Slayt 1 - İş Bankası

ISBANK
INVESTOR
PRESENTATION
2015
Contents
Isbank at a Glance
3
Financial Highlights
7
Retail Banking
27
Major Equity Participations
30
2
Isbank at a Glance
3
Financial Highlights
7
Retail Banking
27
Major Equity Participations
30
3
Isbank in Brief
• Stocks are quoted at BIST and also traded at LSE in
the form of GDRs.
Free Float
31.76%
Isbank Pension
Fund
Widespread
shareholder
base…
• Largest stake owned by employees via pension
fund
Ataturk Shares
40.15%
• 1,354 domestic branches country-wide (largest
among private banks), and 23 foreign branches
28.09%
• 6,582 ATMs (largest ATM network in the country)
Branch Additions (Net)
8
7
17 361
49 4
11
Nationwide
coverage…
4
6
9 5
3
2
5
31 13
135
21
13
5
24
6
110
18
19
22
5
7
3
5
8
8
3
7
33
4
7
3
10
33
51
27
1
5
9
5
1 25
5
1
3
9
4
6
21
18 5
2 1
6
7
3
2
6
16 Isbank Branches in
International
coverage…
16
6
1
12
6
10
1
3
1
2
2 1
3
6
5
3
3
18
Northern Cyprus
2 Isbank Branches in
London, UK.
1 Branch in
Manama, Bahrain
2 Branches in
Arbil and Baghdad,
Iraq
2 Branches in
Pristine and
Prizren, Kosovo
HO + 13 Isbank AG
Branches in Germany –
Bank Subsidiary
1 Isbank AG Branch
in Amsterdam, the
Netherlands
1 Isbank AG
Branch in Paris,
France
1 Isbank AG
Branch in Zurich,
Switzerland
1 Isbank AG Branch
in Sofia, Bulgaria
HO + 11 Isbank Russia
Branches in Russia –
Bank Subsidiary
HO+2 Isbank Georgia
Branches in Georgia
- Bank Subsidiary
1 Representative
Office in
Shang-hai, China
1 Representative
Office in Cairo,
Egypt
4
Main Business Lines
Banking Services
Other Financial Services
Corporate Banking
Insurance
Commercial Banking
Private Pension
Retail Banking
Asset Management
Private Banking
Venture Capital
Capital Market Operations
Investment Banking
Other Banking Services
REIT
Leasing & Factoring
Brokerage & Custody
5
The Largest Private Bank
Market Share (%)
2015
Rank(2)
Total Assets
12.3
1
Total Loans
12.4
1st
TL Loans
11.9
1st
FX Loans
13.5
1st
Consumer Loans(3)
Non-Retail Loans
12.5
2nd
12.3
1st
Total Deposits
12.4
1
TL Deposits
10.5
1
FX Deposits
14.7
1
Demand Deposits
15.2
1st
Main Balance Sheet Items
(1)
st
st
st
st
Other Products & Distribution Network
(4)
nd
11.6
2
Number of POS(4)
11.1
3rd
Acquiring Volume(4)
14.5
3rd
Number of Credit Cards(4)
11.6
3rd
Issuing Volume(4)
Number of Branches
13.3
3rd
12.3
1
Number of ATMs
13.6
1
Volume of Debit Cards
st
st
1) Market share calculations are based on weekly BRSA data excluding participation banks. Total assets market share is based on monthly BRSA data.
2) Ranking among private-sector banks
3) Including retail overdraft accounts
4) Market share calculations are based on Interbank Card Center (BKM) data.
6
Isbank at a Glance
3
Financial Highlights
7
Retail Banking
27
Major Equity Participations
30
7
Growth Performance
Total Assets (TL mn.)
Loans (TL mn.)
0%
16.
210,500
161,669
0%
14.
275,718
237,772
177,037
155,315
175,444
134,843
91,621
2011
2012
2013
2014
2015
Deposits (TL mn.)
2011
106,716
2012
2013
2014
Shareholders’ Equity (TL mn.)
%
9.3
2%
15.
29,311
153,802
98,313
105,383
2011
2012
120,975
2015
133,551
22,719
23,579
2012
2013
32,035
17,921
2013
2014
2015
2011
2014
2015
8
Asset Structure
Main Balance Sheet Items
(TL mn.)
