Quarterly Financial Report March 31, 2014
Table of Contents I. Financial Statements 1 Balance Sheet Income Statements II. Main Financial Ratios 2 III. Details of Loan Portfolio 3 IV. Details of Paid-in Capital 5 For further information, please visit our web site at: www.caf.com Contacts : Gabriel Felpeto Ph (58-212)209.2303 e-mail: gfelpeto@caf.com Antonio Recine Ph (58-212)209.2076 e-mail: arecine@caf.com Manuel Valdez Ph (58-212)209.2387 e-mail: mvaldez@caf.com Janet Rea Ph (58-212) 209.2171 email: jrea@caf.com DISCLAIMER THE FOLLOWING FINANCIAL STATEMENTS FOR THE PERIOD STATED THEREIN ARE FOR GENERAL INFORMATION PURPOSES ONLY. THE AFOREMENTIONED STATEMENTS HAVE NOT BEEN INDEPENDENTLY AUDITED NOR APPROVED BY CORPORACIÓN ANDINA DE FOMENTO S BOARD OF DIRECTORS. AS SUCH, SAID FINANCIAL STATEMENTS MAY MATERIALLY CHANGE. CORPORACIÓN ANDINA DE FOMENTO ( CAF ) DOES NOT EXPRESS ANY OPINION AS TO THE STATEMENTS THEMSELVES OR THE RESULTS THEREIN. ADDITIONALLY, CAF DOES NOT GUARANTE IN ANY MANNER THE ACCURACY OF THE CONTENTS THEREIN AND DOES NOT TAKE ANY RESPONSIBILITY FOR THEIR USE. NOTHING IN THIS DOCUMENT SHALL BE INTERPRETED AS A WAIVER OF THE IMMUNITIES AND PRIVILEGES GRANTED TO CAF BY ANY OF ITS SHAREHOLDER COUNTRIES.
I. Financial Statements (unaudited) Balance Sheet (In thousands of US$) March 31, 2014 2013 Assets Liquidity 8.901.689 7.030.763 Loan portfolio 18.071.738 17.130.430 Allowance for losses -32.991-128.081 Equity investments 235.736 157.034 Other assets 1.110.094 976.922 Total Assets 28.286.266 25.167.068 Liabilities Deposits received 3.693.319 3.332.328 Commercial paper 2.160.943 3.151.745 Bonds 12.288.274 9.953.687 Borrowings and other obligations 1.640.175 1.367.517 Other liabilities 628.997 500.725 Total Liabilities 20.411.708 18.306.002 Stockholders' Equity Paid-in capital (authorized capital US$ 10,000 millions) 5.366.472 4.509.800 Reserves 2.463.583 2.325.826 Retained earnings and other 44.503 25.440 Total Stockholders' Equity 7.874.558 6.861.066 Total Liabilities and Stockholders' Equity 28.286.266 25.167.068 Income Statement (In thousands of US$) For the three months ended March 31, 2014 2013 Income Interest 136.627 123.908 Other 4.206 3.813 Total Income 140.833 127.721 Expenses Interest 76.255 74.741 Provisions -5.345 2.203 Administrative 29.060 24.655 Other 70 89 Total Expenses 100.040 101.688 Innefectiveness arising from fair value hedges and other changes in fair value 3.948-593 Net Income 44.741 25.440 CAF s Quarterly Financial Report 1
II. Main Financial Ratios (based on unaudited interim figures) As of March 31, 2014 2013 Profitability ROA 0,6% 0,4% ROE 2,3% 1,5% Net Interest Margin 0,9% 0,9% Asset Quality Overdue Loans (thousands of US$) 0 0 Non-accrual loans (thousands of US$) 0 8.250 Overdues /Loan portfolio 0,0% 0,0% Non-Accruals / Loan Portfolio 0,00% 0,05% Allowance/Loan portfolio 0,2% 0,8% Loans written-off in the year (thousands of US$) 0 0 Capitalization Gearing (times) 2,4 2,4 Leverage (times) 2,6 2,7 Liquidity Liquid Assets/ Financial Liabilities 44,2% 37,0% Liquid Assets / Total Assets 30,9% 26,1% CAF s Quarterly Financial Report 2
