banco abc - 4th quarter 2008 results presentation
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1
4Q08 Earnings Presentation
February 18, 2009
Participants:
Tito Enrique da Silva Neto - CEO
Anis Chacur Neto – Deputy CEO
Sergio Lulia Jacob - Executive VP & IR Officer
Alexandre Yoshiaki Sinzato – IR Manager
2
4Q08 Highlights
The Recurring Net Income in 2008 totaled BRL 160.7 million, growing 36.0% in relation to the year of2007, when the net income reached BRL 118.2 million (excluding IPO expenses). In the 4Q08, the recurringnet income was BRL 30.9 million a decrease of 36.2% in relation to BRL 48.4 million of the 3Q08. Consideringthe additional provisions for loan losses in 4Q08, the net income totaled BRL 150.1 million and BRL 20.3million in 4Q08. The preventive increase of provisions for loan losses was caused by the new economicenvironment. Since 2008, Interest on Equity began to be paid on a quarterly basis, with the payment toshareholders in the 4Q08 of gross IOE of BRL 17.5 million.
The Efficiency Ratio in the 4Q08 was 34.8% against 35.8% in 3Q08. Banco ABC Brasil has one of the bestefficiency ratios presented by the bank market.
The Credit Portfolio, including guarantees issued, reached BRL 6,485.5 million, growing 29.9% in relationto 4Q07 and decreasing 5.7% in relation to 3Q08.
Even with the provisions mentioned the portfolio quality remained high, with 97.6% of credit operationsrated from AA to C (Central Bank Resolution 2,682), compared to 99.4% in 3Q08 and 99.6% in 4Q07.
3
Ownership Structure
Ownership Structure Common Shares Preferred Shares Total %
Marsau Uruguay Holdings S.A. (ABC) 58,046,264 17,859,279 75,905,543 56.4%
Management 9,775,856 3,007,771 12,783,627 9.5%
Associates - 1,855,070 1,855,070 1.4%
Free Float - 43,943,800 43,943,800 32.7%
Total 67,822,120 66,665,920 134,488,040 100.0%
4
Credit Portfolio
LOANSCREDIT PORFOLIO - including guarantees issued
CONSUMER MIDDLE MARKET WHOLESALE + L. MIDDLE
4Q07 3Q08 4Q08
CAGR = 21.1%
4,992.2
6,879.1 6,485.5
CAGR = 29.9%
3.2%
82.6%
14.2%3.2%
86.3%
11.8%1.9%
84.3%
12.5%
4Q07 3Q08 4Q08
3,887.2
5,329.24,708.1
81.1%
16.6%
2.3%
78.2%
17.7%4.1%
82.7%
14.8%2.5%
R$ mi
5
Credit Portfolio Quality
*excluding guarantees issued
*excluding guarantees issued
D-H 2.4%
AA-C 97.6%
Dec. 2008Rating (R$ mi) * 4Q08 % Portfolio 3Q08 % Portfolio
AA 811.5 17.2 916.3 17.2
A 1,845.9 39.2 2,393.7 44.9
B 1,284.6 27.3 1,729.4 32.5
C 654.4 13.9 255.3 4.8
D 36.1 0.8 8.7 0.2
E 43.0 0.9 3.4 0.1
F 2.7 0.1 10.8 0.2
G 6.2 0.1 2.1 0.0
H 23.7 0.5 9.6 0.2
Total 4,708.1 100.0 5,329.3 100.0
SegmentsCredit Portfolio
(R$ mi)*
Write Off
(R$ mi)
Write Off /
Credit PortfolioPLL (R$ mi)
PLL / Credit
Portfolio
Past Due >
91days (R$ mi)
Past Due >
91days / Credit
Portfolio
Wholesale+L.Middle 3,816.9 - 0.0% 68.7 1.8% 14.6 0.4%
Middle 780.9 1.0 0.1% 31.5 4.0% 14.4 1.8%
Payroll 110.3 1.0 0.9% 5.0 4.5% 1.3 1.2%
Total - 4Q08 4,708.1 2.0 0.0% 105.2 2.2% 30.3 0.6%
Total - 3Q08 5,329.3 2.8 0.1% 56.1 1.1% 18.3 0.3%
6
Credit Portfolio
WHOLESALE AND LARGE MIDDLE
*excluding BNDES operations
Wholesale + L. Middle 4Q07 3Q08 4Q08
Ticket 9.2 10.1 10.6
Duration * 352 317 306
Clients 466 529 514
CAGR = 26.8%
5,462.85,678.4
4,308.7
3,216.2
4,165.8
1,092.5
1,512.6
3,816.9
1,645.9
4Q07 3Q08 4Q08
Loans Guarantees issued
