COVID-19 Impact and Financial Review

The Operating Environment Stable - Improving - Declining - GDP dropped by -6.1% in Q2 from 1.9% in Q1 2020. Moderate growth in credit to the Private Sector due to rising risk Improving opportunities for key select sectors as the economy recovers Yields have stabilized at a new normal-level Hike in pump price / electricity tariff could spike political risk Naira still under pressure though the CBN has commenced FX sale Declining FDI on account of Covid-19 and market outlook Deposit growth remains positive as economic activities return Increased uncertainty around the stability of monetary policy rates Oil prices stabilized above $40 per barrel; Brent spot currently at $42.4pb. 7 www.fidelitybank.ng

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