stanbic ibtc holdings plc - the vault stanbic ibtc holdings plc presentation / page 15 / gross loans...

44
STANBIC IBTC HOLDINGS PLC FY 2019 FINANCIAL RESULTS PRESENTATION

Upload: others

Post on 05-Jun-2020

4 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLCFY 2019 FINANCIAL RESULTS PRESENTATION

Page 2: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 2 /

Page 6

Page 20

Page 26

Page 30

Financial review – FY 2019

➢ Personal & Business Banking

➢ Corporate & Investment Banking

➢ Wealth

Page 3Background and the operating environment

Appendix

Outlook and Guidance

1

2

4

Page 34

Page 38

3

TABLE OF CONTENT

Page 3: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

BACKGROUND AND THE OPERATING ENVIRONMENT

Page 4: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 4 /

We measure our progress using five strategic value drivers

Missionthe reason we exist

Visionwhat we aspire to be

In executing our group strategy our key focus areas are

DigitizationLeverage our digital platforms

IntegrationDeliver Stanbic IBTC Group

Client centricityDeliver exceptional client experiences

SEE = Social, economic and environmental

STRATEGIC FOCUS IS UNCHANGED

Committed to solutions that drive your progress.

To be the leading end-to-end financial solutions provider in Nigeria through innovative and customer focused people.

Page 5: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 5 /

Reserves, Brent Crude Oil Price & Crude Oil Production

Inflation (%)

Interest Rates

Exchange Rate Movement

❖Growth in the Nigerian economy remains moderate, stillaround the 2% level as ICT sector maintains strong growth.

❖The country’s foreign reserves dropped from a high of$45bn in June 2019 to end the year at $38.6bn owing topersistent balance of payment pressures.

❖Currency remained largely stable for most of the year;closing the year at N364.7/$.

❖The Central Bank of Nigeria (“CBN”) cut the benchmarkmonetary policy rate by 50bps in March 2019 as part of itsefforts in driving private sector credit growth.Furthermore, the CBN instituted a 65% minimum loan todeposit ratio for banks while also restricting individualsand local companies including non-bank financialinstitutions such as pension fund administrators and assetmanagers from trading in Open Market Operations(“OMO”) bills.

❖Headline inflation moderated for most of the year but theborder closures towards the end of year exerted upwardpressure. Headline inflation moderated to an average of11.4% from 12.1% average recorded in 2018. This hassince spiked to 12.13% in January 2020.

❖The Nigerian stock market was largely bearish during theyear, with the All Share Index (ASI) recording a negativereturn of 14.6%. The listing of two major telecomcompanies improved the market’s depth.

Source: IMF/NBS/CBN/BMI/OPEC

MACRO-ECONOMIC AND OPERATING ENVIRONMENT

0%

5%

10%

15%

20%

25%

30%

Average inter-bank call rate OMO Tbills - short term

OMO Tbills - medium term OMO Tbills - long term

Bond - 3 year

11.37

11.31

11.25

11.37

11.40

11.22

11.08

11.02

11.24 11.61

11.85

11.98

12.13

1.65

1.7

1.75

1.8

1.85

1.9

-

20

40

60

80

Reserves (US$ billions)

Brent Crude oil (US$).Month end price

Crude oil production (million bpd)

