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Full Year Financial Results 2011 26 March 2012. Agenda. Highlights. Economic overview. Financial review. Operational overview. Strategy and outlook. Highlights. DOUGLAS MUNATSI. PAT. RoE. Cost to Income. EPS. Financial Highlights. 2010 16.2%. 2011 BWP87.7m. 2010 BWP68.6m. 2010

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agenda

Agenda

  • Highlights
  • Economic overview
  • Financial review
  • Operational overview
  • Strategy and outlook
highlights

Highlights

DOUGLAS MUNATSI

financial highlights

PAT

  • RoE
  • Cost to Income
  • EPS
Financial Highlights
  • 2010
  • 16.2%
  • 2011
  • BWP87.7m
  • 2010
  • BWP68.6m
  • 2010
  • 46.3 thebe
  • 2010
  • 77%
  • 2011
  • 16.3%
  • 2011
  • 74%
  • 2011
  • 56.6 thebe
  • Profits dragged down by high impairment charge which increased from BWP15.8m in 2010 to BWP79.5m in 2011 & impact of IFC convertible loan of BWP35m
  • Up by 28%
  • Flat
  • 3 points
  • down
  • Up by 22%
  • Net asset value per share up from BWP2.88 to BWP3.99

4

financial highlights1

Attributable Profits (BWPm)

  • Dividend Per Share (Thebe)
  • NAV Per (BWP)
Financial Highlights
  • 2011
  • BWP83m
  • 2010
  • BWP66.7m
  • 2010
  • 10%
  • 2010
  • 2.93
  • 2011
  • 17.5%
  • 2011
  • 3.99
  • Up by 24%
  • Up by 39%
  • Up by 36%
  • Net asset value per share up from BWP2.88 to BWP3.99

5

financial highlights2

Deposits

  • Equity
  • Total Assets
Financial Highlights
  • Loans & Advances

2011

BWP9,2 billion

  • 2011
  • BWP6,1 billion

2011

BWP7,4 billion

  • 2011
  • BWP613 million

2010

BWP6,0 billion

  • 2010
  • BWP3,1 billion

2010

BWP4,9 billion

  • 2010
  • BWP438 million
  • Up 53%
  • Up 50%
  • Up 40%

Up 97%

6

economic review

Economic review

DOUG MUNATSI

economic overview
Economic Overview

Derailment of global recovery appears to have been averted for now

Europe adopted a tight fiscal stance & measures to reduce financial stress

Euro area is expected to enter into a mild recession in 2012

A stronger performance in emerging markets though growth revised downwards

US economic activity turning better than initially expected

9

economic overview1
Economic Overview

Sub-Saharan Africa (SSA) continuing its post-crisis recovery

SSA region grew by 4.9% in 2011 expected to grow by 5.5% in 2012

Commodity based countries remain vulnerable to any global downturn

10

gdp ranking as of 2012 top 15 economies
GDP Ranking as of 2012 – Top 15 Economies

US

China

Japan

Germany

France

Brazil

UK

New Global Order

Italy

ü

China overtook Japan

Russia

in 2010

China a leading

ü

India

commodities

consumer of

Canada

Brazil to overtake UK

ü

Spain

in 2012

Australia

Korea

US$ bn

Mexico

0

4,000

8,000

12,000

16,000

11

2011 inflation development
2011 Inflation Development

Inflation peaked in a number of countries during 2011

Price pressures from volatile and high fuel & food prices

14

policy interest rates
Policy Interest Rates

Policy interest rates – key monetary policy tools to fight inflation

Bots Bank rate remained flat at 9.5%

Moz policy rate was lowered by 150bs in line with declining inflation

In TZ, firming up of overnight rate in H2 was due to tight liquidity conditions

In ZM, bank rate averaged 8.8% in 2011 compared to 6.5% in 2010

15

exchange rate movement vs usd
Exchange Rate Movement vs. USD

Concerns on the pace of global recovery triggered ZAR weakness in H2 of 2011

Having appreciated in 2010, ZAR & BWP depreciated vs. US$ by 24% & 17%, respectively

MZN appreciated vs. USD by 18%. MZN was being used as a tool to fight inflation

16

exchange rate movement per pula
Exchange Rate Movement per Pula

Due to dominant weight of ZAR in the Pula basket of currencies, the BWP mirrors the ZAR movement

  • The following currencies appreciated vs BWP:
  • MZN (29.4%)
  • ZMK (8.7%)
  • TZS (7.9%)

17

income statement
Income Statement

Performance driven by increase in net interest income and non-interest income

Impairment high due to loan growth and downgrade in Tanzania & Zimbabwe

Operating expenses higher in line with expansion

20

income statement1
Income Statement

Performance driven by increase in net interest income and non-interest income

Impairment high due to loan growth and downgrade in Tanzania & Zimbabwe

Operating expenses higher in line with expansion

21

attributable profit trend
Attributable Profit Trend

Higher attributable profits driven by increase in core earnings

Upward trend in past 3 years supported by sustainable earnings

BWP’ million

ROE flat due to lower earnings in Tanzania

Dip in 2009 due to dollarization & change in business model

22

income statement segmental analysis
Income Statement- Segmental Analysis

Botswana and Mozambique post solid results on back of improved NII

Zimbabwe continued to perform well in all segments

Zambia performance buoyed by Microfinance

Tanzania affected by downgrade of security on NPL

23

income statement segmental analysis1
Income Statement – Segmental Analysis

Doubled retail income during the year

24

income statement net interest income
Income Statement – Net Interest Income
  • Positive trend in net interest income driven by better liquidity and increased balance sheet size
  • Slight reduction in net interest margins due to reduction in interest rates on consumer lending in Zambia

27

income statement non interest income
Income Statement- Non-interest income

The reduction is due to the impact of IFC convertible loan BWP35 m

29

operating expense per entity
Operating Expense per Entity

BWP’000

Increase in opex due to expansion in Retail & SME Banking

31

income statement cost to income
Income Statement- Cost to Income

Cost to income ratio peaked in 2009 due to change in business model and dollarization in Zimbabwe.

32

balance sheet loans and deposits
Balance Sheet- Loans and Deposits

97% increase in loans

49% CAGR

50% increase in deposits

39% CAGR

37

deposits per entity
Deposits Per Entity

Strong growth in deposits across all entities

38

balance sheet segmental analysis
Balance Sheet – Segmental Analysis

Retail contribution has significantly increased in the last 12 months

39

balance sheet segmental analysis1
Balance Sheet – Segmental Analysis

Retail contributed 8.3% of total deposits (Dec 2010: 3.4%)

41

balance sheet capital adequacy
Balance Sheet – Capital Adequacy
  • There is now need to raise additional capital

42

operational overview

Operational Overview

FRANCIS DZANYA

our footprint banking sector landscape us m

Loans

277

102

76

73

218

2,100

2,755

3,603

3,576

4,584

Deposits

265

328

63

162

140

3,786

3,100

4,478

6,750

5,771

Assets

383

371

196

156

108

4,428

6,398

5,409

9,642

7,380

Mozambique

Zimbabwe

Zambia

Tanzania

Our Footprint – Banking Sector Landscape (US$m)

BancABC Share

Botswana

44

strategy and outlook

Strategy and Outlook

DOUGLAS MUNATSI