Bsp Financial Group Ltd. · ASX:BFL
Bsp Financial — Non-Deal Roadshow (May 2021)
16 slides from Bsp Financial's roadshow presentation, May 31, 2021
Slide 1: BSP Financial Group Non Deal Roadshow Presentation cover letter
~ Company Secreta By Electronic Lodgement 318! May 2021 ASX Markets Announcements Office Exchange Centre 20 Bridge Street Sydney NSW 2000 Australia BSP Financial Group — Non Deal Roadshow Presentation In accordance with ASX Listing Rule 3.17B, please find attached BSP Financial Group (company no. 1-
Slide 2: Introducing BSP Financial Group Limited
For personal use only Introducing BSP Financial Group Limited [ARBN: 649 704 656, Incorporated in Papua New Guinea] May 2021 Group CEO – Robin Fleming Group CFO – Ronesh Dayal
Slide 3: Disclaimer
Disclaimer NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES This presentation has been prepared and issued by BSP Financial Group Limited (the "Company"), and may not be reproduced in whole or in part, nor may any of For personal use only its contents be disc
Slide 4: Who is BSP?
Who is BSP? BSP is the South Pacific’s leading financial services provider … listed on the PNGX For personal use only [2003] with a market cap circa A$2.0b K13.5b [A$4.8b] 117 branches and sub-branches In lending Largest network in South Pacific K21.7b [A$7.7b] K27.5b [A$9.8b] In deposits Total asse
Slide 5: History
History Over the past decade BSP has consistently delivered sustainable growth … For personal use only acquiring and establishing a wide range of new businesses throughout the South Pacific region and a South East Asian foothold. 2018 Established BSP Finance in Solomon Islands and Cambodia 2015 / 20
Slide 6: BSP's Business
BSP’s Business A diversified business covering banking, asset finance, life insurance, funds For personal use only management and corporate advisory services across the South Pacific and South-East Asia. BANKING ASSET FINANCE LIFE INSURANCE FUNDS MANAGEMENT & CORPORATE ADVISORY P5
Slide 7: Shareholders
Shareholders The BSP registry is dominated by South Pacific pension funds, government SOEs For personal use only and fund managers. @ March Shareholder Type 2021 ● South Pacific Pension Funds 34% ● Government SOEs 25% ● Fund Managers 22% ● Publicly Listed Companies 9% ● Other 10% P6
Slide 8: Competitive landscape
Competitive landscape BSP is PNG’s market leader … with key competitors ANZ, WBC and KSL collectively For personal use only representing approximately one-third of the market PNG COMMERCIAL BANKS Share COMPETITORS Unit BSP ANZ WBC KSL Performance 67% NPAT Km 642 183 64 76 ROE % 26.8 8.4 6.9 16.8 ROA
Slide 9: Market strength
Market strength The leading financial services provider in the South Pacific For personal use only LOANS MARKET SHARE DEPOSIT MARKET SHARE Rank Rank PNG 65% #1 PNG 65% #1 Solomon Islands 52% #1 Solomon Islands 53% #1 Tonga 41% #1 Cook Islands 47% #1 Cook Islands 38% #1 Tonga 43% #1 Samoa 30% #1 Samo
Slide 10: 2020 results
2020 results A resilient performance in 2020, giving regard to the significant COVID-19 For personal use only pandemic related challenges faced by the business in the region. 2020 2020 vs 2019 ● Profit [NPAT, Km] 806 - 9.5% ● Net assets [Kb] 3.4 + 10.2% ● Cost-to-income ratio [%] 37.4 - 33bps ● Capi
Slide 11: Group NPAT
Group NPAT NPAT decreased as the global pandemic triggered an inevitable increase in loan For personal use only impairment expenses. INCOME [Km] OPERATING LOAN IMPAIRMENT NPAT [Km] - K84m - K26m EXPENSE [Km] EXPENSE [Km] - K17m K102m (9.5%) (1.2%) (2.0%) 102.9% 890 2,171 887 2,166 201 2,146 844 819
Slide 12: Group financial KPI's
Group financial KPI’s BSP continues to grow its loans, assets and deposits, validating the underlying For personal use only strength of the business. NET LOANS TOTAL ASSETS [Kb] [Kb] 27.5 23.1 24.5 13.2 13.5 20.8 22.4 12.5 11.2 10.1 CAGR = 6.0% CAGR = 5.7% 2016 2017 2018 2019 2020 2016 2017 2018 201
Slide 13: Key ratios
Key ratios BSP Group has maintained strong results across all key performance ratios, notwithstanding increased provisioning reflecting generally weak economic For personal use only activity in the South Pacific region. COST TO INCOME [%] ROE & ROA [%] (512bps) (65bps) (33bps) 30.7 3.7 3.7 41.0 29.7
Slide 14: PNGX share price
PNGX share price Dividend yield of 11.17% based on K12.00 share price and market capitalization For personal use only of K5.61b. 12.08 12.00 12.01 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 1,189 1,095 967 964 911 11.82 11.77 609 448 403 416 365 245 196 113 137 57 Jan-20 Feb-20 Mar-
Slide 15: Why list on the ASX?
Why list on the ASX? ● BSP has experienced significant growth over the last 20 years. BSP anticipates For personal use only that there will be opportunities in the Asia-Pacific region to further BSP's growth in the short to medium term. However, there is a lack of liquidity and access to capital off
Slide 16: Concluding remarks
Concluding remarks ● We have become the largest bank in the South Pacific, a market leadership For personal use only position that is underpinned by our extensive and far-reaching distribution network … a key competitive advantage in customer acquisition. ● We have consistently been a pioneer in the