slide library - updated for fy14 results€¦ · debt investor presentation . 2 suncorp group...

Suncorp Group Limited Suncorp Group Limited

1

November 2015 Suncorp Group Limited

Suncorp Bank Debt Investor Presentation

2

Suncorp Group Limited

Suncorp Investor Update

3 Suncorp Group

5 Group Financial Results & Capital

19 Suncorp Bank – APS330

Agenda

34 Australian Mortgages

November 2015

29 Funding & Liquidity

Suncorp Group

3


Leading financial services brands in Australia and New Zealand

Top 15 ASX listed company

$16.8 billion market capitalisation* as at 18 November, 2015

$94 billion in group assets

14,500 employees in Australia and New Zealand

9 million customers

Issuer Credit Ratings of A+ / A1 / A+ with S&P / Moody’s / Fitch respectively

*Source: Bloomberg

Group Capital Structure

4


Surplus assets

Suncorp Group

GI Life Bank

General Insurance

Bank (Suncorp Metway Ltd)

Life

Shareholders Surplus returned to shareholders

Ordinary dividend – 60-80% of cash earnings

Distributable earnings

Maintain capital targets

• Suncorp Metway Ltd is the entity that issues senior debt instruments on behalf of the Bank

• General Insurance is the entity that issues sub-debt instruments on behalf of AAI Limited and SIF Limited

• Suncorp Group Limited is typically the entity that issues Basel III compliant CPS

Group Financial Results and Capital

5


Result overview ($m) (June 2015)

6


FY15 FY14 %∆

General Insurance NPAT 756 1,010 (25.1)

Bank NPAT 354 228 55.3

Suncorp Life NPAT 125 92 35.9

Business lines NPAT 1,235 1,330 (7.1)

Other (44) (26) 69.2

Cash earnings 1,191 1,304 (8.7)

Life Insurance write-down - (496) n/a

Other profit and acquisition amortisation (58) (78) (25.6)

NPAT 1,133 730 55.2

289 289 228 354 146 120 84

113

(263) (632)

493 883 1010 756

105

(60)

8 12

Suncorp Group business line NPAT ($m) (June 2015)

7


Profit diversification

FY12 FY13 FY14 770 600 1,330 1,235

FY15

Life market adjustments

Life underlying NPAT

General Insurance

Non-core Bank

Bank

General Insurance (June 2015)

8


$m FY15 %Δ General Insurance profit after tax 756 (25.1)

Reserve releases of $427 million

Natural hazards $473 million above allowance

GI CET1 1.40x PCA GWP up 0.1% with positive unit growth in Personal lines

Underlying ITR of 14.7% exceeding commitment to ‘meet or beat’ 12%

Reported ITR of 11.4%

A diversified insurance portfolio


Geographic diversification Market Share Diversified by industry class

Home and Motor Insurance Australia - 28%

Commercial Insurance Australia - 17%

Compulsory Third Party NSW - 27%

Compulsory Third Party QLD - 50%

QLD 30%

NSW 32%

VIC 21%

WA 8% Other

9%

Gross Written Premium by Geography

Motor 33%

Home 28%

CTP 15%

Gross Written Premium by Product

Commercial 24%

9

Distribution – trusted brands


Differentiated offerings, preserving core elements of each brand

10

Lead national brand: • Relieve stress • Competitive price positions

State based brand in NSW and VIC: • Providing certainty • Service excellence and

more comprehensive cover

Suncorp Insurance: • The must-have

Queensland insurance • Strong community

connections

National life stage brand: • Rewarding over 50s • Showing understanding • Delivering service

excellence

Personal Insurance market share in each State(1)

WA 15%

SA 15%

Vic 32%

Qld 34%

TAS 36%

NSW 29%

NT 11%

(1) Roy Morgan market shares (Jul 2015)

Suncorp Life (June 2015)

11


Individual in-force premiums up 5.6% Claims experience $8 million favourable Lapse experience $7 million favourable

Super new business up 23.4% driven by WealthSmart and Everyday Super

Strong growth in Direct sales via insurance brands

$m FY15 %Δ Underlying profit after tax 113 34.5 Market adjustment after tax 12 50.0 Life profit after tax 125 35.9

Suncorp Bank (June 2015)

