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STANBIC IBTC HOLDINGS PLCFULL YEAR 2020 FINANCIAL RESULTS PRESENTATION
26 March 2021
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 2 /
TABLE OF CONTENTS
Background and the operating environment Page 3
Financial review – FY 2020 Page 10
Corporate & Investment Banking Page 25
Personal & Business Banking Page 29
Wealth Page 35
Guidance Page 39
Appendix Page 42
1
2
3
4
5
6
7
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BACKGROUND AND THE OPERATING ENVIRONMENT
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STRATEGIC FOCUS
Committed to solutions that drive your progress.Missionthe reason we exist
Visionwhat we aspire to be
To be the leading end-to-end financial solutions provider in Nigeria through innovative and customer focused people.
Transform client experience
Execute with excellence
Drive sustainable growth and value
Our strategic priorities:
What we need to do to deliver our purpose
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MACRO-ECONOMIC AND OPERATING ENVIRONMENT
❖Nigeria exited a pandemic-induced recession in Q42020 posting growth of 0.11%, but still culminating inan overall contraction of 1.9% year-on-year in FY2020.
❖The unprecedented production cut of c.10mbpd bythe members of OPEC+ reduced Nigeria’s oilproduction numbers, averaging 1,586mpd in 2020(2019: 1,786mbpd). Meanwhile, oil prices werevolatile most of the year.
❖The Country’s external reserves were on thedownward trajectory in 2020, closing the year at$35.3 billion.
❖Excessive market liquidity, with few investmentoutlets, ensured yields across the curve declined in2020.
❖Headline inflation was on the upward trajectory in2020, averaging 13.21% (2019: 11.39%), owing toelevated food inflation and uptick in core inflation.
❖The exchange rate witnessed some major pressuredepreciating at the various markets as liquidity acrossFX segments declined significantly during the year.
❖The CBN maintained some sort of balanced approachto monetary policy management in 2020 by easingthrough its loan-to-deposit ratio policy as well as lessissuances of OMO instruments while also tighteningthrough its massive cash reserving methods.
Inflation %
Reserves, Brent crude oil price & crude oil production Interest rates
Exchange rate movement
0.0
0.5
1.0
1.5
2.0
- 10 20 30 40 50 60 70
Reserves (US$ billions)
Brent Crude oil (US$).Month end price
Crude oil production (million bpd) p.e
US$ Million
0%
2%
4%
6%
8%
10%
12%
14%
Average inter-bank call rate OMO Tbills - short term
OMO Tbills - medium term OMO Tbills - long term
Bond - 3 year
11.98 12.13 12.20 12.26 12.34 12.40 12.56 12.8213.22
13.7114.23
14.89
15.75
10
11
12
13
14
15
16
17
250.00
300.00
350.00
400.00
450.00
500.00
550.00
Dec
-18
Jan
-19
Feb
-19
Mar
-19
Ap
r-1
9
May
-19
Jun
-19
Jul-
19
Au
g-1
9
Sep
-19
Oct
-19
No
v-1
9
Dec
-19
Jan
-20
Feb
-20
Mar
-20
Ap
r-2
0
May
-20
Jun
-20
Jul-
20
Au
g-2
0
Sep
-20
Oct
-20
No
v-2
0
Dec
-20
NG
N /
USD
rat
e
CBN Official Parallel market NAFEX I&E FX Window
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COVID-19: DOMESTIC UPDATE
❖ The Coronavirus has infected 162,082 people andcaused 2,031 deaths in Nigeria as of 23 March2021 while 148,530 cases have been discharged.
❖ All Nigerian States have reported COVID-19cases. Lagos State recorded the most COVID-19positive cases in Nigeria, accounting for 36% ofthe total confirmed cases.
❖ The Country commenced its COVID-19vaccination early March 2021 and continues toimplement physical preventive measures to curbthe spread of COVID-19.
Map shows the total confirmed cases by States as of 23 March 2021Active cases, 7%
Discharged cases, 92%
Deaths, 1%
FCT
19,591
Lagos
57,370
Cross River
293Akwa Ibom
1,051
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People & Systems Customers Liquidity/Capital
❖ Proactively activated remote working formost of our workforce.
❖ Empowered workforce with moderncollaboration tools to work from theirrespective residences.
❖ Implemented additional security measuresand safety protocols for the protection ofthe staff members on essential duty.
❖ Continued engagement of staff membersthrough online sessions to help managemental health and wellbeing.
❖ Reviewed third-party dependencies andconfirmed their readiness to continue toprovide services to our organisationremotely.
❖ Implemented safety protocols across all ofour service locations.
❖ Intensified communication andengagement with clients to identify thosewho expect or are in financial distress.
❖ Shared insights on the impact of thepandemic on micro and macro-economicindices via tailored webinars andInstagram Live sessions delivered bysubject matter experts, to enable clientdecision making.
❖ Reviewed our capital plan with revisedestimates and forecasts in relation toprojected earnings, loan growth andimpairment losses from the pandemic.
❖ Conducted stress tests to measure theimpact of the pandemic as well as foreigncurrency volatility on the Group.
❖ Our results showed that our capital andliquidity positions remained and are stillwell above regulatory limits.
❖ Increased focus on optimizing capitalthrough specific monitoring of capitaldemands from loan portfolio.
