Türk Ekonomi Bankası A.Ş Q Results

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1 2011 1Q Results

2 TEB Financial Group of Companies and the Merged Bank

3 A Major Player of the Turkish Financial Services Market TEB Factoring 3rd largest factoring company in Turkey with 9% market share as of Q TEB Leasing 6th largest leasing company in Turkey with 6,5% market share as of Q TEB N.V. Turkish specialist in the EU market, total asset size is is EUR 692 mio as of Q TEB Investment 4th largest brokerage & investment house of Turkey with 4,79% market share as of Q TEB (Bank) Full range of banking services TEB Asset Management 5th largest asset management company with 4,83% market share as of Q TEB Cetelem 2nd largest consumer finance company in Turkey with 4%market share as of Q TEB Arval Operative since October 2007,approximately 4% market share as of Q TEB Kosova Operative since January 2008, with 17 branches A wide spectrum of financial services 3

4 Subsidiaries of TEB BNP Paribas Group Partnership with BNPP since February % TEB Holding 50% Çolakoğlu Group TEB Cetelem TEB ARVAL 55 % TEB (Bank) TEB SHA (Kosovo) 20% 50% 100% 100% 10% 100% TEB NV (TheNetherlands) TEB Leasing TEB Factoring 4.53% free float (Istanbul Stock Exchange) 100% TEB Asset Management 100% TEB Investment 4

5 Current Ownership Structure of TEB A.Ş. BNP Paribas 10.79% SFPI* 75% 25% Fortis Bank SA/NV 100% 100% BNPP-Fortis Investment Holding A.S. 50% 50% Çolakoğlu Group BNPP Investment Holding A.S. TEB Holding A.Ş. 55% 23.34% 17.08% TEB A.S. 4.52% Free Float *Société Fédérale de Participations et d Investissments 5

6 The Merged Bank Kırklareli Edirne Tekirdağ Çanakkale İstanbul Yalova Bursa İzmit Sakarya Bilecik Bartın Kastamonu Zonguldak Karabük Düzce Çankırı Bolu Sinop Çorum Samsun Amasya Tokat Ordu Giresun Rize Trabzon G.Hane Bayburt Artvin Erzurum Ardahan Kars Iğdır Balıkesir Eskişehir Ankara Kırıkkale Yozgat Sivas Erzincan Ağrı Kütahya Kırşehir Tunceli Bingöl Muş Manisa Van Afyon Van Uşak Nevşehir Kayseri Elazığ İzmir Malatya Bitlis Konya Aksaray Uş Diyarbakır Siirt Aydın Denizli ak Isparta K.Maraş Niğde Batman Adıyaman Hakkari Aydın Burdur Şırnak Muğla Adana Mardin Osmaniye Ş.Urfa Karaman G.Antep Antalya Kıbrıs Şube Cities bulunan where iller the combined bank has branches Mersin Kilis Hatay As of 31/03/2011 Number of Clients: 2,9 million Number of Branches: 603 Total Staff:

7 Ratings FITCH Rating Outlook Short Term LC Long Term LC Short Term FC Long Term FC Individual National Support "F3" "BBB" "F3" "BBB-" "C/D" "AAA (tur)" 2 Positive Positive Stable MOODY'S Rating Outlook Banking Financial Strength Rating Long Term FC Bank Deposits Long Term LC Bank Deposits "D+" Ba3/NP Baa2/P-2 Stable Positive Stable 7

8 Financial Highlights

9 Consolidated Balance Sheet Reviewed Audited Reviewed Audited TRY Million Share Change Share Change Assets Liabilities Cash & banks 9% 3,167 3, % Deposits 55% 18,366 13, % M.sec + repos 18% 5,910 3, % Repos 2% % Loans + Trade rec. 68% 22,600 13, % Funds Borrowed 22% 7,286 4, % Other Assets 3% % Other Liab. 6% 2,144 1, % Non- IE Assets 2% % Total Liabilities 86% 28,521 18, % Total Assets 100% 33,353 21, % Subordinated Loans 1% % Sh. Equity Capital & Res. 13% 4,268 1, % Income 0.2% n.m. Total Sh. Equity 13% 4,344 1, % Total Liab + Equity 100% 33,353 21, % Source: TEB, BRSA Consolidated Financials 9

10 Consolidated Income Statement TRY Million Reviewed Reviewed Change Net Interest Income % Marketable Securities Revaluation Differences % Adjusted Net Interest Income % FX Gains / (Losses) nm Derivatives Trading nm Securities Trading Income % Net Fees & Commissions Income % Other Operating Income % Net Banking Income % Loan Loss Provisions % Net Operating Income % Income from discontinued operations nm Operating Expenses % Provision for T axes on Income % Net Income / (Loss) % Source: TEB, BRSA Consolidated Financials 10

