Investor Presentaiton
Operating Efficiency
There is an increase in operating expenses particularly from general and
administrative expenses and other operating expenses.
Operating Expense (N'b)
71
66
64
7
6
9.9%
73
5
9
55
7
8
8
6
6
5
24
24
23
20
21
17
18
18
21
17
15
12
13
FY 17
FY 18
■Personnel
Others
Cost-to-Income (%)
■General & Admin
15
15
FY' 19
FY' 20
Property & Equipment
■Depreciation & Amortisation
81.4%
81.2%
76.6%
75.0%
72.2%
FY 17
FY 18
FY' 19
FY' 20
FY' 21
15
FY' 21
The Bank recorded a 9.9% increase in operating
expenses reaching N73 billion in 2021 (FY 2020: N66
billion). This was driven primarily by inflation and the
depreciation in the currency.
Consequently, cost to income ratio (CIR) improved
to 75.0% as at FY 2021.View entire presentation