Fidelity Financial Review & Guidance
Overview Operating Environment Financial Review Guidance
Customer deposits is the largest funding source at 63.9% of total funding base.
N'million
2020FY
2021FY
VAR
% VAR
Demand Deposits
883,300
1,031,092
147,792
16.7%
Savings Deposits
424,384
477,174
52,790
12.4%
Tenor Deposits
391,342
516,540
125,198
32.0%
Other Borrowings
99,055
88,974
(10,082)
-10.2%
On-Lending
308,097
377,492
69,395
22.5%
Debt Securities
161,916
379,439
217,523
134.3%
Equity
273,533
297,769
24,236
Total
2,541,627 3,168,480
626,852
8.9%
24.7%
9%
2021FY
12% 11%
33%
6%
35%
12% 2020FY
12%
4%
3% 15%
17%
16%
15%
Demand
■Savings
■Time
■Other Borrowings
■ On-lending
■Debt
Equity
Customer deposits increased across all deposit types
by 19.2% YTD to N2,024.8bn from N1,699.2bn in 2020FY,
in line with our 2021 FY guidance.
➤ FCY deposits increased 26.4% ($196.4m) to
$941.3m from $744.8m in 2020FY, after adjusting
for FX rate change.
LCY deposits increased by 16.0% to N1,625.6bn.
Low cost deposits grew by 15.3% and was responsible
for 61.6% of the absolute growth in total customer
deposits.
➤ Savings deposit grew by 12.4% YTD, making it the 9th
consecutive double-digit growth in savings deposits.
➤ The combination of 10-yr N41.2bn Junior Unsecured
Notes issued in Jan 2021 @ 8.5% and 5-yr $400m Senior
Unsecured Notes issued in Oct 2021 @ 7.625%, led to the
134.3% increase in debt securities.
18View entire presentation