bank AG as of Dezember 31, 2019, and of the supervisory board report for the business year 2019 02 Resolution on the formal approval of the actions of the members of the Board of Directors for th
Slide 24: Disclaimer
DISCLAIMER This document has been prepared by Varengold Bank AG and is intended for information purposes only. It does not constitute an offer, invitation or inducement to engage in investment activity. The products and services described in this document are subject to legal and regulatory requirem
Slide 25: Varengold Bank AG
VARENGOLD BANK AG GROSSE ELBSTRASSE 14 22767 HAMBURG +49 40 66 86 49 0 INFO@VARENGOLD.DE WWW.VARENGOLD.DE