Q Earnings. 10 November November 2015 BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Q3 2015 Earnings. 10 November 2015. 10 November 2015 BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft"

Transcription

1 Q Earnings 10 November 2015

2 Highlights first three quarters 2015 Financial & business highlights Net profit of 320m, up 22% vpy RoE of 16.9% Stable net interest income NIM up 28bps to 2.13% vpy Continued focus on efficiency cost-income ratio down 4.6pts to 46.7% vpy Solid risk profile risk costs down 40% to 31m CET1 ratio of 14.9% and total capital ratio of 17.9%, both on a fully loaded basis Taking market share consumer lending share up 100bps to 10% vye easybank rated #1 direct bank in Austria total accounts up 10% to 545,000 vpy Purchase of Volksbanken Leasing completed Performance vs. targets FY Targets Net profit > 400m YTD Performance 320.3m Return on equity > 14% 16.9% Cost-income ratio < 50% 46.7% NPL ratio < 2.5% 2.2% CET1 ratio (FF) > 12% 14.9% Total capital ratio (FF) > 16% 17.9% Leverage ratio (FF) > 6% 6.5% Liquidity coverage ratio > 100% 138% Consumer lending market share 9% 10% Delivering results well on track to outperform 2015 targets FF Fully fledged 2

3 Performance scorecard Strong results across all key indicators RoE NIM Cost-income 15.9% +1.0pts 16.9% 1.85% +0.28pts 2.13% 51.3% (4.6pts) 46.7% Q1-3 '14 Q1-3 '15 Q1-3 '14 Q1-3 '15 Q1-3 '14 Q1-3 '15 Leverage (FF) CET1 (FF) NPL 5.4% +1.1pts 6.5% 11.5% +3.4pts 14.9% 3.2% (1.0pts) 2.2% Sep '14 Sep '15 Sep '14 Sep '15 Sep '14 Sep '15 3

4 Business segments Retail Banking & Small Business Corporate Lending & Investments Treasury Services & Markets millions Profit before tax millions Profit before tax millions Profit before tax % % (37%) 28 Q1-3 '14 Q1-3 '15 V Q1-3 '14 Q1-3 '15 V Q1-3 '14 Q1-3 '15 V Core rev (3.5%) Opex (267) (238) (10.9%) C/I ratio 63.1% 58.5% (4.6pts) NPL ratio 3.4% 2.2% (1.2pts) Cov. ratio 83.7% 91.1% 7.4pts Retail net asset growth (+1% vye) led by new consumer lending of 372m market share up 100bps to 10% Fund sales 1b (+11% vpy) NCI of all investment products up 10% vpy easybank customer loans up to 232m (+26% vpy) and deposits up to 3.1b (+13% vpy) total customer assets after integration of BAWAG P.S.K. and Volksbanken auto leasing businesses approx. 1b Core rev % Opex (58) (62) 6.5% C/I ratio 31.2% 29.7% (1.5pts) NPL ratio 1.9% 0.7% (1.2pts) Cov. ratio 85.3% 99.2% 13.9pts International business originations of > 2.5b in Q driven by portfolio and real estate financing Strong credit profile across international assets average LTV of real estate assets < 60% and leverage of corporate assets < 4.0x Muted loan demand in Austria focusing on risk-adjusted returns and repricing Core rev % Opex (16) (15) (8.6%) C/I ratio 26.6% 34.4% 7.8pts NPL ratio 0% 0% - Cov. ratio n/a n/a - Continued focus on high credit quality, shorter duration and strong liquidity positions 99% investment grade portfolio (100% investment grade issuer ratings) no exposure to HETA, Hungary, Russia, Ukraine and other South Eastern European countries 4

5 Acquisition update Purchase of immigon s 1) Austrian leasing business completed in October Deal landscape Autos 60% 0.7b leasing assets Other 40% Deal rationale Bolt-on acquisition creating the #3 auto lessor in Austria core franchise for BAWAG P.S.K. combined auto leasing assets 0.7b as of Sep. 15 Expands distribution footprint with limited overlap (dealers, end customer access, etc.) 2014 performance millions Volksbanken Leasing BAWAG P.S.K. Leasing Net interest income Net commission income Net profit Total assets Gain floor plan financing expertise enabler for growth Combined entity creates scale across asset groups competitive advantage Strong management with 15+ years experience in leasing Value accretive day 1 Bolt-on acquisition creating value day 1 become #3 auto lessor in Austria 1) immigon portfolioabbau ag is the former Österreichische Volksbanken AG 5

6 Financial performance Strong Q3 and YTD 2015 results across the Bank Income statement millions Q3 15 Chg. (%) Q Chg. (%) Net interest income Net commission income 42.9 (8) (6) Core revenues (2) Other revenues (40) Operating income (1) Operating expense (111.9) (7) (336.7) (8) Bank levy (6.0) (3) (17.4) (6) Risk costs (8.3) (44) (31.2) (40) Net profit Key ratios Q3 15 Chg. (pts) Q Chg. (pts) Return on equity 14.4% (0.9) 16.9% 1.0 Return on risk-weighted assets 2.40% % 0.51 Net interest margin 2.11% % 0.28 Cost-income ratio 48.6% (3.2) 46.7% (4.6) Balance sheet millions Sep 15 Chg. (%) 1) Sep 15 Chg. (%) 2) Customer loans and receivables 22, ,044 0 Customer deposits 20,919 (1) 20,919 2 IFRS equity 2, , Risk-weighted assets 15,677 (7) 15,677 (8) YTD Highlights Net profit up 22% vpy emphasis on high quality of earnings Core revenues up 6% vpy to 684m, with NII up 9% vpy to 539m Operating expenses down 8% vpy continued focus on efficiency measures driving operational excellence Risk costs down 40% reflects lowrisk balance sheet and repositioning of customer business Customer loans increased by 265m, or 1.2% vye new originations of 3.4b in Retail and International Business Continued favorable trend across key financial metrics RoE +1pt, RoRWA +1pt, CIR -5pts vpy 1) Change vs. Dec. 14 2) Change vs. Sep. 14 6

