Fidelity Bank Financial Overview

Cost Dynamics - Reduction On 45% Of Expense Lines Breakdown of Operating Expenses: 2015FY Vs 2016FY N'million 2015 FY 2016 FY Branding & Advert 5,845 9,579 VAR 3,734 % VAR 63.9% Depreciation 3,985 4,308 323 8.1% Energy Cost (Electricity & Diesel) 1,015 1,252 237 23.3% Consultancy expenses 407 577 170 41.8% Regulatory Cost 9,267 9,379 112 1.2% Staff Cost 27,125 27,231 106 0.4% Repairs & maintenance 2,457 2,563 106 4.3% Travelling & accommodation 531 621 90 16.9% Telephone expenses 251 307 56 22.3% Security expenses 1,295 1,345 50 3.9% Stationery expenses 218 256 38 17.4% Insurance expenses 319 348 29 9.1% Cash movement expenses 591 601 10 1.7% Auditors' remuneration 150 150 0.0% Office expenses 395 382 (13) -3.3% Postage & courier expenses 111 97 (14) -12.6% Rent and rates 315 285 (30) -9.5% Computer expenses 1,627 1,565 (62) -3.8% Directors' emoluments 346 249 (97) -28.0% Contractor compensation 3,533 3,428 (105) -3.0% Bank charges 434 308 (126) -29.0% Legal expenses 432 253 (179) -41.4% Corporate finance expenses 606 402 (204) -33.7% Training expenses 650 407 (243) -37.4% Litigations and claims 545 (545) -100.0% Other expenses 1,714 1,308 (406) -23.7% 64,164 67,201 3,037 4.7% www.fidelitybank.ng 23

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