Fidelity Bank Financial Overview

Financial Highlights ☐ Risk assets grew by 24.2% (N139.9bn) from Dec 2015 with the devaluation of the naira accounting for 19.2% (N110.9bn) of our loan growth. The organic loan growth of 5.0% which reflects our conscious approach to increased lending activities. □ Cost of risk increased to 1.2% in 2016FY due to a 50.4% increase in impairment charge as we took a very prudent view of the impact of the currency devaluation, tougher operating environment, and declining business activities in selected sectors of our loan portfolio. ☐ Savings deposits grew by 30.1% to N155.0bn from N119.1bn in Dec 2015 as we continued to push our retail banking strategy which is being driven by our electronic products and channels. Though our non-performing loans (NPL) ratio increased to 6.6% largely due to a combination of naira devaluation and our conservative approach in appraising our risk assets portfolio, our other regulatory ratios (Liquidity Ratio / CAR) remained well above the set regulatory thresholds. We have crossed half a million customer base on subscribers to our flagship Instant Banking product:*770# (Mobile Phone USSD Technology) and we have launched a payment service in partnership with NIBSS for merchants using our Instant Banking product (*770#) called mCash. 10 www.fidelitybank.ng

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