7 Core revenues Core revenue growth driven by customer loans and lower funding costs Core revenues millions NII NCI NIM 2.03% 2.11% 2.07% 2.15% 2.11% Summary NII growth driven by core lending products, pricing initiatives and lower funding costs Focus on higher margin consumer and international lending while re-pricing or exiting non-core assets Reduced funding costs blended deposit rate down to 0.35% versus 0.55% year-on-year Strong quality of earnings Other revenues as % of operating income on average only 6% over the last five quarters Q3 '14 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Other revenues as % of operating income 1) 4.6% 5.2% 12.1% 2.8% 5.1% 1) In absolute terms 7

8 Operating expenses Restructuring investments paying off Operating expenses millions OPEX 55.8% 51.8% 45.3% Cost-income ratio 46.4% 48.6% Summary Significant progress in fixing structural cost imbalances... benefits materializing from prior years restructuring program Operating expenses down 7% vpy driven by sustainable long-term measures Cost-income ratio of 46.7% in the first three quarters down 4.6pts vpy Well on track to achieve our net cost-out target of 5-10% in 2015 Q3 '14 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Continued focus on operating efficiency given overall market dynamics low growth, low interest rates and shifting customer behavior away from physical to digital networks Active FTEs 2,902 2,836 2,696 2,619 2,565 8

9 Risk costs Proactive risk management to maintain conservative risk profile Risk costs millions LLPs Impairments Risk costs / L&R 0.35% 0.23% 0.17% 0.18% 0.13% Q3 '14 Q4 '14 Q1 '15 Q2 '15 Q3 '15 NPL ratio % 2.8% 2.8% 2.3% 2.2% 8.3 Summary Risk costs materially down due to de-risking activities and improved credit quality across core business segments Historic balance sheet clean-up efforts behind us no impairments YTD NPL ratio improved to 2.2%... coverage ratio at 57.2% Continued focus on proactive risk management Proactively reducing CEE loan exposure expect exit in near term Reduced CEE loans from 409m to 184m, 55% decrease vpy represents less than 0.6% of total assets 9

10 Balance sheet Successful repositioning to focus on core customer loans & deposit funding Assets Liabilities & Equity billions Customer loans Securities billions NEAs Customer loan yield Deposits Others Retail deposit costs Own issues Core equity 2.73% 2.73% 2.72% 2.62% 2.62% 0.55% 0.50% 0.42% 0.39% 0.35% % 13% 13% 15% 12% 24% 24% 23% 20% 20% % 7% 7% 8% 8% 16% 14% 16% 13% 14% 18% 18% 17% 17% 15% 64% 63% 64% 65% 68% 59% 61% 60% 62% 63% Sep '14 Dec '14 Mar '15 Jun '15 Sep'15 Customer loan yields stable despite depressed interest rate environment Slightly increasing customer loans despite a challenging market customer loans account for greater percentage of total assets continue to focus on growing as % of total assets Non-earning assets (NEAs) comprised primarily of excess liquidity positions and positive market value of derivatives Sep '14 Dec '14 Mar '15 Jun '15 Sep '15 Deleveraging wholesale funding & non-core deposits while shifting of deposit mix and maintaining pricing discipline Further opportunity to optimize funding structure to address low interest rate environment Continued focus on simplified capital structure 10

11 Capital Safe & secure, more capital efficient, lower risk and lower leverage Capital ratios (FF) RWA B/S Leverage CET1 Total Capital billions 15.8% +2.1 pts 17.9% 16.8 (6.6%) x (2.0x) 12.1% +2.8pts 14.9% 12.4x Dec '14 Sep '15 Bank managed on a fully-loaded basis very strong capital base Capital ratios significantly above target levels and regulatory requirements Capital ratios on a transitional basis (incl. interim profit): CET1 ratio 15.8% Total capital ratio 18.7% Dec '14 Sep '15 Disciplined capital allocation with focus on risk-adjusted returns RWA density of 48%... conservative ratio relative to European peers Dec '14 Sep '15 Running a low leverage business model % equity / total assets Deleveraging non-core assets / liabilities coupled with organic equity accretion Regulatory leverage ratio on a fully loaded basis of 6.5% 11

12 2015 Targets & Forecast 2015 Targets YTD Performance Net profit > 400m 320.3m Return on equity > 14% 16.9% Cost-income ratio < 50% 46.7% NPL ratio < 2.5% 2.2% CET1 ratio (FF) > 12% 14.9% Total capital ratio (FF) > 16% 17.9% Leverage ratio (FF) > 6% 6.5% Liquidity coverage ratio > 100% 138% Consumer lending market share 9% 10% FY 2015 Forecast Net profit + RoE ++ CIR ++ NPL + CET1 ++ Total capital ++ Leverage ++ Liquidity coverage + Consumer lending ++ 12

13 IMPORTANT DISCLAIMER: This presentation is prepared solely for the purpose of providing general information about BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft, Georg-Coch-Platz 2, 1018 Wien ( BAWAG P.S.K. ). The information does not constitute investment or other advice or any solicitation to participate in investment business. This presentation does not constitute an offer or recommendation to purchase any securities or other investments or financial products. In respect of any information provided past performances do not permit reliable conclusion to be drawn as to the future performances. BAWAG P.S.K. does not make any representation, express or implied, as to the accuracy, reliability or completeness of the information contained in this presentation. BAWAG P.S.K. disclaims all warranties, both express and implied, with regard to the information contained in this presentation. Actual results may vary from forecasts and variations may be materially positive or negative. In no event shall BAWAG P.S.K. be liable for any loss, damages, costs or other expenses of any kind (including, but not limited to, direct, indirect, consequential or special loss or loss of profit) arising out of or in connection with any use of, or any action taken in reliance on, any information contained in this presentation. BAWAG P.S.K. assumes no obligation for updating the provided information in this presentation. The content in this presentation are not to be relied upon as a substitute for professional advice. This presentation shall not be forwarded to any third party. 13

