Societe Generale Expressbank

SG Expressbank's mortgage loans rose 13.2% to BGN 520 mil in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank's mortgage loans reached BGN 520 mil in 2017, up 13.2% compared to the previous year. Bulgarian ba...

SG Expressbank's net profit rose 18.3% to BGN 109 mil in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank made a net profit of BGN 109 mil under revenues of BGN 265 mil in 2017, up 18.3% and 8.63% respectively ...

SG Expressbank's total revenues rose 8.63% to BGN 265 mil in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank generated total banking revenues of BGN 265 mil in 2017, up 8.63% compared to the previous year. ...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 154 168 178
Fee Income (As % Of Revenues) % 21.8 21.7 22.2
Other Income BGN mil 17.5 23.2 28.3
Total Revenues BGN mil 219 244 265
Staff Cost BGN mil 41.5 35.2 36.9
Operating Profit BGN mil 110 137 154
Provisions BGN mil 26.4 32.8 34.0
Net Profit BGN mil 74.9 92.5 109
Balance Sheet 2015 2016 2017
Interbank Loans BGN mil 518 624 594
Customer Loans BGN mil 3,250 3,972 4,316
Debt Securities BGN mil 589 733 786
Total Assets BGN mil 5,742 6,345 6,996
Shareholders' Equity BGN mil 614 703 791
Interbank Borrowing BGN mil 694 304 289
Customer Deposits BGN mil 4,325 4,817 5,219
Issued Debt Securities BGN mil 45.6 433 565
Ratios 2015 2016 2017
ROE % 12.7 14.0 14.6
ROA % 1.41 1.53 1.64
Costs (As % Of Assets) % 2.05 1.77 1.65
Costs (As % Of Income) % 49.7 43.9 41.7
Capital Adequacy Ratio % 13.7 15.0 15.4
Net Interest Margin % 2.89 2.77 2.66
Loans (As % Of Deposits) % 75.1 82.4 82.7
NPLs (As % Of Loans) % 10.9 10.1 10.9
Provisions (As % Of NPLs) % 57.4 55.5 51.9
Growth Rates 2015 2016 2017
Total Revenue Growth % 18.2 11.2 8.63
Operating Cost Growth % 12.8 -1.93 3.16
Operating Profit Growth % 24.1 24.2 12.9
Net Profit Growth % 37.0 23.4 18.3
Customer Loan Growth % 5.37 22.2 8.68
Total Asset Growth % 17.5 10.5 10.3
Customer Deposit Growth % 22.1 11.4 8.34
Shareholders' Equity Growth % 9.45 14.5 12.5
Employees 1,631 1,612 1,621

