2006 BRSA RESULTS INVESTOR PRESENTATION

Transcription

1 2006 BRSA RESULTS INVESTOR PRESENTATION

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3 TSKB BANKING SECTOR vs TSKB APPENDICES 3

4 TSKB at a Glance... Ownership Structure* 8.4% Main Subsidiaries Yatõrõm Finansman Securities 50.1% 41.5% Free Float** İş Leasing TSKB Real Estate Appraisal TSKB Real Estate Investment Trust * 50% of stocks are quoted at ISE. ** 27% foreign participation (54% of the free float stocks) Financial Summary (USD mn) Credit Rating B1 BB- Assets 2,881 Loans 1,757 Equity 418 Net Income 75 Paid-in Capital 300 mn TRY 4

5 Mission MISSION Coupling reliable, objective, customer oriented development banking with dynamic investment banking activities!to promote the growth of private sector!to encourage and assist local and foreign capital to participate in Turkish companies!to contribute to the growth of capital markets in Turkey 5

6 History Established with the support of CBT and IBRD to promote the private sector in Turkey Issued Samurai Bonds with Turkish Treasury guarantee Merged with Sõnai Yatõrõm Bankasõ (SYB) s 1980 s 1990 s 2000 s Corporate bonds issued and underwritten Promoted private investment in underdeveloped regions Market leader in investment banking activities Start of APEX banking activities Public offerings from equity portfolio 6

7 Core Business Lines Corporate & Development Banking Investment Banking Treasury Asset Management & Brokerage "Medium & Longterm Financing to Private Sector (more than 4000 companies) "Strong Project Finance capabilities "Longstanding relations with solid corporate base "Well-diversified sector coverage "Trade Finance "IPOs; SPOs "M&As "Financial and Management Consultancy "Corporate Restructuring "Rendering intermediary services for the futures and options traded in the Turkish Derivatives Exchange (TURKDEX) "Fixed Income "Treasury Marketing Unit (TMU) "Structured Products "Asset Management "TSKB Mutual Funds have secured stable returns "High levels at the fund performance listings 7

8 Main Participations Entity Sector TSKB Ownership Capital (mn TRY) Market Price* (mn TRY) Yatõrõm Finansman Securities Financial 88.76% 11.7 Not listed TSKB Real Estate Investment Trust Financial 96.00% 10.0 Not listed İş Leasing Financial 28.56% TSKB Investment Company Trust Financial 29.75% Yatõrõm Finansman Investment Company Trust Financial 10.78% İş Venture Capital Investment Trust Financial 16.67% İş Factoring Financial 14.75% 16.0 Not listed TSKB Real Estate Appraisal Real Estate 80.00% 0.3 Not listed *, as of February 13, 2007 Total book value of EIB Venture Capital Participations as of 2006 are 10 USD mn 8

9 Medium&Long Term Funds by Multilateral Agencies European Investment Bank (EIB) World Bank (IBRD) Japan Bank for International Cooperation (JBIC) Kreditanstalt für Wiederaufbau (KfW) Council of Europe Development Bank (CEB) International Finance Corporation (IFC) Agence Française de Développement (AFD) Instituto de Credito Oficial of the Kingdom of Spain 9

10 Funding Base (mn) Amount Tenor Maturity 10

11 Funding Base (mn) Amount Tenor Maturity 11

12 Funding Base By Sources Currency Risk Structure (USD mn) 1.8% 7.2% EIB CEB 1.8% 35.5% 5.6% AFD JBIC (mn USD) Total Assets Total Liabilities Net On-Balance Sheet Position USD 1,017 1, EUR 992 1, JPY Total 2,079 2, % IBRD KFW IFC Net Off-Balance Sheet Position Net % 4.7% 7.7% Murabaha Syndication Largest share in TSKB s funding base belongs to EIB, followed by IBRD No currency No maturity No interest rate mismatches 72% of Total Assets and 74% of Total Liabilities are F/C denominated 12

