single line title€¦ · summary balance sheet 2 source: teb consolidated financials...

TEB

1H20

Summary Balance Sheet

2

Source: TEB Consolidated Financials

TÜRK EKONOMİ BANKASI A.Ş.

Consolidated (in Mn TL)

31.12.2019 30.06.2020 YtD Chg

Cash & Cash Equivalents 21,361 16,552 -23%

Marketable Securities 11,743 24,510 109%

Loans (net) (*) 67,467 77,412 15%

Other Assets 8,643 7,602 -12%

Total Assets 109,214 126,077 15%

Deposit 72,178 78,993 9%

Funds Borrowed 10,195 9,291 -9%

Securities Issued 2,334 7,600 226%

Repo 1,650 6,469 292%

Subordinated Debt 3,191 3,675 15%

Other Liabilities 9,757 8,924 -9%

Shareholders Equity 9,910 11,126 12%

Liab.&Shr.Equity 109,214 126,077 15%

(*) including Factoring Receviables

Summary Income Statement

3



Consolidated (in Mn TL, cumulative)

30.06.2019 30.06.2020

Net Interest Income 2,425 3,145

Gains/Losses From Derivatives and FX position -206 -603

Securities Trading Gain/ Loss 33 -10

Net Fee&Commissions 764 650

Other Income 56 56

Net Banking Income 3,073 3,239

Cost of Risk -708 -494

Net Operating Income 2,365 2,745

Other Operating Expense -784 -893

Personnel Expenses -752 -832

Other Provisions 0 24

Dividend Income 1 3

Tax Provisions -185 -261

Net Profit 647 787

Asset and Liability Composition

4


103,244 103,990109,214

126,190 126,077

0%

1%5%

16%

0%

30.06.19 30.09.19 31.12.19 31.03.20 30.06.20

Balance Sheet Growth

Total Assets Variance

20.0% 18.0% 19.6% 18.0%13.1%

8.3%8.4%

10.8% 11.7% 19.4%

65.0% 65.5%61.8% 62.5%

61.4%

6.6% 8.1% 7.9% 7.8% 6.0%

30.06.19 30.09.19 31.12.19 31.03.20 30.06.20

Asset Compositions

Liquid Assets Debt Securities Loans Other Assets

63.7% 63.5% 66.1% 65.9% 62.7%

19.0% 17.6% 15.9%17.7% 21.4%

7.6% 9.6% 8.9% 8.3% 7.1%

9.6% 9.3% 9.1% 8.2% 8.8%

30.06.19 30.09.19 31.12.19 31.03.20 30.06.20

Liability Compositions

Deposit Funds Borrowed Other Liabilities Shareholders Equity

A Closer Look into Loans

5

Source: TEB Bank only Financials

79% 80%82%

84% 84%

21% 20% 18% 16% 16%

65,418 66,600 65,577

76,877 75,703

30.06.19 30.09.19 31.12.19 31.03.20 30.06.20

Loan Compositions

TL Loans FX Loans Total Loans

32.6% 28.7% 26.2% 23.5% 23.4%

46.5% 51.1% 55.8% 60.8% 60.9%

18.5% 17.9% 15.8%13.8% 13.9%

2.4% 2.3% 2.2% 1.9% 1.8%

30.06.19 30.09.19 31.12.19 31.03.20 30.06.20

Breakdown of Retail Loans

Housing Consumer Credit Cards Vehicle

Corporate; 31.2%

SME; 27.7%

Retail; 40.9%

Private; 0.3%

Performing Loans - Dec'19

Corporate; 38.8%

SME; 23.8%

Retail; 37.2%

Private; 0.2%

Performing Loans - Jun'20

NPL and Coverage Ratios

6


NPL Ratio

2.8%

2.1%2.2% 2.4% 2.3%

3.1%

3.0%

4.2%

6.0%5.1% 5.1%

2.7%

2.8% 2.7% 2.8%3.1% 3.2%

2.9%

3.8%

5.2% 4.8%4.3%

2011 2012 2013 2014 2015 2016 2017 2018 2019 Mar'20 Jun'20

TEB Sector

Coverage Ratio

71.3%

60.0% 60.8%64.2%

67.3% 68.5%63.8%

59.8%56.7%

58.8% 60.5%

79.4%75.2% 76.4% 73.8% 74.6%

77.4%79.4%

68.3%65.1%

68.6%71.3%

2011 2012 2013 2014 2015 2016 2017 2018 2019 Mar'20 Jun'20

TEB Sector

Construction; 9.91%

Textile and Leather Products ; 7.75% Food & Beverage; 9.43%

Other; 11.74%

Metal Products; 7.85%

Motor Vehicles; 6.55%

Finance and Insurance; 3.29%

Transportation and Storage; 3.05%

Agriculture, Forestry and Fishing; 2.84%

Chemical Products; 6.75%

Wholesale and Retail Trade; 3.94%

Machinery and Equipment; 3.51%

Electrical Apparatus; 3.63%

Precious Metal; 1.85%

Administrative and Technical Activities; 1.81%

Tourism; 2.82%

Wood Products; 1.70%

Potential Taxpayers; 0.00%

Fuel Products; 1.65%

Other Minerals and Mining; 2.20%

Computer, Electronic and Optical Products; 1.09%

Information and Communication; 3.99%

Rubber and Plastic; 1.58%

Food and Beverage Services (Restaurants); 1.08%

Sectoral Breakdown of Loan Portfolio(*)