❖ Retained the Fitch AAA rating of StanbicIBTC and its banking subsidiary, whichreflects the strongest capacity for timelypayment of financial commitments.
COVID-19 UPDATEOUR RESPONSE MEASURES TO ENSURE BUSINESS CONTINUITY
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Loan Restructure
Trade Tenor Extension
Fee WaiverIntervention
Facilities
❖ Granted loanmoratorium andextension to customersranging from schools tosmall scale businessesand few corporates.
❖ Total value of loansrestructured as a resultof COVID-19 amountedto ₦50.97 billion in FY2020.
❖ Extension of therepayment period oftrade obligations dueto FX constraints andincreased receivablesperiod.
❖ Affected tradeobligations amountedto ₦1.2 billion for FY2020.
❖ Implemented a waiverof certain paymentcharges on our digitalplatforms in April2020.
❖ Total transactioncharges refundedamounted to ₦17.7million for 908,793transactions.
❖ Extended moratoriumand reduced interestrate by 400 basis pointon the on-lending fundsin line with the CBNdirective.
❖ Total value of theintervention facilitieswas ₦26 billion as at FY2020 with net interestincome impact of ₦940million.
COVID-19 UPDATECLIENT FOCUS: ACTIONS TAKEN
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COMMUNITY SUPPORT
COVID-19 UPDATE
Donations
❖ Donated ₦25 million to FATE Foundation for therenovation and donation of PPEs andconsummables at The National OrthopedicHospital Igbobi (NOHI) amongst others.
❖ Donated ₦250 million to the CACOVID Relief Fundset up by the CBN to combat the COVID-19pandemic.
❖ Donated ₦2.5 million to the Edo State COVID-19Relief Fund
❖ Donated test kits worth ₦50.5 million to the LagosState Government and other States, includingGovernment Agencies (Rivers, Cross Rivers, Kogi ,Ebonyi, Ondo, Kaduna, Abuja, Borno , NIMR andNCDC)
Partnerships
❖ Partnership with Inoyo Toro Foundation toprovide a testing machine to the Akwa Ibom StateGovernment
❖ Partnership with Givefood.ng to provide food for5,250 people belonging to families in desperateneed of food
❖ Partnership with OAK Rural Health Organizationon a project tagged “Stop COVID-19 spread”project involving the distribution of face masks inOjoo Market in Akinyele Local Government Area,Ibadan in Oyo state to reduce the spread of theCOVID-19. The market community was alsoenlightened and equipped with adequateknowledge of COVID-19
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FINANCIAL REVIEW FY 2020
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PROFITABILITY - RESILIENT EARNINGS HINGED ON OUR DIVERSIFIED BUSINESS MODEL
SUMMARY OF FY 2020 PERFORMANCE – INCOME STATEMENT
Gross Earnings
FY 2020: ₦234.4bn
FY 2019: ₦233.8bn
Earnings Per Share
FY 2020: 729kobo
FY 2019: 692kobo
Return on Equity
FY 2020: ₦83.2bn
FY 2019: ₦75.0bn
Cost to Income
Profit After Tax
FY 2020: 24.3%
FY 2019: 27.3%
Credit Loss Ratio
FY 2020: 1.6%
FY 2019: 0.2%
FY 2020: 47.4%
FY 2019: 50.4%
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FINANCIAL POSITION – GROWTH IN EARNING ASSETS + INCREASED LOW-COST FUNDING
SUMMARY OF FY 2020 PERFORMANCE – FINANCIAL POSITION ITEMS
Total Assets
FY 2020: ₦2.49trn
FY 2019: ₦1.88trn
Customer Deposits
FY 2020: ₦819.9bn
FY 2019: ₦637.8bn
Net Customer Loans
FY 2020: ₦625.1bn
FY 2019: ₦532.1bn
Gross NPL RatioReturn on Asset
FY 2020: 3.8%
FY 2019: 4.2%
CASA Ratio
FY 2020: 82.8%
FY 2019: 71.1%
FY 2020: 4.0%
FY 2019: 3.9%
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EVOLUTION OF HEADLINE EARNINGS
OVERVIEW OF INCOME STATEMENT FOR FY 2020 VS FY 2019
FY 2020
105,776
(31,561) 124,709
(9,935)
(94,272)
94,717
(11,506)
83,211
Interest income Interest expense Non-interestrevenue
Credit impairmentcharges
Operating expenses Profit beforetaxation
Taxes Profit after taxation
₦’ million
FY 2019
120,412
(42,581)
108,755
(1,632)
(94,029)
90,925
(15,890)
75,035
Interest income Interest expense Non-interest revenue Credit impairmentcharges
Operating expenses Profit before taxation Taxes Profit after taxation
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CONTINUED PRESSURE ON MARGINS RESULTING FROM THE LOW INTEREST RATE ENVIRONMENT
NET INTEREST INCOME
❖ Interest income declined by 12% to ₦105.8billion in FY 2020 from ₦120.4 billionachieved in FY 2019 due to depressedasset yields despite the comparativegrowth recorded in loans year-on-year.
❖ Interest expense also declined by 26%following deposit repricing andimprovement in deposit mix towardscheap funds as we continued to focus onreplacing expensive term deposits withlow-cost deposits, aiding the decline ofcost of funds to 2.9% from 3.9% in theprior period.
