odeabank overvie · - in august 2016, pursuant to regulatory and corporate approvals odeabank...
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Odeabank Overview
YE 2016 BRSA FinancialsCorporate Presentation
• As of December 2016, 52 banks operate in Turkey; 47 conventional and 5 participation banks.
• A brief outlook of the Turkish banking sector as of YE 2016;
• Total Assets : TRY 2,73 trillion• Total Loans : TRY 1,73 trillion• Total Deposits : TRY 1,45 trillion• Shareholders Equity : TRY 300 billion• Securities Portfolio : TRY 352 billion
• Loans/Deposits : 119%• NPL : 3,24%• CAR : 15,57%• ROA : 1,89%• ROE : 14,28%
2
Turkish Banking Sector
8%
7%
63%
13%
9%
Breakdown of Total Assets (YE 2016)
Cash & Equivalents
Reserve Requirements
Loans
Securities
Others
53%
5%
16%
4%
11%
11%
Breakdown of Total Liabilities (YE 2016)
Deposits
REPOs
Borrowed Funds
Securities Issued
Others
SHE
Asset size is USD 44,4 billion as of YE 2016
Deposits reached USD 35,9 billion, Loans reached USD 17,3 billion
Shareholders Equity is USD 3,78 billion
186 years of banking tradition and experience
Rated by Moody’s, S&P and Fitch
First GDR issue in the broad MENA region in 1995
Accessed 17 times international markets through debt and equity issues
Abiding by the Beirut and London Stock exchanges’ regulations
Applying high corporate governance, compliance and AML standards
Implementing since 2013 a formalized ESMS management system
Bank Audi in a nutshell…
Operating Environment
GDP Growth* Asset Growth** Loan Growth** Deposit Growth**
Lebanon 2,0% 8,0% 5,1% 5,0%
Turkey 2,9% 14,6% 14,8% 14,9%
Egypt 3,8% 23,4% 22,6% 15,0%
MENA 3,2% 4,1% 5,0% 2,8%
*2016 estimates** YTD growth domestic currency for Turkey and Egypt and in USD terms for MENA
Bank Audi
4
Turkey ranks 1st in loans as of YE 2016
Turkey is the 2nd largest hub after Lebanon
Bank Audi in a nutshell…
Bank Audi
26,05
10,80
2,944,60
0,00
5,00
10,00
15,00
20,00
25,00
30,00
Lebanon Turkey Europe MENA
Geographic Breakdown of Assets (in USD bn)
YE 2010
YE 2014
YE 2015
YE 2016
6,20
7,40
1,49
2,22
-
1,00
2,00
3,00
4,00
5,00
6,00
7,00
8,00
Lebanon Turkey Europe MENA
Geographic Breakdown of Loans (in USD bn)
YE 2010
YE 2014
YE 2015
YE 2016
104,0
69,0
116,0
181,0
-
50,0
100,0
150,0
200,0
250,0
300,0
Lebanon Turkey Europe MENA
Net Profits (in USD mn)
YE 2010
YE 2014
YE 2015
YE 2016
2016
Total Assets 44,396
Customer Deposits 35,955
Loan to Customers 17,344
Shareholders’ Equity 3,789
Net Profits 470
Branches* 201
Staff* 7.017
*Figures are in USD mn except
Group Overview - Financial Highlights
TRY mn YE 2016 YE 2015
Assets 38,278 32,082
Loans 26,447 21,806
Deposits 29,254 25,333
Sub Loans 528 1,310
Equity 3,443 1,347
# of branches 50 55
Headcount 1,681 1,538
Story of Odeabank
Odeabank is currently the 9th largest privately ownedbank in Turkey by total assets.
