Investor Presentaiton
Operating expenses
41.5
Cost to Income Ratio (%)
35.3
34.0
34.8
30.3
33.8
32.6
33.1
33.5
Q4 20
Q1 21
Q2 21
CI Ratio (YTD)
CI Ratio (QTD)
Q3 21
Operating expenses trends (USD mn)
+11%
Guidance
Q4 21
•
+16%
618
557
532
508
516
Other Cost
170
139
112
116
107
49
IT & Commun.
42
40
41
41
64
67
65
65
Dep. & Amort.
62
309
289
304
315
334
Staff Cost
Q4 20
Q1 21
Q2 21
Q3 21
Q4 21
Highlights
Income
Expenses
Risk
Capital
Liquidity
Macro
Divisional
Key Highlights
YTD Cost to income ratio improved to 33.5% from 33.8% last year supported by
positive income momentum
Positive jaws as 3% Income growth outpaced 2% increase in costs
Operating expenses up as business recovers
-
2022 Cl guidance remains within 35%
Q4-21 expenses up 11% y-o-y and 16% q-o-q
-
-
Q4-21 CI ratio increased to 34.8% due to seasonality
Higher staff cost due to retail incentives and investment for future growth
Other costs up due to seasonality, campaigns and IT investment
Operating expenses composition (%)
Breakdown as at FY-21
Dep. & Amort. 12%
Other 12%
Staff 57%
IT 5%
Occupancy 3%
Equip. & Supp. 2%
Commun. 3%
Service & Legal 4%
Marketing 2%
18View entire presentation