Fidelity Bank Plc · NSENG:FIDELITYBK
Fidelity Bank — FY2024 Earnings Presentation
35 slides from Fidelity Bank's earnings presentation, 2025
Slide 1: Fidelity Bank Investor Presentation
Fidelity Bank Investor Presentation Audited Financial Results for the 12 months ended December 31, 2024 Fidelity Bank information meant for public use
Slide 2: Disclaimer
Disclaimer Please read the following before continuing: This presentation is based on Fidelity Bank Plc (‘Fidelity’ or ‘the Bank’) audited financial statements for the period ended 31 December 2024. Aside the extracts from the published financial statements, Fidelity has obtained some information fr
Slide 3: Content
Content Section Page 1. Overview of Fidelity Bank 5 2. Operating Environment 15 3. Financial Review 18 4. 2025 Guidance 34 3 Fidelity Bank information meant for public use
Slide 4: Overview of Fidelity Bank
4 Fidelity Bank information meant for public use
Slide 5: Fidelity Bank at a glance
Overview Operating Environment Financial Review Guidance Business Segment > 251 Business Offices 19.9% Locations: > 9.1m+Customer Accounts Revenue 52.5% Nigeria 27.6% United Kingdom > 3,118Professional Staff 17.3% > 165 Call Centre Agents PBT 54.5% 28.3% > 20k Banking Agents Rt/Comm/PS Corporate Inv
Slide 6: History, Key Milestones and Achievements
Overview Operating Environment Financial Review Guidance History, Key Milestones and Achievements ▪ Became a Universal Bank in ▪ Issued a US$400 million 5- ▪ Raised ₦13.972 billion 2001 year Eurobond in 2017 through Private Placement of shares ▪ Merger with FSB ▪ IT upgrade across banking issuance I
Slide 7: Fidelity Bank has a Strong Focus on ESG Principles
Overview Operating Environment Financial Review Guidance Fidelity Bank has a Strong Focus on ESG Principles ▪ 29% reduction in energy consumption ▪ Over N750m invested in Education, over 3 years Environment, Health & Social Welfare and Youth Empowerment projects in ▪ 28% reduction in carbon footprin
Slide 8: Robust risk management is at the core of Fidelity Bank operations
Overview Operating Environment Financial Review Guidance Robust risk management is at the core of Fidelity Bank operations Three-tiered approach for enterprise-wide risk management Level 1 Board of Directors Board/Executive Mgt. oversight Board Audit Board Risk Board Finance & General Board Corporat
Slide 9: Consistent stellar performance across key income and balance sheet lines
Overview Operating Environment Financial Review Guidance Consistent stellar performance across key income and balance sheet lines Gross Earnings Customer Deposits CAR 87.7% 47.9% 730bps N1,043.4bn N5,937.1bn 23.5% Operating Income Net Loans & Advances NPL 100.0% 41.9% 40bps N773.1bn N4,387.1bn 3.1%
Slide 10: Impressive score card
Overview Operating Environment Financial Review Guidance Impressive score card FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Gross Earnings N206bn N251bn N337bn N556bn N1,043bn (CAGR 50%) PBT (CAGR 93%) N28bn N25bn N54bn N124bn N385bn Savings Account N424bn N477bn N599bn N881bn N1,135bn (CAGR 28%) 10 Fide
Slide 11: Impressive score card: Low-Cost Deposits
Overview Operating Environment Financial Review Guidance Impressive score card FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Low-Cost Deposits N1,308bn N1,508bn N2,159bn N3,910bn N5,499bn (CAGR 43%) Total Deposits N1,699bn N2,025bn N2,581bn N4,015bn N5,937bn (CAGR 37%) Net Loans N1,326bn N1,658bn N2,116bn
Slide 12: Contribution to the Group's performance
Overview Operating Environment Financial Review Guidance Contribution to the Group’s performance Total Assets (N’bn) Profit before Tax (PBT) | NPL Ratio FCY NGN Total N'bn % Share NPL Ratio Group 4,073 4,749 8,822 % Share 46.2% 53.8% Group 385.21 100.0% 3.1% Nigeria 3,796 4,749 8,545 % Share 44.4% 5
