FirstBank FY'10 & Q1'11 Investor & Analyst Presentation
Strategy &
Summary &
Transformation
Risk Mgt &
Corporate
Financial
Review
Operating
Environment
Highlights
Outlook
Governance
FirstBank FY'10 & Q1'11 Investor & Analyst Presentation - 28/04/2011
N
155
Growth in developing economies is expected to remain buoyant at 6.5%
150
With the exception of Nigeria, growth slowed in most of the oil exporting
countries in 2010
145
140
135
130
125
The Nigerian Economy
ப
GDP growth of 7.8% for the year 2010 driven mainly by
agriculture, services, wholesale and retail trade
Headline inflation growth rate of 11.8% in 2010, YoY growth of 12.8% in
March 2011
Increase in monetary policy benchmark rate by 100 basis points to 7.5%
in March 2011, to proactively curb inflationary pressures
Banking Industry
ப
☐
The first three quarters of 2010 were characterised by very low interest
rates; pick up in interest rate in Q4 2010 and 2011
AMCON has purchased around 90-92% of NPL's across the
industry, creating room for credit generation
CBN guarantee on all interbank transactions, foreign credit lines and
pension fund placements with banks extended to 30 September 2011
Compulsory adoption of IFRS to begin in the 2012 financial year
Some progress made on the recapitalisation of CBN intervened banks
12
8
4
0
Source: CBN
Jan-10
Feb-10
Apr-10
May-10
Jul-10
6
Sep-10
Oct-10
Dec-10
Feb-11
%
Overnight
16
Positive outlook for growth in the domestic economy as well as African
economy in general
Global Economy
2010 estimates of world economic growth of 4.8%, predominantly driven
by developing economies
FirstBank
Oil prices and exchange rate
Exchange Rate
Since 1894
--Oil Prices
$
Jan-09
Apr-09
Jul-09
Sep-09
Dec-09
Interbank rates
Call
--7-Day
30-Day
Mar-10
Jun-10
Sep-10
Dec-10
Mar-11
130
110
90
༡ ིི ཏྱཾ ཋ ཋ ཋ ྴ ཋ
70
50View entire presentation