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- 1. Hyundai Cardis...Investor Presentation Hyundai Card2012
- 2. DisclaimerThese presentation materials have been prepared by
Hyundai Card Co., Ltd. (HCC or the Company), solely for the use
atthis presentation and have not been independently verified. No
representations or warranties, express or implied, are madeas to,
and no reliance should be placed on, the accuracy, fairness or
completeness of the information presented or containedin this
presentation. Neither the Company nor any of its affiliates,
advisers or representatives accepts any responsibilitywhatsoever
for any loss or damage arising from any information presented or
contained in this presentation. The informationpresented or
contained in this presentation is current as of the date hereof and
is subject to change without notice and its accuracy is not
guaranteed.Neither the Company nor any of its affiliates, advisers
or representatives make any undertaking to update any such
information subsequent to thedate hereof. This presentation should
not be construed as legal, tax, investment or other advice.Certain
information and statements made in this presentation contain
forward-looking statements. Such forward-looking statements can
beidentified by the use of forward-looking terminology such as
anticipate, believe, considering, depends, estimate, expect,intend,
plan, planning, planned, project, trend, and similar expressions.
All forward-looking statements are the Companyscurrent expectation
of future events and are subject to a number of factors that could
cause actual results to differ materially from those described
inthe forward-looking statements. Caution should be taken with
respect to such statements and you should not place undue reliance
on any suchforward-looking statements.Certain industry and market
data in this presentation was obtained from various trade
associations, and the Companys have not verified such datawith
independent sources. Accordingly, the Companys make no
representations as to the accuracy or completeness of that data,
and such datainvolves risks and uncertainties and is subject to
change based on various factors.This presentation does not
constitute an offer or invitation to purchase or subscribe for any
shares or other securities of the Companys and neitherany part of
this presentation nor any information or statement contained
therein shall form the basis of or be relied upon in connection
with anycontract or commitment whatsoever. Any decision to purchase
shares in any offering of shares of the Companys should be made
solely on thebasis of the information contained in the offering
document which may be published or distributed in due course in
connection with any offering ofshares of the Companys, if any.The
contents of this presentation may not be reproduced, redistributed
or passed on, directly or indirectly, to any other person or
published, in wholeor in part, for any purpose.
- 3. Key Highlights 2012 1 Solid profitability : 20122,333ROA2.0
Effective marketing : Excellent asset quality : 300.7 Sound capital
structure :5.119.6 Strong liquidity :65.5
- 4. Resilient GDP Growth and Increasing Credit Card Usage 2&
*& * () / 3.6% 65.3% 3.5% 3.2% 59.6% 3.0% 2.9% 56.8% 52.8%
49.7% 390.2 6.1% 350.7 303.9 279.3 3.6% 219.30 2.2% 2.0% 0.2% 2008
2009 2010 2011 2012 2008 2009 2010 2011 1H12Source: * Source: the
Credit Finance Association,
- 5. Balanced-risk Asset Portfolio and Consistent Market Share