14 Annex Definitions B/S leverage Total assets / IFRS equity Common Equity Tier 1 capital (CET1) Based on IFRS CRR regulatory figures (BAWAG P.S.K. Group) including interim profit and year-to-date loan-loss provision movements, excluding any transitional capital (fully loaded) Common Equity Tier 1 capital ratio Common Equity Tier 1 capital (CET1) / risk-weighted assets Cost-income ratio (C/I ratio) Operating expenses (OPEX) / operating income IFRS equity Equity attributable to the owners of the parent; excluding participation capital and minorities Net interest margin (NIM) Net interest income (NII) / average total assets NPL ratio Non-performing loans (NPLs) / loans and receivables (incl. provisions); loans are not included in NPLs if no economic loss is expected 1) Regulatory leverage ratio Common Equity Tier 1 capital (CET1) / total exposure (calculation according to CRR, based on Promontoria Sacher Holding N.V. Group) Return on equity (RoE) Net profit / average IFRS equity Return on risk-weighted assets (RoRWA) Net profit / average risk-weighted assets Risk costs / loans and receivables (L&R) Provisions and loan-loss provisions as well as impairment losses (total risk costs) / average loans and receivables (including provisions) Risk-weighted assets (RWA) Based on IFRS CRR regulatory figures (BAWAG P.S.K. Group, fully loaded) RWA density RWA / total assets Total capital Based on IFRS CRR regulatory figures (BAWAG P.S.K. Group) including interim profit and year-to-date loan-loss provision movements, excluding any transitional capital (fully loaded) Total capital ratio Total capital / risk-weighted assets 1) For prior reporting dates please refer to the definitions in the respective annual and quarterly reports. 14

2015 Earnings. March 3, 2016. March 3, 2016 BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft

2015 Earnings. March 3, 2016. March 3, 2016 BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft 2015 Earnings March 3, 2016 Highlights 2015 Delivering strong results all 2015 goals outperformed Financial & business highlights Net profit of 418m, up 26% vpy RoE of 16.2% Increasing net interest income

More information

BAWAG P.S.K. REPORTS 2014 RECORD NET PROFIT OF EUR 333 MILLION, +45%

BAWAG P.S.K. REPORTS 2014 RECORD NET PROFIT OF EUR 333 MILLION, +45% BAWAG P.S.K. REPORTS RECORD NET PROFIT OF EUR 333 MILLION, +45% Net profit EUR 333 million, +45% versus prior year Return on equity 14.9%, +3.3pts Core revenues EUR 890 million, +16% Operating expenses

More information

Gjensidige Bank. Investor Presentation Q May 2015

Gjensidige Bank. Investor Presentation Q May 2015 Gjensidige Bank Investor Presentation Q1 2015 6. May 2015 Content Gjensidige and Gjensidige Bank in brief Financial performance Funding overview Appendix Gjensidige Bank in Brief KEY FINANCIALS 1 st QUARTER

More information

SBERBANK GROUP S IFRS RESULTS. March 2015

SBERBANK GROUP S IFRS RESULTS. March 2015 SBERBANK GROUP S IFRS RESULTS 2014 March 2015 SUMMARY OF PERFORMANCE FOR 2014 STATEMENT OF PROFIT OR LOSS Net profit reached RUB 290.3bn (or RUB 13.45 per ordinary share), compared to RUB 362.0bn (or RUB

More information

Second Quarter Results 2014 Investor presentation

Second Quarter Results 2014 Investor presentation Second Quarter Results 2014 Investor presentation Second Fourth Quarter and Results 2015 Full Year Results 2014 Press conference Christian Investor Clausen, presentation President and Group CEO Christian

More information

Banque Saudi Fransi. Third Quarter 2011 Financial Results. Philippe Touchard, Chief Financial Officer BSF / CFO

Banque Saudi Fransi. Third Quarter 2011 Financial Results. Philippe Touchard, Chief Financial Officer BSF / CFO Banque Saudi Fransi Third Quarter 2011 Financial Results Philippe Touchard, Chief Financial Officer BSF / CFO BSF / CFO 1. Financial Performance BSF Overall Performance Key Financials Recent developments

More information

Gjensidige Bank. Investor Presentation Q November 2014

Gjensidige Bank. Investor Presentation Q November 2014 Gjensidige Bank Investor Presentation Q3 2014 18. November 2014 Agenda Gjensidige and Gjensidige Bank in brief Financial performance Funding overview Gjensidige Bank Boligkreditt Appendix Gjensidige Bank

More information

Sberbank Group s IFRS Results for 6 Months 2013. August 2013

Sberbank Group s IFRS Results for 6 Months 2013. August 2013 Sberbank Group s IFRS Results for 6 Months 2013 August 2013 Summary of 6 Months 2013 performance: Income Statement Net profit reached RUB 174.5 bn (or RUB 7.95 per ordinary share), a 0.5% decrease on RUB

More information

Raiffeisen Bank International H1/2015 Results

Raiffeisen Bank International H1/2015 Results Raiffeisen Bank International H1/2015 Results Disclaimer Certain statements contained herein may be statements of future expectations and other forward-looking statements, which are based on management's

More information

Good year. Bank Zachodni WBK Group performance for 2009. Warszawa, 2 nd March 2010

Good year. Bank Zachodni WBK Group performance for 2009. Warszawa, 2 nd March 2010 Good year Bank Zachodni WBK Group performance for 2009 Warszawa, 2 nd March 2010 Disclaimer This presentation as regards the forward looking statements is exclusively informational in nature and cannot

More information

When the going get tough...