South11.0%
Rio de Janeiro10.8%
São Paulo -Countryside
26.6%São Paulo
48.9%
Minas Gerais + Northeast
2.7%
R$ mi
7
Credit Portfolio
MIDDLE MARKET
* excluding BNDES operations
Loans Guarantees issued
Middle Market 4Q07 3Q08 4Q08
Ticket 1.9 2.4 2.0
Duration * 181 193 202
Clients 311 409 398
CAGR = 38.3%
587.2
979.9812.4
574.7
780.912.5 942.7
37.231.4
4Q07 3Q08 4Q08
São Paulo69.3%
São Paulo -Countryside
10.1%
Rio de Janeiro3.0%
South10.2%
Minas Gerais7.3%
R$ mi
8
Other Activities
TREASURY AND CAPITAL MARKET
Capital Market (R$ mi) 4Q08 3Q08 Chg.(%) 4Q07 Chg.(%)
Underwriting Fees and Structured Oper. 0.8 2.3 (65.2) 4.6 (82.6)
Number of trades 3 5 (40.0) 7 (57.1)
Treasury (R$ mi) 4Q08 3Q08 Chg.(%) 4Q07 Chg.(%)
Income 2.8 4.5 (37.8) 11,2 (75.0)
Average consolidated VaR 6.3 4.3 46.5 2.7 133.3
9
Funding
R$ mi
Corporate
Institutional
BNDES
International
Local
Retail
Interbank
3,841.3
5,459.35,690.9
Dec 2007 Sep 2008 Dec 2008
0.5%
2.5%2.4%
44.0%
11.3%
19.7%
22.1%
40.6%
7.4%
9.2%
18.0%
22.3%
47.5%
5.8%
9.6%
12.2%
8.4%
16.5%
• The parent company increased the credit line available to ABC Brasil from USD 150 million to USD 300 million
• In December 2008 ABC Brasil had withdrawn USD 143 million of this line
10
Quarter Year
Net Interest Income before PLL 79.4 81.4 351.8 258.3 (2.5) 36.2
(+)Effect of Exchange Variation - Cayman Branch - A 21.7 16.6 29.9 (11.3) 30.7 (364.6)
(+)Tax Effect of Exchange Variation - Cayman Branch + Sovereign Bonds - B 13.8 6.6 20.4 - 109.1 NA
(-)Payroll Credit Assignment - C (comissions) (11.9) - (11.9) - NA NA
Managerial Net Interest Income before PLL 103.0 104.6 390.2 247.0 (1.5) 58.0
Credit Operations 95.5 100.1 354.9 212.6 (4.6) 66.9
Payroll Credit Assignment 4.7 - 4.7 - NA NA
Treasury 2.8 4.5 30.6 34.4 (37.8) (11.0)
PLL (54.1) (11.3) (79.8) (13.7) 378.8 482.5
PLL before ratings review (12.6) - (38.3) - NA NA
Ratings review (23.9) - (23.9) - NA NA
Additional (17.6) - (17.6) - NA NA
Managerial Net Interest Income after PLL 48.9 93.3 310.4 233.3 (47.6) 33.0
Banking Fees 11.2 12.1 43.1 42.4 (7.4) 1.7
Personnel Expenses/Other Administrative/Tax* (35.9) (30.6) (118.4) (98.0) 17.3 20.8
Personnel Expenses/Other Administrative/Tax* - total (47.8) (30.6) (130.3) (98.0) 58.3 33.4
(+)Payroll Credit Assignment - C 11.9 - 11.9 - NA NA
Other operating income/expenses 1.4 1.7 4.2 (1.7) (17.6) (347.1)
Other operating income/expenses - total 23.1 18.3 34.1 (13.0) 26.2 (362.3)
(+)Effect of Exchange Variation - Cayman Branch - A (21.7) (16.6) (29.9) 11.3 30.7 (364.6)
Non-Operating Income - 1.2 1.2 (0.8) (100.0) (250.0)
Income before Tax and Profit Sharing 25.6 77.7 240.5 175.2 (67.1) 37.3
Income Tax and Social Contribution 13.3 (8.7) (24.5) (34.3) (252.9) (28.6)
(+)Tax Effect of Exchange Variation - Cayman Branch + Sovereign Bonds - B (13.8) (6.6) (20.4) - 109.1 NA
Profit Sharing (4.8) (14.0) (45.5) (22.7) (65.7) 100.4
Effect of the additional PLL 10.6 - 10.6 - NA NA
Recurring Net Income* 30.9 48.4 160.7 118.2 (36.2) 36.0
Net Income 20.3 48.4 150.1 97.5 (58.1) 53.9
Chg.(%)Managerial Income Statement (R$ mi) 4Q08 3Q08 2008 2007
Managerial Income Statement
*Excluding the expenses with IPO of BRL 20.7 million in 2007 and the effect of the additionalprovisions for loan losses net of taxes in the 4Q08 of BRL 10.6 million.
