Embed Size (px)
Citation preview
3Q17Investor Presentation
Albaraka Türk Participation Bank03 November 2017
Agenda
1 Introduction
2 Financial Highlights
Appendix
4
3Market Comparison
Turkey Macroeconomic Developments
Turkey still serves many advantages for investors
Source: IMF, UN, TURKSTAT, Albaraka Turk Research&Strategy
27 32 37 42 47
TurkeyBrazilChina
USARussia
PolandUK
EuropeNetherlands
GreeceSwitzerland
GermanyJapan
Median Age
Following failed coup attempt on July 2016, Turkish economy has been
gaining momentum thanks to strong expansionary fiscal measures and
macroprudential easing incentives as well as strong fundamentals.
GDP growth rate estimates have been continuously revised upwards.
Despite a challenging global and geopolitical issues, Turkey’s strong
macrofundemantals still serve great advantages for its investors
compared to its peer countries thanks to young population, well-
capitalized banking sector and existing cheap valuations.
The Government has focused an stimulating domestic demand while
trying to pick contribution of net external demand to GDP growth rate
up via implementing crucial structural reforms.
As a result, Turkey’s total debt to GDP ratio is likely to increase
moderately due to widening in budget deficit, although it still remains
significantly below than the peers.
1,18
1.68
1,1
1,3
1,5
1,7
1,9
19
80
19
83
19
86
19
89
19
92
19
95
19
98
20
01
20
04
20
07
20
10
20
13
20
16
20
19
F
Turkey’s share within the world GDP (PPP, %)
105%
48%
28%
20%
50%
80%
110%
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
F2
01
8F
20
19
F2
02
0F
Government Debt Stock/GDP
Advanced economies Emerging economies
Turkey
4
-18%-16%-15%
-13%-12%
-11%-11%
-5%2%3%3%
8%10%
13%18%
-20% -10% 0% 10% 20%
JapanMexicoTurkey
ColombiaUK
South AfricaMalaysia
Euro areaIndonesia
BrazilUSAIndiaUAE
Saudi ArabiaChina
4,8% 4,9%
-0,8%
4,2%
5,2% 5,1%
Q1 Q2 Q3 Q4
YoY GDP Growth Rates
2016 2017
Robust Growth and Attractive Valuations
5
Source: TURKSTAT, WTO, BIS, Albaraka Turk Research&Strategy
Turkish economy continues to record one of the strongest growth among
G20 countries, with 5.0% (YoY) growth in the first half thanks to strong
domestic demand, acceleration in public spending and double-digit increase
in exports. Moreover, early indicators for the rest of the year are pointing
further acceleration in the economy and to potentially converge 6%
throughout 2017.
As a result of the Transition Program to Sustainable Growth, which was
implemented starting from the end of 2010, Turkey’s exports share within
the world reached its record level in 2017.
Under current circumstances, main challenge for Turkish economy is pulling
inflation to low-single digit levels again. Year-on-year inflation was 11.2% in
September and market expects a volatile path around 10% during the rest
of the year, due to high food prices and a weakening Lira
Looking ahead, considering sustainable current account deficit path,
significantly undervalued TL and prevailing emerging market friendly
environment, TL denominated assets are expected to diverge positively
from its peers.
REER (Deviation from 15 Year Av. as of Sept. ‘17)
Undervalued
Overvalued
0,80%
0,97%
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
Turkey’s Exports Share Within The World
Turkey Macroeconomic Developments
9,22%8,78%
7,46%6,57% 6,58%
7,64%
8,79%
8,05%7,28% 7,16% 7,00%
8,53%9,58%
10,53%11,29%
11,87%
11,72%10,90%
9,79%10,68%
11,20%
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.
Inflation
2016 2017
6
GDP Growth
GDP growth was 5.1% y-o-y in 2Q2017 and this is mainly due to a pick up in domestic
demand. Investment expenditures made the highest contribution to growth with 2.9
points in the second quarter. Increases in export growth and construction investment
also impacted economic growth positively. Moving forward, MTP target for 2017 year-
end GDP growth is 5.5% y-o-y due to the strong expectation for the receding of
uncertainty, resiliency in public consumption and further strengthening in economic
activity driven by a recovery in tourism. First quarter growth, which was previously
announced as 5%, was revised up to 5.2%. Hence, growth rate of the first half of the
year stood at 5.1% yoy. 2016 growth was also revised up to 3.2% from 2.9%.
