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BANKERS TRUST REPORTS FOURTH QUARTER EARNINGS UP 24 PERCENT; RECORD EARNINGS FOR 1992

 NEW YORK, Jan. 25 /PRNewswire/ -- Bankers Trust New York Corporation (NYSE: BT) earned $170 million for the quarter ended Dec. 31, 1992, an increase of 24 percent from the $137 million earned in the prior year period. Earnings per share were $1.97, up 25 percent from $1.57 a year ago. The Corporation's return on average common equity was 19 percent.
 Net income for the full year 1992 was a record $761 million, 14 percent higher than the $667 million recorded a year earlier. Full-year earnings per share were $8.82, also up 14 percent, from $7.75 in 1991. The Corporation's return on average common equity for 1992 was 23 percent.
 Charles S. Sanford, Jr., chairman, said: "The fourth quarter and full year results continue to demonstrate the inherent strength within the firm's portfolio of businesses, encompassing financial risk management, underwriting, advisory, asset management, lending and operational services, as well as proprietary trading. Favorable trends in asset quality, together with strong reserves and capital, also position the firm well as we enter 1993."
 The following are highlights of 1992 results:
 -- a 7 percent increase in total revenue, which reflected record
 net interest revenue, record fiduciary and funds
 management revenue and a 31 percent improvement in corporate
 finance fees;
 -- an improved asset quality profile, reflected in four
 consecutive quarterly reductions in total nonperforming
 assets, resulting in a full-year decline of 17 percent, as well
 as an increase to 118 percent in the ratio of the allowance for
 credit losses to cash basis loans;
 -- a strengthened capital position, with a 13 percent increase in
 book value per common share, as well as significant
 increases in each of the Corporation's three regulatory
 capital ratios.
 An analysis of fourth quarter results follows:
 Net Interest Revenue Fully taxable net interest revenue totalled $412 million, up $235 million, or 133 percent, from the fourth quarter of 1991. Excluding $60 million of interest recognized on nonaccrual Brazilian assets, fully taxable net interest revenue increased by $175 million during the quarter. This increase resulted from substantially higher trading-related net interest generated by government securities positions used in interest rate and currency arbitrage activities and as hedges of derivative products and foreign currency trading positions. These activities benefited greatly from the steep yield curve that existed during the quarter. Additionally, the average balance of noninterest-earning trading account assets was lower than in the prior year quarter, and these assets were funded at lower rates.
 The Corporation's average total interest-earning assets were $67.5 billion for the fourth quarter of 1992, up 19 percent from the fourth quarter of 1991. This increase was attributable to higher levels of trading account assets and resale agreements.
 The $60 million of interest recognized on nonaccrual Brazilian assets represented the total of cash receipts from Brazil and proceeds from the sale of most of the past due interest bonds received from Brazil during the quarter. These bonds represented the unpaid balance of interest due for 1989 and 1990, whereas the cash remitted represented the interest on the bonds from the first quarter of 1991 through the second quarter of 1992.
 Noninterest Revenue
 Fourth quarter total trading revenue was $101 million, compared to $207 million last year. This decline was more than offset by the higher trading-related net interest revenue. On a total revenue basis, the Corporation's global capital markets and global trading businesses, particularly client-related interest rate and currency derivative products and proprietary trading of foreign currency products, remained strong in the fourth quarter. Strategies employed by a number of other businesses, including fixed income and LDC asset trading, resulted in lower trading revenue than in the prior year fourth quarter.
 Fiduciary and funds management revenue was $158 million for the quarter, up $19 million, or 14 percent, from the same period last year. Higher revenue was recorded from foreign exchange funds management for institutional clients, as well as from the Corporation's private banking, fiduciary and investment management activities.
 Fees and commissions of $144 million increased $9 million from the fourth quarter of 1991. Corporate finance fees of $83 million, included therein, increased by $15 million, or 22 percent, from the year-ago quarter, due mostly to higher fees from loan syndication, financial advisory and securities underwriting activities.
