TEB
30 June 2014
Summary Balance Sheet
TÜRK EKONOMİ BANKASI A.Ş.
Consolidated (in Mn TL)
31.12.13
30.06.14
YtD Chg
Liquid Assets
Marketable Securities
Loans
Other Assets
7,272
5,357
40,736
2,839
10,144
4,353
43,523
2,876
39%
-19%
7%
1%
Total Assets
56,204
60,897
8%
Deposit
Funds Borrowed
Bond Issued
Repo
Subordinated Debt
Other Liabilities
Shareholders Equity
35,533
7,983
710
1,083
1,778
3,548
5,569
38,849
8,526
634
1,220
1,760
4,125
5,782
9%
7%
-11%
13%
-1%
16%
4%
Liab.&Shr.Equity
56,204
60,897
8%
2
Source: TEB BRSA Consolidated Financials
Summary Income Statement
TÜRK EKONOMİ BANKASI A.Ş.
Consolidated (in Mn TL, quarterly)
30.06.2013
31.03.2014
30.06.2014
YoY Chg
Q. Chg
543.1
571.6
639.8
17.8%
11.9%
23.6
-24.3
-133.8
9.4
-2.5
18.1
177.7
201.0
229.6
29.2%
14.2%
44.3
56.1
45.5
2.8%
-18.8%
798.1
801.9
799.2
0.1%
-0.3%
Loan Provision Expense
-139.8
-121.7
-110.4
-21.0%
-9.3%
Net Operating Income
658.3
680.2
688.8
4.6%
1.3%
-439.9
-492.9
-502.4
14.2%
1.9%
1.8
0.0
1.3
Tax Provisions
-50.1
-44.9
-39.2
-21.8%
-12.7%
Net Profit
170.0
142.5
148.5
-12.7%
4.2%
Net Interest Income
Gains/Losses From Derivatives and FX position
Securities Trading Gain/ Loss
Net Fee&Commissions
Other Income
Net Banking Income
Other Operating Expense
Dividend Income
3
Source: TEB BRSA Consolidated Financials
Strong balance sheet growth with continuing
commitment to core banking activities
4
Source: TEB BRSA Consolidated Financials
SME loans make up almost half of total loans
LOB
Corporate
SME
Retail
Private
Cross Sell
5.1X
4.5X
3.2X
4.8X
5
Source: TEB BRSA Bank only Financials
NPL ratio maintained below sector averages
NPL Ratio
5.3%
4.8%
3.8%
3.5%
3.7%
4.6%
3.6%
2.8%
3.0%
2.3%
2.7%
1.8%
2.8%
2.7%
2.1%
2.2%
2.3%
2.5%
2012
2013
14-Q1
14-Q2
75.2%
76.4%
76.7%
75.5%
60.0%
60.8%
63.3%
64.3%
2012
2013
14-Q1
14-Q2
0.9%
1.1%
2005
2.7%
2.8%
2006
2007
2008
2009
2010
TEB
2011
Sector
Coverage Ratio
88.7%
89.7%
86.8%
79.8%
83.6%
65.9%
60.2%
50.0%
2006
79.4%
71.3%
67.5%
2005
83.8%
2007
52.6%
56.0%
2008
2009
TEB
2010
2011
Sector
6
Source: TEB BRSA Bank only Financials
Loan portfolio(*) highly distributed among industries
(*)
incl. non-cash balance
7
Composition of marketable securities
Total Securities Compositions
Interest Rate Compositions
Total Securities
2013 Q4
2014 Q2
0.4%
0.4%
34%
44%
Floating
TL
TL
FC
FC
99.6%
Fixed
66%
56%
99.6%
2013 Q4
2014 Q2
TL Portfolio
2014 Q2
2013 Q4
17%
2.9% 7.4%
27%
18%
12.6%
17%
AFS
Trading
HTM
AFS
Trading
81.8%
CPI Linkers
Floating
65%
56%
Fixed
89.7%
2013 Q4
2014 Q2
PS: The FX portfolio is vey small and it is all fixed rate.