3,6%
7,2%
5,8%
7,5%
4,8% 4,9%
-0,8%
4,2%
5,2% 5,1%
Q1 Q2 Q3 Q4
GDP Growth
2015 2016 2017
Inflation
Annual inflation Increased from 9.79% to 11,20% from July to September. The
deterioration in core inflation indicators continued in September. Among the main
expenditure groups, only food prices, which have the highest weight in CPI basket,
declined on a monthly basis in September. As was the case in both June and July,
clothing and food prices became the main expenditure groups that pulled the inflation
down in August. Inflation is expected to stay in the high single digits with the Central
Bank expecting a year-end inflation of 9.5%.
Source: CBRT, Turkstat
Turkish Lira
The Turkish lira depreciated 1.0% versus the USD in the third quarter and 4,3 %
depreciated against the EURO; Lira appreciation continued after first quarter mainly
due to further tightining monetary stance of the central bank, domestic political
developments after referandum in April and also USD depreciation. The euro, on the
other hand, found support for the declining uncertainties about the future of the EU.
USD/TRY has been lingering near 3.54 level and EURO/TRY is also at 4.20 level at the
end of September. 2,4
2,9
3,4
3,9
4,4
Jan-16 May-16 Sep-16 Jan-17 May-17 Sep-17
FX Rates
USD/TRY
EUR/TRY
Turkey Macroeconomic Developments
7
Central Bank Monetary Policy
The Central Bank maintains its tight monetary policy stance and continues to keep its
main policy rate window, the weekly repo shut. The O/N lending window and the
O/N borrowing have remained as is since 1Q2017. The Late liquidity window rate was
last increased from 11.75% to 12.25% (+50bps) in April. The rate hike decision of the
CB is linked to the deteriorating Lira movement in addition to the worsening core
inflation outlook.
Rates (%) Q3’16 Q4’16 Q2’17 Q3’17
Overnight borrowing rate 7.25 7.25 7.25 7.25
One-week repo (policy) rate 7.50 8.00 8.00 8.00
Overnight lending rate 8,50 8.50 9.25 9.25
Late liquidity window rate 9,75 10.00 12.25 12.25
Foreign Trade and Current Account Balance
In September, exports increased by 8,7% and imports increased by 30,6% compared to
the same month of the previous year, which resulted in the foreign trade deficit
expanding by 27.9% y-o-y to USD 53.8 bio in 3Q17. Exports of motor vehicles and boilers
and machineries were the main drivers of the growth in exports in September. Other
than the strong pace of gold imports, energy imports pulled the foreign trade deficit
up.
Current account deficit came in below market expectations with 1.2 billion USD in
August. The deficit was 1.4 billion USD in the same month of last year. While the
expansion in foreign trade deficit pushed the deficit up, the recovery in tourism
revenues played an important role in positive performance of the current account
balance. The recovery in tourism revenues continued in August. In this period, tourism
revenues picked up by 29.2% yoy to 3.4 billion USD, the highest figures in the last two
years
-12,1
-15,9-14,0 -13,9
-12,5
-18,4
-23,0
-7,8
-11,2 -5,4
-8,1
-8
-12,9
-6,38
Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
Foreign Trade Balance Current Account Balance
Balances (billion USD)
Budget Balance
In June, budget expenditures increased by 2,6% compared to the same month of the
previous year. while budget revenues climbed by 32.9% yoy. On the other hand, budget
revenues decreased by 0.3% yoy due to the base effect stemming from the high level of
privatization revenues in June last year. Thus, central government budget deficit which
was 7.9 billion TRY in June 2016 became 13.7 billion TRY in the same month of this
year.
