tskb 1q07 ir presentation[1].ppt · 1q07 brsa results investor presentation. tskb banking sector vs...
TRANSCRIPT
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1Q07 BRSA RESULTS
INVESTOR PRESENTATION
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TSKBTSKB
BANKING SECTOR vs TSKB
APPENDICESAPPENDICES
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TSKB at a Glance...
8.4%
Main SubsidiariesOwnership Structure*
Yatırım Finansman Securities
50.1%41.5%
İş Leasing
TSKB Real Estate Appraisal
* 50% of stocks are quoted at ISE.
Free Float**
pp
TSKB Real Estate Investment Trust
50% of stocks are quoted at ISE. ** 27% foreign participation (54% of the free float stocks)
Credit Rating
Financial Summary (USD mn)
Assets 3,265Credit RatingLoans 1,829
Equity 447B1
Net Income 16BB-
Paid-in Capital 300 mn TRY
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Mission
MISSIONMISSIONCoupling reliable, objective, customeroriented development banking withMISSIONMISSION oriented development banking withdynamic investment banking activities
To promote the growth of private sectorTo encourage and assist local and foreign capital to
participate in Turkish companiesparticipate in Turkish companiesTo contribute to the growth of capital markets in Turkey
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History
Established with the support of
CBT and IBRD to Issued Samurai B d ith T ki hMerged with S i Y tCBT and IBRD to promote the
private sector in Turkey
Bonds with Turkish Treasury guarantee
Sınai Yatırım Bankası (SYB)
1950 1960’s 1980’s 1990’s 2000’s
Corporate bondsissued and
d ittPromoted private
i t t iMarket leader in
investment banking
Start of APEX
underwritten investment in underdeveloped
regions
investment banking activities banking activities
Public offerings from equity portfolio
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Core Business Lines
C t & I t tCorporate & Development
Banking
Investment Banking Treasury Asset Management &
Brokerage
Medium & Long-term Financing to Private Sector ( th 4000
IPOs; SPOs
M&As
Fi i l d
Fixed Income
Treasury Marketing Unit
Asset Management
TSKB Mutual Funds have (more than 4000
companies)
Strong Project Finance capabilities
Longstanding
Financial and Management Consultancy
Corporate Restructuring
g(TMU)
Structured Products
secured stable returns
High levels at the fund performance listingsLongstanding
relations with solid corporate base
Well-diversified sector coverage
g
Rendering intermediary services for the futures and options traded in the
listings
Trade Financetraded in the Turkish Derivatives Exchange (TURKDEX)
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Main Participations
Entity Sector TSKB OwnershipCapital
(mn TRY)Market Price*
(mn TRY)
Yatırım Finansman Securities Financial 88.76% 11.7 Not listedYatırım Finansman Securities Financial 88.76% 11.7 Not listed
TSKB Real Estate Investment Trust Financial 96.00% 10.0 Not listed
İ L i Fi i l 28 56% 100 0 318 0İş Leasing Financial 28.56% 100.0 318.0
TSKB Investment Company Trust Financial 29.75% 18.0 12.2
Yatırım Finansman Investment Company Trust Financial 10.78% 10.0 7.9
İş Venture Capital Investment Trust Financial 16.67% 22.5 77.4
İş Factoring Financial 14.75% 16.0 Not listed
TSKB Real Estate Appraisal Real Estate 80.00% 0.3 Not listed
*, as of June 21, 2007
Total book value of EIB Venture Capital Participations as of 2006 are 10 USD mn
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Medium&Long Term Funds by Multilateral Agencies
European Investment Bank (EIB) p ( )
World Bank (IBRD)
Japan Bank for International Cooperation (JBIC)
Kreditanstalt für Wiederaufbau (KfW)
Council of Europe Development Bank (CEB)
International Finance Corporation (IFC)International Finance Corporation (IFC)
Agence Française de Développement (AFD)
Instituto de Credito Oficial of the Kingdom of Spain
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Funding Base (mn)A tA t TT M t itM t itAmountAmount TenorTenor MaturityMaturity
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Funding Base (mn)A tA t TT M t itM t itAmountAmount TenorTenor MaturityMaturity
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Funding Base
9.0% EIB
Currency Risk Structure (USD mn)
(mn USD) USD EUR JPY Total
Total Assets 1 121 1 099 61 2 281
By Sources
35.5%5.6%
1.8%
9.0% EIB
CEB
AFD
Total Assets 1,121 1,099 61 2,281
Total Liabilities 1,082 1,103 71 2,256
Net On-Balance Sheet Position
39 -4 -10 25
JBIC
IBRD
KFW
Net Off-Balance Sheet Position
-60 3 25 -31
Net -21 -1 15 -6
7.7%4.7%8.6%
27.1%KFW
IFC
Syndication
70% of Total Assets and 69% of Total Liabilities are
Largest share in TSKB’s funding
Total Liabilities are F/C denominated
No currency No maturity g
base belongs to EIB, followed by
IBRD
No interest rate mismatches
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Sustainable Growth Over the YearsTotal Assets (USD mn) Funds Borrowed (USD mn)
2,8813,265
2 010
2,4222,769
78% of the2,466 2,378 2,010 1,86678% of the Long Term Funds
borrowed are guaranteed
2005 1Q06 2006 1Q07 2005 1Q06 2006 1Q07
by the Turkish Treasury.
