july 2014 2q 2014 results update - bank btpn · 2q npat: rp 502 bio (1.9% qoq) 1h 2014 results 1 ....
TRANSCRIPT
July 2014
2Q 2014 Results Update
Despite Challenging Macro Condition, Healthy Business Growth:
Loans growth: 14.6% (YoY); 8.5% (YTD) vs 4% Industry (YTD Jun 2014)
Deposits growth: 10.4% (YoY); 1.0% (YTD) vs 0.8% Industry (YTD Apr 2014)
Continue to Maintain Ample Liquidity:
LFR: 85%; LFR (incl. Equity): 72%
LDR: 95%
Liquid Asset Ratio: 35%
Robust Key Ratios:
NIM: 11.7% (1Q: 11.7% vs 2Q: 11.8%)
NPL: 0.87% (1Q: 0.74% vs 2Q: 0.87%)
ROE: 19.0%
CAR: 23.4%
Strong Fee Income Growth:
Fee Income: Rp 327 bio (97.9% YoY)
Net Income:
1H NPAT: Rp 996 bio (-9.6% YoY)
2Q NPAT: Rp 502 bio (1.9% QoQ)
1H 2014 Results
1
Balance Sheet Highlights (Consolidated)
Note: Other loans include joint financing, money market loan, employee loan and ex-Bank Sahabat loan
2
IDR billion
Cash & BI 5,329 5,414 5,513 5,820 9%
SBI & Placement 12,281 15,352 11,722 12,410 1%
Loans (gross) 43,629 46,105 47,037 50,013 15%
- Pension 29,944 31,614 31,738 33,157 11%
- Micro 9,978 10,427 10,641 11,204 12%
- Productive Poor (Syariah) 901 1,354 1,620 2,054 128%
- Others 2,806 2,710 3,038 3,598 28%
Allowance for losses (415) (486) (494) (542) 31%
Customer Deposits 47,748 52,196 49,263 52,696 10%
Borrowings 6,165 6,361 6,441 6,275 2%
Total Funding 53,913 58,557 55,704 58,971 9%
Equity 8,849 9,908 10,418 10,934 24%
Total Assets 63,882 69,665 67,349 71,411 12%
∆YoYJun '13 Dec '13 Mar '14 Jun '14
IDR billion
Interest income 5,249 10,943 2,993 3,100 6,093 16%
Interest expense 1,807 3,895 1,259 1,300 2,560 42%
Net interest income 3,442 7,048 1,734 1,799 3,533 3%
Fee income 165 400 142 186 327 98%
Operating income 3,607 7,449 1,875 1,985 3,860 7%
Operating expense 1,870 3,980 1,033 1,098 2,131 14%
- BAU 1,667 3,449 824 873 1,697 2%
- TUR (Productive Poor) 189 488 194 209 404 114%
- MSOP 14 43 15 15 30 113%
Net operating income 1,738 3,469 842 888 1,730 0%
Loan loss provision 257 591 171 202 373 45%
NPBT 1,479 2,869 668 681 1,349 -9%
NPAT 1,102 2,131 493 502 996 -10%
2Q '141H '13 1H '141Q '14 ∆YoYFY '13
Profit & Loss Highlights (Consolidated)
3
*
* NPAT 1H 2014 excluding MSOP would have been Rp 1,015 bio (-8% yoy growth)
Key Ratios
4
%
NIM 12.8 12.7 11.7 11.8 11.7
Cost to Income 52 53 55 55 55
LDR (end of period) 91 88 95 95 95
Loan to Funding 81 79 84 85 85
Loan to Funding (incl. Equity) 70 67 71 72 72
Liquid Asset Ratio 37 40 35 35 35
NPL 0.6 0.7 0.7 0.9 0.9
Cost of Credit/Avg. Loan 1.2 1.4 1.5 1.7 1.6
LLP/NPL 147 158 141 125 125
ROA (before tax) 4.8 4.5 3.9 3.9 3.9
ROE (after tax) 26.3 23.8 19.3 18.7 19.0
CAR (credit & ops risk) 22.6 23.1 24.0 23.4 23.4
Equity / Assets 13.9 14.2 15.5 15.3 15.3
1H '14FY '131H '13 2Q '141Q '14
LOANS COMPOSITION
78% 75%
72% 69% 66%
20%
22%
23%
23% 23% 5%
9% 11%
Dec '10 Dec '11 Dec '12 Dec '13 Jun '14
Pension Micro Others*
50.0
NPL & COST OF CREDIT
1.8 1.6 1.3 1.4 1.5 1.7
