FirstBank FY'10 & Q1'11 Investor & Analyst Presentation
Operating
Environment
Highlights
Financial
Review
Risk Mgt &
Corporate
Governance
Summary &
Strategy &
Transformation
Outlook
Sustained improvement in asset quality
67.1%
Asset quality ratios
NPL N'bn
NPL coverage -- NPL %
Cost of risk
87.8%
84.2%
77.2%
70.1%
71.5%
8.2%
7.9%
5.7%
5.8%
7.7%
7.3%
ㅁ
4.3%
-0.2%
-0.1%
0.5%
1.8%
0.3%
94
91
65
70
94
99
Dec-09
Mar-10
Jun-10
Sep-10
Dec-10
Mar-11
91
NPLs by SBU's N'bn (bank only)
96
FirstBank
Since 1894
NPL Sector exposure Mar 11 (bank only)
Retail others
24.1% (Dec 10:
22.0%), 24.1%
Others 1.8% Agriculture
(Dec 10: 1.5%) 4.4% (Dec 10:
2.5%)
Manufacturing
1.7% (Dec 10:
1.8%)
Construction
.1.5% (Dec 10:
1.4%)
•
•
•
•
Oil downstream
4.0% (Dec 10:
4.0%)
N95.8 tn
Oil & gas services
12.0% (Dec 10:
11.6%)
Capital market
3.7% (4.7%)
Commercial
property 3.1%
(Dec 10: 5.7%)
Comments
General
commerce 5.8%
(Dec 10: 5.3%)
Information and
communication
1.4% (Dec 10:
2.5%)
Real estate
construction
25.9% (Dec 10:
Residential 24.1%)
mortgage 13.3%
(Dec 10: 12.9%)
NPL portfolio reflects the broad based nature of our loan
book, cutting across various economic segments
Improving asset quality across various matrices
In December 2010, we sold toxic loans worth 10.5 billion to
AMCON in exchange for bonds worth 5.9 billion
Q1 2011 results do not reflect the impact of the 2nd tranche of
NPLs to be sold to AMCON, estimated at N31 billion
Independent recovery efforts have been extended to cover
substantial and doubtful accounts
Real estate construction within institutional banking remains a
key risk segment; strategy is to finish the projects and realise
the proceeds
*Others include water supply, finance and insurance, power & energy, government and transportation
43
47.0%
53.2%
51
Retail banking
Public sector banking
•
0.1
-0.1%
1.4
1.5%
Institutional banking
28
29.2%
Corporate office
33
36.1%
Corporate banking
0.8
09%======
0.9
0.9%
15
15.9%
15.2%
15
Dec-10
Mar-11
FirstBank FY'10 & Q1'11 Investor & Analyst Presentation - 28/04/2011
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