❖ Net interest income declined by 5% as thedecreased interest expense partly dousedthe impact of the contraction in interestincome. Consequently, net interestmargin* declined to 3.5% (FY 2019: 4.5%).
%
57.9 83.6 78.2 77.8 74.2
5.9%6.9%
5.2%
4.5% 3.5%
3.9%4.8%
5.4%4.4%
3.0%
0%
2%
4%
6%
8%
0
50
100
2016 2017 2018 2019 2020
Net interest income Net interest margin before impairment charges
Net interest margin after impairment charges
₦’billion
13.7
17.7
13.7 11.6
9.7
4.1 4.7 4.0 3.9 2.9
5.9 6.9
5.2 4.5 3.5
2016 2017 2018 2019 2020Asset yield Cost of funds Net interest margin
*Net interest margin = Total assets excluding derivative assets
Net interest income
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STRONG GROWTH IN TRADING INCOME PARTIALLY OFFSET BY PRESSURE ON FEE INCOME
NON-INTEREST REVENUE
❖ Non-interest revenuegrew by 15% drivenlargely by a 43%year-on-yearincrease in tradingincome.
Break down of fees and commission income
Break down of non-interest income by type₦ 'billion
₦ 'billion
3.8 2.6 7.2
47.0
2.5 2.7 5.4 2.1 1.8 4.2 3.8
7.3
42.4
3.8 3.4 6.5
2.1 1.5
Account transactionfees
Card basedcommission
Brokerage andfinancial advisory
fees
Asset managementfees
Custody transactionfees
Electronic banking Foreign currencyservice fees
Documentation andadministration fees
Other
2020 2019
68.2 89.2 102.6 108.8 124.7
68% 71%
59%58% 63%
0%
20%
40%
60%
80%
100%
0
20
40
60
80
100
120
140
2016 2017 2018 2019 2020
Non-interest revenue % of total income
2016 2017 2018 2019 2020
1% 1% 1% 1% 1%
23%33% 31% 31%
42%
76%66% 68% 68%
57%
Other revenue Trading revenue Net fees and commisions income
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ACCELERATED PROVISIONING ON DELINQUENT FACILITIES DRIVEN BY DETERIORATION IN MACRO-ECONOMIC CONDITIONS
INCOME STATEMENT - CREDIT IMPAIRMENT
CLR 0.2% 1.6%
₦ ‘million₦ ‘million
❖Credit impairment onfinancial assets was acharge of ₦9.9bncompared to ₦1.6bn inFY 2019. The outcomeis in line with ourdisciplined approachto treating delinquentassets.
❖Credit loss ratio was1.6% for FY 2020.
FY 2020
FY 2019₦ ‘million
1,632 9,935
FY 2019 FY 2020
>100%
1,121
(3,672)
7,370(3,187)
1,632
-4 000
-2 000
0
2 000
4 000
6 000
8 000
Stage 1 Stage 2 Stage 3 Recoveries FY 2019
1,597 (1,965)
14,529
(4,594)
9,935
-6 000
-3 000
0
3 000
6 000
9 000
12 000
15 000
Stage 1 Stage 2 Stage 3 Recoveries FY 2020
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PRUDENT COST MANAGEMENT AND POSITIVE JAWS
OPERATING EXPENSES AND TAXATION
❖Operating expenses growth was muted year-on-year.
❖Staff cost was up by 4% year-on-year due toinflationary adjustment on salary.
❖Other operating expenses declined by 2% due tosavings in training, travels, entertainment,deposit insurance premium and motor vehiclemaintenance expenses.
❖Cost-to-income ratio improved to 47.4% from50.4% recorded in prior year.
❖ Effective tax rate decreased to 12.1% in FY 2020 from 17.5% in the prior year due to change in tax basis.
69,041 86,026 95,601 94,029 94,272
54.8%49.8% 52.9% 50.4% 47.4%
0%
20%
40%
60%
80%
100%
-
20,000
40,000
60,000
80,000
100,000
120,000
2016 2017 2018 2019 2020Operating expenses (N'm) Cost-to-income ratio
₦’million
8,689 12,785 13,712 15,890 11,506
23.4%
20.9%
15.6%17.5%
12.1%
0%
5%
10%
15%
20%
25%
-
5,000
10,000
15,000
20,000
2016 2017 2018 2019 2020Taxation Effective tax rate
₦’million
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STRONG AND DIVERSE BALANCE SHEET
TOTAL ASSETS
₦ 'billion
₦ ‘million
2,486,306
634,939215,888 170,578
612,276
625,139 189,14338,343
Total Assets Cash & loans to bank Trading andderivative assets
Pledged assets Financialinvestments
Loans & advances tocustomers
Other assets Intangible assets,property &equipment
30% 30% 28% 25% 26%
4% 4% 11% 14% 9%
2% 11% 5%13%
7%
24%23% 24% 8% 25%
33%27% 26%
28%25%
5% 4% 5% 10% 8%2% 1% 1% 2% 1%
2016 2017 2018 2019 2020
Cash & loans to banks Pledged & derivative assetsTrading assets Financial investmentsLoans & advances to customers Other assetsIntangible assets, property & equipment
1,054 1,386 1,664 1,876 2,486
2.5%
3.8%
4.8%
4.2%3.8%
0%
1%
2%
3%
4%
5%
6%
0
500
1,000
1,500
2,000
2,500
3,000
2016 2017 2018 2019 2020
Total Asset Return on assets
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GROWTH IN BOTH CORPORATE AND RETAIL LENDING
GROSS LOANS AND ADVANCES
FY 2020LCY loans FCY loans Total loans ₦ ‘billion ₦ ‘billion ₦ ‘billion
Personal & Business Banking 188.4 52.6 241.0 Mortgage 4.2 - 4.2 Instalment sale & finance leases 9.5 0.4 9.9 Overdrafts 27.9 3.1 31.0 Term loans 146.8 49.1 195.9 Corporate & Investment Banking 149.6 264.7 414.3 Term loans 130.2 264.7 394.9 Overdrafts 18.2 0.0 18.2 Instalment sale and finance lease 1.2 - 1.2 Total loans 338.0 317.3 655.3 Percentage (%) 52% 48% 100%
FY 2019LCY loans FCY loans Total loans ₦ ‘billion ₦ ‘billion ₦ ‘billion
162.5 36.3 198.8 4.5 - 4.5 7.4 0.7 8.1
26.9 3.1 30.0 123.8 32.5 156.3 145.0 212.7 357.6 121.6 212.6 334.2
22.6 - 22.6 0.8 - 0.8
307.5 248.9 556.4 55% 45% 100%
❖PBB and CIB loan book grew by 21%and 16% respectively.
