COVID-19 Impact and Financial Review
Deposits Analysis
► Total customer deposits increased by 14.8% to N1,405.9bn
from N1,225.2bn in 2019FY.
► However, actual growth was 13.4% while the impact of FX
rate adjustment accounted for 1.4% growth in deposits.
► LCY deposits grew by 18.0% to 1,105.2bn and was
responsible for 93.2% of the absolute growth in total deposits.
▸ FCY deposits increased by 4.2% and now accounts for 21.4%
of total deposits.
▸ FCY deposits dropped by 6.2% QoQ due to late withdrawals
from customers to bridge temporary liquidity strain for trade.
Deposits by Products - 2019FY Vs. H1 2020
N'billion
691.6 706.4
363.9
275.2
335.7
258.4
Total Deposits
N'billion
19.6%
23.6%
23.6%
23.7%
21.4%
1,352.3
1,405.9
1,225.2
1,097.0
1,116.4
300.8
320.8
288.6
215.5
263.2
881.6
853.2
936.6
1,031.4
1,105.2
H1 2019
■LCY Deposits
9M 2019
2019FY
Q1 2020
H1 2020
■FCY Deposits
■% FCY Deposits
Time Deposit
23.9%
1,405.9
1,225.2
Demand
Savings
Time
Total Deposits
2019FY
TH1 2020
24
21
Deposits by Products - H1 2020
Savings Deposit
25.9%
Demand Deposit
50.2%
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