Fidelity Bank Financial Overview

Total Expense Analysis Key Highlights (N'm) 2015 FY 2016 FY VAR % VAR Total Expenses: 2015 FY Total Expenses: 2016 FY Total Expenses 64,164 67,201 3,037 4.7% Others Exp., Staff Cost 27,125 27,231 106 0.4% 33% Staff Cost, 42% Others Exp., 35% Staff Cost, 41% Depreciation 3,985 4,308 323 8.1% Regulatory Cost 9,267 9,379 112 1.2% Technology Cost 1,627 1,565 -62 -3.8% Energy 2% Energy Cost 1,015 1,252 237 23.3% Energy, 2% Security 1,295 1,345 50 3.9% Depreciation, 6% Branding & Advert 5,845 9,579 3,734 63.9% Technology Cost, 3% Regulatory, 14% Depreciation, 6% Technology Cost, 2% Regulatory, 14% Other Expenses 14,005 12,542 -1,463 -10.4% Key Highlights (N'm) Q1 2016 Q2 2016 Q3 2016 Q4 2016 Total Expenses: Q3 2016 Total Expenses 16,031 15,669 17,040 18,460 Staff Cost 6,116 6,152 6,139 8,824 Others Exp., 37% Total Expenses: Q4 2016 Staff Cost, 36% Others Exp., 37% Staff Cost, 48% Depreciation 1,038 1,069 1,134 1,067 Regulatory Cost 2,689 2,220 2,243 2,227 Technology Cost 697 830 893 -855 Energy, Energy Cost 265 327 296 364 2% Depreciation, 7% Energy, 2% Security 317 378 301 349 Depreciation, 6% Branding & Advert Technology Regulatory, 2,065 1,673 3,038 2,803 Cost, 5% 13% Other Expenses 2,843 3,021 2,997 Technology Cost, -5% Regulatory, 3,681 12% Total operating expenses grew by 4.7% YoY on the back of increased advert cost, energy cost (electricity and diesel) and depreciation charge etc. Excluding the one-off charge of N4.8bn, costs actually declined in the 2016FY 21 www.fidelitybank.ng

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