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summary Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                              
Net Interest Income BGN mil ...               125 124 124 135 154    
Total Revenues BGN mil ...               174 173 173 185 219    
Operating Profit BGN mil ...               80.2 83.2 81.2 88.7 110    
Net Profit BGN mil ...               51.6 53.5 26.1 54.7 74.9    
balance sheet                              
Interbank Loans BGN mil ...               271 37.4 253 130 518    
Customer Loans BGN mil ...               2,515 2,719 2,734 3,084 3,250    
Debt Securities BGN mil ...               154 169 184 481 589    
Total Assets BGN mil ...               3,465 3,807 3,952 4,886 5,742    
Shareholders' Equity BGN mil ...               428 483 508 561 614    
Interbank Borrowing BGN mil ...               860 900 688 667 694    
Customer Deposits BGN mil ...               2,046 2,272 2,599 3,542 4,325    
Issued Debt Securities BGN mil ...               97.0 107 97.8 51.4 45.6    
ratios                              
ROE % ...               12.8 11.7 5.27 10.2 12.7    
ROA % ...               1.59 1.47 0.674 1.24 1.41    
Costs (As % Of Assets) % ...               2.88 2.48 2.36 2.19 2.05    
Costs (As % Of Income) % ...               53.8 52.0 52.9 52.1 49.7    
Capital Adequacy Ratio % ...               12.6 11.5 13.3 13.6 13.7    
Net Interest Margin % ...               3.85 3.41 3.19 3.06 2.89    
Interest Income (As % Of Revenues) % ...               71.9 71.5 71.7 73.0 70.2    
Fee Income (As % Of Revenues) % ...               20.0 21.3 22.2 23.5 21.8    
Staff Cost (As % Of Total Cost) % ...               34.3 37.5 40.0 41.7 38.1    
Equity (As % Of Assets) % ...               12.4 12.7 12.9 11.5 10.7    
Loans (As % Of Deposits) % ...               123 120 105 87.1 75.1    
Loans (As % Assets) % ...               72.6 71.4 69.2 63.1 56.6    
NPLs (As % Of Loans) % ...               5.86 6.72 13.0 10.7 10.9    
Provisions (As % Of NPLs) % ...               68.3 64.5 44.4 55.3 57.4    
income statement Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                              
Interest Income BGN mil ...               188 190 188 195 196    
Interest Cost BGN mil ...               63.0 66.2 64.6 59.6 42.1    
Net Interest Income BGN mil ...               125 124 124 135 154    
Net Fee Income BGN mil ...               34.8 36.9 38.3 43.6 47.8    
Other Income BGN mil ...               14.1 12.4 10.5 6.42 17.5    
Total Revenues BGN mil ...               174 173 173 185 219    
Staff Cost BGN mil ...               32.1 33.8 36.6 40.3 41.5    
Depreciation BGN mil ...               15.7 16.4 17.1 17.0 11.2    
Other Cost BGN mil ...               45.8 39.9 37.8 39.4 56.3    
Operating Cost BGN mil ...               93.6 90.1 91.4 96.7 109    
Operating Profit BGN mil ...               80.2 83.2 81.2 88.7 110    
Provisions BGN mil ...               22.9 23.6 52.1 27.5 26.4    
Extra and Other Cost BGN mil ...               0 0 0 0 0    
Pre-Tax Profit BGN mil ...               57.3 59.6 29.1 61.2 83.7    
Tax BGN mil ...               5.69 6.01 2.83 6.61 8.76    
Minorities BGN mil ...               0 0.150 0.133 -0.084 0.023    
Net Profit BGN mil ...               51.6 53.5 26.1 54.7 74.9    
growth rates                              
Net Interest Income Growth % ... ...             19.0 -0.836 -0.109 9.32 13.6    
Net Fee Income Growth % ... ...             2.14 6.22 3.71 13.9 9.54    
Total Revenue Growth % ... ...             14.3 -0.305 -0.396 7.40 18.2    
Operating Cost Growth % ... ...             6.66 -3.73 1.42 5.77 12.8    
Operating Profit Growth % ... ...             24.6 3.69 -2.36 9.23 24.1    
Pre-Tax Profit Growth % ... ...             66.7 3.99 -51.2 110 36.7    
Net Profit Growth % ... ...             66.7 3.52 -51.1 109 37.0    
market share                              
Market Share in Revenues % ...               4.42 4.54 4.66 4.75 5.31    
Market Share in Net Profit % ...               10.9 10.2 5.19 7.70 8.34    
Market Share in Employees %                 4.68 4.64 4.91 5.13 5.32    
Market Share in Bank Cards %                 3.23 3.32 3.92 4.56 5.09    
Market Share in Branches % ... ... ... ... ...       3.97 3.89 3.95 3.98 4.02    
balance sheet Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                              
Cash BGN mil ...               212 514 327 735 808    
Interbank Loans BGN mil ...               271 37.4 253 130 518    
Customer Loans BGN mil ...               2,515 2,719 2,734 3,084 3,250    
Retail Loans BGN mil ... ... ...           783 835 901 1,053 1,234    
Mortgage Loans BGN mil ... ... ...           191 219 254 374 405    
Consumer Loans BGN mil ... ... ...           592 615 648 751 829    
Corporate Loans BGN mil ... ... ...           1,732 1,884 1,833 2,032 2,096    
Debt Securities BGN mil ...               154 169 184 481 589    
