2020 Financial Highlights
Financial Highlights
Summary of Income Statement: QoQ Change
N'million
Q1 2020
Q2 2020
Q3 2020
Q4 2020
VAR
% VAR
Gross Earnings
51,159
54,596
49,275
51,174
1,898
3.9%
Interest Income Loans
32,340
31,373
33,208
33,555
347
1.0%
Interest Income Liquid Assets
11,586
12,323
11,639
10,729
(910)
-7.8%
Total Interest Income
43,926
43,696
44,847
44,284
(563)
-1.3%
Interest Expense Customer Deposits
(12,673)
(13,595)
(11,130)
(7,825)
(3,305)
-29.7%
Interest Expense Borrowings
(6,653)
(6,381)
(7,037)
(7,336)
299
Total Interest Expense
(19,326)
(19,976)
(18,167)
(15,161)
(3,006)
4.2%
-16.5%
Net Interest Income
24,600
23,720
26,680
29,123
2,444
9.2%
FX Income
1,965
6,354
(362)
2,019
2,381
657.8%
E-banking Income
1,624
1,546
1,855
2,217
363
19.6%
Other Fee Income (Net)
2,126
4,710
1,356
(988)
(2,345)
-172.9%
Net Fee Income
5,715
12,610
2,849
3,248
399
14.0%
Net Revenue
30,315
36,330
29,529
32,371
2,842
9.6%
Total Expenses
(21,628)
(25,213)
(16,949)
(19,843)
2,894
17.1%
Operating Profit
8,687
11,117
12,580
12,528
(52)
-0.4%
Net Impairment Losses
(2,103)
(5,738)
(3,194)
(5,823)
2,628
82.3%
Profit Before Tax
6,583
5,380
9,385
6,706
(2,680)
-28.6%
Please note: Gross earnings was calculated based on total fees & commission income
Net fee income includes net gains/(losses) from financial instruments
15
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