8
Source: TEB BRSA Bank only Financials
L/D ratio in line with the sector
9
Source: TEB BRSA Bank only Financials
Stable COR in comparison to last year
Cost of Risk
(1)
Cost of Risk (SLLP)
1.12%
1.57%
1.23%
1.16%
1.05%
1.12%
1.02%
1.24%
0.98%
0.82%
1.24%
1.08%
0.92%
13-Q2
13-Q3
1.00%
1.14%
1.39%
1.62%
13-Q2
1.12%
1.03%
1.75%
13-Q4
Quarterly
14-Q1
14-Q2
13-Q3
13-Q4
Quarterly
14-Q1
14-Q2
Cumulative
Cumulative
Cost of Risk (GLLP)
0.58%
0.56%
(1)
COR includes specific and general as w ell as other
provision expenses
Cumulative ratio = annualized Provision Exp. (incl.GLLP) /
Average quarter-end Loans.
Quarterly ratio = annualized Provision Exp. (incl. GLLP) /
Average of last 2 quarter-end Loans
0.39%
0.64%
0.41%
0.12%
0.12%
0.11%
0.09%
-0.07%
13-Q2
13-Q3
13-Q4
Quarterly
14-Q1
14-Q2
Cumulative
10
Source: TEB BRSA Bank only Financials
Improvement in margins bringing NIM back to 13Q2 level
Net Interest Margin
Cost / Income Ratio
68.5%
63.7%
61.6%
5.4%
62.8%
55.2%
53.3%
5.0%
59.3%
56.4%
62.2%
13-Q3
13-Q4
14-Q1
4.5%
4.6%
13-Q3
13-Q4
14-Q1
5.2%
14-Q2
14-Q2
Quarterly
Quarterly
5.0%
5.0%
13-Q2
13-Q2
5.4%
5.2%
5.5%
61.6%
(1)
Cumulative
Cumulative
Comfortable CAR supporting growth
(1)
14.8%
14.7%
Annualized NII /
/ Avr of past YtD quarter-end Loan and MS for
cumulative line
/ Avr of last 2 quarter-end Loan and MS for
quarterly line
14.7%
14.2%
14.4%
14.4%
14.3%
14.0%
14.0%
13.8%
13-Q2
13-Q3
13-Q4
Consolidated
14-Q1
14-Q2
Bank-Only
11
Source: TEB BRSA Bank only Financials
TEB’s Network
TEB is present in 72 cities out of 81
2
Tekirdağ
İstanbul
5
13
1
3
Kocaeli
Düzce
Sakary a
Y alov a
2
Bolu
Çanakkale
Bursa
3
24
Balıkesir
Bilecik
Karabük
1
1
Ankara
Uşak
Uş
Denizli
ak
6
Ay dın
Muğla
13
6
2
1
G.Hane
Aksaray
Kony a
Isparta
10
Burdur
2
25
Adana
Karaman
12
Kilis
Hatay
6
4
Cities with branches
Cities without branches
Cities where new branches opened during 2013 & 2014
Muş
Van
Van
4
2
2
Diy arbakır
Siirt
1
Batman
Hakkari
Şırnak
Mardin
G.Antep
Mersin
1
Bitlis
Adıy aman
3
Ağrı
2
1
Osmaniy e
19
Bingöl
Tunceli
Elazığ
Malaty a
K.Maraş
2
1
3
1
Niğde
1
Antaly a
7
Iğdır
Erzurum
Erzincan
2
Kay seri
1
Bay burt
1
Nev şehir
1
Kars
2
Siv as
1
1
1
2
Tokat
Kırşehir
Af y on
Ardahan
Giresun
2
Y ozgat
1
2
8
Ay dın
Kırıkkale
1
Manisa
İzmir
Çorum
Artv in
Rize
Trabzon
Amasy a
2
Kütahy a 2
41
Ordu
Çankırı
1
4
1
3
Samsun
1
5
Eskişehir
1
6
43
1
6
Sinop
2 Bartın Kastamonu
1
Zonguldak
186
Edirne
3
1
1
Kırklareli
10
Ş.Urf a
4
2
As of 30/06/2014
Number of Clients: 5,4 million
Number of Branches: 547
Total Staff: 10,084
ATM: 1,511
POS:117,353
12
APPENDIX
13
Summary Balance Sheet
TÜRK EKONOMİ BANKASI A.Ş.