Total Loans (USD mn) Shareholders’ Equity (USD mn)
1,757
1,460
1,829
1 500
2,000
80% 408 427 418447Loans/Assets
is 56%,1,4601,329
61% 61%
53% 56%500
1,000
1,500
50%
60%
70%is 56%,
one of the highest ratio in the sector.
0
500
2005 1Q06 2006 1Q0730%
40%
Loans Loans / T Assets 2005 1Q06 2006 1Q07
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Loans Loans / T. Assets
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Balance Sheet Composition
Assets Liabilities and Equity
18%14%
2%
15%17%
3% 4% 2%6%6%10% 11%
53%61%
61% 56%
80%85%
78%84%
37%28% 33%
38%
2005 1Q06 2006 1Q07
Borrowings Equity Others
2005 1Q06 2006 1Q07
Liquid Assets Loans Others
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Loan Book
11%4%
6%
FINANCE
ENERGY PRODUCTION
ENERGY DISTRIBUTIONNPL’s are
NPL Ratio vs. Coverage Ratio100%
5%
6%
100%
120%
Well Diversified Loan Portfolio
29%6%
5%
5%
TOURISM
OTHER MINING
OTHER PRODUCTION
TRANS. & COMMU.
TEXTILE
METALS
low and fully
provisioned2.4% 2.2%1.3% 1.3%2%
3%
4%
40%
60%
80%
7%2%
3%
3%
3%4%
4%
4%
4%
VEHICLE PRODUCTION
FOOD
CHEMISTRY
OTHER
PLASTICS
SOCIAL SERVICES
CONSTRUCTION
-1%
1%
2005 1Q06 2006 1Q07 0%
20%
NPLs Coverage RatioCONSTRUCTION
NPLs (USD mn) FX Composition of the Loan Book(USD mn)
728
61USD
EUR
JPY
33 32
24 23.7
NPL amount
declined by 26% yoy
974
2005 1Q06 2006 1Q07
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Securities Portfolio
Securities Portfolio (USD mn) Average Maturity (Years)
1 727
TRYFC
6.59
2.65
1.72
006
1Q07
405 767599 77%71%
55%
2.55
4.25
1.43
1Q06
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TL SecuritiesFX Securities
263 232242
1Q06 2006 1Q07
FX FX
Breakdown of Securities Portfolio
T t l S itiFloating10%
Zero Coupon Bonds49%FX Fixed
TL Floating
24%
Floating15%
Zero Coupon Bonds47%
FX Fixed14%
TL Floating
24%
Total Securities Portfolio is
classified as ‘Available for
S l ’49%17%47%14% Sale’
2006 1Q07
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Sufficient CapitalisationCapital Base (USD mn) Capital Adequacy Ratio
Tier I Capital
Tier II Capital
Deductions 33%37%
32%Deductions344
391412
27%33%32%
-135-1
14056
-1
62
2005 1Q06 2006 1Q07
Risk Weighted Assets1Q06 2005 1Q07
Free Capital
Market Risk Credit Risk
9.2%11.1%10.4% 9.8%
80% 82% 97% 83%
Market Risk Credit Risk
2005 1Q06 2006 1Q07
17%3%20% 18%
2005 1Q06 2006 1Q07
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Income Statement
Income CompositionNet Profit (USD mn)
9% 7%
11%11%
20.215.7
82%
9%
80%
7%
1Q06 1Q07 1Q06 1Q07Adj NII Other Income Net Commissions
Interest Income (USD mn) Breakdown of Interest Income
Adj. NII Other Income Net Commissions
67Sh f IEA i
53 41% 46%Loans
Li id
Share of IEA in TA is 88%
1Q07 1Q07
59% 54%
1Q06 1Q07
LiquidAssets
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1Q06 1Q07
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Financial SummaryIncome Statement Loan Spread
(000 USD) 1Q06 1Q07 Change2.4 2.3 2.3Adj. Net Interest Income 29,005 23,576 -19%
Net Commissions 3,891 3,162 -19%
Released Provisions 1,914 915 -52%
1Q06 2006 1Q07
Net Interest Margin
Other Operating Income 1,487 1,046 -30%
Net Banking Income 36,297 28,700 -21%
