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Oberbank AG – Investor Presentation 2019
Transcript

Oberbank AG – Investor Presentation2019

2

FACT SHEET OBERBANK

Source: Oberbank AG, Annual Report 2018 | Annual Reports of the respective banksData as at: 31 December 2018

Employees(FTEs)

2,101

Loans

EUR 15.9 billion

Primary funds

EUR 14.2 billion

Number ofbranches

170

7th largest bank in AustriaFacts & Figures on

Oberbank

Bank Total assets

1 Erste Group Bank EUR 236.8 billion

2 Raiffeisen Bank International AG EUR 140.1 billion

3 UniCredit Bank Austria AG EUR 99.0 billion

4 BAWAG P.S.K. EUR 44.7 billion

5 Raiffeisenlandesbank OÖ EUR 35.7 billion

6 Raiffeisenlandesbank NÖ-Wien AG EUR 25.7 billion

7 Oberbank EUR 22.2 billion

8 HYPO NOE Group EUR 14.1 billion

9 Raiffeisen-Landesbank Steiermark AG EUR 12.3 billion

3

OBERBANK AT A GLANCE – FULL YEAR 2018

Source: Oberbank AG, Annual Report 2018Data as at: 31 December 2018

Profit before tax

271 million

+13%

Profit after tax

226 million

+13%

Net interestincome

345 million

+10%

Net com. income

159 million

+13%

RoE before tax

Cost/Income Ratio

Tier 1 capitalratio

17.77%

+0.74% ppt

48.92%

-0.98% ppt

10.18%

+0.12% ppt

4

OBERBANK AT A GLANCE – Q1 2019

Source: Oberbank AG, Report to Shareholders Q1 2019Data as at: 31 March 2019

Profit before tax

60 million

-7%

Profit after tax

49 million

-10%

Net interestincome

85 million

+8%

Net com. income

41 million

+1%

RoE before tax

Cost/Income Ratio

Tier 1 capitalratio

17.52%

+0.91% ppt

54.72%

+3.30% ppt

8.48%

-1.57% ppt

5

OBERBANK IN THE HEART OF EUROPE

Source: Oberbank AG (own presentation)Data as at: 31 March 2019

1869

Austria 2007

Hungary

1990

Germany

2004

Czech Republic

2009

Slovakia

6

EMBEDDED IN A STRONG ECONOMIC REGION

Legend:

Single branches

x BranchesX

Source: Oberbank AG (own presentation)Data as at: 31 March 2019

7

LONG-TERM EARNINGS GROWTH

Source: Oberbank AG, Annual Reports 2011 to 2018 | Data as at: 31 December | Amounts in € millionThe figures given refer to the past. These cannot be used to derive future trends.

126136 142

158

192

219

239

271

2011 2012 2013 2014 2015 2016 2017 2018

Profit before tax (in € m)

12 % Ø-growth p.a.

Sustainable growth and earnings

• Resilient business model• Long-term growth trend• Ongoing optimisation of process + costs • Steady expansion (branches)

Stable earnings trend!

• Concentration on core business• Stable business policy• Regional customers

8

POSITIVE DEVELOPMENT OF INTEREST & COMMISSION INCOME

Source: Oberbank AG, Annual Reports 2013 to 2018Data as at: 31 December | Amounts in € million

287 314 300 308 315 345

115119 133 131 141

159402433 433 439

456

504

2013 2014 2015 2016 2017 2018

Net interest income Net commission income

1/3 Total income

+13%

+10%

9

SUSTAINABLE DEVELOPMENT OF PROFIT AND SHARE PRICE

0

50

100

150

200

250

300

0

10

20

30

40

50

60

70

80

90

1001

99

2

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93

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95

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98

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99

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20

18

Pro

fit

for

the

year

bef

ore

tax

in €

m

Ord

. sh

are

and

pre

f. s

har

e in

Profit for the year before tax in €m

Ordinary share

Preference share

Source: Oberbank (own calculation), Bloomberg, Data as at: 29 April 2019 The figures given refer to the past. These cannot be used to derive future trends.

Market value over EUR 3.3 billion

Top 10 on the Vienna Stock

Exchange

Annual reports 1992 to 2010 available

on request

10

ISSUER RATING OF OBERBANK

Source: Standard & Poor’sData as at: 9 January 2019

Rat

ing

scal

e St

and

ard

& P

oo

r’s

AAA

AA+

AA

AA-

A+

A

A-

BBB+

BBB

BBB-

BB+

BB

BB-

B+

B

B-

CCC+

CCC

CCC-

CC

C

D

“Stable” outlook

The rating report is available on our website.

