ANALYST MEETING
PT Bank Tabungan Negara (Persero) Tbk.
Business & Financial Performances
as of September 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
3Q17 Summary
11
Macroeconomy
•
September inflation was manageable at 3.72%
(yoy), still within
BI’s
target of 4
±
1%.
•
Bank Indonesia cut its policy rate twice by 50bps
during 3Q17, bringing the BI 7-Day RR Rate to
second half of 2017, on the back of export and
investment performance.
Banking System:
Loan was Limited, Decelerated Deposit Growth
Weak Loan Growth
Relatively Flat Trend of NPL
Loan growth still limited at 8.3% (yoy) in Aug
2017 after showing an increasing trend since
early
2017.
Meanwhile,
deposit
growth
decelerated to 9.6% (yoy) in Aug 2017.
•
Residential Property Price Index in 2Q17
decelerated quarterly from 1.23% (qtq) to
1.18% (qtq) but grew annually at 3.17%
(yoy), up from 2.62% (yoy).
•
The rising prices affected all property types,
especially small houses.
Housing Industry:
Slower Growth of Residential Property Prices
Residential Property Price Index
Growth of Property Sales (% qtq)
•
Residential property sales decelerated from
BBTN vs Industry
Loan & Deposit Growth
Robust Loan Growth
Decent Deposits Growth
In Sep 2017, BBTN Loan grew by 19.95%
(yoy), far above industry growth at 8.3% (yoy)
in Aug 2017. Its acceleration was sustained by
Subsidized Mortgages.
Mortgages & Net Profit
In 9M17, Net Profit of BBTN grew by 23.68%
(yoy), above industry growth at 17.68% (yoy) in
Aug 2017.
Solid Mortgages Growth
Strong Profitability
3Q17 Summary
Bank BTN’s Achievement on 1 Million Houses Program
Unit
IDR Bn
Unit
IDR Bn
Unit
IDR Bn
Unit
IDR Bn
Unit
IDR Bn
3Q17 Key Takeaways
•
Deposits rose by 13.96% (yoy) driven by CASA growth
•
LCR was sufficient at 154.56%
•
Wholesale funding of Rp14.385 trn from NCD, bilateral loans and bonds issuance
Sufficient
Liquidity
Improved
Asset
Quality
•
NPL gradually improved to 3.07%, lower than 3.60% in Sep 2016
•
NPL on subsidized mortgage continued to improve, while construction & commercial
loans significantly got better
Solid
Profitability
•
Net profit increased by 23.68% (yoy)
•
Net interest income raised by 16.95% (yoy), fee income grew by 35.50% (yoy)
•
Loan growth was 19.95% (yoy), supported by the government program of 1 million houses
•
Subsidized mortgage demand remained strong with 30.78% (yoy) growth
•
Sustaining the leadership of mortgage in Indonesia by 35.62% & holding 96.69% of national
subsidized mortgage disbursement
Performance Overview
FY 2012
FY 2013
FY 2014
FY 2015
FY 2016
3Q 2016
3Q 2017
y.o.y
CAR (Tier 1)
16.95%
14.91%
14.07%
14.87%
16.54%
16.50%
14.01%
Balance Sheet
(IDR Billion)
FY 2012
FY 2013
FY 2014
FY 2015
FY 2016
3Q 2016
3Q 2017
y.o.y
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% 140,104 91.09% 167,168 90.61% 19.32%
Mortgages: Growth Remained Strong
Subsidized Mortgages
(IDR Billion)
Non Subsidized Mortgages
(IDR Billion)
Mortgage Composition
(%)
Total Mortgages
Loan Quality: NPL Continues to Improve
Gross NPL
(%)
Net NPL
31-Dec
31-Dec
31-Dec
31-Dec
31-Dec
Commercial Loan
5.72%
6.63%
10.16%
11.57%
9.44%
13.16%
8.87%
4.09%
4.05%
4.01%
3.42%
2.84%
3.60%
3.07%
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% 129,549 84.22% 157,241 85.22% Special Mentioned 9,665 11.87% 12,101 12.04% 16,004 13.81% 17,316 12.46% 16,807 10.22% 18,728 12.18% 21,589 11.70% PL 78,085 95.91% 96,402 95.95% 111,266 95.99% 134,203 96.58% 159,770 97.16% 148,278 96.40% 178,830 96.93% Substandard 686 0.84% 458 0.46% 338 0.29% 250 0.18% 260 0.16% 653 0.42% 465 0.25% Doubtful 542 0.67% 457 0.45% 454 0.39% 359 0.26% 333 0.20% 650 0.42% 565 0.31% Loss 2,098 2.58% 3,151 3.14% 3,859 3.33% 4,144 2.98% 4,083 2.48% 4,234 2.75% 4,642 2.52% NPL 3,326 4.09% 4,066 4.05% 4,650 4.01% 4,753 3.42% 4,676 2.84% 5,536 3.60% 5,672 3.07% PL + NPL 81,411 100.00% 100,467 100.00% 115,916 100.00% 138,956 100.00% 164,446 100.00% 153,814 100.00% 184,502 100.00%