250

300

350

400

450

500

550

Jan

-17

Feb

-17

Mar

-17

Ap

r-1

7M

ay-1

7Ju

n-1

7Ju

l-1

7A

ug-

17

Sep

-17

Oct

-17

No

v-1

7D

ec-1

7Ja

n-1

8Fe

b-1

8M

ar-1

8A

pr-

18

May

-18

Jun

-18

Jul-

18

Au

g-1

8Se

p-1

8O

ct-1

8N

ov-

18

Dec

-18

Jan

-19

Feb

-19

Mar

-19

Ap

r-1

9M

ay-1

9Ju

n-1

9Ju

l-1

9A

ug-

19

Sep

-19

Oct

-19

No

v-1

9D

ec-1

9

NG

N /

USD

rat

e

CBN Parallel market NAFEX I&E FX Window

US$ million

Page 6: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

FINANCIAL REVIEW FY 2019

Page 7: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 7 /

FY19: N233.8bn

FY18: N222.4bn

FY19: 692 kobo

FY18: 704 kobo

FY19: N75.0bn

FY18: N74.4bn

Gross Earnings Earnings Per Share

Profit After Tax

ROE Cost to Income Credit Loss Ratio

FY19: 27.3%

FY18: 34.5%

FY19: 50.4%

FY18: 52.9%

FY19: 0.2%

FY18: -0.7%

SUMMARY OF FY 2019 PERFORMANCE – INCOME STATEMENT

+5% -2% +1%

Page 8: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 8 /

FY19: N1.876trn

FY18: N1.664trn

FY19: N637.8bn

FY18: N807.7bn

FY19: N532.1bn

FY18: N432.7bn

Total AssetsCustomer Deposits

Net Customer Loans & Advances

ROA CASA Ratio Gross NPL Ratio

FY19: 4.2%

FY18: 4.8%

FY19: 71.1%

FY18: 56.8%

FY19: 3.9%

FY18: 3.9%

SUMMARY OF FY 2019 PERFORMANCE – FINANCIAL POSITION ITEMS

+13% -21% +23%

Page 9: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 9 /

OVERVIEW OF INCOME STATEMENT FOR FY 2019 VS FY 2018

120,412

(42,581)

108,755

(1,632)

(94,029)

90,925 (15,890)75,035

Interest income Interest expense Non-interest revenue Credit impairment charges Operating expenses Profit before taxation Taxes Profit after taxation

FY 2019 N ’million

118,382

(40,173)

102,604

2,940

(95,601)

88,152

(13,712 )

74,440

Interest income Interest expense Non-interest revenue Credit impairment charges Operating expenses Profit before taxation Taxes Profit after taxation

FY 2018 N ’million

Page 10: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 10 /

NET INTEREST INCOME

❖ Net interest income was flat year-on-year though interestincome grew by 2% to N120.4 billion (FY 2018: N118.4 billion)but the growth was not sufficient to cover the 6% growth ininterest expense. Hence, the flat NII.

❖ Net interest margin declined as a result of faster growth intotal assets compared to NII growth.

❖ Cost of funds declined year-on-year as we continue the driveto replace expensive term deposit with cheaper depositliabilities.

Interest Expense

Interest Income

13.0 13.7

17.7

13.7

11.6

5.8

4.1 4.7 4.0 3.9

4.7

5.9 6.9

5.2 4.5

2015 2016 2017 2018 2019

Asset yield Cost of funds Net interest margin

82,686 87,467 122,911 118,382 120,412

2015 2016 2017 2018 2019

38,826 29,608 39,324 40,173 42,581

2015 2016 2017 2018 2019

43,860 57,859 83,587 78,209 77,831

2015 2016 2017 2018 2019

Net Interest income

Page 11: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 11 /

NON-INTEREST REVENUE

❖ Non-interest revenuegrew by 6% drivenby a 16% increase intrading income and5% growth in feesand commission.

Break down of fees and commission income

Break down of non-interest income by type

2015 2016 2017 2018 2019

1% 1% 1% 1% 2%

27%22%

33% 31% 33%

72%76%

66% 68% 65%

Other revenue Trading revenue Net fees and commisions income

4,164 3,792 7,349

42,358

3,775 3,394 6,529

2,139 1,534 3,530 3,459 6,624 41,154 3,826 2,062 7,325 1,906 1,333

Accounttransaction fees

Card basedcommission

Brokerage andfinancial advisory

fees

Assetmanagement fees

Custodytransaction fees

Electronic banking Foreign currencyservice fees

Documentationand

administrationfees

Other

2019 2018

56,788 68,194 89,182 102,604 108,755

0.91

0.99 1.04

1.07 1.16

0.60

0.70

0.80

0.90

1.00

1.10

1.20

-

20,000

40,000

60,000

80,000

100,000

120,000

2015 2016 2017 2018 2019

Non-interest revenue NIR to OPEX ratio

Page 12: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 12 /

INCOME STATEMENT - CREDIT IMPAIRMENT

❖Credit impairment was acharge of N1.6bncompared to a write backof N2.9bn in FY 2018 aswe continue to maintain aquality asset book.

