Tisco Financial Group Public Co. Ltd. · SET:TISCO
Tisco Financial Group Public — Q1 2009 Earnings Presentation
28 slides from Tisco Financial Group Public's earnings presentation, 2009
Slide 1: TISCO Financial Group Analyst Meeting 1Q/2009
TISCO Financial Group Public Co., Ltd. Analyst Meeting 1Q/2009 Disclaimer: This presentation material may contain forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the
Slide 2: Agenda
Agenda I. Shareholders & Dividends II. Operational Updates III. Financial Performance 1Q/2009 2
Slide 3: TISCO's Shareholders
TISCO’s Shareholders Shareholders’ Structure (as of 10 Mar 09) Total shares 724,606,405 Foreign, Ordinary shares 541,179,179 41.7% Preferred shares 183,427,226 Local, 53.7% No. of shareholders 7,438 Foreign shareholders 109 NVDR, Local shareholders 7,329 4.6% Top Ten Shareholders (as of 10 Mar 09) 1
Slide 4: Dividends
Dividends Annual Dividend Special Dividend Ordinary shares 1.00 Baht/share Ordinary shares 0.50 Baht/share Preferred shares 2.00 Baht/share Preferred shares 1.00 Baht/share Dividend Dividend AGM XD Payment XD Payment 24 Apr 6 May 22 May 29 Jun 13 Jul (XD Sign : 29 Apr - 4 May) (XD Sign : 24 - 26 Jun
Slide 5: Agenda
Agenda I. Shareholders & Dividends II. Operational Updates III. Financial Performance 1Q/2009 5
Slide 6: New Products and Services
New Products and Services - TISCO’s Subordinated Debenture, 2 billion Baht - TISCO Cash M Savings - TISCO Friend-get-Friends - TISCO Special Plus Fund #6, #7, #8, #9, #10 - TISCO Asia Pacific ex Japan Trigger 15% Fund #3 - TISCO Oil Fund - FA & Selling Agent for bonds of TISCO, TTW, PTT - TISCO Weal
Slide 7: Awards & Recognitions 2009
Awards & Recognitions 2009 "...ผมขอถือโอกาสนี้ ใหคํามั่นสัญญาตอ Stakeholder ทุกทานวา ทิสโก จะยังคง มุงมั่นพัฒนา โดยยึดมั่นในหลักธรรมาภิบาลที่เราใหความสําคัญตลอดระยะเวลา 40 ปแหงการดําเนินงาน เพื่อความเจริญกาวหนาอยางมั่งคงและยั่งยืน ภายใตคํา ขวัญ "ทิสโก สรางสรรคอยางมั่นคง" คุณปลิว มัง
Slide 8: Awards & Recognitions 2009
Awards & Recognitions 2009 Hewitt Best Employers in Thailand 2009 Runner up, Overall Best Research House - Institutional At Securities Analyst Awards 2008 By The Securities Analysts Association (SAA) & Money and Wealth Magazine 2009 Financial Insights Innovation Awards (FIIA) For “TISCO Purse” produ
Slide 9: Employee & New Branches 1Q/2009
Employee & New Branches 1Q/2009 1Q08 4Q08 1Q09 No. of Employee 2,347 2,662 2,794 No. of Branch 27 34 36 - Bangkok * 8 12 14 - Upcountry 19 22 22 * Including Head Office branch Yaowarat branch opened 21 Apr 2009 New Branch #34 - “Ratchadapisek - Huay Khang” New Branch #35 - “Seacon Square” 9
Slide 10: Agenda
Agenda I. Company Overview II. Operational Updates III.Financial Performance 1Q/2009 10
Slide 11: Balance Sheet
Balance Sheet Assets Mix Liabilities Mix Unit: Million Baht Unit: Million Baht 3.4% YTD 3.4% YTD 98,953 126,173 130,467 86,579 114,637 118,570 Other assets Other Liabilities Interbank & MM Investment LT Borrowings 65% 63% 62% Other Retail Loans Interbank 79% 88% 87% Hire Purchase Deposits & ST Corpo
Slide 12: Loan Portfolio
Loan Portfolio Strong Loan Growth 1Q09 Loan Breakdown by Industry Unit: Million Baht 9.2% YTD Others Manufacture & 4% commerce Real estate & 107,727 112,604 9% construction 103,109 8% Housing 90,261 2% Other Loans Public utilities & services 73.2% 74.4% 3% 76.6% 74.8% Hire Purchase Agricultural & mi
Slide 13: Hire Purchase Business
Hire Purchase Business Industry New Car Sales % Change (YoY) 100% 50% 0% Passenger -23% Total -38% -50% Pick-up -47% -100% Jun-08 Jul-08 Mar-08 Apr-08 May-08 Aug-08 Jan-09 Sep-08 Oct-08 Nov-08 Mar-09 Dec-08 Feb-09 TISCO New Business Car Hire Purchase TISCO Penetration Rate Amount (million Baht) No.
