Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Resilient Always
KEy BaLaNCE ShEET daTa (Rmmillion) Total assets Loans, advances and financing Total liabilities Deposits from customers Core customer deposits Paid-up capital Shareholders equity Commitments and contingencies 274,625 196,052 255,981 225,042 177,035 3,532 17,944 79,458 250,559 175,953 234,140 200,371 157,297 3,532 15,722 70,847 226,988 154,864 212,644 176,872 143,639 3,532 13,692 69,206 217,136 135,336 205,421 170,892 127,623 3,532 11,023 61,435 196,163 118,386 185,934 151,185 111,204 3,532 9,537 52,867
ShaRE INfoRmaTIoN aNd VaLuaTIoN Share Information Per share (sen) Basic/Diluted earnings Net dividend Cash dividend Share dividend Net assets Share price as at 31 December (RM) Local Foreign Market capitalisation (RM'Million) Valuations (Local Share) Net dividend yield (%) Net dividend yield (including share dividend) (%) Dividend payout ratio (%) Dividend payout ratio (including share dividend) (%) Price to earnings multiple (times) Price to book multiple (times) 3.1 3.1 45.3 45.3 14.7 3.2 3.6 3.6 48.3 48.3 12.7 3.0 3.5 3.5 52.3 52.3 14.9 3.3 3.7 5.1 56.6 79.3 15.4 3.5 4.6 7.5 53.2 84.8 11.5 3.1 110.5 50.0 512.4 16.28 16.30 57,521 105.2 48.0 448.9 13.38 13.20 47,066 87.2 45.5 391.0 13.02 13.00 45,964 73.3 41.3 1 for 68 319.4 11.30 11.26 39,868 76.9 41.0 1 for 35 284.2 8.85 8.75 31,152
RM 5.10b
0.7%
12.3%
Year Ended 31 December fINaNCIaL RaTIoS (%) Profitability Ratios Net interest margin on average interest bearing assets 1 Net return on equity 2 Return on average assets Return on average risk-weighted assets Cost/income ratio Asset Quality Ratios Net loan to deposit ratio Gross impaired loans ratio 3 Loan loss coverage Capital Adequacy Ratios Tier I capital ratio Risk-weighted capital ratio Capital base (RMMillion) Tier 1 equity capital debt capital Tier 2 loan impairment reserves debt capital Others 11.4 14.6 26,298 16,544 3,893 1,038 4,870 (47) 11.2 15.6 25,416 14,334 3,916 1,073 6,138 (45) 11.3 14.2 19,992 12,040 3,896 1,002 3,102 (48) 87.1 0.7 126.0 87.8 0.9 113.8 87.6 1.1 94.2 3.1 24.5 1.9 3.0 30.5 3.3 26.8 2.0 3.2 29.8 3.4 27.1 1.8 3.1 30.7 2012 2011# 2010#
11.3%
2009 2008 3.2 26.1 1.6 2.8 32.6 3.2 30.4 1.8 3.2 31.2
PRoduCTIVITy RaTIoS No. of employees Gross loan per employee (RM000) Deposits per employee (RM000) Profit before tax per employee (RM000) 17,625 11,222 12,768 290 17,511 10,148 11,443 279 17,369 9,013 10,183 235 17,169 8,015 9,953 193 16,160 7,467 9,356 209
maRKET ShaRE (%) Domestic market share Loans, advances & financing Deposits from customers Core customer deposits
1 2 3
^ #
Excluding negotiable instruments of deposit and money market deposits which are on-lent to interbank. Based on equity attributable to equity holders of the Bank, adjusted for dividend declared subsequent to year end. FYE 2009 to 2012 are based on a more stringent criteria on classification of impaired loans under MFRS/FRS 139. FYE 2008 is based on 3 months classification under BNM/GP3. Restated due to the adoption of FRS 139. Restated as a result of retrospective application of MFRS 139. For FYE 2010, only relevant balance sheet items have been restated to position as at 1 January 2011.