7

(*) incl. non-cash loans, excl. retail loans

Composition of Debt Securities

8


Total Securities Compositions Interest Rate Compositions

63% 59%

37% 41%

2019 Q4 2020 Q2

Total Securities

Floating

Fixed

41% 47%

44%

13%

14%

40%

2019 Q4 2020 Q2

TL Portfolio

CPI Linkers

Floating

Fixed

62.5%

37.5%

2019 Q4

TL

FC77.4%

22.6%

2020 Q2

TL

FC

47.7%

10.1%

42.2%

2019 Q4

FVOCIFVPLAC

45.3%

6.6%

48.1%

2020 Q2

FVOCIFVPLAC

A Closer Look into Deposits

9


51% 50%48%

53%

55%

49% 50% 52% 47% 45%

65,859 66,030

72,194

83,28579,018

30.06.19 30.09.19 31.12.19 31.03.20 30.06.20

TL/FX Deposit Compositions

TL Deposits FX Deposits Total Deposits

79% 77% 77% 76%

64%

21% 23% 23% 24% 36%

14,12814,950

16,787

20,095

28,437

30.06.19 30.09.19 31.12.19 31.03.20 30.06.20

Time/Demand Deposit Compositions

Time Deposits Demand Deposits Demand Deposits

111%102%

110% 114%119%

112% 113%

100% 90% 92%96%

94% 99%106% 112%

114%

114% 119% 114%

102% 102% 105%

2011 2012 2013 2014 2015 2016 2017 2018 2019 Mar'20 Jun'20

Loan / Deposit Ratio

TEB Sector

Corporate; 19.0%

SME; 9.1%

Retail; 51.4%

Private; 20.6%

Total Deposits - Dec'19

Corporate; 19.7%

SME; 10.1%

Retail; 54.6%

Private; 15.7%

Total Deposits - Jun'20

Evolution of Cost of Risk

10


Cost of Risk

2.3%

1.9%

2.4%

1.5%

1.2%

2.2%

2.1%

2.2%

1.5%

1.4%

19-Q2 19-Q3 19-Q4 20-Q1 20-Q2

Quarterly Cumulative

Cost of Risk (Stage 3)

2.0% 1.7%

2.2%

1.0%

0.8%

2.0%

1.9%

2.0%

1.0% 0.9%

19-Q2 19-Q3 19-Q4 20-Q1 20-Q2


Cost of Risk (Stage 1 & 2)

