LEADING AS A DEVELOPMENT BANK An Introduction to BDC. Michel Bergeron, Senior Vice-President, Marketing & Public Affairs

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1 LEADING AS A DEVELOPMENT BANK An Introduction to BDC Michel Bergeron, Senior Vice-President, Marketing & Public Affairs November 6, 2012 December

2 Most Canadian employer firms are small Distribution of Employer firms by Size (Number of employees) * Indeterminate businesses (those that do not have employees registered with the Canada Revenue Agency) represent 53.1% (1,289,509) of total businesses (2,428,270) SOURCE: STATISTICS CANADA, BUSINESS REGISTER, DECEMBER

3 Business Size SMEs provide 64% of private sector employment % of private sector employment by size and industry Small 36.8% 11.4% 48.3% Services 64% Medium 10.7% 4.9% 15.6% Goods 0% 10% 20% 30% 40% 50% 60% SOURCE: STATISTICS CANADA, SURVEY OF EMPLOYMENT PAYROLLS AND HOURS, APRIL

4 Helping Canada s Development Our mission: > Help create and develop Canadian businesses through financing, venture capital and consulting services, with a focus on SMEs Our vision: > Accelerate the success of entrepreneurs Who we are: > 65 years serving Canadian entrepreneurs > Catalyst for commercialization > Complementary role 4

5 By Helping SMEs Development > We help build Canadian business capacity through: Financing: term financing for projects and working capital Subordinate financing: hybrid debt and equity financing Venture capital: direct and indirect investments in high technology companies Consulting services Securitization What BDC does > BDC finances higher risk transactions (manufacturers, exporters, innovators, cyclical sectors), and prices accordingly 5

6 A trusted lender, investor, advisor and partner BUSINESS LINES (numbers are as at March 31, 2012, unless otherwise specified) FINANCING SUBORDINATE FINANCING VENTURE CAPITAL CONSULTING SECURITIZATION $17B $500M Committed $1B 2,236 Committed Current and planned Mandates investments $670M ABS outstanding under CSCF 1 $440M Authorized under F-PIL 2 1 CSCF=Canadian Secured Credit Facility 2 F-PIL=Funding Platform for Independent Lenders. F-PIL was formally known as the Vehicle and Equipment Financing Partnership (VEFP) 6

7 Risk Profile of BDC Portfolio ($) Investment Grade BDC Loans ($) Subinvestment Grade 80% 70% 60% 50% 40% 30% 20% 10% 0% 74% 18% 8% 0% 0% AAA to A- BBB+ to BBB- BB+ to B+ B to CCC+ CCC and CCC- SOURCE: STANDARD & POOR S RATINGS 7

8 Key performance indicators F2012 Indicator Actual 2012 Employee Engagement N/A Efficiency Ratio* 40.3% Acceptances** Financing Portfolio Growth (loans outstanding) $3,787 M 5.8% BDC Venture Capital return of capital*** 0.95 Adjusted consolidated net income**** Return on equity (10-year moving average) $533 M 7.6% * Operating and administrative expenses, as a percentage of net interest income and other income (includes only BDC Financing and excludes net unrealized gains or losses on other financial instruments). The lower the ratio, the better the efficiency achieved. ** Including BDC Financing and BDC Subordinate Financing. *** Return on each $1 disbursed (includes both direct and funds investment). **** Excludes net unrealized gains or losses on other financial instruments. 8

9 BDC s clients impact > They employ over 650,000 people > They generate $178 billion in annual sales, including $22 billion in export revenue > Over the last 17 years, BDC has extended $33.3B in financing and subordinate financing to over 62,000 Canadian companies 9

10 A truly complementary role BDC counter-cyclical role BDC vs. Total Business Credit (3-month % change, annualized) VOLATILITY STABILITY FINANCIAL CRISIS RECOVERY 40.0% 35.0% 30.0% 25.0% 20.0% 9/ % US RECESSION GLOBAL CREDIT CRUNCH 35.1% 15.0% 10.0% 5.0% 0.0% -1.1% -1.2% -5.0% 01/04/ /04/ /04/ /04/ /04/ /04/ /04/ /04/ /04/ /04/ /04/ /04/ /04/2012 Total Business Credit CANADA (3-month % change annualized) BDC Portfolio Commitment (3-month % change annualized) Source: Bank of Canada, Total Business Credit data as of April BDC Portfolio data as of June

11 Keys to BDC Success > Clear mandate SME focus > Complementary to private sector FIs > Taking more risk and getting compensated for it > Strong risk management culture > Effective governance > Isolate the politics from the credit adjudication process 11

12 Thank you INFO BDC bdc.ca Business Development INFO Bank BDC of Canada Head Office 5 Place Ville Marie, Suite 300, Montréal, Quebec bdc.ca H3B 5E7 12

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