GTCO Financial Results

Income Statement - Group In thousands of Nigerian Naira Dec-21 Group Dec-20 % Change Interest income calculated using effective interest rate Interest income on financial assets at fair value through Profit or loss Interest expense Net interest income Loan impairment charges Net interest income after loan impairment charges Fee and commission income 251,466,260 288,278,670 -13% 15,427,483 12,458,918 24% (46,281,121) (47,069,441) -2% 220,612,622 (8,531,155) 212,081,467 253,668,147 -13% (19,572,893) -56% 234,095,254 -9% 74,123,774 53,179,802 39% Fee and commission expense (8,472,981) (6,244,554) 36% Net fee and commission income 65,650,793 46,935,248 40% Net gains on financial instruments classified as held for trading 22,390,669 24,486,177 -9% Other income 84,402,399 76,826,192 10% Net impairment reversal/(loss) on financial assets (760,795) 3,190,517 -124% Personnel expenses (33,430,007) (37,606,138) 11% Right-of-use asset amortisation 0 (2,108,645) 100% Depreciation and amortization (35,300,097) (29,046,513) 22% Other operating expenses (93,536,753) (78,677,022) 19% Profit before income tax 221,497,676 238,095,070 -7% Income tax expense (46,658,189) (36,655,130) 27% Profit for the year from continuing operations 174,839,487 201,439,940 Profit for the year 174,839,487 201,439,940 -13% -13% 16

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