In the first half of the year, budget expenditures expanded by 18.5% compared to the
last year. In this period, the increase in budget revenues was recorded as 8.8%. Hence,
the budget, which posted 1.1 billion TRY surplus in the first six months of the year, gave
a deficit of 25.2 billion TRY in the same period of 2017
Budget Balance (billion TRY)
Source: CBRT, Turkstat, Ministry of Finance
0,01,1
-12,0
-29,3
-14,9
-25,2
-31,6
Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
Aug.
Turkey Banking Sector
vs Participation Banking Sector
Banking Sector vs Participation Banking Sector
In 3Q 2017 the total assets of the banking sector rose 11,83%
compared to end of 2016.
Year to Date, loan growth rate reached 14,8% while NPL
amount increased by 8,0%.
Loan growth is stronger than in previous years owing to
expansionary fiscal policies in place and macroprudential
policies supportive of the financial system (ex: Credit
Guarantee Fund).
Net Profit rose 28,04% compared to 3Q’2017
Banking Sector highlights
The sector continued to grow in asset and profitability
terms during Q3 2017. Participation banking rose 11,67%
Ytd. With regards to asset growth
Capital Adequacy figures increased from 16.17% to 17,25%
in the 9 Months ended 2017
Strong net profit increase, 31,1 % yoy
Number of total branches increased to 1001 at the end of
2017 Q3
Participation Banking highlights
Key Financial Indicators(mn TRL)
3Q’16 Q4’16 3Q’17 Y-Y (%) Ytd. (%)
Total Assets 2.533.733 2.730.942 3.053.882 20,53% 11,83%
Loans* 1.670.955 1.804.711 2.072.151 24,01% 14,82%
Deposits 1.425.368 1.547.551 1.723.113 20,89% 11,34%
Shareholder’s
Equity292.767 300.172 344.968 17,83% 14,92%
Total revenues 178.208 - 218.151 22,41% -
Net profits 29.038 - 37.180 28,04% -
Key Financial Indicators(mn TRL)
3Q’16 Q4’16 3Q’17 Y-Y (%) Ytd. (%)
Total Assets 120.070 132.874 148.377 23,58% 11,67%
Loans* 82.047 88.483 102.562 25,00% 15,91%
Deposits 74.178 84.785 99.883 34,65% 17,81%
Shareholder’s
Equity11.360 11.494 13.198 16,18% 14,83%
Total revenues 7.650 - 9.260 21,05% -
Net profits 889 - 1.165 31,05% -
*Financial leasing receivables included.
9
*Financial leasing receivables included.
Agenda
1 Introduction
2 Financial Highlights
Appendix
4
3Market Comparison
Albaraka Türk 3Q 2017 – Key Financial
Highlights
6Albaraka Turk – 1H Main Highlights (Balance Sheet)
TRL millionQ3’16 Q4’16 Q4’17 Y-Y (%) Ytd. (%)
Total Assets 28.633 32.851 33.827 18,14% 2.97%
Total Funded Credits20.331 22.722 23.711 16,62% 4.35%
Deposits 20.109 23.151 24.109 19,89% 4,14%
Shareholder’s Equity 2.221 2.280 2.383 7,29% 4,54%
28.633
32.851 33.02134.217 33.827
20.33122.722 22.892 22.876 23.71120.109
23.151 23.66823.771
24.109
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
Total Assets Total Funded Credits Total Collected Funds
Funded Credits;
70%
Securities Portfolio;
8%
Liquid Assets*;
19%
Other Assets; 2%
Asset Segmentation (Q3’17)
12
*
**Liquid Assets includes Cash and Balances with the Central Bank, Financial Assets at
Fair Value Through Profit and Loss(net) and Banks
6Albaraka Turk – Q3 Main Highlights (Income Statement)
TRL million (Quarterly) Q3’16 Q2’17 Q3’17 Y-Y (%) Q-Q (%)
Profit Share Income 541 655 610 12,8 -6,9
Net Profit Share Income 243 321 262 7,8 -18,4
Total Operating Profits 315 417 327 3,8 -21,6
Net Operating Profits 143 213 137 -4,2 -35,7
Tax Provision 10 20 3 -70,0 -85,0
