2020 Financial Highlights

Total Expense Analysis N'million 2019FY 2020FY VAR % VAR Total Expenses: 2019FY Total Expenses 81,992 83,633 1,641 2.0% Others Exp., 40% Staff Cost, 29% Others Exp., 36% Total Expenses: 2020FY Staff Cost, 30% Staff Cost 24,129 25,367 1,238 5.1% Depreciation 5,421 6,207 786 14.5% NDIC/AMCON Cost 15,210 17,399 2,189 14.4% Technology Cost 3,301 3,477 176 5.3% Energy, 2% Energy, 1% Energy Cost 1,462 1,225 (237) -16.2% Security 1,149 1,378 229 19.9% Technology Branding & Advert 10,430 9,594 (836) -8.0% Cost, 4% Depreciation, 7% Other Expenses 20,890 18,986 (1,904) -9.1% Regulatory, 19% Technology Cost, 4% Depreciation, 7% Regulatory, 21% N'million Q1 2020 Q2 2020 Q3 2020 Q4 2020 Total Expenses: Q3 2020 Total Expenses: Q4 2020 Total Expenses 21,628 25,213 16,949 19,843 Others Exp., 38% Staff Cost, 38% Others Exp., 45% Staff Cost, 34% Staff Cost 6,398 5,792 6,430 6,747 Depreciation 1,415 1,615 1,543 1,634 NDIC/AMCON Cost 4,285 10,330 1,347 1,437 Technology Cost 920 835 879 843 Energy, 2% Energy Cost 330 282 282 331 Energy, 2% Security 335 331 338 374 Branding & Advert 2,659 1,986 2,180 2,769 Technology Cost, 5% Depreciation, 9% Technology Cost, 4% Depreciation, 8% Other Expenses 5,286 4,042 3,950 5,708 Regulatory, 8% www.fidelitybank.ng Regulatory, 7% Total operating expenses inched up by 2.0% (N1.6bn) in N83.6bn, largely due to N2.2bn growth in regulatory charges (AMCON & NDIC). Over 50.0% of our cost lines declined in 2020FY as we harnessed the benefits of remote working which contributed to the drop in our cost- to-income ratio to 65.1% 20 20

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