Tisco Financial Group Public Co. Ltd. · SET:TISCO
Tisco Financial Group Public — FY2010 Earnings Presentation
25 slides from Tisco Financial Group Public's earnings presentation, Jan 12, 2011
Slide 1: Analyst Presentation 4Q10 & FY10 Results
TISCO Financial Group Public Co., Ltd. Analyst Presentation 4Q10 & FY10 Results 12 January 2011 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 res
Slide 2: Agenda
Agenda I. 2010 Performance Highlights II. Financial Results 2010 III. Appendix 2
Slide 3: 2010 Highlights
2010 Highlights • Record high loan growth contributed by strong growth in all business areas • Loan spread slightly soften in 4Q10 due to changes in asset and liability mix, while overall spread remained high with net spread after provision at target level • NPL reported at record low with wide exce
Slide 4: Key Financial Performance
Key Financial Performance 3Q10 4Q10 2009 2010 Notes Loan Growth 9.3% 7.1% 13.8%* 32.2% Loan continued to grow in all segments Retail loan mix decreased as Corporate & SME Loan Mix – Retail 76.5% 75.4% 80.1% 75.4% showed strong loan growth Deposit Mix – CASA Deposit mix shifted toward longer-term 34.
Slide 5: Agenda
Agenda I. 2010 Performance Highlights II. Financial Results 2010 III. Appendix 5
Slide 6: Consolidated Income Statements
Consolidated Income Statements Unit: Million Baht 4Q09 3Q10 4Q10 %QoQ %YoY 2009 2010 %YoY Interest income 2,162 2,430 2,533 4.2 17.2 8,473 9,520 12.4 Interest expense (509) (589) (707) 20.0 39.0 (2,492) (2,315) (7.1) Net interest income 1,653 1,841 1,826 (0.8) 10.5 5,981 7,205 20.5 Non-interest inco
Slide 7: Assets and Liabilities
Assets and Liabilities Assets Liabilities Unit: Million Baht Unit: Million Baht 23.5%YoY 24.0%YoY 9.6%QoQ 10.0%QoQ 171,408 156,550 156,407 142,283 138,804 126,286 Other assets Other Liabilities Interbank & MM LT Borrowings 89% 87% 80% 79% 82% Investments 88% Interbank & MM Loans Deposits & ST Borrow
Slide 8: Loans and Deposits
Loans and Deposits Loans Deposits + B/Es Unit: Million Baht Unit: Million Baht 32.2%YoY 19.3% YoY 7.1%QoQ 7.8% QoQ 149,731 132,309 139,865 122,756 6% 110,937 7% 113,233 13% 13% LT Borrowings 11% Other Loans (excl. debentures) 48% 45% 57% ST Borrowings SME Loans 76% 75% 15% Fixed Deposits 80% Corpora
Slide 9: Loan Composition
Loan Composition Loan Portfolio Breakdown 2009 2010 Others Others SME SME 5% 6% 4% 6% Corporate 11% Corporate 13% Retail Retail 80% 75% Retail Loans SME Loans Corporate Loans Unit: Million Baht Unit: Million Baht Unit: Million Baht 24.5%YoY 100.8%YoY 50.4%YoY 5.6%QoQ 33.1%QoQ 2.6%QoQ 106,986 112,959
Slide 10: Loan Spread
Loan Spread Loan Spread, Yield on Loans and Cost of Funds % Loan spread % Yield on loans % Cost of funds 7.1 7.1 7.0 7.0 7.0 6.9 6.7 7.0 6.8 6.6 5.3 5.3 5.3 5.0 5.0 5.1 5.0 4.8 4.6 4.2 2.1 2.9 2.2 1.7 1.8 1.7 1.7 1.6 1.8 2.0 2009 2010 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 10
Slide 11: Retail Loan Portfolio
Retail Loan Portfolio Retail Loan Portfolio Breakdown Mortgage, 1.3% HP New Car, 76.6% Auto Cash, 4.7% Auto HP, 94.0% HP Used Car, 15.7% Motorcycle, 1.7% Auto Hire Purchase Loan TISCO Auto Cash Loan Unit: Million Baht Unit: Million Baht 22.6%YoY 104.6%YoY 5.1%QoQ 16.2%QoQ 106,168 100,977 86,632 5,36
Slide 12: Industry Car Sales and Penetration Rate
Industry Car Sales and Penetration Rate Industry New Car Sales Units 2007 2008 2009 2010 80,000 60,000 40,000 20,000 Jan Feb Mar April May Jun Jul Aug Sep Oct Nov Dec TISCO Penetration Rate No. of New Car Sales ('000 Units) Penetration Rate (%) 707.2 12.6% 12.2% 11.8% 10.9% 476.8 9.4% 11.3% 189.9 19
Slide 13: Asset Quality
Asset Quality NPL and NPL Ratio Unit: Million Baht Total NPL % NPL 2.5% 2.2% 2.0% 1.8% 1.9% 1.8% 2,807 2,654 2,633 2,641 2,646 2,654 2009 2010 1Q10 2Q10 3Q10 4Q10 2009 3Q10 2010 NPL by Loan Type (Million Baht) (%) (Million Baht) (%) (Million Baht) (%) Corporate 600 4.0 562 2.7 536 2.4 SME 73 1.6 121
