Investor Presentaiton
Financial Review
Controlled costs despite high inflationary environment, currency devaluation and
increased regulatory cost
•
Opex increased by 9.6% y-o-y to #152.6 bn;
materially below the inflation rate of 17.8%
OPEX Drivers (N'bn)
Regulatory cost increased by +35.4% y-o-y; the
largest driver for the opex increase over the
comparable period
2.3
H1 21
51.2
15.1
13.3 8.5 4.8
26.7
30.7
152.6
Maintaining focus on cost control remains key
priority
H1 20
49.5
13.4
11.6
9.0 3.53.7
25.8
22.7
139.2
Staff cost
Outsourced cost
Others (1)
(1) Amortization and Impairment, directors' remuneration, cash handling charges, communication, lights and power, legal &
professional fees, donations & Subscriptions, insurance premium, rent and rates, stationery & printing, passages and travels
& other operating expenses
Maintenance
Advert & corporate promotions
Regulatory
Depreciation & amortisation
Operational & other losses
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