Investor Presentaiton
Deposits Analysis
► Total customer deposits increased by 3.1% YTD to N1,751.3bn
from N1,699.0bn in 2020FY.
▸ While actual growth was 2.8%, the impact of FX rate
adjustment accounted for only 0.3% growth in deposits.
➤ Low-cost deposits grew by 5.5% YTD to 1,379.3bn while
pricy deposits declined by 4.9% YTD which was responsible
for the 26.2% YoY decline in total interest expenses.
▸ FCY deposits grew by 7.7% and accounts for 18.3% of total
deposits. A combination of our renewed drive in diaspora
banking and the CBN remittance incentive led to the growth.
Deposits by Products - 2020FY Vs. Q1 2021
N'billion
883.3 937.7
424.4 441.6 391.3 372.1
N'billion
23.7%
21.4%
Total Deposits
21.2%
17.5%
18.3%
1,699.0
1,751.3
1,352.3
320.8
1,405.9
300.8
1,498.4
317.8
298.2
321.2
1,400.8
1,430.1
1,031.4
1,105.2
1,180.6
Q1 2020
■LCY Deposits
H1 2020
9M 2020
■FCY Deposits
2020FY
■% FCY Deposits
Q1 2021
1,699.0 1,751.3
Time Deposit.
21.2%
Demand
Savings
Time
1 Total Deposits
2020FY
■ Q1 2021
19
Deposits by Products - Q1 2021
Savings Deposit
25.2%
Demand Deposit
53.5%
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