Provisions 83 96 124 49,4 29,2
Net Profit 50 96 10 -80,0 -89,6
243
322
262
Q3'16 Q2'17 Q3'17
Net Profit Share Income
50
96
10
Q3'16 Q2'17 Q3'17
Net Profit
4,184,14
4,17
4,32
4,21
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
Net Profit Share Margin*
7,8%
-80%
* Trailing for last four quarters
13
7.4548.0857.1627.2235.7486.3776.270
22,04%23,63%21,69%21,99%
20,08%21,72%21,76%
Q3'17Q2'17Q1'17Q4'16Q3'16Q2'16Q1'16
Q3'17Q2'17Q1'17Q4'16Q3'16Q2'16Q1'16
Liquid Assets % of Total Assets
7Albaraka Turk - Asset Composition
Funded Credits; 70%
Securities Portfolio; 8%
Liquid Assets*; 19%
Other Assets; 2%
Composition of Total Assets (TRL mn) Liquid Assets (TRL mn)
14
*Liquid Assets includes Cash and Balances with the Central Bank and Banks
1.251 1.383 1.4281.649
1.330
580669 612
625
509
556
977
988
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
Available for sale Held to Maturity Other
1.831
Total Securities Portfolio (TRL mn) Securities Yield (%)
9,22
9,62
8,84
8,398,40
Q3'17Q2'17Q1'17Q4'16Q3'16
(*) Profit share income received from securities for the last 4Q/4Q average securities
2.052
2.597
3.251
2.747
3Q'16 Net ProfitShare Inc.
Fees &Comm
TradingIncome
Others 1H'17
996
6Albaraka Turk - Operating Performance Breakdown
Income (million TRL)
541 655 610
-298 -334 -348
Profit Share Expense Profit Share Income
Net Profit Share Income (million TRL)
Key Movements in Net Operating Income
(million TRL)
Yield Movement (%)
9,95%9,82% 9,73% 9,90% 9,82%
4,18% 4,14% 4,17%4,32%
4,21%
5,52% 5,36% 5,21% 5,25%5,30%
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
Credit YieldNet Profit Share marginCost of Funding
86,00% 85,23%88,15%
14,00% 14,77%11,85%
Q3'16 Q2'17 Q3'17
Fees, commission and others Profit Share Income
692769629
Q3’16 Q2’16 Q3’17
243321 262
15
1122-3-26+4+145
Total Profit Share Income up 16%
Profit Share Expense increased
13,4%
Net Profit Share Income increased
19,1%
Net Trading Income declined 49,9%
Total Operating Profit increased
12,7%
Provisions increased 58% in 1H 2017
Net Profits decreased 21,1% in 1H
2017
Highlights 3Q’17
9,82
9,91
9,73
9,82
9,95
Q3'17Q2'17Q1'17Q4'16Q3'16
*USD equivalent of total funded credits
Total Funded Credits (including financial leasing, million)
QoQ Growth: 3,7% in TRL terms YoY growth: 16,6% in TRL terms
20.331
22.722 22.892 22.876 23.711
6.795 6.474 6.306 6.514 6.681
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
TRL USD*
Credit Yields(1) (%)
(1) Profit share income received from credits for the last 4Q/4Q average credits
Albaraka Turk - Funded Credits Portfolio
Q3’16 Q4’16 Q1’17 Q2’17 Q3’17
Corporate Credits 41,9 41,9 41,6 40,8 40,4
SME Credits 43,5 43,9 43,6 44,6 45,4
Retail Credits 14,6 14,2 14,8 14,6 14,2
Total 100.0 100.0 100.0 100.0 100.0
TRL52,4%
USD*32,9%
EUR*14,6%
Composition of Total Funded Credits* (%) Currency Composition of Total Funded Credits* (Q3’17)
*Including USD & EUR indexed credits*According to BRSA definition
16
49,452,3 51,9
54,6 55,3
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
4,75
5,616,02
5,36
Q4'16 Q1'17 Q2'17 Q3'17
941
1.106
13231424
1309
465578
687778
725
932
1.106
13231424
1318
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
NPL Spesific Provisions Collateral
Non-performing Loans (TRL million)
122
147
172189 193
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
Cost of Risk** (bps)
NPL Ratio*
