2016 q3 earnings presentation albaraka türk · 2016 q3 earnings presentation albaraka türk. ... 2...
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HİZMETE ÖZEL
Agenda
1Macroeconomic / Banking Outlook
2 2016 Q3 Financial Results
3Market Comparison
Appendix
4
HİZMETE ÖZEL
Macroeconomic Outlook
Economic activity slowed in the second quarter GDP grew by 0.3 and 3.1 percent in quarter-on-quarter and year-on-year terms, respectively main driver of annual growth was final domestic demand Indicators for the third quarter of 2016 point to further deceleration in economic activity. Economic activity is expected to recover starting from the 4th Quarter Decisions of credit rating agencies caused domestic financial markets to fluctuate Consumer inflation ended the third quarter at 7.28 percent the persistent slump in tourism and the gradual decline in the favorable effects of
commodity prices are likely to cause some increase in the current account deficit in the short term
1
Global financial markets and capital flows remain highly volatile.
Uncertainties surrounding monetary policies stopped the ongoing decline in bond yields
Growing expectations of a possible Fed rate hike
Ultra-loose monetary policy incentives mainly by the ECB and BoJ
Portfolio flows into emerging economies have recently started to slow down again
Global Economy
Turkish Economy
HİZMETE ÖZEL
Banking Industry and Participation Banks
2
In 3Q 2016 , net profit of banking sector raised by 56% comparing to 3Q 2015.
Year to Date, credit growth rate reached 8,4% while NPL amount raised 23,4%.
The loan growth lost pace in 2016.
Commercial loans continued to grow at a higher rate than consumer loans.
Uptrend in the amount of NPL continues and the NPL ratios are increasing.
Banking Industry
In the third quarter of 2016, continued to grew under the banking sector.
Bank Asya's banking operations suspended by Turkish Deposit Insurance Fund (TMSF).
Continuing branch network expansion.
Number of total branches is 942 at the end of 3Q.
Participation Banks
HİZMETE ÖZEL
Agenda
1Macroeconomic / Banking Outlook
2 2016 Q3 Financial Results
3Market Comparison
Appendix
4
HİZMETE ÖZEL
Net Profit178,9 mn TRL
Total Assets28,6 bn TRL
Total Credits20,3 bn TRL
Equity2,2 bn TRL
ROAE: 12,54%NPSM: 4,18%
NPL: 4,53%
Loan/Deposits: 101,11%
CAR: 12,74%
Albaraka Türk 2016 3Q Snapshot3
HİZMETE ÖZEL
29.213 29.562 28.811 29.364 28.633
9.738 10.265 10.364 10.3769.570
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
TRL USD*
Growth in Total Assets
Funded Credits; 71%Securities
Portfolio; 6%
Liquid Assets; 20%
Other Assets; 3%
*USD equivalent of total assets
Ytd Growth: -3,1 % in TRL terms QoQ Growth: -2,5 % in TRL terms
Total Assets (million TRL) Asset Segmentation (Q3’16)
4
-2,0%
8,40
8,058,13
8,047,96
Q3'16Q2'16Q1'16Q4'15Q3'15
9,959,909,87
9,539,47
Q3'16Q2'16Q1'16Q4'15Q3'15
Growth in Funded Credits
971 1.052 1.072 1.182 1.251
746763 746
763 580
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
Available for sale Held to Maturity
1.8311.717 1.814 1.818
1.945
*USD equivalent of total funded credits
Total Funded Credits (including financial leasing, million)
Total Securities Porfolio ( TRL million)
5
Ytd Growth: 4,2% in TRL terms YoY growth: 4,8% in TRL terms
19.399 19.505 19.891 20.059 20.331
6.466 6.773 7.155 7.088 6.795
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
TRL USD*
Credit Yields(1) (%)
(1) Profit share income received from credits for the last 4Q/4Q average credits
Securities Yield(2) (%)
(2) Profit share income received from securities for the last 4Q/4Q average securities
+6,7%
HİZMETE ÖZEL
Funded Credits PortfolioComposition of Total Funded Credits* (%)
*According to BRSA definition
Currency Composition of Total Funded Credits* (Q3’16)
55%30%
15%
TRL
USD*
EUR*
*Including USD & EUR indexed credits
62 62 60 64 68
2.3
82
2.4
31
2.5
83
2.6
37
2.6
15
124 124124 123 111173 171167 171 173