13 Sustainable Growth Over the Years Total Assets (USD mn) Funds Borrowed (USD mn) 1,707 2,466 2,881 78% of the Long Term Funds borrowed are guaranteed by the Turkish Treasury. 1,386 2,010 2,422 Total Loans (USD mn) Shareholders Equity (USD mn) 2,000 1,500 1, ,038 61% 1,329 53% 1,757 61% 80% 70% 60% 50% 40% Loans/Assets is 61%, one of the highest ratio in the sector % Loans Loans / T. Assets 13

14 Balance Sheet Composition Assets Liabilities and Equity 8% 10% 6% 2% 3% 2% 17% 17% 15% 61% 53% 61% 81% 80% 84% 31% 37% 33% Liquid Assets Loans Others Borrowings Equity Others 14

15 Loan Book NPL Ratio vs. Coverage Ratio Well Diversified Loan Portfolio 6% 5% 4% 3% 2% 4.0% 2.4% 100% 1.3% 120% 100% 80% 60% 40% NPL s are low and fully provisioned 31% 15% 8% 8% FINANCE ENERGY TOURISM TEXTILE AUTOMOTIVE & LOGISTICS OTHER MINING OTHER OTHER PRODUCTION 1% -1% NPLs Coverage Ratio 20% 0% 0% 3% 3% 4% 4% 5% 6% 7% 6% METALS FOOD CHEMISTRY PLASTICS AGRICULTURE NPLs (USD mn) FX Composition of the Loan Book 44 (USD mn) NPL amount declined by 28% yoy USD EUR JPY 15

16 Securities Portfolio Securities Portfolio (USD mn) Average Maturity (Years) TRY FC % % % TL Securities FX Securities Breakdown of Securities Portfolio FX Floating 16% Zero TL Coupon Floating Bonds 35% 34% FX Fixed 15% TL Floating 24% FX Fixed 14% FX Floating 15% Zero Coupon Bonds 47% Total Securities Portfolio is classified as Available for Sale

17 Sufficient Capitalisation Capital Base (USD mn) Capital Adequacy Ratio!!! Tier I Capital Tier II Capital Deductions % 37% 33% Free Capital Risk Weighted Assets 11.02% 10.44% 9.80% Market Risk Credit Risk 87% 80% 97% 13% 20% 3% 17

18 Income Statement Net Profit (USD mn) Income Composition 8% 10% 9% 18% 82% 72% Interest Income (USD mn) Adj. NII Other Income Net Commissions Breakdown of Interest Income Share of IEA in TA is 90% 36% 52% Loans 64% 48% Liquid Assets

19 Financial Summary Income Statement Loan Spread (000 USD) Change Adj. Net Interest Income 99,397 92,909-7% Net Commissions 8,762 12,686 45% Released Provisions 14,133 12,409-12% Other Operating Income 2,787 10, % Net Banking Income 125, ,334 3% Personnel Expenses 16,391 16,979 4% Adm. Expenses 4,375 4,498 3% Other Op. Expenses 5,773 9,560 66% Operating Profit 98,539 97,298-1% Provision Charges - 6,715-5,136-24% Tax Provision - 19,153-16,699-13% Net Profit 72,671 75,462 4% Net Interest Margin

20 Financial Highlights Ratios Financials (USD mn) CAR 42.8 % 36.8 % 32.9 % Assets 1,707 2,466 2,881 Free Capital 11.0 % 10.4 % 9.8 % Liquid Assets Cost to income 28.0 % 27.6 % 25.7 % Loans 1,038 1,329 1,757 NIM 5.7 % 5.3 % 4.1% Partic ROAE 13.3 % 21.4 % 18.7 % Funds borrowed 1,386 2,010 2,423 ROAA 2.2 % 3.5 % 2.9 % Equity

22 Banking Sector vs TSKB as of 3Q06 LOANS / ASSETS NPL IEA / T.ASSETS 44% 58% 3.8% 1.7% 92% 90% Sector TSKB Sector TSKB Sector TSKB TOTAL EXPENSES / AVG. ASSETS ROAA ROAE 3.9% 2.6% 2.7% 20.5% 18.1% 1.1% Sector TSKB Sector TSKB Sector TSKB 22

