IBL Financial Overview
Operating Profit
"
IBL reported an increase in profit before tax of 24.9%. Our client engagement has been proactive, resulting in good client acquisition across both
private and corporate clients in the period under review. Profits increased primarily due to:
Lower ECL impairment charges. Higher specific impairments and the inclusion of an additional model overlay were offset by stable portfolio
impairments due to broadly flat lending books and an increased level of recoveries
Lower operating costs due to headcount containment and lower discretionary spend
Lower impairment of associates, goodwill and amortisation of acquired intangibles. The decrease in impairment of associate relates to
the non-repeat of a prior year goodwill impairment to the equity accounted value of the group's holding in IEP.
R'mn
6,000
5,000
3,892
4,000
(279)
113
(368)
(20)
3,000
521
2,000
1,000
▼(10.7%)
▲ 1.3%
0
Mar 20
Net interest income
Net fee and
commission income
▼(40.0%)
Investment and
associate income
▼(5.1%)
Customer flow,
balance sheet
management and
other trading income
163
839
▲ (2.5%)
▲ (84.7%)
▲ (47.9%)
Expected credit loss
impairment charges
Operating costs
4,861
Impairment of
associates, goodwill
and amortisation of
acquired intangibles
Mar 21
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