❖LCY book grew by 9.9% and FCY bookgrew by 27.5%.
❖ Gross loans portfolio grew by 18%year-on-year as we continue tosupport our clients’ businesses andaspirations.
❖ Loan-to-Deposit Ratio for FY 2020averaged 68.6%.
Gross loans and advances ₦ ’million
375.3 403.9 458.9
556.4 655.3
0
200
400
600
800
2016 2017 2018 2019 2020
₦’ billion
655,292 556,383
(251) 2,232 (3,334)100,263
Gross loans andadvances - FY 2019
Mortgage lending Instalment salesand finance leases
Overdrafts Term loans Gross loans andadvances - FY 2020
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LOAN GROWTH WITH FOCUS ON RESILIENT NON-CYCLICAL SECTORS
LOANS AND ADVANCES BY SECTOR
FY 2020 FY 2019
Agriculture5% Construction and real
estate9%
Consumer loans9% Electricity, Gas &
Water Supply 0.23%
Financial intermedi
aries & insurance
5%
General commerce10%
Government6%
Manufacturing26%
Oil & gas services
4%
Downstream oil & gas11%
Upstream oil & gas11%
Transportation & communication
4%Agriculture
6%Construction and
real estate8%
Consumer loans10% Financial
intermediaries & insurance
1%
General commerce
8%
Government6%
Manufacturing28%
Oil & gas services
5%
Downstream oil & gas10%
Upstream oil & gas14%
Transportation & communication
4%
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INCREASE IN NON-PERFORMING LOANS REFLECTING THE CHALLENGING ECONOMIC ENVIRONMENT
LOAN PERFORMANCE
FY 2020 FY 2019
Sector% of Total
NPL NPL ratio
(%)% of Total
NPL NPL ratio (%)
Agriculture 20.4% 15.4% 41.0% 28.2%
Construction and real estate 33.5% 15.4% 15.9% 7.7%
Consumer credit 9.1% 4.1% 17.8% 6.8%
General commerce 4.1% 1.6% 5.6% 2.8%Government 0.0% 0.0% 0.4% 0.3%
Manufacturing 2.3% 0.4% 0.3% 0.05%
Oil & gas services 3.5% 3.4% 3.9% 3.0%
Oil & gas Downstream 22.0% 8.1% 0.02% 0.01%
Transportation & Communication
5.1% 4.9% 15.1% 13.0%
Grand Total 100% 4.0% 100.0% 3.9%
FY 2020 (₦ ‘million)
% of total NPLs
FY 2019(₦ ‘million)
% of total NPLs
Local currency 19,579 74% 15,343 71%
Foreign currency 6,914 26% 6,251 29%
Total NPLs 26,492 100% 21,594 100%
21.9 35.3 17.7 21.6 26.5
5.8%
8.6%
3.9% 3.9%4.0%
0%
2%
4%
6%
8%
10%
0
10
20
30
40
2016 2017 2018 2019 2020Gross non-performing loans NPL/ total loans
₦’ billion
SectorCovid-19 Related
(N ’million)
Non Covid-19 Related
(N ’million)Total
(N’ million)Restructured to Total Loan
Agriculture - 41 41 0.1%
Construction & Real Estate 24,463 339 24,802 43.0%
Consumer Loans 7,859 951 8,809 14.9%
General Commerce 1,918 363 2,281 3.4%
Government 8,566 - 8,566 24.1%
Manufacturing 5,150 2,156 7,306 4.3%
Oil & Gas Service 1,382 6,007 7,389 26.9%
Oil & Gas Downstream 1,428 471 1,899 2.6%
Transport & Communication 207 1,358 1,565 5.7%
Grand Total 50,972 11,685 62,658 9.6%
Non-Performing Loans Restructured Loans for FY 2020
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SECTORIAL STAGES OF THE GROSS LOAN BOOK AND PROVISION COVERAGE RATIO
GROSS LOAN STAGES
Sectors
Performing Loans Non-Performing Loans
Stage 1 Stage 2 Stage 3 Gross LoanN’ million
Provision coverage
Gross LoanN’ million
Provision coverage
Gross LoanN’ million
Provision coverage
Agriculture 27,817 1.45% 1,761 6.74% 5,399 73.22%
Construction & Real Estate 48,478 1.36% 339 18.48% 8,885 79.04%
Consumer Credit 53,796 1.09% 2,818 8.43% 2,399 71.59%
Electricity, Gas & Water Supply 1,477 4.41% - - - -
Financial Intermediaries & Insurance 32,130 0.80% - - - -
General Commerce 63,921 1.50% 2,976 9.05% 1,096 93.50%
Government 35,593 1.10% - - - -
Manufacturing 163,784 0.74% 6,088 9.36% 610 74.00%
Oil & Gas Service 26,365 2.19% 208 14.38% 928 82.36%
Oil & Gas Downstream 64,579 0.91% 1,437 11.70% 5,832 99.26%