24 Ratings TSKB s Fitch Ratings (November 2006) TSKB s Moody s Ratings (December 2005) Foreign and Local Currency Long Term Foreign Currency BB- Long Term Local Currency BB Short Term B Outlook Positive National A+ Outlook Stable Individual C/D Support 3 Financial Strenght Rating D+ Outlook (FSR) Stable Long Term Foreign Currency B1 Foreign Currency Outlook Positive Turkey: Sovereign Rates S&P Jan 23, 2006 BB- Positive TSKB s Main Shareholders Fitch Ratings Moody s Dec 14, 2005 Ba3 Stable LTFC Outlook Support Individual Fitch Dec 6, 2005 BB- Positive İş Bank BB Positive 4 C Vakõfbank BB- Positive 4 C/D 24

25 Participations as of 2006 Entity Sector Ownership Capital (TRY) Yatõrõm Finansman Menkul Değerler A.Ş. (Yatõrõm Finansman Securities) Financial 88.78% 11,675,000 TSKB Gayrimenkul Yatõrõm Ortaklõğõ A.Ş. (TSKB Real Estate Investment Trust) Financial 96.00% 10,000,000 Entity Sector Ownership Capital (TRY) İş Finansal Kiralama A.Ş. (İş Leasing) Financial 28.56% 100,000,000 TSKB Yatõrõm Ortaklõğõ A.Ş. (TSKB Investment Company) Financial 29.75% 18,000,000 Yatõrõm Finansman Yatõrõm Ortaklõğõ (Yatõrõm Finansman Investment Company Trus Financial 10.78% 10,000,000 Entity Sector Ownership Capital (TRY) İş Girişim Sermayesi Yatõrõm Ortaklõğõ (İş Venture Capital Investment Trust) Financial 16.67% 22,500,000 IMKB Takas Saklama A.Ş. (ISE Clearing House) Financial 5.00% 60,000,000 Vadeli İşlem ve Opsiyon Borsasõ A.Ş. (Derivatives Clearing House) Financial 1.00% 9,000,000 Gelişen İşletmeler Piyasalarõ A.Ş. (Emerging Enterprises Market) 1.00% 10,000,000 İş Factoring Finansman Hizmetleri A.Ş. (İş Factoring) Financial 14.75% 16,000,000 Cam Elyaf Sanayi A.Ş. Glass 1.18% 36,121,000 Terme Metal Sanayi ve Tic. A.Ş. Metal 17.83% 1,757,500 TSKB Gayrimenkul Değerleme A.Ş. (TSKB Real Estate Appraisal) Real Estate 80.00% 300,000 İş Portföy Yönetimi A.Ş. (İş Asset Management) Financial 5.00% 10,000,000 Gözlük Sanayi A.Ş. Glass 21.71% 531,196 Servus Bilgisayar A.Ş.* 7.14% 10,450,000 Ünsa Ambalaj San. Ve Tic. Ltd. Şti.* 12.00% 21,927,400 Senapa-Stampa Plastik Ambalaj San. A.Ş.* 10.41% 7,250,000 *These subsidiaries are TSKB's participations via the EIB Venture Capital Fund Scheme 25

26 Awards # Best Real Estate Advisor in Turkey 2005 # Best M&A House in Turkey by Euromoney 2005 # Best Local Partner by Euromoney Awards for Excellence 2004 # Best Securities Firm by Euromoney 1997, 1998 and 1999 # Best Credit Rating among Banks in Emerging Markets 1998 and 1999 by Thomson Bankwatch # Best Equity Research 1997 by the Emerging Markets Investor Magazine 26

