Fidelity Bank Financial Overview

Operating Expenses & Staff Cost N'billion % Share 75 67.2 50% 64.2 62.44 60 45% 45 40% 42.3% 30 40.5% 36.0% 35% 0 2015 FY 2016 FY Operating Expenses 30% 2016FY Adjusted % Share of Staff Cost Cost Dynamics ► Total operating expenses increased by 4.7% YoY (8.3% QoQ, with advert cost, electricity & diesel, deprecation etc. being the key cost drivers. ► However, excluding the one-off charge of N4.8bn, total operating expenses would have dropped by 2.8% which is in line with our 2016 cost - reduction guidance of 2.5%. ► We made significant progress with our cost optimisation initiatives and we were able to drive down costs on over 45% of our expense lines YOY in the 2016 FY as shown on the next slide. Staff Cost Breakdown 15 N'billion 27.1 1.1 0.7 0.3 25.1 27.2 1.5 5.0 0.6 76.4% 20.1 2015 FY ■Wages & Salaries ■Penshion Contribution 2016 FY Staff Gratuity Plan ■Staff Retirement Benefit 22 22 Cost - Income Ratio (YoY) 77.3% 71.8% 2015 FY 2016 FY 2016FY Adjusted www.fidelitybank.ng

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