11
Net Interest Income
Banking Services Fees
NII (R$ mi) 4Q08 3Q08 Chg.(%) 2008 2007 Chg.(%)
Credit Operations 95.5 100.1 (4.6) 354.9 212.6 66.9
Payroll Credit Assignment 4.7 - NA 4.7 - NA
Treasury 2.8 4.5 (37.8) 30.6 34.4 (11.0)
Managerial Net Interest Income before PLL 103.0 104.6 (1.5) 390.2 247.0 58.0
PLL (54.1) (11.3) 378.8 (79.8) (13.7) 482.5
PLL before ratings review (12.6) - NA (38.3) - NA
Ratings review (23.9) - NA (23.9) - NA
Additional (17.6) - NA (17.6) - NA
Managerial Net Interest Income after PLL 48.9 93.3 (47.6) 310.4 233.3 33.0
Banking Fees (R$ mi) 4Q08 3Q08 Chg.(%) 2008 2007 Chg.(%)
Guarantees issued 6.6 5.7 15.8 22.0 13.3 65.4
Underwriting Fees and Structured Operations 0.8 2.3 (65.2) 4.4 17.8 (75.3)
Banking Fees 3.8 4.1 (7.3) 16.8 11.3 48.7
Banking Fees - Total 11.2 12.1 (7.4) 43.1 42.4 1.7
12
Personnel, Administrative and Profit-Sharing Expenses
Expenses (R$ mi)* 4Q08 3Q08 Chg.(%) 2008 2007 Chg.(%)
Personnel expenses (20.7) (17.5) 18.3 (68.5) (47.0) 45.7
Other administrative expenses*
Profit Sharing (4.8) (14.0) (65.6) (45.1) (22.7) 98.9
Taxes (0.7) (0.8) (12.5) (3.0) (4.2) (28.6)
Total (37.8) (41.7) (9.3) (153.5) (117.5) 30.7
Associates 4Q08 3Q08 Chg.(%) 2008 2007 Chg.(%)
Front-Office
Back-Office
Total
171 195 (12.3) 171 140 22.1
310 319 (2.8) 310 266 16.5
514 (6.4) 481 406 18.5 481
*excluding payroll commissions and expenses with IPO in 2007
(11.6) (9.4) 23.4 (36.9) (43.6) (15.4)
13
Profitability
RECURRING NET INCOME* – R$ MILLION
RECURRING ROAE* – p.a.
118.2
160.7
48.430.9
2007 20083Q08 4Q08
16.1%
14.2%
16.9%
10.6%
2007 20083Q08 4Q08*Excluding the expenses with IPO of BRL 20.7 million in 2007 and the effect of the additionalprovisions for loan losses net of taxes in the 4Q08 of BRL 10.6 million.
14
19,2%
Ratios
NIM
40.5%36.0%35.8% 34.8%
2007 20083Q08 4Q08
1,085.61,161.9
2007 2008
18.0%
23.1%6.4% 5.9% 6.4% 6.3%
2007 20083Q08 4Q08
EFFICIENCY RATIO (%) – including profit sharing
STOCKHOLDERS’ EQUITY (R$ mi) AND BASEL INDEX (%)
15
Guidance 2008 X Realized
Estimated Realized
Credit Portfolio*
Wholesale + L. Middle
Middle Market
Payroll Deductible
Personnel and Administrative expenses**
*including guarantees issued**excluding profit sharing and payroll deductible comissions
47% - 57%
40% - 60%
60% - 80%
220% - 250%
12% - 18%
27%
38%
Discontinued
30%
15%
Realized until 3Q08annualized
42%
89%
50%
16
Guidance 2009
% Growth
Credit Portfolio*
Wholesale + L. Middle
Middle Market
Personnel and Administrative expenses**
*including guarantees issued**excluding profit sharing and payroll deductible comissions
2% - 12%
0% - 10%
30% - 40%
8% - 12%
17
Contacts
Investor Relations
Sergio Lulia Jacob – Executive VP & IR Officer
Alexandre Sinzato – IR Manager
Eduardo Randich – IR Analyst
Henrique Mendonça – IR Analyst
Web Site: www.abcbrasil.com.br/ir
Email: ri@abcbrasil.com.br
Tel.: +55 (11) 3170 2186
18
Disclaimer
The following material, on this date, is a presentation containing general information about the BancoABC Brasil S.A. We offer no guarantee and make no declaration, implicitly or explicitly, as to the accuracy,completeness or scope of this information.
This presentation may include forward-looking statements of future events or results according to theregulations of the Brazilian and International securities and exchange commissions. These statements arebased on certain assumptions and analyses by the Company that reflect its experience, the economicenvironment, future market conditions and expected events by the company, many of which are beyondthe control of the Company. Important factors that may lead to significant differences between the actualresults and the statements of expectations about future events or results include the company’s businessstrategy, Brazilian and International economic conditions, technology, financial strategy, financial marketconditions, uncertainty regarding the results of its future operations, plans, objectives, expectations andintentions, among others. Considering these factors, the actual results of the company may besignificantly different from those shown or implicit in the statement of expectations about future eventsor results.
The information and opinions contained in this presentation should not be understood as arecommendation to potential investors and no investment decision is to be based on the veracity, currentevents or completeness of this information or these opinions. No advisors to the company or partiesrelated to them or their representatives should have any responsibility for any losses that may result fromthe use or contents of this presentation.
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