11

SOLID BUSINESS MODEL & STRATEGY

Source: Oberbank AG (own presentation)

Co

nce

ntr

atio

n o

n r

isk

man

agem

ent

Sust

ain

able

HR

dev

elo

pm

ent

Org

anic

gro

wth

Au

ton

om

y &

ind

epen

den

ce

Hig

h a

dvi

sory

qu

alit

y

Lean

pro

cess

es

Secu

re li

qu

idit

y

Stable foundation of values

12

SOLID BUSINESS MODEL & STRATEGY

Source: Oberbank AG (own presentation)

Au

ton

om

y &

Ind

epen

den

ce

Our autonomy and independence remain our top priority – they allow us to continue making decisions autonomously, for the region and in

the region.

Stable foundation of values

13

INDEPENDENCE DEVELOPED OVER YEARS

Source: Oberbank AG (own presentation)Data as at: 31 March 2019

1869Founded in Linz

194513 branches

1984End of syndicate agreement with Creditanstalt

1986Initial public offering on theVienna Stock Exchange

1990Market entry in Bavaria

2000First presentation of Oberbank, BTV and BKS as 3 Banken Group

1929Creditanstalt becomes majority shareholder

1952Creditanstaltsells 1/3 of its shares toBKS and BTV

1985First branch in Lower Austria

1988First branchin Vienna

1991Foundation of Drei-Banken-EDV

2002100 Branches

2004Market entry in Czech Republic

2007Market entry in Hungary

2009Market entry in Slovakia

2013150 branches

2015Market entry in Hesse

2016Market entry in Thuringia

2018Market entryBaden-Württemberg& Saxony

2019150 years ofOberbank

14

SHAREHOLDER STRUCTURE ENSURES INDEPENDENCE

Source: Oberbank AG (own presentation)Data as at: 31 December 2018 - Ownership structure by voting right

16.98%

15.21%

4.90%

1.77%

3.94%

25.97

31.23%Free float

CABO Beteiligungsgesellschaft m. b. H.

Bank für Tirol und Vorarlberg AG

Wüstenrot Wohnungswirtschaft reg. Gen.m.b.H

BKS Bank AG

Generali 3 Banken Holding AG

Employees

Voting rights31 December 2018

15

BUILD UP OF OWN CAPITAL

Source: Oberbank AG, Annual Reports 2013 to 2018Data as at: 31 December | Amounts in € million

1,4211,534

1,926

2,2832,467

2,798

0

500

1.000

1.500

2.000

2.500

3.000

2013 2014 2015 2016 2017 2018

Equity (in € m)

16

WE EXCEED OUR STATUTORY CAPITAL REQUIREMENTS

Source: Oberbank AG, Annual Report 2018 | SREP purs. to SREP Notice of 2 October 2017Data as at: 31 December 2018

17.46% 17.77%

20.19%

6.47%

7.97%

9.97%

CET 1 ratio Tier 1 capital ratio Total capital ratio

Regulatory requirement

ACT on 31/12/2018

Regulatory requirement

ACT on 31/12/2018

Regulatory requirement

ACT on 31/12/2018

+ 1.40%SREP Premium

17

SOLID BUSINESS MODEL & STRATEGY

Source: Oberbank AG (own presentation)

Hig

h a

dvi

sory

qu

alit

y

We offer high quality advisory services and regularly receive awards for our performance.

Stable foundation of values

18

WE OFFER UNIVERSAL SERVICES

Source: Oberbank AG (own presentation)Data as at : 31 December 2018

Corporate and Business Banking Retail Banking

Export & investment promotion

Documentary business & guarantees

Interest & currency management

Structured finance, private equity,

mezzanine capital, leasing

Payment services & cash management

Investments & pension plans

Real estateloans &

subsidy finance schemes

Private banking & asset management

Retirement provisioning

Consumer loans & vehicle leasing

Portfolio

Bu

sin

ess

Fin

ance

Ris

k M

gmt.

Paym

ent

serv

ices

19

SOLID BUSINESS MODEL & STRATEGY

Source: Oberbank AG (own presentation)

Org

anic

gro

wth

We grow organically through new branches and do not engage in the acquisition of other banks.