Oil & Gas Upstream 69,348 1.19% 0.39 9.73% - -
Transport & Communications 25,525 0.63% 359 - 1,345 92.35%
Grand Total 612,812 1.09% 15,987 9.44% 26,492 82.90%
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ACCELERATED GROWTH IN LOW-COST DEPOSITS
CUSTOMER DEPOSITS
FY 2019LCY FCY Total
₦ ’billion ₦ ‘billion ₦ ‘billion 302.4 167.5 470.0 163.3 143.4 306.8
87.4 - 87.4 4.6 2.3 6.9
47.1 21.8 68.9
96.5 71.4 167.9 41.4 17.9 59.3 21.4 2.2 23.6 33.7 51.3 85.0
398.9 238.9 637.8 63% 37% 100%
❖ Expensive term depositswere not rolled over.
❖ CASA ratio improved from71.1% in FY 2019 to 82.8%in FY 2020.
FY 2020LCY FCY Total
₦ ’billion ₦ ’billion ₦ ’billion Personal & Business Banking 408.5 161.5 570.1
Current Accounts 217.3 136.5 353.8
Savings Accounts 150.6 - 150.6
Call Deposits 16.9 0.8 17.6
Term Deposits 23.8 24.2 48.0 Corporate & Investment Banking 167.7 82.2 249.9
Current accounts 105.5 69.0 174.5
Call deposits 23.5 1.7 25.1
Term deposits 38.7 11.6 50.3
Total deposits 576.2 243.7 819.9 70% 30% 100%
₦ ’million
561.0 753.6 807.7 637.8 819.9
57.0%49.2%
56.8%
71.1%
82.8%
0%10%20%30%40%50%60%70%80%90%
0
100
200
300
400
500
600
700
800
2016 2017 2018 2019 2020
Customer deposits CASA mix
₦ ’billion
819,944 637,840
162,227
12,343 63,217 (55,683)
Customerdeposits FY
2019
Currentaccounts
Call deposits Savingsaccounts
Term deposits Customerdeposits FY
2020
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STRONG CAPITAL BUFFERS
CAPITAL AND SHAREHOLDERS’ FUND
₦ ’billion
18.6% 19.6%21.3% 21.9%
23.1%22.8% 23.5%24.7% 24.6% 24.7%
2016 2017 2018 2019 2020
Tier 1 capital adequacy Total capital adequacy Statutory minimum
1,371 1,812 2,893 2,821 3,341
1.1
2.3 2.1
1.5 1.3
0.0
0.5
1.0
1.5
2.0
2.5
0
400
800
1,200
1,600
2,000
2,400
2,800
3,200
3,600
2016 2017 2018 2019 2020
Net asset value per share Price- to-book
Kobo Times
130.4 159.6 208.7
265.9 333.7
18.9%
28.9%
34.5%
27.3%24.3%
0%
5%
10%
15%
20%
25%
30%
35%
40%
0
50
100
150
200
250
300
350
400
2016 2017 2018 2019 2020
Shareholders' fund (average) Return on average equity
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 25 /
CORPORATE & INVESTMENT BANKING (CIB)
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 26 /
KEY METRICS
SUMMARY OF FY 2020 PERFORMANCE (CIB)
Credit Loss Ratio
Profit After TaxGross Loans &
Advances
Customer Deposits
Total Income
Return on EquityCost to Income NPL Ratio
FY 2020: ₦68.4bn
FY 2019: ₦49.8bnFY 2020: ₦414.3bn
FY 2019: ₦357.6bn
FY 2020: 50.6%
FY 2019: 36.6%
FY 2020: 3.5%
FY 2019: 0.8%
FY 2020: ₦249.9bn
FY 2019: ₦167.9bn
FY 2020: 1.8%
FY 2019: (0.2%)
FY 2020: ₦108.3bn
FY 2019: ₦83.8bn
FY 2020: 30.4%
FY 2019: 34.2%
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 27 /
ASSET GROWTH AND IMPROVEMENT IN EARNINGS
CIB FINANCIAL ANALYSIS – FY 2020
Performance highlights
FY 2020 Change FY 2019
Income statement ₦’million % ₦’million
Net interest income 43,593 24 35,247
Non-interest revenue 64,670 33 48,509
Total income 108,263 29 83,756
Credit impairment charges (6,967) >(100) 535
Operating expenses (32,892) 15 (28,661)
Profit before tax 68,404 23 55,630
Profit after tax 68,407 37 49,756
Balance sheet FY 2020 FY 2019
Gross loans & advances 414,284 16 357,608
Deposit liabilities 249,884 49 167,883
Key selected ratios FY 2020 FY 2019
Cost to income ratio % 30.4 34.2
CASA ratio % 70 35
Credit loss ratio % 1.8 (0.2)
NPL/total loan ratio % 3.5 0.8
❖ A good performance from our Global Markets business in2020 as we were well positioned to take advantage ofmovements in the yield curve, despite the challengingoperating environment.
