Morrow Bank AB · OMXSTO:MORROW
Morrow Bank AB — Komplett Bank — Q1 2018 Earnings Presentation
19 slides from Morrow Bank AB's earnings presentation, May 10, 2018
Slide 1: First Quarter 2018
@ KOMPLETT’bank.no FIRST QUARTER 2018
Slide 2: Disclaimer
Disclaimer This Presentation has been produced by Komplett Bank ASA (the “Company” or “Komplett Bank”), solely for use at the presentation to investors and is strictly confidential and may not be reproduced or redistributed, in whole or in part, to any other person. To the best of the knowledge of t
Slide 3: Highlights
@ KOMPLETTbank.no Highlights
Slide 4: Solid growth continues
Solid growth continues ▪ Continued expansion and growth ▪ Guiding for 2018 volume growth maintained Q1 2018 LTM • Net loans end of 2018 expected at NOK 8.4-8.7 billion* (numbers adjusted for effects of IFRS 9 at implementation.) mNOK % mNOK % *) The forward flow agreement entered into on 17 April to
Slide 5: Growth in net loans at NOK 1,996 million for LTM, diversification and expansion continues
Growth in net loans at NOK 1,996 million for LTM, diversification and expansion continues Growth in net loans (NOK million) Geographical overview IFRS 9 Current footprint Sold portfolio 663 595 609 611 POS Finance 570 Loans Finland 515 155 5 158 125 342 209 Cards Norway 403 376 360 52 328 326 93 228
Slide 6: POS Finance | e-commerce check out
POS Finance | e-commerce check out Our POS Finance check-out One-click purchases with invoice - Developed jointly with Komplett Group - Will be used in all Komplett Group stores and for 3rd party sellers on Komplett Marketplace - API and Azure based infrastructure ensuring scalability Full range of
Slide 7: Financials
@ KOMPLETTbank.no Financials
Slide 8: Diversified and sustainable growth
Diversified and sustainable growth Net loans Profitability NOK million NOK million 6 000 100 50% 5 000 80 40% 4 000 60 30% 3 000 40 20% 2 000 20 10% 1 000 0 0 0% 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 17Q4 18Q1 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 17Q4 18Q1 (20) -10
Slide 9: Strong and stable demand
Strong and stable demand Number of customers Market share Norway 1,000s 140 5,0 % 120 13 2 4,0 % 100 47 43 3,0 % 80 39 38 35 12 60 10 31 6 8 2,0 % 25 2 40 20 14 42 45 47 39 42 1,0 % 6 34 20 25 30 18 22 11 14 8 5 6 7 7 8 8 9 0 2 3 3 4 4 5 0,0 % 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 1
Slide 10: Strong capital position
Strong capital position Assets & liabilities Balance sheet ratios NOK million Net Loans 8 000 45% 140% Certificates / 6 000 bonds 40% 120% Deposits credit 35% 4 000 institution 100% Other assets 30% 2 000 25% 80% 0 Total Equity EOP 20% 60% -2 000 Deposits from customers 15% 40% -4 000 Subordinated a
Slide 11: Attractive yields and stable funding costs
Attractive yields and stable funding costs Yields 25% 22,5% 22,9% 22,2% 22,2% 22,5% 22,2% 21,8% 21,9% 19,5% 19,2% • Stable, high yields for both credit 20% cards and loans 16,0% 16,0% 16,6% 16,2% 16,3% 16,5% 16,5% 16,6% 16,4% 15,8% 16,0% 16,1% 15% 14,7% 15,4% 14,8% 14,7% 14,8% 10% • Stable funding c
Slide 12: High operational efficiency, low costs
High operational efficiency, low costs Operational expenses NOK million Marketing 90 70% - Increased overhead expenses due build-up 80 and launch of new business lines; Loan 60% Other expenses Sweden and POS Finance 70 50% Depreciation 60 Q1 2018 50 40% C/I ratio: 34.9% Adm C/I excl. marketing ratio
Slide 13: Stable loan losses, IFRS 9 implemented
Stable loan losses, IFRS 9 implemented Past due (days) at end of quarter Loan losses (LTM) / Average Net loans (LTM) 20% 70% 4% 18% 60% 16% 50% 3% 14% 12% 40% 10% 2% 8% 30% 6% 20% 1% 4% 10% 2% 0% 0% 0% 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 17Q4 18Q1 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q
Slide 14: Quarterly income statement and balance sheet
Quarterly income statement and balance sheet 2018 2017 2017 2017 2017 2018 2017 2017 2017 2017 Amounts in NOK million Q1 Q4 Q3 Q2 Q1 Amounts in NOK million Q1 Q4 Q3 Q2 Q1 Interest income 233.7 220.6 199.6 182.4 153.6 Assets Interest expenses 26.2 24.1 25.1 20.0 17.3 Loans and deposits with credit in
Slide 15: Outlook
@ KOMPLETTbank.no Outlook
Slide 16: Outlook – guiding maintained for 2018
Outlook – guiding maintained for 2018 Strategy Key priorities 2018 Outlook 2018 • Diversify and expand product-wise and • Continued sustainable growth in Finland • Guiding for 2018 volume growth maintained geographical footprint as basis for and Norway • Net loans end of 2018 expected at NOK 8.4-8.7
Slide 17: Appendix
@ KOMPLETTbank.no Appendix
Slide 18: Share data
Share data Holdings Share Name 34,157,285 19.93 % Canica Invest AS SHARE PRICE DEVELOPMENT NOK/share 10,760,485 6.28 % State Street Bank And Trust Comp 6,786,183 3.96 % Alfab Holding AS 6,296,995 3.67 % Morgan Stanley & Co. Int. Plc. 23 4,912,668 2.87 % Macama AS 21 4,706,334 2.75 % Sanden AS 3,455,
Slide 19: Komplett Bank ASA contact details
Komplett Bank ASA | Pb. 448 | 1327 Lysaker | Org.nr.: 998997801 | www.komplettbank.no