Personnel Expenses 4,248 4,455 5%
Adm. Expenses 842 938 11% Net Interest Margin
5.3
d pe ses 8 938 %
Other Op. Expenses 1,474 1,728 17%
Operating Profit 29,734 21,578 -27%
Provision Charges 987 - 2,351 - 138%
4.13.3
Tax Provision 8,633 - 3,511 - -59%
Net Profit 20,113 15,716 -22%
1Q06 2006 1Q07
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Financial Highlights
(USD mn) 1Q06 2006 1Q071Q06 2006 1Q07
Ratios Financials
(USD mn) 1Q06 2006 1Q07
Assets 2,378 2,881 3,265
1Q06 2006 1Q07
CAR 32.2% 32.9 % 27.4 %
Liquid Assets
668 946 1,241
Loans 1,460 1,757 1,829
Free Capital 11.1% 9.8 % 9.2 %
Cost to income
24.0% 25.7 % 24.8%
Partic. 136 106 113
F d 1 866 2 423 2 769
income
NIM 5.3% 4.1% 3.3%
ROAE 19 3% 18 7 % 14 4 % Funds borrowed
1,866 2,423 2,769
Equity 427 417 447
ROAE 19.3% 18.7 % 14.4 %
ROAA 3.3% 2.9 % 2.0 %
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BANKING SECTOR vs TSKB
TSKB
APPENDICES
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Banking Sector vs TSKB as of 2006
NPL IEA / T.ASSETSLOANS / ASSETS
3.8%
1.3%
92% 90%45%
58%
Sector TSKB Sector TSKBSector TSKB
TOTAL EXPENSES / AVG. ASSETS
ROAEROAA
3.4%
1.1%
18.9% 18.1%2.3% 2.7%
Sector TSKB Sector TSKBSector TSKB
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TSKB
BANKING SECTOR vs TSKB
APPENDICES
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Ratings
TSKB’s Fitch Ratings (November 2006) TSKB’s Moody’s Ratings (April 2007)
F i d L l C Fi i l St ht R ti D+
Long Term Foreign Currency BB-
Foreign and Local CurrencyOutlook (FSR) Stable Long Term Foreign Currency B1
Financial Strenght Rating D+
Long Term Local Currency BBShort Term BOutlook StableNational A+
Local Currency Deposit Baa1/P2Long Term Local Currency BB
Foreign Currency Deposit B1/NP
Turkey: Sovereign Rates
S&P Jun 28, 2006 BB- Stable
Outlook StableIndividual C/DS t 3
National A+
Moody’s Dec 14, 2006 Ba3 StableTSKB’s Main Shareholders’ Fitch Ratings
LTFC O tl k S t I di id l
Support 3
Fitch May 10, 2007 BB- Stable
İş Bank BB Positive 4 CVakıfbank BB- Positive 4 C/D
LTFC Outlook Support Individual
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Vakıfbank BB Positive 4 C/D
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Participations as of 2006
Entity Sector Ownership Capital (TRY)
Yatırım Finansman Menkul Değerler A.Ş. (Yatırım Finansman Securities) Financial 88.78% 11,675,000
TSKB Gayrimenkul Yatırım Ortaklığı A.Ş. (TSKB Real Estate Investment Trust) Financial 96.00% 10,000,000
Entity Sector Ownership Capital (TRY)y p p ( )
İş Finansal Kiralama A.Ş. (İş Leasing) Financial 28.56% 100,000,000
TSKB Yatırım Ortaklığı A.Ş. (TSKB Investment Company) Financial 29.75% 18,000,000
Yatırım Finansman Yatırım Ortaklığı (Yatırım Finansman Investment Company Trus Financial 10.78% 10,000,000
Entity Sector Ownership Capital (TRY)Entity Sector Ownership Capital (TRY)
İş Girişim Sermayesi Yatırım Ortaklığı (İş Venture Capital Investment Trust) Financial 16.67% 22,500,000
IMKB Takas Saklama A.Ş. (ISE Clearing House) Financial 5.00% 60,000,000
Vadeli İşlem ve Opsiyon Borsası A.Ş. (Derivatives Clearing House) Financial 1.00% 9,000,000