Stable foundation of values

20

SUCCESSFUL EXPANSION

Source: Oberbank AG, Annual Reports 1990 to 2018 (Annual Reports 1990 to 2010 not available online)Data as at: 31 December | Amounts in € million

8589

98

110

143

156

170

20 22

49

79

115

192

271

0

50

100

150

200

250

300

0

20

40

60

80

100

120

140

160

180

1990 1995 2000 2005 2010 2015 2018

Branches Profit before tax

21

DYNAMIC EXPANSION IN GERMANY

Source: Oberbank AG (own presentation)Data as at: 31 December 2018

Saxony

ThuringiaHesse

Bavaria

Baden-Württemberg

Mainz

Mannheim

Heilbronn Schwäbisch/Hall

Karlsruhe

Böblingen

Freiburg

Ravensburg

Dresden

Legend:

Existing branches

Opening planned in 2019

22

EXPANSION ALSO REFLECTED IN LENDING VOLUME TREND

Source: Oberbank AG, Annual Reports 2013 to 2018Data as at: 31 December | Amounts in € million

2,218 2,442 2,695 2,875 3,049 3,251

9,496 9,835 10,14510,903

11,71112,632

11,71312,276

12,84013,778

14,76015,883

2013 2014 2015 2016 2017 2018

Individual loans Corporate and business loans

+8%

+7%+6%

+7%

+7%

+8%

+3%

+10%

+10%

+4%

+5%

+4%

23

FAST PACE OF NET GROWTH IN LENDING VOLUME

Source: Oberbank AG, Annual Reports 2013 to 2018Data as at: 31 December | Amounts in € million

354 339311

757809

921

114

224253

181 174202

0

100

200

300

400

500

600

700

800

900

1000

2013 2014 2015 2016 2017 2018

Net increase in lending volume (in € m)

Corporate and Business Banking

Retail Banking

24

LOAN DISTRIBUTION HIGHLIGHTS OUR REGIONAL FOCUS

Source: Oberbank AG (own presentation)Data as at: 31 December 2018

Upper Austria & Salzburg

Vienna

Lower Austria

Germany

Czech Republic

Hungary Slovakia

48%

14%

8%

15%

8%

4% 3%

25

SOLID BUSINESS MODEL & STRATEGY

Source: Oberbank AG (own presentation)

Co

nce

ntr

atio

n o

n r

isk

man

agem

ent

We pursue a cautious risk policy and professional risk management.

Stable foundation of values

26

RELEVANT RISK INDICATORS DEMONSTRATE A POSITIVE PICTURE

Source: Oberbank AG, Annual Report 2018Data as at : 31 December 2018

2017 2018

NPL ratio, gross 2.59% 2.43%

Non-performing loans, gross absolutein € m

414.78 421.68

Impairment allowance ratio 0.19% 0.16%

27

RISK PROVISIONS AT LOW LEVEL

Source: Oberbank AG, Annual Reports 2013 to 2018Data as at: 31 December | Amounts in € million

71

78

47

2528

26

0

10

20

30

40

50

60

70

80

90

2013 2014 2015 2016 2017 2018

Impairment charges for losses on loans and advances (in € m)

28

SOLID BUSINESS MODEL & STRATEGY

Source: Oberbank AG (own presentation)

Sust

ain

able

HR

dev

elo

pm

ent

Our employees are the most important link between Oberbank and customers, and set us apart from our competitors.

Stable foundation of values

29

NUMBER OF EMPLOYEES RISES DUE TO EXPANSION

2013 2014 2015 2016 2017 2018

Employees 1,993 2,004 2,025 2,049 2,050 2,101

• Average number of employees pursuant to IFRS

• Salaried employees excluding management board and senior management

1,486 1,476 1,479 1,495 1,488 1,509

185 194 205 216 215230

183 192 200199 198

20278 83

8994 104

11361 59 52

45 4447

Austria Germany Czech Republic Hungary Slovakia

Source: Oberbank AG, Annual Reports 2013 to 2018Data as at: 31 December

30

WE HAVE ONE OF THE OLDEST EMPLOYEE PARTICIPATION SCHEMES IN AUSTRIA

3.94%

of Oberbank belongs toour employees

since 1994

One of the oldest employee participation schemes

2,500

employees hold shares

130 m €

invested by employees

Mitarbeiterstiftung (Employee Foundation) Special employees offer

Source: Oberbank AG (own presentation)Data as at: 31 December 2018

31

SOLID BUSINESS MODEL & STRATEGY

Source: Oberbank AG (own presentation)

Lean

pro

cess

es

Cost awareness is a main topic for us in our daily business – this is why we do not have to close branches for cost reasons or make

hundreds of employees redundant overnight.