** Specific provisions for credits for last 4Q/ 4Q average credits
*Including financial leasing & accruals and rediscounts
Provisioning Ratio (%)
Albaraka Turk - Asset Quality
17
21% 22% 20% 22% 21%
16% 18% 19% 19% 20%
63% 60% 61% 59% 59%
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
Fund Borrowed* Current Accounts Participation accounts
Composition of Total Liabilities (Q3’17, %) Composition of Funding Base (TRL million)
71
19
73
Funds Collected
Wholesale Funding
Shareholders' Equity
Others
25.394
20,1%
29.583 29.548
Albaraka Turk - Funding Profile
18
*Fund Borrowed includes Funds Borrowed , Borrowings from Money Market
and Subordinated Loans
30.448 30.501
5,30%5,25%5,21%5,26%
5,47%
8,19%8,00%7,90%8,10%
8,30%
1,79%1,76%1,69%1,61%
1,63%0,93%0,82%
0,80%1,08%
1,84%
Q3'17Q2'17Q1'17Q4'16Q3'16
Average TL FC Precious Metal
20.109
23.155 23.668 23.771 24.109
6.721 6.597 6.520 6.768 6.793
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
TRL USD*
Total Funds Collected (TRL million)
Cost of Funds Collected**
*USD equivalent of total collected funds
**Profit share expense to depositors for the last 4Q/4Q average participation accounts
53
30
143
TRL USD EUR Others
Currency Composition of Funds Collected (Q3’17, %)
Maturity Composition of Funds Collected (Q3’17, %)
25
22
45
30 5Current Acc.
Up to 1 month
Up to 3 months
Up to 6 months
Up to 1 year
>1year
19,9%
Albaraka Turk - Funding Profile (Collected Funds)
19
Off Balance Sheet Composition (%)
71 71 72 71 71
5 7 7 8 9
24 22 21 21 20
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
LG LC Others
LGs*-to-Total Assets
27,1%
23,8%23,0%
20,8%
19,7%
Q3'16 Q4'16 Q1'17 Q2'17 Q3'17
Off Balance Sheet (TRL million)
*Revocable credit limits not included.
Q3’16 Q4’16 Q1’17 Q2’17 Q3’17
Growth (%)
Y-Y YtD
Letter of Guarantee 7.746 7.810 7.593 7.129 6.657 -14,06 -12,33
Letter of Credit 583 753 714 803 860 47,51 20,45
Others* 2.648 2.389 2.169 2.193 3.082 16,39 42,42
Total: 10.977 10.951 10.476 10.234 10.676 -2,74 -1,91
Albaraka Turk - Off balance sheet growth
20
*Below 20% of LGs to Total Risk is targeted
14
(000 TRL)
Year on Year Change Quarterly Change Notes
2016 3Q 2017 3Q % Q2’17 Q3’17 %
Net Profit
Share Income757.050 901.884 19,13 321.261 262.239 -18,37
Profit share expense increased by 13,4% while PSI
raised by 16,0% YoY basis. Joint venture projects
returns reached to TL 144.947 in 3Q’2017
(3Q’2016: TL 62.108)
Net Fee
Income105.191 109.185 3,80 36.119 35.268 -2,36
Higher Net Fee income in 2017 (YoY) But lower
rate of increse in 2017
Net Trading
Income51.750 25.945 -49,86 24.932 8.160 -67,27 Lower Foreign Exchange Income
Other Income 82.120 85.315 3,89 34.373 21.508 -37,43 -
Provisioning 227.124 358.819 57,98 96.484 124.306 28,84 Higher provisions in 2017
Other Costs 547.336 588.276 7,48 204.274 189.782 -7,09Slower rate of increase in 2017
Tax 42.754 34.117 -20,2 20.423 13.087 -35,92
Net Profits 178.867 141.117 -21,1 95.504 9.820 -89,72 -
Income- Cost Dynamics
21
Agenda
1 Introduction
2 Financial Highlights
Appendix
4
3Market Comparison
Percent 2016 3Q 2017 3Q
Albaraka
Türk
Participation
Banks*
Banking
Sector*
Albaraka
Türk
Participation
Banks*
Banking
Sector*
Asset Size -3,1 -0,2 7,5 3,0 11,7 11,8
Total Credits** 2,8 3,9 5,6 3,9 15,9 14,6
Deposits/Collected
Funds***-1,2 -1,9 7,5 4,1 17,8 11,3
* According to BRSA data
