Mystate Limited · ASX:MYS
Mystate — Shareholder Meeting (October 2017)
22 slides from Mystate's shareholder meeting presentation, Oct 19, 2017
Slide 1: Annual General Meeting
For personal use only 19 October 2017 Annual General Meeting MyState Limited AGM Presentation 2017 | 1
Slide 2: Chairman's Address
For personal use only Chairman’s Address Miles Hampton MyState Limited AGM Presentation 2017 | 2
Slide 3: Managing Director's Address
For personal use only Managing Director’s Address Melos Sulicich MyState Limited AGM Presentation 2017 | 3
Slide 4: FY2017 results
1 FY2017 results For personal use only Total income: Home loan book: $124.6m 1.0% $4.08b 11.3% 1.6x system Above system lending and Customer deposits: 30-day arrears: deposit growth $3.0b 10.1% 0.51% -19bps 1.8x system Capital adequacy ratio: Net profit after tax: 13.3% 25bps $30.1m -3.2% Full year
Slide 5: Strategic overview
Strategic overview For personal use only Our industry is being disrupted by changing customer expectations and our strategic agenda is targeted at meeting and exceeding customers’ needs MyState’s strategy is underpinned by 5 MyState’s strategy strategic goals, focused on how MyState plans to: The ne
Slide 6: Loan book
Loan book For personal use only Total book – composition ($m) $3,544 $3,853 $4,269 Total loan book 100% $71 $63 $79 growing at 1.8 times 98% $50 $63 system 96% $51 $68 $66 Overdrafts $71 Business/agri/commercial 94% +11% Improved service +18% +10% Personal loans Home loans proposition driving 92% $3
Slide 7: Funding
Funding Customer deposits ($m) For personal use only +9% +10% $2,988 $2,715 Moody’s rating Baa1/P-2 $2,493 with stable outlook 1,527 1,345 1,397 1,149 1,318 1,461 eSaver product successfully launched in 2H17 enabling FY15 FY16 FY17 customers to open Customer at call deposits Customer term deposits a
Slide 8: Credit quality
Credit quality 30+ Days S & P arrears data For personal use only Credit quality remains 2.50% (Majors and regionals two months behind) excellent 2.00% 1.50% Historically low 1.00% impairments 0.50% 0.00% 30 day arrears Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 performance improved in FY17 and remains well
Slide 9: Wealth Division
Wealth Division Funds under management and funds under advice ($m) For personal use only Funds under Management $782 $778 $738 growth of $81m (+8%) $1,017 $1,008 $1,089 Trustee revenue FY15 FY16 FY17 Challenged but Funds under management Funds under advice improved in 2H17 Operating income ($m) $17.
Slide 10: Capital
Capital For personal use only Total capital movements 1.90% 1.56% 0.57% 1.40% 1.96% 0.29% 13.3% 13.0% 1.33% Tier 2 1.61% 2.01% Tier 2 Tier 1 11.43% 11.28% Tier 1 FY16 Capital initiatives Profit Dividends paid Capitalised Securitised assets Secured mortgage Other asset FY17 intangibles lending growth
Slide 11: MyState in the community
MyState in the community For personal use only $1.6m $225,000 220,000 1,000 distributed through the three-year commitment to People attended the students participated in the MyState Community The Smith Family MyState Australian MyState Student Film Festival Foundation since 2001 Wooden Boat Festival
Slide 12: Tasmanian economy
Tasmanian economy For personal use only 17 consecutive quarters of growth Household spending remains solid Tourism continues to be a key driver Leading wage growth (2.2%) Property prices, rental yields high Population growth beginning to climb MyState Limited AGM Presentation 2017 | 12
Slide 13: Sector overview
Sector overview For personal use only System credit growth moderating $ Changing industry Historically low interest rate environment continues dynamics Competition is fierce particularly in lower LVR owner occupied household lending Financial system stability concerns and international issues influe
Slide 14: Platform for continued growth
Platform for continued growth For personal use only What we’ve achieved What we’re working on What’s to come Digital Cost efficiencies Simplification transformation • MyExcellence program to • Internet and mobile banking • ‘MyExcellence’ productivity and streamline processes and • Contact centre sys
Slide 15: Business of the Meeting: Financial Statements and Reports
For personal use only 19 October 2017 Annual General Meeting Business of the Meeting Item 1 – Financial Statements and Reports MyState Limited AGM Presentation 2017 | 15
Slide 16: Item 2a – Election of Director – S Krieger
19 October 2017 For personal use only Annual General Meeting Business of the Meeting Item 2a – Election of Director – S Krieger Proxies Lodged For 22,302,556 Against 454,033 Abstain 613,786 Open* 4,162,878 *The Chairman holds 2,603,625 open votes and intends to vote in favour of the resolution MySta
Slide 17: Item 2b – Election of Director – P Armstrong
19 October 2017 For personal use only Annual General Meeting Business of the Meeting Item 2b – Election of Director – P Armstrong Proxies Lodged For 22,349,227 Against 448,138 Abstain 600,662 Open* 4,135,226 *The Chairman holds 2,575,973 open votes and intends to vote in favour of the resolution MyS
Slide 18: Item – Remuneration Report
19 October 2017 For personal use only Annual General Meeting Business of the Meeting Item 3 – Remuneration Report Proxies Lodged For 20,518,578 Against 1,387,192 Abstain 794,275 Open* 4,093,275 *The Chairman holds 2,567,830 open votes and intends to vote in favour of the resolution MyState Limited A
Slide 19: Item 4a – Issue of Shares to the Managing Director
19 October 2017 For personal use only Annual General Meeting Business of the Meeting Item 4a – Issue of Shares to the Managing Director under the 2014 Executive Long Term Incentive Plan Proxies Lodged For 21,263,183 Against 1,488,378 Abstain 694,585 Open* 4,078,906 *The Chairman holds 2,561,606 open
Slide 20: Item 4b – 2017 Executive Long Term Incentive Plan Offer
19 October 2017 For personal use only Annual General Meeting Business of the Meeting Item 4b – 2017 Executive Long Term Incentive Plan Offer to the Managing Director Proxies Lodged For 21,289,166 Against 1,443,056 Abstain 688,676 Open* 4,104,154 *The Chairman holds 2,557,534 open votes and intends t
Slide 21: Subsequent Approval of Prior Issues of Placement Shares
19 October 2017 For personal use only Annual General Meeting Business of the Meeting Item 5 – Subsequent Approval of Prior Issues of Placement Shares Proxies Lodged For 21,672,841 Against 970,038 Abstain 796,005 Open* 4,094,369 *The Chairman holds 2,575,761 open votes and intends to vote in favour o
Slide 22: For personal use only
For personal use only 19 October 2017 Annual General Meeting MyState Limited AGM Presentation 2017 | 22