11 Consolidated Income Statement TRY Million Reviewed Audited Q Q Change Net Interest Income % Marketable Securities Revaluation Differences nm Adjusted Net Interest Income % FX Gains / (Losses) nm Derivatives Trading nm Securities Trading Income % Net Fees & Commissions Income % Other Operating Income % Net Banking Income % Loan Loss Provisions % Net Operating Income % Operating Expenses % Provision for Taxes on Income % Net Income / (Loss) % Source: TEB, BRSA Consolidated Financials 11

12 Balance Sheet Composition TEB Assets Growth (Q o Q) TEB+FORTIS Assets Growth (Q o Q) 57.52% 17,415 33,353 18,096 18, % 2.96% 21, % 2.21% Total Assets Variance TEB Assets Composition TEB Liability Composition Deposit Funds Borrowed Other Liabilities Shareholders Equity 53% 56% 55% 59% 55% 28% 24% 24% 23% 25% 13% 13% 14% 12% 13% 6% 7% 7% 6% 7% Source: TEB, BRSA Consolidated Financials 12

13 Loan Composition and Asset Quality Loan Composition (Q o Q) 18,929 18,951 19,983 20,906 TL Loans 17,445 FX Loans 76% 9,675 77% 79% 10,473 10,794 78% 11,753 80% Total Loans TEB+FORTIS Non Performing Loans 923, , , ,971 NPL Coverage 695,975 Non Performing Loans 402, % 3.2% 3.2% 3.0% 3.3% 24% 23% 21% 22% 20% % 334,714 54% 348,698 60% 360,075 66% 69% TEB+FORTIS Source: TEB, BRSA Bank-Only Financials 13

14 Loans by Business Lines RETAIL (*) 27.0% PRIVATE 0.2% Mortgage Vehicle Consumer Credit Card 1,858 2,808 SME 42.4% CORPORATE 30.4% 994 1,091 1,103 1, , , New Segmentation Criteria Corporate > 30 mio TL Breakdown of Retail Loans SME < 30 mio TL 0,5 mio TL private (*) credit cards are included Source: TEB, BRSA Bank-Only Financials 14

15 Loans by industry Chemicals 5% Misc. Services 6% Transportation Veh. 3% Agriculture 3% Machinery 2% Mining 2% Elect. & optical appliance 2% Wholesale/Retail 5% Tourism 6% Other 16% Food, Beverage & Tobacco 9% Construction 8% Consumer 18% Metal 7% Textile 8% Loan Portfolio by Industry Source: TEB, BRSA Bank-Only Financials 15

16 Breakdown of Deposits PRIVATE 11.2% CORPORATE 27.4% RETAIL 38.5% SME 22.8% Time/Demand Deposit Composition New Segmentation Criteria Corporate > 30 mio TL SME < 30 mio TL > 0,5 mio TL private Source: TEB, BRSA Bank-Only Financials 16

17 SELECTED RATIOS-1 Loan/Deposits Liquid Assets/Deposits Source: TEB, BRSA Bank-Only Financials 17

18 SELECTED RATIOS-2 Cost / Income Ratio Cost/Income Ratio (restructuring costs not included) Restructuring costs: 300 mio TL of which approx. 57 mio was booked in miotl booked in Q Synergies: 200 mio TL for the year 2013 (recurring) Subject to potential further revisions in the upcoming stages, the preliminary studies forecasts total income restructuring costs of TL 300 million for the years 2010 to Income synergies forecasted for the year 2013 on the other hand is TL 200 million. While the synergies are expected to continue following 2013, restructring costs will end in Source: TEB, BRSA Bank-Only Financials 18

19 SELECTED RATIOS-3 Cost of Risk Capital Adequacy Ratio 16.3% 15.4% 15.7% 14.4% 15.3% NIM(*) (*) (Net interest income+ Foreign Exchange gain/loss +Derivatives Gains) / Average Interest Earning Assets Source: TEB, BRSA Bank-Only Financials 19

20 Disclaimer The information and opinions obtained in this document have been compiled or arrived at by TEB from sources believed to be reliable, but no representation or warranty is made as to their accuracy, completeness or correctness. All opinions and estimates contained in this document constitute TEB s judgement as of the date of this document and are subject to change without notice. This document is published for the assistance of the recipients, but is not to be relied upon as authoritative or taken in subtitution for the exercise of judgement by any recipient. TEB does not accept any liability for any direct or consequential loss arising from any use of this document or its contents. This document is strictly confidential and may not be reproduced, distributed or published for any purpose. 20

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