Investor Presentaiton
Total Expense Analysis
N'million
Q1 2020 Q1 2021
VAR
% VAR
Total Expenses: Q1 2020
Total Expenses
21,628
22,963
1,335
6.2%
Others Exp., 38% Staff Cost, 30%
Others Exp., 26%
Total Expenses: Q1 2021
Staff Cost, 24%
Staff Cost
6,398
5,494
(904)
-14.1%
Depreciation
1,415
1,686
271
19.2%
Energy, 2%
Energy, 1%
NDIC/AMCON Cost
4,285
8,608
4,323
100.9%
Technology Cost
920
823
(97)
-10.5%
Energy Cost
330
314
(17)
-5.1%
Security
335
320
(15) -4.4%
Technology
Branding & Advert
2,659
1,548
(1,111)
-41.8%
Cost, 4%
Depreciation,
7%
Technology
Cost, 4%
Depreciation,
7%
Other Expenses
5,286
4,170
(1,116)
-21.1%
Regulatory, 20%
Regulatory, 37%
N'million
Q4 2020
Q1 2021
Total Expenses
19,843
22,963
VAR
3,120
Staff Cost
6,747
5,494 (1,253)
% VAR
15.7%
-18.6%
Total Expenses: Q4 2020
Total Expenses: Q1 2021
Others Exp., 45% Staff Cost, 34%
Others Exp., 26%
Staff Cost, 24%
Depreciation
1,634
1,686
52
3.2%
Energy, 1%
NDIC/AMCON Cost
1,437
8,608
7,171
499.0%
Technology Cost
843
823
(20)
-2.3%
Energy Cost
331
314
(17)
-5.1%
Security
Energy, 2%.
374
320
(54) -14.4%
Branding & Advert
2,769
1,548
(1,221)
Other Expenses
5,708
4,170
(1,538)
-44.1%
-26.9%
Technology
Cost, 4%
Regulatory, 37%
Total operating expenses inched up by 6.2% YoY to N23.0bn, largely due to N4.3bn growth in regulatory charges (AMCON & NDIC).
We recognized AMCON Charge of N6.7bn in Q1 2021 Vs. NO.0 in Q4 2020 (Q1 2020: N3.0bn) which led to the 15.7% QoQ growth in OPEX.
16
www.fidelitybank.ng
Technology
Cost, 4%
Depreciation,
8%
Depreciation,
7%
Regulatory, 7%View entire presentation