III. Details of Loan Portfolio Loan portfolio distribution by country (in US$ thousands): As of March 31, As of December 31, 2014 2013 2013 2012 2011 Argentina 2.518.810 2.155.929 2.457.474 2.114.725 1.913.325 Bolivia 1.766.483 1.580.138 1.752.611 1.598.808 1.417.564 Brazil 1.382.290 1.630.532 1.654.751 1.252.829 989.489 Colombia 1.876.311 1.753.677 1.806.317 1.832.312 1.816.515 Costa Rica 120.009 126.698 124.928 126.698 149.346 Dominican Republic 173.869 175.673 177.576 176.047 158.276 Ecuador 2.698.114 2.630.897 2.735.716 2.648.222 2.508.673 Jamaica 6.008 6.479 6.129 6.590 5.607 Mexico 169.023 18.026 194.475 18.026 18.776 Panama 1.101.377 623.774 882.651 586.944 321.489 Paraguay 199.031 136.983 189.731 134.501 100.448 Peru 2.543.212 2.973.516 2.478.138 2.660.320 2.573.155 Spain 200.000 50.000 200.000 50.000 - Uruguay 380.389 333.699 378.510 331.820 351.725 Venezuela 2.934.510 2.929.652 2.961.658 2.816.083 2.652.070 Total 18.069.436 17.125.673 18.000.665 16.353.925 14.976.458 Adjustment* 2.302 4.757 2.606 1.485 4.286 Total 18.071.738 17.130.430 18.003.271 16.355.410 14.980.744 * Fair value adjustment on hedging activities Loan portfolio by country as of March 31, 2014 Peru 14,1% Paraguay 1,1% Panama 6,1% Mexico 0,9% Jamaica 0,03% Uruguay Spain 2,1% 1,1% Ecuador 14,9% Dominican Republic 1,0% Venezuela 16,2% Costa Rica 0,7% Colombia 10,4% Argentina 13,9% Brazil 7,6% Bolivia 9,8% CAF s Quarterly Financial Report 3
Loan portfolio distribution by institutional sector (in US$ thousands): As of March 31, As of December 31, 2014 2013 2013 2012 2011 Public Sector 14.669.104 14.080.880 14.974.563 13.823.556 12.613.728 Private Sector 3.400.331 3.044.794 3.026.102 2.530.369 2.362.730 Total 18.069.435 17.125.673 18.000.665 16.353.925 14.976.458 Adjustment* 2.302 4.757 2.606 1.485 4.286 Total 18.071.737 17.130.430 18.003.271 16.355.410 14.980.744 * Fair value adjustment on hedging activities Loan portfolio by institutional sector as of March 31, 2014 Private Sector 19% Public Sector 81% CAF s Quarterly Financial Report 4
IV. Details of Paid-in Capital Paid-in Capital as of March 31, 2014 (in US$ thousands): ORDINARY CAPITAL Stockholders Series "A" Series "B" Series "C" Total Ordinary % Argentina 1.200 346.540 347.740 8,8% Bolivia 1.200 208.265 209.465 5,3% Brazil 1.200 329.635 330.835 8,3% Colombia 1.200 728.665 729.865 18,4% Ecuador 1.200 209.785 210.985 5,3% Panama 1.200 89.080 90.280 2,3% Paraguay 1.200 68.230 69.430 1,7% Peru 1.200 745.800 747.000 18,8% Uruguay 1.200 102.160 103.360 2,6% Venezuela 1.200 730.830 732.030 18,4% Chile 27.705 27.705 0,7% Costa Rica 16.455 16.455 0,4% Dominican Republic 30.985 30.985 0,8% Jamaica 910 910 0,0% Mexico 58.785 58.785 1,5% Portugal 7.350 7.350 0,2% Spain 175.675 175.675 4,4% Trinidad & Tobago 79.335 79.335 2,0% Commercial Banks 2.130 2.130 0,1% Total 12.000 3.561.120 397.200 3.970.320 100% Paid-in capital as of March 31, 2014 Uruguay 2,6% Venezuela 18,4% Spain 4,4% Others 5,6% Argentina 8,8% Bolivia 5,3% Paraguay 1,7% Panama 2,3% Brazil 8,3% Peru 18,8% Ecuador 5,3% Colombia 18,4% CAF s Quarterly Financial Report 5