Charts - Helaba

Group Annual Accounts 2015 (IFRS)
Information on the Annual Accounts of
Helaba Group
Frankfurt (Main), March 17, 2016
Cornerstones of the Financial Year 2015:
Helaba achieves profit before taxes of € 596 m
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With € 596 m profit before tax Helaba achieves a result around 2% under previous year‘s record result. The basis for this
successs was the client-driven business.
All operational earnings components made gains compared to the year before. Interest income and fee and commission
income both reached new record levels at € 1.3 bn and € 0.3 bn respectively.
General and administration expenses remained stable. Provisions for losses on loans and advances amounted to
€ 237 m and were on an average level of the previous five years.
The very good Group result allows Helaba to service all subordinated funds, participation rights and silent participations, to
allocate retained earnings to strengthen the core capital as well as to pay dividends to capital providers.
The CET-1 ratio increased to 13.8% or, on a fully-loaded basis, to 13.1%. The total capital ratio rose to 19.8%.
Helaba‘s Stable Strategic Business Model:
Three Core Business Units
3
Helaba
…a Universal Bank with strong Regional Focus
Wholesale Business
S-Group Business, Private
Customers and SME Business
Public Development and
Infrastructure Business
Business Division:
Real Estate
Corporate Finance
Financial Institutions
and Public Finance
Global Markets
Asset Management
Transaction Banking
Frankfurt am Main . Erfurt . Düsseldorf . Kassel . London
Paris . New York . Zürich . Madrid . Moscow . Shanghai . Singapore
IFRS-Result:
Profit before taxes of € 596 m only 2% under previous year‘s record result
Development of profit before taxes
4
Development of total assets
in € million
in € billion
220
700
600
607
500
492
596
512
200
199
180
483
178
179
400
172
160
164
300
140
200
120
100
0
100
2011
2012
2013
2014
2015
2011
2012
2013
2014
2015
as of December 31, 2015
Operating Income:
Interest and commission income reached new record levels
Development of net interest income
5
Development of net commission income
in € million
in € million
350
1.400
333
1,293
1.200
1,312
317
300
300
1,216
1,145
1.000
250
1,067
800
200
600
150
400
100
200
50
0
0
2011
2012
2013
2014
2015
254
2011
263
2012
2013
2014
2015
as of December 31, 2015
Consolidated Balance Sheet of Helaba Group 2015 (IFRS)
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31.12.2015
31.12.2014
in € billion
in € billion
in € billion
Loans and advances to banks incl. cash reserves
19.1
21.6
-2.5
-11.6
Loans and advances to customers
93.2
91.1
2.1
2.3
Impairments on receivables
-1.0
-1.0
-
-
Assets held for trading
26.1
31.3
-5.2
-16.6
4.4
5.8
-1.4
-24.1
26.6
26.6
-
-
3.9
4.1
-0.2
-4.9
172.3
179.5
-7.2
-4.0
Liabilities due to banks
36.0
35.6
0.4
1.1
Liabilities due to customers
47.7
45.3
2.4
5.3
Securitised liabilities
47.1
48.3
-1.2
-2.5
Liabilities held for trading
22.4
29.2
-6.8
-23.3
Negative market value of derivatives not held for trading
4.4
5.4
-1.0
-18.5
Provisions, other liabilities
2.9
2.9
-
-
Subordinated capital
4.1
5.4
-1.3
-24.1
Equity
7.7
7.4
0.3
4.1
172.3
179.5
-7.2
-4.0
Positive market value of derivatives not held for trading
Financial investments, incl. companies accounted for using the equity method
Other Assets
Total assets
Total liabilities
Change
%
P&L for Helaba Group 2015 (IFRS)
7
2015
2014
in € million
in € million
1,312
1,293
19
1.5
-237
-80
-157
>-100
1,075
1,213
-138
-11.4
Net commission income
333
317
16
5.0
Net trading income
190
126
64
50.8
25
51
-26
-51.0
Results from financial investments (incl. result from companies accounted for using the
equity method)
-10
45
-55
-
Other operating result
173
70
103
>100
-1,190
-1,215
25
2.1
596
607
-11
-1.8
-177
-210
33
15.7
419
397
22
5.5
Net interest income
Provisions for losses on loans and advances
Net interest income after provisions for losses on loans and advances
Result from hedges / derivatives
General administration expenses
Earnings before taxes
Taxes on income
Consolidated net income after taxes
Change
in € million
in %
Key Financial Ratios for 2015
8
2015
2014
Return on equity (before taxes)
8.1 %
8.3 %
Cost-income ratio
58.8 %
63.9 %
CET 1-Ratio („phased-in“)
13.8%
13.4%
CET 1-Ratio (“fully loaded”)
13.1%
11.8%
Total capital ratio
19.8%
18.5%
Risk-weighted assets in € billion
54.9
53.8
Own funds, total in € billion
10.9
10.0
Leverage Ratio
4.0%
4.0%
SREP-Ratio (2016)
BaFin-Requirement for domestic systemically important banks (by 2019)
9,25%
1 percentage point
Helaba Group: volume of medium- and long-term new business (≥1 year):
New business with customers increases to € 19.2 bn
Development of medium- and long-term new business
9
Split of new business by segments: € 19.2 bn*
in € billion
20
Corporate Finance
Real Estate
19.2
18.4
17.2
16
14.4
€ 5.5 bn
15.0
€ 9.8 bn
12
€ 2.3 bn
8
S-Group Business (incl.