Slide 14: Hire Purchase Portfolio
Hire Purchase Portfolio Hire Purchase Portfolio Breakdown by New & Used Cars % Outstanding 2007 2008 1Q09 New car 82.7 81.0 80.9 Used car 17.3 19.0 19.1 Running rate (%) 20.2 21.3 20.5 (Used car: Total new HP) Hire Purchase Portfolio Breakdown by Locations 3.7% 2.7% 2.4% 36.0% 37.0% 40.7% 59.0% 59.9
Slide 15: Deposits and ST Borrowings
Deposits and ST Borrowings Deposits & ST Borrowings Breakdown Unit: Million Baht 2.0% YTD 100,591 102,641 11.5% 15.8% 68,459 6.2% 47.0% 46.4% Current & Savings 46.0% Fixed Deposits 41.5% 37.8% 47.8% ST Borrowings 2007 2008 1Q09 Unit: Million Baht 2007 2008 1Q09 %YTD As of 31 Mar 09 Accounts % MB % C
Slide 16: Asset Management Business
Asset Management Business Market NAV TISCO Asset Under Management Unit: Billion Baht Unit: Billion Baht 12.5% YTD 2.3% YTD 2,228 Rank #8 1,992 2,037 107.7 107.0 9% 14% 93.6 72% 68% 70% Mutual Fund 16% Mutual Fund 29% 28% 27% Private Fund Private Fund 8% 8% 7% 63% 58% Provident Fund 57% 20% 23% 23% P
Slide 17: Brokerage Business
Brokerage Business Average Daily Trading Volume Unit: Million Baht 19,959 18,846 17,097 15,944 12,212 12,612 Market 8,653 1,104 1,048 845 861 760 669 TISCO 424 2007 2008 1Q08 2Q08 3Q08 4Q08 1Q09 TISCO - Brokerage Value & Market Share Unit: Million Baht Brokerage Value Market Share 3.0% 3.0% 2.64% 2.
