Capital market days 2008 - Sergey Tigipko
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Capital market days 2008 - Sergey Tigipko
- 1. 1 Swedbank Ukraine Mr Sergey Tigipko Head of Swedbank Ukraine Capital Markets Day Kiev, 5 March 2008 © Swedbank 2 Agenda • Ukraine – economic data and banking market • Swedbank in Ukraine
- 2. 2 Ukraine – economic data and banking market © Swedbank 4 Country data • Total area: 603,700 sq. km • Population: 47 million • Official language: Ukrainian • Currency: Hryvnya (UAH) • Rate of exchange (29/02/08): USD 1 = UAH 5.05 • Religion: Ukrainian Orthodox (Moscow Patriarchate and Kiev Patriarchate) and Roman Catholic • Independence: 1 December 1991 (from Soviet Union)
- 3. 3 © Swedbank 5 Kazakhstan 2nd largest CEE country by population (million)… 47 38 22 15 10 10 10 7 27 143Russia Ukraine Poland Uzbekistan Romania Belarus Czech Rep Hungary Bulgaria © Swedbank 6 … and one of the fastest growing CEE economies 1 770 3 270 4 270 5 340 7 850 10 910 12 200 Ukraine Bulgaria Romania Russia Poland Hungary Cz Rep 7.3% 9.6% 12.1% 2.6% 7.1% 2.9%3.4% 2.0%2.3% 0.8% 2003 2004 2005 2006 2007 Ukraine EU 16.6% 11.6%10.3% 12.3% 8.2% 2.0% 2.1% 2.1% 2.2% 3.1% 2003 2004 2005 2006 2007 7.6% 7.1% 6.2% 5.5% 5.2% 5.0% 4.5% Ukraine Russia Romania Bulgaria Cz Rep Poland Hungary Superior historic economic growth… …with plenty of room for further growth The dynamics of GDP… …and inflation 2007: US$ 1,944 Average GDP (2003-07) GDP per capita, US$ (2006) , , , , , , ,
- 4. 4 © Swedbank 7 Plenty of room for further growth in Ukrainian banking… 122% 112% 107% 95% 85% 64% 64% 56% Latvia Estonia Cz Rep Slovakia Hungary Lithuania Poland Ukraine Total assets/GDP (2006) © Swedbank 8 …and for further growth in profitability 27.3% 24.8% 24.6% 24.1% 22.4% 17.5% 17.2% 13.5% 13.4% Latvia Hungary Estonia Cz Rep Poland Slovakia Lithuania Ukraine Slovenia 1.8% 1.8% 1.8% 1.7% 1.6% 1.3% 1.0% 0.9% 0.7% Poland Hungary Estonia Latvia Ukraine Cz Rep Slovakia Lithuania Slovenia ROE (2006) ROA (2006)
- 5. 5 © Swedbank 9 30.4 15.4 6.6 2.81.7 2003 2004 2005 2006 2007 Superior growth of Ukrainian banking market in 2007… Loans to private clients, US$bn 54.7 33.2 21.6 13.710.9 2003 2004 2005 2006 2007 32.4 21 14.4 7.86 2003 2004 2005 2006 2007 22.2 15.2 12.1 7.6 5.3 2003 2004 2005 2006 2007 Loans to corporate clients, US$bn Corporate client accounts, US$bnPrivate client accounts, US$bn 65% 136% 133% 97% 26% 58% 54% 65% 30% 85% 46% 84% 43% 59% 26% 46% © Swedbank 10 …and growing presence of foreign banks 11% 10% 20% 28% 35% 2003 2004 2005 2006 2007 12% 12% 14% 21% 27% 2003 2004 2005 2006 2007 Percentage of foreign owned banks Foreign owned banks’ percentage of share capital 44 foreign banks have entered the Ukrainian market, including…
- 6. 6 © Swedbank 11 Market leaders 152.0%2.4Swedbank 142.1%2.5Kreditprombank 132.3%2.8FUIB 122.4%2.9Forum 112.4%2.9Finance & Credit 102.5%3.0ALFA-BANK 93.0%3.5ОTP Bank 83.2%3.8Oshchadniy Bank 73.5%4.2Nadra Bank 64.4%5.2Prominvestbank 54.8%5.7Ukreximbank 45.2%6.2Ukrsotsbank (UniCredit) 36.3%7.5UkrSibbank (BNP Paribas) 27.4%8.8Raiffeisen Bank Aval 19.4%11.1PrivatBank Ranking by total assets Market share by total assets Total assets, US$bn 01/01/2008 Swedbank in Ukraine
- 7. 7 © Swedbank 13 History of Swedbank History of Swedbank-Invest 1991 TAS-Kommerzbank established under the name of Bank Intellect 1996 Bank Intellect becomes a subsidiary of Privatbank and is renamed Bank Kyiv-Privat 2001 Bank Kyiv-Privat becomes part of TAS Group 1996 Established as Société Générale Ukraine 2001 Bank becomes part of TAS Group 2007 Swedbank AB purchases 100% of equity 2005-06 TAS-Kommerzbank acquires 100% of equity 2007 Swedbank-Finance banking holding group is established and TAS-Kommerzbank is renamed Swedbank 2007 Decision to change the name of TAS-Investbank to Swedbank-Invest History of Swedbank-Finance © Swedbank 14 Ownership structure Swedbank Swedbank-Invest banking holding group Swedbank-Finance 100 % 100 %