August 2015 Suncorp Group Limited

12

$m FY15 %Δ Bank profit after tax 354 55.3

NIM improved to 1.85% Bank CET1 increased to 9.15%

Cost to income ratio down to 53.4% Deposit to loan ratio 65.3%

Home lending up 7.1% Business lending down 7.3%

Non performing loans down 20.1% Gross impaired assets down 34.5%

Suncorp Net Interest Margin Movements (June 2015)

13


1.72

%

1.85

%

0.21%

0.05%

(0.11%)

(0.01%) (0.01%)

2014 Bank NIM Lending Mix / Spreads Retail Funding Mix / Spreads

Wholesale Funding Mix/Spreads

Balance sheet management

Earnings on Invested Capital

2015 Bank NIM

Suncorp capital (June 2015)

14


$570m excess CET1 on a post-dividend basis

$m General Insurance Bank Life NOHC and

other entities Suncorp

Group total

CET1 3,069 2,802 438 320 6,629

CET1 target 2,298 2,678 334 106 5,416

Excess (pre-div) 771 124 104 214 1,213

Dividend (643)

Excess (post-div) 570

CET1 coverage ratio (pre-div) 1.40x 9.13% 1.77x

CET1 targets 1.05x 8.75% Amount equal to sum of PCA plus a target

excess

15


Aps330 Capital (Sept 2015)

CET1 position relative to peers Capital (CET1 ratio)

8.22%

8.53%

8.70% 8.81% 8.82%

9.13%

8.86%

Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15

Note: The Bank’s CET1 ratio decreased from Jun-15 to Sep-15 following the declaration of the Suncorp Group dividend in August.

8.86% 8.17%

8.91% 9.20% 9.10% 9.00% 9.94%

SUN Regional 1 Regional 2 Major 1* Major 2 Major 3 Major 4

CET1 source: regulatory CET1 per latest company disclosures. Majors as at Jun-15, Regional 1 as at Aug-15 and Regional 2 as at May-15. Major 1 is a pro-forma ratio post capital raising.

Strong capital position

Growth opportunities

16


Suncorp market shares

#Vero and AAI ^Residential mortgages `In-force individual risk premiums Australia.

Potential to grow to natural market share in targeted segments

Suncorp Bank^ 3%

Suncorp Life` 5%

Incremental growth opportunities in markets where we are a

leading player

Home and Motor Insurance

29% QLD CTP 51%

OUR HOW

Growth opportunities from entering new markets and expanding in

existing markets

CI Aust

16% CI NZ

25% PI NZ#

24% CTP NSW

21%

Customer

17


A strengthened customer franchise

• Industry leading satisfaction in key business lines

• 4 of the top 5 most advocated national insurance brands

• Improved retention

• Deeper relationships

• Attracting new customers

Strong outcomes across the Group

82 79

87 85

83

88

Motor Home Bank

Industry leading customer satisfaction

84 82

84

Industry average Jun 14 Jun 15

Unlocking the value of our 9 million customers

18


Optimised Platform

Connected customers

Simplified systems

Underpinned by Business Intelligence

Sitting within a secure and scalable cloud

Supported by a unique way of working SERVICE

CULTURE INNOVATION RELENTLESS EXECUTION AGILE/ LEAN PARTNERING

BANK LIFE GENERAL INSURANCE CORPORATE

DATA LAKE SUNCORP DATA SERVICES

CLOUD ENVIRONMENT

Suncorp Bank – APS330 Sept 2015 Update

19


Suncorp Bank (Sept 2015)

20


Australia’s leading regional bank

Branch, Business Centres as at Sep 2015. Customer figures at Dec 2014. Mobile Banking App won the QLD iAward, June 2014.

• Total customer base of 1,059,000

• Network of 200+ branches & business centres

• Award-winning Mobile Banking App

New South Wales 41 branches

3 business centres

Queensland 124 branches

7 agencies 12 business centres

South Australia

1 branch 1 business centre

Victoria 9 branches

2 business centres

Tasmania 1 branch

ACT 2 branches

Western Australia 12 branches

1 business centre

Home lending up 2.9% Business lending down 1.7%

Bank CET1 8.86% comfortably within the 8.50%-9.00% target range

Non performing loans down 7.8%

Gross impaired assets down 7.3%

Suncorp Bank lending portfolio (Sept 2015)

21


Conservative approach to growth

Housing 81% (up 2.9%)

Comm/SME 10%

(down 1.4%) Agri 8%

(down 2.0%) Consumer

1% (down 3.9%)

