ANALYST MEETING
PT Bank Tabungan Negara (Persero) Tbk.
Business & Financial Performances
as of June 30, 2017
Disclaimer
IMPORTANT: The following forms part of, and should be read in conjunction with, the other material in this presentation
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Macroeconomy
4
Outline
Page
Performance Overview
14
Sharia Business
39
Appendices
42
2Q17 Summary
11
Macroeconomy
•
June inflation remained under control at 4.37%
(yoy), still within
BI’s
target of 4
±
1%.
•
Bank
Indonesia
kept
BI
7-Day
RR
Rate
Macroeconomy:
Stronger Macro Outlook
•
The economy grew by 5.01% (yoy) in 1Q17,
supported by stronger export, investment and
consumption.
•
Indonesia’
Controlled Inflation & Interest Rate
Stronger Economic Growth
Banking System:
Loan was Limited, Deposit Began to Improve
Weak Loan Growth
Flat NPL Ratio
Loan growth decelerated to 8.7% (yoy) in May
2017 after showing an increasing trend since
early
2017.
Meanwhile,
deposit
growth
accelerated to 11.2% (yoy) in May 2017.
•
Residential Property Price Index showed a
stronger uptick in 1Q17.
•
Accelerated quarterly from 0.37% to 1.23%
Housing Industry:
Property Price Index Showed An Acceleration
Residential Property Price Index
Growth of Property Sales (% qtq)
BBTN vs Industry
Loan & Deposit Growth
Robust Loan Growth
Strong Deposits Growth
In June 2017, BBTN Loan grew by 18.81%
(yoy), far above industry growth at 8.7% (yoy)
in May 2017. Its acceleration was sustained by
Subsidized Mortgages.
Mortgages & Net Profit
In 1H17, Net Profit of BBTN grew by 21.95%
(yoy), above industry growth at 17.20% (yoy) in
May 2017.
Solid Mortgages Growth
Strong Profitability
2Q17 Summary
2Q17 Key Takeaways
•
Deposits rose by 18.26% (yoy) sufficient to support loan growth
•
LCR was sufficient at 154.52%
•
Wholesale funding of Rp8.385 trn from NCD & bilateral loans
•
Rp1 trn of asset securitization
•
NPL gradually improved to 3.23%, lower than 3.41% in June 2016
•
NPL on subsidized mortgage continued to improve, while construction & commercial
loans got better
Solid
Profitability
•
Net profit increased by 21.95% (yoy)
•
Net interest income raised by 14.13% (yoy), fee income grew by 35.33% (yoy)
•
Loan growth was 18.81% (yoy), supported by the government program of 1 million houses
•
Subsidized mortgage demand remained strong with 28.34% growth
•
Sustaining the leadership of mortgage in Indonesia by 35.4% & holding 95.77% of national
subsidized mortgage disbursement
Performance Overview
Financial Highlight
(IDR Billion)
FY 2012
FY 2013
FY 2014
FY 2015
FY 2016
1H 2016
1H 2017
y.o.y
Total Asset
111,749
131,170
144,582
171,808
214,168
189,513
224,067
18.23%
CAR (Tier 1)
16.95%
14.91%
14.07%
14.87%
16.54%
16.82%
15.08%
CAR (BI)
17.69%
15.62%
14.64%
16.97%
20.34%
22.07%
18.38%
NPL (Gross)
4.09%
4.05%
4.01%
3.42%
2.84%
3.41%
3.23%
NPL (Nett)
3.12%
3.04%
2.76%
2.11%
1.85%
2.23%
2.24%
N I M
5.83%
5.44%
4.47%
4.87%
4.98%
4.65%
4.42%
C I R
49.71%
50.86%
57.21%
50.08%
48.41%
54.23%
54.03%
COVERAGE RATIO
29.48%
27.97%
33.77%
43.14%
45.25%
40.79%
38.78%
ROE
18.23%
16.05%
10.95%
16.84%
18.35%
16.22%
15.64%
ROA
1.94%
1.79%
1.14%
1.61%
1.76%
1.54%
1.52%
LDR
100.90%
104.42%
108.86%
108.78%
102.66%
110.97%
111.49%
Asset Composition
Total Assets
(IDR Trillion)
Assets Composition
Earning Asset Composition
Total Earning Asset
(IDR Trillion)
Earning Asset Composition
IDR Bn Shares IDR Bn Shares IDR Bn Shares IDR Bn Shares IDR Bn Shares IDR Bn Shares IDR Bn Shares
Housing Loans 70,223 86.26% 87,005 86.60% 102,614 88.52% 124,927 89.90% 147,948 89.97% 135,745 90.91% 159,739 90.04% 17.68%
Mortgages: Growth Remained Strong
Subsidized Mortgages
(IDR Billion)Non Subsidized Mortgages
(IDR Billion)Mortgage Composition
(%)Loan Quality: Manageable NPL
Gross NPL
(%)31-Dec
31-Dec
31-Dec
31-Dec
31-Dec
IDR Bn Share IDR Bn Share IDR Bn Share IDR Bn Share IDR Bn Share IDR Bn Share IDR Bn Share
