Capital Markets Day Athens, 16 January 2006 BANK: AGENDA 2010 ALPHA. Treasury Operations. G. Georgiou Senior Manager
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1 Capital Markets Day Athens, 16 January 2006 ALPHA : AGENDA 2010 Treasury Operations G. Georgiou Senior Manager
2 Contents: page Treasury Objectives 3 Treasury Structure 4 Treasury Performance 5 Treasury Main Goals 6 Debt Capital Markets Origination Bonds Origination - Loans 9 Funding Optimisation 10 EMTN Utilisation 11 2
3 Treasury Objectives It is the objective of the Bank to conduct trading activities through a centralised management structure, in order to offer superior services and value to its customers and, generate profit Our trading policies and limits are defined in the context of a business planning process which identifies strategies and resource allocations necessary to support a projected revenue stream, within an acceptable level of risk and under anticipated normal business conditions 3
4 Treasury Structure Our objective is to maintain a flexible structure with the necessary know-how, abilities and expertise to respond to present and future challenges and opportunities Standard Treasury Services Staff Allocation 20% 26% Liquidity Management Structuring Premium Products SALES TRADING Interest Rate & Credit Risk Debt Origination and Placement 54% Foreign Exchange SUPPORT Market Research Co-ordinate subsidiaries treasuries Monitor Treasury Operations Legal 4
5 Treasury Performance 20,000,000 EUR 17,500, ,000,000 12,500,000 10,000,000 7,500,000 5,000,000 2,500, ,500,000-5,000,000-7,500,000-10,000,000-12,500,000-15,000,000-17,500,000 Daily P&L VaR Max Profit -20,000,000 1/02 4/02 7/02 10/02 1/03 4/03 7/03 10/03 1/04 4/04 7/04 10/04 1/05 4/05 7/05 10/05 Regulatory Capital ( mio) Treasury Results ( mio) Return on Regul. Capital % 288% 179% 83% 5
6 Treasury main goals We aim to normalise returns and achieve recurring profile position ourselves as market leaders in the provision of standard and customised Treasury services to each of our customer segments (corporate, institutional and private) utilise and exploit our established sales networks, domestically and abroad diversify funding base and reduce funding costs 6
7 Debt Capital Markets The Bank has established itself as the market leader in Debt arrangement in Greece and a leading participant in the South-Eastern European Debt market, enhancing interest and fee income We intend to capitalise on our experience and know-how to achieve increased returns from effective and prudent asset allocation We will leverage our expansion overseas to gain further access to a wider array of clients and investors, securing the bank s long-term growth rates 7
8 2005 Origination - Bonds POLAND EUR 3,000,000,000 due April 2020 January 2005 LITHUANIA EUR 600,000,000 due February 2016 TURKEY EUR 1,000,000,000 due February 2017 HUNGARY EUR 1,000,000,000 due February 2020 REPUBLIC EUR 5,000,000,000 due July 2015 Joint Bookrunner SBER USD 850,000,000 due February 2015 EIB EUR 100,000,000 due March 2020 ASPIS FINANCE EUR 50,000,000 Subordinated due February 2015 Joint Lead Manager ALFA RUSSIA due January 2007 EIB EUR 450,000,000 due February 2020 VNESHTORG USD 750,000,000 due February 2015 Manager CENTERCREDIT due February 2008 REPUBLIC EUR 5,000,000,000 due September 2037 CZECH REPUBLIC EUR 1,00,000,000 due March 2020 REPUBLIC EUR 3,500,000,000 due April 2017 Joint Bookrunner REPUBLIC EUR 5,000,000,000 due April 2010 Joint Bookrunner OF ATTICA EUR 100,000,000 due March 2015 UBS EUR 850,000,000 Hybrid due April 2049 April 2005 EGNATIA EUR 80,000,000 Subordinated due April 2015 Bookrunner April 2005 NUR EUR 150,000,000 due April 2008 April 2005 OF CYPRUS EUR 300,000,000 due June 2008 OF MOSCOW USD 300,000,000 due November 2010 VESTEL USD 225,000,000 due May 2012 UKROSTS USD 100,000,000 due June 2008 CITY OF BUCHAREST EUR 500,000,000 due June 2015 ALLIANCE due June 2008 UKRSIB USD 125,000,000 