TEB 30 Sep 2014 · 13-Q3 13-Q4 14-Q1 14-Q2 14-Q3 Consolidated Bank-Only. TEB’s Network 11 TEB is...

TEB

30 Sep 2014

Summary Balance Sheet

2

Source: TEB BRSA Consolidated Financials

TÜRK EKONOMİ BANKASI A.Ş.

Consolidated (in Mn TL)

31.12.13 30.09.14 YtD Chg

Liquid Assets 7,272 10,306 42%

Marketable Securities 5,357 4,462 -17%

Loans 40,736 46,059 13%

Other Assets 2,839 3,271 15%

Total Assets 56,204 64,099 14%

Deposit 35,533 39,974 12%

Funds Borrowed 7,983 9,531 19%

Bond Issued 710 597 -16%

Repo 1,083 1,652 52%

Subordinated Debt 1,778 1,802 1%

Other Liabilities 3,548 4,472 26%

Shareholders Equity 5,569 6,070 9%

Liab.&Shr.Equity 56,204 64,099 14%

Summary Income Statement

3



Consolidated (in Mn TL, quarterly)

30.09.2013 30.06.2014 30.09.2014 YoY Chg Q. Chg

Net Interest Income 479.7 639.8 709.5 47.9% 10.9%

Gains/Losses From Derivatives and FX position 7.5 -133.8 -93.1

Securities Trading Gain/ Loss -9.3 18.1 -6.8

Net Fee&Commissions 178.6 229.6 249.4 39.7% 8.6%

Other Income 26.2 45.5 33.9 29.5% -25.6%

Net Banking Income 682.6 799.2 892.8 30.8% 11.7%

Loan Provision Expense -110.6 -110.4 -112.2 1.5% 1.6%

Net Operating Income 572.0 688.8 780.6 36.5% 13.3%

Other Operating Expense -431.8 -502.4 -496.0 14.9% -1.3%

Dividend Income 0.0 1.3 0.0

Tax Provisions -36.7 -39.2 -59.7 62.8% 52.2%

Net Profit 103.6 148.5 224.9 117.1% 51.5%

Strong balance sheet growth with continuing

commitment to core banking activities

4


SME loans make up almost half of total loans

5

Source: TEB BRSA Bank only Financials

NPL ratio maintained below sector averages

6


Coverage Ratio

67.5%

60.2%

52.6%56.0%

65.9%71.3%

60.0% 60.8%63.3% 64.3%

59.8%

89.7%86.8%

79.8%83.6% 83.8%

79.4%75.2% 76.4% 76.7% 75.8% 74.6%

2006 2007 2008 2009 2010 2011 2012 2013 14-Q1 14-Q2 14-Q3

TEB Sector

NPL Ratio

0.9%

1.8%2.3%

4.6%

3.0%

2.8%

2.1% 2.2% 2.3% 2.5%2.2%

3.8%3.5% 3.7%

5.3%

3.6%

2.7%

2.8% 2.7% 2.8% 2.7% 2.8%

2006 2007 2008 2009 2010 2011 2012 2013 14-Q1 14-Q2 14-Q3

TEB Sector

Loan portfolio(*) highly distributed among industries

7

(*) incl. non-cash balance

Composition of marketable securities

8


PS: The FX portfolio is vey small and it is all f ixed rate.

Total Securities Compositions Interest Rate Compositions

66%49%

34%51%

2013 Q4 2014 Q3

Total Securities

Floating

Fixed

65%49%

18%

25%

17%27%

2013 Q4 2014 Q3

TL Portfolio

CPI Linkers

Floating

Fixed

99.6%

0.4%

2013 Q4

TL

FC

99.5%

0.5%

2014 Q3

TL

FC

81.8%

12.6%

2013 Q4

AFS

Trading

89.8%

2.9% 7.4%

2014 Q3

AFSTradingHTM

L/D ratio in line with the sector

9


Improvement in margins, comfortable CAR

10


(1) 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

Net Interest Margin (1)