When the going get tough... When the going get tough... Fondsfinans Research Sparebank 1 SR Bank 4Q14 Update Recommendation: BUY Target NOK 69 6 February 2015 Prepared by Analyst: Geir Kristiansen, Fondsfinans AS, tel: 23 11 30 11,

More information

YE08 Consolidated Financial Results. February 13, 2009

YE08 Consolidated Financial Results. February 13, 2009 YE08 Consolidated Financial Results February 13, 2009 1 We support our strategy with strong risk management Proven risk management track record and the highest credit ratings given to a bank in Turkey

More information

SUB: STANDARD CHARTERED PLC (THE "COMPANY") STOCK EXCHANGE ANNOUNCEMENT

SUB: STANDARD CHARTERED PLC (THE COMPANY) STOCK EXCHANGE ANNOUNCEMENT April 26, 2016 To, Ms. D'souza AVP, Listing Department National Stock Exchange of India Exchange Plaza Bandra Complex Bandra (East) 400 001 Limited SUB: STANDARD CHARTERED PLC (THE "COMPANY") STOCK EXCHANGE

More information

Q3 INTERIM MANAGEMENT STATEMENT Presentation to analysts and investors. 28 October 2014

Q3 INTERIM MANAGEMENT STATEMENT Presentation to analysts and investors. 28 October 2014 INTERIM MANAGEMENT STATEMENT Presentation to analysts and investors 28 October HIGHLIGHTS FOR THE FIRST NINE MONTHS OF Continued successful execution of our strategy and further improvement in financial

More information

Frankfurt am Main April 28, Deutsche Bank reports first quarter 2016 net income of 236 million euros. EUR bn 1Q2016 change EUR bn 1Q2016 change

Frankfurt am Main April 28, Deutsche Bank reports first quarter 2016 net income of 236 million euros. EUR bn 1Q2016 change EUR bn 1Q2016 change Release Frankfurt am Main April 28, 2016 Deutsche Bank reports first quarter 2016 net income of 236 million euros Group results at a glance Core business revenues EUR bn 1Q2016 change EUR bn 1Q2016 change

More information

Annual Accounts 2015 Press conference. Annika Falkengren President & CEO

Annual Accounts 2015 Press conference. Annika Falkengren President & CEO Annual Accounts 2015 Press conference Annika Falkengren President & CEO 1 Highlights 2015 Exceptional times Market volatility Strengthened resilience 2 Repricing of risk Swedish credit spreads 5y covered

More information

Deutsche Wohnen AG.» Investor Presentation. September 2010

Deutsche Wohnen AG.» Investor Presentation. September 2010 Deutsche Wohnen AG» Investor Presentation September 21 1 » Agenda 1 2 3 4 Introduction to Deutsche Wohnen Portfolio Overview and Operations Financial Highlights Guidance and Strategic Objectives 2 » 1

More information

Achmea Bank update Strategy for growth. 26 May 2016 Ronald Buwalda Leiden

Achmea Bank update Strategy for growth. 26 May 2016 Ronald Buwalda Leiden Achmea Bank update Strategy for growth 26 May 2016 Ronald Buwalda Leiden Key messages A solid pillar of the retirement services strategy and a good investment opportunity Achmea Bank is strategically anchored

More information

H1 2014 IFRS Results. August 2014

H1 2014 IFRS Results. August 2014 H 4 IFRS Results August 4 Important Notice By attending the meeting where the presentation is made, or by reading the presentation slides, you agree to the following limitations and notifications and represent

More information

Financial Data Supplement 2Q2013

Financial Data Supplement 2Q2013 Deutsche Bank Financial Data Supplement 2Q2013 30 July 2013 1 2 2Q2013 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Group Core Bank Non-Core Operations Unit 3 Consolidated Statement

More information

NN GROUP FINANCIAL SUPPLEMENT 4Q2014

NN GROUP FINANCIAL SUPPLEMENT 4Q2014 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Rounding could

More information

CONSOLIDATED ANNUAL REPORT

CONSOLIDATED ANNUAL REPORT CONSOLIDATED ANNUAL REPORT 2014 1 BAWAG P.S.K. CONSOLIDATED ANNUAL REPORT 2014 2014 HIGHLIGHTS March June July August EUR 350 million redemption of remaining participation capital from Republic of Austria

More information

Financial Data Supplement 1Q2016

Financial Data Supplement 1Q2016 Deutsche Bank Financial Data Supplement 1Q2016 28 April 2016 1Q2016 Financial Data Supplement Due to rounding, numbers presented throughout this document may not add up precisely to the totals we provide

More information

ISBANK EARNINGS PRESENTATION 2016 Q1

ISBANK EARNINGS PRESENTATION 2016 Q1 ISBANK EARNINGS PRESENTATION 2016 Q1 2016 Q1 Recent Developments in the Economy Binler Global Outlook Main Indicators of Turkey US EA Moderate expansion in the US economy Solid labor market data Still

More information

Solid operating profit in Q1 2016 28 April 2016

Solid operating profit in Q1 2016 28 April 2016 Investor Presentation Solid operating profit in Q1 2016 28 April 2016 Árni Ellefsen, CEO Disclaimer This presentation contains statements regarding future results, which are subject to risks and uncertainties.

More information

HYPO ALPE ADRIA INVESTOR RELATIONS PRESENTATION OF RESULTS H1/2014. Klagenfurt, August 28 th 2014. SEE Group. AUSTRIA (sold) HYPO ITALY (Wind Down)

HYPO ALPE ADRIA INVESTOR RELATIONS PRESENTATION OF RESULTS H1/2014. Klagenfurt, August 28 th 2014. SEE Group. AUSTRIA (sold) HYPO ITALY (Wind Down) HYPO ALPE ADRIA INVESTOR RELATIONS PRESENTATION OF RESULTS H1/2014 Germany Klagenfurt, August 28 th 2014 SEE Group AUSTRIA (sold) HYPO ITALY (Wind Down) ASSET RESOLUTION (Wind Down) H1/2014 Results: Executive

More information

When the going get tough...

When the going get tough... When the going get tough... Fondsfinans Research Sparebank 1 SR Bank 2Q15 Preview Recommendation: BUY Target NOK 62 3 July 2015 Prepared by Analyst: Geir Kristiansen, Fondsfinans AS, tel: 23 11 30 11,

More information

When the going get tough...