due July 2008 ALFA RUSSIA USD 250,000,000 due February 2008 DENIZ due June 2010 TURKEY EUR 1,250,000,000 due June 2020 TURKEY EUR 650,000,000 due June 2012 PAREX USD 100,000,000 due June 2008 ROS due July 2007 July 2005 EGNATIA EUR 200,000,000 due August 2008 Bookrunner UNITED BULGARIAN BK EUR 100,000,000 due August 2008 Bookrunner FINANS EUR 60,000,000 Subordinated due September 2015 September 2005 PROMSVYAZ due October 2010 UKREXIM USD 250,000,000 due October 2012 AK BARS USD 175,000,000 due October 2008 CASPIAN due October 2008 NADRA USD 100,000,000 due November 2008 ATF due October 2010 RUSSIAN STD USD 500,000,000 due October 2010 CITY OF KIEV USD 250,000,000 due November 2015 UKRAINE USD 600,000,000 due October 2015 OTE plc EUR 650,000,000 due November 2011 ALLIANCE due November 2010 TURANALEM due November 2008 COMM. ROMANA USD 500,000,000 due December 2008 MDM USD 250,000,000 due December 2007 ALFA RUSSIA USD 225,000,000 due February 2008 FINANS RUSSIA EUR 150,000,000 due December 2008 RUSSIAN STD Subordinated due December 2015 VNESHTORG USD 1,000,000,000 due September 2007 OF PIRAEUS EUR 450,000,000 due December
9 2005 Origination - Loans FINANS (SUISSE) USD 80,000,000 April 2005 Medium Term Facility KYIVSTAR UKRAINE ALFA USD 230,000,000 VAKIF AG USD 55,000,000 FINANS A.S. USD 450,000,000 DOGUS GROUP EUR 250,000,000 GARANTI EUR 600,000,000 July 2005 TURKYIE VAKIFLAR ASI A.S. USD 750,000,000 July 2005 DENIZ AG USD 80,000,000 AK TAS USD 1,250,000,000 KOÇ A.S. USD 500,000,000 TURKIΥE IS ASI A.S. EUR 750,000,000 TURAN ALEM USD 777,000,000 September 2005 FINANS ROMANIA EUR 55,000,000 FINANS A.S. USD 725,000,000 DENIZ A.S USD 650,000,000 MDM USD 179,500,000 TURK EKONOMI ASI EUR 210,000,000 ALFA USD 275,000,000 Medium Term Facility VIMPELCOM USD 250,000,000 Viva Ventures Holding Gmbh EUR 350,000,000 INTERLEASE BULGARIA EUR 85,000,000 September 2005 BULGARIAN TELECOMMUNICATIONS COMPANY EUR 350,000,000 GARANTI USD 700,000,000 TURKIΥE IS ASI A.S. USD 400,000,000 KAZKOMMMERTS INTERNATIONAL USD 1,500,000,000 NOMOS Senior AK TAS USD 400,000,000 TURKIYE VAKIFLAR ASI A.S. USD 500,000,000 RUSSIAN STANDARD USD 60,000,000 Senior CENTER CREDIT YAPI KREDI ASI USD 800,000,000 KOÇ FINANS USD 110,000,000 RAIFFEISEN BULGARIA EUR 150,000,000 Lead ELECTROCENTRALE BUCHAREST USD 60,000,000 Lead BANCA COMERCIALA ROMANA USD 400,000,000 Lead S&B HOLDING Gmbh HE EUR 75,000,000 Mandated Joint Μακροπρόθεσμο Ομολογιακό Δάνειο ΣΦΑΚΙΑΝΑΚΗΣ Α.Ε.Β.Ε. EUR 80,000,000 Mandated Joint July 2005 ΟΤΕ PLC EUR 850,000,000 Mandated Joint September 2005 DEFENSE SYSTEMS EUR 60,000,000 Mandated Ο.Α.S.Α. EUR 200,000,000 Mandated September 2005 RAILWAYS EUR 520,000,000 Mandated Hellenic Aerospace Industry. EUR 30,000,000 Mandated RAILWAYS EUR 157,600,000 Mandated SARAKAKIS GROUP EUR 60,000,000 Mandated HALYVOURGIA THESSALIAS EUR 36,000,000 Mandated July 2005 A.B. VASSILOPOULOS EUR 40,000,000 Mandated LAMDA DEVELOPMENT EUR 15,000,000 Mandated VIVODI EUR 14,000,000 Mandated F&K LEMONIS EUR 20,000,000 Mandated VIAMAR EUR 20,000,000 Mandated INTRALOT EUR 15,000,000 Mandated ΜAMIDOIL- JETOIL EUR 40,000,000 Mandated Joint April 2005 DELTA HOLDINGS EUR 200,000,000 Mandated Joint July 2005 S&B ΒΙΟΜΗΧΑΝΙΚΑ ΟΡΥΚΤΑ HE EUR 75,000,000 Mandated Joint 9
10 Funding optimisation Wholesale funding was introduced to the bank with the establishment of our EMTN program in The road ahead involves taking advantage of additional funding media to improve the bank s terms of borrowing, diversify the investor base and secure its mid-to-long term financing In this spirit, we explore our options in areas such as Asset Securitisation Covered Bonds Schuldschein loans 10
11 EMTN Utilisation SUBORD 10% 73bps HYBRID 8% 129bps STRUCTURED 2% 0bps RETAIL 43% -10bps SENIOR 37% 31bps ΤΟΤAL ISSUANCE 25bps 11
12 Capital Markets Day Athens, 16 January 2006 ALPHA : AGENDA 2010 Treasury Operations G. Georgiou Senior Manager
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