Resilient Always
2008
2009
2010
2011
2012
Year
30
20
10
2008
2009
2010
2011
2012
Year
Net return on equity Net return on equity (excluding once-off ING goodwill income)
100 90
16.6
40
2008
2009
2010
2011
2012
0 Year
Ordinary net dividend per share-sen Share dividend per share-sen Dividend payout ratio (excluding share dividend) Dividend payout ratio (including share dividend)
16.30
13.00
Year Share price Public Bank (Local) Share price Public Bank (Foreign)
Resilient Always
100 90 80 70 60 50 40 30 20 10 0
2008
2009
Customer deposits Net loan/deposit ratio
2010
2011
2012
Year
2008
2009
Total assets
2010
2011
2012
Year
1.4
1.2
1.0
0.8
1.0
0.4
2008
2009
2010
2011
2012
Year
* Old GP3 loans in arrears for 3 months or more ** MFRS 139 loans in arrears for 3 months or more and significant loans below 3 months which show indications of impairment
159.7
150
120.3^
100
113.8* 94.2*
126.0
50
2008
2009
Loan loss coverage
2010
2011
2012
Year
10
Resilient Always
sEgMEnTAl AnAlysis
2011
Domestic 16.9% 46.1% 6.6% 12.0% 1.5% 6.8% 2.3% Overseas 5.8% 1.7% 0.3% Hong Kong SAR Cambodia Other countries Hire purchase Retail operations Corporate lending Treasury and capital market operations Investment banking Fund management Others
Operating Revenue
2012
Domestic 16.0% 48.0% 6.9% 11.8% Hire purchase Retail operations Corporate lending Treasury and capital market operations Investment banking Fund management Others
2011
2012
2011
Domestic 13.2% 57.0% 6.3% 6.6% 1.0% 6.6% 3.2% Overseas 3.6% 1.9% 0.6% Hong Kong SAR Cambodia Other countries Hire purchase Retail operations Corporate lending Treasury and capital market operations Investment banking Fund management Others
2012
Domestic 13.1% 58.5% 6.3% 6.6% Hire purchase Retail operations Corporate lending Treasury and capital market operations Investment banking Fund management Others
2011
2012
2011
Domestic 12.8% 49.3% 7.5% 22.0% 1.6% 0.1% 0.1% Overseas 5.3% 1.1% 0.2% Hong Kong SAR Cambodia Other countries Hire purchase Retail operations Corporate lending Treasury and capital market operations Investment banking Fund management Others
Total Assets
2012
Domestic 12.7% 51.0% 7.3% Hire purchase Retail operations Corporate lending Treasury and capital market operations Investment banking Fund management Others
2011
2012
11
4,597.4 3.4%
3.3%
2010
2011
Net interest income
2012
Net int margin (exclude funds from MMD and NIDs issued) Net int margin
12
Resilient Always
2012 RM000 Net fee and commission income of which: Net commission, service charges and fees Net brokerage and commissions Income from fund management activities Net gains and losses on financial instruments Other income of which: Profits from foreign exchange business Total other operating income 225,445 1,648,298 394,684 75,509 557,126 170,244 312,741 1,165,313
2011 RM000 1,118,909 360,794 100,946 525,317 166,154 280,234 217,563 1,565,297
Variance RM000 46,404 33,890 (25,437) 31,809 4,090 32,507 7,882 83,001 % 4.1 9.4 (25.2) 6.1 2.5 11.6 3.6 5.3
10% 19%
34%
71%
24%
5% 8%
The Public Bank Groups net fee and commission income grew by RM46.4 million or 4.1% in 2012 to RM1,165.3 million, led by strong performance of the Groups fund management business which reported an increase in income of RM31.8 million or 6.1% to RM557.1 million. This was supported by the growth in net asset value of unit trust funds under management by 22.0% to RM54.58 billion as compared to RM44.75 billion in 2011. Net commission, service charges and fees increased to RM394.7 million in 2012, representing a 9.4% growth from 2011. Net brokerage and commissions from stock-broking activities contributed RM75.5 million to the Groups total other operating income in 2012. Net gains and losses on financial instruments rose by RM4.1 million or 2.5% to RM170.2 million in 2012. Other income increased by RM32.5 million or 11.6% to RM312.7 million in 2012 as a result of gain on revaluation of investment properties in Hong Kong and higher volume of the Groups foreign exchange business.
