Gentera SAB de CV · BMV:GENTERA
Gentera SAB de CV — Q3 2018 Earnings Presentation
40 slides from Gentera SAB de CV's earnings presentation, 2018
Slide 1: Corporate Presentation 3Q18
Corporate Presentation 3Q18
Slide 2: Disclaimer
Disclaimer This presentation is not an offer to sell, or a solicitation of an offer to buy any interest in any security or investment product. Such offer or solicitation may only be made by means of delivery of an offering memorandum, which will contain a description of the material terms (including
Slide 3: Index
Index 1) About Gentera 4 a) History b) Sense of Purpose c) Corporate structure d) Corporate Governance e) Values and strategy f) Products and potential market g) Yastás, Aterna and Intermex 2) Growth & profitability 18 a) Clients b) Portfolio and NPL´s c) ROAA and ROEE d) Efficiency Ratio 3) Financi
Slide 4: About Gentera
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Slide 5: Our history, more than 28 years of evolution
Our history, more than 28 years of evolution Compartamos Transformation • 2 million Evolution to Fiinlab into a Bank Gentera is founded as • Yastas starts launch NGO operations • International expansión (Peru and Guatemala Change to • 3 million Aterna starts ConCrédito SOFOL clients operations Inves
Slide 6: Our Philosophy
Our Philosophy We are the entrepreneur group, leader of financial inclusion in the underserved segment. We provide appropriate and accessible financial services through each of our companies, generating shared value in the countries we operate: Mexico, Peru and Guatemala. In Gentera our purpose is t
Slide 7: Corporate structure with the purpose of serving more clients
Corporate structure with the purpose of serving more clients • Compartamos (Mexico-Peru-Guatemala).- Leader in financial solutions for the sub-served segment. • Yastás (Mexico).- Correspondent network manager. • Aterna (Mexico-Peru-Guatemala).- Leading agent in microinsurance. • Intermex (México).-
Slide 8: Best practices in Corporate Governance
Best practices in Corporate Governance Board of Directors (11 members) Code 7 Independet Board Code of Good Corporate members Governance, which contains the regulations of the Board of Directors 4 Related Board members Code of Ethics and Conduct of utmost importance for Gentera, which applies to cou
Slide 9: Potential market for working capital loans
Potential market for working capital loans Mexico Peru Competitors A/B A/B Opportunity *Working Consumer C Capital Loans C Loans Peru D Mexico D Opportunity E Guatemala E New Competitors Traditional A/B Banks C Great Opportunities D C&D Guatemala E 9
Slide 10: Group loans in Mexico
Group loans in Mexico Crédito Mujer (CM) General Characteristics: • Loan size • Contribution to loan portfolio Ps. 4,000 to Ps. 70,000 55.4% › Group loan for working capital purposes • Average ticket • Contribution to number of clients › Groups of 10 to 50 women Ps. 7,773 65.4% › Group guarantee • T
Slide 11: Individual loans in Mexico