When the going get tough... When the going get tough... Fondsfinans Research Sparebank 1 SR Bank 2Q15 Update Recommendation: BUY Target NOK 62 13 August 2015 Prepared by Analyst: Geir Kristiansen, Fondsfinans AS, tel: 23 11 30 11,

More information

Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015

Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Press release For business desks 7 May 2015 Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Revenues before loan loss provisions in the Group increased year-on-year

More information

Update on 2014 and strategic priorities. Morgan Stanley 11 th Annual European Financials Conference Torsten Hagen Jørgensen, Group CFO

Update on 2014 and strategic priorities. Morgan Stanley 11 th Annual European Financials Conference Torsten Hagen Jørgensen, Group CFO Update on 2014 and strategic priorities Morgan Stanley 11 th Annual European Financials Conference Torsten Hagen Jørgensen, Group CFO Disclaimer This presentation contains forward-looking statements that

More information

Second Quarter 2015 Trading Update. 28 September 2015

Second Quarter 2015 Trading Update. 28 September 2015 Second Quarter 2015 Trading Update 28 September 2015 Disclaimer This communication and the information contained herein has been approved by the Board of Directors of Eurobank Ergasias S.A. ( Eurobank

More information

2013 Annual Results. D. Francisco Gómez Martín CEO. Madrid, January 31 st, 2014

2013 Annual Results. D. Francisco Gómez Martín CEO. Madrid, January 31 st, 2014 2013 Annual Results D. Francisco Gómez Martín CEO Madrid, January 31 st, 2014 Disclaimer This presentation has been prepared by Banco Popular Español solely for purposes of information. It may contain

More information

Strategic Update. James P. Gorman, Chairman and Chief Executive Officer. January 19, 2016

Strategic Update. James P. Gorman, Chairman and Chief Executive Officer. January 19, 2016 Strategic Update James P. Gorman, Chairman and Chief Executive Officer January 19, 2016 Notice The information provided herein may include certain non-gaap financial measures. The reconciliation of such

More information

Standard Chartered today releases its Interim Management Statement for the third quarter of 2015.

Standard Chartered today releases its Interim Management Statement for the third quarter of 2015. Standard Chartered PLC Interim Management Statement 3 November 2015 Standard Chartered today releases its Interim Management Statement for the third quarter of 2015. Bill Winters, Group Chief Executive,

More information

Webcast and Conference call 1H 2016 financial results

Webcast and Conference call 1H 2016 financial results Webcast and Conference call 1H 216 financial results 22 August 216 Vladimir Chubar CEO, Member of the Supervisory Board Eric de Beauchamp Senior Vice President Financial highlights Key metrics of financial

More information

Financial Data Supplement 4Q2011

Financial Data Supplement 4Q2011 Deutsche Bank Financial Data Supplement 4Q2011 20 March 2012 4Q2011 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Consolidated Statement of Income 3 Net revenues 4 Net interest

More information

2016 First Quarter Results Presentation to Investors & Analysts. April 2016

2016 First Quarter Results Presentation to Investors & Analysts. April 2016 2016 First Quarter Results Presentation to Investors & Analysts April 2016 Disclaimer The information presented herein is based on sources which Access Bank Plc. (the Bank ) regards dependable. This presentation

More information

Q4.14 Financial Results. March 23, 2015

Q4.14 Financial Results. March 23, 2015 Q4.14 Financial Results March 23, 2015 Table of Contents 1 Results overview 2 Liquidity 3 Profitability 4 Asset quality 5 Capital 6 Appendix Results overview 1 4Q14 results: key take-aways Liquidity Group

More information

Q3 2014 IFRS Results. November 2014

Q3 2014 IFRS Results. November 2014 Q3 4 IFRS Results November 4 Important Notice By attending the meeting where the presentation is made, or by reading the presentation slides, you agree to the following limitations and notifications and

More information

Raiffeisen Bank International FY 2014 Results & Strategic Update

Raiffeisen Bank International FY 2014 Results & Strategic Update Raiffeisen Bank International FY 2014 Results & Strategic Update Disclaimer Certain statements contained herein may be statements of future expectations and other forward-looking statements, which are

More information

Strategic and Operational Overview May 11, 2016

Strategic and Operational Overview May 11, 2016 Strategic and Operational Overview May 11, 2016 Safe Harbor Statement This presentation contains several forward-looking statements. Forward-looking statements are those that use words such as believe,

More information

Sandnes Sparebank (SADG)

Sandnes Sparebank (SADG) (SADG) BUY Initial Coverage Share Price: NOK 77.0 25 September 2013 Target Price: NOK 106.0 Share data Sector Banks Bloomberg SADG NO Equity Risk rating Low Outstanding shares (million) 7.1 Market cap

More information

COMMERCIAL INTERNATIONAL BANK ( CIB ) REPORTS RECORD FULL-YEAR 2015 CONSOLIDATED REVENUE OF EGP 10.2 BILLION AND RECORD NET INCOME OF EGP 4

COMMERCIAL INTERNATIONAL BANK ( CIB ) REPORTS RECORD FULL-YEAR 2015 CONSOLIDATED REVENUE OF EGP 10.2 BILLION AND RECORD NET INCOME OF EGP 4 News Release 10 February 2016 Commercial International Bank (Egypt) SAE Nile Tower, 21/23 Charles de Gaulle Street, Giza 11511, Egypt www.cibeg.com EGX Symbol: COMI COMMERCIAL INTERNATIONAL BANK ( CIB

More information

Recommended Offer for Alliance & Leicester. 14 July 2008

Recommended Offer for Alliance & Leicester. 14 July 2008 Recommended Offer for Alliance & Leicester 4 July 008 Disclaimer This document does not constitute an offer to sell, or an invitation to subscribe for or purchase, any securities or the solicitation of

More information

Nationwide Building Society

Nationwide Building Society Nationwide Building Society Interim Management Statement Q3 2015/16 Underlying profit Statutory profit before tax has been adjusted for a number of items, consistent with prior periods, to derive an underlying

