Turkiye Vakiflar Bankasi Turk Anonim Ortakligi · BIST:VAKBN
Turkiye Vakiflar Bankasi Turk Anonim Ortakligi — Q1 2021 Earnings Presentation
24 slides from Turkiye Vakiflar Bankasi Turk Anonim Ortakligi's earnings presentation, May 6, 2021
Slide 1: Earnings Presentation BRSA Bank-Only 1Q21
Earnings Presentation BRSA Bank-Only 1Q21 May 6, 2021
Slide 2: 1Q21 Earnings and Ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 1Q21 Earnings and Ratios Net Income (TL million) 1,716.2 TL1,072 million 1,150 free provisions in TL 400 million 2020 12.1% 750.1 additional free provision in 1Q21 Conservative CPI 669.0 estimation of 9.4% for YE21 11.63% for Oct – Oct in 1Q21
Slide 3: Key Highlights of 1Q21
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Key Highlights of 1Q21 Net Income • 1Q21 bank-only net income came at TL 750 million, up by 12.1% QoQ. Net income would be TL 1,150 million if adjusted with additional free provision amount of TL 400 million. Quarterly net income growth wou
Slide 4: 1Q21 P&L Details
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 1Q21 P&L Details 3,513 6,578 (2,149) (3,426) 874 16 (505) 2,680 1Q21 (252) 750 Net Interest Net Fees and Dividend Net Trading Other Income Total Operating Provisions Taxes Net Income Income Commissions Income Income Revenue Expenses % vs -45% -
Slide 5: Revenue breakdown
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Revenue breakdown Total Revenues – Revenue Breakdown (TL million) 11.6% Dividend Dividend 0.0% 6,578 0.2% Further 5,892 Other + Other+Trading increased Trading 17.2% 45.8% revenue generation Net F&C 4Q20 1Q21 capacity despite NIM 13.0% pressure
Slide 6: NIM, Spreads & Costs
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 NIM, Spreads & Costs Net Interest Margin (NIM %) Swap Adjusted Net Interest Margin (%) 5.17 4.30 NII would be 4.48 higher 3.74 ~TL 250 mio 2.91 in case of 14% CPI exp. used in 2.40 1.80 ~ 2 1Q21 0.74 ~ 1 1Q20 4Q20 2020YE 1Q21 CPI Adj.* 1Q20 4Q2
Slide 7: OPEX under control
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 OPEX under control Operating Expenses* (TL million) Breakdown of OPEX Cumulative Opex Growth 16.2% 2,135 2,149 61% 56% 39% 44% 1,850 4Q20 1Q21 1Q20 4Q20 1Q21 Cost/Income (%) OPEX Breakdown (TL million) 20.1% 13.3% 36.2 32.7 937 1,293 843 1,213
Slide 8: Well-diversified & stable loan breakdown
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Well-diversified & stable loan breakdown Segment Breakdown of Loans (TL billion) Currency Breakdown of Loans (TL billion) Portfolio Breakdown (%) 448.3 448.3 422.0 23.5 422.0 21.7 SME 24.1 25.1 112.5 136.8 105.8 121.1 312.0 312.0 29% 31% Other*
Slide 9: Breakdown of loan portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Breakdown of loan portfolio Sector Breakdown of Cash Loans CGF Loans (TL billion) Manufacturing Retail Loans 4Q20 1Q21 22% 19% Covid Related Non-Retail CGF Loans TL 42.7 TL 38.7 Construction Covid Related Retail CGF Loans TL 10.3 TL 9.0 Other (
Slide 10: Strong coverage ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Strong coverage ratios NPL (TL million)* Net Cost of Risk (bps) 705 1,175 17,444 16,974 Impact of NPL 421 recognition 330 Gross 247 278 day : CoR ~+65 bps 219 202 NPL 4Q20 New NPL Collections NPL 1Q21 172 Due to strong collection 5.30 performan
Slide 11: Well-balanced deposit portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Well-balanced deposit portfolio Total Deposits (TL billion) Breakdown of Deposits Market 11.0% 12.0% 9.6% 11.8% Share 430.3 50.3% 49.7% 55.3% 414.0 44.8% 335.9 214.0 Sector 269.0 198.9 $ 26.0 144.2 $ 26.7 FC TL Deposits FC Deposits TL Deposits
Slide 12: A good start to the year with pioneer external funding transactions
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 A good start to the year with pioneer external funding transactions Breakdown of Wholesale Funding Local Bonds Other 4.5% 1.9% Eurobond In March 2021, VakıfBank issued a new DPR securitization 24.9% with an amount of 9.2% USD 1 billion 750 mill
Slide 13: Solvency ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Solvency ratios Capital Adequacy Ratio (%) 1Q21 Required CET I 9.77 12.58 12.04 11.59 10.90 CET1 level 8% 1Q21 Solvency ratios without forbearances Tier I 12.69 15.59 15.16 14.45 13.59 Required Tier I level (% - 1Q21) 17.61 17.19 9.5% 16.44 15.