2014
2015
Asset Composition
Change
Cash & Banks
26,000
33,170
27.6%
Securities (Net)
40,856
44,781
9.6%
155,315
177,037
14.0%
Participations (Net)
9,625
9,394
-2.4%
Fixed Assets (Net)
2,236
4,747
112.3%
Other Assets
3,739
6,589
76.2%
Total Assets
237,772
275,718
16.0%
Loans
Interest Earning Assets / Total Assets
92.3%
91.4%
92.2%
92.3%
10.9%
12.0%
17.2%
16.2%
2012
2013
2014
64.2%
65.3%
Participations
3.4%
4.1%
2015
4.0%
2.5%
2014
Fixed & Other
Assets
Loans / Assets
91.3%
2015
Securities
Loans
56.7%
2011
Cash & Banks
2011
60.8%
64.1%
65.3%
64.2%
2012
2013
2014
2015
9
Solid Lending Franchise
Loan Portfolio QoQ (TL mn.)
Loans / Deposits
-1.7
%
0.0%
180,156 177,037
-4.6
%
116.3%
115.1%
111.7%
110.6%
113,141 113,137
67,015 63,899
TL
FX *
Total
2015 Q3
2014
Loans/Deposits
2015 Q4
* -1.0% change in FX loans when adjusted for the change in exchange rate.
Loan Portfolio YtD (TL mn.)
2015
Loans/Deposits (Adj.)*
* TL securities issued added to deposits.
TL / FX Mix of Loans
0%
14.
7%
12.
100,404
155,315
4%
16.
113,137
177,037
54,911 63,899
TL
2014
FX *
2015
Total
*-6.0% change in FX loans when adjusted for the change in exchange rate.
35.8%
33.1%
35.4%
35.4%
36.1%
64.2%
66.9%
64.6%
64.6%
63.9%
2011
2012
2013
2014
2015
TL
FX
10
Retail Oriented and Diversified Loan Portfolio
… 50% comprised of retail and SME loans.
Total Loans (TL mn.)
155,315
Consumer Loans (TL mn.)
177,037
21.5%
20.6%
5.9%
5.9%
23.8%
23.8%
33,316
36,403
55.0%
53.1%
Retail Loans
26.4%
Auto Loans
(1)
Consumer
Credit Cards(2)
2.9%
2.2%
SME(3)
48,9%
2014
49.7%
Commercial &
Corporate
2015
General Purpose
Consumer Loans
Housing Loans
Retail Overdraft
40.8%
43.2%
1.3%
1.5%
2014
2015
(1) Includes retail overdraft accounts.
(2) Includes retail credit card balances only.
(3) SME definition includes companies with number of employees < 250 and turnover or total assets <= TL 40 mn.
11
Loan Quality
NPL Ratio by Loan Categories(2015)
NPL Ratio
(1)
Consumer
2.0%
Credit Cards
1.5%
1.7%
1.6%
1.5%
2.0%
(2)
SME
Corporate and commercial
14 Q4
15 Q1
15 Q2
15 Q3
15 Q4
Total Loans
NPL Trends* (TL mn)
0.42%
1.06%
0.68%
15 Q2
Recoveries
- Net NPL Formation Rate**
* Quarterly
** Net NPL Formation (annualized) / Average Loans
1.1%
2.0%
315
303
284
23.0%
83 bps
75.1%
473
788
Coverage Ratio
587
294
268
562
282
263
545
159
301
460
Collection Rate (3)
Gross CoR(4)
14 Q4
15 Q1
Additions to NPLs
2.7%
Other Indicators (2015 Q4)
0.69%
0.71%
4.9%
15 Q3
15 Q4
Net NPL Formation
(1) Includes retail overdraft accounts.
(2) SME definition includes companies with number of employees < 250 and turnover
or total assets <= TL 40 mn.
(3) Collections / (Prior period ending balance NPL + Additions)
(4) Specific Provisions / Average Loans
12
Securities Portfolio
Breakdown of Securities (2015)
FX Floating,
1.8%
TL Floating,
46.1%
TL Discount
& Fixed ,
32.2%
Total Portfolio
44.8
40.9
34.9
33.6
FX Discount
& Fixed ,
19.9%
7.3
9.9
3.5
3.1
2014
TL Securities (TRY bn.)