Lending assets $53 billion 73% business lending exposures <$10m

< $5m 55%

$5-$10m 18%

$10-$25m 20%

$25-$50m 7%

21

Suncorp Bank lending portfolio (Sept 2015)

22


Now significantly de-risked with 80% mortgage portfolio

Summary Portfolio Metrics

Jun 2009

Sept 2015

Exposures over $50m 121 0

Impaired assets $1,474m $202m

Impairment losses $710m $6m

Jun 2009 Lending portfolio ($54.4 bn)

Sep 2015 Lending portfolio ($53 bn)

Housing 52%

Com/ SME 10% Agri

6%

Corporate &

Property 30%

Housing 52%

Com/ SME 10% Agri

6%

Corporate &

Property 30%

Housing 81%

(up 2.9%)

Comm/ SME 10%

(down 1.4%) Agri 8% (down 2.0%)

Consumer 1%

(down 3.9%)

Mortgage portfolio (Sept 2015)


Retail FY14 HY15 Sep15 Owner Occupier 69.5% 68.9% 69.1% Investor 30.5% 31.1% 30.9% Interest Only 22.1% 23.7% 24.4% Low Doc 3.2% 2.7% 2.0% Direct 40.3% 39.4% 36.5% Broker 59.7% 60.6% 63.5% Mortgage Insured 47.8% 44.7% 38.4% Not Mortgage Insured 52.2% 55.3% 61.6% Fixed 20.9% 20.8% 19.8% Variable 79.1% 79.2% 80.2% Average Loan size $218,488 $219,800 $224,536 LVR Group (0.00% - 80%) 59.2% 61.7% 65.6% LVR Group (80.01% - 90%) 24.0% 24.8% 23.3%

LVR Group (90.01% and above) 16.7% 13.5% 11.0% 90 days+ past due 0.93% 0.78% 0.67% Impairment losses to Gross Loans 0.06% 0.06% 0.06% Specific Provisions 0.01% 0.01% 0.01% Loss Rate 0.004% 0.001% 0.001%

LVR Distribution

23

Loan Type

Owner Occupier

69.1%

Investor 30.9%

QLD 51%

NSW/ ACT 28%

VIC/SA/Other 13%

WA 8%

Geography

Fixed 19.8%

Interest Type

24.2%

14.1%

27.3%

11.3% 12.0%

9.6%

1.5% 0 - 60% 60.01 - 70% 70.01 - 80% 80.01 - 85% 85.01 - 90% 90.01 - 95% 95%+

Variable 80.2%

Housing loans – New Originations (Sept 2015)

24


Improved LVR mix

• Continued improvement in quality of new home lending

• Significant improvement in risk grades at origination

• Portfolio LVR mix continues to shift toward sub-80% lending

New mortgage originations by LVR

67% 69% 72% 80% 86% 89% 83% 89%

8% 10% 15%

13% 11% 8%

12% 8%

25% 21% 13% 7%

4% 3% 5% 2%

Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15

<80% 80.01% - 90% 90.01% +

0.92% 0.98%

1.03% 0.93%

0.81% 0.74% 0.77% 0.78%

0.67%

0.06%

0.52%

0.01%

Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15

Total home lending Home lending impaired Past due non-hardship HL Loss Rate

Credit quality (Sept 2015)

25


Impaired and non-performing loans both down significantly

Gross impaired loans by segment ($m)

28 33 38 31 28

163 162 151 125 119

90 67 63

62 55

Sep-14 Dec-14 Mar-15 Jun-15 Sep-15

Retail lending Agribusiness lending Commercial/SME lending

Past due home loans (% gross home loans)

Realising benefits from improved lending asset quality underpinned by enhanced risk management capability

APS 330 Credit quality (Sept 2015)

26


Impairments • Impairment losses of $6 million demonstrates Suncorp Bank’s focus on risk management and improved credit quality.

0.04%

0.13%

0.18% 0.17% 0.15%

0.14%

0.11%

SUN Regional 1 Regional 2 Major 1 Major 2 Major 3 Major 4

0.26%

0.38%

0.27% 0.28% 0.28% 0.29%

0.18%

SUN Regional 1 Regional 2 Major 1 Major 2 Major 3 Major 4

Impairment losses to gross loans Net impaired loans to gross loans

SUN’s target range

10-20bps

Source: Latest peer financial reports

Risk Position (Sept 2015)


Commercial (SME) asset growth and credit quality

27

• Portfolio contracted 1.4% to $5.3 billion

• Credit quality is within risk tolerances with impaired assets declining 12.7%

• The Bank continues to write low-risk, well secured business lending within its target market

• The portfolio is heavily weighted towards less than $5 million lending, with 99% of customer groups within this range.