 The Corporation recorded $8 million of net losses on the repositioning of investment securities during the fourth quarter of 1992, compared with $20 million of investment securities net gains in the prior year quarter.
 Other noninterest revenue totalled $69 million, $1 million less than a year earlier. Within this revenue category, a $21 million decline in net revenue from equity investment transactions was largely due to a $30 million write-off of an investment in a single highly leveraged domestic company. Other noninterest revenue also reflected the recognition of a $15 million gain from the partial curtailment of an overseas defined benefit plan, versus a $6 million gain from the partial curtailment of the principal domestic plan in the 1991 fourth quarter. In addition, there was a $7 million increase in insurance premium revenue.
 Noninterest Expenses
 Total noninterest expenses of $623 million increased by $115 million, or 23 percent, from the fourth quarter of 1991.
 Personnel related expenses increased 29 percent from the year earlier period, to $334 million. Salaries expense increased $12 million, or 8 percent, based in part on a 6 percent increase in the average number of employees. Incentive compensation and employee benefits expense increased $64 million, or 60 percent, mostly due to higher incentive compensation.
 Non-personnel related expenses totalled $289 million for the quarter, up $39 million, or 16 percent, from last year's fourth quarter. Increases were recorded in a variety of expense categories driven mainly by higher levels of business activity, including an $8 million increase in the provision for policyholder benefits. Also, during the three months ended Dec. 31, 1991, the Corporation recorded a $12 million charge related to the cost of vacated premises.
 Provision for Credit Losses; Charge-offs
 The provision for credit losses for the quarter was $50 million, compared with $75 million in the prior year's fourth quarter. Net charge-offs for the quarter were $82 million, virtually all of which were nonrefinancing country loans. This total included $54 million of loans to highly leveraged borrowers (of which $25 million was to a single domestic credit) and $21 million of real estate loans. Net charge-offs for the fourth quarter of 1991 were $68 million.
 Asset Quality
 Total nonperforming assets declined by $91 million, or 4 percent, to $2.456 billion during the fourth quarter, while total cash basis loans decreased by $124 million, or 8 percent, to $1.377 billion at year end. Total other nonperforming assets increased by $31 million during the fourth quarter of 1992, primarily due to transfers from cash basis loans. The allowance for credit losses at Dec. 31, 1992 was $1.620 billion, representing 118 percent of total cash basis loans.
 Income Taxes
 The effective tax rate for the current quarter was 9 percent, compared with 12 percent in the 1991 quarter. The Corporation recorded $37 million of previously unrecognized federal tax benefits in the fourth quarter of 1992, compared with $23 million a year ago. Excluding these tax benefits, the 1992 fourth quarter effective tax rate was 29 percent, compared with 27 percent for the prior year quarter.
 Capital
 Total stockholders' equity of $3.809 billion at Dec. 31, 1992 was up $397 million from year-end 1991, primarily due to the retention of earnings. The Corporation estimated that its ratios of Tier 1 Capital and Total Capital to risk-adjusted assets under the Federal Reserve's year-end 1992 guidelines were approximately 7.65 percent and 13.45 percent, respectively, at Dec. 31, 1992. The Leverage Ratio was 6.05 percent at that same date. During the fourth quarter of 1992, the Federal Reserve Board modified its Risk-Based Capital guidelines with regard to the risk-weighting of certain collateralized assets and off- balance sheet positions. These modifications had the effect of increasing the Corporation's Tier 1 Capital and Total Capital ratios. Additionally, during the quarter, the Corporation's Tier 1 and Tier 2 Capital each increased by $68.5 million as the result of a $137 million dividend received from BT Securities Corporation.