Fixed Assets BGN mil ...               106 110 113 86.5 61.7    
Total Assets BGN mil ...               3,465 3,807 3,952 4,886 5,742    
Shareholders' Equity BGN mil ...               428 483 508 561 614    
Of Which Minority Interest BGN mil ...               0 0.270 0.403 0.317 0.349    
Liabilities BGN mil ...               3,037 3,324 3,444 4,325 5,128    
Interbank Borrowing BGN mil ...               860 900 688 667 694    
Customer Deposits BGN mil ...               2,046 2,272 2,599 3,542 4,325    
Retail Deposits BGN mil ...               1,151 1,384 1,596 2,360 2,913    
Corporate Deposits BGN mil ...               895 887 1,003 1,182 1,412    
Sight Deposits BGN mil ... ... ... ... ... ... ... ... ... ... ... 1,143 1,610    
Term Deposits BGN mil ... ... ... ... ... ... ... ... ... ... ... 2,399 2,715    
Issued Debt Securities BGN mil ...               97.0 107 97.8 51.4 45.6    
Other Liabilities BGN mil ...               33.9 44.5 59.6 64.2 62.8    
asset quality                              
Non-Performing Loans BGN mil ...               153 191 378 350 378    
Gross Loans BGN mil ...               2,620 2,842 2,902 3,277 3,467    
Total Provisions BGN mil ...               105 123 168 193 217    
growth rates                              
Customer Loan Growth % ... ...             6.30 8.09 0.575 12.8 5.37    
Retail Loan Growth % ... ... ... ...         4.54 6.62 7.97 16.8 17.2    
Mortgage Loan Growth % ... ... ... ...         17.5 15.0 15.6 47.6 8.07    
Consumer Loan Growth % ... ... ... ...         0.954 3.92 5.25 16.0 10.4    
Corporate Loan Growth % ... ... ... ...         7.11 8.75 -2.70 10.8 3.18    
Total Asset Growth % ... ...             14.3 9.87 3.82 23.6 17.5    
Shareholders' Equity Growth % ... ...             13.8 12.8 5.12 10.5 9.45    
Customer Deposit Growth % ... ...             20.7 11.0 14.4 36.3 22.1    
Retail Deposit Growth % ... ...             12.9 20.3 15.3 47.9 23.4    
Corporate Deposit Growth % ... ...             32.4 -0.874 13.1 17.8 19.5    
market share                              
Market Share in Customer Loans % ...               4.64 4.88 4.90 5.98 6.41    
Market Share in Corporate Loans % ... ... ...           5.19 5.37 5.22 6.55 6.88    
Market Share in Retail Loans % ... ... ...           5.91 6.30 6.57 7.80 8.73    
Market Share in Consumer Loans % ... ... ...           4.14 4.46 4.82 5.73 6.80    
Market Share in Mortgage Loans % ... ... ...           2.15 2.45 2.87 4.28 4.68    
Market Share in Total Assets % ...               5.77 5.90 5.67 6.96 7.54    
Market Share in Customer Deposits % ...               3.83 3.92 4.13 5.52 6.47    
Market Share in Retail Deposits % ...               3.73 4.01 4.23 6.01 6.84    
Market Share in Corporate Deposits % ...               6.54 6.22 6.49 7.70 7.75    
ratios Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                              
ROE % ...               12.8 11.7 5.27 10.2 12.7    
ROA % ...               1.59 1.47 0.674 1.24 1.41    
Costs (As % Of Assets) % ...               2.88 2.48 2.36 2.19 2.05    
Costs (As % Of Income) % ...               53.8 52.0 52.9 52.1 49.7    
Capital Adequacy Ratio % ...               12.6 11.5 13.3 13.6 13.7    
Tier 1 Ratio % ... ...             10.4 11.2 12.2 12.8 13.1    
Net Interest Margin % ...               3.85 3.41 3.19 3.06 2.89    
Interest Spread % ... ...             3.57 3.15 2.95 2.88 2.80    
Asset Yield % ...               5.79 5.23 4.86 4.41 3.69    
Cost Of Liabilities % ... ...             2.21 2.08 1.91 1.54 0.891    
Interest Income (As % Of Revenues) % ...               71.9 71.5 71.7 73.0 70.2    
Fee Income (As % Of Revenues) % ...               20.0 21.3 22.2 23.5 21.8    
Other Income (As % Of Revenues) % ...               8.11 7.18 6.10 3.46 7.98    
Cost Per Employee USD per month ...               1,200 1,190 1,287 1,358 1,245    
Cost Per Employee (Local Currency) BGN per month ...               1,688 1,811 1,896 2,061 2,121    
Staff Cost (As % Of Total Cost) % ...               34.3 37.5 40.0 41.7 38.1    
Equity (As % Of Assets) % ...               12.4 12.7 12.9 11.5 10.7    
Loans (As % Of Deposits) % ...               123 120 105 87.1 75.1    
Loans (As % Assets) % ...               72.6 71.4 69.2 63.1 56.6    
NPLs (As % Of Loans) % ...               5.86 6.72 13.0 10.7 10.9    
Provisions (As % Of NPLs) % ...               68.3 64.5 44.4 55.3 57.4    
Provisions (As % Of Loans) % ...               4.17 4.53 6.14 6.26 6.68    
Cost of Provisions (As % Of Loans) % ...               0.939 0.901 1.91 0.945 0.833    
other data Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                              
Branches ... ... ... ... ...       150 149 149 148 148    
Employees                 1,585 1,555 1,607 1,628 1,631    
Clients mil                 0.377 0.398 0.424 0.437 0.475    
Payment Cards '000                 258 274 303 335 371    
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... ... ... 32.3 37.2    

