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8/14/2019 07 22 09 - Presentation CBS
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CanterburyB
uildingS
ociety
134thAnnualG
eneralM
eeting
22Ju
ly2009
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Chairman
GaryLeech
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AGE
NDA
Apologies
/Proxies
Minuteso
f133rdAnn
ualGeneralMeeting
Managem
entpresentation
Electiono
fDirectors
Directors
Remuneration
Appointm
entofAuditors
GeneralB
usiness
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BALANCESHEET
PeakedfollowingLBSmerger
Lendingo
pportunitie
sdriedup
Significan
tleveloftablemortgag
esand
scheduled
repayments
Focusonassetquality
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AssetsGraph
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BALANCESHEET
Peakedfo
llowingLBS
merger
Lendingopportunitiesdriedup
Significan
tleveloftablemortgag
esand
scheduled
repayments
Focusonassetquality
Equityred
ucedby
$4
.9m
NTApersharereduce
dby5%
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Eq
uity
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NTA/Sh
areprice
$0
.00
$0
.50
$1
.00
$1
.50
$2
.00
$2
.50
$3
.00
$3
.50
$4
.00
$4
.50
$5
.00
$5
.50
$6
.00
1/09/2004
1/03/2005
1/09/2005
1/03/2006
1/09/2006
1/03/2007
1/09/2007
1/03/2008
1/09/2008
1/03/2009
SharePrice
NTApershare
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ASSETQUALITY
Keytopro
tectingthe
balancesheet
Biggestrisktobankin
gprofitabilityandequity
Standardisedthelendingcriteria
andcredit
disciplinesfollowingmergers
Increased
understand
ingandpro
activeness
amongstafftowards
tightercred
it
managem
ent
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ASSETQUALITY
Resu
lte
d
in:
Bringingp
roblemacc
ountstoah
ead
Reducedexposuresinhigherrisk
areas
Reducedindividualexposures
Reducednonperform
ingassets
Reducedtotalarrears
Greaterawarenessandfocusby
lendingstaff
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LENDING
PROFIL
E
20
08
Residential
Commercial
Farming
2009
Reside
ntial
Comm
ercial
Farming
51.6
%
38
.0%
10
.4%
53
.0%
39
.5%
7.5
%
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LIQU
IDITYM
ANAGEM
ENT
Recognise
dimportan
ceearly
Increased
bankstand
bylines
Increased
cashreserv
es
Achieved
crownguarantee
Verysolid
reinvestme
ntrates
Disconnectinthefinancemarkets
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LIQU
IDITYM
ANAGEM
ENT
Recognisedimportanceearly
Increased
bankstandb
ylines
Increased
cashreserve
s
Achievedcrownguarantee
Verysolid
reinvestmen
trates
Disconnec
tinthefinan
cemarkets
Holdingliq
uiditybecam
everyexpe
nsive
Costoffundinglineincreased
Movetowardsgreater
efficiencyw
ithliquidity
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OPE
RATIONALEFFICIENCY
Costtoincomeratioisakeymea
sureof
bankinge
fficiency
Realistict
argetforCB
S505
5%m
aximum
Recentmergershave
resultedin
costretention
andasset
rationalisation
Graphsho
wsunacceptableincre
aseincostto
incomera
tio
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CO
STTOIN
COMER
ATIO
0.0
%
10
.0%
20
.0%
30
.0%
40
.0%
50
.0%
60
.0%
70
.0%
80
.0%
2005
2006
2007
2008
2009
2
010
2011
2012
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OPE
RATIONALEFFICIENCY
Costtoincomeratioisake
ymeasureofb
ankingefficien
cy
RealistictargetforCBS5055%maximum
Recentmerg
ershaveresultedincostrete
ntionandasset
rationalisation
Graphshow
unacceptableincreaseincosttoincomeratio
Twowaysto
improveefficiency
Verydelicatebalanceifwe
aretocapture
future
opportunitie
s
Bestsolutionfromhere:t
ocontrolcostbaseandgrow
revenue
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PROFITABILITY
2009impactedbymerger,asset
quality
,swa
p
cost,
rece
ssion,
regulatoryandr
eporting
requirements
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NetProfitaftertax
peter
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FU
TUREPR
OFITABILITY
Currentsw
apcostsandlowmargin
priorlendin
g
Presentlendingatsustainablemargins
Numberofnegativeim
pactsreversing
Costsarebeingtightly
managed
Maintainin
gexistingsk
illsandcapa
city
2010year
halfyearloss
/fullyea
rprofit
Beyond20
10weexpectstrongper
formanceas
marketno
rmalityreturns
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INVESTEDIN
THEFU
TURE
Gainedm
ergerexper
ience
OnlylistedBuildingSociety
Haveaqu
alitylendin
gbook
Veryloyaldepositors
Verydedicatedstaff,greaterskillsand
experienc
ealongte
rminvestm
ent
Wellpositionedtose
curequality
growth
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KEYMESSAGES
Keepingthebalancesheetstrong
Focusingonassetquality
Maintaini
ngadequateliquidity
Needtoimprovecost/incomeratio
Returning
togreaterprofitability
Significan
tinvestmen
tsinthefuture
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AGE
NDA
Apologies
/Proxies
Minuteso
f133rdAnn
ualGeneralMeeting
Managem
entpresentation
Electiono
fDirectors
Directors
Remuneration
Appointm
entofAuditors
GeneralB
usiness
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ELE
CTIONO
FDIRECTORS
Retiringinacco
rdancewithSo
cietyRules
DGChurch
RABonifant
RBradford
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ELE
CTIONO
FDIRECTORS
Reso
lution
requ
ire
d
thatMrDGChurchbe
ree
lected
totheBoar
d
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ELE
CTIONO
FDIRECTORS
Reso
lution
requ
ire
d
thatMrRBradfordbe
ree
lectedtotheBoard
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DIRE
CTORSR
EMUNERATION
Noincrea
seindirectorsfeesisp
roposedfor
the2010
year
Noresolu
tionrequired
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APPOINTMENTOFAUDITOR
Recordth
ereappoin
tmentofDeloitteas
Auditora
ndauthoris
etheDirectorstofixth
eir
remunera
tionforthe
currentfin
ancialyear.
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G
ENERAL
BUSINE
SS
Meetin
gClosure