1 / 21

GFNORTE 2Q09 Results

GFNORTE 2Q09 Results. Conference Call July 24, 2009. Yearly Recap GFNorte. Million Pesos. 1S08. 1S09. Net Income. 3,735. 2,923. ( 22%). Recurring Net Income. 3,396. 2,923. ( 14%). ROE. 21.8%. 15.2%. ROA. 2.5%. 1.0%*. Efficiency. 53.9%. 52.3%. Net Interest Margin.

quasim
Download Presentation

GFNORTE 2Q09 Results

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. GFNORTE 2Q09 Results Conference Call July 24, 2009.

  2. YearlyRecapGFNorte Million Pesos 1S08 1S09 Net Income 3,735 2,923 (22%) Recurring Net Income 3,396 2,923 (14%) ROE 21.8% 15.2% ROA 2.5% 1.0%* Efficiency 53.9% 52.3% Net InterestMargin 7.6% 4.4%* PastDue Loan Ratio 1.5% 2.6% Coverage Ratio 131% 102% Capitalization Ratio 15.7% 15.6% Liquidity Ratio 55.9% 63.1% BookValue Per Share 18.12 7% 19.30 * Includes repos reclassified as balance sheetassets.

  3. Income Statement MILLION PESOS 2Q08 1Q09 2Q09 QoQ YoY (6%) Net Interest Income 5,225 6,199 5,838 12% (7%) Non Interest Income 1,971 2,070 1,922 (2%) (1%) Service Fees 1,695 1,465 1,454 (14%) 19% Recovery 117 138 164 40% (35%) FX & Trading 159 242 157 (1%) (35%) Other Income and Expense - 226 147 100% (6%) Total Income 7,196 8,269 7,760 8% Non Interest Expense (7%) (3,903) (4,341) (4,037) 3% Net Operating Income (5%) 3,293 3,928 3,723 13% Provisions 1% (1,255) (2,162) (2,188) 74% Non Operating Income, Net (55%) 425 576 193 (66%) Income Tax (25%) (574) (751) (429) (43%) Subs & Minority Interest (333%) (6) (57) 14 (125%) (19%) Net Income 1,806 1,611 1,312 (27%) Recurring Net Income (25%) (27%) 1,742 1,611 1,312

  4. Non Interest Expense BILLION PESOS 2Q08 1Q09 2Q09 QoQ YoY 7.2 8.3 7.8 (6%) 8% Total Income 3.9 4.3 4.0 (7%) 3% Non Interest Expense EFFICIENCY RATIO 54% 53% 52% 2Q09 1Q09 2Q08

  5. Deposits BILLION PESOS Change 1Q09 2Q08 2Q09 QoQ YoY Demand 107 120 124 3% 16% 82 64 83 1% 29% Time 171 203 207 2% 21% Core Deposits Money Market 50 53 59 11% 16% Total 221 255 265 4% 20%

  6. Performing Loan Portfolio BILLION PESOS 235 235 217 2Q08 1Q09 2Q09 Change 2Q08 1Q09 2Q09 QoQ YoY Consumer 71 74 74 (1%) 4% 79 89 86 (3%) 10% Commercial 43 44 43 (2%) 0% Corporate 24 29 32 12% 31% Government Total 217 235 235 0% 8%

  7. Performing Consumer Loan Portfolio BILLION PESOS 74 74 71 2Q08 1Q09 2Q09 Change 2Q08 1Q09 2Q09 QoQ YoY Mortgage 40 46 47 2% 17% Car 8 8 7 (2%) (2%) 16 14 13 (7%) (20%) Credit Card 7 6 6 (1%) (4%) Payroll / Personal 71 74 74 (1%) 4% Consumer

  8. Loans to Deposits Ratio TOTAL LOANS /TOTAL DEPOSITS 103% 99% 97% 93% 92% 88% 2Q08 1Q08 3Q08 4Q08 1Q09 2Q09

  9. Asset Quality BILLION PESOS 2Q08 1Q09 2Q09 Total Loan Portfolio 220 239 238 Past Due Loans 3.2 5.6 6.3 Loan Loss Reserves 4.2 6.1 6.4 PAST DUE LOAN RATIO RESERVE COVERAGE RATIO 131% 2.6% 2.3% 109% 102% 1.5% 2Q08 1Q09 2Q09 2Q08 1Q09 2Q09