❖ Proper mix in our liability book helped reduce our interestexpense by 18% year-on-year coupled with 4% growth ininterest income, resulting in 24% growth in NII.
❖ Credit impairment grew by over 100% as a result of provisionmade for impaired loans largely from oil & gas andconstruction sectors as well as non-impaired loans inanticipation of depressed economic environment.
❖ Cost-to-income ratio improved to 30.4% as a result ofimproved revenue growth.
❖ Loan book growth was driven by opportunities to support ourclients’ aspirations.
❖ Deposit book grew with focus on low-cost deposits.
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 28 /
Grow the client franchise1
Drive trade growth2
Optimize the right funding mix3
Grow a resilient LCY loan book4
CIB –2021 FOCUS
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 29 /
PERSONAL & BUSINESS BANKING (PBB)
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 30 /
KEY METRICS
SUMMARY OF FY 2020 PERFORMANCE (PBB)
Credit Loss Ratio
Profit After TaxGross Loans &
Advances
Customer Deposits
Total Income
FY 2020: (₦9.6bn)
FY 2019: ₦2.3bn
FY 2020: ₦241.0bn
FY 2019: ₦198.8bn
FY 2020: ₦570bn
FY 2019: ₦470bn
FY 2020: ₦38.6bn
FY 2019: ₦52.3bn
Return on Equity
FY 2020: (7.7%)
FY 2019: 3.0%
Cost to Income
FY 2020: 5.0%
FY 2019: 9.5%
FY 2020: 1.3%
FY 2019: 1.2%
NPL Ratio
FY 2020: 116.6%
FY 2019: 91.1%
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 31 /
ASSET GROWTH BUT CONTRACTION IN EARNINGS DUE TO REGULATORY FEE CUT AND PRESSURE ON YIELDS
PBB FINANCIAL ANALYSIS – FY 2020
Performance highlights
FY 2020 Change FY 2019Income statement ₦ ’million % ₦ ’million
Net interest income 26,883 (25) 36,071
Non-interest revenue 11,712 (28) 16,254
Total income 38,595 (26) 52,325
Credit impairment charges (2,927) 34 (2,191)
Operating expenses (45,016) (6) (47,669)
Profit before tax (9,348) >(100) 2,465
Profit after tax (9,621) >(100) 2,268
Balance sheet FY 2020 FY 2019
Gross loans & advances 241,008 21 198,775
Deposit liabilities 570,060 21 469,957
Key selected ratios FY 2020 FY 2019Cost to income ratio % 116.6 91.1
CASA ratio % 88.5 83.9Credit loss ratio % 1.3 1.2 NPL/total loan ratio % 5.0 9.5
❖Net interest income decreased by 25% to ₦26.9 billion followingthe decline in interest income.
❖ Interest income was down by 31% to ₦33.0 billion (FY 2019: ₦47.8billion) as a result of lower yields on loans and advances.
❖The business however, benefited from the decline in interestexpenses following accelerated growth in cheap deposits whichhelped reduce cost of funds. Interest expense declined by 47% to₦6.2 billion from ₦11.7 billion in FY 2019.
❖ Credit impairment charges grew by 34% as provisions were madefor impaired loans largely from agriculture sector as well as nonimpaired loans in anticipation of depressed economicenvironment.
❖ Operating expenses were down 6% year-on-year as a result of12% decline in other operating expenses which was doused by 1%growth in staff cost.
❖We continue to support our clients’ business by availing themcredit facilities resulting in 21% growth in gross loans andadvances.
❖Deposit book grew by 21% with focus on low-cost deposits whichsaw CASA ratio improve to 88.5%.
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 32 /
DIGITIZATION
1,614,091
1,494,384
421,180 465,923
836,062
Q4-19 Q1-20 Q2-20 Q3-20 Q4-20
Branch Transaction Trend Q-o-Q
46,580,874 46,693,274 39,106,254 48,457,779 49,723,575
Q4-19 Q1-20 Q2-20 Q3-20 Q4-20
Digital Transaction Trend Q-o-Q
85,318,183
116,083,525
155,704,729
183,989,344
FY 2017 FY 2018 FY 2019 FY 2020
Digital Transaction Trend Y-o-Y
18%
❖ Digital transactions grewby 18% YoY.
❖ Branch transactionsmoderated during theyear, reflecting theincreasing preference foralternative serviceplatforms.
