Slide 1: TISCO Group Analyst Meeting April 2005
TISCO Group Analyst Meeting April 2005
Slide 2: Disclaimer
Disclaimer This presentation contains public information, which has been prepared by TISCO Finance Public Company Limited ("TISCO" or the "Company") for the purpose of a presentation to analysts and selected investors. Information contained in this presentation is not intended to provide basis for a
Slide 3: Shareholding Structure
Shareholding Structure CDIB & Bankers The Partners International Stock Investment Corporation Exchange Holding 5% of Thailand Corporation 10% Thai NVDR Co.,Ltd. 13% 10% Foreign Sathinee Co., Ltd. shareholders 5% 28% Domestic shareholders 29% As of April 5, 2005 3
Slide 4: Thai Economic Outlook
Thai Economic Outlook (% Growth Y-O-Y) 2002 2003 2004 2005E GDP 5.4 6.9 6.1 5.4 Export 18.5 22.7 13.6 Import 17.1 27.2 15.5 Automobile Sales 32.5 32.8 17.3 6.2 (2M) z In the first quarter of 2005, the overall Thai economy showed a slight slowdown due to the rising oil price, the drought in many area
Slide 5: Financial Performance 1Q05
Financial Performance 1Q05 • Strong loan growth mainly from consolidated (Bt mn) 2003 2004 1Q05 Balance Sheet Retail Finance in 1Q05 due to an Retail Loan 31,700 40,971 42,978 increase in HP loan portfolio. Corporate Loan 9,668 10,924 10,947 Total 41,368 51,895 53,925 % Growth 25.4 3.9 • Net interes
Slide 6: Key Financial Ratios
Key Financial Ratios Spread & NIM (%) ROA (%) 5 4 3.5 3.5 10 3.0 9 3 2.4 7.9 8 7.3 2 6.9 6.5 7 1 6 4.6 4.9 4.6 5 4.6 0 4 4.4 4.7 2002 2003 2004 1Q05 4.4 4.3 3 2 3.2 2.9 2.3 2.3 ROE (%) 1 0 30 2002 2003 2004* 1Q05* 20.4 19.1 20 15.9 16.8 Spread NIM Yield Cost 10 0 2002 2003 2004 1Q05 Remark: * The ca
Slide 7: Loan Growth
Loan Growth Btmn 2003 2004 1Q05 YTD Growth Corporate Loan 9,668 10,924 10,947 0.2 Manufacturing & Commerce 4,904 5,525 5,641 2.1 Real estate & construction 2,579 3,500 3,529 0.8 Public utilities & services 2,072 1,744 1,617 (7.3) Agricultural and mining 113 154 161 4.3 Retail Loan 31,700 40,971 42,9
Slide 8: Loans and receivables breakdown
Loans and receivables breakdown 59,706 56,985 60,000 1,792 40% 1,225 48,992 10,947 50,000 10,924 40,826 3,428 30% 40,000 1,100 9,667 25.6% Baht Million 9,372 22.4% 30,000 20% 15.2% 46,967 44,836 20,000 9.7% 35,897 30,165 10% 5.8% 10,000 7.0% 5.8% 3.9% 0 0% 2002 2003* 2004* 1Q05* Retail Lending Corpo
Slide 9: Loan Loss Provision
Loan Loss Provision Non-Performing Loan & Allowance for Doubtful Accounts 10,000 135% 160% 130% 122% 123% 140% 8,000 120% B a h t M illio n 6,000 100% 4,246 3,846 4,703 4,600 4,288 80% 3,446 (9.7%) 3,410 3,304 4,000 (7.0%) (5.8%) (5.8%) 60% 40% 2,000 20% 0 0% 2002 2003 2004 1Q05 NPL Allowance Allowa
Slide 10: Interest and Dividend Income
Interest and Dividend Income 1,200 779 67% 606 709 54% 677 48% 594 56% 35% 1,000 8% 1% 7% 5% 4% 6% 800 600 48% 62% 46% 64% Baht Million 71% 400 200 18% 11% 12% 13% 14% 0 -19% -22% -25% -16% -23% -200 -5% -8% -7% -5% -400 -600 1Q04 2Q04 3Q04 4Q04 1Q05 Loans and deposits Hire Purchase and finance leas
Slide 11: Non Interest Income
Non Interest Income 1,141 65% 1,200 1,000 725 52% 31% 800 592 46% Baht Million 16% 600 475 44% 389 33% 7% 10% 11% 7% 1% 400 1% 4% 11% 14% 13% 15% 4% 5% 200 5% 5% 23% 17% 17% 12% 16% 0 -2% -2% -200 1Q04 2Q04 3Q04 4Q04 1Q05 Brokerage Fees Asset Management Fee Fee from Fin. Bus., SAM & Others Investmen
Slide 12: Operating Expenses