Gelişen İşletmeler Piyasaları A Ş (Emerging Enterprises Market) 1 00% 10 000 000Gelişen İşletmeler Piyasaları A.Ş. (Emerging Enterprises Market) 1.00% 10,000,000
İş Factoring Finansman Hizmetleri A.Ş. (İş Factoring) Financial 14.75% 16,000,000
Cam Elyaf Sanayi A.Ş. Glass 1.18% 36,121,000
Terme Metal Sanayi ve Tic. A.Ş. Metal 17.83% 1,757,500
TSKB G i k l D ğ l A Ş (TSKB R l E t t A i l) R l E t t 80 00% 300 000TSKB Gayrimenkul Değerleme A.Ş. (TSKB Real Estate Appraisal) Real Estate 80.00% 300,000
İş Portföy Yönetimi A.Ş. (İş Asset Management) Financial 5.00% 10,000,000
Gözlük Sanayi A.Ş. Glass 21.71% 531,196
Servus Bilgisayar A.Ş.* 7.14% 10,450,000
ÜÜnsa Ambalaj San. Ve Tic. Ltd. Şti.* 12.00% 21,927,400
Senapa-Stampa Plastik Ambalaj San. A.Ş.* 10.41% 7,250,000
*These subsidiaries are TSKB's participations via the EIB Venture Capital Fund Scheme
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Awards
““BestBest RealReal EstateEstate AdvisorAdvisor”” ininTurkeyTurkey –– 20052005““BestBest M&AM&A HouseHouse”” inin TurkeyTurkey bybyEuromoneyEuromoney –– 20052005““BestBest LocalLocal PartnerPartner”” bybyEuromoneyEuromoney AwardsAwards forforExcellenceExcellence –– 20042004““BestBest SecuritiesSecurities FirmFirm”” bybyEuromoneyEuromoney –– 19971997,, 19981998 andand 19991999““BestBest CreditCredit RatingRating amongamong BanksBanksinin EmergingEmerging MarketsMarkets”” 19981998 andandinin EmergingEmerging MarketsMarkets”” –– 19981998 andand19991999 byby ThomsonThomson BankwatchBankwatch““BestBest EquityEquity ResearchResearch”” –– 19971997 bybythethe EmergingEmerging MarketsMarkets InvestorInvestorthethe EmergingEmerging MarketsMarkets InvestorInvestorMagazineMagazine
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Certificate
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Organization Chart 2007INFORM ATION
HUMAN RESOURCES
OLCAY TATLIOĞLU Department Head
APPLICAT ION DEVELOPMENT
GÖKHAN ÇANAKPINAR
Department Head
SYSTEM & NETW ORK SUPPORT
ERKAN M İSKET
Manager
ECONOM IC ANALYSIS
FINANCIAL ANALYSIS
TECHNICAL ANALYSIS
TECHNICAL SERVICES
EXECUTIVE VICE
INFORM ATION TECHNOLOGY & HUM AN
RESOURCES
EXECUTIVE VICE PRESIDENT
ŞEMSEDD İN ARAT
SYSTEM DEVELOPMENT
YETK İN KESLER Department Head
REF İK AKINCI Department Head EL İF AYDOĞAN Senior Manager REF İK AKINCI Department Head
EXECUTIVE VICE PRESIDENT
ORHAN BEŞKÖK
INVESTM ENT BANKING & INTERNATIONAL
RELATIONS EXECUTIVE VICE
PRESIDENT ŞEN İZ YARCAN
FINANCIAL INSTITUTIONS
ESTEL GÜRDOĞAN Department Head
CORPORATE FINANCE
HAKAN AYGEN Department Head
RESEARCH GÜNDÜZ
FINDIKÇIOĞLU Department Head
CAPITAL M ARKETS HAYRETT İN ERYILMAZ
Department Head
BOARD OF DIRECTORS
CAH İT KOCAÖM ER
PRESIDENT
İ Ğ
CORPORATE BANKING II
Department Head
CORPORATE BANKING I
FUNDA GÜREL Department Head
CORPORATE BANKING
EXECUTIVE VICE
PRESIDENT BURAK AKGÜÇ
ŞEN İZ YARCAN
ANKARA BRANCH
İZM İR BRANCH
p
ASSET MANAGEMENT
CAH İT KOCAÖM ER CHAIRM AN HAL İL EROĞLU(CEO, M EM BER of THE BOARD)
Department Head
FINANCIAL CONTROL
MUSTAFA GÖKTAŞ Senior Manager
pBURAK AKGÜÇ
AUDIT COMMITTEE MAHMUT MAGEM İZOĞLU
MURAT B İLG İÇ (Mem bers of the Board)
