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BANCA TRANSILVANIA
September 2015 Financial Results
The information contained in the present document has not been independently verified and
no representation or warranty expressed or implied is made as to, and no reliance should be
placed on the fairness, accuracy, completeness or correctness of this information or opinions
contained herein.
Banca Transilvania cautions readers that no forward-looking statement that may be contained
in the present document is a guarantee of future performance and that actual results could
differ materially from those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made, and Banca Transilvania undertakes no
obligation to update publicly any of them in light of new information or future events.
None of Banca Transilvania or any of its affiliates, advisors or representatives shall have any
liability for any loss howsoever arising from any use of this document or its content or
otherwise arising in connection with this document.
The present document does not constitute a public offer under any applicable legislation or an
offer to sell or solicitation of any offer to buy any securities or financial instruments or any
advice or recommendation with respect to such securities or other financial instruments.
DISCLAIMER
1
AGENDA
2
Banking Sector Dynamics
YTD Sep’15 Highlights
Performance in YTD Sep’15
Overview of Business Lines
BT Financial Group
1
2
3
4
5
ROMANIAN BANKING SECTOR – 2015
briefing
3
● The Romanian banking system stays solid:
● average CAR at 18%
● NPL ratio markedly improved to less than 13% from cca. 22% in 2013
● Top 7 banks hold ~66% of total assets / Top 3 banks ~40%
● The non-government loans rose by 2% ytd, as the increase of the RON
component (by 11.2% ytd) counterbalanced the decline of the FX
component (by 5.2%)
BANKING SECTOR DYNAMICS YTD SEP’15 highlights PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
20.3%
21.6% 21.9%
20.4%
19.2%
15.3%
13.9% 13.9%
12.8%
2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15
NPL ratio, % source: NBR
355
354
362
353 352351
364
361
363
-4.3%
-5.3%
-0.9% -1.0%-0.7% -0.6%
0.5%
2.4%
3.1%
340
345
350
355
360
365
-6%
-4%
-2%
0%
2%
4%
6%
8%
2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15
total bank net assets source: NBR
BANK ASSETS RETURN TO GROWTH
4
net assets
in RONbn
net assets
%YoY
Bank assets growth pace
picking up in 2015
NPL continue to decline,
dropping below 13% as of June
BANKING SECTOR DYNAMICS YTD SEP’15 highlights PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
LENDING IN RON
pushes the credit activity back into positive after a
long time
5
90 9093
100
105
119117
114111 111
6000%
7000%
8000%
9000%
10000%
11000%
12000%
13000%
3Q14 4Q14 1Q15 2Q15 3Q15
loans non-government
, RONbn source: NBR
RO
N l
oans
FX loans
Lending inches into positive territory
for the first time since Feb 2013
Loans in domestic currency
remain the credit activity driver
4.2%
1.3
%
-0.2
%
-1.3
%
-3.3
%
-3.3
% -2.7
%
-3.9
%
-4.5
%
-3.3
%
-3.4
%
-0.1
%
0.6
%
-5%
-4%
-3%
-2%
-1%
0%
1%
2%
3%
4%
3Q12 1Q13 3Q13 1Q14 3Q14 1Q15 3Q15
loans non-government
, %YoY source: NBR
BANKING SECTOR DYNAMICS YTD SEP’15 highlights PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
6
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
Banca Transilvania’s
business development and financial
performance
at the end of third quarter 2015
7
PR
OFIT
ABIL
ITY
Mil. RONYTD Sep’15 (unaudited)
YTD Sep’14 (unaudited) *
∆
Operating income 1,453.6 1,430.9 1.6%
Operating expenses (717.6) (613.2) 17.0%
Gross profit before provisions 735.9 817.8 -10.0%
Net income 313.0 322.6 -3.0%
EPS RON 0.104 0.108 -4.5%
Cost of risk (%) 1.9% 2.9% -33.6%
NIM (%) 2.9% 3.4% -0.5 pp
ROE (%) 11.2% 13.3% -1.9 pp
Cost-to-income ratio (%) 49.4% 42.8% 6.6 pp
CR
ED
ITA
CT
IVIT
Y
Sep’15 Dec’14 ∆
Gross loans to customers 23,848.5 20,020.0 19.1%
