Tisco Financial Group Public Co. Ltd. · SET:TISCO
Tisco Financial Group Public — Q1 2010 Earnings Presentation
26 slides from Tisco Financial Group Public's earnings presentation, Apr 21, 2010
Slide 1: TISCO Financial Group Analyst Presentation 1Q10
TISCO Financial Group Public Co., Ltd. Analyst Presentation 1Q10 21 April 2010 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 f
Slide 2: Agenda
Agenda I. Financial Performance II. Operational Updates 2
Slide 3: Consolidated Financial Summary
Consolidated Financial Summary Unit: Million Baht 1Q09 4Q09 1Q10 %QoQ %YoY Interest income 2,075 2,162 2,255 4.3 8.7 Interest expense (830) (509) (508) (0.1) (38.8) Net interest income 1,245 1,653 1,747 5.7 40.3 Non-interest income 528 895 792 (11.5) 50.1 Operating expense (840) (1,235) (1,230) (0.4
Slide 4: Consolidated Financial Summary
Consolidated Financial Summary Unit: Million Baht 1Q09 4Q09 1Q10 %QoQ %YoY Interest income 2,075 2,162 2,255 4.3 8.7 Interest expense (830) (509) (508) (0.1) (38.8) Net interest income 1,245 1,653 1,747 5.7 40.3 Non-interest income 528 895 792 (11.5) 50.1 Operating expense (840) (1,235) (1,230) (0.4
Slide 5: Interest and Dividend Income
Interest and Dividend Income Interest Income Performance Unit: Million Baht 8.7% YoY 4.3% QoQ 2,162 2,255 2,075 Inv estment 15% 14% 15% Interbank & MM 77% 76% Loans 75% HP & Finance 1Q09 4Q09 1Q10 Unit: Million Baht 1Q09 4Q09 1Q10 %QoQ %YoY Hire purchase & fin lease interests 1,556 1,655 1,706 3.1 9
Slide 6: Loans Portfolio
Loans Portfolio Loan Growth 9.8%YoY 12.9%YoY* 113,233 117,831 75% 4.1%QoQ 3.3%QoQ* 107,336 15% 15% 16% Other Loans 19% 79% Corporate & 75% 79% SME Loans Retail Loans 1Q09 4Q09 1Q10 *Include HP loan portfolio recorded as investments Retail Loans SME Loans Corporate Loans 15.3%YoY 58.4%YoY 12.9% YoY F
Slide 7: Hire Purchase Business
Hire Purchase Business Hire Purchase Loan Portfolio Breakdown by car brand 15.8%YoY 20.1%YoY* Others, 5.4%QoQ 4.4%QoQ* 13% Toyota, 91,311 Mazda & 32% 86,632 Chevrolet, 13% 78,867 Isuzu, 25% Honda, 1Q09 4Q09 1Q10 17% *Include HP loan portfolio recorded as investments HP Portfolio Breakdown Used cars,
Slide 8: Hire Purchase Business
Hire Purchase Business Industry Car Sales Growth (YoY) Industry Car Sales and TISCO Penetration Rate Passenger car Pick-up Total No. of Car Sales (Thousand Units) 80% Penetration Rate (%) 60% 40% 614.1 20% 548.9 13.4% 10.8% 12.6% 0% 10.2% 12.0% -20% -40% 182.4 -60% 107.8 103.8 Jan-09 Feb-09 Mar-09 A
Slide 9: Spread and Margin
Spread and Margin Yield on Loans and Cost of Funds 7.3 7.1 7.1 7.0 7.0 7.0 7.0 Yield on loan 3.5 3.0 Cost 2.1 2.2 1.8 1.7 1.7 2008 2009 1Q09 2Q09 3Q09 4Q09 1Q10 Loan Spread and Net Interest Margin 5.2 5.3 5.3 5.0 4.8 5.0 5.0 5.1 4.1 4.7 Loan spread 3.7 4.6 3.8 4.0 NIM 2008 2009 1Q09 2Q09 3Q09 4Q09 1
Slide 10: Consolidated Financial Summary
Consolidated Financial Summary Unit: Million Baht 1Q09 4Q09 1Q10 %QoQ %YoY Interest income 2,075 2,162 2,255 4.3 8.7 Interest expense (830) (509) (508) (0.1) (38.8) Net interest income 1,245 1,653 1,747 5.7 40.3 Non-interest income 528 895 792 (11.5) 50.1 Operating expense (840) (1,235) (1,230) (0.4
Slide 11: Non-Interest Income
Non-Interest Income Non-Interest Income from Core Business Unit: Million Baht 45.0%YoY 876 11.8%QoQ 772 19% 17% 533 17% IB fee 21% 13% Brokerage fee 21% 62% AM fee 61% 65% Banking fee 1Q09 4Q09 1Q10 Unit: Million Baht 1Q09 4Q09 1Q10 % QoQ %YoY Banking fee & other income 343 546 474 (13.2) 38.4 AM fe
Slide 12: Asset Management Business
Asset Management Business TISCO Assets Under Management Unit: Billion Baht 38.9%YoY 129.9 5.4%QoQ 123.3 11% Rank #7 12% 93.6 31% 32% 16% Mutual Fund 22% Private Fund 57% 57% 62% Provident Fund 1Q09 4Q09 1Q10 Provident Fund Private Fund Mutual Fund Unit: Billion Baht 4.8%QoQ Unit: Billion Baht 8.8%Qo
Slide 13: Brokerage Business