** Including Leasing Receivables, Interest (Profit Share) and Income Accruals and Rediscounts from Loans, Loans Extended to Banks
*** Including Deposit (Participation Funds) Interest (Profit Share) Rediscounts and Deposit (Participation Funds) Collected from Banks
21,0%
12,6%
26,4%
15,1%
18,2%15,8%
24,4%
17,8%
39,7%
33,9%
28,3%
11,1%
2011 2012 2013 2014 2015 2016
Asset Size GrowthBanking Sector
Albaraka Türk
Albaraka Turk - Total Growth 2017 3Q
23
Percent 2016 3Q 2017 3Q
Albaraka
Türk/
Participation
Banks
Albaraka
Türk/ Banking
Sector
Participation
Banks/ Banking
Sector
Albaraka
Türk/
Participation
Banks
Albaraka
Türk/ Banking
Sector
Participation
Banks/ Banking
Sector
Asset Size 23,8 1,1 4,7 22,8 1,1 4,9
Total Credits* 24,8 1,2 4,9 23,1 1,1 4,9
Deposits/Collected Funds** 27,1 1,4 5,2 24,1 1,4 5,8
* Including Leasing Receivables, Interest (Profit Share) and Income Accruals and Rediscounts from Loans, Loans Extended to Banks
** Including Deposit (Participation Funds) Interest (Profit Share) Rediscounts and Deposit (Participation Funds) Collected from Banks
Albaraka Türk; 22,8%
Participation Banking;
4,9%
Banking Sector Participation Banking Sector
Albaraka Turk - Market Share 2017 3Q
24
Percent 2016 2017- 3Q
Albaraka Türk Participation
BanksBanking Sector Albaraka Türk
Participation
Banks
Banking
Sector
CAR 13,46 16,17 15,57 17,37 17,25 17,20
NPL Ratio 4,75 3,58 3,22 5,36 3,92 3,08
Provisioning Ratio 52,31 61,00 77,39 55,34 68,13 79,53
Loan/Deposits 98,13 110,61 117,23 98,35 102,68 120,26
ROAA (IBT)* 0,88 1,10 1,89 0,66 1,25 2,00
ROAE (NI)* 9,91 9,71 13,26 7,72 11,47 14,30
Asset Yield 8,97 8,87 8,37 8,96 9,09 8,59
Asset Spread 4,53 4,45 3,39 4,51 4,41 3,45
Net Profit Share Margin* 4,14 4,54 4,01 4,21 4,56 4,07
Net Fee Income / Avg. Assets 1,04 0,80 0,96 0,91 0,77 0,97
Op Costs / Avg. Assets 2,47 2,33 2,34 2,13 2,28 2,29
Cost/Income** 53,65 46,37 40,68 52,42 43,51 38,90
Credits / Branches (000‘TRL) 106.676 92.074 153.632 110.283 102.460 177.669
Staff / Branches 17,82 15,04 17,70 18,07 14,88 17,98
CA / Deposits 23,44 28,35 20,33 25,32 28,81 21,16*Cost: Operating Costs, Income: NII/NPSI, Net Fees and Commissions Income, Other Income
Financial Ratios - Sector Comparison
25
Agenda
1 Introduction
2 Financial Highlights
Appendix
4
3Market Comparison
(Thousand TRL) Dec’16 Sep‘17 Growth (%)
Cash and Banks 7.157.229 6.465.270 -9,67%
Financial Assets 1.448.786 2.318.926 60,06%
Funds Utilized 22.722.054 23.710.838 4,35%
Cash Credits 21.843.075 22.396.122 2,53%
NPL 1.105.954 1.309.370 18,39%
Provisions 578.505 724.648 25,26%
Net Financial Leasing Receivables 878.979 729.994 -16,95%
Investments Held to Maturity (Net) 668.582 508.921 -23,88%
Associates 30.119 30.119 0,00%
Fixed Assets 517.131 564.832 9,22%
Assets Held For Sale and Investment 92.317 62.714 -32,07%
Other Assets (inc. Tax Assets) 214.520 165.021 -23,07%
Total Assets 32.850.738 33.826.641 2,97%
Funds Collected 23.151.164 24.109.244 4,14%
Funds Borrowed 4.424.195 4.723.298 6,76%
Debts (inc. Tax) 1.247.030 807.965 -35,21%
Provisions 233.849 234.574 0,31%
Tier II Sukuk 1.510.937 1.563.245 3,46%
Shareholders’ Equity 2.279.593 2.382.976 4,54%
Capital 900.000 900.000
Capital Reserves (inc. Premium) 211.876 220.740
Profit Reserves 946.757 1.113.454
Profits 221.560 148.782
Prior Periods 3,951 7.664
Current Year 217,609 141.118
Total Liabilities 32.850.738 33.826.641 2,97%
Albaraka Turk- Summary Balance Sheet
27
(Thousand TRL) Sep’16 Sep’17 Growth