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
Credit Cards
Housing
Vehicle
Consumer
Total Retail Credits* (%)
Retail credits (excluding installment based
commercial credits and corporate credit cards)
grew to 2.967 million TRL in Q3 2016 up from
2.788 million TRL in Q4 2015
Housing finance is primary segment among retail
credits
6
+8,2%
*Excluding installment based commercial credits and corporate credit cards
Q3’15 Q4’15 Q1’16 Q2’16 Q3’16
Corporate Credits 39,8 38,9 38,7 41,7 41,9
SME Credits 45,9 46,7 46,5 43,2 43,5
Retail Credits 14,2 14,3 14,7 15,1 14,6
Total 100.0 100.0 100.0 100.0 100.0
HİZMETE ÖZEL
70,5
60,0 57,352,3 49,4
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
2,60 2,402,78
3,46
4,53
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
503 468553
707
941
356281
317369
465438 439
568
653
932
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
NPA Spesific Provisions Collateral
Asset Quality
Non-performing Loans (TRL million)
6370
7992
122
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
Cost of Risk** (bps)
NPL Ratio*
** Spesific provisions for credits for last 4Q/ 4Q average credits
*Including financial leasing & accruals and rediscounts
Provisioning Ratio (%)
7
HİZMETE ÖZEL
21% 23% 24% 24% 21%
14% 16% 16% 16% 16%
64% 61% 61% 61% 63%
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
Fund Borrowed Current Accounts Participation accounts
Composition of Total Liabilities (Q3’16, %) Composition of Funding Base (TRL million)
70
18
84
Funds Collected
Wholesale Funding
Shareholders' Equity
Other Liabilities
25.40225.967
-2,2%
26.461
Total Liabilities8
25.526 25.875
HİZMETE ÖZEL
5,47%5,42%5,43%5,36%5,33%
8,30%8,23%
8,15%7,84%7,66%
1,63%1,70%1,76%1,89%1,94%
1,84%2,22%
2,55%2,51%2,43%
Q3'16Q2'16Q1'16Q4'15Q3'15
Average TL FC Precious Metal
Total Funds Collected
20.438 20.346 19.494 19.767 20.109
6.813 7.065 7.012 6.985 6.721
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
TRL USD*
Total Funds Collected (million)
Cost of Funds Collected**
*USD equivalent of total collected funds
**Profit share expense to depositors for the last 4Q/4Q average participation accounts
5726
152
TRL
USD
EUR
Others
Currency Composition of Funds Collected (Q3’16, %)
Maturity Composition of Funds Collected (Q3’16, %)
20
14
57
22 6 Current Acc.
Up to 1 month
Up to 3 months
Up to 6 months
Up to 1 year
>1year
9
-1,6%
HİZMETE ÖZEL
Q3’15 Q4’15 Q1’16 Q2’16 Q3’16
Growth (%)
Y-Y YTD.
Letter of Guarantee 7.844 7.730 8.011 7.899 7.746 -1,2 0,2
Letter of Credit 626 640 681 611 583 -6,9 8,9
Others* 2.101 2.041 3.001 2.551 2.648 26,0 29,7
Total: 10.570 10.411 11.693 11.061 10.977 3,9 5,4
Off balance sheet growth10
Off Balance Sheet Composition (%)
74 74 69 71 71
6 66 6 5
20 20 26 23 24
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
LG LC Others
LGs-to-Total Assets
26,8%26,1%
27,8%26,9% 27,1%
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
Off Balance Sheet (TRL million)
*Revocable credit limits not included.
HİZMETE ÖZEL
Income- Cost Dynamics11
(000 TRL)
Year on Year Change Quarterly Change Notes
3Q’15 3Q’16 % Q2’16 Q3’16 %
Net Profit
Share Income642.626 757.050 17,81 236.473 242.978 2,75
Profit share expense increased by 14,7% while PSI
raised by 16,0% YoY basis. Joint venture projects
returns reached to TL 62.108 in 3Q 2016 (3Q 2015:
TL 31.335)
Net Fee
Income94.198 105.191 11,67 41.739 34.896 -16,39 Higher Net Fee income in 3Q 2016
Net Trading
Income30.971 51.750 67,09 37.941 20.314 -46,46
Higher Foreign Exchange income in 3Q2016: 72.937
(3Q 2015: -21.435 ) due to Lower volatility in
exchange rates
Other Income 94.174 82.120 -12,80 31.479 17.109 -45,65Reversal of prior year provisions in 3Q’ 2016 is lower
than 3Q’ 2015
Provisioning 123.102 227.124 84,50 70.554 82.944 17,56 Higher provisions in 2016
Other Costs 473.701 547.336 15,54 168.319 171.878 2,11YoY increase in other costs due to increase in
Personnel Expenses, FX rates
Tax 53.315 42.784 -19,75 10.213 10.158 -0,54 -