Frankfurter Sparkasse)
€ 0.9
bn
€ 0.7
bn
4
Public Finance
Other
0
2011
2012
2013
2014
2015
*without medium- and long-term new business of WIBank
as of December 31, 2015
Refinancing:
Continued market access due to strong issuer franchise
10
Medium and long-term funding ( ≥ 1 year): € 17.3 bn in 2015
Unsecured bank bonds
Public Pfandbriefe
€ 6.3 bn
31%
Pfandbriefe
€ 4.8 bn
€ 1.0
bn
69%
€ 5.2
bn
Mortgage Pfandbriefe
Borrower‘s notes and other loans
Subordinated debt
As of December 31, 2015
 High stability provided by € 48 bn of customer liabilities.
Group Profit before Tax split down on Business Segments
11
Profit before Tax as of 31.12.2015
in € million
900
27
800
700
140
-253
600
60
127
500
114
400
300
535
200
596
380
100
0
Real Estate
Corporate Finance
Financial Markets
S-Group Business,
Private Customers
and SME Business
Public Development
and Infrastructure
Business
Others
Consolidation
Profit before Tax
Outlook:
Helaba sees sector under pressure to adapt
• The current geopolitical and economic situation will continue to lead to higher volatility
• All players are under pressure to adapt to the current business environment which can be summarised under the
headlines low (or negative) interest rates, regulation and digitalisation
• An enhancement of Helaba’s business modell according to the principle of “strengthening strengths” announced;
Helaba’s role as the S-Group Bank for the savings banks as well as the market of North Rhine-Westphalia seen as
central growth opportunities
 Due to the challenging market environment, higher regulatory costs and rising capital requirements, Helaba
anticipates Group profits to decline markedly.
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Helaba Ratings on a high level
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Unguaranteed ratings
Agency
Moody´s
Fitch Ratings
Standard & Poor´s
A1
A+1
A1
Deposit rating
Aa3
-
-
Short-term rating
P-1
F1+1
A-11
BCA/ viability rating/ SACP
baa3
a+1
a1
Public Pfandbriefe
Aaa
AAA
-
-
AAA
-
Moody´s
Fitch Ratings
Standard & Poor´s
Aa1
AAA
AA-
Long-term rating
Mortgage Pfandbriefe
Guaranteed ratings2
Agency
Long-term rating
Source: Moody‘s Investor Service, Fitch Ratings, Standard & Poor’s – as of March 17, 2016
1) Joint group rating (Sparkassen-Finanzgruppe Hessen-Thüringen)
2) With statutory guarantees of owners (‘mit Gewährträgerhaftung’)
Disclaimer
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•
Material provided has been prepared for information purposes only. Prices and rates mentioned are of indicative and non-binding nature.
•
The material and any information contained herein do not constitute an invitation to buy, hold or sell securities or any other instrument. The
material does not constitute an investment consultancy und does not substitute an individual analysis. Opinions expressed are today’s views and
may change without prior notice. Transactions entered into by the user are at the users risk!
•
The material is based upon information and processes we consider reliable. However, we do not represent that the information, results and
conclusions are accurate or complete, and they should not be relied upon as such. Past performance, previous simulations or forecasts provided
in the past do not represent a reliable indicator of future performance.
•
Certain transactions, including those involving derivatives such as interest rate swaps, futures, options and high-yield securities, give rise to
substantial risk and are not suitable for all borrowers and investors.
•
Helaba and persons involved with the preparation of this publication may from time to time have long or short positions in, or buy and sell
derivatives such as interest rate swaps, securities, futures or options identical to or related to those instruments mentioned herein.
•
No strategy implemented based on the publication is or will be without risk, and detrimental interest-rate and/or price moves can not be ruled out;
these could, depending on size and timing, result in severe economic loss. The occurrence of exchange rate fluctuations may, over the course of
time, have a positive or negative impact on the return to be expected.
•
Due to the personal situation of the relevant customer, this information cannot replace tax consulting in the individual case. It is therefore
recommended that potential purchasers of the financial instrument seek advice from their tax and legal consultants as regards the tax
consequences of purchasing, holding and selling the financial instruments. Tax treatment may be subject to changes in the future.
•
Helaba does not provide any accounting, tax or legal advice; such matters should be discussed with independent advisors and counsel before
entering into transactions.
•
Any third party use of this publication is prohibited without our prior written authorization.
•
Any third party use of this publication is prohibited without prior written authorization by Helaba.
© Landesbank Hessen-Thüringen Girozentrale, Frankfurt am Main und Erfurt