FX Securities* (USD bn.)
• Government bonds and treasury bills
constitute 97% of total portfolio.
• 91% of securities are Available for Sale
• 27.9% share of CPI linkers in total portfolio
• 279 mn. TL interest revenue and 8.95%
quarterly yield on CPI linkers portfolio.
2015
FX Securities (TRY bn.)
Total Securities (TRY bn.)
• Average durations are
•1.77 years for TL Securities
•5.55 years for FX Securities
• Yields of TL and FX securities are 9.12% and
3.99%, respectively in 2015 Q4.
13
Strong Fund Generation Capability
Main Balance Sheet Items
Liabilities Composition
(TL mn.)
2014
2015
Change
Deposits
133,551
153,802
15.2%
REPOs & Money Market
17,696
20,089
13.5%
12.3%
11.6%
Funds Borrowed
20,669
28,408
37.4%
8.2%
7.8%
Securities Issued
17,154
19,761
15.2%
7.2%
7.2%
10.3%
7.3%
Other*
19,391
21,621
11.5%
8.7%
Equity
29,311
32,035
9.3%
7.4%
237,772
275,718
16.0%
Total Liabilities & Equity
Equity
Other
Securities Issued
Funds Borrowed
* Includes subordinated debt of USD 1.4 bn. as of 2014 and 2015.
56.2%
55.8%
REPOs&Money
Market
Deposits
Largest TL funding base among private-sector
banks
2014
2015
14
Largest Deposits Franchise
… a clear indicator of customer trust.
Deposits QoQ (TL mn.)
Market Shares
-1.4
%
%
4.8
-6.5
%
14.9%
155,988 153,802
11.4%
69,852 73,230
12.7%
14.7%
10.5%
12.4%
86,136 80,572
TL
FX *
2015 Q3
Total
2014
TL Deposits
FX Deposits
2015
Total Deposits
2015 Q4
*-2.9%change in FX deposits when adjusted for the change in exchange rate.
Deposits YtD (TL mn.)
2%
15.
%
0.3
153,802
133,551
0%
33.
72,986 73,230
60,566
TL
• TL savings deposits account for 34% of total
deposits .
80,572
FX *
2014
• Largest market share in TL, FX, demand,
savings and total deposits among private
sector banks
Total
2015
* 7.4% increase in FX deposits when adjusted for the change in exchange rate.
15
Demand Deposits
…make significant contribution to lower cost of funding.
25,623
50%
20,947
54%
18,627
43%
2012
TL
FX*
22.2%
22.8%
15 Q3
15 Q4
Total
• Largest market share in demand deposits
among private-sector banks
55%
2011
15 Q2
* Excluding interbank deposits
55%
45%
15 Q1
TL*
57%
45%
14 Q4
22.9%
23.0%
21.5%
29,431
21.6%
20.7%
20.6%
22.5%
22.7%
22.0%
34,683
23.7%
22.6%
22.6%
Share of Demand Deposits
24.7%
Demand Deposits (TL mn.)
2013
46%
50%
2014
2015
FX
16
Client Assets Under Management
… has reached a remarkable total of TL 176 billion.
Client Assets (TL mn.)
No. of Investment Accounts (000)
25.1%
175,880
160,427
154,092
162,036
83%
68%
63%
79%
9%
5%
7%
14%
13%
14%
5%
12%
4%
5%
6%
7%
5%
5%
19%
2011
Deposits
2012
2013
Fixed Income
2014
Mutual Funds
2015
Equities
10,062
11,392
11,422
11,479
2013
2014
2015
10,623
Off-Balance Sheet
76%
On-Balance Sheet
140,617
2011
2012
17
Sufficient Capitalization
Comfortable level of capital…
14 Q4
15 Q1
15 Q2
CAR
15 Q3
15 Q4
14 Q4
15 Q1
RWAs
Tier I Ratio
15 Q2
15 Q3
37,767
241,377
35,531
249,887
34,730
240,384
34,263
229,950
15.6%
14.2%
13.6% 14.9% 12.6% 14.5%
13.4%
12.2%
12.0%
35,255
16.0%
220,047
RWAs & Regulatory Capital (TL mn.)