Note : Figures Include Sharia financing
Special-Mentioned Loan
Special-Mentioned by Loan Type
(%)
Special-Mentioned Loan
Restructured Loan
Restructured Loan by Quality in 9M17
(%)
Restructured Loan in 9M17
(IDR Billion)
Restructured Loan Outstanding
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
3Q2016 3Q2017
y.o.y
Current Account
13.27
19.12
23.23
31.37
45.85
38.16
44.51
16.65%
Savings Account
21.54
24.24
25.55
30.76
34.83
29.08
37.17
27.83%
Time Deposits
45.88
52.86
57.70
65.62
79.52
80.24
86.38
7.65%
Total
80.69
96.21
106.48
127.75
160.19
147.47
168.05
13.96%
Deposits: Boost from CASA
Total Deposits Mix
(IDR Trillion)
CASA Composition
Total Equity
(IDR Trillion)
CAR - BI
(%)
2012
2013
2014
2015
2016
Sep-16
Sep-17
CAR B/S/(RWA Credit + Market Risk)
21.98%
19.91%
18.43%
19.60%
22.11%
22.41%
19.64%
CAR B/S/(RWA Credit + Market + Ops Risk)
19.28%
17.44%
16.05%
16.93%
19.24%
19.33%
17.19%
CAR BI ((Tier 1+2)/(RWA Credit + Market Risk))
20.17%
17.84%
16.81%
19.65%
23.37%
23.88%
19.39%
CAR BI ((Tier 1+2)/(RWA Credit + Ops Risk))
17.75%
15.69%
14.68%
17.01%
20.41%
20.73%
17.12%
CAR BI ((Tier 1+2)/(RWA Credit + Market +
Ops Risk))
17.69%
15.62%
14.64%
16.97%
20.34%
20.60%
16.97%
CAR Tier – 2
2.10%
3.80%
4.10%
2.96%
Capital Conservation Buffer
0.63%
0.63%
1.25%
Countercyclical Buffer
0.00%
0.00%
0.00%
FY 2012
FY 2013
FY 2014
FY 2015
FY 2016
3Q 2016
3Q 2017
y.o.y
Interest Income
9,106
11,197
13,374
15,567
17,852
12,817
14,431
12.59%
Interest Expense
(4,379)
(5,558)
(7,893)
(8,700)
(9,600)
(7,219)
(7,884)
9.21%
Net Interest Income
4,726
5,639
5,482
6,867
8,252
5,598
6,547
16.95%
Other Operating Income
577
798
923
1,132
1,285
892
1,209
35.50%
Other Operating Expense
(3,438)
(4,301)
(4,828)
(5,465)
(6,184)
(4,294)
(5,169)
20.38%
Profit From Operating
1,865
2,136
1,577
2,534
3,352
2,197
2,587
17.79%
Non Operating Income (Expense)
(8)
5
2
8
(22)
(7)
(8)
15.49%
Profit Before Tax
1,857
2,141
1,579
2,542
3,330
2,190
2,579
17.79%
Net Profit
1,364
1,562
1,146
1,851
2,619
1,621
2,005
23.68%
Income Statement
FY2012 FY2013 FY2014 FY2015 FY2016
9M2016 9M2017
Y.o.Y
Placement with Bank Indonesia
46
74
81
107
111
88
109
23.45%
Placement with other bank
52
63
40
37
56
45
14
-68.63%
Securities
534
726
982
858
971
719
721
0.33%
Loan
7,901
9,605
11,353
13,523
15,458
11,098
12,510
12.72%
Income from Syariah
573
729
919
1,042
1,256
867
1,077
24.23%
Total
9,106
11,197
13,374
15,567
17,852
12,817
14,431
12.59%
Interest Income Composition
Interest Expense Composition
(IDR Billion)
FY2012 FY2013 FY2014 FY2015 FY2016
9M2016 9M2017
Y.o.Y
Bank Indonesia
8
5
2
1.06
-
-
-
-Deposits from other Banks
20
39
84
328
285
248
298
20.30%
Deposits from Non Banks
3,118
4,082
6,290
6,750
7,363
5,501
5,920
7.62%
Securities Issued
674
826
787
883
1,088
796
968
21.69%
Fund Borrowings
400
450
529
516
718
551
626
13.55%
Others
159
157
201
222
147
123
71
-42.04%
Other Operating Income Composition
(IDR Billion)
*) Reclassified
FY2012 FY2013 FY2014 FY2015 FY2016
9M2016 9M2017
Y.o.Y
Marked to market
9
17
7
-
10
54
50
-7.78%
Gain
17
32
112
170
273
171
310
81.69%
Reversal on Provisions
-
8
5
7.51
0.10
0.04
1.45
3796.01%
Commissions, Services & Admin Fee *)
11
31
496
596
656
447
616
37.93%
Others *)
541
709
303
358
347
220
231
4.70%
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)
(%)