Incorporation • March 2012
BRSA License
Application •June 2012
License •October 2012
New Shareholders: IFC and EBRD
•August 2016
74%
8%
6%
3%4%
3%
2% 0% 0% 0%
Shareholder Structure
Bank Audi sal - Audi Group
European Bank for Reconstruction and Development (EBRD)
International Finance Corporatation (IFC)
IFC Financial Institutions Growth Fund L.P
H.H Sheikh Dheyab Binzayed Binsultan Al-Nahyan
Audi Private Bank sal
Mohammad Hassan Zeidan
Raymond Audi
Samir Hanna
Freddie Baz
• IFC and EBRD become shareholders at Odeabank
6
Current network;• 50 branches in 16 cities
• 1681 staff
Direct Banking Channels
There are 5 types of branches under branchnetwork model;
• Corporate and Commercial Centers; 7• Commercial Centers; 1• SME/Retail; 25 • Retail only;17
Internet Banking
MobileBanking
SMS Banking
ATM
SelfService
ContactCenter
SocialMedia
Applications
Our Presence in Turkey
7
48
1113
1619 20 22
26 2629
33 3229 31
33
38
0
5
10
15
20
25
30
35
40
45
Dec 2012 March2013
June2013
Sept2013
Dec 2013 March2014
June2014
Sept2014
Dec 2014 March2015
June2015
Sept2015
Dec 2015 March2016
June2016
Sept2016
Dec 2016
Evolution of Total Assets (in TRY bn)
Total Assets TRY Denominated FX Denominated
13% 0%
12%
4%
70%
0% 1%
Composition of Assets (YE 2016)
Cash and Balances with Central Bank
Banks
Reverse REPOs
Securities
Loans
Tangible Assets
Other
9%
79%
1%
1%
9%
1%
Composition of Liabilities (YE 2016)
Funds Borrowed
Customer Deposits
Money Market Balances
Subordinated Loans
Shareholders Equity
Other
8
Loan/staff: TRY 8,22 mn
Loan/branch: TRY 147 mnNPL: 3,24%
Loan/staff: TRY 15,7 mn
Loan/branch: TRY 528 mnNPL: 2,60%
Sector
Odeabank
Healthy and diversified loan growth
24
69
1113
1415
18 1920
22 22 21 2224
26
0
5
10
15
20
25
30
4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16
Evolution of Loan Portfolio (in TRY bn)
43%
25%
20%
12%
Loan Breakdown by Segment (YE 2016)
Corporate
Commercial
SME
Retail
50%
50%
Loan Portfolio by Currency (YE 2016)
TRY FX
9
Loans/Deposits is 90%Sector
119%
Deposit/staff: TRY 6,8 mn
Deposit/branch: TRY 123 mn
Deposit/staff: TRY 17,4mn
Deposit/branch: TRY 585 mn
Sector
Odeabank
Prudent asset-liability management…
2,5
6,6 8,3
10,1 12,4
15,0 16,8 17,8
21,0 21,1 23,4
26,1 25,0 22,5
24,2 25,5
29,2
-
5,0
10,0
15,0
20,0
25,0
30,0
35,0
4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16
Evolution of Customer Deposits (in TRY bn)
24%
4%
11%61%
Customer Deposits by Segment (YE 2016)
Corporate
Commercial
SME
Retail
37%
63%
Customer Deposits by Currency (YE 2016)
TRY
FX
10
Market Share
0,20%
0,50%
0,70%
0,90%
1,10%1,20%
1,30% 1,30%
1,50%1,40% 1,40%
1,48% 1,46% 1,42% 1,38%1,45%
1,53%
0,00%
0,20%
0,40%
0,60%
0,80%
1,00%
1,20%
1,40%
1,60%
1,80%
Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16
Market Share in Total Loans
Market Share in Total Loans
0,30%
0,80%1,00%
1,10%1,30%
1,60%1,70% 1,70%
2,00%1,90%
2,00% 2,06% 2,01%1,81% 1,81%
1,90%2,01%
0,00%
0,50%
1,00%
1,50%
2,00%
2,50%
Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16
Market Share in Total Deposits
Market Share in Total Deposits
11
- In August 2016, pursuant to regulatory and corporate approvals Odeabank successfully completed a TRY 1 billion capital increase. While Bank Audi Group remains a majority shareholder with a stake of more than 75%, IFC and EBRD acquired 9,788% and 8,009% of the Bank.
