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TEB

H1 2019

Summary Balance Sheet

2

Source: TEB Consolidated Financials

TÜRK EKONOMİ BANKASI A.Ş.

Consolidated (in Mn TL)

31.12.2018 30.06.2019 YtD Chg

Cash & Cash Equivalents 19,878 20,696 4%

Marketable Securities 6,702 8,581 28%

Loans (net) (*) 65,679 67,118 2%

Other Assets 6,401 6,850 7%

Total Assets 98,659 103,244 5%

Deposit 64,160 65,804 3%

Funds Borrowed 13,198 12,122 -8%

Securities Issued 527 2,866 444%

Repo 105 1,545 1372%

Subordinated Debt 2,843 3,102 9%

Other Liabilities 7,954 7,875 -1%

Shareholders Equity 9,873 9,930 1%

Liab.&Shr.Equity 98,659 103,244 5%

(*) including Factoring Receviables

Summary Income Statement

3



Consolidated (in Mn TL, cumulative)

30.06.2018 30.06.2019

Net Interest Income 2,277 2,425

Gains/Losses From Derivatives and FX position -240 -206

Securities Trading Gain/ Loss -83 33

Net Fee&Commissions 651 764

Other Income 50 56

Net Banking Income 2,655 3,073

Cost of Risk -388 -708

Net Operating Income 2,266 2,365

Other Operating Expense -653 -784

Personnel Expenses -663 -752

Other Provisions -1 0

Dividend Income 0 1

Tax Provisions -210 -185

Net Profit 740 647

Asset and Liability Composition

4


102,827

114,315

98,659103,511 103,244

11%11%

-14%

5%0%

30.06.18 30.09.18 31.12.18 31.03.19 30.06.19

Balance Sheet Growth

Total Assets Variance

17.9% 22.5% 20.1% 19.3% 20.0%

7.0%6.3% 6.8% 8.7% 8.3%

69.9% 61.7% 66.6% 65.6% 65.0%

5.2% 9.4% 6.5% 6.4% 6.6%

30.06.18 30.09.18 31.12.18 31.03.19 30.06.19

Asset Compositions

Liquid Assets Debt Securities Loans Other Assets

63.9% 62.1% 65.0% 65.8% 63.7%

20.6%19.2% 16.9% 17.0% 19.0%

6.0% 9.8% 8.1% 7.3% 7.6%

9.4% 8.9% 10.0% 9.8% 9.6%

30.06.18 30.09.18 31.12.18 31.03.19 30.06.19

Liability Compositions

Deposit Funds Borrowed Other Liabilities Shareholders Equity

A Closer Look into Loans

5

Source: TEB Bank only Financials

LOB Cross Sell

Corporate 6.1X

SME 4.1X

Retail 3.9X

Private 6.6X

78% 76% 79% 80% 79%

22% 24% 21% 20% 21%

69,749 68,77663,999

66,599 65,418

30.06.18 30.09.18 31.12.18 31.03.19 30.06.19

Loan Compositions

TL Loans FX Loans Total Loans

40.4% 38.7% 37.3% 34.6% 32.6%

42.1% 42.4% 42.9% 45.4% 46.5%

14.6% 16.2% 17.2% 17.3% 18.5%

2.9% 2.7% 2.6% 2.6% 2.4%

30.06.18 30.09.18 31.12.18 31.03.19 30.06.19

Breakdown of Retail Loans

Housing Consumer Credit Cards Vehicle

Corporate; 32.43%

SME; 33.31%

Retail; 33.87%

Private; 0.39%

Performing Loans, 2018 Q4

Corporate; 32.90%

SME; 31.88%

Retail; 34.89%

Private; 0.33%

Performing Loans, 2019 Q2

NPL and Coverage Ratios

6


NPL Ratio

2.8%

2.1%2.2% 2.4% 2.3%

3.1%

3.0%

4.2% 4.6%

5.2%

2.7%

2.8% 2.7% 2.8%3.1% 3.2%

