ŞEKERBANK T.A.Ş FIRST QUARTER of 2012 INTERIM REPORT - PDF

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ŞEKERBANK T.A.Ş FIRST QUARTER of 2012 INTERIM REPORT 1 ŞEKERBANK FIRST QUARTER of 2012 INTERIM REPORT GENERAL INFORMATION Bank s Incorporation Date, Beginning Statue, Changes in the Existing Statue Şekerbank

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ŞEKERBANK T.A.Ş FIRST QUARTER of 2012 INTERIM REPORT 1 ŞEKERBANK FIRST QUARTER of 2012 INTERIM REPORT GENERAL INFORMATION Bank s Incorporation Date, Beginning Statue, Changes in the Existing Statue Şekerbank T.A.Ş. ( the Bank ) was founded in 1953 as a Turkish bank with 14 partners in Eskişehir and started its operations under Pancar Kooperatifleri Bankası A.Ş. in Eskişehir and changed its name to Şekerbank T.A.Ş by moving headquarters to Ankara in % of the Bank shares were offered to public in 1997 and currently % of the Bank shares are publicly offered. Bank s one of the main shareholders, Şekerbank T.A.Ş. Voluntary Pension Fund, gives its members additional social rights and retirement guarantees in the social security system. The Bank has subsidiaries and affiliates in the sectors of finance and tourism. Business line of the Bank covers extending all kinds of cash and non-cash loans in Turkish Lira and foreign currency and carrying out capital market transactions, accepting deposits in TRY and FC and providing other banking services. Shareholder Structure Shareholders Number of Shares Nominal Value(TRY) % of Shares Şekerbank T.A.Ş. Voluntary Pension Fund Samruk Kazyna National Welfare Fund , ,00 33, , ,00 22,22 BTA Securities JSC , ,00 11,76 Sugar Beet Cooperatives , ,57 0,08 Publicly Traded , ,43 31,96 Total , , INTRODUCTION Şekerbank reached TRY thousand net profit as of end of the first quarter of The deposit size of the Bank grew by 14,20 % YoY, reaching TRY million. The asset size grew by 8,69 % YoY, reaching TRY million. The equity size of the Bank over the same period grew by 13,24 %, reaching TRY million, while the credit portfolio grew by 11,85 %, reaching TRY million. The share of the deposits used as the main funding resource of Şekerbank in the liability side reaches 64,74 % of the total liabilities and net worth, while 94,55 % of the deposits has been used as financing source. 2 Message from the Chairman The success of our Bank presented in the balance sheet of is pleasing and also it shows that our success will sustain in a planned manner in compliance with the conjuncture with Şekerbank s special widespread structure differing from its competitors in terms of both the branch penetration and customer variety. Our strategy of Community Banking we set five years ago in the middle of a fierce pricing and market share competition with the target of growing moderately but soundly have started to yield fruit today. We have started to support the stable growth line we have achieved thanks to our widespread branch network covering 70 cities and 204 districts, the service we have brought to the segments that do not have any access to the banking services, and the support we have been giving to the Anatolian entrepreneurs in good days and bad days with a sustainable profitability. As an institution that has played a role in the growth story of numerous corporate firms contributing to production and employment today, we will continue to grow together with our customers just like a comrade and focus on the real banking operations by supporting the production and funding the real sector in this period as well. Similar to the past Şekerbank s assets position giving priority to loans is preserved in this balance sheet period as well. According to our non-consolidated balance sheet dated , 61% of our total assets are composed of the loans. The ratio of loans in the assets structure of banking sector is about 57% today, compared to 25% in the year Thus, it is an important indicator that this ratio is over the sector average in our bank. Emphasizing that our support to production to promote our country s development and the Anatolian entrepreneur will continue in the coming period in line with our set mission; I would like to present my thanks and regards to all our employees, business partners, and shareholders. Dr. Hasan Basri Göktan Executive Chairman of Board of Directors 3 Message from the General Manager According to our bank s non-consolidated financial statements dated , we have doubled our profit year over year by making a net profit of TRY 60.7 million in the first quarter of this year. While our deposit size have reached TRY 9.4 billion with a 14 percent year-over-year rise, our credit volume has risen to TRY 8.9 by increasing 12 percent compared to the first quarter of The rise in Şekerbank s deposit volume has outpaced the credit rise compared to both the same period and the end of the last year. According to data in our non-consolidated balance sheet dated , we have achieved 9% growth in the last one year, and our Bank's assets size has become TRY 14.5 billion. With our equity size exceeding TRY 1.5 billion, on the other hand, the annual increase in this item was 13 percent. Our performance proves the correctness of the high-quality volume growth strategy we have been applying since the second half of the year We have combined the policy of rendering the best services in our specialty areas through our Community Banking mission with the target of efficiency, in consequence of which we have