Strong capitalization
• Tier I Capital : TRY 3.29bn• Tier II Capital: TRY 781mn• Total Capital : TRY 4.07bn
• Core Capital Adequacy Ratio : 12,22%• Tier I Ratio : 12,09%• CAR : 14,96%
12,22% 12,09%
14,96%
0,00%
2,00%
4,00%
6,00%
8,00%
10,00%
12,00%
14,00%
16,00%
Core Capital AdequacyRatio
Tier I Ratio CAR
Strong Capitalization
3.291
782
0
500
1.000
1.500
2.000
2.500
3.000
3.500
4.000
4.500
Capitalization (in TRY mn)
Tier I Capital Tier II Capital
12
Profitability
• Healthy interest income generation;
• Increasing interest income from loan book
• 84.2% of interest income is generated from lending activities
• Fees & commissions income generation is improving
BRSA Income Statement (in TRY mn) YE 2016 YE 2015 ∆%
I. Net Interest Income 1.151 976 18%
II. Net Fees & Commissions Income 105 99 7%
III. Net Trading Income 182 -216 NA
VI. Other Operating Income 14 6 120%
V. Total Income (I+II+III+IV) 1.452 865 68%
VI. Other Operating Expenses -657 -533 23%
VII. Provisions for Loan Losses ad Other Receivables -530 -259 105%
VIII. Net Operating Profit (V-VI-VII) 265 74 258%
IX. Tax Provision -64 -24 172%
X. NET PROFIT / LOSS (VIII-IX) 200 50 298%
2015 2016
Spread 2,34% 2,84%
Non Interest Income / Average Assets 0,66% 1,61%
Asset Utilization 2,99% 4,45%
Net Operating Margin 7,26% 14,32%
o.w. cost to income 61,39% 45,13%
o.w. credit cost 29,53% 36,97%
o.w. tax cost 1,82% 3,58%
ROAA 0,22% 0,64%
Leverage 12,60 11,35
ROACE 2,74% 7,23%
Key Ratios*
*IFRS figures
13
Funds Borrowed
• IFI Loans
• USD 50mn ‘’SME Loan’’ from IFC in 2013• EUR 20mn ‘’Renewable Energy and Energy Efficiency Loan’’ from Proparco in 2014• USD 81mn ‘’Green Mortgages Loan’’ from IFC in 2015• EUR 30mn ‘’MSME Loan’’ from EBRD in 2015• EUR 20mn ‘’Micro Loan‘’ from EFSE in 2015• USD 11mn ‘’Renewable Energy and Energy Efficiency Loan‘’ from GGF in 2015• USD 25mn ‘’Trade Finance Loan‘’ from OFID in 2016• EUR 20mn ‘’Renewable Energy and Energy Efficiency Loan‘’ from Proparco in 2016• EUR 100mn ‘’Loan for SMEs and MidCaps’’ from EIB in 2016• USD 35mn ‘’Renewable Energy and Energy Efficiency Loan’’ from FMO in 2016
Disclaimer
This presentation and document are for information purposes only and are intended only for the initial direct recipient hereof. They may not be reproduced or redistributed to any other
person. They shall not and do not constitute either an offer to purchase or buy or a solicitation to purchase or buy or an offer to sell or exchange or a solicitation to sell or exchange any
securities of Bank Audi and neither this document nor anything contained herein shall form the basis of any contract or commitment whatsoever.
Certain statements in this Investor Presentation may constitute “forward-looking statements”. These statements appear in a number of places in this Investor Presentation and include
statements regarding Bank Audi’s intent, belief or current expectations.
These forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “is expected to”, “will”, “will continue”, “should”,
“approximately”, “would be”, “seeks”, or “anticipates” or similar expressions or comparable terminology, or the negatives thereof. Such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties and that actual results, performance or achievements of Bank Audi may differ materially from those expressed or implied in the
forward-looking statements as a result of various factors. There are many factors which could affect Bank Audi’s actual financial results or results of operations and could cause actual
results to differ materially from those in the forward-looking statements. In addition, even if Bank Audi’s results of operations, financial condition and the development of the industry in
which it operates are consistent with forward-looking statements contained herein, those results or developments may not be indicative of results or developments in subsequent periods.
Bank Audi does not undertake to update any forward-looking statements made herein. Past results are not indicative of future performance.
While the information contained in this presentation and document has been prepared in good faith, no representation or warranty, express or implied, is or will be made and no
responsibility or liability is or will be accepted by Bank Audi sal or any of its subsidiaries or affiliates or by any of their respective directors, officers, employees or agents as to or in relation
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any manner as legal, tax or investment advice and shall not be used in substitution for the exercise of independent judgment and each recipient hereof shall be responsible for conducting
its own investigation and analysis of the information contained herein. Except where otherwise indicated, the information provided in this document is based on matters as they exist as of
the date stated or, if no date is stated, as of the date of preparation and not as of any future date, and the information and opinions contained herein are subject to change without notice.
None of Bank Audi sal or any of its subsidiaries or affiliates accepts any obligation to update or otherwise revise any such information to reflect information that subsequently becomes
available or circumstances existing or changes occurring after the date hereof.
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(Financial Promotion) Order 2005, or (iii) to persons whom this presentation may otherwise be communicated (all such persons, together with Qualified Investors, being referred to as
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The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format without the express written approval of Bank Audi sal
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