GTBank Business and Financial Performance
Cost efficiency
Continued focus on optimization
■ Cost to income ratio : 44:79%
December 2013: 43.53%
■ Operating expense
-
-
Operating expenses grew 13.85% from N82.64bn in 2013 to
N94.08bn in 2014
Operating expense growth partly attributable to a 17.53%
growth in AMCON levy which grew as a result of the growth in
the Bank's Total Assets
On-boarding of certain expenses from our newly acquired
subsidiaries (including staff salaries) for our Kenyan group. In
2013, we bore only one month of such expenses, however in
2014, we incurred a full 12 months worth of such expenses
Cost-to-Income Ratio
57.21%
Dec-10
Cost/Income
52.94%
42.73%
43.53%
44.79%
Dec-11
Dec-12
Dec-13
Dec-14
Operating expense breakdown (N'bn)
22.792.13
27.95
GTBank
30.99
28.22
27.44
26.14
22.63
23.76
21.62 22.37
22.41 22.25
22.55
Interest expense
-
-
Interest expense grew 20.16% from N48.44bn to
N58.21bn
Increase in interest expense attributable to
•
an increase in MPR from 12% to 13%, which in turn
increased regulated interest payment on deposits
reduced market liquidity due to hikes in CRR, and the
resultant increase in competition for deposits
a 42.96% rise in interest paid on debt securities, largely
due to the $400m 5yr Eurobond issued by GTBank in
November 2013
Dec-10
16.93
3.20
Dec-11
9.52
8.10
3.98
Dec-12
AMCON Expenses ■G&A Other OpEx personnel
Expense summary (N'bn)
44.23
3.20
Dec-13
Dec-14
94.08
82.64
76.59
69.83
61.86
Dec-10
58.21
48.44
39.61
27.98
1.84
Dec-11
Fee & Commission expense
1.59
1.82
2.11
Dec-12
Dec-13
Dec-14
16
Interest expense
Operating expenseView entire presentation