 BANKERS TRUST NEW YORK CORPORATION AND SUBSIDIARIES
 FINANCIAL STATISTICS
 ($ in millions, except per share data)
 (unaudited)
 Third
 Fourth Quarter Quarter Year
 1992 1991 1992 1992 1991
 Net income $170 $137 $211 $761 $667
 Per common share
 Net income $1.97 $1.57 $2.45 $8.82 $7.75
 Cash dividends declared $.78 $.70 $.70 $2.88 $2.605
 Book value (A) $39.51 $34.93 $39.07
 Profitability ratios
 Return on average common stockholders'
 equity (pct.) 19.37 17.61 24.96 23.10 23.10
 Return on average total
 assets (pct.) .91 .82 1.07 1.03 1.09
 Net interest revenue (fully
 taxable basis) $412 $177 $312 $1,199 $769
 Average rates (fully taxable basis)
 Yield on interest-earning
 assets (pct.) 6.55 7.68 6.09 6.44 8.24
 Cost of interest-bearing
 liabilities (pct.) 4.66 6.97 4.89 5.16 7.49
 Interest rate spread(pct.)1.89 .71 1.20 1.28 .75
 Net interest margin (pct.)2.43 1.24 1.75 1.81 1.46
 Average balances
 Loans $17,023 $18,170 $16,366 $16,762 $19,075
 Total interest-earning
 assets $67,463 $56,503 $71,077 $66,329 $52,808
 Total assets $74,023 $66,148 $78,639 $74,209 $61,255
 Total interest-bearing
 liabilities $59,633 $52,173 $63,195 $59,563 $47,834
 Common stockholders'
 equity $3,348 $2,906 $3,235 $3,165 $2,740
 Total stockholders'
 equity $3,848 $3,406 $3,735 $3,665 $3,240
 At end of period
 Cash basis loans
 Secured by real estate $ 497 $ 575 $ 573
 Real estate related 83 104 75
 Highly leveraged 430 559 498
 Other nonrefinancing
 country 146 233 133
 Refinancing country 221 279 222
 Total cash basis loans $1,377 $1,750 $1,501
 Renegotiated loans
 Mexican government Par
 Bonds $611 $611 $611
 Venezuelan government Par
 Bonds - 249 -
 Other 48 31 46
 Total renegotiated
 loans $659 $891 $657
 Other nonperforming assets
 Other real estate $315 $255 $289
 Other assets 105 62 100
 Total other nonperforming
 assets $420 $317 $389
 Common stockholders' equity to
 total assets (pct.) 4.57 4.55 4.45
 Total stockholders' equity to
 total assets (pct.) 5.26 5.33 5.12
 Risk-based capital ratios
 (1992 year-end guidelines)
 Tier 1 Capital (B) (pct.)7.65 6.11 7.01
 Total Capital (B) (pct.)13.45 10.86 12.64
 Leverage Ratio (pct.) 6.05 5.15 5.99
 Employees 12,917 12,088 12,605
 (A) This calculation includes common shares issuable under deferred stock awards.
 (B) Amounts at Dec. 31, 1992 are preliminary.
 BANKERS TRUST NEW YORK CORPORATION AND SUBSIDIARIES
 CONSOLIDATED STATEMENT OF INCOME
 (in millions, except per share data)
 (unaudited)
 Three Months Ended
 December 31, Increase
 1992 1991 (Decrease)
 NET INTEREST REVENUE
 Interest revenue $1,095 $1,085 $ 10
 Interest expense 699 917 (218)
 Net interest revenue 396 168 228
 Provision for credit losses 50 75 (25)
 Net interest revenue after provision
 for credit losses 346 93 253
 NONINTEREST REVENUE
 Trading 101 207 (106)
 Fiduciary and funds management 158 139 19
 Fees and commissions 144 135 9
 Investment securities gains
 (losses) (8) 20 (28)
 Other 69 70 (1)
 Total noninterest revenue 464 571 (107)
 NONINTEREST EXPENSES
 Salaries 163 151 12
 Incentive compensation and employee
 benefits 171 107 64
 Occupancy, net 40 52 (12)
 Furniture and equipment 36 32 4
