FirstBank FY'10 & Q1'11 Investor & Analyst Presentation
Operating
Environment
Highlights
Gross earnings has remained resilient inspite of the turbulent operating
environment. We have made progress in diversifying our income streams
and have seen improving traction in revenue generation
196
34
Gross earnings N'bn
Interest income
Non-interest income
231
62
12
60
122
28
177
55
41
54
57
63
16
162
50
94
136
174
47
FirstBank
Since 1894
Gross earnings split by business lines - FY 2010
N231 bn
■Retail & corporate banking
93.8% (Dec 09: 92.5%)
Investment & capital
markets 3.7% (Dec 09:
5.0%)
Other* 1.2% (Dec 09:
0.7%)
Asset management 0.9%
(Dec 09: 0.9%)
■Mortgage banking 0.4%
(Dec 09: 0.8%)
Summary &
Strategy &
Transformation
Risk Mgt &
Corporate
Financial
Review
Outlook
Governance
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•
•
•
9m'09
Q1'10
H1'10
9m'10
FY'10
Q1'11
Comments
Gross earnings for full year impacted by drop in asset yields and
slow credit growth environment during the period
Q1 Gross earnings positively impacted by improving contribution
from non-interest income, driven by commission on turnover, credit
related fees and foreign exchange income
Increased traction in revenue generation in Q1 expected to continue
in coming periods, benefiting from higher interest rate environment
and improving contribution from fees and commission
Improving earning asset mix in favour of higher yielding assets
Heightened focus on risk based pricing
Retail & corporate banking still the major contributor to
earnings, increased focus on driving Investment Banking and
Insurance businesses
FirstBank FY'10 & Q1'11 Investor & Analyst Presentation - 28/04/2011
Gross earnings split by business Lines -
N63 bn
- Q1 2011
■Retail & corporate banking
94.3% (Mar 10: 93.7%)
Investment & capital
markets 2.1% (Mar 10:
4.5%)
Asset management 1.7%
(Mar 10: 0.3%)
Other* 1.5% (Mar 10:
1.1%)
■Mortgage banking 0.4%
(Mar 10: 0.4%)
* Includes insurance brokerage, private equity and venture capital, and bureau de change business functions
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