Capital Adequacy Ratio
15 Q4
Regulatory Capital
Equity Growth
37,584
33,781
17,647
633
13,494
13.494
2009
19,420
1.499
17.014
17.921
2010
2011
Shareholders' Equity
25,075
2.356
26,991
5.554
• Capital adequacy ratio is well above the
regulatory limit.
4.470
3.412
22.719
23.579
2012
2013
29.311
32.035
2014
2015
Cash Dividends Reinvested at ROE
18
Income Statement Highlights (QoQ)
(TL mn.)
2015 Q3
2015 Q4
Δ QoQ
Net Interest Income
Net Fees & Commissions
Net Trading Gains/Losses
2,426
582
-573
2,463
663
-139
1.5%
13.8%
75.7%
Dividends Received
(*)
Released Provisions
Other Operating Income
Total Operating Income
Personnel Expenses
Other Operational Expenses
0
106
63
2,604
619
450
0
NM
275 161.0%
62
-1.7%
3,324 27.7%
665
7.5%
536 19.1%
Depreciation & Amortization
Other Expenses(*)
Total Operating Expenses
Operating Profit
Loan Loss Provisions
(*)
General and Other Provision Charges
Total Provision Charges
(Excluding Tax Provisions)
Tax Provisions
104
454
1,628
976
290
165
106
497
1,805
1,519
415
35
1.9%
9.4%
10.9%
55.6%
43.2%
-79.1%
455
449
-1.2%
142
186
30.3%
379
884 133.5%
Net Income
Operating Income Composition
NII
93.2%
Net Commissions
Other Income
22.4%
6.5%
-22.0%
19.9%
10.2%
-4.2%
2015 Q3
2015 Q4
Net Trading
Income
Allocation of Operating Income
14.5%
26.6%
22.9%
17.3%
23.8%
(*) See Appendix for non-recurring and other items on page 36
NM: Not meaningful
74.1%
19.1%
16.1%
20.0%
21.4%
18.1%
2015 Q3
2015 Q4
Net Profit
Total Provision
Charges
Adm. Expenses
Personnel
Expenses
Other Operating
Expenses
19
Income Statement Highlights (YoY)
(TL mn.)
2014
2015
Δ YoY
Net Interest Income
Net Fees & Commissions
Net Trading Gains/Losses
7,454
2,004
185
8,986
2,389
-869
20.5%
19.2%
NM
595
849
163
11,250
2,456
1,645
555
907
202
12,169
2,588
1,835
-6.7%
6.8%
23.9%
8.2%
5.4%
11.6%
Depreciation & Amortization
Other Expenses(*)
Total Operating Expenses
Operating Profit
Loan Loss Provisions
General and Other Provision Charges(*)
Total Provision Charges
(Excluding Tax Provisions)
Tax Provisions
341
1,254
5,695
5,554
915
409
394
1,511
6,327
5,842
1,415
643
15.4%
20.5%
11.1%
5.2%
54.8%
57.3%
1,323
2,058
55.5%
849
701
-17.4%
Net Income
3,382
3,083
-8.9%
Dividends Received
Released Provisions(*)
Other Operating Income
Total Operating Income
Personnel Expenses
Other Operational Expenses
(*) See Appendix for non-recurring and other items on page 36.
Operating Income Composition
NII
66.3%
73.8%
Net Commissions
Other Income
17.8%
19.6%
14.3%
13.7%
2014
2015
1.6%
-7.1%
Net Trading
Income
Allocation of Operating Income
30.1%
25.3%
19.3%
22.7%
14.6%
15.1%
21.8%
21.3%
14.2%
15.6%
2014
2015
Net Profit
Total Provision
Charges
Adm. Expenses
Personnel
Expenses
Other Operating
Expenses
20
Commissions Income Performance
Fees and Comm. Income (Net)
(TL thousand)
Non-Cash Loans
Cash Loans (*)
Mutual Fund Man. & Other
Inv. Acc. Fees
Credit Cards (Net)
Fund Transfer (Net)
Insurance
Account Keeping Fees
Other
Net Fees & Commissions
2014
2015
Gross Fees & Comm. Income (TL mn.)