achieved our profitability growth by 100%. In the last quarter, we have covered 27 percent of our operational expenditures from the revenues from banking services. And our target is to increase our service quality more by increasing this ratio with the steps we have taken to increase the operational efficiency. In the coming period, we will continue to give the best services of the sector in our specialty areas, i.e. the commercial banking, widespread retail banking, agricultural and small-sized enterprise banking, and financing of the energy efficiency, and sustaining our profitability performance through high-quality volume growth. Respectfully, Meriç Uluşahin General Manager 4 Şekerbank by Numbers Financial Highlights (TRY thousand) Assets Loans (Net) Securities Equity Deposits Profit Before Taxation Net Profit Financial Ratios Net Profit / Assets* 1,68% 0,82% 0,91% Net Profit / Equity* 15,80% 8,07% 8,93% Securities / Assets 23,07% 24,65% 26,58% Loans (Net) / Assets 61,21% 60,61% 59,48% Deposits / Assets 64,74% 63,05% 61,61% * Annualized Chairman and the Members of Board of Directors, Statutory Auditors, General Manager as of Name Dr. Hasan Basri GÖKTAN * Arman DUNAYEV Meriç ULUŞAHİN Emin ERDEM Tatiana Alekseevna FILIPPOVA Erdal BATMAZ Halil Can YEŞİLADA Anvar SAIDENOV Erdal ARSLAN Khosrow Kashani ZAMANI * Ulf WOKURKA Kamil ÖZDEMİR Hasan Şahin CENGİZ Ülfet CİNBİŞ Title Executive Chairman of the Board of Directors Vice Chairman of the Board of Directors Member of the Board of Directors, General Manager Executive Member of the Board of Directors Executive Member of the Board of Directors Executive Member of the Board of Directors Member of the Board of Directors Member of the Board of Directors Independent Member of the Board of Directors Independent Member of the Board of Directors Independent Member of the Board of Directors Statutory Auditor Statutory Auditor Statutory Auditor (*)Chairman of the Board of Directors Dr. Hasan Basri Göktan holds shares (0.05%) with a nominal value of TRY 501 Thousand, Khosrow Kashani Zamani, member of the Board of Directors, holds shares (0.022%) with a nominal value of TRY 222 Thousand acquired at the public offering. 5 Executive Vice Presidents as of Name Title Meriç ULUŞAHİN Member of the Board of Directors, General Manager Orhan KARAKAŞ Executive Vice President - Commercial Banking Tanol TÜRKOĞLU Executive Vice President - Information Technology Çetin AYDIN Executive Vice President - Financial Control and Operations A. Yücel AKBULUT Executive Vice President - Administrative Follow - Up Ramazan KARADEMİR Executive Vice President - Credit Management S. Zeki ÖNDER Executive Vice President - Financial Instutitions Abdurrahman ÖZCİĞER Executive Vice President - Individual Banking Murat ISHMUHAMEDOV * Executive Vice President - Risk Management Zafer ERSAN Executive Vice President - Audit Halit H. YILDIZ Executive Vice President - Small Enterprises Banking Nejat BİLGİNER Executive Vice President - Human Resources Cem MURATOĞLU Executive Vice President - Corporate Banking and Project Finance Hüseyin SERDAR * General Secretary - Support Services (*)Murat ISHMUHAMEDOV has resigned as of (**)Hüseyin Serdar who is the Executive Vice President of Support Services has total shares of % in nominal, amounting to TRY 26.7 Thousand which they obtained from public offering. Summary on the Bank s Services and Fields of Activity The Bank s fields of activities cover extension of all kinds of cash and non-cash loans in Turkish Lira and foreign currencies, carrying out capital market transactions, accepting deposits in TRY and FC and providing other banking services. As of 31 March 2012, the Bank provides service with staff, 272 branches in the country. Significant Developments ISS Corporate Services, Inc. (ISS) which has been certified by Capital Market Board of Turkey to perform Corporate Governance Rating assessment, rated Şekerbank with a rating of on , ISS updated Şekerbank s rating score with a rating of The breakdown of Şekerbank s rating score is shown as below. Categories Weight Score Shareholders Public Disclosure and Transparency Stakeholders Board of Directors Total Şekerbank applied to Banking Regulation and Supervision Agency, Capital Markets Board and İstanbul Stock Exchange for Private Sector Bond Issuance with a total amount TRY 330 million up to 2 years. Şekerbank T.A.Ş. signed an authorization agreement with Şeker Yatırım Menkul Değerler A.Ş. regarding Private Sector Bond Issuance with a total amount TRY 330 million. 6 Aid and Donations The aid and donations given as of end of the first quarter of 2012 is TRY Financial Standing, Profitability, and Solvency Şekerbank posted TRY 61 Million net profit as of end of the first quarter of 2012, whereas its assets grew by 8,69 % in comparison with March 31, 2011, reaching TRY Million. Loans reached 61,21% of the total assets as of March 31, As of March 31, 2012 securities portfolio has decreased by 5,83 % since 2011 year end and realized as TRY Million. The share of deposits of the Bank has reached 64,74 % of the liabilities. Bank s equity is TRY Million as of March 31, The Bank posted TRY 194 Million as net interest income and TRY 48 Million as net fee and commission income. The Bank s branch network of 272 branches as well as widespread presence within the country, broad customer and deposit base has positive impact on the loans repayment. 7
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