• By value, more than 55% of the portfolio consists of customer groups with an average exposure of less than $5 million.

Commercial (SME) ($m)

5,297 5,472 5,531 5,553 5,666 5,746 5,772

5,576 5,593 5,447 5,353 5,278

1.56

%

1.56

%

0.88

%

0.88

%

1.00

%

2.05

%

0.88

%

0.86

%

1.20

%

1.16

%

1.16

%

1.05

%

Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14* Mar-15* Jun-15* Sept-15*

Commercial portfolio ($m) Impaired assets/Total portfolio (%)

Note: From Dec-14 the remainder of the Bank’s Non-core Portfolio was included in the Commercial/SME portfolio.

Risk Position (Sept 2015)


Agribusiness asset growth and credit quality • Portfolio contracted 2.0% to

$4.3 billion

• Credit quality is within risk tolerances with impaired assets declining 21.2%

• The Bank continues to exercise care and caution with its approach to risk selection in the agribusiness sector

• The portfolio is heavily weighted towards less than $5 million lending, with 93% of customer groups within this range.

Agribusiness

4,039 4,125

4,311 4,389

4,484 4,560 4,624 4,575 4,534 4,498

4,400 4,312

2.46

%

2.20

%

3.22

%

3.77

%

4.06

%

4.58

%

4.50

%

3.56

%

3.58

%

3.36

%

2.83

%

2.75

%

Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Agribusiness portfolio ($m) Gross impaired assets/Total portfolio (%)

28

Funding & Liquidity

29


Long Term Funding Profile ($m)

30


0

200

400

600

800

1,000

1,200 D

ec 1

5

Jan

16

Mar

16

Apr

16

May

16

Aug

-16

Sep

16

Dec

16

Feb-

17

Mar

17

Apr

17

Oct

17

Nov

17

Dec

17

Apr

19

Aug

19

Nov

19

Apr

20

Oct

-20

Covered Senior Unsecured (Domestic) Senior Unsecured (Offshore)

Funding and Liquidity

31


Diverse access to funding markets

Deposit to loan ratio

Issue Date Amount Tenor Covered Bond

Oct 2014 A$950m 5yr FRN/5yr Fixed

Nov 2012 A$600m 5yr Fixed

Jun 2012 A$1.1bn 4.5yr Fixed

Senior Unsecured (Benchmark)

Oct 2015 A$750m 5yr FRN/Fixed

Apr 2015 US$600m 5yr Fixed

Sep 2014 GBP250m 3yr FRN

Apr 2014 A$750m 5yr FRN

Mar 2014 US$850 3yr FRN/Fixed

Apr 2013 A$750m 3yr FRN

Private Placements

Nov 2015 Outstandings US$290m Offshore Private Placements

Nov 2015 Outstandings A$1.38bn Domestic Private Placements

RMBS

Mar 2015 A$1.25bn 4yrs weighted average

May 2013 A$1.15bn 4yrs weighted average

• Strong Bank issuer credit rating of A+ / A1 / A+ creates genuine competitive advantage to other regional banks

• Modest term funding requirements for FY15/16

• The bank continues to look for strategic opportunities to lengthen and diversify term funding from established, well recognised domestic and offshore programmes

o Short Term Wholesale supported by strong domestic fund appetite with diversity into offshore CP markets

o During FY15 the Bank executed RMBS, covered bond and senior unsecured transactions in the A$, GBP and USD markets.

o Suncorp Bank has historically issued in A$, US$, EUR, GBP, JPY & Asian currencies with all funds swapped into A$

Diversification of Funding Profile

32


November 2015

• Suncorp Bank’s Funding profile has diversified to include multi-currency and longer tenor issuance.

• Suncorp Bank has access to a wide range of wholesale funding markets with a proven ability to execute transactions.