- 8. 8 © Swedbank 15 Swedbank-Finance: highlights • Lutzk • Poltava • Chernovtsi • Rouno • Chernigov • Kharkov • Latsk • Lvov • Vinitsa • Cherkasy • Donetsk • Odessa • Nikolaev • Zhitomir • Kiev • Uthgorod • Rovno • Kharkov • Kherson • Khmelnytsky • Ivano• - • Frankovsk • Ternopol Lutzk Poltava Chernovtsi Rouno Chernigov Lugansk Zaporozhie Lvov Vinitsa Cherkasy Kirovograd Donetsk Dnepropetrovsk Odessa Nikolaev Zhitomir Kiev Uthgorod Kharkov Kherson Sumy Khmelnytsky Frankovsk Ternopol Simferopol Key financials and statistics (01/01/08), US$m Total assets 2,230 Customer loans 1,773 Customer deposits 890 Shareholders’ equity 147 Net profit (2007) 22.3 Outlets 191 FTE 3,289 Corporate clients 17,814 Private clients 166,915 © Swedbank 16 Market growth of corporate client business to date… 1,075 519 350 187 101 2003 2004 2005 2006 2007 26% 58% 54% 65% 107% 48% 87%85% 2004 2005 2006 2007 Ukraine Swedbank-Finance 547 328 261 8678 2003 2004 2005 2006 2007 43% 59% 26% 46% 67% 26% 203% 10% 2004 2005 2006 2007 Ukraine Swedbank-Finance Loans to corporate clients, US$m Net growth of loans to corporate clients Corporate client accounts, US$m Net growth of corporate client accounts
- 9. 9 © Swedbank 17 …and clear vision of future Project financing and factoring Reorganization of network and new sales structure New strategy has been developed and is being implemented Active position in the international borrowing market Focus on mid-size companies and SMEs Products developed in accordance with target segments’ needs Corporate clients Mid-size clients: 12 corporate centres SMEs: 48 corporate branches Swedbank-Invest: leader in new project financing Swedbank: strong position in factoring market Cooperation with number of banks and financial institutions supported by Swedbank Group Swedbank-Invest: mid-size and large clients Swedbank: SMEs and mid-size clients Deloitte support © Swedbank 18 Clearly defined RETAIL strategy… Effective risk management Strong nationwide distribution New strategy developed and implemented Active marketing and promotion Identification of groups of targeted clients Optimized products Private clients 191 branches Cooperation with financial agents Call Centre Internet banking Establishment of debt collection company Nationwide advertising company Re-branding Focus on mass market clients Mortgage Cash loans Deposits Credit cards
- 10. 10 © Swedbank 19 …enhances opportunities in the growth market 65% 136% 133% 97% 104% 220% 245% 121% 2004 2005 2006 2007 Ukraine Swedbank-Finance 698 342 107 3114 2003 2004 2005 2006 2007 Loans to private clients, US$m Net growth of loans to private clients 343337 154 6860 2003 2004 2005 2006 2007 30% 85% 46% 84% 2% 119%126% 13% 2004 2005 2006 2007 Ukraine Swedbank-Finance Private client deposits, US$m Net growth of private client deposits © Swedbank 20 Positive synergies… » Transfer of knowledge and infrastructure » Scalable group services » Diversified funding base • Risk and credit management • Products and roll-outs • Strategies • Structures • Procurement • IT systems • Shared services • … Synergies for profitability and growth
- 11. 11 © Swedbank 21 …mean we can look ahead with confidence Retail loans & deposits 342 698 337 343 Dec 06 Dec 07 Dec 08 Loans, US$m Deposits, US$m Corporate loans & deposits 519 1,075 328 547 Dec 06 Dec 07 Dec 08 Loans, US$m Deposits US$m Net profit, US$m 22.3 6.6 2006 2007 2008 Shareholders’ equity & total assets , , 131 147 1 001 2 230 Dec 06 Dec 07 Dec 08 Shareholders’ equity, US$m Total assets, US$m © Swedbank 22 Summary • Superior growth of Ukrainian banking market in last few years and plenty of room for further growth • Swedbank-Finance – the universal bank with clear defined retail and corporate strategies • Synergies with Swedbank Group for profitability and growth
- 12. 12 © Swedbank 23