FirstBank H1'11 Investor & Analyst Presentation
Operating
Environment
Highlights
Summary &
Strategy &
Transformation
Outlook
Risk Mgt &
Corporate
Governance
Financial
Review
Gross earnings benefiting from improving yield environment as well as
growth in non-interest income on the back of increasing activity
Gross earnings N'bn
Interest Income
Non Interest Income
122
28 23%
231
57
25%
177
41
23%
FirstBank
Since 1894
Group Gross earnings split by business lines
140
33
23%
N139.7 bn
174 75%
62
63
136 77%
12 20%
16 26%
107 77%
94 77%
50
80%
47
74%
Retail & Corporate Banking
94.2% (Jun 10: 89.7%)
Investment & Capital Markets
2.2% (Jun 10: 2.2%)
Asset Management 2.0% (Jun
10: 2.8%)
■Mortgage Banking 0.5% (Jun
10: 0.4%)
Other* 1.1% (Jun 10: 1.3%)
Q1'10
H1'10
9m'10
FY'10
Q1'11
H1'11
* Includes insurance brokerage, private equity and venture capital, and bureau de change business functions
Comments
•
•
.
Sustained improvements in revenue generation, driven by both
interest and non-interest income growth
Gross earnings also benefiting from repricing of risk assets, increase
in the volume of earning assets as well as higher interest rate
environment
Strong growth in non interest income; benefiting from rising credit
related fees, COT and financial advisory fees
Improvements in service quality, increased account activity as well
as focus on shorter tenured loans; thus positively impacting non
interest income
Drive to scale up retail current accounts in order to enhance fees
and commission income further
FirstBank H1'11 Investor & Analyst Presentation - 27/07/2011
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