Operating Expenses 800 771 44% 633 54% 639 60% 625 603 43% 48% 600 20% B a h t M illio n 27% 19% 27% 21% 400 13% 15% 15% 10% 12% 200 15% 17% 12% 14% 12% 0 1Q04 2Q04 3Q04 4Q04 1Q05 Direct Expenses Non-Personnel Expenses Personnel Expenses 1Q05 Operating expenses increased by 3.6% Y-o-Y 12 Remark: The
Slide 13: Hire Purchase Business
Hire Purchase Business Industry New Car Sales & TISCO Market share 700 625 12% 600 10% Number of cars (Thousands) 533 8.0% 500 Penetration Rate(%) 7.6% 8% 404 400 6.6% 6.6% 6% 300 4% 200 99 100 2% 0 0% 2002 2003 2004 2M05 Total Car Sales Penetration Rate As of March 31, 2005, Hire Purchase Portfolio
Slide 14: Hire Purchase Business
Hire Purchase Business Car HP New Loans and Repayment 10,000 18,000 15,475 14,633 13,091 13,315 15,000 8,000 12,619 6,919 6,628 6,059 6,156 12,000 5,842 6,000 Baht million Units (Thousand) 4,614 9,000 4,207 4,338 3,800 3,971 4,000 6,000 2,000 3,000 0 0 1Q04 2Q04 3Q04 4Q04 1Q05 New business Car HP (B
Slide 15: Local Brokerage Business
Local Brokerage Business Market Turnover & TISCO Brokerage Volume & TISCO Market share Brokerage Fee 25,000 5% 400,000 1000 353,950 3.93% 21,267 Daily Average Turnover (Baht Million) 20,564 314,112 855 20,000 18,908 Brokerage Volume (Baht Million) 800 4% 759 Brokerage Fee (Baht Million) 300,000 3.52
Slide 16: Asset Management Business
Asset Management Business Market* Asset Under Management T o ta l N e t A sse t V a lu e (B a ht M illio n) 1,200,000 80,000 7.4% 8.0% 67,704 72,594 977,060 6.7% 1,000,000 924,545 70,000 7.0% 7.5% 846,964 7.3% 56,459 60,000 6.0% 800,000 Total Net Asset Value 26% 53% 27% M a rke t Sha re (% ) 52% (Ba
Slide 17: Active Assets & Liabilities Management
Active Assets & Liabilities Management Asset Mix Liabilities Mix 120% 120% 100% Other assets 100% Other Liabilities 80% Equity 80% Debentures 60% Fixed-income 60% Allowance Borrowings and 40% 61% 62% 40% deposits Other Loans 80% 83% 20% Retail Loans 20% 0% Mar05 Dec04 0% -20% Mar05 Dec04 Portfolio M
Slide 18: Risk - Based Capital Adequacy
Risk - Based Capital Adequacy Operational Risk Wholesale Lending Operational Risk Wholesale Lending Reserve Reserve 6% 7% Retail Lending 10% 9% 38% Retail Lending Property Property 37% 4% 4% Non-listed Equity Non-listed Equity 4% 4% Derivatives 0% Derivatives Listed Equity Listed Equity Banking Book
Slide 19: Interest Rate Risk
Interest Rate Risk 1.4 1.22 Current Profile 1.18 1.2 • Interest rate gap slightly 1 reduced contributed by longer maturity in funding profiles and increase in short-term asset 0.8 0.74 0.72 proportion. 0.6 0.4 0.2 0 1Q05 2004 Assets Liabilities 19
Slide 20: TISCO in 2005
TISCO in 2005 z Dividend payout TISCO-P 2.30 baht/share, 8% yield TISCO-C 1.30 baht/share, 5% yield z Resume corporate tax payment Tax rate: 25% for the first Bt300mn of net profit 30% for the above Bt300mn z Commencement Banking Business in 2H05 • Conditions for bank upgrade concerning operating pr
Slide 21: Bank upgrade project
Bank upgrade project z Investment – Initial investment of Bt165mn – Expected expense per year of Bt90mn z New Group Structure – Holding company – New business platform, while maintain boutique z Business Strategy – Customer Centric – Maintain niche market z Benefit from being TISCO Bank – Provide fu
Slide 22: www.tisco.co.th
www.tisco.co.th IR team Pattamika Pongsurayamas Tel. 0-2633 6897 Tip-arpa Choemchitphong Tel. 0-2633-6811 Saowarin Srithaweeporn Tel. 0-2633-6899 Email: ir@tisco.co.th