1.14 0.72 0.58 0.67 0.74 0.87
Dec '10 Dec '11 Dec '12 Dec '13 Mar '14 Jun '14
Cost of Credit / Avg Loans NPL (gross)
IDR tio %
NPL BY BUSINESS
%
0.1
5.1
2.9 2.1 2.5 2.6
3.2
0.7
Dec '10 Dec '11 Dec '12 Dec '13 Mar '14 Jun '14
Pension Micro Prod. Poor (Syariah)
* including syariah financing , joint financing, money market loan, employee loan and ex-Bank
Sahabat loan
Loans Composition & Portfolio Quality
23.3
30.3
38.8
46.1
5
621 901 1,015
1,354 1,620
2,054
Mar '13 Jun '13 Sep '13 Dec '13 Mar '14 Jun '14
IDR bio
Productive Poor
Financing Customers by Cycle
Outlets & Employees Financing
Total Customers
771 866 1,030 1,174 1,224 1,292
5,489 6,068 6,952
8,011 8,275 8,368
Mar '13 Jun '13 Sep '13 Dec '13 Mar '14 Jun '14
Outlets - Operational Outlets - Ready to Roll-out Employees
534 651
755 932
1,102 1,141
Mar '13 Jun '13 Sep '13 Dec '13 Mar '14 Jun '14
Cycle 1 62%
Cycle 2 27%
Cycle 3 10%
Cycle 4 1%
6
88
Thousands
*
* Net of 85K savings account data cleansing (1,227K without data cleansing)
COST OF FUND*
FUNDING COMPOSITION CUSTOMER DEPOSIT COMPOSITION
12 14 14 13 14
28 27 26 27 21
2 2 4 4
Dec '10 Dec '11 Dec '12 Dec '13 Jun '14
Primary Secondary Tertiary*
LIQUID ASSETS RATIO
(Against Total Customer Deposits)
* Revolving Standby Loan IFC
Dec '10 Dec '11 Dec '12 Dec '13 Jun '14
Customer Deposits Bonds & Borrowings
89%
11%
59.0
88% 89%
90% 89%
10%
11%
IDR tio
%
25.5
35.6
45.1
52.2 52.7
Dec '10 Dec '11 Dec '12 Dec '13 Jun '14
TD CASA
IDR tio
88% 83%
85%
15%
14%
86%
%
8.5 7.9 6.9 6.6
8.8 9.4
Dec '10 Dec '11 Dec '12 Jun '13 Dec '13 Jun '14
* Customer deposits only
Funding Composition & Liquidity Reserves
28.9
40.1
50.2
58.6
85%
15%
7
11% 17%
Fee-based Income & NPAT
8
FY '10 FY '11 FY '12 FY '13 1H '14
IDR bio
327
Fee-based Income
400
283
191
135
NPAT (Quarterly)
IDR bio
101 109 112
56 57
83
126
154 164
195 218
260 279
323
388 410
439
482
521 537 536
566 571
459
493 502
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
2008 2009 2010 2011* 2012* 2013
Launched
Micro Banking
Biz (MUR)
Launched
Productive
Poor Biz (TUR)
2014
* corporate tax rate: 20%
Fee income from Insurance:
47% 46% 39% 48% 57%
NIM & Portfolio Quality
NPL & Cost of Credit
%
9
%
NIM vs Inflation & BI Rate
7.8 7.0 6.5 6.5 6.5 6.8 6.0 5.7 5.8 6.0 7.5 7.5
14.2 13.4 13.5 13.4 12.2
11.7
7.9
2.8
7.0
3.8
8.4 6.7
BI Rate NIM Inflation (yoy)
4.3
2009 2010 2011 2012 2013 2Q14
0.0
2.4 1.5 0.9
1.6 1.7
0.8 0.5 1.1 0.7 0.6 0.7 0.9
CoC NPL
2009 2010 2011 2012 2013 2Q14
Corporate Update
BTPN has completed its Syariah Unit (UUS) spin-off and conversion
of Bank Sahabat into BTPN Syariah on July 14, 2014; making BTPN
Syariah one of 12 syariah banks in Indonesia and the only one
which focuses on serving the productive poor segment.
10
Fitch Ratings has upgraded BTPN’s rating by one notch to AA from
AA- in June 2014.
THANK YOU
Participants
1H 2013 1H 2014 Growth
631,308 977,261 55%
76,659 114%
2014 Achievement
35,874
Activities