Stable foundation of values

32

MARKET LEADERSHIP IN COST EFFICIENCY

Source: Oberbank AG, Annual Reports 2013 to 2018Data as at: 31 December

52.1%

50.1% 50.5% 50.8%49.9%

48.9%

2013 2014 2015 2016 2017 2018

Cost/income ratio (CIR)

33

DIGITALISATION – AN IMPORTANT STRATEGIC GOAL

Source: Oberbank AG (own presentation)

Numerous online applications

Diverse multi-channel capabilities

Services available online

Products can be obtained

online

34

SOLID BUSINESS MODEL & STRATEGY

Source: Oberbank AG (own presentation)

Secu

re li

qu

idit

y Customer loans are refinanced by customer deposits, securitised liabilities and promotional loans. This is an important strategic goal

for Oberbank - LDR!Additionally, we have a high liquidity reserve in the form of securities

eligible for refinancing and collateral for loans.

Stable foundation of values

35

STABLE FINANCING OF LOANS

Source: Oberbank AG, Annual Reports 2013 to 2018Data as at: 31 December

87.60%

91.70%92.30%

95.50%

97.20%

95.10%

82%

84%

86%

88%

90%

92%

94%

96%

98%

2013 2014 2015 2016 2017 2018

Loan-to-deposit ratio

We have an adequate liquidity buffer in the form

• of securities assets eligible for refinancing

• loan assets eligible for refinancing with central banks

36

OUR LOAN/DEPOSIT RATIO IS 95.10%

Source: Oberbank AG, Annual Report 2018Data as at: 31 December 2018

Loans and advances to customers Funding base in m €

Equity

Refinance allocated for customer loans

Securitised liabilities including subordinated debt capital

Liabilities to customers

Loans and advances to customers

95.10%Loan/deposit ratio

37

FINANCING STRUCTURE OF OBERBANK

Source: Oberbank AG, Annual Report 2018Data as at: 31 December 2018

Liabilities to customers

Securitised liabilities

Subordinated debt

Equity Prov. + other liabilities

Promotional loans

Other liabilities to banks

Liabilities to banks

TLTRO

38

OUR FUNDING STRATEGY AT A GLANCE

Source: Oberbank AG (own presentation)

Oberbank environment

Preparation

Planning

Growth in lending

Limited retail issues

Short-term customer deposits

Rating process

Covered bond issue

Long-term capital market financing

Instruments with different quality

39

SUMMARY

Economic success

Profit (before tax): EUR 270 million*

CIR: 48.9%*

Total assets: EUR 22.2 billion*

Source: Oberbank AG (own presentation), *Annual Report 2018Data as at: 31 December 2018

High stability

Total capital ratio of over 20%*

NPL ratio: 2.43%*

Long-term issuer rating (S&P):

A, stable*

Clear expansion strategy

Focus on strong economic region of Austria, Germany, Czech

Republic, Hungary and Slovakia

Independence is key goal

Strong & sustainable ownership structure

40

KEY FACTS ON PLANNED ISSUE

Source: Oberbank AG (own presentation)

Issuer Oberbank AG

Expected rating A (stable) by S&P

Status Ordinary senior Eligible Notes

Maturity 7 to 9 years

Volume Sub-benchmark

Currency Euro

Lead Manager Commerzbank, DZ Bank, Erste Group, Raiffeisen Bank International

41

Contacts

42

CONTACTS

Stefan Haasbauer

Head of TeamCapital Markets & Tax Law

+43 +732 7802 37429

+43 +664 805565 211

[email protected]

Markus Pretzl

Investor Relations

+43 732 7802 37368

+43 664 805565 312

[email protected]

Robert Musner

Head of Treasury & Trade

+43 732 7802 32640

+43 664 805565 224

[email protected]

Thomas Katzlinger

Head of TeamTrading & Capital Markets

+43 +732 7802 32637

+43 +664 805565 534

[email protected]

43

DISCLAIMER

This/these document(s) is/are for current informational purposes only and is/are based on the state of

knowledge of the persons charged with its/their preparation at the time of its/their preparation. This/these

document(s) constitute(s) neither an offer nor an invitation to buy or sell the investments and (bank)

products mentioned therein. None of the statements con-tained in this/these document(s) should be

understood to constitute a general recommenda-tion. Although we believe that the sources we have used

are reliable, we do not give any guarantee of the completeness or accuracy of the information reproduced

here. In particular, we expressly state that numerical information is subject to errors.

The data provided are historical data. They cannot be used to predict future developments.

Oberbank AG. Legal Form: Aktiengesellschaft (Joint Stock Company). Registered Office: Untere Donaulände

28, A-4020 Linz, Austria. Commercial Register No.: FN 79063 w, Landesgericht Linz (State Court of Linz), DVR:

0019020


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