Net Profits 211.861 178.867 -15,57 65.475 50.317 -23,15 -
HİZMETE ÖZEL
Agenda
1Macroeconomic / Banking Outlook
2 2016 3Q Financial Results
3Market Comparison
Appendix
4
HİZMETE ÖZEL
Total Growth – 2016 3Q12
Percent 2016 3Q 2015 3Q
Albaraka
Türk
Participation
Banks*
Banking
Sector*
Albaraka
Türk
Participation
Banks*
Banking
Sector*
Asset Size -3,1 -0,2 7,5 26,8 17,2 20,2
Total Credits** 4,8 -0,6 8,4 20,5 16,0 20,3
Deposits/Collected
Funds***-1,6 -1,9 7,5 22,2 13,3 17,9
18,2%
15,1%
26,4%
12,6%
21,0%
28,3%
33,9%
39,7%
17,8%
24,4%
20152014201320122011
Asset Size GrowthBanking Sector
Albaraka Türk
* According to BRSA data
** Including Leasing Receivables, Interest (Profit Share) and Income Accruals and Rediscounts from Loans, Loans Extended to Banks
*** Including Deposit (Participation Funds) Interest (Profit Share) Rediscounts and Deposit (Participation Funds) Collected from Banks
HİZMETE ÖZEL
Market Share– 2016 3Q13
Percent 2016 3Q 2015 3Q
Albaraka
Türk/
Participation
Banks
Albaraka
Türk/ Banking
Sector
Participation
Banks/ Banking
Sector
Albaraka
Türk/
Participation
Banks
Albaraka
Türk/ Banking
Sector
Participation
Banks/ Banking
Sector
Asset Size 23,8 1,1 4,7 23,9 1,2 5,1
Total Credits* 24,8 1,2 4,9 23,7 1,3 5,3
Deposits/Collected Funds** 27,1 1,4 5,2 26,0 1,5 5,7
* Including Leasing Receivables, Interest (Profit Share) and Income Accruals and Rediscounts from Loans, Loans Extended to Banks
** Including Deposit (Participation Funds) Interest (Profit Share) Rediscounts and Deposit (Participation Funds) Collected from Banks
Albaraka Türk; 23,8%
Participation Banking;
4,7%
Banking Sector Participation Banking Sector
HİZMETE ÖZEL
9,58
9,8
9,08
9,07
9,44
12,11
15,27
12,22
12,21
12,74
Q3'15
Q4'15
Q1'16
Q2'16
Q3'16
CAR Tier I
Capitalization
Capital Adequacy Ratio (%)
14
+63 bps
+3,16 bps
250 million USD Basel 3 compliant
Tier 2 SukukIssued
200 million USD Basel 2 compliant Sukuk
removed from CAR calculations.
-3,05 bps
HİZMETE ÖZEL
Profitability & Efficiency
15,08 15,57
12,54
Q3'15 Q4'15 Q3'16
Net Profit Share Margin(%) ROAE(NI) (%)
3,93 3,93
4,18
Q3'15 Q4'15 Q3'16
Cost/Income (%)
54,96 55,06
51,66
Q3'15 Q4'15 Q3'16
Loan/ Deposits (%)
94,92 95,87
101,11
Q3'15 Q4'15 Q3'16
15
HİZMETE ÖZEL
Ratios16
Percent 2016 3Q 2015 3Q
Albaraka Türk Participation
BanksBanking Sector Albaraka Türk
Participation
Banks
Banking
Sector
CAR 12,74 15,66 16,00 12,11 14,39 14,65
NPL Ratio 4,53 3,66 3,31 2,59 5,45 2,90
Provisioning Ratio 49,38 60,21 76,37 70,49 71,24 73,08
Loan/Deposits 101,48 112,36 116,73 97,24 110,61 117,23
ROAA (IBT) 1,15 0,91 1,88 1,36 0,81 10,34
ROAE (NI) 12,54 6,93 13,32 15,35 -0,54 11,24
Asset Yield 8,97 8,77 8,32 8,23 8,55 7,85
Asset Spread 4,33 4,51 3,37 3.66 4,47 3,26
Net Profit Share Margin 4,18 4,59 3,98 3,93 4,54 3,83
Net Fee Income / Avg. Assets 1,20 0,85 0,97 1,06 1,00 1,02
Op Costs / Avg. Assets 2,43 2,39 2,18 2,40 2,69 2,31
Cost/Income* 51,66 45,80 40,59 54,65 51,81 47,53
Credits / Branches (000‘TRL) 95.637 87.098 140.110 92.620 78.035 125.211
Staff / Branches 17,82 15,08 17,75 17,51 15,80 17,68
CA / Deposits 19,91 26,53 19,38 19,32 25,83 19,76*Cost: Operating Costs, Income: NII/NPSI, Net Fees and Commissions Income, Other Income
HİZMETE ÖZEL
Agenda
1Macroeconomic / Banking Outlook
2 2016 3Q Financial Results
3Market Comparison
Appendix
4
HİZMETE ÖZEL
Summary Balance Sheet17
(Thousand TRL) Sep’16 Dec'15 Growth (%)
Cash and Banks 5.748.567 7.387.412 -22,18%
Financial Assets 1.222.903 1.073.849 13,88%
Funded Credits 20.331.255 19.505.392 4,23%
Cash Credits 18.959.063 18.370.399 3,20%
NPL 941.367 468.413 100,97%
Provisions 463.767 280.847 65,13%
Net Financial Leasing Receivables 895.714 947.427 -5,46%
Investments Held to Maturity (Net) 580.236 762.890 -23,94%
Associates 29.969 25.469 17,67%
Fixed Assets 515.677 545.411 -5,45%
Assets Held For Sale and Investment 103.565 22.819 353,85%
Other Assets (inc. Tax Assets) 310.586 238.757 30,08%