Net fee and commission income Net gains and losses on nancial instruments Other income Income from fund management activities Net commission, service charges and fees Net brokerage and commissions Other fee and commission income
13
Personnel cost
143.6 138.5 2,000 155.3 453.9 419.1 1,500 152.0
1,000 1,495.8
1,611.4
Personnel cost rose by 7.7% to RM1,611.4 million in 2012 primarily due to annual salary expense and higher headcounts to support business expansion. The Public Bank Groups staff force expanded to 17,625 as at the end of 2012 from 17,511 a year ago. establishment cost accounted for 19.2% of total other operating expenses of the Group. In 2012, establishment cost increased by 8.3% from RM419.1 million in 2011 to RM453.9 million in 2012 due to the opening of new branches and investment in infrastructure to support expansion in business volume.
500
2011
2012
Personnel cost Establishment cost Marketing expenses
Year
The Groups marketing expenses decreased by 2.1% to RM152.0 million in 2012 whilst administration and general expenses increased by 3.7% to RM143.6 million in 2012, accounting for 6.4% and 6.1% respectively of the Groups total other operating expenses.
14
Resilient Always
300
250 200
167.0 132.0
Impairment Loss
150
100
159.7*
147.2
Impairment loss on foreclosed properties and financial investments available-for-sale amounted to RM6.6 million in 2012 as compared to impairment loss written back of RM1.6 million in 2011.
50 0 Year
In 2012, the Public Bank Groups tax expense increased by RM38.7 million or 3.4% to RM1,192.2 million consistent with the higher reported pre-tax profits. The Groups effective tax rate was 23.4% in 2012, lower than Malaysias statutory tax rate of 25.0% mainly due to certain income not subject to tax and the effects of lower tax rates in jurisdictions outside Malaysia.
Restated due to retrospective application of MFRS 139 which resulted in a change in accounting policy on collective assessment allowance for loans
15
2011# RMMillion
Variance RMMillion
Total assets
The Public Bank Groups total assets stood at RM274.63 billion as at 31 December 2012, an increase of RM24.07 billion or 9.6% over the previous financial year. The increase was the result of another year of strong loan growth of 11.3% despite the intense competition. As at the end of December 2012, net loans, advances and financing accounted for 71.4% of the Groups total assets as compared to 70.2% in the previous year. The proportion of interest-bearing assets has remained high at 93.2% at the end of 2012.
16
Resilient Always
financial Investments
The Groups financial investments comprise primarily of government-related securities and money market instruments, which are mainly held for yield and liquidity purposes. Holdings of trading book positions, classified under financial assets held-for-trading has increased by RM5.96 billion mainly due to an increase in holdings of government-related securities and money market instruments. As at the end of 2012, financial assets held-for-trading comprised 41.5% of the Groups financial investments. The Groups banking book positions are held under its financial investments available-for-sale and financial investments held-to-maturity portfolios. Financial investments available-for-sale increased marginally by RM0.48 billion due to higher holdings of government-related securities, whereas financial investments held-to-maturity decreased by RM1.37 billion as a result of decreased holdings of money market instruments. As at 31 December 2012, 42.9% and 15.6% of the Groups financial investments were held in financial investments available-for-sale and financial investments held-to-maturity respectively.
other liabilities
Other liabilities increased by RM1.50 billion, mainly due to the increase in bills and acceptances payable and recourse obligations on loans and financing sold to Cagamas by RM0.95 billion and RM0.49 billion respectively.