❖Credit loss ratio was 0.2%for 2019.

14,931 19,803 25,577

(2,940)1,632

3.8

5.2

6.6

-0.7

0.2

-1.5

-0.5

0.5

1.5

2.5

3.5

4.5

5.5

6.5

7.5

(5,000)

-

5,000

10,000

15,000

20,000

25,000

30,000

2015 2016 2017 2018 2019

Impairment charges on loans and advances Credit loss ratio

Nmillion%

Page 13: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 13 /

OPERATING EXPENSES AND TAXATION

❖Operating expenses declined by 2% year-on-year.

❖Staff cost declined by 6% due to decline inprovisioning for shared backed incentives.

❖Other operating expenses increased by 2% mainlyas a result of growth in information technologycost, AMCON charges and deposit insurancepremium on customer deposits.

❖Cost-to-income ratio improved to 50.4% from52.9% recorded in prior year.

❖Effective tax rate increased to 17.5% from 15.6%in FY 2018 on the back of the change in the basisof tax computation for the banking subsidiary.

62,066 69,041 86,026 95,601 94,029

61.7%

54.8% 49.8% 52.9%50.4%

0%

20%

40%

60%

80%

100%

-

20,000

40,000

60,000

80,000

100,000

120,000

2015 2016 2017 2018 2019

Operating expenses (N'm) Cost-to -income ratio

Nmillion

4,760 8,689 12,785 13,712 15,890

20.1%

23.4%20.9%

15.6%17.5%

0%

5%

10%

15%

20%

25%

-

4,000

8,000

12,000

16,000

2015 2016 2017 2018 2019

Taxation Effective tax rate

Nmillion

Page 14: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 14 /

TOTAL ASSETS

1,876,456

459,442

281,780231,972

155,330

532,124 179,58136,227

Total Assets Cash & loans tobanks

Trading andderivative assets

Pledged assets Financial investments Loans & advances tocustomers

Other assets Intangible assets,property &equipment

N’million

937.6 1,053.5 1,386.4 1,663.7 1,876.5

1.7%2.5%

3.8%

4.8%

4.2%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

-

200.0

400.0

600.0

800.0

1,000.0

1,200.0

1,400.0

1,600.0

1,800.0

2,000.0

2015 2016 2017 2018 2019

Total Assets Return on assets

25% 30% 30% 28% 24%

9% 4% 4% 10% 14%4% 2%

11% 5%13%17% 24%

23% 24% 8%

38% 34%27% 26%

28%

3% 5% 4% 5% 10%3% 2% 2% 1% 2%

2015 2016 2017 2018 2019Intangible assets, property & equipment Other assets

Loans & advances to customers Financial investments

Trading assets Pledged & derivative assets

Cash & loans to banks

Page 15: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 /

GROSS LOANS AND ADVANCES

2019LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

Personal & Business Banking 162.5 36.3 198.8 Mortgage 4.5 - 4.5 Instalment sale & finance leases 7.4 0.7 8.1 Overdrafts 26.9 3.1 30.0 Term loans 123.8 32.5 156.3 Corporate & Investment Banking 145.0 212.7 357.6 Term loans 121.6 212.6 334.2 Overdrafts 22.6 0.0 22.6

Instalment sale and finance lease 0.8 - 0.8 Total loans 307.5 248.9 556.4 Percentage (%) 55% 45% 100%

2018LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

139.4 40.4 179.8 5.6 - 5.6 7.9 0.8 8.7

28.8 2.9 31.6 97.2 36.8 134.0

104.3 174.9 279.1 67.6 174.9 242.5 35.5 - 35.5

1.1 - 1.1 243.7 215.3 459.0

53% 47% 100%

❖PBB and CIB loan books grew by 11%and 28% respectively.