* Charts do not include Preference Shares

Domestic, $3,630,

28%

Offshore, $2,462,

19% Covered, $2,650,

21%

RMBS, $3,366,

26%

Sub Debt, $742 , 6%

Asset Class

AUD, 81%

USD, 15%

GBP & EUR, 4%

Currency Class

23%

26%

10%

15%

26%

1yr 2yr 3yr 4yr 5yr and over

Remaining Tenor

33


Liquid Assets transitioned to LCR (June 2015) Components of Liquid Assets ($bn) Components of LCR ($bn)

1.2 1.6 1.9 3.6 2.8

9.7 7.7 6.2

5.3 5.0

4.2

4.2 4.2

4.0 4.3

01-Jan-00 02-Jan-00 03-Jan-00 04-Jan-00 05-Jan-00

Cash, Govt, Semi-govt Bank, NCD, Bills, RMBS, Supra, Covered Bonds Internal RMBS

Jun 13 Dec 13 Jun 14 Dec 14 Jun 15

15.1

13.5 12.3 12.9

12.1

3.6

7.1

2.8

6.3

4.8

1.3

4.8

1.3

1 2 3 4 5

HQLA assets CLF

Required LCR qualifying liquid assetsBuffer

31 Dec 14 30 Jun 15

100% LCR

100% LCR

119% LCR

118% LCR

The Bank’s transition to Basel III APS210 Liquidity standards has changed the composition of the Bank’s liquid assets. The median LCR since implementation from 1 January to 30 June 2015 was 120%. The LCR at 30 June 2015 was 118%.

LCR defined as Liquidity Coverage Ratio. CLF defined as Committed Liquidity Facility

Australian Mortgages

34


35


• Suncorp has a custom built origination system called Sunloans

• This system has an automated decision engine model (scorecard) which reflects the Bank’s risk strategy and underwriting criteria

• Underwriting that is not approved via the scorecard is completed by accredited Suncorp staff under a Delegated Credit Authority approved by the Chief Risk Officer *

• Aggregators/ Brokers have no approval authority

• Post approval, audits are performed regularly by the hindsight review team and QBE LMI for LMI loans

Approved

Suncorp Central Processing Area

SUNCORP CENTRES

211 offices nationwide

AGGREGATORS 22 nationwide

Automated Credit Scoring Model

‘Sunloans’

37% 63% Customer

Referred

Delegated Credit Authority ‘DCA’

Declined

58%

31%

11%

Referred Approved

Declined Approved

65%

11%

Home loan underwriting process

Suncorp Bank mortgage portfolio

* Delegated by the Chief Risk Officer to Executive Manager Credit Oversight and Assurance for Delegated Credit Authority below Banking Credit.

14 in-branch lenders

* All percentages as at September 2015

36


Suncorp Bank mortgage portfolio Underwriting criteria & valuation requirements Underwriting Criteria Valuation Requirements

Overview: • Underwriting criteria is built into Suncorp’s automated Credit Scoring Model – • Credit Bureau reports required for all borrowers. Where report is not satisfactory, loan

is referred via the scorecard to a higher approval authority for decision • Delegated Credit Authorities are held in the Banking Credit team and selected

Lending Staff who are achieving benchmark results in Compliance

Overview: • All valuations are undertaken by Accredited Panel Valuers appointed by Suncorp • Suncorp utilises approx. 120 valuers nationwide • Independent valuations undertaken for approx. 85% of loans on Suncorp’s balance

sheet

Serviceability: • Customer serviceability determined via an assessment of affordability using the

greater of the “floor” rate (5 year BBSW average for the previous quarter + 3% buffer + an overlay of 156bps) or the actual Customer product rate + 2%

• Confirmation and stability of employment investigated and appropriate income details required

• To verify loan affordability, Minimum Household Living Expenses are adopted if they are higher than the customer’s actual living expenses. These allowances are updated quarterly and align with recognised indices

Valuations are required: • Loans with LVR > 70% (subject to the purpose & loan amount) • For metro properties if loan amount > $500,000 ** • For non metro properties if loan amount > $300,000 ** • Suncorp valuations are processed via the valuation management system (VMS),

which is a fully automated system supplied by Core Logic that links the Bank to the Valuation firms – the selection of a valuer is random and controlled by the system.

• Credit Policy and valuation rules are applied via the valuation decision maker (VDM), which determines the type of valuation to be used for a particular scenario.