Individual loans in Mexico Personal loans General Characteristics: • Loan size • Contribution to loan portfolio Ps. 20,000 to Ps. 200,000 11.8% › Working capital loan • Average ticket • Contribution to number of clients › Fixed assets and investments Ps. 20,994 5.2% › Mainly in urban areas › Persona
Slide 12: Other loans in Mexico
Other loans in Mexico Improvement loans for Crédito Mujer and Crédito Comerciante General Characteristics: • Loan size • Contribution to loan portfolio Ps. 8,000 to Ps. 30,000 CM: 8.6% CCR: 1.9% › Personal credit to maintain or improve the • Average ticket CI: 0.1% client's house or business. CM: Ps
Slide 13: Evolution in group and individual loans methodologies (2015-3Q18)
Evolution in group and individual loans methodologies (2015-3Q18) BANCO COMPARTAMOS, S.A. I.B.M. 1.9% 2.1% 3Q18 55.4% 20.2% 8.6% 11.9% 2.1% 2.1% Dec-17 52.3% 21.1% 10.3% 12.1% 2.3% 2.2% Dec-16 49.9% 24.0% 10.9% 10.7% 2.4% 0.4% Dec-15 50.1% 23.8% 13.1% 10.2% C. Mujer C. Comerciante C. Crece y Mejora-
Slide 14: Market distribution per subsidiary
Market distribution per subsidiary % Total loan portfolio and average ticket Clients per subsidiary Ps3,976 Ps 5,736 3,090,409 Ps 18,559 1.7% Clients 3.2% 18.1% 31.2% Mexico Mexico 67.1% Peru Peru Guatemala 78.7% Guatemala Ps 9,165 Mexico has an opportunity to serve more clients in D and C segment 1
Slide 15: Yastás (correspondent network manager)
Yastás (correspondent network manager) Presence in 32 Mexican States As of 3Q18 reached more than 2,800 affiliates. Executed 1.6 million financial transactions during the quarter. More than 50 services affiliated to Yastas platform*. Example of Dynamics 2% 4% 5% 27% 62% POS Loan Repayment Lo
Slide 16: Aterna (microinsurance broker)
Aterna (microinsurance broker) Products: Life: Aterna offers life insurance products to provide security to our customers and their families. Health and Accidents: Trough this coverage 3Q18 Aterna seeks to avoid a destabilization in the Active Policies 5.1 million economy of our customers due to a d
Slide 17: Intermex (remittances company)
Intermex (remittances company) • It processed more than $ 6.2 billion pesos in remittances payments in 3Q18. • It has more than 2,500 points of payment to execute remittances payments. • During the first 8 months of 2018, international remittances received in Mexico represented an annual growth of 1
Slide 18: Growth and Profitability
Growth and Profitability
Slide 19: Summary
Summary Banco Compartamos Compartamos Financiera Compartamos S.A. Summary 3Q18 Δ vs 3Q17 3Q18 Δ vs 3Q17 3Q18 Δ vs 3Q17 Clients 2,433,012 -8.5% 558,761 25.2% 98,636 12.5% Portfolio * 22,298 -1.7% 10,370.02 29.1% 566 13.3% Net Income * 503 -19.3% 145 110.0% 19.40 167.5% ROAA 6.9% -2.0 pp 4.7% 1.7 pp 1
Slide 20: Total Portfolio – NPL %
Total Portfolio – NPL % Gentera (Ps. million) Mexico - Banco (Ps. million) 33,234 22,689 22,298 32,258 21,908 21,820 32,074 21,390 31,596 31,221 4.18% 4.37% 4.58% 4.11% 3.26% 3.28% 2.90% 2.94% 2.60% 2.47% 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18 Peru (Ps. million) Guatemala (Ps. million) 10
Slide 21: NIM (%) after provisions