Deposits from customers 32,527.2 30,045.5 8.3%
Loans-to-deposits ratio 73.3% 66.6% 6.7 pp
NPL ratio 9.5% 10.9% -1.4 pp
CA
PIT
AL
Total equity 3,860.5 3,702.0 4.3%
Tier 1 capital ratio (profit included) 14.9% 15.5% -3.9 %
Total capital ratio (profit included) 16.1% 17.3% -6.9 %
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
YTD SEP’15
highlights
* with full guarantee fund contribution booked as of 1st H 2014
BUSINESS PERFORMANCE YTD SEP’15
at a glance
8
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
Total assets at RON 39.4 bn
10.6% YTD
● Healthy growth of the loan portfolio across all business line
● Partial switch from AFS portfolio to other assets categories (due to banks
&loans)
● Continued growth of deposit base by 6%
Capital adequacy ratio at 16.1% ● Strong capital base, supporting both organic and inorganic growth
Net fees and commissions at RON
324 mn 8.4% Y/Y
● Driven by increased number of operations and additional cross-sell
● Operational revenues grew by 11% in 9m of 2015
CoR on a sound path
by 40bp Q/Q● In the third quarter, the YTD CoR decreased to 1.9%, from 2.3% in Q2 2015
Net profit at
RON 313mn 3% Y/Y
● Operating income positively influenced by increase in commission income
and trading income
● The results of the first 9 months in 2015 were influenced by one-off
expense items linked to Volskbank integration process
Cost/income at 49.4%
● Cost to income was negatively influenced by one-off type of expenses and
by the change regarding the booking of the Deposit Guarantee Fund
contribution
● Without the one-off expenses above, Cost/Income stays at 46%
854
299
94
184
613
442
53
323
827
324
114
188
718
362
60
313
0%
10000%
20000%
30000%
40000%
50000%
60000%
70000%
80000%
90000%
Detailed Income and Expense Structure, RONmn
YTD
Sep 2
014
YTD
Sep
2015
net interest income
net feeincome
net tradingincome
other netincome
operatingexpenses
cost of risk income tax net profit
-3% +8% +17% -18%+22% +2% +14% -3%
9
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
PROFIT & LOSS ACCOUNT STRUCTURE
balance evolution of different income and expense items
2.6 2.6 2.8
10.2 10.010.5
0%
200%
400%
600%
800%
1000%
1200%
1400%
Sep 14 Dec 14 Sep 15
Loans to Companies, RONbn
SM
Es*
corp
ora
tes
12.8
14.3
13.312.3
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Loans to Companies, RONbn
RON81% FX19%
10
4.8 4.7
6.6
2.5 2.7
4.0
0%
200%
400%
600%
800%
1000%
1200%
Sep 14 Dec 14 Sep 15
Loans to Households, RONbn
consu
mpti
on
housi
ng
7.3 7.5
10.6
oth
er
Loans to households up by 45%
Y/Y, also on regained confidence
Higher proportion of investment
loans to companies
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Loans to Households, RONbn
RON75% FX25%
*SMEs identified according to internal classification rules
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
LOAN STRUCTURE
2.9 3.6 3.9
6.9
7.8 8.0
0%
200%
400%
600%
800%
1000%
1200%
1400%
Sep 14 Dec 14 Sep 15
Deposits from Companies, RONbn
SM
Es*
corp
ora
tes
9.8
11.411.9
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Deposits from Companies, RONbn
RON73% FX27%
2.5 2.9 4.2
15.015.7
16.5
0%
500%
1000%
1500%
2000%
2500%
Sep 14 Dec 14 Sep 15
Deposits from Households, RONbn
curr
ent
accounts
deposi
ts
17.518.6
20.7
Deposits from households
continue the growth path
Deposits from companies remain
stable
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Deposits from Households, RONbn
RON57% FX43%
*SMEs identified according to internal classification rules
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
DEPOSIT STRUCTURE
11
12
● Banca Transilvania continued the conservative
provisioning policy, providing a sound coverage
ratio for its PAR 90 portfolio
● NPLs ratio at the lowest level in the last 4 years
● Retail and SME related NPLs stay on a decreasing
trend75% 77% 81% 77%
11.3%
12.6%
10.9%
9.5%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
12 13 14 Sep 15
