Turkiye Sinai Kalkinma Bankasi A.s. · BIST:TSKB
Turkiye Sinai Kalkinma Bankasi A.s — Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) — Q4 2010 Earnings Presentation
27 slides from Turkiye Sinai Kalkinma Bankasi A.s's earnings presentation, 2011
Slide 1: Investor Presentation 4Q2010 - BRSA Results
Created with a trial version of Syncfusion Essential PDF Investor Presentation 4Q2010 ‐ BRSA Results 1
Slide 2: Turkish Economy
Turkish Economy GDP Growth (%) Eurozone vs Turkey: Public Debt/GDP 8.4% 8.2% (%) Eurozone IMF 6.9% 100 4.7% 5.3% 5.4% 5 4% 90 T k Turkey Forecast 80 0.7% 70 Maastricht Criteria: 60% 60 50 ‐4.7% 40 2005 2006 2007 2008 2009 2010T 2011T 2012T 30 2002 2004 2006 2008 2010 2012 2014 Balance of Payments Fi
Slide 3: Turkish Economy
Turkish Economy Interest Rate Turkey CDS 900 25 Benchmark Bond Rate… 800 5 CDS 5yr 20 Policy Rate 700 10yr CDS Fiyat (bps) 600 15 500 400 10 300 5 200 Jan‐07 May‐ Oct‐07 Mar‐ Jul‐08 Dec‐08 May‐ Oct‐09 Mar‐ Jul‐10 Dec‐10 100 07 08 09 10 O 08 M 08 E 08 O 09 M 09 E 09 O 10 M 10 E 10 O 11 Exchange Rate
Slide 4: TSKB @ a Glance
TSKB @ a Glance Ownership TSKB Credit Ratings (Dec 2010) Free Float İş Bank; 41.6% Fitch LTFC BB+ 50 1% 50.1% Moody’s LTFC Ba3 Corporate Governance Rating Vakıf Bank; SAHA 8.92/10 8.4% Main Subsidiaries Yatırım Finansman Securities İ Leasing İş • Established in 1950 96% 29% • Largest private investm
Slide 5: Snapshots
Snapshots 2010 Growth (USD mn) (%) Liquid Assets 1.764 1% Loans 3 125 3.125 18% • ROE : 18.4% Asset Size 5.105 20% • NPL : 0.5% • CAR : 22.7% Funds 3.275 11% Equity 816 17% Net Profit 137 17% 5 TSKB @ a Glance | Banking Sector | Business Lines | Financials
Slide 6: Banking Sector vs TSKB
Banking Sector vs TSKB 2010 Banking Sector TSKB CAR 18.9% 22.7% Loans/ assets 52 5% 52.5% 61 2% 61.2% NPL 3.7% 0.5% Cost to income 41.2% 18.1% NIM 4.5% 4.2% ROAE 18.1% 18.4% B ki S Banking Sector t TSKB Deposits Long Term Funding %62 %6 %59 62% off li liabilities biliti are deposits d it 60% off li
Slide 7: Business Lines
MAIN BUSINESS LINES Business Lines Corporate Banking Investment Banking Treasury Key Subsidiaries Corporate Loans Corporate Yatırım Finansman Finance ALM Securities Project Finance Brokerage Fixed Income TSKB REIT Apex p Banking g Asset Spot&Derivative p TSKB Real Estate Management Trading Appraisal
Slide 8: Corporate Loans
Corporate Loans • Corporate Lending and SME Loans L Between 2005‐ 2010, TSKB has • Leasing i financed half of USD 7.7 bn investments and contributed to • Trade Finance the creation of 15.000 • Noncash Loans new jobs. 8 TSKB @ a Glance | Banking Sector | Business Lines | Financials
Slide 9: Project Finance
Project Finance • Renewable energy investments reached USD 5.3 bn of which USD 1.6 bn is underwritten by TSKB. • 96 projects with total installed capacity of 2.950 MW in Hydro, Wind, Geothermal and Biomass. • 53 of these projects are syndicated with other banks. 2011 Prospects • Alternative energy s
Slide 10: Apex Banking
Apex Banking • %18 of lending through APEX scheme • Placed through 22 intermediary financial instituions • USD 1.19 bn APEX funds; USD 900 mn to exports, USD 219 mn to SMEs 5 Commercial Banks 9 Commercial Banks • Reached over 1,000 companies. 12 Leasing Companies 9 Leasing Companies SMEs Exporters 1
Slide 11: Long Term Funding
Long Term Funding Outstanding Funding Base European Investment Bank (EIB) USD mn World Bank (IBRD) 3,016 2,848 Council of Europe Development Bank (CEB) 2 513 2,513 2,036 1,670 1,293 Kreditanstalt für Wiederaufbau (KfW) 640 312 368 413 258 94 Agence Française de Developpement (AFD) 2005 2006 2007 200
Slide 12: Funding Base
Funding Base Funding Long Term Funding; 82% • Long term funding average maturity: 10 yrs • 93% of long term funds guaranteed Short Term Funding; 8% by Turkish Treasury • Short term funding: 8 % Outstanding Funds • In last 3 years, USD 1.8 bn funding agreements were signed d EIB 35% IBRD 44% CEB 9% A
Slide 13: Corporate Finance
Corporate Finance M&A and Strategic Consulting • Impressive track record in M&A buy‐ side and sell‐side mandates • Consulting for privatization projects to both buy‐side and sell‐side Devam Ediyor Devam Ediyor Aralık 2010 Aralık 2010 • Company C and d assett valuations l ti ESTON Gayrimenkul Şirketi
Slide 14: Public Offering & Bond Origination