NIM (%) after provisions Gentera Mexico - Banco 45.5% 56.6% 56.0% 43.4% 43.8% 43.2% 42.7% 54.1% 53.2% 52.3% 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18 Peru Guatemala 21.1% 21.4% 21.3% 72.9% 73.0% 74.9% 20.9% 19.5% 69.9% 67.4% 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18 21
Slide 22: ROAA & ROAE evolution
ROAA & ROAE evolution Gentera ROAE 29.4% 25.3% 25.1% 19.2% 22.8% 17.0% 17.1% 17.7% 12,060 13,501 15,929 16,805 17,179 17,014 17,501 8,943 1Q18 2Q18 3Q18 2013 2014 2015 2016 2017 Equity ROE Gentera ROAA 11.0% 7.2% 9.1% 9.3% 8.6% 6.2% 6.8% 7.0% 25,362 30,543 36,514 43,751 43,677 42,163 48,556 46,813 1
Slide 23: Assets - ROAA
Assets - ROAA Gentera Mexico - Banco 8.9% 8.9% 7.3% 7.3% 7.2% 6.9% 6.8% 6.2% 3.7% 3.5% 41,145 43,677 42,163 48,556 46,813 27,613 27,411 26,722 30,079 28,071 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18 Peru Guatemala (Ps. million) 4.5% 10.4% 3.0% 4.7% 4.2% 3.9% 4.7% 2.3% -1.6% 1.8% 9,517 11,639
Slide 24: Equity - ROAE
Equity -ROAE Gentera Mexico - Banco 17.1% 20.8% 20.8% 18.9% 18.2% 19.2% 17.0% 19.1% 8.9% 8.7% 16,838 16,805 17,179 17,014 17,501 12,316 11,210 11,809 10,278 10,781 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18 Peru Guatemala (Ps. million) 23.8% 24.5% 11.6% 4.6% 5.2% 13.9% 12.3% 4.3% 9.2% -1.8% 2
Slide 25: Efficiency Ratio
Efficiency Ratio Gentera Mexico - Banco 92.0% 89.2% 79.1% 80.4% 75.7% 75.4% 76.3% 76.8% 74.5% 75.1% 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18 Peru Guatemala 92.0% 101.0% 85.6% 79.3% 90.6% 91.3% 89.8% 72.1% 70.5% 80.6% 3Q17 4Q17 1Q18 2Q18 3Q18 3Q17 4Q17 1Q18 2Q18 3Q18 Efficiency Ratio: Operat
Slide 26: Financial Information 3Q18
Financial Information 3Q18
Slide 27: Balance Sheet
Balance Sheet % Change % Change 3Q18 3Q17 2Q18 3Q17 2Q18 Cash and other investments 6,036 5,292 14.1% 8,521 -29.2% Total performing loans 32,371 29,916 8.2% 31,321 3.4% Non-performing loans 863 1,305 -33.9% 937 -7.9% Total loan portfolio 33,234 31,221 6.4% 32,258 3.0% Allowance for loan losses 1,986
Slide 28: Income Statement
Income Statement % Change % Change % Change 3Q18 3Q17 2Q18 9M18 9M17 3Q17 2Q18 9M17 Interest income 5,283 5,291 -0.2% 5,113 3.3% 15,412 15,632 -1.4% Interest expense 458 382 19.9% 385 19.0% 1,218 1,165 4.5% Net Interest Income 4,825 4,909 -1.7% 4,728 2.1% 14,194 14,467 -1.9% Provisions for loan loss
Slide 29: NPLs per subsidiary
NPLs per subsidiary NPL´s per methodology and subsidiaries 3Q18 3Q17 2Q18 NPL NPL NPL Write- PRODUCT Portfolio NPL Write- Offs Portfolio NPL Write- Offs Portfolio NPL Ratio Ratio Ratio Offs C. Mujer 12,362 152 1.23% 142 11,469 254 2.22% 201 11,769 171 1.45% 241 C. Comerciante 4,507 175 3.88% 173 5,2
Slide 30: Summary
Summary Banco Compartamos S.A. I.B.M. National Scale Global Scale Fitch Ratings ‘AA+(mex) / F1+(mex)’ BBB / F2 Standard & ‘mxAAA / mxA-1+’ BBB / A-2 Poor’s % Change % Change % Change 3Q18 3Q17 2Q18 9M18 9M17 3Q17 2Q18 9M17 Clients 2,433,012 2,659,145 2,391,665 -8.5% 1.7% 2,433,012 2,659,145 -8.5% Po
Slide 31: Balance Sheet