  10. Provisions As a % of Average Gross Loans 3.6% 3.6% 2.4% 2Q09 1Q09 2Q08

  11. Past Due Loans 2Q08 1Q09 2Q09 Credit Cards 6.7% 13.6% 14.4% 2.3% 2.9% 3.0% Payroll 1.9% 2.5% 3.0% Car 1.5% 1.7% 1.9% Mortgage 1.5% Commercial 2.6% 3.4% Corporate 0% 0% 0.1% Government 0% 0% 0% 11

  12. Capitalization 2Q08 1Q09 2Q09 Tier 1 10.7% 9.7% 10.7% Tier 2 5.0% 4.9% 4.9% TOTAL 15.7% 14.6% 15.6% % Tier 1 68% 66% 69% 12

  13. IFC’s Investment in Banorte • IFC is a member of the World Bank Group. • Promotes sustainable economic growth in emerging markets. • Characteristics: • IFC will have an equity stake in BancoMercantil del Norte. • Banorte’s Board of Directors has approved the investment. • Approval by IFC’s Board and the Mexican authorities is still pending. • Long term investment. • Benefits: • Increase Banorte’s Tier 1 ratio. • Banorte and IFC will collaborate in various expansion programs. • Leverage IFC’s expertise in social responsibility, corporate practices and environmental protection.

  14. Subsidiaries

  15. Recovery Bank MILLION PESOS 1H08 1H09 Net Income 318 219 AUM BILLION PESOS 2Q08 2Q09 % 50% 19.2 28.9 Banorte’s Assets (18%) 38.7 32.0 Acquired Assets 22% 2.6 3.2 Investment Projects 6% 1.4 1.5 IPAB 6% 62.0 66.0 Total

  16. Long Term Savings NET INCOME IN MILLION PESOS 2Q08 2Q09 Total 64 61 AFORE ANNUITIES INSURANCE 58 43 22 6 2Q09 0 2Q08 2Q09 2Q08 2Q08 2Q09 (4)

  17. Retirement Pension Fund Acquisition Strategies • Afore IXE client portfolio acquisition. • Transfer of 312,489 clients. • Ps 5.4 billion in AUM, nearly 10% of Afore Banorte-Generali’s AUMs. • Afore AhorraAhora client portfolio acquisition. • Transfer of 367,660 clients. • Ps $1.14 billion in AUM, 1.86% of Afore Banorte-Generali’s AUMs. • Through these acquisitions, Banorte becomes the 4th largest player in terms of accounts managed.

  18. Subsidiaries NET INCOME IN MILLION PESOS WAREHOUSING BROKER DEALER LEASING AND FACTORING 143 106 78 32 7 7 2Q08 2Q09 2Q08 2Q09 2Q08 2Q09

  19. Inter National Bank MILLION DOLLARS IN US GAAP 2Q08 2Q09 Change 16.3 13.6 (16%) Net Interest Income 3.7 4.1 11% Non Interest Income Total Income 20.0 17.8 (11%) Non Interest Expense 8.7 9.8 12% Loan Loss Reserves 2.2 12.8 482% Net Income 6.0 (3.0) (150%) 1,086 1,018 7% Performing Loans 13.5 56.9 321% Past Due Loans 707 730 3% Demand Deposits 713 964 35% Time Deposits 19

  20. Inter National Bank Financial Ratios (%) 2Q08 2Q09 Change 4.2 MIN 3.3 (0.9 pp) ROE 18.7 (4.6) (23.3 pp) ROA 1.4 (0.6) (2.0 pp) Efficiency 43.7 55.2 11.4 pp PDL Ratio 1.3 4.9 3.6 pp Reserve Coverage 96.6 37.4 (59.2 pp) Capitalization Ratio 11.6 14.1 2.5 pp Tier 1 Capital 8.2 7.8 (0.4 pp)

More Related