∆YoY
290,456
221,370
386,810
288,030
33.2%
30.1%
165,771
193,250
16.6%
843,380
198,202
94,497
147,039
43,063
2,003,778
931,503
245,561
133,315
159,043
51,290
2,388,802
10.4%
23.9%
41.1%
8.2%
19.1%
19.2%
Composition of Net Comm. Income
25.5%
28.3%
8.3%
8.1%
42.1%
2014
(*) Includes refinancing fees
2015
2,335
2014
2015
Commission Income Coverage
Other
92.3%
81.6%
Mutual Fund Man. And
Other Inv.Acc.Fees
39.0%
24.7%
2,804
Lending Related Fees(*)
Credit Cards
24.1%
20.1%
37.8%
35.2%
2014
2015
Net Comm.Income/Operating Expenses
Net Comm.Income/Personnel Expenses
21
Margin & Spreads*
NIM (Cumulative)
3.85%
2014
TL Loan-Deposit Spread (Quarterly)
2015 Q3
(*) Based on MIS data
13.26%
7.49%
8.04%
2015
Loan Yield
Deposit Cost
3.80%
NIM (Quarterly)
3.91%
12.58%
5.09%
5.22%
2015 Q3
2015 Q4
TL Spread
FX Loan-Deposit Spread (Quarterly)
5.26%
4.85%
1.36%
1.26%
4.00%
2015 Q4
3.90%
3.59%
2015 Q3
2015 Q4
Loan Yield
Deposit Cost
FX Spread
22
Effective Cost Management
(2)
Cost / Income
50.6%
Cost vs. Income (TL mn.)
52.0%
12,169
11,250
47.0%
46.2%
6,327
5,695
2014
Cost / Income
2015
(1)
Cost / Income (Adjusted)
(1)Cost and income figures are adjusted for non-recurring and other items given in
Appendix on page 36.
Cost vs. Assets
2.56%
2.28%
2014
Cost/Av. Assets
2014
Cost
Income
2015
(2) Cost and income figures include non-recurring and other items given in Appendix
on page 36.
Cost Structure
2.41%
17.1%
4.9%
6.0%
19.2%
4.6%
6.2%
28.9%
29.0%
SDIF Fees
Depreciation
2.11%
2015
Other
43.1%
40.9%
2014
2015
Other Op.
Expenses
Personnel
Expenses
(3)
Cost/Av. Assets (Adjusted)
(3)Cost figures are adjusted for non-recurring and other items given in Appendix on
page 36. 2015 Asset figure is adjusted for fixed asset revaluation.
23
Profitability Ratios*
ROAA
ROAE
16.49%
15.16%
13.70%
13.15%
10.40%
1.99%
1.80%
1.64%
1.52%
1.17%
2011
2012
2013
ROAA
2014
2015
2011
2012
2013
2014
2015
ROAE
24
Stock Performance and Dividend Distribution
Market Capitalization (TL mn.)
Earnings & Payout Ratio
23.2%
20.3%
20.1%
3,310
2,982
30,381
20.7%
3,382
3,163
2,667
27,883
20,978
17.5%
20,747
14,963
2011
2012
2013
2014
2015
2010
2011
Net Profit
2012
2013
2014
(*)
Payout Ratio
* Dividend / Net Profit
25
Ratings
Rating*
Rating*
FC Issuer Credit
LC Issuer Credit
Turkish National Scale
BB+ / Negative / B
BB+ / Negative / B
trAA+ / trA-1
FC Issuer Default Rating
LC Issuer Default Rating
National Long Term Rating
Viability Rating
Support Rating
Support Rating Floor
BBB- / Stable / F3
BBB- / Stable / F3
AA+(tur) / Stable
bbb3
BB-
Rating*
FC Bank Deposit
LC Bank Deposit
FC Issuer
FC Subordinated Debt
FC/ LC MTN Rating
* Long term / Outlook (if exists) / Short term
Baa3 / Negative / P-3
Baa3 / Negative / P-3
Baa3 / Negative
Ba3
(P)Baa3 / (P)Baa3
26
Isbank at a Glance
3
Financial Highlights
7
Retail Banking
27
Major Equity Participations
30
27
Credit Card Business
• 44 different products for different customer segments
• 321,722 Maximum Sales Points and 331,285
chains are included in
loyalty programme.
• The number of
cards reached 10.1 million,
.6.8 million of which are issued to Bank’s own customers.
• Largest e-commerce acquirer in Turkey.
• Acceptance of Visa, Mastercard, American Express, JCB and
Union Pay branded cards.