Balance Sheet % % 3Q18 3Q17 Change 2Q18 Change 3Q17 2Q18 Cash and other investments 2,791 2,569 8.6% 5,397 -48.3% Related parties 656 - N/C 854 -23.2% Total performing loans 21,747 21,697 0.2% 20,761 4.7% Non-performing loans 551 992 -44.5% 629 -12.4% Total loan portfolio 22,954 22,689 1.2% 22,244 3
Slide 32: Income Statement
Income Statement % Change % Change % Change 3Q18 3Q17 2Q18 9M18 9M17 3Q17 2Q18 9M17 Interest income 4,231 4,482 -5.6% 4,078 3.8% 12,375 13,197 -6.2% Interest expense 328 278 18.0% 257 27.6% 840 848 -0.9% Net Interest Income 3,903 4,204 -7.2% 3,821 2.1% 11,535 12,349 -6.6% Provisions for loan losses
Slide 33: Funding structure
Funding structure 10.0% 7.5% 8.2% 0.2% 0.3% 0.4% 13.3% 25.0% 30.1% Cost of funds 3Q18: 7.5% 32.4% 24.5% 26.0% 46.6% 40.1% 35.4% 3Q18 3Q17 2Q18 Capital LT Debt Developmet Bank Comercial Bank Deposits Compartamos Banco has a diversified funding structure and a very solid debt profile 33
Slide 34: Allowance for loan losses
Allowance for loan losses 3Q18 3Q17 2Q18 Risk %Allowance Balance Allowance2) %Allowance Balance Allowance2) %Allowance Balance Allowance2) A-1 1.1% 14,940 168 1.1% 14,323 160 1.1% 14,405 162 A-2 2.7% 957 25 2.7% 937 25 2.7% 854 23 B-1 3.4% 153 5 3.5% 198 7 3.5% 196 7 B-2 4.1% 1,865 76 4.1% 1,581 65
Slide 35: Summary
Summary Compartamos Financiera (Peru) % Change % Change % Change Summary 3Q18 3Q17 2Q18 9M18 9M17 3Q17 2Q18 9M17 Clients 558,761 446,401 521,464 25.2% 7.2% 558,761 446,401 25.2% Portfolio * 10,370 8,033 10,293 29.1% 0.7% 10,370 8,033 29.1% Net Income * 144.5 68.8 132.3 110.0% 9.3% 342.2 165.1 107.3%
Slide 36: Balance Sheet
Balance Sheet % Change % Change 3Q18 3Q17 2Q18 3Q17 2Q18 Cash and other investments 1,971.8 1,464.1 34.7% 2,009.1 -1.9% Total performing loans 10,078.5 7,746.9 30.1% 10,005.2 0.7% Non-performing loans 291.6 285.8 2.0% 288.2 1.2% Total loan portfolio 10,370.0 8,032.6 29.1% 10,293.3 0.7% Allowance for
Slide 37: Income Statement
Income Statement % Change % Change % Change 3Q18 3Q17 2Q18 9M18 9M17 3Q17 2Q18 9M17 Interest income 913.2 675.1 35.3% 878.1 4.0% 2,590.5 2,021.5 28.1% Interest expense 131.8 110.4 19.4% 132.4 -0.4% 389.3 336.3 15.8% Net interest income 781.3 564.7 38.4% 745.7 4.8% 2,201.2 1,685.3 30.6% Provisions fo
Slide 38: Funding structure
Funding structure Cost of funds 5.5% 49.3% 56.9% 54.8% 5.4% 5.5% 4.8% 14.0% 11.5% 12.2% 9.6% 7.2% 7.5% 19.6% 21.7% 20.0% 3Q18 3Q17 2Q18 Capital Investment Funds Comercial Bank Developmet Bank Deposits 38
Slide 39: Summary
Summary Compartamos S.A. (Guatemala) % Change % Change % Change Summary 3Q18 3Q17 2Q18 9M18 9M17 3Q17 2Q18 9M17 Clients 98,636 87,670 95,127 12.5% 3.7% 98,636 87,670 12.5% Portfolio * 565.8 499.3 574.9 13.3% -1.6% 565.8 499.3 13.3% Net Income * 19.4 7.2 (3.0) 167.5% -756.3% 25.1 40.4 -37.9% NPLs / T
Slide 40: Investor Relations contacts
Enrique Barrera Flores Felix Martínez Escamilla Brenda Marlene García Cadena [email protected] [email protected] [email protected] Investor Relations Officer Investor Relations Investor Relations (55) 52767250 ext.7379 (55) 5276 7250 ext.9202 (55) 5276 7250 ext. 6819