0%
20%
40%
60%
80%
100%
120%
NPL ratio and NPL coverage
NPL coverage with provisions and mortgage collaterals
NPL coverage with provisions
NPL ratio
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
NPL RATIO AT 9.5%
13
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
● Sound organic growth of 13% during 9 months of
2015
● CHF loan portfolio conversion successfully
completed in August
Banca Transilvania is number 1 in Romania in
terms of the transactions turnover on its cards
portfolio with a market share of 19.4%; a total
card portfolio of close to 2.5 million (9% up
against H1 2014)
● BT 24 and mobile banking remained top priority 6.28 6.32
6.80
7.47
8.45
500%
550%
600%
650%
700%
750%
800%
850%
900%
950%
1000%
11 12 13 14 Sep 2015
Retail Loan Portfolio, RONbn source: BT
loans transferred
from VBR2.13
Retail loan portfolio reached RON
10.6bn in September 2015
10.58
RETAIL BANKING
14
● Banca Transilvania continued its specific focus on
the SME business sector, processing over 15,000
new loans in 9 months of 2015
The portofolio of attractive cash management
facilities, tailored on SME needs, boosted the
number of SME client accounts to 260,000
BT continued its partnership with DFIs, offering
special loan and guarantee products to its SME
clients
● Agriculture, Healthcare and European Structural
Funds are on BT radar as specialized sectorial
approaches
SME loan portfolio up by 9%
2.81, 1.81
2.512.48
2.58
2.81
160%
180%
200%
220%
240%
260%
280%
11 12 13 14 Sep 2015
SME Loan Portfolio, RONbn source: BT
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
SME BANKING
CORPORATE BANKING
15
● Corporate loans inflexioned at country level
during this spring, evolution determined by the
acceleration of the real economy and attractive
funding costs
BT was present with lending facilities especially in
the industrial manufacturing and agribusiness
segments
BT continued to play an important role as co-
lender of EU structural funds eligible projects
Corporate loan portfolio stable
above RON 10bn
7.61
8.74
9.889.97
10.46
700%
750%
800%
850%
900%
950%
1000%
1050%
1100%
11 12 13 14 Sep 2015
Corporate Loan Portfolio, RONbn source:
BT
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
BANCA TRANSILVANIA FINANCIAL GROUP
full array of financial services
16
Total assets: 89 RON mn
Total assets: 28 RON mn
Total assets: 106 RON mn
Total assets: 313 RON mn
Total assets: 67 RON mn
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
Total assets: 39.4 RON bn Total assets: 8.3 RON bn
As of 30.09.2015:
TLV SHARES
on Bucharest Stock Exchange
17
2.63
5/1
/15
19/1
/15
2/2
/15
16/2
/15
2/3
/15
16/3
/15
30/3
/15
13/4
/15
27/4
/15
11/5
/15
25/5
/15
8/6
/15
22/6
/15
6/7
/15
20/7
/15
3/8
/15
17/8
/15
31/8
/15
14/9
/15
28/9
/15
12/1
0/1
5
26/1
0/1
5
9/1
1/1
5
1.6
1.8
2
2.2
2.4
2.6
TLV price performance YTD 2015
111
103
160
30/1
2/1
4
22/1
/15
11/2
/15
3/3
/15
23/3
/15
10/4
/15
4/5
/15
22/5
/15
12/6
/15
2/7
/15
22/7
/15
11/8
/15
31/8
/15
18/9
/15
8/1
0/1
5
28/1
0/1
5
95
105
115
125
135
145
155
165
175TLV vs. equity indices, reb. 30/12/14
STOXX Europe 600
BET
TLV
Price 09/11/15 RON 2.63
No. of shares 3,026mn
Market cap RON 7,958mn
Price change 59.9%YTD
Price change 70.2%YoY
Min YTD 2015 RON 1.621
Max YTD 2015 RON 2.670
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
18
PR
OFIT
ABIL
ITY
Mil. RONYTD Sep’15 (unaudited)*
YTD Sep’14 (unaudited)**
∆
Operating income 1,721.1 1,484.5 15.9%
Operating expenses (954.9) (646.6) 47.7%
Gross profit before provisions 766.1 837.9 -8.6%
Net income 2,296.2 338.1 579.1%
EPS RON 0.76 0.11 568.5%
Cost of risk (%) -0.10% 3.44% -102.8%
ROE (%) 54.16% 13.5% 302.3%
Cost-to-income ratio (%) 55.5% 43.6% 27.4%
CR
ED
ITA
CT
IVIT
Y Sep’15 Dec’14 ∆
Gross loans to customers 27,801.3 20,332.1 36.7%
Deposits from customers 35,644.1 29,994.9 18.8%
Loans-to-deposits ratio (%) 78.0% 67.8% 15.1%
CA
PIT
AL
Total equity 5,931.8 3,797.3 4.3%