Public Offering & Bond Origination Public Offering B d Origination Bond O i i ti • 3 IPOs were completed in 2010. • One digit interest rates and Turkey’s solid economic outlook resulted in the • Emlak Konut REIT IPO was the 5th initiation of p private sector bond bi biggest t IPO iin T Turkish ki h
Slide 15: Asset Management & Brokerage
Asset Management & Brokerage Conventional Investment Funds Private Asset Management TSKB Investment Trust Capital Guaranteed Funds under the Umbrella fund Secondary capital market transactions: Investment Advisory and brokerage services to private&institutional customers in equity, fixed income, FX
Slide 16: Financial Highlights
Financial Highlights Foreign Currency Turkish Lira Assets Liabilites Assets Liabilities Repo R Liquid 13% Assets Long 26% Term Long F d Funds Term 10 years Loans 59% 5 years 59% Free Capital 12% 16 TSKB @ a Glance | Banking Sector | Business Lines | Financials
Slide 17: Composition of Assets
Composition of Assets • Loan/ Asset ratio: 61% 31% 38% 35% Liquid • 66% of assets are FX Assets denominated Loans 63% 57% 61% 74% off li •74% id assets liquid t are TRY government bonds Others 6% 5% 4% • Other assets: subsidiaries and 2008 2009 2010 tangible assets USD Bn 5.1 4.6 4.1 Total Assets (T
Slide 18: Loans
Loans USD Mn Loans by Sector 18% Logistics 9% Other 21% Energy 3,125 Distribution 6% 2,580 2,642 Construction 4% Metal 4% Tourism 4% Energy Production 29% 2008 2009 2010 Finance 23% • 96% foreign currency denominated Loans by Type • No currency mismatch A Apex 18% Project Finance 42% • 48% in EUROs,
Slide 19: Securities Portfolio
Securities Portfolio TL FX($) 327 300 303 • Duration is 6 months in Zero 1,943 1,985 Coupon bonds, 3.4 yrs in FRNs . 1 315 1,315 • 85% is in AFS portfolio. 2008 2009 2010 • Floating in TRY portfolio: 61% 2009 2010 FX FX Floatin Floating g • 81% of the portfolio: TRY TRY 5% TRY Fixed 1% TRY securitie
Slide 20: Liabilities
Liabilities USD mn 4,096 4,612 5,105 13.0% 15.0% Repo 18.6% • Total FX borrowings: USD 3.4 bn Long Term 59.1% Funds • Equity growth: 21% 68.4% 61.8% Other • Paid in Capital: TRY 700 mn 9.9% 6.5% 4 6% 4.6% Equity • Leverage ratio: 6.3X 12.1% 15.1% 16.0% 2008 2009 2010 20 TSKB @ a Glance | Banking Sec
Slide 21: Shareholder's Equity
Shareholder’s Equity TRY mn 21% Capital Adequacy Ratio 1,264 25% 1 041 1,041 23% 21% 750 22% 20% 20% 2008 2009 2010 2008 2009 2010 CAR Tier 1 Equity Movement Free Capital Ratio 212 1,264 12 2% 12.2% 11.0% 34 45 1,041 8.5% 2009 Equity q y Cash Dividend MTM Gains 2010 Net Profit 2010 Equity q y 2008
Slide 22: Income Breakdown
Income Breakdown (TRY mn) 2009 2010 Change Adj. Net Interest Income Bankingg 251 5 289 %15 5 Net Commisions Income 8 15 %88 Dividend Income 19 23 %21 Other Operating Income 15 17 %13 17% g Income Net Banking 293 344 %17 Personnel Expenses 33 36 %9 Adm. Expenses 13 16 %23 Commission Other Op. Expense
Slide 23: Quarterly Income Breakdown
Quarterly Income Breakdown (TRY mn) 4Q09 1Q10 2Q10 3Q10 4Q10 Change Adj. Net Interest Income 67 72 76 70 71 1% Net Commisions 3 2 4 2 6 145% Dividend Income 0 7 16 0 0 0% Other Operating Income 4 3 5 4 5 56% Net Banking Income 74 84 101 76 82 8% Personnel Expenses 11 8 8 8 12 46% Adm. Expenses 5 4 5
Slide 24: Income Breakdown
Income Breakdown Net Profit Income Breakdown %21 212 %84 Interest %85 %86 Income 175 %4 %5 %3 %4 %5 Commissions %4 Dividend %9 %9 %6 %7 %2 %5 %5 Other 2009 2010 2008 2009 2010 Net Interest Income Breakdown Commission Income Breakdown Liquid q Brokerage 16% Assets 30% 27% 54% 50% 15% 60% 14%
Slide 25: Key Performance Indicators
Key Performance Indicators ROAE ROAA Cost to Income 19.5% 18.4% 2.9% 16.0% 20.4% 2.7% 17.9% 18.1% 2.1% 2008 2009 2010 2008 2009 2010 2008 2009 2010 NIM Spread 3.0% 2.6% 2.3% 4.13% 4.12% 4.07% 2008 2009 2010 2008 2009 2010 25 TSKB @ a Glance | Banking Sector | Business Lines | Financials
Slide 26: Two awards to TSKB
Project Finance Awards Two awards to TSKB Euromoney Project Finance Magazine “2010 Deals D l off th the Y Year”” “European European Hydro “European European Utilities Deal PowerDeal of the Year” of the Year” Uludağ Electricity Distribution Boyabat Dam ve HES Project and Çamlıbel Electricity Distribu
Slide 27: Contact Us
Contact Us Financial Institutions & Investor Relations Meclisi Mebusan Caddesi No: 81 Fındıklı 34427 Istanbul – Turkey Email: fi_ir@tskb.com.tr Tel: +90 (212) 334 5124‐5194‐5129 Fax: +90 (212) 334 5234 Internet: www.tskb.com 27
Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) — Q4 2010 Earnings Presentation on 6ix