More information

Frankfurt am Main 29 April 2014. Deutsche Bank reports first quarter 2014 income before income taxes of EUR 1.7 billion

Frankfurt am Main 29 April 2014. Deutsche Bank reports first quarter 2014 income before income taxes of EUR 1.7 billion Release Frankfurt am Main 29 April 2014 Deutsche Bank reports first quarter 2014 income before income taxes of EUR 1.7 billion Group results Income before income taxes (IBIT) of EUR 1.7 billion, down 30%

More information

Bank of America Merrill Lynch 2013 Banking & Financial Services Conference. Robert J. McCann CEO, UBS Group Americas CEO, Wealth Management Americas

Bank of America Merrill Lynch 2013 Banking & Financial Services Conference. Robert J. McCann CEO, UBS Group Americas CEO, Wealth Management Americas Bank of America Merrill Lynch 2013 Banking & Financial Services Conference Robert J. McCann CEO, UBS Group Americas CEO, Wealth Management Americas November 13, 2013 Cautionary statement regarding forward-looking

More information

Exane BNP Paribas Spain Investors Day

Exane BNP Paribas Spain Investors Day Exane BNP Paribas Spain Investors Day Francisco Sancha, CFO Madrid, January 13 th, 2015 Disclaimer This presentation has been prepared by Banco Popular Español solely for purposes of information. It may

More information

Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft 7 February 2013 Deutsche Bank Aktiengesellschaft Fourth Supplemental Registration Document Pursuant to Art. 5 (3) of the Directive 2003/71/EC and 12 (1) 3 German Securities Prospectus Act (Wertpapierprospektgesetz)

More information

SEB January June 2013 Results presentation. Telephone conference

SEB January June 2013 Results presentation. Telephone conference SEB January June 2013 Results presentation Telephone conference Highlights Q2 2013 1 2 Higher business activity among large corporates and institutions More full-service retail customers 3 Strong asset

More information

Fixed Income Investor Presentation DBS Group May 2016

Fixed Income Investor Presentation DBS Group May 2016 Fixed Income Investor Presentation DBS Group May 2016 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed

More information

Introduction to mbank Group The most successful organic growth story in Poland

Introduction to mbank Group The most successful organic growth story in Poland Introduction to mbank Group The most successful organic growth story in Poland August 2015 mbank Group in a snapshot General description Key financial data (PLN M) Set up in 1986, mbank (originally BRE

More information

Eagle Asset Management. REIT manager. Analyst Presentation. Acquisition of 3 Floors of Citibank Tower 4Q 2006 Version 1.0. Eagle Asset Management

Eagle Asset Management. REIT manager. Analyst Presentation. Acquisition of 3 Floors of Citibank Tower 4Q 2006 Version 1.0. Eagle Asset Management REIT manager Analyst Presentation Acquisition of 3 Floors of Citibank Tower 4Q 2006 Version 1.0 1 Important Notice This document may contain information which is proprietary, confidential and/or legally

More information

Deutsche Bank 4Q/FY2013 results

Deutsche Bank 4Q/FY2013 results 4Q/FY2013 results All figures reported herein are preliminary and unaudited. 's 2013 Financial Report and Annual Report on Form 20-F, including the audited financial statements, are scheduled to be filed

More information

Q2 2014 Results. 1 August 2014

Q2 2014 Results. 1 August 2014 Q2 204 Results August 204 We are 5 months into our journey to create a bank that earns your trust Early progress encouraging UK franchises showing signs of growth Costs consistently reduced Impairments

More information

Bank Millennium S.A. Date: 3 rd February Current Report No. 8/2014

Bank Millennium S.A. Date: 3 rd February Current Report No. 8/2014 Bank Millennium S.A. Date: 3 rd February 2014 Current Report No. 8/2014 SUBJECT: Preliminary 2013 results of Bank Millennium Group. Bank Millennium Group (the Group ) consolidated net profit in 2013 reached

More information

Conference Call Q1-2015/2016

Conference Call Q1-2015/2016 Conference Call Q1-2015/2016 DIRK KALIEBE August 12, 2015 Highlights Q1-2015/2016 Strategic reorientation is taking effect Good order situation, improved backlog Strong revenue growth due to solid order

More information

9M2015 GMPS Results. Fabrizio Viola CEO & General Manager

9M2015 GMPS Results. Fabrizio Viola CEO & General Manager 9M2015 GMPS Results Fabrizio Viola CEO & General Manager 6 th November 2015 Results Highlights CET1 ratio fully loaded at 11.7% (approx. +100bps vs. Jun-15 proforma * ) and CET1 transitional at 12% (+67bps

More information

Investors Day Commerzbank s financials and Key performance indicators

Investors Day Commerzbank s financials and Key performance indicators Frankfurt, September 21, 2006 Investors Day Commerzbank s financials and Key performance indicators Eric Strutz Chief Financial Officer Disclaimer / investor relations / All presentations shown at Investors

More information

Revenues in Core Bank stabilising - accelerated de-risking in NCA

Revenues in Core Bank stabilising - accelerated de-risking in NCA Revenues in Core Bank stabilising - accelerated de-risking in NCA 18th Annual Banking & Insurance CEO Conference 2013 In a challenging market environment solid results in the Core Bank - NCA run-down target

More information

Earnings Conference Call January 28, 2015

Earnings Conference Call January 28, 2015 Fourth Quarter 2014 Earnings Conference Call January 28, 2015 Steven G. Bradshaw Chief Executive Officer Daniel H. Ellinor Chief Operating Officer Steven Nell Chief Financial Officer Stacy Kymes Chief

More information

The case for high yield

The case for high yield The case for high yield Jennifer Ponce de Leon, Vice President, Senior Sector Leader Wendy Price, Director, Institutional Product Management We believe high yield is a compelling relative investment opportunity