FINANCIAL CONTROL & HEAD OFFICE OPERATIONS
EXECUTIVE VICE PRESIDENT
ÖMER ERYILMAZ
HEAD OFFICE OPERATIONS
ÖZNUR GÖKHAN Department Head
İZM İR BRANCH
INVESTOR RELATIONS UNIT
AYŞE NAZLICA Senior Manager
LEGAL ADVISER
TREASURY
OKAN BÖKE Department Head
TREASURY OPERATIONS
NEŞE DUYGULU Department Head
BOARD OF INTERNAL AUDITORS ECE BÖRÜ
Head of Board of Internal Auditors
INTERNAL CONTROL UNIT
TREASURY & TREASURY OPERATIONS
EXECUTIVE VICE
PRESIDENT Ç İĞDEM İÇEL
GENERAL SECRETARIAT
LEGAL AFFAIRS
AKIN SÜEL
PENSION & ASSISTANCE FUNDS
ESER ÇEL İK ÜN
BAHRAIN BRANCH
ARDA AÇIKSÖZ Branch Manager
Prof. Dr. SAFA RE İSOĞLU
LOANS
UFUK BALA YÜCEL Director
MELTEM AYHAN Senior Manager
RISK M ANAGEM ENT UNIT
MEHMET SUINGUN Senior Manager
AKIN SÜEL Secretary General
AKIN SÜELActing Departm ent
Head
ESER ÇEL İK ÜNSenior Manager
LOAN ALLOCATION & MONITORING
FERHUNDE AYGEN
Senior Manager
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Contacts
Meclisi Mebusan Caddesi No 161, 34427 FındıklıIstanbul/TURKEY
INVESTOR RELATIONSTel: +90 212 334 5276 Fax: +90 212 243 2975E-mail: [email protected]
www.tskb.com
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Disclaimer
The information in this document has been obtained by Türkiye Sınai Kalkınma Bankası A.S. (“TSKB”) fromsources believed to be reliable, however, TSKB cannot guarantee the accuracy, completeness, or correctness ofsuch information. This document has been issued for information purposes only. The financial reports andstatements announced by TSKB to the public and the relevant corporations are accepted to be the solestatements announced by TSKB to the public and the relevant corporations are accepted to be the solematerial. TSKB does not accept any liability whatsoever for any direct or consequential loss arising from anyuse of this document or its contents due to the misleading information in this document. All estimationscontained in this document are the opinions of TSKB and can be subject to change without notice. Thisdocument can not be interpreted as an advice, offer to sell, or an invitation to subscribe for or purchase, any ofthe shares in any jurisdiction to any person or to the investors and TSKB can not be held responsible for thethe shares in any jurisdiction to any person or to the investors and TSKB can not be held responsible for theresults of investment decisions made on account of this document. This document has been issued specially tothe person, whom the document is concerned and may not be reproduced, distributed or shared with thirdparties for any purpose. The distribution of this document in certain jurisdictions may be restricted by law.Persons into whose possession this document comes are required by TSKB and the managers to informthemselves about and to observe any such restrictions. No persons has been authorized to give anyinformation or to make any representation. In making an investment decision, investors must rely on their ownexamination of TSKB, including the merits and risks involved. This document is personal to whom it isdelivered by the managers.
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