0.31%

0.13%

0.23%

0.51%

0.43%

0.14% 0.14%

0.16%

0.51%

0.49%

19-Q2 19-Q3 19-Q4 20-Q1 20-Q2


Other Significant Ratios

11


Comfortable CAR supporting growth

16.4% 16.4%16.7%

15.3%

17.8%16.6% 16.5%16.9%

15.5%

17.9%

19-Q2 19-Q3 19-Q4 20-Q1 20-Q2

Consolidated Bank-Only

Net Interest Margin

4.2% 4.2%

5.0%

4.8%

4.2%

4.7% 4.6%

4.6%4.8%

4.6%

19-Q2 19-Q3 19-Q4 20-Q1 20-Q2


Cost / Income Ratio

51.4%

60.8%

49.8% 53.5%53.3%

49.8%53.3%

52.3% 53.5% 53.4%

19-Q2 19-Q3 19-Q4 20-Q1 20-Q2


TEB’s Network

121212

TEB is present in 71 cities

As of 30/06/2020

Number of Clients: 6.6 million

Number of Branches: 471

Total Staff: 8,889

ATM: 1,704

POS: 216,236

12

Van

Konya

Kırşehir

Sinop

Çankırı

BilecikTokat

Bitlis

HakkariŞırnak

Siirt

Karaman

Balıkesir

Afyon

Uşak

Aydın

İzmir

Edirne

Kırklareli

İstanbulTekirdağ

Çanakkale

Kocaeli

Yalova

Kastamonu

Samsun

Ankara

Kırıkkale

Aksaray

Isparta

Burdur

Antalya

Mersin

Niğde

Yozgat

AmasyaOrdu

Adana

Hatay

G.Antep

K.Maraş

Malatya

Adıyaman

G.Hane

Muğla

Düzce

Osmaniye

Kilis

DenizliAydın

Uşak

Manisa

BingölTunceli

Van

Muş

Ş.Urfa

Elazığ

Diyarbakır

Mardin

Batman

Erzincan

GiresunTrabzon

Rize

Eskişehir

Bursa

Kütahya

Bolu

Sivas

Çorum

Kayseri

KarabükArdahan

Ağrı

Iğdır

Artvin

Kars

Erzurum

144

13

1

3

1

2

32

1

7

1

1

2

1

7

4

14

2

1

15

1

1

39

3

11

1

1

2

13

3

112

1

31

7

2

5

2

2

2

4

1

1

1

1

Bartın

Sakarya

Zonguldak

Bayburt

Nevşehir

4

1

1

1

1

13

2

1

1

3

26

2

1

2

6

2

16

3

6

9

3 22

8

13

APPENDIX

14

Summary Balance Sheet



Bank only (in Mn TL)

31.12.2019 30.06.2020 YtD Chg

Cash & Cash Equivalents 21,337 16,498 -23%

Marketable Securities 11,608 24,353 110%

Loans (net) 65,577 75,703 15%

Other Assets 8,829 7,808 -12%

Total Assets 107,350 124,363 16%

Deposit 72,194 79,018 9%

Funds Borrowed 8,577 7,828 -9%

Securities Issued 2,334 7,600 226%

Repo 1,645 6,461 293%

Subordinated Debt 3,191 3,675 15%

Other Liabilities 9,689 8,867 -8%

Shareholders Equity 9,721 10,914 12%

Liab.&Shr.Equity 107,350 124,363 16%

15

Summary Income Statement



Bank only (in Mn TL, cumulative)

30.06.2019 30.06.2020

Net Interest Income 2,359 3,098

Gains/Losses From Derivatives and FX position -206 -604

Securities Trading Gain/ Loss 33 -10

Net Fee&Commissions 728 572

Other Income 56 57

Net Banking Income 2,971 3,113

Cost of Risk -706 -494

Net Operating Income 2,265 2,619

Other Operating Expense -765 -873

Personnel Expenses -716 -790

Other Provisions 0 24

Dividend Income 18 31

Tax Provisions -174 -246

Net Profit 630 765

Ratings of TEB

16

FITCH (May 20, 2020) Rating Outlook

Long-Term FC Issuer Default Rating B+ Negative

Short-Term FC Issuer Default Rating B -

Long-Term LC Issuer Default Rating BB- Stable

Short-Term LC Issuer Default Rating B -

Viability Rating b+ -

National Long-Term Rating AA (tur) Stable

Bank Support Rating 4 -

MOODY'S (June 19, 2019) Rating Outlook

Long Term FC Bank Deposits B3 Negative

Short Term FC Bank Deposits NP -

Long Term LC Bank Deposits B1 Negative

Short Term LC Bank Deposits NP -

Baseline Credit Assessment b3 -

Adjusted Baseline Credit Assesment b1 -

17

A Major Player of the Turkish Financial Services Market

17

TEB

Full range of banking services

TEB Factoring

Established in 1997, is one of the pioneers of factoring sector

in Turkey. 6.9% market share

as of 1Q 2020

TEB Investment

16th largest brokerage &

investment house of Turkey with

2.2% market share at Borsa

İstanbul Equity Market as of 2Q

2020 and 9th largest brokerage &

investment house of Turkey with

3.9% market share at Borsa

İstanbul Derivatives Market as of

as of 2Q 2020

TEB Asset

Management

7th largest asset management company with 3.4% market

share as of 2Q 2020

TEB Arval

Operative since October 2007, 8.7% market share as of 1Q

2020

BNPP Leasing

8.6% market share as of 1Q 2020

TEB Cetelem

Consumer finance company in Turkey with 1.6% market share

as of 2Q 2020

BNPP Cardif

Insurance A major global player for

personal insurance

Turkish operations fully owned by BNP ParibasCardif (S&P A-

rated),100% subsidiary of BNP

Paribas

%3.0 market share in Turkey in protection insurance & pension

as of 2Q 2020

TEB Kosovo Operative since January 2008,

with 29 branches, as of 2Q

2020

Disclaimer

18

The information and opinions obtained in this document have been compiled or

arrived at by TEB from sources believed to be reliable, but no representation or

warranty is made as to their accuracy, completeness or correctness. All opinions

and estimates contained in this document constitute TEB’s judgement as of the

date of this document and are subject to change without notice. This document is

published for the assistance of the recipients, but is not to be relied upon as

authoritative or taken in subtitution for the exercise of judgement by any recipient.

TEB does not accept any liability for any direct or consequential loss arising from

any use of this document or its contents. This document is strictly confidential and

may not be reproduced, distributed or published for any purpose.

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