2020 Financial Highlights

Net Interest Margin Analysis NIM improved to 6.3% from 6.2% in 2019FY, largely due to 270bps drop in average funding cost despite a drop in yields on earnings assets. The decline in average funding cost was due to a combination of lower interest rate environment and increased CASA to 60.1% from 57.6% in 2019FY. ► Avg. cost of deposits dropped by 359bpts to 3.1% while the avg. borrowing cost declined by 37bpts to 5.1%. Moderation in yields on earning assets was largely caused by a lower average lending rate which stood at 10.6%. Yield on Earning Assets NIM Trend 6.6% 6.2% 6.4% 6.3% 6.3% 2019FY Q1 2020 H1 2020 9M 2020 2020FY 13.6% 6.3% 11.8% 11.5% 11.1% 10.7% 2019FY Q1 2020 H1 2020 9M 2020 2020FY 19 Funding Cost 4.4% 4.3% 4.0% 3.6% 2019FY Q1 2020 H1 2020 9M 2020 2020FY www.fidelitybank.ng

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