FirstBank FY'10 & Q1'11 Investor & Analyst Presentation

Highlights Summary & Strategy & Transformation Outlook Corporate Risk Mgt & Governance Financial Review Operating Environment Nigerian banking space still in "early" stage and offers an attractive outlook Stages of evolution Bank focus Volume / Growth FirstBank Profit Value Since 1894 Share of population banked Starting development Emerging Consolidation/ maturing Market features Limited financial inclusion ◉ Growing penetration (<50% of population banked) National banks dominate " Growth of consumer sector ■ Emergence of capital markets Mass banking services emerge (<80% of population banked) Multiple products offered Examples Angola 2 Banked population Telco ~10% of total population -30% penetration¹) FirstBank FY'10 & Q1'11 Investor & Analyst Presentation - 28/04/2011 ~ 17% of total population (~30% of adults) -50% Mature Credit/GDP " High penetration (>80% of population banked) South Africa ~30% of population (~60% of adults) -90% UK ~ 60% of population (~94% of adults) >100% 1) Mobile phones in circulation/100 inhabitants Source: ICT, FirstBank 36

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