FirstBank FY'10 & Q1'11 Investor & Analyst Presentation
Highlights
Summary &
Outlook
Strategy &
Transformation
Risk Mgt &
Corporate
Governance
Financial
Review
Operating
Environment
In spite of the recent turbulence, strong growth is expected in the
Nigerian banking sector over the next few years
[N bn, %]
Total Assets
CAGR +29%
CAGR +24%
6,738
10,431
15,920
17,523
18,574
22,846
28,558
35,697
CAGR +35%
CAGR +25%
3,449
5,363
8,410
9,538
11,446
14,307 17,884 22,355
Total Deposits
CAGR -7%
CAGR +10%
2,7%
2,9%
2,9%
2,1%
2,3% 2,5%
2,7%
ROA
-4,4%
CAGR -12%
CAGR +19%
22%
20%
19%
13%
15%
18%
22%
ROE
-56%
CAGR +38%
CAGR +22%
402
422
1,122
1,204
1,468
1,791
2,185
2,666
Net revenue
CAGR +34%
CAGR +21%
133
242
441
433
526
638
775
PBT
-916
FirstBank
Since 1894
Comments
Banking sector asset growth
grew with 29% CAGR from
2006-10 going forward, 24%
growth assumed
=
Total Deposits grew
constantly up until 2010, slight
slow down during crisis
PBT growth significantly
accelerated from 2005 to
2008, turned negative in 2009
to recover in 2010
2009, the large portfolio of
illiquid assets and weak
capital impeded the capacity
of the industry to lend and
affected PBT
CAGR +32%
CAGR -40%
11%
9%
38%
32%
25%
7%
10%
7%
NPL
CAGR 0%
CAGR -6%
Consensus forecast
06
90
07
08
80
FirstBank FY'10 & Q1'11 Investor & Analyst Presentation - 28/04/2011
90
09
10
11E
12E
13E
Actual
Source: FirstBank, Analyst reports
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