Federal International Finance

Federal International Finance's net interest income rose 14.5% to IDR 7,421 bil in 2018

By Helgi Analytics - November 05, 2019

Federal International Finance generated total banking revenues of IDR 7,502 bil in 2018, up 14.2% compared to the previous year...

Federal International Finance's net interest margin rose 6.70% to 23.0% in 2018

By Helgi Analytics - November 05, 2019

Federal International Finance's net interest margin amounted to 23.0% in 2018, up from 21.6% compared to the previous year. ...

Profit Statement 2016 2017 2018
Net Interest Income IDR bil 6,060 6,483 7,421
Fee Income (As % Of Revenues) % -1.40 -1.78 -1.91
Other Income IDR bil 226 202 224
Total Revenues IDR bil 6,200 6,568 7,502
Operating Profit IDR bil 3,626 4,108 4,725
Provisions IDR bil 797 1,233 1,406
Net Profit IDR bil 1,806 1,996 2,315
Balance Sheet 2016 2017 2018
Interbank Loans IDR bil 0 0 0
Customer Loans IDR bil 28,001 29,272 32,090
Debt Securities IDR bil 0 0 0
Total Assets IDR bil 29,411 30,753 33,796
Shareholders' Equity IDR bil 4,955 5,332 6,007
Interbank Borrowing IDR bil 347 8,438 7,391
Customer Deposits IDR bil 0 0 0
Issued Debt Securities IDR bil 22,804 15,403 18,556
Ratios 2016 2017 2018
ROE % 33.8 38.8 40.8
ROA % 6.21 6.64 7.17
Costs (As % Of Assets) % 8.85 8.18 8.60
Costs (As % Of Income) % 41.5 37.5 37.0
Capital Adequacy Ratio % 16.8 17.3 17.8
Net Interest Margin % 20.8 21.6 23.0
Growth Rates 2016 2017 2018
Total Revenue Growth % 13.4 5.94 14.2
Operating Cost Growth % -2.32 -4.41 12.8
Operating Profit Growth % 28.0 13.3 15.0
Net Profit Growth % 19.8 10.5 16.0
Customer Loan Growth % 7.85 4.54 9.63
Total Asset Growth % 2.35 4.56 9.90
Shareholders' Equity Growth % -13.4 7.61 12.6
Employees 18,675 17,452 17,162