❖LCY book grew by 26% and FCY bookgrew by 16%.

❖ Gross loans portfolio grew by 21%year-on-year as we continue tosupport our clients’ businesses andaspirations.

❖ Installment sales, overdraft, financeleases and mortgage loans declined asa result of maturities in the year.

❖ Increase in term loans is in line withour objective to grow stable andquality assets.

Gross loans and advances

379.4 375.3 403.9 458.9 556.4

2015 2016 2017 2018 2019

N’billion

458,946

(1,313) (991) (14,294) 114,036

556,384

Gross loansand advances

- FY 2018

Mortgagelending

Installmentsales and

finance leases

Overdrafts Term loans Gross loansand advances

- FY 2019

Page 16: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 16 /

LOANS AND ADVANCES BY SECTOR

Agriculture8%

Construction and real estate10%

Consumer credit11%

Finance & Insurance

0.3%

General commerce

10%

Government7%

Manufacturing36%

Oil & Gas Service

2%

Oil & gas downstream

7%

Oil & gas Upstream

6%

Transportation & communication

3%

FY 2018Agriculture

6%Construction and

real estate8%

Consumer credit10% Finance & Insurance

1%General commerce

8%

Government6%

Manufacturing28%

Oil & Gas Service5%

Oil & gas downstream

10%

Oil & gas Upstream 14%

Transportation & communication

4%

FY 2019

Page 17: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 17 /

LOAN PERFORMANCE

2019% of total

NPLs 2018% of total

NPLs

Local currency 15,343 71% 15,037 85%

Foreign currency 6,251 29% 2,677 15%

Total NPLs 21,594 100% 17,714 100%

2019 2018

Sector% of Total

NPL NPL ratio

(%)% of Total

NPL NPL ratio

(%)

Agriculture 41.0% 28.2% 12.4% 5.9%Construction and real estate 15.9% 7.7% 2.9% 1.2%

Consumer credit 17.8% 6.8% 44.9% 15.5%

General commerce 5.6% 2.8% 10.0% 3.8%

Government 0.4% 0.3% 9.4% 5.1%

Manufacturing 0.3% 0.0% 0.7% 0.1%

Oil & gas services 3.9% 3.0% 5.4% 9.1%

Oil Downstream 0.0% 0.0% 0.2% 0.1%

Transportation & communication 15.1% 13.0% 14.1% 19.6%

Grand Total 100.0% 3.9% 100.0% 3.9%

32.2 21.9 35.3 17.7 21.6

8.4%

5.8%

8.6%

3.9% 3.9%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

-

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

2015 2016 2017 2018 2019

Gross non-performing loans NPL/ total loans

Nbillion

Page 18: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 18 /

CUSTOMER DEPOSITS

2018LCY FCY Total

N ’billion N ‘billion N ‘billion

339.6 166.1 501.7204.3 121.5 325.8

67.3 0.0 67.3

5.3 0.9 6.2

62.7 39.7 102.4

171.0 131.0 306.038.5 26.9 65.437.0 30.5 67.595.4 77.7 173.1

510.6 297.1 807.763% 37% 100%

❖ Expensive term depositswere released.

❖ CASA ratio improved from56.8% in 2018 to 71.1% in2019.

