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Best Asian Bank Best Asian Bank 1 1 April 2014 Investor Presentation Presentation Outline I. OVERVIEW II. FINANCIAL HIGHLIGHTS III. OWNERSHIP, BOARD, AND MANAGEMENT IV. AWARDS AND CITATIONS About BDO • The Philippines’ largest bank as at 31 Dec 2013 with total assets of P1.7 Tn (USD 37.7 Bn). • A full service universal bank with one of the widest networks of over 800 operating branches and more than 2,200 ATMs nationwide. • Has one of the country’s strongest Board of Directors in terms of banking experience and corporate governance. • Part of the SM Group, one of the country’s largest conglomerates. 4 Full Service Bank Complete range of financial products and services Branch Transaction Consumer Insurance Trust Banking Banking Banking Lending Deposit and Cash management Brokerage Investment Auto related products services Bancassurance management Mortgage Over-the-counter Electronic banking Unit investment Credit cards transactions trust funds ATMs Personal loans Cross-selling Prepaid cards Living trusts distribution platform Merchant acquiring Retirement funds Remittances Special trusts / custodianship Corporate & Investment Private Treasury Leasing & Institutional Banking Banking Services Finance Banking Corporate and Underwriting and Wealth advisory Fixed income Direct lease, sale middle market distribution of Customized portfolio dealership and leaseback lending Fixed income and management Foreign exchange arrangements Trade finance equity securities transactions Installment paper Specialized lending Financial advisory Portfolio purchases Financial Institutions Project finance management Receivable discounting Cross-border Loan syndication Liquidity and factoring financing management 5 Market Reach Wide and extensive coverage in key areas Philippines 824 Middle Europe East 2 1 North Luzon 248 America SEA, HK & M. Manila 427 3 Taiwan 8 Visayas 90 Mindanao 59 824 Domestic Branches 14 International Offices 2,339 Domestic ATM’s as of 8 April 2014 6 Industry Ranking No. 1 among Philippine banks Total Assets Gross Customer Loans (in PHP billions) (in PHP billions) 1,678 911 1,378 BDO Market Share – 17% 645 BDO Market Share – 21% 1,183 606 843 599 282 437 253 224 427 412 391 347 213 162 125 118 MBT BPI LBP PNB DBP RCBC China UBP SECB BPI MBT LBP PNB China RCBC SECB DBP UBP Customer Deposits Assets Under Management (in PHP billions) (in PHP billions) 1,345 773 BDO Market Share – 18% BDO Market Share – 30% 1,017 991 576 706 325 460 354 218 299 297 251 233 95 79 67 66 64 57 MBT BPI LBP PNB China UBP RCBC DBP UCPB BPI MBT SChart UCPB RCBC China HSBC DBP LBP Source: Company data, consolidated statements of condition (SOC). Ranking as at 31 December 2013 Note: Financials prepared by banks under BSP’s SOC requirements differ slightly from reported financials under SEC guidelines due to certain differences in accounting rules requested by the two authorities 7 Business Franchise Market-leading positions in almost all business lines #1 #1 #1 #1 #1 Trust and Private Loans Deposits Remittance Asset Mgt Banking Leading Trade Major Player in Services Provider1 Cash Management2 #2 #1 #1 Local #1 Leasing & Investment Insurance Credit Cards3 Finance Banking4 Brokerage5 Notes: 1 According to The Asian Banker, Global Finance, The Asset, & Trade Finance Magazine 2 According to The Asset 3 In terms of cardholder base & merchant acquiring gross billings 4 In terms of corporate issuances 8 5 No. 1 among insurance brokers in terms of commissions earned for 2012; No. 3 in terms of premiums produced (No. 1 among local firms) Milestones Expansion through organic growth and M&A Acquired Citi Savings Bank P1.2 TN P1.7 TN Acquired UOB Philippines’ Acquired GE branch banking business Money Bank Acquired 1st e-Bank’s Acquired Rural banking business P617 BN P1.0 TN Bank of San Juan Acquired by P862 BN SM Group Merged with Dao Heng Bank Philippines P149 BN Est. as Acme Merged with Equitable KB license P234 BN Savings Bank PCI Bank. P36 BN Acquired Amex Savings P121 BN Acquired Bank Philippines Banco P77 BN Santander Assets U/KB license Philippines P13 BN 1968 1976 1994 1996 2001 2002 2003 2005 2007 2009 2010 2012 2013 2014 Commercial Bank Expansion 9 Trading Fact Sheet Stock Details Type Common Shares Stock Ticker BDO ISIN PHY077751022 Exchange Philippine Stock Exchage Par Value P10.00 Outstanding No. of Shares 3,580,875,328 Foreign Owneship Up to 40% American Depositary Receipts (ADR) Program Details Type Sponsored Level 1 ADR ADR Ticker BDOUY ISIN US05537Y3045 Ratio 1 ADR = 10 Ordinary Shares Depositary Bank Deutsche Bank Trust Company Americas Contact Details ADR Broker Helpline Tel (New York) + 1 212 250 9100 Tel (London) + 44 207 547 6500 Email [email protected] ADR website www.adr.db.com Depositary