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summary Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                    
Net Interest Income IDR bil       4,865 3,909 4,584 5,296 6,060    
Total Revenues IDR bil       4,625 4,275 4,772 5,467 6,200    
Operating Profit IDR bil       2,101 2,177 2,517 2,832 3,626    
Net Profit IDR bil       1,142 1,205 1,307 1,507 1,806    
balance sheet                    
Interbank Loans IDR bil       0 0 0 0 0    
Customer Loans IDR bil       17,415 18,894 23,267 25,962 28,001    
Debt Securities IDR bil       0 0 0 0 0    
Total Assets IDR bil       19,456 21,522 25,378 28,734 29,411    
Shareholders' Equity IDR bil       3,906 4,342 4,586 5,723 4,955    
Interbank Borrowing IDR bil       0 0 9,494 12,998 347    
Customer Deposits IDR bil       0 0 0 0 0    
Issued Debt Securities IDR bil       13,450 14,820 9,996 8,779 22,804    
ratios                    
ROE %       31.0 29.2 29.3 29.2 33.8    
ROA %       6.20 5.88 5.57 5.57 6.21    
Costs (As % Of Assets) %       13.7 10.2 9.62 9.74 8.85    
Costs (As % Of Income) %       54.6 49.1 47.3 48.2 41.5    
Capital Adequacy Ratio % ... ... ... ... 20.2 18.1 19.9 16.8    
Net Interest Margin %       26.4 19.1 19.5 19.6 20.8    
Interest Income (As % Of Revenues) %       105 91.4 96.1 96.9 97.7    
Fee Income (As % Of Revenues) %       0 0 -0.770 -1.43 -1.40    
Equity (As % Of Assets) %       20.1 20.2 18.1 19.9 16.8    
Loans (As % Assets) %       89.5 87.8 91.7 90.4 95.2    
valuation                    
Number Of Shares (Average) mil       280 280 280 280 280    
Earnings Per Share (EPS) IDR       4,079 4,304 4,669 5,381 6,449    
Book Value Per Share IDR       13,951 15,506 16,379 20,439 17,698    
Earnings Per Share Growth % ...     5.86 5.54 8.46 15.3 19.8    
Book Value Per Share Growth % ...     12.5 11.1 5.63 24.8 -13.4    
income statement Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                    
Interest Income IDR bil       4,865 5,193 5,989 7,155 8,045    
Interest Cost IDR bil       0 1,284 1,405 1,860 1,984    
Net Interest Income IDR bil       4,865 3,909 4,584 5,296 6,060    
Net Fee Income IDR bil       0 0 -36.8 -78.0 -86.5    
Other Income IDR bil       -240 366 225 249 226    
Total Revenues IDR bil       4,625 4,275 4,772 5,467 6,200    
Operating Cost IDR bil       2,524 2,098 2,255 2,635 2,574    
Operating Profit IDR bil       2,101 2,177 2,517 2,832 3,626    
Provisions IDR bil       588 565 619 587 797    
Extra and Other Cost IDR bil       0 0 158 201 218    
Pre-Tax Profit IDR bil       1,513 1,612 1,739 2,043 2,611    
Tax IDR bil       371 407 432 537 805    
Minorities IDR bil       0 0 0 0 0    
Net Profit IDR bil       1,142 1,205 1,307 1,507 1,806    
growth rates                    
Net Interest Income Growth % ...     7.22 -19.7 17.3 15.5 14.4    
Net Fee Income Growth % ... ... ... ... ... ... 112 11.0    
Total Revenue Growth % ...     -7.04 -7.57 11.6 14.6 13.4    
Operating Cost Growth % ...     -14.4 -16.9 7.51 16.8 -2.32    
Operating Profit Growth % ...     3.74 3.60 15.6 12.5 28.0    
Pre-Tax Profit Growth % ...     6.97 6.51 7.88 17.5 27.8    
Net Profit Growth % ...     5.86 5.54 8.46 15.3 19.8    
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                    
Cash IDR bil       687 575 437 131 241    
Interbank Loans IDR bil       0 0 0 0 0    
Customer Loans IDR bil       17,415 18,894 23,267 25,962 28,001    
Retail Loans IDR bil       17,415 18,894 23,267 25,962 28,001    
Mortgage Loans IDR bil       0 0 0 0 0    
Consumer Loans IDR bil       17,415 18,894 23,267 25,962 28,001    
Corporate Loans IDR bil       0 0 0 0 0    
Debt Securities IDR bil       0 0 0 0 0    
Fixed Assets IDR bil       230 247 284 285 310    
Total Assets IDR bil       19,456 21,522 25,378 28,734 29,411    
Shareholders' Equity IDR bil       3,906 4,342 4,586 5,723 4,955    
Of Which Minority Interest IDR bil       0 0 0 0 0    
Liabilities IDR bil       15,550 17,180 20,792 23,011 24,456    
Interbank Borrowing IDR bil       0 0 9,494 12,998 347    
Customer Deposits IDR bil       0 0 0 0 0    
Issued Debt Securities IDR bil       13,450 14,820 9,996 8,779 22,804    
Other Liabilities IDR bil       2,100 2,360 1,301 1,234 1,304    
asset quality                    
Gross Loans IDR bil       17,415 18,894 24,758 27,499 29,308    
Total Provisions IDR bil ... ... ... ... ... 1,491 1,537 1,308    
growth rates                    
Customer Loan Growth % ...     9.28 8.49 23.1 11.6 7.85    
Retail Loan Growth % ...     9.28 8.49 23.1 11.6 7.85    
Consumer Loan Growth % ...     9.28 8.49 23.1 11.6 7.85    
Total Asset Growth % ...     11.9 10.6 17.9 13.2 2.35    
Shareholders' Equity Growth % ...     12.5 11.1 5.63 24.8 -13.4    
ratios Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                    
ROE %       31.0 29.2 29.3 29.2 33.8    
ROA %       6.20 5.88 5.57 5.57 6.21    
Costs (As % Of Assets) %       13.7 10.2 9.62 9.74 8.85    
Costs (As % Of Income) %       54.6 49.1 47.3 48.2 41.5    
Capital Adequacy Ratio % ... ... ... ... 20.2 18.1 19.9 16.8    
Net Interest Margin %       26.4 19.1 19.5 19.6 20.8    
Interest Spread % ...     26.4 17.5 18.1 18.0 19.3    
Asset Yield %       26.4 25.3 25.5 26.4 27.7    
Cost Of Liabilities % ...     0 7.84 7.40 8.49 8.36    
Interest Income (As % Of Revenues) %       105 91.4 96.1 96.9 97.7    
Fee Income (As % Of Revenues) %       0 0 -0.770 -1.43 -1.40    
Other Income (As % Of Revenues) %       -5.19 8.56 4.71 4.56 3.65    
Equity (As % Of Assets) %       20.1 20.2 18.1 19.9 16.8    
Loans (As % Assets) %       89.5 87.8 91.7 90.4 95.2    
Provisions (As % Of Loans) % ... ... ... ... ... 6.41 5.92 4.67    
Cost of Provisions (As % Of Loans) %       3.53 3.11 2.94 2.38 2.95    
other data Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                    
Employees       12,603 15,429 15,754 16,788 18,675    

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Finance

Federal International Finance has been growing its revenues and asset by 11.1% and 5.56% a year on average in the last 3 years. Its loans and deposits have grown by 7.32% and 0% a year during that time and loans to deposits ratio reached at the end of 2018. The company achieved an average return on equity of 37.8% in the last three years with net profit growing 15.4% a year on average. In terms of operating efficiency, its cost to income ratio reached 37.0% in 2018, compared to 38.7% average in the last three years.

Equity represented 17.8% of total assets or 18.7% of loans at the end of 2018. Federal International Finance's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2018.