• Merchant acquiring in UK, Iraq and Georgia besides Turkey.
• Issuing debit cards in Iraq, UK, Georgia and Kosovo besides
Turkey.
(TL million)
2014
2015
Change
Issuing Volume
61,275
72,250
18%
Issuing Volume Market Share
12.9%
13.3%
0,4 pp
Acquiring Volume
61,900
77,655
25%
Acquiring Volume Market Share
Balance
13.3%
10,106
14.5%
11,887
1,3 pp
18%
6,529
6,781
4%
252,658
238,813
-5%
Number of Credit Cards (000)
Number of P.O.S. Terminals
* According to Interbank Card Center data
28
Strong Retail Customer Base
… supported by payroll accounts and bill payment agreements.
Payroll Accounts*
Automated Bill Payments
33,879
31,706
33,442
29,242
6,264,709
2014
2015
Amount (TL mn)
2014
6,613,679
2015
Amount (TL mn)
Number of Active Payments
• Number of payroll accounts is 1,197,751 as of 31.12.2015.
• Automated bill payments and payroll accounts are important sources for low cost demand deposits.
• Payroll accounts create significant cross selling opportunities.
* Total amount of wages paid in the period
29
Isbank at a Glance
3
Financial Highlights
7
Retail Banking
27
Major Equity Participations
30
30
Isbank and Its Participations
… as one of the biggest conglomerates in Turkey.
Isbank
Core Business
Banking Services
Non-core Business
Financial Participations
Corporate Banking
Insurance
Commercial Banking
Private Pension
Retail Banking
Asset Management
Private Banking
Venture Capital
Capital Market
Operations
Investment Banking
Other Banking Services
REIT
Non-financial Participations
Glass
Others
Leasing & Factoring
Brokerage & Custody
31
A Diversified Equity Participation Portfolio
Sectoral Breakdown
Other
7.7%
Glass
41.9%
Banks
18.5%
Insurance
Non-Financial
49.6%
21.7%
Financial
50.4%
10.1%
Financial Ins.
• As of 31 December 2015, Isbank has 19
participations.
• Since 2002, a total of 41 participations has
been divested.
• Share of participations in total assets is 3.4%
as of the end of 2015 Q4.
Listed
79.9%
Non - Listed
20.1%
32
Glass
General Information
Market/Production Shares (%)*1
• A leading flat glass, glassware, glass
packaging, glass fibre, soda ash and
chromium chemicals producer in the
domestic market.
• Backed by its vision, Şişecam expands its
production operations into neighbouring
countries.
• 65.47% share of Şişecam is held by İşbank.
Flat Glass
Glassware
Glass Packaging
Soda Ash5
Chromium Chemicals6
Turkey
Europe2,3
World3
65.0
66.0
70.0
74.0
87.0
19.04
16.0
6.0
16.0
49.0
3.4
12.0
2.4
3.0
27.0
Financial Information (Con., IFRS)
USD (Million)
Total Assets
Shareholders’ Equity
Net Sales
International Sales 1
Gross Profit
EBITDA
2015/09
4,903
2,642
1,812
920
531
439
2014/12
5,337
3,128
2,971
1,478
809
590
1. Includes exports and sales from production abroad.
2. Market shares including Turkey. For Soda Ash, European market does
not include Russia and Ukraine.
3. Production/capacity shares
4. Closed flat glass lines of competitors in Europe are taken into account.
5. Soda ash is based on heavy soda ash and light soda ash in the domestic
market. Both European and World market shares include Refined Sodium
Bicarbonate as well. Soda ash sales within Turkey and BiH are considered in
European market share.
6. Chromium chemicals are based on Basic Chromium Sulphate.
*market share in production capacity as of 30.09.2015
33
Production Plants of Şişecam
Flat glass
Glassware
Glass packaging
Chemicals
The Group enlarges its business area by expanding its
operations to the fastest-growing countries in its region
34
List of Financial Participations…
Company Name
Field of Activity
Türkiye Sınai Kalkınma Bankası A.Ş.