Slide 13: Increasing NIR and customer reach through digital banking
Overview Operating Environment Financial Review Guidance Increasing NIR and customer reach through digital banking Mobile/Online Customers # NIP Value (N’bn) E - Banking Transaction (#’Mn) 10.6% YoY > 5.6m+ 45% 43,175 Mkt Share 5% % Total Trnx 454.1 29,838 91% Debit Cardholders # 432.7 3.3% YoY 4% >
Slide 14: Operating Environment
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Slide 15: Nigeria macroeconomic environment: GDP, inflation, oil price
Overview Operating Environment Financial Review Guidance ❖ Nigeria's GDP grew by 3.4% in 2024, an improvement from 2.7% in Real GDP Growth 2023, with the Services Sector driving the expansion. Q4 2024 saw the fastest QoQ growth in 3 years at 3.84%. 3.46% 3.46% 3.84% 2.54% 2.98% 3.19% 2.51% 2.31% ❖ T
Slide 16: Key regulatory and policy changes
Overview Operating Environment Financial Review Guidance Key regulatory and policy changes ❖ The Mpc held is 3rd meeting in 2024 and increased the rate by 150bps to 26.25%. Other policy rates were ❖ The CBN introduced the Electronic Foreign Exchange kept constant. Matching System (EFEMS) to conduct
Slide 17: Financial Review
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Slide 18: Financial Performance Highlights - SCI
Overview Operating Environment Financial Review Guidance Financial Performance Highlights - SCI Summary of Income Statement ➢ Gross Earnings increased by 87.7% to N1.04tn, N’million 2023FY 2024FY % VAR driven by 106.9% growth in interest and similar income to N950.6bn. Gross Earnings 555,830 1,043,4
Slide 19: The combination of improved yield and earnings assets boosted revenue growth
Overview Operating Environment Financial Review Guidance The combination of improved yield and earnings assets boosted revenue growth 78.1% Breakdown of Gross Earnings Interest Income: Breakdown 80.6% N’billion 2023FY 2024FY VAR % VAR 106.9% Int. Inc. on Loans 365.9 628.0 262.1 71.6% 950.6 0.9% Int.
Slide 20: Improved yield and low funding cost led to increased margin
Overview Operating Environment Financial Review Guidance Improved yield and low funding cost led to increased margin. Avg. Yield on Earnings Assets ➢ NIM improved from 8.1% in 2023FY to 12.0% due to a general increase in interest rate in 18.1% 2024, which impacted both the average yield 13.5% and th
Slide 21: Achieved CIR of 42.9% despite rising operating expenses and high inflation
Overview Operating Environment Financial Review Guidance Achieved CIR of 42.9% despite rising operating expenses and high inflation. Breakdown of OPEX Key drivers of OPEX: % Contributions CIR N’billion 2023FY 2024FY % Growth Regulatory Charges 34.2 51.7 51.2% Staff Cost 52.6 73.4 39.6% 17.8% 22.2% 5
Slide 22: Financial Performance Highlights - SFP
Overview Operating Environment Financial Review Guidance Financial Performance Highlights - SFP Statement of Financial Position ➢ Growth in total assets is skewed towards N’million 2023FY 2024FY VAR % VAR earning assets, which grew by 51.6% compared to 20.9% increase in non- Total Assets 6,234,688 8
Slide 23: Building a resilient balance sheet with a well-structured funding base
Overview Operating Environment Financial Review Guidance Building a resilient balance sheet with a well-structured funding base N’million 2023FY 2024FY VAR % VAR ➢ The total funding base was boosted by 47.9% growth in Demand Deposits 3,028,939 4,364,323 1,335,385 44.1% total customer deposits and 10
Slide 24: Consistent increase in stable customer deposits
Overview Operating Environment Financial Review Guidance Consistent increase in stable customer deposits Customer Deposits (N’bn) Customer Deposits by Type 34.3% 42.6% 48.1% 51.3% 48.6% 2024FY 7.4% 6,083.0 5,937.1 19.1% 2.6% 5,379.8 21.9% 4,706.2 4,014.8 3,122.7 2,885.1 2023FY 2,004.9 2,588.4 1,376.