Brokerage Business Market Average Daily Turnover and TISCO Market Share Market Average Daily Turnover (Million Baht) Market share (%) 20,063 19,323 3.1% 8,660 2.8% 2.9% 1Q09* 4Q09* 1Q10* Remark: * Market share excluding brokers’ proprietary trading TISCO Trading Volume by Customer Local Institution
Slide 14: Consolidated Financial Summary
Consolidated Financial Summary Unit: Million Baht 1Q09 4Q09 1Q10 %QoQ %YoY Interest income 2,075 2,162 2,255 4.3 8.7 Interest expense (830) (509) (508) (0.1) (38.8) Net interest income 1,245 1,653 1,747 5.7 40.3 Non-interest income 528 895 792 (11.5) 50.1 Operating expense (840) (1,235) (1,230) (0.4
Slide 15: Cost Structure
Cost Structure Operating Expenses Structure Unit: Million Baht 46.6%YoY 27% 0.4%QoQ 1,235 1,230 Other expenses 17% 32% 16% Directors' remuneration 840 19% 14% Fees & service exp 15% Taxes & duties 20% 58% Premises & equip exp 44% 49% Personnel expenses 1Q09 4Q09 1Q10 Unit: Million Baht 1Q09 4Q09 1Q1
Slide 16: Consolidated Financial Summary
Consolidated Financial Summary Unit: Million Baht 1Q09 4Q09 1Q10 %QoQ %YoY Interest income 2,075 2,162 2,255 4.3 8.7 Interest expense (830) (509) (508) (0.1) (38.8) Net interest income 1,245 1,653 1,747 5.7 40.3 Non-interest income 528 895 792 (11.5) 50.1 Operating expense (840) (1,235) (1,230) (0.4
Slide 17: Assets Quality
Assets Quality NPL Ratio Provision Expenses Unit: Million Baht Unit: Million Baht Provision % Credit cost Total NPL % NPL Additional general 1,548 reserve of 461 MB 2.8% 2.5% 2.1% 2.2% 980 3,037 2,807 2,633 1.1% 584 1.1% 1.4% 1.0% 293 312 1Q09 4Q09 1Q10 2008 2009 1Q09 4Q09 1Q10 NPL by Loan Type 1Q09
Slide 18: Loan Loss Provision
Loan Loss Provision Specific vs Actual Provision Unit: Million Baht Specific Provision Actual Provision Cushion against volatility & systematic market risk 2,835 2,425 2,425 General General reserve 1,855 reserve 1,853 = 1,231 1,697 1,697 1,588 = 728 1,622 1,604 2008 2009 1Q09 4Q09 1Q10 Credit Loss n
Slide 19: NPA and Special Provision
NPA and Special Provision NPA and Special Provision for NPA Unit: Million Baht NPA - Property / Real Estate Special Provision 1,011 982 508 508 508 508 211 MM was transferred to general reserve 297 297 43 47 2008 2009 1Q09 4Q09 1Q10 19
Slide 20: Assets & Liabilities
Assets & Liabilities Assets Liabilities Unit: Million Baht 7.2%YoY Unit: Million Baht 6.7 % YoY 0.7%QoQ 0.2 % QoQ 130,467 138,804 139,806 118,570 126,286 126,511 Other Liabilities Other assets LT Borrowings Interbank & MM 82% 82% 84% 87% 88% 86% Interbank & MM Investments Deposits & ST Loans Borrowi
Slide 21: Deposits and ST Borrowings
Deposits and ST Borrowings Deposits & ST Borrowings Unit: Million Baht 6.3% YoY 102,641 110,507 109,130 1.2% QoQ 40% 38% 49% ST Borrowings 23% 28% Fixed Deposits 46% 36% 23% CASA 16% 1Q09 4Q09 1Q10 Unit: Million Baht 1Q09 4Q09 1Q10 %QoQ %YoY Current 7,635 7,431 7,602 2.3 (0.4) Savings 8,536 17,920 3
Slide 22: Capital
Capital Capital Adequacy Ratio Unit: Million Baht 16.96% 16.74% 14.46% 14.82% 12.54% 14,909 Capital Base 10.16% 13,758 12,831 BIS Ratio (%) Tier I 1Q09 4Q09 1Q10 Risk-Based Capital Breakdown Dec. 09 Non-Listed Mar. 10 Non-Listed Listed Equity Equity Equity Operational Banking Listed Equity Banking 7
Slide 23: Interest Rate Risk
Interest Rate Risk Duration of Assets and Liabilities Unit: Years Assets Liabilities Duration Gap 1.61 1.61 1.48 0.91 0.99 0.94 0.62 0.67 0.57 1Q09 4Q09 1Q10 23
Slide 24: Agenda
Agenda I. 2009 Achievements II. Financial Performance III.Operational Updates 24
Slide 25: Operational updates
Operational updates 2008 2009 1Q10 - Loan syndication facility of Baht 13.5 No. of Employee 2,662 2,904 2,905 billion to GM Group. No. of Branch 34 43 46 - Loan syndication facility of Baht 2.3 - Bangkok * 12 21 23 billion to SC Group - Upcountry 22 22 23 Remark: * Including Head Office branch Branc
Slide 26: 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 26
TISCO Financial Group Public — Q1 2010 Earnings Presentation on 6ix