2.9%

3.8% 3.9%4.3%

11-Q4 12-Q4 13-Q4 14-Q4 15-Q4 16-Q4 17-Q4 18-Q4 19-Q1 19-Q2

TEB Sector

Coverage Ratio

71.3%

60.0% 60.8%64.2%

67.3% 68.5%63.8%

59.8% 59.0% 58.0%

79.4%75.2% 76.4%

73.8% 74.6%77.4%

79.4%

68.3% 68.8% 67.6%

11-Q4 12-Q4 13-Q4 14-Q4 15-Q4 16-Q4 17-Q4 18-Q4 19-Q1 19-Q2

TEB Sector

Construction; 11.73%

Textile and Leather Products; 7.93% Food, Beverage and

Tobacco; 7.40%

Other; 11.89%

Metal Products; 7.90%

Motor Vehicles; 5.70%

Finance and Insurance; 2.96%

Transportation and Storage; 2.67%

Agriculture, Forestry and Fishing; 3.82%

Chemical Products; 5.61%

Wholesale and Retail Trade; 3.95%

Machinery and Equipment; 3.19%

Electrical Apparatus; 3.56%

Precious Metal; 2.58%

Administrative and Technical Activities; 2.06%

Tourism; 2.82%

Wood Products; 1.95%

Potential Taxpayers; 0.99%

Fuel Products; 1.84%

Other Minerals and Mining; 2.49%

Computer, Electronic and Optical Products; 0.98%

Information and Communication; 3.54%

Rubber and Plastic; 1.55%

Food and Beverage Services (Restaurants); 0.88%

Sectoral Breakdown of Loan Portfolio(*)

7

(*) incl. non-cash loans, excl. retail loans

Composition of Debt Securities

8


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

Total Securities Compositions Interest Rate Compositions

41%53%

59%47%

2018 Q4 2019 Q2

Total Securities

Floating

Fixed

35% 31%

47%45%

17% 23%

2018 Q4 2019 Q2

TL Portfolio

CPI Linkers

Floating

Fixed

90.8%

9.2%

2018 Q4

TL

FC 67.7%

32.3%

2019 Q2

TL

FC

49.1%

7.9%

41.7%

2018 Q4

FVOCIFVPLAC

37.9%

12.0%

48.8%

2019 Q2

FVOCIFVPLAC

A Closer Look into Deposits

9


60%55%

58%

51% 51%

40% 45% 42% 49% 49%

65,79271,068

64,21768,276 65,859

30.06.18 30.09.18 31.12.18 31.03.19 30.06.19

TL/FX Deposit Compositions

TL Deposits FX Deposits Total Deposits

81% 84% 82% 79% 79%

19% 16% 18% 21% 21%

12,51111,624 11,645

14,069 14,128

30.06.18 30.09.18 31.12.18 31.03.19 30.06.19

Time/Demand Deposit Compositions

Time Deposits Demand Deposits Demand Deposits

111%102%

110% 114% 119%

112% 113%

100% 97% 99%94% 99%

106% 112% 114%

114% 119% 114%110% 109%

11-Q4 12-Q4 13-Q4 14-Q4 15-Q4 16-Q4 17-Q4 18-Q4 19-Q1 19-Q2

Loan / Deposit Ratio

TEB Sector

Corporate; 19.21%

SME; 9.78%

Retail; 49.60%

Private; 21.40%

Total Deposits, 2018 Q4

Corporate; 16.06%

SME; 9.85%

Retail; 55.09%

Private; 19.00%

Total Deposits, 2019 Q2

Evolution of Cost of Risk

10


Cost of Risk

1.0%

2.4%2.6%

2.0%2.3%

1.2%

1.6%2.0%

2.0%

2.1%

18-Q2 18-Q3 18-Q4 19-Q1 19-Q2

Quarterly Cumulative

Cost of Risk (Stage 3)

0.9%

1.2%

2.2%

2.0%

2.0%

0.9%

1.1%

1.4%

2.0%

2.0%

18-Q2 18-Q3 18-Q4 19-Q1 19-Q2


Cost of Risk (Stage 1 & 2)