• Lenders / Banking Credit can override the system and request a full valuation. ** If the LVR is <= 80% and the loan amount is < $1M, a valuation may not be required if the contract of sale is acceptable and the Bank can validate same**

Acceptable loan security: • Parameters establish acceptable security types, acceptable geographic locations,

maximum LVR and maximum loan amounts for particular locations • For fully verified loans, maximum LVR (inclusive of LMI fee) is capped at 95% LVR • All loans are supported by registered 1st mortgage with full recourse to the borrower

Panel valuers are individually accredited based on: • Industry qualifications • Current professional development certificates • Minimum $1m professional indemnity insurance cover • Approval by Suncorp Banking Credit and LMI sign off

November 2015

37


Broker Accreditation Requirements Overview of Mortgage Brokers

Formal accreditation process: • Must have ASIC issued Australian Credit License or be appointed as a Credit

Representative by a license holder

• be a member of an approved Aggregator group

• Must be a member of the Mortgage and Finance Association of Australia or Finance Brokers Association of Australia (MFAA or FBAA)

• Cannot be registered without full industry accreditation (e.g. National Consumer Credit Protection (NCCP) training)

• Ongoing training requirements also need to be achieved

Broker responsibilities: • Act as intermediaries between the borrower and Suncorp in the initial phase of

mortgage origination

• Act solely as originators of loan applications and have no authority to perform any part of the loan assessment, approval or servicing

• Validation of employment and income data conducted by Suncorp staff

Experience and training (administered by Aggregators): • Must have a minimum of 2 years industry experience

• Must be a member of the Mortgage and Finance Association of Australia or Finance Brokers Association of Australia (MFAA or FBAA) and be personally identified (e.g. 100-point check)

• Have a Certificate IV in Mortgage Lending

• Subject to clear Australian Federal Police checks

• Must hold Professional Indemnity Insurance

An annual review process is performed by Channel Management on Aggregator relationships and includes: • The quality/quantity of mortgage applications

• Percentage of Suncorp business and arrears

• Portfolio trends compared to industry averages

• Changes in ownership

• Fraudulent and suspicious activity

Suncorp Bank mortgage portfolio Mortgage brokers

November 2015

38


Customer Contact Strategy (Collections)

Mitigation Strategy (Recoveries)

Legal Process and Asset Realisation (Repossessions) Day 1 – Day 60 Day 60 – Day 90 90 + Days

• System generated arrears notice sent on Day 7

• After Day 7 continuous contact via predictive dialler

• Aim to elicit “Promise to Pay”

• 14 full-time Officers dedicated to covering outbound calls

• 5 full-time Officers dedicated to covering inbound calls

• Default Notice / Notice to Exercise Power of Sale 30 days

• Staff target 80-85 contacts per person per day

• Customer transferred to Late Collections Team (5 staff)

• Notice to Quit issued

• Strict adherence to NCC Guidelines

• Approval of Hardship Cases on application basis

• QBE LMI send arrears report at 60 days

• Lodge Statement of Claim with Supreme Court

• File Writ of Possession

• Judgement and execute warrant for vacant possession

• Obtain valuation, recommend real estate agent and complete any capital works as required

• Repossessions Team focus on loss mitigation strategy (5 staff)

• Auction and sale of property

• LMI claim made for any shortfall

Suncorp Bank mortgage portfolio Comprehensive arrears management

November 2015

Investor Reporting

Contacts


Simon Lewis Adam Parry Katie Taylor-Groth

Executive Manager Funding Institutional Relationship Manager Institutional Relationship Manager

[email protected] [email protected] [email protected]

07 3362 4037 07 3362 4031 07 3362 4049

For further information on Treasury Funding please go to http://www.suncorpbank.com.au/financial-services/treasury/wholesale-funding

November 2015

39

mailto:[email protected]







Important disclaimer

This presentation contains general information which is current as at 18th November 2015. It is information given in summary form and does not purport to be complete.

All amounts are in Australian dollars unless otherwise stated.

It is not a recommendation or advice in relation to Suncorp or any product or service offered by Suncorp or any of its subsidiaries. It is not intended to be relied upon as advice to investors or potential investors, and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice, when deciding if an investment is appropriate.

This report should be read in conjunction with all other information concerning Suncorp filed with the Australian Securities Exchange (ASX).

The information in this report is for general information only. To the extent that the information may constitute forward-looking statements, the information reflects Suncorp’s intent, belief or current expectations with respect to its business and operations, market conditions, results of operations and financial condition, capital adequacy, specific provisions and risk management practices at the date of this report. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties, many of which are beyond Suncorp’s control, which may cause actual results to differ materially from those expressed or implied.

Suncorp undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this report (subject to ASX stock exchange disclosure requirements).

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