3() * 98,976 (*) 95,630 91,861 23.4% 21.0% 21.6% 15.7% 15.7% 15.5%
15.4% 71,361 10.6% 9.5% 15.0% 12.6% 13.8% 56,161 14.1% 14.3% 14.4%
10.7% 22.3% 14.5% 25.4% 25.0% 13.1% 12.6% 25.8% 11.2% 28.9% 42.8%
44.4% 48.5% 40.7% 44.0% 2008 2009 2010 2011 2012 2008 2009 2010
2011 3Q12 * Source: FISIS
- 6. Good Profitability Underscores Strong Fundamentals 4 ()
Return on Equity & Return on Assets ROE ROA 2009 2010 2011 2012
YoY 17.6% 16.7% 15.1% 18,408 23,369 24,083 25,256 4.9% 12.6% 9.0%
3.9%() 17,948 22,603 23,696 24,598 3.8% 3.5% 3.5% 2.6% 2.0% 15,546
19,660 20,841 22,924 10.0% 2008 2009 2010 2011 2012( 15,085 18,895
20,454 22,266 8.9% Key Highlights 1,126 1,847 2,001 2,030 1.4%
2,863 3,708 3,236 2,333 -28.0% - MDR - 2,128 2,781 2,386 1,913
-19.8%
- 7. Excellent Asset Quality and Conservative Reserve Policy 530
() ()/) 199.1% 174.1% 143.3% 123.9% 127.7% 3,779 3,714 2,041 1,906
0.7% 0.7% 0.6% 0.3% 0.4% 1,886 226 1,738 2,134 1,660 1,348 1,415
1,898 1,808 1,477 941 1,143 2008 2009 2010 2011 2012 2008 2009 2010
2011 2012
- 8. Leverage and Capital Adequacy Soundly Managed 6Leverage ) /
/ 23.5% 22.5% 18.7% 19.6% 19.6% 6.0x 5.4x 4.9x 5.1x 4.6x 4.4x
19,000 18,433 18,450 3.5x 16,989 3.5x 3.2x 3.2x 14,063 2008 2009
2010 2011 2012 2008 2009 2010 2011 2012
- 9. Well Diversified, Stable Funding Portfolio 7Funding
Portfolio by Product Funding Principles ABS ABS20CP10 12.7% CP 4.9%
Loans 1.9% Bonds 100 80.4% 7729 67.3%
- 10. Strong Liquidity Position and Well-Spread Debt Maturity 8 (
() * Bond CP Loan ABS 26.1% 25.2% 79.0% 18,430 17,809 65.5% 2,984
4,500 32.7% 36.7% 17.7% 625 18.6% 15,837 12,525 15,143 15.0% 525
10,586 11,478 3,500 8,407 1,492 8,242 10.2% 225 7,200 4,978 14,200
13,930 5.9% 4,800 4,180 4,110 8,500 8,869 1,200 200 7,200 7,430
6,900 6,500 4,180 3,600 3,910 2008 2009 2010 2011 2012 1H13 2H13
2014 2015 2016 2017~ * Source: Company = ( +)/ 1
- 11. Hyundai CardCompany OverviewInvestor Presentation Hyundai
Card2012
- 12. I. Who is Hyundai Card?
- 13. The Premier Korean Credit Card Company 9 () - 300.7 -182 -
- GE -(Committee) -GE -Fitch-BBB/S&P-BBB -AA+
- 14. Shareholder Financial & Operational Support 102 GE
Capital - 2012 - 2012127,248 - - 54.0% 2010 - GE2 - 2008 -
20062008BW - () - - - GE 2006 1,653 2005 - GE Capital2,00043.3% - -
GEJV - - - GE Capital3,130 43
- 15. Management Strategy 11
- 16. Committed to Transparent Corporate Governance 12 Board of
Directors HMC5GECC1 6 GECC Risk Control Committee Executive Finance
Committee Compliance Review Board HMC4GECC3 HMC9GECC7 HMC5GECC5 - -
- GE GE BPS(Best Practice Sharing)
- 17. Product Overview & Market Share 13 Business Area
Features () 15.7% 15.7% 15.5% 15.4% 13.8% 12.8% 212 14.1% 14.3%
14.4% 11.8% 13.1% 9.8% 11.2% 10.1% 336 8.8% 7.0% ( 2005 2006 2007
2008 2009 2010 2011 3Q12 ) * Source: FISIS
- 18. II. Premium Brand & Marketing
- 19. One of Koreas Most Well Recognized & Respected Brands
14Strong Brand Drives Higher Customer Loyalty Innovative Branding
Activities Strategy: Innovative Experience - - Emotional
Communication Classic Dynamic - - Result: - - ()() *88.1% (Source:
TNS RI Research 2011)
- 20. Effective Market Segmentation & Positioning 15Customer
Segmentation Product Positioning - M Lifestyle - - Income Level
Exclusivity - -
- 21. III. Macro & IndustryEnvironment
- 22. Koreas Macro Environment 16& *& * () / 4.7% 65.3%
4.0% 59.6% 3.0% 56.8% 2.8% 52.8% 2.2% 49.7% 390.2 6.1% 350.7 303.9
279.3 3.6% 219.3 2.2% 2.0% 0.2% 2008 2009 2010 2011 2012 2008 2009
2010 2011 1H12Source: * Source: the Credit Finance Association