0.0%

1.2%

0.4%-0.03%

0.31%0.2%

0.6% 0.6%

-0.03%0.14%

18-Q2 18-Q3 18-Q4 19-Q1 19-Q2


Other Significant Ratios

11


Comfortable CAR supporting growth

14.8%

16.4%16.7%

15.5%

16.4%15.1%

16.6%16.9%

15.6%

16.6%

18-Q2 18-Q3 18-Q4 19-Q1 19-Q2

Consolidated Bank-Only

Net Interest Margin

4.8%4.4%

3.7%

5.0%

4.2%4.5%4.4%

4.6%5.0%

4.7%

18-Q2 18-Q3 18-Q4 19-Q1 19-Q2


Cost / Income Ratio

48.1%49.4%

57.0%

48.2%49.8%

49.6% 49.5%

51.3%

48.2%

49.8%

18-Q2 18-Q3 18-Q4 19-Q1 19-Q2


TEB’s Network

121212

TEB is present in 71 cities

As of 30/06/2019

Number of Clients: 6 million

Number of Branches: 496

Total Staff: 9,115

ATM: 1,737

POS: 155,667

12

4

Van

Konya

Kırşehir

Sinop

Çankırı

BilecikTokat

Bitlis

HakkariŞırnak

Siirt

Karaman

Balıkesir

Afyon

Uşak

Aydın

İzmir

Edirne

Kırklareli

İstanbulTekirdağ

Çanakkale

Kocaeli

Yalova

Kastamonu

Samsun

Ankara

Kırıkkale

Aksaray

Isparta

Burdur

Antalya

Mersin

Niğde

Yozgat

AmasyaOrdu

Adana

Hatay

G.Antep

K.Maraş

Malatya

Adıyaman

G.Hane

Muğla

Düzce

Osmaniye

Kilis

DenizliAydın

Uşak

Manisa

BingölTunceli

Van

Muş

Ş.Urfa

Elazığ

Diyarbakır

Mardin

Batman

Erzincan

GiresunTrabzon

Rize

Eskişehir

Bursa

Kütahya

Bolu

Sivas

Çorum

Kayseri

KarabükArdahan

Ağrı

Iğdır

Artvin

Kars

Erzurum

148

13

1

3

1

2

34

1

7

1

1

2

1

7

4

14

2

1

15

1

1

40

3

11

1

1

2

13

3

112

1

31

7

2

5

2

2

2

4

1

1

1

1

Bartın

Sakarya

Zonguldak

Bayburt

Nevşehir

1

1

1

1

13

2

1

1

3

26

2

1

3

7

2

16

3

6

10

3 22

8

13

APPENDIX

14

Summary Balance Sheet



Bank only (in Mn TL)

31.12.2018 30.06.2019 YtD Chg

Cash & Cash Equivalents 19,852 20,664 4%

Marketable Securities 6,700 8,462 26%

Loans (net) (*) 63,999 65,418 2%

Other Assets 6,446 7,006 9%

Total Assets 96,997 101,549 5%

Deposit 64,217 65,859 3%

Funds Borrowed 11,766 10,630 -10%

Securities Issued 527 2,866 444%

Repo 63 1,505 2307%

Subordinated Debt 2,843 3,102 9%

Other Liabilities 7,843 7,808 0%

Shareholders Equity 9,739 9,780 0%

Liab.&Shr.Equity 96,997 101,549 5%

(*) including Factoring Receviables

15

Summary Income Statement



Bank only (in Mn TL, cumulative)

30.06.2018 30.06.2019

Net Interest Income 2,220 2,359

Gains/Losses From Derivatives and FX position -241 -206

Securities Trading Gain/ Loss -83 33

Net Fee&Commissions 615 728

Other Income 50 56

Net Banking Income 2,561 2,971

Cost of Risk -383 -706

Net Operating Income 2,178 2,265

Other Operating Expense -638 -765

Personnel Expenses -632 -716

Other Provisions -1 0

Dividend Income 17 18

Tax Provisions -201 -174

Net Profit 723 630

Ratings of TEB

16

FITCH (July 19, 2019) Rating Outlook

Long-Term FC Issuer Default Rating B+ Negative

Short-Term FC Issuer Default Rating B -

Long-Term LC Issuer Default Rating BB- Negative

Short-Term LC Issuer Default Rating B -

Viability Rating b+ -

National Long-Term Rating AA (tur) Stable

Bank Support Rating 4 -

MOODY'S (June 19, 2019) Rating Outlook

Long Term FC Bank Deposits B3 Negative

Short Term FC Bank Deposits NP -

Long Term LC Bank Deposits B1 Negative

Short Term LC Bank Deposits NP -

Baseline Credit Assessment b3 -

Adjusted Baseline Credit Assesment b1 -

17

A Major Player of the Turkish Financial Services Market

17

TEB

Full range of banking

services

TEB Factoring

5.64 % market share as of 4Q

2017 TEB Investment

12th largest brokerage &

investment house of Turkey with

2.5% market share at Borsa

İstanbul Equity Market as of 2Q

2019 and 5th largest brokerage &

investment house of Turkey with

5.9% market share at Borsa

İstanbul Derivatives Market as of

as of 2Q 2019

TEB Asset

Management

7th largest asset management

company with 3.7% market

share as of 2Q 2019

TEB Arval

Operative since October 2007,

8.2% market share as of 2Q

2019

BNPP Leasing

10.7% market share as of 1Q

2019

TEB Cetelem

Consumer finance company in

Turkey with 2.5% market share

as of 2Q 2019

BNPP Cardif

Insurance A major global player for

personal insurance

Turkish operations fully owned

by BNP ParibasCardif (S&P A-

rated),100% subsidiary of BNP

Paribas

%3.3 market share in Turkey in

protection insurance & pension

as of 2Q 2019

TEB Kosovo Operative since January 2008,

with 29 branches, as of Q2

2019

Disclaimer

18

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.

single line title · aydın İzmir edirne kırklareli tekirdağ İstanbul Çanakkale kocaeli yalova...

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