GROWTH IN DIGITAL TRANSACTIONS
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 33 /
11,723,451
17,833,709
29,557,160
22,119,905
31,956,231
54,076,136
H1 2019
H2 2019
FY 2019
H1 2020
H2 2020
FY 2020
USSD Banking
10,108,929
13,261,685
23,370,614
13,542,836
17,728,821
31,271,657
H1 2019
H2 2019
FY 2019
H1 2020
H2 2020
FY 2020
Mobile Banking
7,122,408
8,232,018
15,354,426
6,699,733
7,453,613
14,153,346
H1 2019
H2 2019
FY 2019
H1 2020
H2 2020
FY 2020
POS
265,575
346,790
612,365
619,472
842,761
1,462,233
H1 2019
H2 2019
FY 2019
H1 2020
H2 2020
FY 2020
SME Internet Banking
25,557,552
29,344,677
54,902,229
24,502,054
26,064,086
50,566,140
H1 2019
H2 2019
FY 2019
H1 2020
H2 2020
FY 2020
ATM
76,461
77,116
153,577
44,255
16,846
61,101
H1 2019
H2 2019
FY 2019
H1 2020
H2 2020
FY 2020
BNA
83% 34% 8%
>100% 8% 60%
DIGITIZATIONTRANSACTION VOLUMES ACROSS THE DIGITAL CHANNELS
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 34 /
OUR PRIORITIES IN 2021
PBB 2021 FOCUS
Improve operational efficiency through effective channel management and implementation of cost saving initiatives.
Accelerate customer growth through new-to-bank acquisition.
1
Grow NIR via clients’ transactional velocity growth in all business segments.
2
Grow the balance sheet in a sustainable manner by focusing on resilient sectors within our risk appetite.
3 4
Transactional Velocity Growth
Cost Management
Growing Scale
Risk Asset Growth
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 35 /
WEALTH
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 36 /
KEY METRICS
SUMMARY OF FY 2020 PERFORMANCE (WEALTH)
Total Income
FY 2020: ₦52.1bn
FY 2019: ₦50.5bn
Profit After Tax
FY 2020: ₦24.4bn
FY 2019: ₦23.0bn
Return on Equity
FY 2020: 33.4%
FY 2019: 42.2%
Cost to Income
FY 2020: 31.4%
FY 2019: 35.0%
Asset under Mgt.
FY 2020: ₦4.6trn
FY 2019: ₦3.9trn
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 37 /
GROWTH IN EARNINGS SUPPORTED BY AUM GROWTH AMID REGULATORY FEE CUT
WEALTH FINANCIAL ANALYSIS – FY 2020
Performance highlightsFY 2020 Change FY 2019
Income statement ₦’million % ₦’million
Net interest income 3,739 (43) 6,513
Non-interest revenue 48,327 10 43,992
Total income 52,066 3 50,505
Gain / (loss) on financial assets (41) (>100) 24
Operating expenses (16,364) (8) (17,699)
Profit before tax 35,661 9 32,830
Profit after tax 24,425 6 23,011
FY 2020 FY 2019Asset under Management (₦ ’million) 4,630,883 20 3,856,720
Key selected ratios FY 2020 FY 2019Cost to income ratio % 31.4 35.0
❖ Wealth business reported a total income of ₦52.1billion in FY 2020, an increase of 3% compared toFY 2019.
❖ Non-interest revenue (NIR), resulting from fundmanagement fees and other income, increased by10% to ₦48.3 billion (FY 2019: ₦44.0 billion). NIRgrowth is on account of growth in assets undermanagement driven by investment returns andcontinued savings by our clients albeit muted bythe impact of the multi-year RSA management feereduction regime.
❖ Asset under Management grew by 20% year-on-year
❖ Operating expenses declined by 8%, driven by 19%decline in other operating expenses and muted by9% growth in staff cost. Consequently, Cost-to-income ratio improved to 31.4% from 35.0% in theprior year.
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OUR PRIORITIES IN 2021
WEALTH –2021 FOCUS
Collaborate with regulators and other stakeholders to develop initiatives that will entrench best practice, support industry growth and improve customer experience.
Focus on employee engagement to ensure improved employee value proposition and increased productivity.
Leverage customer insights and emerging technology to deliver refined value propositions, experiences and new products for our clients.
Deepen the level of digitization especially across clients onboarding, payments, use of robotics and artificial intelligence with the overall intent of improving transactional and processing efficiencies across our businesses.