Current 68,420 84.04% 84,301 83.91% 95,262 82.18% 116,887 84.12% 142,963 86.94% 125,535 84.07% 150,333 84.74%
Special Mentioned 9,665 11.87% 12,101 12.04% 16,004 13.81% 17,316 12.46% 16,807 10.22% 18,688 12.52% 21,338 12.03%
PL 78,085 95.91% 96,402 95.95% 111,266 95.99% 134,203 96.58% 159,770 97.16% 144,223 96.59% 171,671 96.77%
Substandard 686 0.84% 458 0.46% 338 0.29% 250 0.18% 260 0.16% 469 0.31% 493 0.28%
Doubtful 542 0.67% 457 0.45% 454 0.39% 359 0.26% 333 0.20% 565 0.38% 670 0.38%
Loss 2,098 2.58% 3,151 3.14% 3,859 3.33% 4,144 2.98% 4,083 2.48% 4,059 2.72% 4,567 2.57%
NPL 3,326 4.09% 4,066 4.05% 4,650 4.01% 4,753 3.42% 4,676 2.84% 5,093 3.41% 5,730 3.23%
PL + NPL 81,411 100.00% 100,467 100.00% 115,916 100.00% 138,956 100.00% 164,446 100.00% 149,316 100.00% 177,401 100.00%
Note : Figures Include Sharia financing
Special-Mentioned Loan
Special-Mentioned by Loan Type
(%)Restructured Loan
Restructured Loan by Quality in 2Q17
(%)Restructured Loan in 2Q17
(IDR Billion)Liabilities: Sufficient to Support Loan Growth
Total Liabilities
(IDR Trillion)
Funding Composition
(IDR Trillion)
Funding Composition
Deposits
FY 2012 FY 2013 FY 2014 FY 2015 FY 2016
1H2016
1H2017
y.o.y
Current Account
13.27
19.12
23.23
31.37
45.85
33.12
41.73
25.97%
Savings Account
21.54
24.24
25.55
30.76
34.83
28.81
33.04
14.69%
Time Deposits
45.88
52.86
57.70
65.62
79.52
72.62
84.36
16.16%
Total
80.69
96.21
106.48
127.75
160.19
134.55
159.12
18.26%
Deposits: Solid Growth & Liquidity
Total Deposits Mix
(IDR Trillion)
CASA Composition
Total Equity
(IDR Trillion)
CAR - BI
(%)
2012
2013
2014
2015
2016
Jun-16
Jun-17
CAR B/S/(RWA Credit + Market Risk)
21.98%
19.91%
18.43%
19.60%
22.11%
22.25%
21.44%
CAR B/S/(RWA Credit + Market + Ops Risk)
19.28%
17.44%
16.05%
16.93%
19.24%
19.12%
18.46%
CAR BI ((Tier 1+2)/(RWA Credit + Market Risk))
20.17%
17.84%
16.81%
19.65%
23.37%
25.68%
21.34%
CAR BI ((Tier 1+2)/(RWA Credit + Ops Risk))
17.75%
15.69%
14.68%
17.01%
20.41%
22.16%
18.48%
CAR BI ((Tier 1+2)/(RWA Credit + Market +
Ops Risk))
17.69%
15.62%
14.64%
16.97%
20.34%
22.07%
18.38%
CAR Tier – 2
2.10%
3.80%
5.25%
3.30%
Capital Conservation Buffer
0.63%
0.63%
1.25%
FY2012 FY2013 FY2014 FY2015 FY2016
1H2016 1H2017
Y.o.Y
Placement with Bank Indonesia
46
74
81
107
111
63
46
-27.07%
Placement with other bank
52
63
40
37
56
23
11
-54.90%
Securities
534
726
982
858
971
450
482
7.13%
Loan
7,901
9,605
11,353
13,523
15,458
7,367
8,128
10.34%
Income from Syariah
573
729
919
1,042
1,256
579
687
18.78%
Total
9,106
11,197
13,374
15,567
17,852
8,482
9,354
10.28%
Interest Income Composition
FY2012 FY2013 FY2014 FY2015 FY2016
1H2016 1H2017
Y.o.Y
Bank Indonesia
8
5
2
1.06
-
-
-
-Deposits from other Banks
20
39
84
328
285
200
203
1.27%
Deposits from Non Banks
3,118
4,082
6,290
6,750
7,363
3,625
3,915
7.99%
Securities Issued
674
826
787
883
1,088
518
583
12.55%
Fund Borrowings
400
450
529
516
718
360
387
7.45%
Others
159
157
201
222
147
82
48
-41.45%
Total
4,379
5,558
7,893
8,700
9,600
4,786
5,136
7.32%
Interest Expense Composition
FY2012 FY2013 FY2014 FY2015 FY2016
1H2016 1H2017
Y.o.Y
Marked to market
9
17
7
-
10
13
62
377.08%
Gain
17
32
112
170
273
124
184
48.11%
Reversal on Provisions
-
8
5
7.51
0.10
0.02
3.14
12997.96%
Commissions, Services & Admin Fee *)
11
31
496
596
656
298
387
29.90%
Others *)
541
709
303
358
347
149
154
3.55%
Total
577
798
923
1,132
1,285
584
791
35.33%
Other Operating Income Composition
(IDR Billion)
Key Financial Ratios (1/4)
Net Income
(IDR Billion)
Key Financial Ratios (2/4)
ROA
1–
before tax
Key Financial Ratios (3/4)
ROE
3–
tier 1 capital
ROE
4–
balance sheet
15.28%
Key Financial Ratios (4/4)
Loan-to-Deposit Ratio
Sharia Business
Sharia Business
Sharia Assets
(IDR Billion)
Sharia Net Profit
(IDR Billion)
Sharia Deposits
Sharia Financings & NPF
Sharia Disbursement
(IDR Billion)
Sharia NPF (Gross)
(%)
Sharia NPF (Net)
(%)
