Investor Presentaiton
Financial Review
Cost management remains a key priority; elevated Opex due to high inflation &
regulatory requirements
.
FY 22 Opex +9.0% y-o-y and Q1 23 +20.6% y-o-y
on account of the high inflationary environment
CIR further improved to 60.4% in Q1 23 (FY 22:
61.7%; Q1 22: 67.1%) as operating income grew
faster than Opex
OPEX Drivers (N'billion)
2.7
FY 22
117.4
43.0
28.1 17.0
17.8
72.2
66.0
364.1
Increase in regulatory costs reflect business
growth
FY 21
128.8
35.3
28.3
3.2
17.1 11.7
54.6
55.2
334.2
Q1 23
3.4
31.3
11.0
7.2 4.4
3.2
19.5
31.1
Q1 22
25.6
9.4
7.3
4.11.4.3
13.0
29.1
92.2
111.2
Staff cost
Insurance Premium
Maintenance
Other operating expenses
Depreciation & amortisation
Others (1)
Outsourced cost
Regulatory
(1) Amortisation and Impairment, directors' remuneration, cash handling charges, communication, lights and power, legal &
professional fees, donations & Subscriptions, insurance premium, rent and rates, stationery & printing, passages and travels
& other operating expenses
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