4.5% 4.6%

5.0%

5.4%

5.8%

5.2% 5.0% 5.0%

5.2%5.4%

13-Q3 13-Q4 14-Q1 14-Q2 14-Q3

Quarterly Cumulative

Cost / Income Ratio

63.7%68.5%

61.6% 62.8%

55.7%56.4% 59.3% 61.6% 62.2%

59.9%

13-Q3 13-Q4 14-Q1 14-Q2 14-Q3

Quarterly Cumulative

Comfortable CAR supporting growth

14.3%

14.0%

14.4%

13.8% 13.8%

14.7%

14.2%

14.7%

14.0% 13.9%

13-Q3 13-Q4 14-Q1 14-Q2 14-Q3

Consolidated Bank-Only

TEB’s Network

11 11 11

TEB is present in 72 cities out of 81

12

APPENDIX

13

Summary Balance Sheet



Bank only (in Mn TL)

31.12.13 30.09.14 YtD Chg

Liquid Assets 7,136 10,181 43%

Marketable Securities 5,205 4,234 -19%

Loans 38,135 43,635 14%

Other Assets 2,933 3,398 16%

Total Assets 53,409 61,449 15%

Deposit 34,288 38,773 13%

Funds Borrowed 6,793 8,473 25%

Bond Issued 710 597 -16%

Repo 1,062 1,615 52%

Subordinated Debt 1,778 1,802 1%

Other Liabilities 3,490 4,406 26%

Shareholders Equity 5,286 5,782 9%

Liab.&Shr.Equity 53,409 61,449 15%

14

Summary Income Statement



Bank only (in Mn TL, quarterly)

30.09.13 30.06.14 30.09.14 YoY Chg Q. Chg

Net Interest Income 456.8 611.6 680.2 48.9% 11.2%

Gains/Losses From Derivatives and FX position 8.9 -127.4 -87.8

Securities Trading Gain/ Loss -8.5 17.8 -8.4

Net Fee&Commissions 166.3 216.9 236.3 42.1% 8.9%

Other Income 28.9 47.9 37.2 28.8% -22.3%

Net Banking Income 652.4 766.8 857.5 31.5% 11.8%

Loan Provision Expense -108.2 -109.9 -107.2 -0.9% -2.5%

Net Operating Income 544.2 656.9 750.3 37.9% 14.2%

Other Operating Expense -415.5 -481.4 -477.6 14.9% -0.8%

Dividend Income 0.0 1.3 0.0

Tax Provisions -34.3 -36.9 -57.2 66.7% 55.2%

Net Profit 94.3 139.9 215.5 128.5% 54.0%

Ratings of TEB

15

FITCH Rating Outlook

Short Term LC F2

Long Term LC BBB + Stable

Short Term FC F3

Long Term FC BBB Stable

Individual bbb-

National AAA (tur) Stable

Support 2

MOODY'S Rating Outlook (*)

Banking Financial Strength Rating D Stable

Long Term FC Bank Deposits Baa3 Negative

Short Term FC Bank Deposits P-3

Long Term LC Bank Deposits Baa3 Stable

Short Term LC Bank Deposits P-3

16

A Major Player of the Turkish Financial Services Market

16

TEB

Full range of banking

services

TEB N.V.

“Turkish specialist” in the EU

market, total asset size is EUR

571 mio as of 3Q 2014

TEB Factoring

8,33 % market share as of 2Q

2014

TEB Investment

6th largest brokerage & investment

house of Turkey with 3.8% market

share as of 3Q 2014

TEB Asset

Management

8th largest asset management

company with 4.4% market

share as of 3Q 2014

TEB Arval

Operative since October 2007,

5,8% market share as of 3Q

2014

BNPP Leasing

4th largest leasing company in

Turkey with 7.7% market share

as of 2Q 2014

TEB Cetelem

Consumer finance company in

Turkey with 10.2%market share

as of 3Q 2014

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 Kosovo Operative since January 2008,

with 25 branches, as of 3Q

2014

Loans: €283M

Deposits: € 314M

Disclaimer

17

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.

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