COVID-19 Impact and Financial Review
Funding Base Analysis
N'million
2019FY
H1 2020
VAR
% VAR
Funding Structure: 2019FY
Demand Deposits
691,610
706,356
14,746
2.1%
Debt, 9%
Funding Structure: H1 2020
Equity, 12%
Debt, 9%
Equity, 12%
Savings Deposits
275,219
363,920
88,701
32.2%
Tenor Deposits
258,384
335,669
77,285 29.9%
Demand, 32%
Other Borrowings
On-Lending
76,308 75,788
250,139 255,996
(520) -0.7%
5,857 2.3%
On-lending,
13%
Demand, 35%
On-lending,
12%
Debt Securities
175,278 186,085
10,807
6.2%
Equity
Savings, 17%
Total
234,030 250,689
1,960,968 2,174,503
16,659
7.1%
Savings, 14%
213,535
10.9%
Other
Borrowings, 4%
Time, 13%
Other
Borrowings, 3%
Time, 15%
N'million
H1 2019 H1 2020
VAR
% VAR
Funding Structure: H1 2019
Funding Structure: H1 2020
Demand Deposits
561,066
Savings Deposits
247,672
Tenor Deposits
Other Borrowings
On-Lending
288,273
89,578
234,903
Debt Securities
Equity
46.9%
335,669 47,396 16.4%
75,788 (13,790) -15.4%
255,996 21,093 9.0%
173,420 186,085 12,665
215,566 250,689 35,123
706,356
363,920 116,248
145,290
25.9%
Debt, 10%
Equity, 12%
Debt, 9%
Equity, 12%
Demand, 32%
On-lending,
13%
Demand, 31%
On-lending,
12%
Total
1,810,478 2,174,503 364,025
7.3%
16.3%
20.1%
Savings, 14%
Savings, 17%
Other
Borrowings, 5%
Time, 16%
Other
Borrowings, 3%
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Time, 15%
Total funding base was boosted by 14.8% YTD growth in total deposits; low-cost deposits accounted for 57.2% of the growth in deposits.
Total deposits now represents 64.7% of total funding base (2019FY: 62.5%) and 73.1% of interest-bearing liabilities (2019FY: 70.9%)
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