Bank only (in Mn TL)
31.12.13
30.06.14
YtD Chg
Liquid Assets
Marketable Securities
Loans
Other Assets
7,136
5,205
38,135
2,933
9,997
4,160
41,293
3,001
40%
-20%
8%
2%
Total Assets
53,409
58,452
9%
Deposit
Funds Borrowed
Bond Issued
Repo
Subordinated Debt
Other Liabilities
Shareholders Equity
34,288
6,793
710
1,062
1,778
3,490
5,286
37,725
7,585
634
1,180
1,760
4,067
5,501
10%
12%
-11%
11%
-1%
17%
4%
Liab.&Shr.Equity
53,409
58,452
9%
14
Source: TEB BRSA Bank only Financials
Summary Income Statement
TÜRK EKONOMİ BANKASI A.Ş.
Bank only (in Mn TL, quarterly)
Net Interest Income
Gains/Losses From Derivatives and FX position
Securities Trading Gain/ Loss
Net Fee&Commissions
Other Income
Net Banking Income
Loan Provision Expense
Net Operating Income
30.06.13
31.03.14
30.06.14
YoY Chg
Q. Chg
520.3
546.2
611.6
17.6%
12.0%
23.9
-22.8
-127.4
9.3
-2.4
17.8
163.4
190.4
216.9
32.7%
13.9%
45.4
57.4
47.9
5.5%
-16.6%
762.3
768.9
766.8
0.6%
-0.3%
-135.4
-120.8
-109.9
-18.8%
-9.0%
626.9
648.1
656.9
4.8%
1.4%
-421.0
-473.6
-481.4
14.4%
1.7%
1.7
17.9
1.3
-21.7%
Tax Provisions
-47.9
-42.1
-36.9
-23.0%
-12.4%
Net Profit
159.7
150.4
139.9
-12.4%
-7.0%
Other Operating Expense
Dividend Income
15
Source: TEB BRSA Bank only Financials
Ratings of TEB
FITCH
Rating
Short Term LC
F2
Long Term LC
BBB +
Short Term FC
F3
Long Term FC
BBB
Individual
bbb-
National
AAA (tur)
Support
2
MOODY'S
Banking Financial Strength Rating
Long Term FC Bank Deposits
Outlook
Stable
Stable
Stable
Rating
Outlook (*)
D
Stable
Baa3
Negative
Short Term FC Bank Deposits
P-3
Long Term LC Bank Deposits
Baa3
Short Term LC Bank Deposits
P-3
Stable
16
A Major Player of the Turkish Financial Services Market
BNPP Cardif
Insurance
 A major global player for
personal insurance
 Turkish operations fully owned
by BNP ParibasCardif (S&P AA
rated),100% subsidiary of BNP
Paribas
 %3 market share in Turkey in
protection insurance & pension
TEB N.V.
TEB Kosovo
 Operative since January 2008,
with 25 branches, as of 2Q
2014
 Loans: €287M
 Deposits: € 309M
TEB
 “Turkish specialist” in the EU
market, total asset size is EUR
561 mio as of 2Q 2014
TEB Asset
Management
 7th largest asset management
company with 4.5% market
share as of 2Q 2014
TEB Factoring
 9% market share as of 1Q 2014
TEB Investment
 5th largest brokerage &
investment house of Turkey
with 3.8% market share as of
2Q 2014
Full range of banking
services
TEB Cetelem
 Consumer finance company in
Turkey with 6.6%market share
as of 2Q 2014
BNPP Leasing
 6th largest leasing company in
Turkey with 7.2% market share
as of 4Q 2013
TEB Arval
 Operative since October 2007,
5,3% market share as of 1Q
2014
17
Disclaimer
The information and opinions obtained in this document have been compiled or
arrived at by TEB from sources believed to be reliable, but no representation or
warranty is made as to their accuracy, completeness or correctness. All opinions
and estimates contained in this document constitute TEB’s judgement as of the
date of this document and are subject to change without notice. This document is
published for the assistance of the recipients, but is not to be relied upon as
authoritative or taken in subtitution for the exercise of judgement by any recipient.
TEB does not accept any liability for any direct or consequential loss arising from
any use of this document or its contents. This document is strictly confidential and
may not be reproduced, distributed or published for any purpose.
18
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