FirstBank H1'11 Investor & Analyst Presentation
Financial
Review
Operating
Environment
Risk Mgt &
Corporate
Governance
Summary &
Strategy &
Transformation
Outlook
Highlights
69
1-Jan-11
Driving sustained and long lasting efficiency gains remain a priority
for us as we continue to expand our various businesses
Provision for credit and other losses (N'bn)
21.6
5.7
3.8
(1.5)
(1.0)
Q1'10
H1'10
9m'10
FY'10
Q1'11
H1'11
Group movement in loan loss provision* (N'bn)
13.7
80.0
11.4
Additional provision
*Includes interest in suspense and provision against leases
FirstBank H1'11 Investor & Analyst Presentation - 27/07/2011
(42)
14.4
FirstBank
Cost efficiency (%)
Pre-provisioning cost to income
Post-provisioning cost to income
65% 62%
64% 63%
64% 69%
65% 78% 64% 71%
59% 70%
Q1'10
H1'10
9m'10
FY'10
Q1'11
H1'11
Comments
We are optimising our costs by focusing on various initiatives such
General provision
as:
51.8
11.4
10
40
-
-
-
Migrating mass retail customers to alternative delivery channels
thereby reducing branch operational costs
Enhancing controllable cost discipline
Changing the mix of our branch architecture in favour of smaller
quick service points, as part of our hub and spoke branch strategy,
thus reducing acquisition and maintenance costs considerably
Expanding our automated solutions across a larger proportion of
the branch network
We are optimising staff productivity by ensuring appropriate
mapping, and mix of front to back office/core to non-core staff
Amounts written off
30-Jun-11
13
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