FirstBank H1'11 Investor & Analyst Presentation
Operating
Environment
Highlights
Summary &
Strategy &
Transformation
Outlook
Risk Mgt &
Corporate
Governance
Financial
Review
CALOR
By focusing on branch efficiency, customer service and product
awareness, we grew our deposits quite strongly- especially in the low
cost segments
Deposit mix by type (\'bn)
FirstBank
Since 1894
Earning assets (N'bn)
Current accounts
Savings accounts Term deposits
Domiciliary accounts
A1.99 tn
A2.21 tn
N2.63 tn
263
13%
398
18%
497
19%
124 9%
196
14%
236 15%
177
12%
191
12%
315
16%
550
28%
513
350
25%
270
19%
247 16%
276
19%
284
18%
23%
324
17%
842
32%
Investment*
24
1%
36
2%
387 28%
435 28%
388 27%
432 27%
416
29%
476
25%
62
2%
Due from other
banks
Treasury bills
1,151
58%
1,264
57%
Loans and advances
1,236 47%
546 39%
545
38%
632
41%
609
42%
675
43%
804
42%
Dec-10
Mar-11.
Jun-11
Mar-10
Jun-10
Sep-10
Dec-10
Mar-11
Jun-11
Balance sheet efficiency
Leverage ratio (times) ― Gross loan to deposit ratio
84.9%
85.4%
81.3%
79.9%
77.3%
*Investment in bonds, securities, subsidiaries/associates
Comments
Improving deposit mix, with cost of funds/interest expense declining
despite rising interest rates and increasing volume of deposits
Low cost deposits now account for 83% of deposits, compared to
80% at the beginning of the year
67.0%
Our strong franchise, combined with our customer centric approach is
driving faster than average growth in deposits
Innovative product development, as well as mobile payment
initiatives will play a pivotal role in redefining financial market
boundaries and customer experience
9.1
7.4
7.3
7.8
6.8
7.3
Plans to expand branch footprint via quick service points, will drive
further growth in retail deposits
Mar-10
Jun-10
Sep-10
FirstBank H1'11 Investor & Analyst Presentation - 27/07/2011
Dec-10
Mar-11
Jun-11
Leveraging our balance sheet via cheap retail deposits provides
significant scope to grow loans to customers
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