 Other 213 166 47
 Total noninterest expenses 623 508 115
 Income before income taxes 187 156 31
 Income taxes 17 19 (2)
 NET INCOME $ 170 $ 137 $ 33
 NET INCOME APPLICABLE TO COMMON
 STOCK $ 163 $ 129 $ 34
 NET INCOME PER COMMON SHARE $1.97 $1.57 $.40
 CASH DIVIDENDS DECLARED PER COMMON
 SHARE $.78 $.70 $.08
 AVERAGE COMMON SHARES OUTSTANDING 82.915 82.233 .682
 BANKERS TRUST NEW YORK CORPORATION AND SUBSIDIARIES
 CONSOLIDATED STATEMENT OF INCOME
 (in millions, except per share data)
 (unaudited)
 Year Ended
 December 31, Increase
 1992 1991 (Decrease)
 NET INTEREST REVENUE
 Interest revenue $4,219 $4,322 $(103)
 Interest expense 3,072 3,585 (513)
 Net interest revenue 1,147 737 410
 Provision for credit losses 225 238 (13)
 Net interest revenue after provision
 for credit losses 922 499 423
 NONINTEREST REVENUE
 Trading 896 1,229 (333)
 Fiduciary and funds management 648 567 81
 Fees and commissions 588 511 77
 Investment securities gains
 (losses) (4) 46 (50)
 Other 203 169 34
 Total noninterest revenue 2,331 2,522 (191)
 NONINTEREST EXPENSES
 Salaries 630 606 24
 Incentive compensation and employee
 benefits 730 630 100
 Occupancy, net 151 175 (24)
 Furniture and equipment 132 128 4
 Other 704 648 56
 Total noninterest expenses 2,347 2,187 160
 Income before income taxes 906 834 72
 Income taxes 145 167 (22)
 NET INCOME $ 761 $ 667 $ 94
 NET INCOME APPLICABLE TO COMMON
 STOCK $ 731 $ 633 $ 98
 NET INCOME PER COMMON SHARE $8.82 $7.75 $1.07
 CASH DIVIDENDS DECLARED PER
 COMMON SHARE $2.880 $2.605 $.275
 AVERAGE COMMON SHARES OUTSTANDING 82.898 81.688 1.210
 BANKERS TRUST NEW YORK CORPORATION AND SUBSIDIARIES
 CONSOLIDATED BALANCE SHEET
 ($ in millions, except par value)
 (unaudited)
 December 31,
 1992 1991
 ASSETS
 Cash & due from banks $ 1,384 $ 1,747
 Interest-bearing deposits with
 banks 3,142 4,577
 Federal funds sold 438 18
 Securities purchased under
 resale agreements 9,911 7,593
 Trading account assets 29,908 23,580
 Investment securities
 At market 852 80
 At lower of aggregate cost or market
 (market value: 1992, $5,462) 5,363 -
 At amortized cost (market
 value: 1991, $6,636) - 6,436
 Total investment securities 6,215 6,516
 Loans 17,318 17,047
 Allowance for credit losses (1,620) (1,806)
 Premises and equipment, net 660 678
 Due from customers on acceptances 276 275
 Accrued interest receivable 681 678
 Other assets 4,135 3,056
 Total assets $72,448 $63,959
 LIABILITIES
 Deposits
 Noninterest-bearing
 In domestic offices $ 3,379 $ 3,399
 In foreign offices 827 643
 Interest-bearing
 In domestic offices 6,809 5,782
 In foreign offices 14,056 13,010
 Total deposits 25,071 22,834
 Securities sold, not yet purchased 5,127 3,788
 Securities sold under repurchase
 agreements 17,451 12,343
 Other short-term borrowings 11,779 13,052
 Acceptances outstanding 276 275
 Accrued interest payable 328 347
 Other liabilities 4,615 4,827
 Long-term debt 3,992 3,081
 Total liabilities 68,639 60,547
 STOCKHOLDERS' EQUITY
 Preferred stock 500 500
 Common stock, $1 par value
 Authorized, 300,000,000 shares
 Issued: 1992, 83,678,973 shares;
 1991, 82,859,170 shares 84 83
 Capital surplus 1,291 1,262