Slide 25: Net Loans and advances
Overview Operating Environment Financial Review Guidance Net Loans and advances Net Loans & Advance (N’bn) ➢ Net loans & advances increased by 41.9% to N4.4tn, 4,254.8 4,387.1 with 52.9% of the loan book within the 12 months or 3,748.2 3,752.1 3,092.4 1,038.3 969.0 less maturity portfolio compared t
Slide 26: Improved asset quality and cash flow led to a decline impairment charge
Overview Operating Environment Financial Review Guidance Improved asset quality and cash flow led to a decline impairment charge 2024FY Impairment Charge Impairment Charge N’billion ( 37.9 ) ( 56.4 ) 2024 56.4 ( 21.5 ) -16.3% 5.4 2023 67.4 Stage 1 Stage 2 Stage 3 Total 2023FY Impairment Charge Total
Slide 27: Diversified loan book with focus on asset quality
Overview Operating Environment Financial Review Guidance Diversified loan book with focus on asset quality Gross Loans by Sector N’million 2023FY Q1 2024 H1 2024 9M 2024 2024FY VAR % VAR Communication 66,576 58,684 70,893 71,034 62,341 (8,693) -12.2% Oil and Gas 1,152,616 1,459,325 1,583,068 1,850,4
Slide 28: Sectoral contributions remain below internal guidance and portfolio limit of 20.0%
Overview Operating Environment Financial Review Guidance Sectoral contributions remain below internal guidance and portfolio limit of 20.0% % Contribution: 2024FY Gross Loans by Sector N’million 2023FY 2024FY VAR % VAR Government; 4.9% Oil & Gas: Service; 10.6% Consumer; 1.9% Communication 66,576 62
Slide 29: Adequate coverage across stages with NPL coverage at 138.4%
Overview Operating Environment Financial Review Guidance Adequate coverage across stages with NPL coverage at 138.4% Gross Loan Book by Stage N’million Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Communication 41,787 3,196 17,358 62,341 67.0% 5.1% 27.8% 1.4% Oil and Gas 1,464,669 499
Slide 30: Non-performing loans (NPL) analysis
Overview Operating Environment Financial Review Guidance Non-performing loans (NPL) analysis NPL Analysis 2023FY 2024FY VAR % VAR 2023FY 2024FY N'million N'million N'million % NPL Ratio NPL Ratio Communication 15,641 17,358 1,717 11.0% 23.5% 27.8% Oil and Gas 23,184 27,580 4,395 19.0% 2.0% 1.4% - Oi
Slide 31: Focus remains on asset quality as the loan book increases
Overview Operating Environment Financial Review Guidance Focus remains on asset quality as the loan book increases Non-performing Loan (NPL) Ratio NPL Contribution by Sector (2023FY Vs. 2024FY) Communication: 14% Vs 12% Oil & Gas: Upstream: 0% Vs 0% 14% 12% 0% Transport: 4% Vs 4% 2024FY 0% 4% Power:
Slide 32: A combination of fresh equity and capitalized earnings led to increased CAR
Overview Operating Environment Financial Review Guidance A combination of fresh equity and capitalized earnings led to increased CAR Capital Adequacy Ratio Computation – Basel II Capital Adequacy Ratio Trend N’billion N‘billion 2023FY 2024FY VAR 897.9 1,020 45% 935 850 Tier 1 Capital 208.2 550.7 342
Slide 33: 2025 Guidance
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Slide 34: Actual Vs. Target
Overview Operating Environment Financial Review Guidance Actual Vs. Target 2024FY Actual 2024FY Target Comment 2025FY Target PBT N385.2bn N170.0bn Achieved N555.0bn Loan Growth 41.9% 10.0% - 15.0% Achieved 10.0% - 15.0% Deposit Growth 47.9% 15.0% - 20.0% Achieved 15.0% - 20.0% Net Interest Margin 12
Slide 35: Fidelity Bank Plc contact details
Fidelity Bank Plc. 2 Kofo Abayomi Street, Victoria Island, Lagos, Nigeria +234 (01) 4480853 info.investor@fidelitybank.ng www.fidelitybank.ng Fidelity Bank information meant for public use