Tier 1 capital ratio (profit included) (%) 20.3% 15.8% 28.4%
Total capital ratio (profit included) (%) 21.3% 17.6% 21.5%
BANKING SECTOR DYNAMICS YTD SEP’15 HIGHLIGHTS PERFORMANCE IN YTD SEP’15 OVERVIEW OF BUSINESS LINES BT FINANCIAL GROUP
YTD SEP’15 HIGHLIGHTS – consolidated figures
*with bargaining gain, preliminary calculation, subject to adjustments in accordance with IFRS 3 **with full guarantee fund contribution booked as of 1st H 2014
ANNEX I INCOME STATEMENT
19
IFRS, individual, RONmn * YTD Sep'15 YTD Sep'14 ∆
Net interest income 826.8 853.9 -3.2%
Net fee and commission income 324.4 299.3 8.4%
Net trading income 114.3 93.7 22.0%
Other net income 188.0 184.1 2.1%
Operating income 1,453.6 1,430.9 1.6%
Personnel expenses (372.9) (332.4) 12.2%
D&A (40.6) (44.0) -7.8%
Other operating expenses (304.2) (236.7) 28.5%
Operating expenses (717.6) (613.2) 17.0%
Cost of risk (362.4) (442.0) -18.0%
Net income before taxation 373.5 375.8 -0.6%
Income tax expense (60.5) (53.2) 13.8%
Net income after taxation 313.0 322.6 -3.0%
* The financial information as at 30 September 2014 and 30 September 2015 has not been audited or reviewed
ANNEX II BALANCE SHEET
20
IFRS, individual, RONmn * Sep-15 Dec-14 ∆
Cash & cash equivalents 3,937.7 4,226.0 -6.8%
Placements with banks 4,188.5 2,216.1 89.0%
Loans to customers, net 21,431.2 17,517.2 22.3%
T-bills & securities 8,864.8 11,068.0 -19.9%
Fixed assets 344.5 360.1 4.3%
Participations 431.8 74.9 476.8%
Other assets 198.9 157.3 -26.4%
Total assets 39,397.4 35,619.5 10.6%
Deposits from banks 737.7 133.3 453.2%
Deposits customers 32,527.2 30,045.5 8.3%
Loans from banks and FIs 1,308.8 949.1 37.9%
Subordinated loan 403.8 394.7 2.3%
Deferred tax liabilities 42.7 43.7 -2.2%
Other liabilities 516.7 351.3 47.2%
Total liabilities 35,536.9 31,917.6 11.3%
Shareholders’ equity 3,860.5 3,702.0 4.3%
* The financial information as at 30 September 2014 and 30 September 2015 has not been audited or reviewed
ANNEX III INCOME STATEMENT
21
IFRS, consolidated, RONmn * YTD Sep'15 YTD Sep'14 ∆
Net interest income 1,031.8 882.2 16.9%
Net fee and commission income 354.9 311.4 14.0%
Net trading income 126.8 89.9 41.0%
Other net income 207.6 200.9 3.3%
Operating income 1,721.1 1,484.5 15.9%
Personnel expenses (486.1) (348.2) 39.6%
D&A (66.0) (50.3) 31.2%
Other operating expenses (402.8) (248.1) 62.4%
Operating expenses (954.9) (646.6) 47.7%
Cost of risk 18.1 (445.2)
Bargaining gain 1,575.5
Net income before taxation 2,359.8 392.7 500.9%
Income tax expense (63.7) (54.6) 16.6%
Net income after taxation 2,296.2 338.1 579.1%
* The financial information as at 30 September 2014 and 30 September 2015 has not been audited or reviewed.Including the bargaining gain, preliminary calculation, subject to adjustments in accordance with IFRS 3 .
ANNEX IV BALANCE SHEET
22
IFRS, consolidated, RONmn * Sep-15 Dec-14 ∆
Cash & cash equivalents 4,476.7 4,234.2 5.7%
Placements with banks 3,139.4 2,224.3 41.1%
Loans to customers, net 25,066.6 17,663.0 41.9%
T-bills & securities 10,602.7 11,078.6 -4.3%
Fixed assets 466.4 412.3 13.1%
Participations 0.0 0.0
Other assets 281.0 183.6 53.0%
Total assets 44,032.8 35,795.9 23.0%
Deposits from banks 180.6 133.3 35.5%
Deposits customers 35,644.1 29,994.9 18.8%
Loans from banks and FIs 581.6 1,052.7 -44.8%
Subordinated loan 403.8 394.7 2.3%
Deferred tax liabilities 42.0 41.0 2.3%
Other liabilities 1,248.8 381.9 227.0%
Total liabilities 38,101.0 31,998.7 19.1%
Total equity 5,931.8 3,797.3 56.2%
* The financial information as at 30 September 2014 and 30 September 2015 has not been audited or reviewed Including the bargaining gain, preliminary calculation, subject to adjustments in accordance with IFRS 3 .
Banca Transilvania HQ8, G. Baritiu Street, Cluj-Napoca
400027, Romania
+ 40 264 407 150
+ 40 264 407 179 /FAX
www.bancatransilvania.ro/en/investor-relations
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