More information

Development of the Client-Focused, Capital-Efficient Business Model

Development of the Client-Focused, Capital-Efficient Business Model Development of the Client-Focused, Capital-Efficient Business Model David Mathers, Chief Operating Officer, Investment Bank at the Goldman Sachs European Financials Conference, Madrid, June 10, 2010 Cautionary

More information

FY 2010 Results RBI incl. Update on Polbank Acquisition. Herbert Stepic CEO of RBI Martin Grüll CFO of RBI Johann Strobl CRO of RBI

FY 2010 Results RBI incl. Update on Polbank Acquisition. Herbert Stepic CEO of RBI Martin Grüll CFO of RBI Johann Strobl CRO of RBI FY 2010 Results RBI incl. Update on Polbank Acquisition Herbert Stepic CEO of RBI Martin Grüll CFO of RBI Johann Strobl CRO of RBI Disclaimer Certain statements contained herein may be statements of future

More information

2Q 2013 Earnings. Growth according to expectations. 13 August 2013. 13 August 2013 Growth according to expectations 1

2Q 2013 Earnings. Growth according to expectations. 13 August 2013. 13 August 2013 Growth according to expectations 1 2Q 2013 Earnings Growth according to expectations 13 August 2013 13 August 2013 Growth according to expectations 1 Disclaimer This presentation does not constitute or form any part of an offer, invitation

More information

Results: BBVA earns 2.76 billion in the first half of the year

Results: BBVA earns 2.76 billion in the first half of the year January June 2015 Results: BBVA earns 2.76 billion in the first half of the year Activity: The BBVA Group s gross lending to customers increased 11% in the last year. In Spain, new production for loans

More information

Commerzbank: Strategy successful net profit of over 1 billion euros and dividend

Commerzbank: Strategy successful net profit of over 1 billion euros and dividend IR release 12 February 2016 Commerzbank: Strategy successful net profit of over 1 billion euros and dividend Operating profit in 2015 more than doubled to EUR 1,909 m (2014: EUR 689 m) Operating profit

More information

Investor Presentation Acquisition of General Electric s Transportation Finance Business

Investor Presentation Acquisition of General Electric s Transportation Finance Business Investor Presentation Acquisition of General Electric s Transportation Finance Business September 10, 2015 September 10, 2015 0 Forward Looking Statements & Non-GAAP Measures Caution Regarding Forward-Looking

More information

KBC s entry into Russia. KBC acquires majority stake in Absolut Bank

KBC s entry into Russia. KBC acquires majority stake in Absolut Bank KBC s entry into Russia KBC acquires majority stake in Absolut Bank 18 April 2007 Table of contents 1. The Transaction 2. The Russian banking environment 3. Absolut bank profile and strategy 2 Majority

More information

Banco Santander s profit rose 90% to EUR 4.370 billion in 2013

Banco Santander s profit rose 90% to EUR 4.370 billion in 2013 Press Release Banco Santander s profit rose 90% to EUR 4.370 billion in 2013 BUSINESS. Deposits were stable at EUR 607,836 million, while mutual funds grew by 14% to EUR 93,304 million. Loans decreased

More information

Share Capital Increase

Share Capital Increase Share Capital Increase Additional Information Pack Part 2 July 2014 Table of contents Margins and profitability - Interest earning assets decomposition 3 Asset quality - Recovery analysis 4 Capital - Q2

More information

Evaluation Process Update: Merger of RZB and RBI

Evaluation Process Update: Merger of RZB and RBI Evaluation Process Update: Merger of RZB and Disclaimer Certain statements contained herein may be statements of future expectations and other forward-looking statements about Raiffeisen Bank International

More information

E.SUN FHC Financial Review of 1Q 2015

E.SUN FHC Financial Review of 1Q 2015 E.SUN FHC Financial Review of 1Q 2015 May 2015 Disclaimer This Presentation is provided by E.SUN Financial Holding Co., Ltd. ( E.SUN FHC ). E.SUN makes no guarantee or warranties as to the accuracy or

More information

Figures Facts Targets. Overview Commerzbank Group

Figures Facts Targets. Overview Commerzbank Group Figures Facts Targets Overview Commerzbank Group Taking into account the changed market environment, Commerzbank has set up its new strategic agenda at Investors Day 2012 Main drivers of change to the

More information

Shaping the future relationship bank. Bernstein s strategic decisions conference 2015 Casper von Koskull, Head of Wholesale Banking and Incoming CEO

Shaping the future relationship bank. Bernstein s strategic decisions conference 2015 Casper von Koskull, Head of Wholesale Banking and Incoming CEO Shaping the future relationship bank Bernstein s strategic decisions conference 2015 Casper von Koskull, Head of Wholesale Banking and Incoming CEO The relationship bank business model has delivered 14

More information

NN GROUP FINANCIAL SUPPLEMENT 1Q2016

NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Figures are

More information

Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8%

Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% IR release 2 November 2015 Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% Operating profit in Group in third quarter at EUR 429 m (Q3 2014:

More information

The Westpac Group third quarter 2011 sound core earnings growth

The Westpac Group third quarter 2011 sound core earnings growth Media Release 16 August 2011 The Westpac Group third quarter 2011 sound core earnings growth Third quarter 2011 highlights (compared to results for the average of 1Q and 2Q 2011) 1 Cash earnings of approximately

More information

Morgan Stanley European Financials Conference. Bankia Overview. March 2014. Mr. Leopoldo Alvear - CFO Bankia

Morgan Stanley European Financials Conference. Bankia Overview. March 2014. Mr. Leopoldo Alvear - CFO Bankia Morgan Stanley European Financials Conference Bankia Overview March 2014 Mr. Leopoldo Alvear - CFO Bankia Contents 1. Strategy and restructuring plan 2. 2013 results 3. Asset quality and risk management

More information

H1 2012 Earnings Presentation. BRSA Bank Only

H1 2012 Earnings Presentation. BRSA Bank Only BRSA Bank Only Macro Outlook Q1 GDP growth at 3.2%, mostly backed by net exports. Budget deficit was TRY 6.7 billion in H1 12, one third of Latest GDP figure is supportive of the soft landing the government

