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CAL BANK LIMITED

CAL BANK LIMITED. FIRST QUARTER 2015 “FACTS BEHIND THE FIGURES” Investor & Analyst Presentation. Disclaimer.

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CAL BANK LIMITED

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  1. CAL BANK LIMITED FIRST QUARTER 2015 “FACTS BEHIND THE FIGURES” Investor & Analyst Presentation

  2. Disclaimer This report was prepared by CAL to provide background information on the Group. The report is issued for information purposes only, especially with regards to enabling users understand the inherent potential of the business. It is therefore not a solicitation to buy or sell the stock. The information contained herein is subject to change and neither the bank nor its staff is under any obligation to notify you or make public any announcement with respect to such change. Users are hereby advised to exercise caution in attempting to rely on this information and carry out further research before reaching conclusions regarding their investment decisions.

  3. Speakers

  4. Outline • Operating Environment • Banking Sector Overview • Company Overview • FY 2014 Financial Highlights • Q1 2015 Performance • Share Price Performance • 2015 Strategy and Outlook

  5. OPERATING ENVIRONMENT: GHANA

  6. Ghana Macro Overview - Q1 2015 Rising Inflation (%) Depreciating Cedi To be updated till March 2015 March 2015: 16.6% Strained Fiscal Position (%) T-Bill Rates

  7. Banking sector overview

  8. Ghana Banking Sector Indices - Q1 2015 The banking sector currently has 28 banks: 14 foreign, 3 government and 11 local banks KEY METRICS INDUSTRY NPL RATIO LOANS AND ADVANCES² TOTAL INDUSTRY ASSETS DEPOSITS INDUSTRY CAR POLICY RATE¹ DEC 2014 17.0 GHS Billion MARCH 2014 40.0 GHS Billion MARCH 2014 18.0 PERCENT MARCH 2014 12.4 PERCENT MARCH 2014 26.0 GHS Billion MARCH 2014 17.9 PERCENT DEC 2014 24.1 GHS Billion MARCH 2015 18.5 PERCENT MARCH 2015 12.1 PERCENT MARCH 2015 21.0 PERCENT MARCH 2015 55.1 GHS Billion MARCH 2015 34.0 GHS Billion ΔY/Y 30.8 GHS Billion ΔY/Y -2.4 PERCENT ΔY/Y 41.5 GHS Billion ΔY/Y 37.8 GHS Billion ΔY/Y 16.7 PERCENT ΔY/Y 3.4 PERCENT The MPC increased the policy rate to 22% at its last committee meeting ending Wednesday, May 13, 2015 FY 2014 Numbers

  9. Cal Bank “at a glance”

  10. CAL Bank “At a Glance” - Q1 2015 Shareholding Structure CAL Bank Limited is an indigenous bank established in Ghana in 1990, listed on the Ghana Stock Exchange SUBSIDIARIES 3 WHOLLY OWNED EMPLOYEES 752PROFESSIONAL STAFF Channels 22 Branches 85 ATMs 15 Corr. Banks Partners Market Information¹ ISSUED SHARES 548.26 MILLION MARKET VALUE 553.74 MILLION CEDIS PUBLIC FLOAT 36.74 PERCENT 1. As at 31/03/2015

  11. Cal Bank q1-2015 performance

  12. CAL - Amongst Top 10 Banks in 2014 Market share FY 2014 Share of Industry PAT FY 2014 Share of Industry loans FY 2014 Share of Industry Total Assets Source: Company Financials

  13. CAL ranks Top 10 in Banks in 2014 KPIs FY 2014 RoE FY 2014 RoA FY 2014 Cost-to-income ratio

  14. Q1-2015- Income Statement 1 Profitability • Net Interest Income growth of 40.1% y/y attributable to a 70.1% growth in interest-bearing assets • Net Fees & commissions up by 101.3% from increased loan and L/C volumes. • Credit Loss Expense growth of just 1.7% from more stringent loan monitoring methods resulting in lower defaults • Staff costs up by 58.0% , forming 65.0% of Total Operating Expenses in Q1-2015, in line with previous year Q1-2014 (62.0%) • Operating Expenses up 49.3% . Higher inflation , currency depreciation & increased fuel usage during power cuts contributed to higher operating costs • 39.4% y/y growth in Profit before tax Key facts

  15. Income Statement Evolution 2013-2015 Net Interest Income GHS 000’s Non- Funded Income GHS 000’s Credit Loss Expense GHS 000’s Cost-to-income ratio % NPL ratio % Net-Interest Margin %

  16. Asset Profile 2013-2015 Interest earning assets dominate Sectoral Distribution of Loans Q1 2015 Q1 2014

  17. Capital & Returns 2013-2015 Capital Adequacy Ratio - Ample Capital ROAA & ROAE

  18. Q1-2015 - Balance sheet 2 Balance Sheet • Total Assets grew by 78.1% y/y largely supported by a 42.5% growth in Loans & Advances (mainly to the corporate sector) and investment in Government securities. • Fixed Assets growth of 65.1 % mainly from revaluation of landed properties • Total deposits increased by 55.3 % y/y primarily from increased wholesale deposits and increase in branch network from 20to 22. • Borrowings increased by 157.5% y/y through securing additional facilities to support asset growth and to support increased volume of trade and financing activities. Key Facts

  19. CAL Share Price - Year to March 2015 CAL stock appreciation (YTD): 8.2% EPS: GHS 0.2611(annualized) P/E : 3.6x P/B : 1.4x Dividend Yield : 7.64% Market cap : GHS 553.74 Million (US 208 Million)

  20. Pricing Evolution 2013-2015 PRICE-TO-EARNINGS RATIO PRICE-TO-BOOK RATIO

  21. 2015 Strategy & Outlook Retail Banking • Increase branch network to 30 - selected locations to increase deposit base • Launch branchless banking through agencies and outlets • Concerted drive into new E-business initiatives to boost deposits and increase payment channels e.g.; • - E- ZWICH card enrolment project • - POS Merchant Acquisition on Visa/MasterCard • - E-card School fees collection Corporate Banking • Pursue high quality, selective asset growth from target sectors • Grow non-funded income from International trade , forex , advisory & syndication mandates • Increase share of wallet across target business sectors (oil & gas, energy & power, services and telecommunications) People • Roll-out bespoke training of all staff using dedicated CAL resource Center • Continue to reward staff performance to retain motivated & high quality personnel • Deepen cross-training to enhance cost and operational efficiency • Remain on-track with CAL Head Office project to provide world class , conducive work environment Technology • Continue business process automation to boost operating efficiency • Increase operational ATMs from 85 to 110 by year end 2015 • Enhance IT products to offer additional channel expansion notably: • VISA/MasterCard POS merchant terminals • MasterCard/ China Union Pay products • ATM acquiring on MasterCard • Issuance of Prepaid Master Cards • Enhance Visa Platform using VBV • Acquiring Diners and Discovery on ATMs/POS channels • Enhanced Internet banking Risk Management & Compliance • Strengthen risk management framework • Balance market risk exposures while optimising return on risk • Enhance loan monitoring and early-detection toolkits to ensure quality loan portfolio. • Maintain low NPL ratio

  22. THANK YOU Q&A

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