Investor Presentaiton
Merchant Banking and Asset Management Group (FBNQuest)
Fee/Annuity Income dominates as net interest margins contract
Appendix
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Key Financial Highlights & Performance Ratios
Profit before tax declined by 19.4% y-o-y driven
by a 53.0% decline in net interest income which
was moderated by a 28.0% growth in non-interest
income largely from the Asset Management,
Structured Products and Trustees businesses
Income statement
Statement of Financial Position
Nmn
H1 20
H1 21
y-o-y
Nmn
FY 20
H1 21
y-o-y
Gross earnings
17,480
18,337
4.9%
Loans and advances
55,759
69,729
25.1%
The drop in net interest income is attributable to
lower yields on assets y-o-y and increasing cost of
funds in Q2 21
Operating income
11,553
10,482
-9.3%
Deposits from customers
203,301 224,504
10.4%
Operating expense
5,436
5,552
2.1%
Shareholders' fund
59,253 63,092
6.5%
Profit before tax
6,118
Profit after tax
4,181
4,929 -19.4%
3,298 -21.1%
Total assets
348,730 362,385
3.9%
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The marginal growth in operating expense
despite the inflationary economy was due to
strict cost containment initiatives which we will
continue to drive for the rest of the year
AuM declined by 16% in H1 21 as investors
liquidated their holdings in search of higher
returns with the upturn in the fixed income
market.
Going forward, the focus remains on improving
net revenues, containing costs, optimizing our
platforms (people, processes), driving digital and
innovation, and actively building business
partnerships
Return On Average Equity (%)
Cost To Income (%)
16.3
10.8
Non-performing Loan Ratio (%)
2.6
48.1
45.8
2.2
H1 20
H1 21
H1 20
H1 21
FY 20
H1 21
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