Slide 14: Provisions
Provisions Provision Expense and Credit Cost Provision expense (Million Baht) % Credit cost 1.8% 1.7% 1.4% 1,933 1.4% 1.1% 1,548 1.5% 599 605 418 312 2009 2010 1Q10 2Q10 3Q10 4Q10 Specific Provision vs Actual Provision Unit: Million Baht Specific Provision Actual Provision Cushion against volatility
Slide 15: Non-Interest Income
Non-Interest Income Non-Interest Income from Core Businesses Non-Interest Income Structure (35% of Total Income) Unit: Million Baht 25.4%YoY 3,514 Trading 3.8%QoQ Income, 5.4% Others, 3.9% Bancassurance, 2,715 IB, 4.6% 28.7% Banking, 49.8% Brokerage, HP Related, 967 18.2% 15.8% 930 742 Other Banking
Slide 16: Asset Management Business
Asset Management Business TISCO Assets Under Management Unit: Million Baht 11.1%YoY 138,625 137,015 1.2%QoQ 123,286 Rank #7 30% 31% 31% 13% 13% 12% Private Fund Mutual Fund 57% 58% 56% Provident Fund 2009 3Q10 4Q10 Provident Fund Private Fund Mutual Fund Unit: Million Baht Unit: Million Baht Unit: M
Slide 17: Brokerage Business
Brokerage Business TISCO Trading Volume and Market Share TISCO Volume (Million Baht) Market share (%) 333,211 219,379 2.9% 2.8% 2.7% 2.6% 2.9% 2.7% 101,738 108,053 60,023 63,398 2009 2010 1Q10 2Q10 3Q10 4Q10 Remark: Market share excluded brokers’ proprietary trading TISCO Trading Volume by Customer
Slide 18: Operating Expenses
Operating Expenses Cost to Income Ratio Cost Structure Others, Directors' 20.0% Remunerati 50.4% 48.5% 45.0% on, 0.2% 42.7% 43.1% Fee & Services, Personal 7.2% Expenses, 55.3% Taxes & Duties, 3.1% Premises & 2009 2010 4Q09 3Q10 4Q10 Equipments, 14.2% Unit: Million Baht 4Q09 3Q10 4Q10 %QoQ %YoY 2009
Slide 19: Capital Adequacy
Capital Adequacy Capital Adequacy Ratio 17.0% 16.7% 16.6% 15.2% 15.4% 14.8% 13.5% 11.9% 11.7% 12.3% 14.5% 11.4% 11.6% 11.2% Capital Base (Million Baht) 16,129 16,381 16,227 14,909 13,758 BIS Ratio (%) 10,386 10,837 Tier I (%) 2007 2008 2009* 1Q10 2Q10 3Q10 4Q10 Remark: *Upgraded from Basel II – SA t
Slide 20: Agenda
Agenda I. 2010 Performance Highlights II. Financial Results 2010 III. Appendix 20
Slide 21: Awards & Recognitions in 2010
Awards & Recognitions in 2010 “Best Asset Management Company Award” - SET Awards 2010 “Best Bank in Thai Baht Corporate Bonds 2010” - The Asset 2010 “Best Domestic Equity House in Thailand” - Asiamoney Award 2010 “Best Equity Fund Group - 3 Years” - Lipper Fund Awards 2010 “Excellence CG Scoring” -
Slide 22: New Products and Services in 2010
New Products and Services in 2010 - Loan Syndication Facility of Bt 13.5 billion to GM Group - TISCO Korea Fixed Income Fund #7-#13, #15,#18 - Loan Syndication Facility of Bt 32 billion to Gulf JP Ltd - TISCO China Trigger 15% Fund #1 - #2 - Loan Syndication Facility of Bt 9.9 billion to PTTAR - TIS
Slide 23: Employee and Branch Network
Employee and Branch Network Dec09 Sep10 Dec10 No. of Employee 2,904 3,002 3,055 TISCO Bank’s Branch 43 46 45 - Bangkok * 21 23 22 - Upcountry 22 23 23 TISCO Leasing’s Branch - - 4 - Bangkok - - - - Upcountry - - 4 Remark: * Including Head Office branch New TISCO Leasing Branches in 2010 - Phetchabun
Slide 24: Interest Rate Risk
Interest Rate Risk Duration of Assets and Liabilities Unit: Years Assets Liabilities Duration Gap 1.62 1.61 1.58 1.57 1.52 1.41 1.35 1.01 1.00 0.94 0.97 0.89 0.77 0.86 0.67 0.81 0.71 0.62 0.55 0.52 0.34 2007 2008 2009 1Q10 2Q10 3Q10 4Q10 24
Slide 25: Investor Relations
Investor Relations TISCO Financial Group Public Company Limited 48/2 TISCO Tower, North Sathorn Road Silom, Bangrak, Bangkok 10500 Thailand Tel: +66-2-633-6868 Fax: +66-2-633-6855 Email: ir@tisco.co.th Website: www.tisco.co.th 25
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