More information

First Quarter 2011 Results Underlying net profit increased 61.6% to EUR 1,492 mln

First Quarter 2011 Results Underlying net profit increased 61.6% to EUR 1,492 mln First Quarter 2011 Results Underlying net profit increased 61.6% to EUR 1,492 mln Jan Hommen CEO Amsterdam 5 May 2011 www.ing.com ING Group posted strong first-quarter results ING Group underlying net

More information

Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects

Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects Press release For business desks 7 November 2013 Commerzbank: operating profit of EUR 103 m in third quarter Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects Annual

More information

Business and Financial Highlights Nine Months Ended December 31, 2014. Shinsei Bank, Limited January 2015

Business and Financial Highlights Nine Months Ended December 31, 2014. Shinsei Bank, Limited January 2015 Business and Financial Highlights Nine Months Ended December 31, 214 Shinsei Bank, Limited January 215 Table of Contents Q3 FY214 Results: Key Points ------------------------------------------ Q3 FY214

More information

Update following the publication of the Bank of England Stress Test. 16 December 2014

Update following the publication of the Bank of England Stress Test. 16 December 2014 Update following the publication of the Bank of England Stress Test 16 December 2014 Background Top 8 Banks Resilience Stress Tested by PRA following FPC recommendation in March 2013 Guidance for stress

More information

13 May 2015. 1Q2015 Financial Results

13 May 2015. 1Q2015 Financial Results 13 May 2015 1Q2015 Financial Results Forward Looking Statements Important information All information contained in this presentation should be regarded as preliminary and based on company data available

More information

Frankfurt am Main 26 April 2015. Deutsche Bank reports first quarter 2015 net income of EUR 559 million

Frankfurt am Main 26 April 2015. Deutsche Bank reports first quarter 2015 net income of EUR 559 million Release Frankfurt am Main 26 April 2015 Deutsche Bank reports first quarter 2015 net income of EUR 559 million Group results Income before income taxes (IBIT) of EUR 1.5 billion, a decrease of 12% from

More information

Bank Austria posts net profit of EUR 350 million for the first quarter

Bank Austria posts net profit of EUR 350 million for the first quarter Bank Austria IR Release Günther Stromenger +43 (0) 50505 57232 Vienna, 13 May 2014 Results for the first quarter of 2014: Bank Austria posts net profit of EUR 350 million for the first quarter Sound commercial

More information

Interim Financial Report 2015

Interim Financial Report 2015 Interim Financial Report 2015 ABN AMRO Bank N.V. Notes to the reader Introduction This is the Interim Financial Report for the year 2015 of ABN AMRO Bank N.V. (ABN AMRO Bank). ABN AMRO Bank N.V. is a wholly

More information

Second Quarter 2014 Results

Second Quarter 2014 Results Second Quarter 2014 Results Presentation to Media Disclaimer Cautionary statement regarding forward-looking statements This presentation contains forward-looking statements that involve inherent risks

More information

Important information

Important information 29 April 2014 1 Important information Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various places

More information

Time to reap synergies

Time to reap synergies Time to reap synergies Fondsfinans Research Sparebank 1 Østfold-Akershus - 4Q14 Update Recommendation: BUY Target NOK 180 16 February 2015 Prepared by Analyst: Geir Kristiansen, Fondsfinans AS, tel: 23

More information

U.S. Bancorp 1Q16 Earnings Conference Call

U.S. Bancorp 1Q16 Earnings Conference Call U.S. Bancorp 1Q16 Earnings Conference Call Richard K. Davis Chairman and CEO Kathy Rogers Vice Chairman and CFO April 2, 216 Forward-looking Statements and Additional Information The following information

More information

Arrow Reports Solid First Quarter Operating Results and Strong Asset Quality Ratios

Arrow Reports Solid First Quarter Operating Results and Strong Asset Quality Ratios 250 Glen Street Glens Falls, NY Contact: Timothy C. Badger Tel: (518)745-1000 Fax: (518)745-1976 TO: All Media DATE: Tuesday, April 19, 2011 Arrow Reports Solid First Quarter Operating Results and Strong

More information

Gjensidige Bank ASA Investor Presentation 2013. 19. March 2013

Gjensidige Bank ASA Investor Presentation 2013. 19. March 2013 Gjensidige Bank ASA Investor Presentation 2013 19. March 2013 Agenda Gjensidige Bank in Brief (Hans Harèn - GB CEO) p. 3-6 Gjensidige Group capital position (Linn Soltvedt - Investor Relations Officer)

More information

Credit Suisse Financial Services Forum

Credit Suisse Financial Services Forum Credit Suisse Financial Services Forum John Shrewsberry Chief Financial Officer February 9, 2016 2016 Wells Fargo & Company. All rights reserved. Wells Fargo Vision We want to satisfy our customers financial

More information

Raiffeisen Bank International Q3/2014 Results. Karl Sevelda CEO Martin Grüll CFO Johann Strobl CRO

Raiffeisen Bank International Q3/2014 Results. Karl Sevelda CEO Martin Grüll CFO Johann Strobl CRO Raiffeisen Bank International Q3/2014 Results Karl Sevelda CEO Martin Grüll CFO Johann Strobl CRO Disclaimer Certain statements contained herein may be statements of future expectations and other forward-looking

More information

Dubai Islamic Bank Group Nine Months Financial Results Net profit up by 36% to AED 2,801 million

Dubai Islamic Bank Group Nine Months Financial Results Net profit up by 36% to AED 2,801 million Press Release: Dubai Islamic Bank Group Nine Months Financial Results Net profit up by 36% to AED 2,801 million Dubai, October 28, Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and

More information

Cost control, declining risk costs & higher capital ratios

Cost control, declining risk costs & higher capital ratios Erste Group investor presentation Cost control, declining risk costs & higher capital ratios Andreas Treichl, CEO, Erste Group Manfred Wimmer, CFO, Erste Group Gernot Mittendorfer, CRO, Erste Group Disclaimer

More information