Turkiye Vakiflar Bankasi Turk Anonim Ortakligi · BIST:VAKBN
Turkiye Vakiflar Bankasi Turk Anonim Ortakligi — FY2021 Earnings Presentation
26 slides from Turkiye Vakiflar Bankasi Turk Anonim Ortakligi's earnings presentation, Feb 14, 2022
Slide 1: Earnings Presentation BRSA Bank-Only YE 2021
Earnings Presentation BRSA Bank-Only YE 2021 February 14, 2022
Slide 2: 4Q21 Earnings and Ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 4Q21 Earnings and Ratios Net Income (TL million) Core Banking Revenue (TL million)* 5,010 TL 300 million 4,875 TL 700 million 2,298 additional free additional free provision in 24,045 provision in 2021 4Q21 4,175 23,282 1,998 10,384 3.3% 5,874
Slide 3: Key Highlights of 4Q21
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Key Highlights of 4Q21 TL loan driven quarterly lending activity FC loans are down by TL 574 Total loans are up by TL 362 TL loans are up by $ 15.8 4.5% QoQ and 2.7% YoY bio 20.0% QoQ and 35.9% YoY. bio 9.3% QoQ and 20.2% YoY. bio in USD terms.
Slide 4: 4Q21 P&L Details
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 4Q21 P&L Details YoY 2021 4Q21 QoQ Net Interest -2% 19,453 8,975 91% Income 33% 4,501 Net Fees and 21% 1,409 Commissions -28% 121 0 92% Dividend Income Net Trading 86% (4,750) (936) -49% Income 48% Other Income 1,671 26% 7,947 4% 27,363 Total R
Slide 5: NIM, CPI linkers and money market funding
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 NIM, CPI linkers and money market funding Net Interest Margin (NIM %) Swap Adjusted Net Interest Margin (%) 4.81 390 370 4.30 2.89 2.80 2.28 2.02 157 176 1.80 192 bps 233 bps 109 52 bps 74 89 67 bps 1Q21 2Q21 3Q21 4Q21 2020 9M21 2021 1Q21 2Q21
Slide 6: High quality core banking revenue further increased
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 High quality core banking revenue further increased Core Banking Revenue 76.8% 90.6% Share of high 10,384 QoQ NII growth quality core 86% banking revenue 5,874 21.1% in total as of QoQ Net F&C growth 4Q21* 3Q21 4Q21 Total Revenue* – Revenue Bre
Slide 7: Net fee & commission income
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Net fee & commission income Net Fee & Commission Income Breakdown (TL million) 32.6% Inquiry & Insurance Inquiry & Insurance Expertise Expertise 13.2% 10.2% 3.7% 1.0% 4,501 Cash Cash Loans Other Loans Other 38.7% 7.2% 2.7% 38.1% 3,395 3Q21 Paym
Slide 8: Disciplined cost management in place
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Disciplined cost management in place Operating Expenses (TL million) Breakdown of OPEX 17.8% 9,508 8,073 Annual OPEX 58% growth 42% substantially below annual inflation 2021 2020 2021 Cost/Income Ratio (%) HR Cost / Non-HR Cost (TL million) 19.
Slide 9: Well-diversified & stable loan breakdown
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Well-diversified & stable loan breakdown Segment Breakdown of Loans (TL billion) Portfolio Breakdown (%) 573.7 SME Com. & Corp 34.6 4Q21 13% 4Q21 30% 478.1 458.9 422.0 30.0 130.4 3Q21 4% 25.9 3Q21 4% Other* 20.6 2Q21 3% 111.0 115.6 48.3 2Q21 -1
Slide 10: Breakdown of loan portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Breakdown of loan portfolio Sector Breakdown of Cash Loans Breakdown of FC Loans Breakdown of Project Finance Manufacturing Other Retail Loans Working Capital 19% 19% and Other 11% Service Energy Other (inc, Construction 33% 13% 32% business an
Slide 11: Maintained prudent coverage ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Maintained prudent coverage ratios NPL (TL million)* Stage II Loans Breakdown (TL million) Stage II 2,192 15.0 14.1 13.3 14.5 Coverage 1,056 Ratio (%) 18,309 17,173 Share in 10.83 total loans 8.06 8.18 8.69 (%) 62,159 Total Stage II Loans NPL 3
Slide 12: Well-balanced deposit portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Well-balanced deposit portfolio Total Deposits (TL billion) Breakdown of Deposits Market 12.0% 11.2% 11.3% 11.1% Share 590.9 57% 65% 43% 465.7 35% 414.0 432.4 335.5 Sector $ 25.0 FC 225.7 198.9 211.6 TL TL Deposits FC Deposits TL Deposits FC De
Slide 13: Well diversified external funding
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Well diversified external funding Breakdown of Wholesale Funding TL 58.8 billion sustainable finance provided as of 4Q21 in the balance sheet Local Bonds Other Eurobond IFI Borrowings 3.0% 2.2% 28% Eurobond Sustainable 7% AT I Issuance 8.6% 28.