 Retained earnings 2,228 1,743
 Common stock in treasury, at
 cost: 1992, 804,985 shares;
 1991, 440,500 shares (52) (20)
 Other (242) (156)
 Total stockholders' equity 3,809 3,412
 Total liabilities and
 stockholders' equity $72,448 $63,959
 BANKERS TRUST NEW YORK CORPORATION AND SUBSIDIARIES
 CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
 (in millions)
 (unaudited)
 Year Ended
 December 31,
 1992 1991
 Preferred Stock
 Balance, January 1 and December 31 $ 500 $ 500
 Common Stock
 Balance, January 1 83 82
 Common stock issued under employee
 benefit plans 1 1
 Balance, December 31 84 83
 Capital Surplus
 Balance, January 1 1,262 1,224
 Preferred stock and other issuance
 costs (4) -
 Common stock issued under employee
 benefit plans 33 38
 Balance, December 31 1,291 1,262
 Retained Earnings
 Balance, January 1 1,743 1,329
 Net income 761 667
 Cash dividends declared
 Preferred stock (30) (34)
 Common stock (238) (214)
 Treasury stock distributed under
 employee benefit plans (8) (5)
 Balance, December 31 2,228 1,743
 Common Stock in Treasury, at cost
 Balance, January 1 (20) (38)
 Purchases of stock (106) (35)
 Restricted stock granted, net 29 14
 Treasury stock distributed under
 employee benefit plans 45 39

 Balance, December 31 (52) (20)
 Common Stock Issuable - Stock Awards
 Balance, January 1 42 45
 Deferred stock awards granted,
 net 27 18
 Deferred stock distributed (16) (21)
 Balance, December 31 (36)
 Deferred stock awards granted, net (26) (17)
 Restricted stock granted, net (34) (17)
 Amortization of deferred compensation,
 net 52 24
 Balance, December 31 (54) (46)
 Cumulative Translation Adjustments
 Balance, January 1 (169) (92)
 Translation adjustments (93) (77)
 Balance, December 31 (262) (169)
 Securities Valuation Allowance
 Balance, January 1 17 10
 Change in unrealized net gains, after applicable
 income taxes and minority interest 4 7
 Balance, December 31 21 17
 TOTAL STOCKHOLDERS' EQUITY,
 DECEMBER 31 $3,809 $3,412
 BANKERS TRUST NEW YORK CORPORATION AND SUBSIDIARIES
 CONSOLIDATED SCHEDULE OF ALLOWANCE FOR CREDIT LOSSES
 (in millions)
 (unaudited)
 Three Months Ended Year Ended
 December 31, December 31,
 1992 1991 1992 1991
 BALANCE, BEGINNING OF PERIOD $1,652 $1,804 $1,806 $2,169
 Net charge-offs
 Charge-offs (87) (88) (343) (487)
 Recoveries 5 20 49 49
 Total net charge-offs (A) (82) (68) (294) (438)
 Losses on sales and swaps
 of refinancing country loans - (5) (117) (163)
 Total net charges to the
 allowance (82) (73) (411) (601)
 Provision for credit losses 50 75 225 238
 BALANCE, DECEMBER 31 $1,620 $1,806 $1,620 $1,806
 (A) Components:
 Secured by real estate $(21) $(11) $ (71) $ (61)
 Real estate related - (8) (27) (40)
 Highly leveraged (54) (9) (117) (63)
 Other nonrefinancing
 country (8) (49) (59) (74)
 Refinancing country 1 9 (20) (200)
 Total $(82) $(68) $(294) $(438)
 -0- 1/25/93
 /CONTACT: Kenneth A. Brause, 212-454-1120, or Thomas A. Parisi, 212-454-1686, both of Bankers Trust/
 (BT)


CO: Bankers Trust New York Corporation ST: New York IN: FIN SU: ERN

PS -- NY012 -- 8260 01/25/93 08:37 EST
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