Total Assets 28.632.535 29.561.999 -3,14%
Funds Collected 20.108.581 20.346.178 -1,17%
Funds Borrowed 3.966.774 4.104.688 -3,36%
Debts 715.516 1.457.345 -50,90%
Provisions (inc. Taxes) 261.994 310.317 -15,57%
Tier II Sukuk 1.318.291 1.239.557 6,35%
Shareholders’ Equity 2.221.109 2.103.914 5,57%
Capital 900.000 900.000
Capital Reserves (inc. Premium) 192.815 200.910
Profit Reserves 946.332 696.531
Profits 181.962 306.473
Prior Periods 3.095 3.610
Current Year 178.867 302.863
Total Liabilities 28.632.535 29.561.999 -3,14%
HİZMETE ÖZEL
Summary Income Statement18
(Thousand TRL) Sep’16 Sep15 Growth (%)
Profit Share Income 1.635.408 1.409.456 16,03%
Profit Share Expense 878.358 766.830 14,54%
Net Profit Share Income 757.050 642.626 17,81%
Net Fees and Commissions Income 105.191 94.198 11,67%
Fees and Commissions Received 150.630 130.490 15,43%
Fees and Commissions Paid 45.439 36.292 25,20%
Net Trading Income 51.750 30.971 67,09%
Other Operating Income 82.120 94.174 -12,80%
Total Operating Profit 996.111 861.979 15,56%
Provisions for Loan Losses 227.124 123.102 84,50%
Other Operating Expenses 547.336 473.701 15,54%
Net Operating Profit 221.651 265.176 -16,41%
Tax Provision 42.784 53.315 -19,75%
Net Profits 178.867 211.861 -15,57%
HİZMETE ÖZEL
Disclaimer
THIS PRESENTATION AND THE INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND MAY NOT BE REPRODUCED, CIRCULATED, DISTRIBUTED OR PUBLISHED (IN WHOLE OR IN PART) OR
DISCLOSED BY RECIPIENTS TO ANY OTHER PARTY. BY VIEWING THIS PRESENTATION, YOU AGREE TO BE BOUND BY THE FOREGOING LIMITATIONS.
This presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase any securities of Albaraka Türk Katılım Bankası A.Ş.,
nor shall any part of it form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities
of the Bank. The information contained in this document is published for the assistance of recipients, but is not to be relied upon authoritative or taken in substitution for the exercise of
judgment by any recipient. The Bank does not accept any liability whatsoever for any direct or consequential loss arising from any use of this document or its content. Any purchase of
shares of the Bank should be made solely on the basis of sound financial analysis on the part of the investor, with no liabilities arising against the Bank.
The information used in preparing these materials was obtained from or through the Bank or the Bank’s representatives or from public sources. Although prepared in good faith and from
sources believed to be reliable, no reliance may be placed for any purposes whatsoever on the information contained in this presentation or on its accuracy, completeness or fairness. The
information in this presentation is subject to verification, completion and change.
The projections, forecasts and estimates of the Bank contained herein are for illustrative purposes only and are based on management’s current views and assumptions. Such projections,
forecasts and estimates involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated in this
presentation. The Bank expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this presentation to reflect any change in
events, conditions, assumptions or circumstances on which any such statements are based unless so required by applicable law. Investors should note many different risk factors could
adversely affect the outcome and financial effects of the plans and projections described herein. As a result, you are cautioned not to place undue reliance on any forward-looking
statements. The Bank, its advisers and each of their respective members, directors, officers and employees disclaim any liability in case projections and plans given in this document are not
realised.
HİZMETE ÖZEL
Contact us
Investor Relations Department
Address : Saray Mahallesi Dr.Adnan Büyükdeniz Caddesi No:6 34768 Ümraniye/ İSTANBUL
E-mail : yim@albarakaturk.com.tr
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