Slide 14: Solvency ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Solvency ratios Capital Adequacy Ratio (%) Solvency ratios without BRSA 4Q21 CET I 11.59 10.90 10.52 9.88 9.96 Required CET1 forbearance (% - 4Q21) level 8% CAR 12.71 4Q21 Tier I 14.45 13.59 13.22 12.39 12.88 Required Tier I Tier I 10.86 level
Slide 15: Appendix
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Appendix Pg. 16 Sustainable banking approach Pg. 17 Recent developments in sustainability journey Pg. 18 Improved efficiency with enhanced digital platforms Pg. 19 Composition of assets & liabilities Pg. 20 Well-positioned security portfolio Pg
Slide 16: Sustainable banking approach
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Sustainable banking approach Indices Initiatives Sustainability Rating Score: 47 in 2021 B Score in 2021 1st assessment in 2015 Sustainability Reporting www.vakifbank.com.tr 16
Slide 17: Recent developments in sustainability journey
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Recent developments in sustainability journey Investor Relations Sustainability Environmental Management Sustainability Committee Service Sub-Committee Environmental and Social Risk Impact Analysis Department We established Sustainability Commi
Slide 18: Improved efficiency with enhanced digital platforms
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Improved efficiency with enhanced digital platforms Non-branch transaction share** ~92% Call Center # of active* digital banking ATM customers reached 1% 21% 5.9 million Mobile Banking 36% Branch 4Q21 9% # of transaction made Internet through d
Slide 19: Composition of asset&liabilities
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Composition of asset&liabilities Breakdown of Assets (%) TL/FC Mix in Total Assets Other 4Q21 18.0 Interbank The share of IEA 2.8 82% 52% 48% 4Q21 in total assets Securities 22.2 Loans 57.0 TL FC Breakdown of Liabilities (%) TL/FC Mix in Total
Slide 20: Well-positioned security portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Well-positioned security portfolio Total Securities (TL million) Portfolio Structure 52.7% Breakdown of FC Securities 5% 223,737 40% 2020 100% 73,862 175,232 55% 165,427 27.7% 146,510 62,715 60,664 Fixed 16,404 58,747 11,747 Breakdown of TL Sec
Slide 21: Retail Lending Portfolio
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Retail Lending Portfolio General Purpose Consumer (TL billion) Residential Mortgages (TL billion) Credit Card Loans (TL billion)* ~70% of GPC loans extended to payroll clients 19.7% 61.2% 0.7% ~30% of mortgages extended to payroll 23.6 clients
Slide 22: Diversified funding sources via non-deposit funding
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Diversified funding sources via non-deposit funding Syndication Eurobonds and Private Placements USD 1.8 billion outstanding Nov’21: USD 650 million equivalent syndicated loan, Libor +2.15%, Euribor USD 3.8 billion outstanding Eurobonds and U
Slide 23: Unconsolidated Key Financial Ratios
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Unconsolidated Key Financial Ratios 2020 4Q20 3Q21 4Q21 2021 Profitability ROAE 12.6% 5.9% 6.4% 15.9% 8.5% ROAA 0.9% 0.4% 0.4% 0.9% 0.5% Cost / Income 30.7% 36.2% 43.4% 25.6% 34.7% Cost / Assets 1.2% 1.2% 1.2% 1.1% 0.9% Fee / Cost 42.1% 35.8% 5
Slide 24: Unconsolidated Balance Sheet
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Unconsolidated Balance Sheet (TL-thousand, %) YE20 3Q21 YE21 TL USD TL USD TL USD TL USD YoY QoQ YoY QoQ Cash & Balances with Central 93,188,786 12,508,562 77,787,917 8,759,901 144,148,987 10,757,387 55% 85% -14% 23% Bank Assets Interbank 2,772
Slide 25: Unconsolidated Income Statement
INVESTOR RELATIONS Earnings Presentation Bank-Only YE21 Unconsolidated Income Statement (TL thousand, %) 2020 3Q21 4Q21 2021 YoY QoQ Net Interest Income 17,293,612 2,562,116 7,267,007 12,323,517 (29%) 184% (Inc. Swap Cost) Income on CPI linkers 4,277,528 2,659,800 3,844,216 9,933,374 132% 45% Swap C
Slide 26: For VakıfBank IR Application: For Earnings Presentations
For VakıfBank IR Application: For Earnings Presentations: A member of BIST Sustainability Index Investor Relations Saray Mahallesi Dr. Adnan Buyukdeniz Cad. A1 Blok No: 7a Umraniye/Istanbul E-mail: investorrelations@vakifbank.com.tr Tel (90-216) 724 2685 Fax (90-216) 724 3941 www.vakifbank.com.tr Di
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