Norion Bank AB · OMXSTO:NORION
Norion Bank AB — Collector — FY2015 Earnings Presentation
23 slides from Norion Bank AB's earnings presentation, Feb 11, 2016
Slide 1: Year-End Report 2015 – Financial Hearings
Stefan Alexandersson, CEO Pia-Lena Olofsson, CFO Year-End Report 2015 – Financial Hearings
Slide 2: Collector snapshot
Total SEKmincome (SEKm) 1 187 1200 Collector snapshot 1000 CAGR +30 % 916 800 • Innovative digital niche bank 697 600 544 590 • Strong organic growth with high profitability 404 456 400 302 • Two segments, eight products 200 150 228 87 • Listed on Nasdaq Stockholm 0 2005 2006 2007 2008 2009 2010 201
Slide 3: Focus on the Nordic region
Focus on the Nordic region Offices Share of 2015 total income 21 % 57 % 19 % Oslo Helsinki Stockholm Gothenburg Others: 3 % Malmö Year-End Report 2015 – Financial Hearings 3
Slide 4: Attractive offer
Attractive offer Retail Corporate 68 % 32 % of total income 2015 of total income 2015 Sales financing within Factoring and Factoring solutions and Payment solutions e-commerce and retail corporate lending corporate loans Personal loans Junior property financing Personal loans Property finance up to
Slide 5: Listed since June 2015
Listed since June 10 2015 Share development Collector (COLL) OMX Stockholm 30 150 125 100 75 50 Jul 2015 Sep 2015 Nov 2015 Jan 2016 Year-End Report 2015 – Financial Hearings 5
Slide 6: Shareholders
Shareholders December 31 2015 Shareholders % Fastighets AB Balder 44,1 % StrategiQ Capital 12,7 % Ernström Finans 9,5 % Swedbank Robur Fonder 6,5 % Skandinaviska Enskilda Banken 3,8 % Helichrysum Gruppen (Lena Apler) 3,7 % Muirfield Invest Aktiebolag 3,2 % Andra AP-fonden 3,0 % Other shareholders 13
Slide 7: Highlights from 2015
Highlights from 2015 • Banking licence • IPO • Launched of several new products • New extensive factoring agreement • Record in new number of retail customers (+1 million, total 3,5 million) • All-time high in total income, EAT and credit portfolio Year-End Report 2015 – Financial Hearings 7
Slide 8: Total income and EAT
Total income EAT +30 % +52 % SEKm SEKm 1 187 300 1200 286 CAGR +30 % 250 CAGR +55 % 1000 916 800 697 200 188 148 600 544 590 150 456 114 404 100 92 102 400 302 66 228 44 200 150 50 31 87 17 3 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Slide 9: Q4 2015 income
Q4 2015 Q4 2015 Q4 2014 Income (reported) 330 +20 % 275 Items affecting comparability –14 –25 Income (adjusted) 316 +27 % 264 Year-End Report 2015 – Financial Hearings 9
Slide 10: Credit portfolio
SEKm +54 % 9 000 Credit portfolio 8 697 8 000 7 000 CAGR +30 % 6 000 5 649 5 000 4 035 4 000 3 000 2 778 2 258 1 932 2 000 1 728 1 368 1 000 2008 2009 2010 2011 2012 2013 2014 2015 Year-End Report 2015 – Financial Hearings 10
Slide 11: Net credit losses
Net credit losses 4,1 % 3,0 % 2,6 % 2,7 % 1,9 % 1,3 %* 1,4 % 1,3 % 2008 2009 2010 2011 2012 2013 2014 2015 * Excluding insurance compensation SEK 6 m Year-End Report 2015 – Financial Hearings 11
Slide 12: Capital ratio
Capital ratio • Total capital ratio 17 % 2015 • Financial target ≥ 15 % Capital distribution 2015 CET 1 100 % Addition Tier 1 – Addition Tier 2 – With a capital base of SEK 1 541 m SEK 200 m AT1 and/or SEK 300 m AT2 could be added without influencing CET1 ratio. Year-End Report 2015 – Financial Hear
Slide 13: RoE and EPS
RoE and EPS Equity issue Equity issue of SEK 200 m of SEK 400 m 2014 EPS 2015 30 % 2015 SEK 3,16 (2,35) +35 % 26 % 24 % 26 % 23 % 21 % Q4 2015 SEK 0,98 (0,70) 2010 2011 2012 2013 2014 2015 Year-End Report 2015 – Financial Hearings 13
Slide 14: Performance and trends
Performance and trends 2015 Retail Corporate Income +34 % 22 % EBT +59 % 42 % Retail 2015 Q4 Corporate 2015 Q4 Payment solutions Property finance Factoring and Personal loans corporate lending Year-End Report 2015 – Financial Hearings 14
Slide 15: Balance sheet
Balance sheet December 31 2015 TOTAL ASSETS: SEK 10 BILLION GW Oth. Cash + int. Credit portfolio 8 697 825 ass. 371 158 DEBT AND EQUITY: SEK 10 BILLION Equity Oth. 1 649 Deposits 7 854 debt 554 Year-End Report 2015 – Financial Hearings 15
Slide 16: Funding
Funding • Deposits SEK 7 800 m • Credit facility of SEK 700 m (unutilised Dec 31 2015) • Certificate programme limit SEK 3 000 m (SEK 500 m launched Jan 2016) Year-End Report 2015 – Financial Hearings 16
Slide 17: Future
Future Year-End Report 2015 – Financial Hearings 17
Slide 18: Trends
Trends • Larger customers and larger deals • Increased growth in Corporate Segment vs Retail • Focus on the Swedish market in the short to medium term • Increased pace in launching new products in both segments Year-End Report 2015 – Financial Hearings 18
Slide 19: Strong growth and capitalisation
Strong growth and capitalisation • Continued strong growth • Expected strong growth in credit portfolio puts pressure on capital ratio • Financial target: Capital ratio ≥ 15 % • Capital injection, due to high growth, probably needed in 2016 Year-End Report 2015 – Financial Hearings 19
Slide 20: Strong company culture, IT platform
• Strong company culture • IT platform Change of Increased demand Small marketshare in consumption pattern from SME-customers a growing market Year-End Report 2015 – Financial Hearings 20
Slide 21: Collectors position
Collectors position “Collector shall be the leading digital niche-bank in the Nordic region.” Year-End Report 2015 – Financial Hearings 21
Slide 22: New competitive environment
New competitive environment Year-End Report 2015 – Financial Hearings 22
Slide 23: Competitive edge
Competitive edge 1 Low marketshare in a market with high market growth 2 Attractive range of products 3 Strong technical and culture conditions 4 Very strong track-record 5 Solid shareowner base Year-End Report 2015 – Financial Hearings 23