FirstBank FY'10 & Q1'11 Investor & Analyst Presentation
Summary &
Strategy &
Transformation
Risk Mgt &
Outlook
Corporate
Governance
Highlights
Steady improvement in profitability
Profit before and after tax (N'bn)
PBT PAT
12
5
15 12
32 25
41 33
43
33
16 13
FirstBank
Since 1894
FY 2010 PBT split by business lines
N43 bn
Retail & corporate banking
84.7% (Dec 09: 49.4%)
Asset management 6.7% (Dec
09:31.0%)
Investment & capital markets
6.2% (Dec 09: 12.5%)
Other 2.2% (Dec 09: 6.4%)
Mortgage banking 0.1% (Dec
09: 0.6%)
•
•
9m'09
Q1'10
H1'10
9m'10
FY'10
Q1'11
Comments
Results positively impacted by improvement in interest rates towards
the end of the year
Profitability benefiting largely from reduced funding costs
•
PBT impacted by general provisions
•
•
•
Slight growth of 1.5% in Q1 profits when compared to corresponding
period in 2010, profits positively impacted by reduced interest
expense as well as improved contribution of non-interest income to
revenue
Strong focus on improving processes at both the group and bank
level, in order to drive increased non-interest revenue contribution
Increased focus on further optimising our balance sheet to drive
enhanced yield
Q1 2011 PBT split by business lines
N16 bn
Retail & corporate banking
91.3% (Mar 10: 69.6%)
Investment & capital markets
4.3% (Mar 10: 9.7%)
Asset management 1.7% (Mar
10: 18.1%)
Other* 2.6% (Mar 10: 1.8%)
Mortgage banking 0.1% (Mar
10: 0.4%)
FirstBank FY'10 & Q1'11 Investor & Analyst Presentation - 28/04/2011
* Includes insurance brokerage, private equity and venture capital, and bureau de change business functions
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