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SG Expressbank's customer deposits rose 8.34% to BGN 5,219 mil in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank's customer deposits reached BGN 5,219 mil in 2017, up 8.34% compared to the previous year. Bulgarian banking sector accepted customer deposits of BGN 76.5 bil in 2017, up 5.94% when compared to the last year. Societe Generale ...

SG Expressbank's customer loans rose 8.68% to BGN 4,316 mil in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank's customer loans reached BGN 4,316 mil in 2017, up 8.68% compared to the previous year. Bulgarian banking sector provided customer loans of BGN 59.7 bil in 2017, up 6.73% when compared to the last year. Societe Generale Expres...

SG Expressbank's payment cards rose 6.77% to 426 '000 in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank has issued total of 426 '000 payment cards at the end of 2017, up 6.77% compared to the previous year. Bulgarian banking sector banking sector issued total of 7,532 thous. of bank cards in 2017, down 2.15% when compare...

SG Expressbank's retail deposits rose 6.19% to BGN 3,295 mil in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank's retail deposits reached BGN 3,295 mil in 2017, up 6.19% compared to the previous year. Bulgarian banking sector accepted retail deposits of BGN 47.8 bil in 2017, up 5.40% when compared to the last year. Societe Generale Expr...

SG Expressbank's npls (as % of loans) rose 8.27% to 10.9% in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank's non-performing loans reached 10.9% of total loans at the end of 2017, up from 10.1% compared to the previous year. Historically, the NPL ratio hit an all time high of 13.0% in 2013 and an all time low of 1.10% in 2006. Provisi...

SG Expressbank's net interest margin fell 4.04% to 2.66% in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank's net interest margin amounted to 2.66% in 2017, down from 2.77% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 5.65% in 2006 and an all time low of 2.66% in 2017. The...

SG Expressbank's corporate deposits rose 12.2% to BGN 1,924 mil in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank's corporate deposits reached BGN 1,924 mil in 2017, up 12.2% compared to the previous year. Bulgarian banking sector accepted corporate deposits of BGN 22.0 bil in 2017, up 13.8% when compared to the last year. Societe General...

SG Expressbank's consumer loans rose 8.01% to BGN 1,018 mil in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank's consumer loans reached BGN 1,018 mil in 2017, up 8.01% compared to the previous year. Bulgarian banking sector provided consumer loans of BGN 10.2 bil in 2017, up 4.82% when compared to the last year. Societe Generale Expres...

SG Expressbank's capital adequacy ratio rose 2.40% to 15.4% in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank's capital adequacy ratio reached 15.4% at the end of 2017, up from 15.0% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 15.6% in 2006 and an all time low of 11.5% in 2012. The Tier 1 ...

SG Expressbank's costs (as % of assets) fell 6.54% to 1.65% in 2017

By Helgi Analytics - November 05, 2019

Societe Generale Expressbank's cost to income ratio reached 41.7% in 2017, down from 43.9% compared to the previous year. Historically, the bank’s costs reached an all time high of 59.6% of income in 2008 and an all time low of 41.7% in 2017. When compared...

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Societe Generale Expressbank AD is a Bulgaria-based commercial bank. The Group is composed by the bank Societe Generale Expressbank and its subsidiary companies – Sogelease Bulgaria, Societe Generale Factoring and its associate life insurance company Sogelife Bulgaria. The Bank offers a wide range of banking and other financial services to commercial and private banking clients. Its products include loans, current and saving accounts, and deposits amongst others. At the end of 2013, the Bank operated 149 branches and employed over 1,600 persons in Bulgaria. Societe Generale Expressbank AD is headquartered in Varna, Bulgaria. The Bank is a subsidiary of Societe Generale Paris

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Finance

Societe Generale Expressbank has been growing its revenues and asset by 9.96% and 14.0% a year on average in the last 10 years. Its loans and deposits have grown by 12.2% and 16.4% a year during that time and loans to deposits ratio reached 82.7% at the end of 2017. The company achieved an average return on equity of 11.0% in the last decade with net profit growing 12.9% a year on average. In terms of operating efficiency, its cost to income ratio reached 41.7% in 2017, compared to 52.0% average in the last decade.

Equity represented 11.3% of total assets or 18.3% of loans at the end of 2017. Societe Generale Expressbank's non-performing loans were 10.9% of total loans while provisions covered some 51.9% of NPLs at the end of 2017.