Profit Share Income 1.635.408 1.897.859 16,05%
Profit Share Expense 878.358 995.974 13,39%
Net Profit Share Income 757.050 901.885 19,13%
Net Fees and Commissions Income 105.191 109.185 3,80%
Fees and Commissions Received 150.630 159.845 6,12%
Fees and Commissions Paid 45.439 50.660 11,49%
Net Trading Income 51.750 25.945 -49,86%
Other Operating Income 82.120 85.315 3,89%
Total Operating Profit 996.111 1.122.330 12,67%
Provisions for Loan Losses 227.124 358.819 57,98%
Other Operating Expenses 547.336 588.276 7,48%
Net Operating Profit 221.651 175.235 -20,94%
Tax Provision 42.784 34.117 -20,26%
Net Profits 178.867 141.118 -21,10%
Albaraka Turk – Summary Income Statement
28
THANK YOU
Disclaimer
THIS PRESENTATION AND THE INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND MAY NOT BE REPRODUCED, CIRCULATED, DISTRIBUTED OR PUBLISHED (IN WHOLE OR IN PART) OR
DISCLOSED BY RECIPIENTS TO ANY OTHER PARTY. BY VIEWING THIS PRESENTATION, YOU AGREE TO BE BOUND BY THE FOREGOING LIMITATIONS.
This presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase any securities of Albaraka Türk Katılım Bankası A.Ş.,
nor shall any part of it form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities
of the Bank. The information contained in this document is published for the assistance of recipients, but is not to be relied upon authoritative or taken in substitution for the exercise of
judgment by any recipient. The Bank does not accept any liability whatsoever for any direct or consequential loss arising from any use of this document or its content. Any purchase of
shares of the Bank should be made solely on the basis of sound financial analysis on the part of the investor, with no liabilities arising against the Bank.
The information used in preparing these materials was obtained from or through the Bank or the Bank’s representatives or from public sources. Although prepared in good faith and from
sources believed to be reliable, no reliance may be placed for any purposes whatsoever on the information contained in this presentation or on its accuracy, completeness or fairness. The
information in this presentation is subject to verification, completion and change.
The projections, forecasts and estimates of the Bank contained herein are for illustrative purposes only and are based on management’s current views and assumptions. Such projections,
forecasts and estimates involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated in this
presentation. The Bank expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this presentation to reflect any change in
events, conditions, assumptions or circumstances on which any such statements are based unless so required by applicable law. Investors should note many different risk factors could
adversely affect the outcome and financial effects of the plans and projections described herein. As a result, you are cautioned not to place undue reliance on any forward-looking
statements. The Bank, its advisers and each of their respective members, directors, officers and employees disclaim any liability in case projections and plans given in this document are not
realised.
Investor Relations
Address : Saray Mahallesi Dr.Adnan Büyükdeniz Caddesi No:6 34768 Ümraniye/ İSTANBUL
E-mail : [email protected]
Tel : +90 216 666 03 03
Fax : +90 216 666 16 20
Internet : www.albaraka.com.tr
Contact Us