- 23. Korean Credit Card Market Features 17 - - - Credit Scoring
System - 65 -
- 24. Korea Credit Card Industry: Then & Now 18 30 34.3%
64.9% 28.3% 65.7% 35.1% 2.0% 2003 3Q12 2003 3Q12 - 26.7% - -8 -5.5%
-/6201212 2003 3Q12 Source:
- 25. IV. Asset Portfolio &Performance
- 26. Balanced Asset Portfolio of Credit and Financial Products
19() 98,976 95,630 91,861 23.4% 21.0% 21.6% 71,361 10.6% 9.5% 15.0%
12.6% 56,180 10.7% 22.3% 14.5% 25.4% 45,066 25.0% 12.6% 25.8% 13.5%
35,078 29,899 12.3% 7.9% 28.9% 5.0% 11.9% 23.5% 14.4% 19.0% 42.8%
44.4% 12.2% 48.5% 40.7% 50.6% 44.0% 63.6% 58.5% 2005 2006 2007 2008
2009 2010 2011 2012
- 27. Best in Class Risk Management 20Strong governance for risk
monitoring Risk Control Committee (RCC) - RCC - CRP(Credit Review
Point) Risk Appetite Management PQR(Portfolio Quality Review)
Stress Test & Contingency Planning
- 28. Historical Asset Quality 2130 4.3% 2.2% 0.7% 0.7% 0.4% 0.6%
0.4% 0.3% 2005 2006 2007 2008 2009 2010 2011 2012
- 29. Historical Reserve & FSS Requirement Coverage Ratio
22() / 200.4% 199.1% 178.1% 174.1% 143.3% 123.9% 127.7% 111.4%
3,779 3,714 2,041 1,906 1,886 226 2,134 1348 1,898 1,738 1,808
1,578 1,660 1,477 1,392 1,250 1,415 1,040 941 1,143 886 519 2005
2006 2007 2008 2009 2010 2011 2012 K-GAAP K-IFRS
- 30. Sustainable Growth Based on Strong Fundamentals 23() K-GAAP
K-IFRS 2006 2007 2008 2009 2010 2011 2012 YoY 11,095 11,213 15,943
18,408 23,369 24,083 25,256 4.9% () 11,067 11,130 14,438 17,948
22,603 23,696 24,598 3.8% 8,093 10,486 13,365 15,546 19,660 20,841
22,924 10.0% () 8,065 10,403 11,860 15,085 18,895 20,454 22,266
8.9% 3,137 3,803 5,056 7,299 8,631 9,239 10,437 13.0% 1,134 1,390
1,868 2,205 3,185 3,574 3,434 -3.9% 2,454 2,955 3,669 3,977 4,841
5,384 6,100 13.3% PPOP 3,949 2,568 3,574 4,409 5,696 5,248 4,362
-17.0% 947 423 1,025 1,126 1,847 2,001 2,030 1.4% 0 1,418 -28 420
141 11 0 -100.0% 3,002 727 2,578 2,863 3,708 3,236 2,333 -28.0% ROA
8.9% 6.0% 3.9% 3.5% 3.5% 2.6% 2.0% - ROE 34.6% 23.9% 16.7% 15.1%
17.6% 12.6% 9.0% - 3,063 1,086 2,715 2,945 3,708 3,236 2,325 -28.2%
2,810 2,344 2,022 2,128 2,781 2,386 1,913 -19.8%
- 31. V. Capitalization, Funding& Liquidity
- 32. Strong Capital Structure 24() 31.3% 28.4% 23.5% 22.5% 18.7%
19.6% 19.6% 12.4% 16,989 18,433 18,647 19,000 14,063 13,059 10,801
3,826 2005 2006 2007 2008 2009 2010 2011 2012
- 33. Well Controlled Leverage 25Leverage / / 12.3x11.3x 6.0x
5.4x 5.1x 4.6x 4.9x 4.1x 4.1x 4.4x 3.5x 3.5x 3.2x 3.2x 2.6x 2.6x
2005 2006 2007 2008 2009 2010 2011 2012
- 34. Diversification of Funding Portfolio over Time 26 () ABS
ABS CP 71,968 70,674 70,729 9.2% 6.9% 4.9% 1.9% 10.1% 6.3% 12.7%
51,649 4.6% 11.0% 39,799 6.4% 7.7% 14.1% 29,327 11.0% 80.2% 26,645
8.3% 83.6% 14.8% 10.1% 73.2% 22.9% 21,985 13.6% 15.1% 9.3% 18.8%
19.5% 15.9% 61.8% 49.6% 50.1% 59.4% 47.3% 2005 2006 2007 2008 2009
2010 2011 2012 50.5% 50.5% 62.6% 63.1% 57.3% 56.5% 71.6% 67.3%
- 35. Substantial Improvement in Liquidity Position 27) * 79.0%
65.5% 36.7% 32.7% 27.3% 18.6% 15,837 13.1% 15,143 4.9% 11,478 8,407
8,242 4,978 4,800 4,110 2,990 1,200 200 7,430 6,900 6,500 1,427
1,500 646 3,600 3,910 1,427 1,490 646 2005 2006 2007 2008 2009 2010
2011 2012 * = ( +)/ 1
- 36. Investor Relations ContactsJungsang Kim, Head of Investor
Relations Minchul Seo, Deputy General Manager of Investor
RelationsPhone +82 2 2167 7034 Phone +82 2 2167
7051jungsang.kim@hyundaicard.com mcseo@hyundaicapital.comJay Moon,
Manager of Investor RelationsPhone + 82 2 2167
5312jay.moon@hyundaicard.comhttp://ir.hyundaicard.com/