Bank's Local Custodian Deutsche Bank AG, Manila Branch 10 Presentation Outline I. OVERVIEW II. FINANCIAL HIGHLIGHTS III. OWNERSHIP, BOARD, AND MANAGEMENT IV. AWARDS AND CITATIONS 2009 to 2013 Income Statement (in PHP billion) 2009 2010 2011 2012 2013 Interest Income 48.8 49.9 50.5 54.0 56.6 Interest Expense 18.3 15.8 16.7 17.9 13.4 Net Interest Income 30.6 34.2 33.8 36.1 43.2 Non-interest Income 15.5 17.8 20.9 24.4 31.8 Fee Income 9.6 10.4 12.3 13.4 15.5 Trading & FX 3.6 5.8 5.6 8.2 12.8 Others 2.3 1.6 3.0 2.8 3.6 Gross Op Income 46.0 52.0 54.7 60.6 75.0 Operating Expense 32.1 34.8 36.3 39.5 43.2 Pre-Prov Op Profit 13.9 17.2 18.4 21.1 31.8 Provisions 6.2 6.7 6.1 4.9 7.0 Taxes 1.7 1.6 1.6 1.6 2.1 Net Income 6.0 8.8 10.5 14.5 22.6 12 2009 to 2013 Balance Sheet (in PHP billion) 2009 2010 2011 2012 2013 Resources Reserve Assets 176.6 229.6 203.5 201.2 491.5 Investment Securities 171.7 197.3 188.4 237.3 227.9 Gross Customer Loans 472.7 541.5 670.1 769.0 911.5 Investment Properties (net) 13.8 12.0 10.1 9.1 10.4 Other Assets 27.2 20.5 25.1 25.0 31.5 Total Resources 862.0 1,000.9 1,097.3 1,241.6 1,672.8 Liabilities Deposits 694.7 782.6 858.6 931.6 1,345.3 Bills Payable/Sub-Notes 54.6 89.0 97.7 72.2 94.2 Other Liabilities 44.9 40.5 44.4 55.2 65.8 Total Liabilities 794.2 912.1 1,000.4 1,087.2 1,508.4 Total Capital 67.9 88.7 97.0 154.4 164.4 Total Liabilities & Capital 862.0 1,000.9 1,097.3 1,241.6 1,672.8 13 Key Growth Indicators Steady expansion in core businesses Gross Customer Loans Deposits (P bn) (P bn) 1,450 1,000 900 1,300 1,345 800 911 1,150 700 769 1,000 600 670 850 932 500 859 542 700 783 400 473 695 550 637 300 393 400 200 100 250 0 100 2008 2009 2010 2011 2012 2013 2008 2009 2010 2011 2012 2013 YoY Gr 32% 20% 15% 24% 15% 19% YoY Gr 43% 9% 13% 10% 9% 44% 14 Net Income Sustained growth with record profits in 2013 (P bn) 24 22 22.6 20 18 16 14 12 14.5 10 10.5 8 8.8 6 4 6.0 2 2.2 0 2008 2009 2010 2011 2012 2013 15 Capital Adequacy Ratio (Consolidated) Strong capital base to support growth Comfortably above Basel III requirements 20% 19.1% 3.9% 15.6% 17.1% 14.5% Tier 2 15% 13.5% 14.0% 1.2% 5.6% Tier 1 12.4% 4.6% 4.0% 15.2% 14.6% 4.5% 4.1% 10% Min Total CAR per Basel II 9.9% 10.0% 10.0% 9.0% 8.3% Min Tier 1 per 5% Basel II 0% 2007 2008 2009 2010 2011 2012 2013 16 The Banker Top 1000 World Banks – Tier 1 Capital Tier 1 Capital Ranking of Philippine Banks (as of 31 December 2012) World Rank Country Name of Tier 1 Capital Current Previous Rank Bank (in USD mn) 251 396 1 BDO Unibank, Inc. 3,413 333 375 2 Metropolitan Bank & Trust 2,400 386 409 3 Bank of the Phil. Islands 1,985 642 645 4 Rizal Commercial Banking 902 655 706 5 Security Bank 871 663 n/a 6 China Bank 858 702 768 7 Union Bank of the Phils. 759 765 699 8 Philippine National Bank 644 986 n/a 9 Philtrust Bank 355 992 n/a 10 East West Banking Corp. 351 17 Credit Ratings Moody's Fitch Capital Intelligence Date 31 Mar 2014 16 May 2013 8 Oct 2013 Issuer/Debt Rating (IDR) - Long Term Baa3 BB+ BB+ - Short Term Prime-3 B Outlook Positive Stable Positive Bank Financial Strength Rating D+ bb+ BBB- (BFSR)/Individual/Viability Rating Outlook Stable Stable Baseline Credit Assessment (BCA) baa3 Adjusted BCA Rating baa3 Source: Moodys, Fitch and Capital Intelligence 18 Presentation Outline I. OVERVIEW II. FINANCIAL HIGHLIGHTS III. OWNERSHIP, BOARD, AND MANAGEMENT IV. AWARDS AND CITATIONS Shareholder Structure Majority owned by the SM Group Top Shareholders as of 31 Dec 2013 SM Investments Corp. 40.9% PCD Nominee Corp. (Non-Filipino) 30.0% PCD Nominee Corp. (Filipino) 11.2% Multi-Realty Development Corporation 8.8% Sybase Equity Investments Corporation 5.1% Sub-Total, Top Shareholders 96.0% Source: Top 100 Shareholders as of 31 Dec 2013 20 The SM Group Harnessing synergies with the country’s largest conglomerate Access to SM’s • Largest local retail chain with 241 customer network stores nationwide • Almost 16,000 Philippine Retail • Dominant domestic mall tenants developer/operator - 48 malls with • More than 5,000 suppliers GFA of almost 6.2 mn sqm • 3.5 million average daily foot traffic • In-house business • Home mortgage financing for SM property projects Financial • Biggest domestic banking operations New business Services • Interests in BDO and China Bank opportunity • Goodwill from the SM franchise • Joint product development • Leading residential condominium SM expertise developer in Metro Manila in terms • Middle market knowledge of units sold • Expertise in retail market Property • Among the fastest growing and real estate commercial, resorts and hotel Branch locations developers in the Philippines • Branches, ATMs in SM malls 21 Board of Directors One of the strongest Board of Directors in the industry Experienced .
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