Cembra Money Bank Ag · SIX:CMBN
Cembra Money Bank — Credit Suisse Mid-Cap Conference 2018
18 slides from Cembra Money Bank's conference presentation, Nov 15, 2018
Slide 1: Cembra Money Bank
Cembra Money Bank Credit Suisse Mid-Cap Conference, 15 November 2018 Page Cembra Money Bank
Slide 2: A leading player in consumer finance in Switzerland
A leading player in consumer finance in Switzerland Personal loans Auto leases & loans Credit cards Market (Dec’17) Market (Dec’17) Market (Dec’17) 34% Captives Independent Cembra • Bank-now • Swisscard (CS) • AMAG Leasing • Bank-now Money Cembra • Cashgate Bank • Viseca (Aduno) 2017 • BMW 2017 • Ca
Slide 3: A proven track record of performance
A proven track record of performance IPO targets 2014 2015 2016 2017 H1’18 (Oct. 2013) Net customer loan growth to Asset growth be moderate and in line 2.1% (0.3)% 0.9% 12.0% 4.0% with Swiss GDP growth Organic: 4.0% Profitability RoE target of at least 15% 17.0% 17.7% 17.4% 16.7% 17.8% Target Tier 1
Slide 4: A clear strategy
A clear strategy Defend the core Gain size through Build the future external growth & business diversification Asset growth through Robust IT investment plan M&A transactions Strong performance Simplify customer Swissbilling Cross sell / upsell onboarding EFL Autoleasing New
Slide 5: A strong value proposition
A strong value proposition Independent consumer finance specialist Diversified distribution through own branches, independent credit agents, car dealers and retailers combined with a strong online presence Premium price supported by superior personalized and flexible service in personal loans,
Slide 6: H1 2018 market update
H1 2018 market update Markets Cembra’s performance Personal loan market turned Volumes in line with H1 2017… maintaining market share positive in 2017 (+2%) Vast majority of the book repriced 4% increase of assets – lower attrition Eny cooperation performing well Credit card market up 3% vs
Slide 7: Key financials
Key financials P&L (in CHF mn) H1’18 H1’17 Balance sheet as per 30 June 2018 Interest income 162.2 151.1 (in CHF mn) Assets Liabilities & Equity Interest expense (10.1) (12.6) Cash 5,312 mn Net interest income 152.1 138.6 Insurance 9.8 11.9 1,856 Credit card fees 43.2 34.5 Personal loans 2,750 Depos
Slide 8: Diversified funding
Diversified funding Diversified, local funding sources Funding programs (in CHF mn) 4,3011 Senior Eight issuances of between CHF 50mn to CHF 200mn each 3,8781 4,0521 unsecured Non-Deposits – 36% 3,660 Avg. remaining term of 5.1 yrs / avg. rate of 0.49%3 IPO 1,102 ABS Two AAA-rated issuances of
Slide 9: Stable loss performance
Stable loss performance Provision for losses (in CHF mn) 30+ days past due / NPL 4% 43.6 44.6 3% 30+ days past due 2.0% 2.0% 1.9% 1.9% 2% 24.0 23.9 Non-performing loans (NPL)² 21.1 1% 0.5% 0.4% 0.4% 0.5% 0% Jun'15 Jun'16 Jun'17 Jun'18 FY'15 FY'16 H1'17 H2'17 H1'18 Write-off performance³ 5% 2010 1.1%
Slide 10: Strong capital position
Strong capital position Tier 1 capital walk (in CHF mn)1 Comments 19.2% 18.9% Tier 1 ratio Excess capital stood at CHF 39mn as of 30 June 2018 RWA increased by 4% in line with net financing receivables 789.7 (54.4) 810.4 growth 76.0 (0.9) 39 Excess capital 18% minimum target 11.2% regulatory req
Slide 11: Outlook and guidance for 2018
Outlook and guidance for 2018 Medium-term targets H1’18 Outlook for full-year 2018 Revenues Net customer loan growth to Additional revenues from credit cards growth and Asset growth be moderate and in line 4.0% with Swiss GDP growth acquisitions expected to be partially offset by lower interest in
Slide 12: Appendix
Appendix Page 12 Cembra Money Bank
Slide 13: Auto leases & loans: Prudent risk approach
Auto leases & loans: Prudent risk approach Geographical diversification No brand concentration High quality assets Auto: 30+ days past due Other Top 3 Auto: Non-performing loans (NPL) brands brands 39% 31% Central 30% East 36% South West 7% 30% 27% Top 4-10 brands Prudent Residual Value (RV) setting
Slide 14: P&L Income statement
P&L Income statement (in CHF mn) H1’18 H1’17 V% Comments Interest income 162.2 151.1 7 1 Higher interest income driven by 2017 initiatives partially Interest expense (10.1) (12.6) (20) offset by the repricing of the personal loan back book Lower interest expense primarily driven by lower debt fi
Slide 15: Operating expenses
Operating expenses Income statement (in CHF mn) H1’18 H1’17 V% Comments Compensation and benefits 1 52.8 49.2 7 1 Increase in FTE driven by the acquisition of EFL Autoleasing AG and Swissbilling growth Professional services 2 7.4 5.3 40 3 2 Professional services increased due to several initiati
Slide 16: Balance sheet
Balance sheet Assets (in CHF mn) 30-06-18 31-12-17 V% Comments Cash and equivalents 1 440 418 5 1 Stable cash level to manage upcoming maturities Net financing receivables 2 4,742 4,562 4 Personal loans 1,856 1,782 4 2 Strong originations across all products in H1 2018 Auto leases and loans 1,97
Slide 17: Cautionary statement regarding forward-looking statements
Cautionary statement regarding forward- looking statements This presentation by Cembra Money Bank AG (“the Group”) includes forward-looking statements that reflect the Group‘s intentions, beliefs or current expectations and projections about the Group’s future results of operations, financial condit
Slide 18: Calendar and further information
Calendar and further information Calendar 10 January 2019 Baader Swiss Equities Conference, Bad Ragaz 18 January 2019 Octavian Seminar, Flims 21 February 2019 2018 full-year results 22 February 2019 Roadshow Zürich 26 February 2019 Roadshow Frankfurt 27 February 2019 Roadshow London Visit us on cemb
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