27 Organization Chart 2006 INFORMATION TECHNOLOGY & HUMAN RESOURCES EXECUTIVE VICE PRESIDENT ŞEMSEDDİN ARAT APPLICATION DEVELOPMENT GÖKHAN ÇANAKPINAR Department Head SYSTEM DEVELOPMENT YETKİN KESLER Department Head HUMAN RESOURCES OLCAY TATLIOĞLU Department Head SYSTEM & NETWORK SUPPORT ERKAN MİSKET Manager TECHNICAL SERVICES EXECUTIVE VICE PRESIDENT ORHAN BEŞKÖK FINANCIAL ANALYSIS ELİF AYDOĞ AN Senior Manager TECHNICAL ANALYSIS REFİK AKINCI Department Head ECONOMIC ANALYSIS REFİK AKINCI Department Head TREASURY & CAPITAL MARKETS EXECUTIVE VICE PRESIDENT ŞENİZ YARCAN TREASURY OKAN BÖKE Department Head FINANCIAL INSTITUTIONS ESTEL GÜRDOĞAN Department Head RESEARCH GÜNDÜZ FINDIKÇIOĞ LU Department Head CAPITAL MARKETS HAYRETTİN ERYILMAZ Department Head BOARD OF DIRECTORS CAHİT KOCAÖMER CHAIRMAN PRESIDENT HALİL EROĞ LU (CEO, MEMBER of THE BOARD) CORPORATE BANKING EXECUTIVE VICE PRESIDENT BURAK AKGÜÇ CORPORATE BANKING I FUNDA GÜREL Department Head BAHRAIN BRANCH ARDA AÇIKSÖZ Branch Manager ANKARA BRANCH İZMİR BRANCH ASSET MANAGEMENT ÖMÜR FİLİZ Manager CORPORATE BANKING II Department Head CORPORATE FINANCE HAKAN AYGEN Department Head AUDIT COMMITTEE ADNAN BALİ MURAT BİLGİÇ (Members of the Board) FINANCIAL CONTROL EXECUTIVE VICE PRESIDENT ÖMER ERYILMAZ FINANCIAL CONTROL MUSTAFA GÖKTAŞ Senior Manager INVESTOR RELATIONS UNIT AYŞE NAZLICA Senior Manager BOARD OF INTERNAL AUDITORS ECE BÖRÜ Head of Board of Internal Auditors OPERATIONS EXECUTIVE VICE PRESIDENT ÇİĞDEM İÇEL TREASURY OPERATIONS NEŞE DUYGULU Department Head HEAD OFFICE OPERATIONS ÖZNUR GÖKHAN Department Head INTERNAL CONTROL UNIT MELTEM AYHAN Senior Manager RISK MANAGEMENT UNIT MEHMET SUINGUN Senior Manager LEGAL ADVISER Prof. Dr. SAFA REİSOĞLU GENERAL SECRETARIAT AKIN SÜEL Secretary General LOANS UFUK BALA YÜCEL Director LEGAL AFFAIRS AKIN SÜEL Acting Department Head LOAN ALLOCATION & MONITORING FERHUNDE AYGEN Senior Manager PENSION & ASSISTANCE FUNDS ESER ÇELİK ÜN Senior Manager 27

28 Contacts Meclisi Mebusan Caddesi No 161, Fõndõklõ Istanbul/TURKEY INVESTOR RELATIONS Tel: Fax:

29 Disclaimer The information in this document has been obtained by Türkiye Sõnai Kalkõnma Bankasõ A.S. ( TSKB ) from sources believed to be reliable, however, TSKB cannot guarantee the accuracy, completeness, or correctness of such information. This document has been issued for information purposes only. The financial reports and statements announced by TSKB to the public and the relevant corporations are accepted to be the sole material. TSKB does not accept any liability whatsoever for any direct or consequential loss arising from any use of this document or its contents due to the misleading information in this document. All estimations contained in this document are the opinions of TSKB and can be subject to change without notice. This document can not be interpreted as an advice, offer to sell, or an invitation to subscribe for or purchase, any of the shares in any jurisdiction to any person or to the investors and TSKB can not be held responsible for the results of investment decisions made on account of this document. This document has been issued specially to the person, whom the document is concerned and may not be reproduced, distributed or shared with third parties for any purpose. The distribution of this document in certain jurisdictions may be restricted by law. Persons into whose possession this document comes are required by TSKB and the managers to inform themselves about and to observe any such restrictions. No persons has been authorized to give any information or to make any representation. In making an investment decision, investors must rely on their own examination of TSKB, including the merits and risks involved. This document is personal to whom it is delivered by the managers. 29