Investment Bank
İşbank AG
Bank’s Direct
Share(%)
Risk Group
Share (%)
Assets (USD
000) (3)
Shareholders’
Market
Equity
(3)
(3) Share (%)
(USD 000)
Basis for Market Share
40.52
50.00
7,011,741
782,664
19.2
Banking
100.00
100.00
1,220,005
153,018
N/A
JSC İşbank (Russia)
Banking
100.00
100.00
361,553
86,670
0,79
JSC Isbank Georgia
Banking
100.00
100.00
85,104
13,361
0,03
Anadolu Anonim Türk Sigorta Şirketi
Insurance
-
64.31
1,492,289
375,766
13.5
Anadolu Hayat Emeklilik A.Ş.
Life Insurance &
Private Pension
62.00
83.00
3,786,657
243,915
Milli Reasürans T.A.Ş.
Reinsurance
76.64
77.06
872,239
386,779
11.1 (2)
İş Yatırım Menkul Değerler A.Ş. (4)
Brokerage House
65.65
70.69
1,904,817
301,647
7.1
Transaction Volume
Yatırım Finansman Menkul Değerler A.Ş. (4)
Brokerage House
-
98.42
228,672
24,780
1.6
Transaction Volume
İş Yatırım Ortaklığı A.Ş.
Trust Company
-
38.66
77,583
77,443
53.0
NAV
İş Portföy Yönetimi A.Ş.
Portfolio Mngt.
-
100.00
29,251
28,143
21.0
Funds Under Management
İş Finansal Kiralama A.Ş. (4)
Leasing
27.79
57.39
1,793,285
235,921
7.7
Transaction Volume
İş Faktoring A.Ş.
Factoring
100.00
503,559
31,940
5.4
Transaction Volume
İş Gayrimenkul Yatırım Ortaklığı A.Ş.
REIT
42.23
58.04
1,283,828
846,079
5.1
Market Value
İş Girişim Sermayesi Yatırım Ortaklığı A.Ş.
Risk Venture
-
57.67
87,726
86,738
-
20,738,309
3,674,864
TOTAL
-
Total Assets
Premium Income
Private Pension Funds Under
Management / Life Premium
Income
18.9/
10.9 (1)
Premium Income
(1) ) As of 30.09.2015; total amount of funds (including state contribution) managed within private pension system is TL44.2 billion while Anadolu Hayat Emeklilik accounts
for 18.9% of this figure. The company’s market share in life insurance market is 10.9% as of the same date.
(2) Milli Reasürans T.A.Ş. is the sole Turkish reinsurance company operating in Turkish insurance sector with a market share of 11%. The rest 89% is shared by foreign
reinsurance companies.
(3) As of 30.09.2015
(4) Consolidated amount
35
Appendix – Non-recurring and Other Items
(TL mn.)
2014 Q4 2015 Q1 2015 Q2 2015 Q3 2015 Q4
2015
2014
Released Provisions
Provision reversals related to the asset sales
261
Reversal of provisions set aside for the tax disputes
207
207
Released Provisions
200
200
Other Expenses
Loss on the asset sales
154
154
267
Provisions for tax disputes
19
7
10
10
12
39
114
Expenses related with fee returns
60
61
76
55
50
242
118
Provision for administrative fine
Additional provision for pension fund
83
123
83
277
277
123
General & Other Provision Charges
Free provision charges
Reversal of free provision expenses
200
100
200
36
Disclaimer Statement
The information in this document has been obtained by Turkiye Is Bankasi A.S. (“Isbank”) from sources believed
to be reliable, however, Isbank cannot guarantee the accuracy, completeness , or correctness of such information.
This document has been issued for information purposes only. The financial reports and statements announced
by Isbank to the public and the relevant corporations are accepted to be the sole material. Isbank does not
accept any liability whatsoever for any direct or consequential loss arising from any use of this document or its
contents due to the misleading information in this document. All estimations contained in this document are the
opinions of Isbank and can be subject to change without notice. This document can not be interpreted as an
advice to the investors and Isbank can not be held responsible for the results of investment decisions made on
account of this document. This document has been issued specially to the person, whom the document is
concerned and may not be reproduced, distributed or shared with third parties for any purpose.
37
Investor Relations Contact Details
Süleyman H. Özcan
Head of Investor Relations Division
Phone : + 90 212 316 16 02
E-mail : Suleyman.Ozcan@isbank.com.tr
Alper Turgal
Unit Manager of Investor Relations Division
Phone : + 90 212 316 16 10
E-mail : Alper.Turgal@isbank.com.tr
38