Slide 18: Consolidated Financial Summary
Consolidated Financial Summary Unit: Million Baht 1Q08 4Q08 1Q09 %QoQ %YoY Interest and dividend income 1,804 1,965 2,075 5.6 15.0 Interest expense (760) (976) (830) (15.0) 9.2 Net interest income 1,044 989 1,245 25.9 19.3 Non-interest income 556 676 533 (21.2) (4.1) Trading income 9 (352) (5) 98.6
Slide 19: Interest and Dividend Income
Interest and Dividend Income Interest Income Performance 1Q09 Interest Income Breakdown Unit: Million Baht 15.0%YoY Investment Interbank & 2,075 6% 1,965 MM 1,804 3% 317 342 269 Inv estment Loans 15% Interbank & MM Hire 1,462 1,556 Loans Purchase 1,382 76% HP & Finance 1Q08 4Q08 1Q09 Unit: Million B
Slide 20: Spread and Net Interest Margins
Spread and Net Interest Margins % Loan Spread and Net Interest Margin 4.2 4.2 3.83 4.0 4.2 3.6 3.5 4.0 3.0 4.0 3.5 3.7 3.7 3.4 Loan spread NIM 2007 2008 1Q08 2Q08 3Q08 4Q08 1Q09 % Yield on Loans and Cost of Funds 7.6 7.5 7.3 7.3 7.3 7.2 7.2 Yield on loan 4.1 3.6 3.7 Cost 3.6 3.5 3.4 3.0 2007 2008 1Q
Slide 21: Interest Rate Movement
Interest Rate Movement Repo rate MLR Saving 3M 6M 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Source: TISCO and Bank of Thailand Deposits Rates Lending Rates Saving 0.75% - 2.00% MLR 6.50% Fixed 3M 1.00% - 3.625% MOR
Slide 22: Non-Interest Income
Non-Interest Income Non-Interest Income Performance 1Q09 Non-Interest Income Breakdown Unit: Million Baht IB 2% Trading Brokerage 556 602 533 Bancassurance IB 13% 118 31% 135 67 113 109 Brokerage Other 116 AM 65% Other banking 357 347 AM 20% 287 34% Banking 1Q08 4Q08 1Q09 Unit: Million Baht 1Q08 4Q0
Slide 23: Operating Expenses
Operating Expenses Operating Expenses Unit: Million Baht 1Q08 4Q08 1Q09 %QoQ %YoY Personnel expenses 407 420 407 (3.0) 0.2 Premises & equipment expenses 144 174 166 (4.8) 15.5 Taxes & duties 25 33 29 (10.6) 15.5 Fees & service expenses 91 68 78 15.0 (14.5) Directors’ remuneration 2 2 2 26.2 (5.0) Ot
Slide 24: Assets Quality
Assets Quality NPL and NPL Ratio (%) Coverage Ratio Unit: Million Baht Total NPL % NPL 4.3% 74.8% 2.9% 2.8% 61.0% 3,751 62.2% 2,984 3,037 2007 2008 1Q09 2007 2008 1Q09 NPL by Loan Type 1Q08 %NPL 4Q08 %NPL 1Q09 %NPL (Million Baht) Corporate 1,168 7.2 606 3.1 674 3.0 Hire Purchase 1,337 2.0 1,720 2.2
Slide 25: Risk-Based Capital Adequacy
Risk-Based Capital Adequacy Capital Adequacy Ratio Unit: Million Baht 12.54% 11.94% 11.75% 11.58% Capital Base 11.20% 10.16% BIS Ratio 12,374 11,536 10,922 Tier I 2007 2008 1Q09 Risk-Based Capital Breakdown Listed Equity Listed Equity Non-listed Mar. 09 Non-Listed Dec. 08 10.4% Operational 10.8% Equ
Slide 26: Interest Rate Risk
Interest Rate Risk Duration Gap Unit: Years Assets Liabilities Duration Gap 1.01 0.89 0.82 1.41 1.35 1.37 0.52 0.55 0.34 2007 2008 1Q09 26
Slide 27: Investor Relations
Investor Relations TISCO Financial Group Public Company Limited 48/2 TISCO Tower, North Sathorn Road Silom, Bangrak, Bangkok 10500 Thailand Tel: +66-2-633-6000 Fax: +66-2-633-6855 Email: ir@tisco.co.th Website: www.tisco.co.th 27
Slide 28: TISCO Group Structure
TISCO Group Structure TISCO Financial Group Public Company Limited 99.51% 100% 100% 100% 100% 49% TISCO Asset TISCO Information TISCO TISCO Bank Public TISCO Securities Hi-Way Management Technology Tokyo Leasing Co., Ltd. Co., Ltd. Co., Ltd. Co., Ltd. Co., Ltd. Co., Ltd. • Founded in 1969 as • Found
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