Slide 14: Appendix
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Appendix Pg. 15 Sustainable banking approach Pg. 16 Improved efficiency with enhanced digital platforms Pg. 17 Composition of assets&liabilities Pg. 18 Well-positioned security portfolio Pg. 19 Retail Lending Portfolio Pg. 20 Diversified fundin
Slide 15: Sustainable banking approach
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Sustainable banking approach Indices Initiatives Reporting & Certificates Funding 2014- 2019 Sustainability Reports, since 2019 Since 2014, in the Among the participants Integrated Report BIST Sustainability of the UN Global Compact in line wit
Slide 16: Improved efficiency with enhanced digital platforms
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Improved efficiency with enhanced digital platforms Non-branch transaction share** ~90% Call Center # of active* digital banking ATM customers reached 1.2 21.0 5.4 million with 42% growth YoY Mobile Banking 37.1 Branch 1Q21 10.3 # of transactio
Slide 17: Composition of asset&liabilities
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Composition of asset&liabilities Breakdown of Assets (%) TL/FC Mix in Total Assets Other 14.0 1Q21 Interbank 2.3 The share of IEA 59% 86% 41% 1Q21 Securities in total assets 21.5 Loans 62.2 TL FC Breakdown of Liabilities (%) TL/FC Mix in Total
Slide 18: Well-positioned security portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Well-positioned security portfolio Total Securities (TL million) Portfolio Structure 74.8% Breakdown of FC Securities 155,276 1Q21 Share of Fixed: 100% 146,510 Breakdown of TL Securities 6.0% 58,717 58,747 Share of Fixed: 26% 6% 38% Share
Slide 19: Retail Lending Portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Retail Lending Portfolio General Purpose Consumer (TL billion) Residential Mortgages (TL billion) Credit Card Loans (TL million)* 49.9% 61.2% 42.5% ~%70 of GPC ~%30 of loans 15,256 extended to mortgages 14,637 50.6 49.5 48.8 extended to 13,568
Slide 20: Diversified funding sources via non-deposit funding
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Diversified funding sources via non-deposit funding Syndication Eurobonds and Private Placements USD 2 billion outstanding USD 3.75 billion outstanding Eurobonds and USD 99.5 million Mar’20: USD 325 million bilateral loan with ICBC, 3 years m
Slide 21: Unconsolidated Key Financial Ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Unconsolidated Key Financial Ratios 1Q20 4Q20 1Q21 Profitability ROAE 20.6% 5.9% 6.4% ROAA 1.6% 0.4% 0.4% Cost / Income* 26.1% 36.2% 32.7% Cost / Assets* 1.6% 1.2% 1.2% Fee / Cost* 55.2% 35.8% 40.7% Liquidity Loans / Deposits 116.0% 101.9% 104.
Slide 22: Unconsolidated Balance Sheet
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Unconsolidated Balance Sheet 1Q20 YE20 1Q21 TL USD (thousand) TL USD TL USD TL USD YoY QoQ YoY QoQ Cash & Balances with Central Bank 22,680,000 3,441,578 93,188,786 12,508,562 68,600,305 8,325,280 202.5% (26.4%) 141.9% (33.4%) Interbank 5,468,6
Slide 23: Unconsolidated Income Statement
INVESTOR RELATIONS Earnings Presentation Bank-Only 1Q21 Unconsolidated Income Statement (TL-thousand, %) 1Q20 4Q20 1Q21 YoY QoQ Net Interest Income 4,908,397 4,110,798 2,680,324 (45.4%) (34.8%) Net Fee & Com, Income 1,021,291 764,982 874,355 (14.4%) 14.3% Dividend Income 151,402 171 15,764 (89.6%) 9
Slide 24: For VakıfBank IR
For Earnings For VakıfBank IR Presentations: Application: A member of BIST Sustainability Index Investor Relations Saray Mahallesi Dr. Adnan Buyukdeniz Cad. A1 Blok No: 7a Umraniye/Istanbul (Akyaka Park Mall) E-mail: investorrelations@vakifbank.com.tr Tel (90-216) 724 2685 Fax (90-216) 724 3941 www.
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