Lorem IpsumEmployee Engagement
Lorem Ipsum Digitization
21 3 4
CollaborationCustomer Experience
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 39 /
GUIDANCE
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 40 /
CONSIDERABLE ACHIEVEMENT OF THE 2020 GUIDANCE + OUR EXPECTATIONS FOR 2021
2020 GUIDANCE VS 2020 ACTUAL AND 2021 OUTLOOK
2020 Guidance 2020 Actual
*Net interest margin = Total assets excluding derivative assets
Net interest income
10% - 15%
2021 Guidance
Return on equity 24.3%25% - 30%
AUM Growth +20%15% - 20%
Cost to income 47.4%50% - 55%
Net interest margin* 3.5%3% - 4%
Cost of risk 1.6%≤3%
CASA ratio 82.8%>75%
NPL ratio 4.0%<5%
Deposit growth +29%15% - 20%
Gross Loan growth +18%10% - 15%
20% - 25%
<55%
3% - 4%
≤3%
>75%
<5%
15% - 20%
20% - 25%
>>
>>
>>
>>
>>
>>
>>
>>
>>
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 41 /
QUESTIONS
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 42 /
APPENDIX
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 43 /
Stanbic IBTC Trustees Ltd
Stanbic IBTC Nominees Nigeria Ltd
Stanbic IBTCVentures Ltd
Stanbic IBTCBank PLC
99.9%
Stanbic IBTC Holdings PLC
88.24%99.9%99.9% 99.9% 99.9%
99.9% 99.9%99.9%
Stanbic IBTC Pension Managers Ltd
Stanbic IBTC Insurance Ltd
Stanbic IBTC Asset Management Ltd
Stanbic IBTC Capital Ltd
Stanbic IBTC Stockbrokers Ltd
Stanbic IBTC Insurance Brokers Limited
75%
1989 2001 2005 2007 2012
Incorporated as Investment Banking & Trust Company Limited and commenced operations as a Merchant bank
Obtained Universal Banking Licence in Nigeria
Listed on The NSE on 25 April 2005
Merged with Chartered Bank & Regent Bank and changed name to IBTC Chartered Bank PLC
Merged with Stanbic Nigeria and Standard Bank gained control of the combined entity in a US$1bn transaction
Holding Company Structure was adopted
2020
Standard Bank increased its stake in Stanbic IBTC to 67.02%
ABOUT STANBIC IBTC HOLDINGS PLC
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Group income statementGROUP INCOME STATEMENT
Change%
2020₦’million
2019₦’million
Gross earnings 0 234,446 233,808
Net interest income (5) 74,215 77,831 Interest income (12) 105,776 120,412 Interest expense (26) (31,561) (42,581)
Non-interest revenue 15 124,709 108,755 Net fees and commission revenue 1 71,190 70,393
Fees and commission revenue 0 75,151 75,034 Fees and commission expense (15) (3,961) (4,641)
Trading revenue 43 52,110 36,332 Other revenue (31) 1,409 2,030
Total income 7 198,924 186,586 Net impairment loss on financial assets >100 (9,935) (1,632)Income after credit impairment charges 2 188,989 184,954 Operating expenses 0 (94,272) (94,029)Staff costs 4 (42,143) (40,618)Other operating expenses (2) (52,129) (53,411)Profit before tax 4 94,717 90,925 Direct tax (28) (11,506) (15,890)Profit for the year 11 83,211 75,035
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Group quarterly income statement GROUP QUARTERLY INCOME STATEMENT
Group Group Group Group Q4 2020 Q3 2020 Q2 2020 Q1 2020₦million ₦million ₦million ₦million
Gross earnings 51,160 56,716 65,152 61,418 Net interest income 17,958 18,708 19,032 18,517
Interest income 23,823 26,823 27,671 27,459 Interest expense (5,865) (8,115) (8,639) (8,942)
Non-interest revenue 26,256 28,657 37,157 32,639 Net fee and commission revenue 18,235 17,902 17,145 17,908
Fee and commission revenue 19,316 19,138 17,469 19,228 Fee and commission expense (1,081) (1,236) (324) (1,320)
Trading revenue 7,744 10,106 19,843 14,417 Other revenue 277 649 169 314
Total income 44,214 47,365 56,189 51,156 Net impairment loss on financial assets (2,937) (594) (4,437) (1,967)Income after credit impairment charges 41,277 46,771 51,752 49,189 Operating expenses (23,425) (22,312) (23,759) (24,776)
Staff costs (10,897) (11,339) (9,993) (9,914)Other operating expenses (12,528) (10,973) (13,766) (14,862)
Profit before taxation 17,852 24,459 27,993 24,413 Taxation (804) (3,500) (3,390) (3,812)
Profit for the period 17,048 20,959 24,603 20,601
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 46 /
GROUP STATEMENT OF FINANCIAL POSITION
Change%
2020₦million
2019₦million
Assets
Cash and cash equivalents 37 627,111 456,396
Pledged assets (26) 170,578 231,972
Trading assets (32) 169,655 248,909
Derivative assets 41 46,233 32,871
Financial investments >100 612,276 155,330
Loans and advances 18 632,967 535,170
Loans and advances to banks >100 7,828 3,046
Loans and advances to customers 17 625,139 532,124
Other assets 4 175,980 168,689
Property and equipment 11 30,728 27,778
Intangible assets (11) 4,640 5,232
Right of use assets (8) 2,975 3,217
Deferred tax assets 21 13,163 10,892
Total assets 33 2,486,306 1,876,456
Change%
2020₦million
2019₦million
Equity and liabilitiesEquity 25 378,601 302,229 Equity attributable to ordinary shareholders
25 371,023 296,302
Ordinary share capital 6 5,553 5,252 Ordinary share premium 17 102,780 88,181 Reserves 29 262,690 202,869 Non-controlling interest 28 7,578 5,927
Liabilities 34 2,107,705 1,574,227 Trading liabilities (25) 188,500 250,203 Derivative liabilities >100 37,382 4,343 Current tax liabilities 5 20,270 19,230 Deposit and current accounts 49 1,325,566 886,743 Deposits from banks >100 505,622 248,903 Deposits from customers 29 819,944 637,840 Other borrowings 22 112,031 92,165 Debts securities issued (36) 68,269 106,658 Provisions 6 9,354 8,860 Other liabilities 68 346,333 206,025
Total equity and liabilities 33 2,486,306 1,876,456
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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 47 /
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