2019

LCY FCY TotalNmillion Nmillion Nmillion

Personal & Business Banking 302.4 167.5 470.0 Current Accounts 163.3 143.4 306.8

Savings Accounts 87.4 - 87.4

Call Deposits 4.6 2.3 6.9

Term Deposits 47.1 21.8 68.9 Corporate & Investment Banking 96.5 71.4 167.9

Current accounts 41.4 17.9 59.3 Call deposits 21.4 2.2 23.6 Term deposits 33.7 51.3 85.0

Total deposits 398.9 238.9 637.8 63% 37% 100%

493.5 561.0 753.6 807.7 637.8

44%

57%49%

56.8%

71.1%

20%

30%

40%

50%

60%

70%

80%

0

200

400

600

800

2015 2016 2017 2018 2019

Deposit liabilities CASA mix

Nbillion

637,840 807,692

(25,164)(43,198) 20,061 (121,551)

Customerdeposits FY

2018

Currentaccounts

Call deposits Savingsaccounts

Term deposits Customerdeposits FY

2019

Page 19: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 19 /

CAPITAL AND SHAREHOLDERS’ FUND

Shareholders’ Equity

17.4%18.6% 19.6%

21.3% 21.9%21.3%22.8% 23.5%

24.7% 24.6%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

2015 2016 2017 2018 2019

Tier 1 capital adequacy Total capital adequacy Statutory minimum

12.9%

18.9%

28.9%

34.5%

27.3%

2015 2016 2017 2018 2019Return on Equity

123.7 137.1

182.1

235.4

296.3

2015 2016 2017 2018 2019

N’billion

1,237 1,371 1,812 2,299 2,821

1.3 1.1

2.3 2.1

1.5

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

2015 2016 2017 2018 2019

Net asset value per share Price- to- book

kobo Times

Page 20: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

BANKING (PBB)PERSONAL & BUSINESS

Page 21: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 21 /

PBB PERFORMANCE HIGHLIGHTS

Total Income

Profit After Tax

Gross Loans & Advances

Customer Deposits

RoE

Cost to Income

Credit Loss Ratio

NPL Ratio

FY19: N52.3bnFY18: N48.9bn

FY19: N2.3bnFY18: N581mn

FY19: N198.8bnFY18: N179.8bn

FY19: N470.0bnFY18: N501.7bn

FY19: 9.5%FY18: 9.0%

FY19: 1.2%FY18: 0.4%

FY19: 91.1%FY18: 97.0%

FY19: 3.0%FY18: 0.9%

Page 22: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 22 /

PBB FINANCIAL ANALYSIS – FY 2019

Performance highlights

2019 Change 2018

Income statement N’million % N’million

Net interest income 36,071 12 32,176

Non-interest revenue 16,254 (3) 16,720

Total income 52,325 7 48,896

Credit impairment charges (2,191) >100 (618)

Operating expenses (47,669) (47,435)

Profit before tax 2,465 >100 843

Profit after tax 2,268 >100 581

Balance sheet FY 2019 FY 2018

Gross loans & advances 198,775 11 179,813

Deposit liabilities 469,957 (6) 501,689

Key selected ratios FY 2019 FY 2018

Cost to income ratio % 91.1 97.0

CASA ratio % 84 78

Credit loss ratio % 1.2 0.4

NPL/total loan ratio % 9.5 9.0

❖12% growth in NII on the back of 11% loans andadvances book growth.

❖ Credit impairment charges grew by over 100% asprovisions were made for loans not performing. Thenon-performing loans were largely from the agriculturalsector.

❖Operating expenses was flat year-on-year with staff costdeclining 5% while other operating expenses grew by6%.

❖We continue to support our clients’ business by availingthem credit facility.

❖Deposit book declined as we continue to releaseexpensive deposit. CASA ratio for PBB improved to 84%from 78% the previous year.

Page 23: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 23 /

1,664,969

1,633,975

1,688,511

1,614,091

Q1-19 Q2-19 Q3-19 Q4-19

Branch Transaction Trend Q-o-Q

Digital banking continues to be a major focus for PBB. The total digitaltransactions grew by 38% year on year.

DIGITAL CHANNELS

32,809,389

36,922,038

43,447,22346,580,874

Q1-19 Q2-19 Q3-19 Q4-19

Digital Transaction Trend Q-o-Q

44,957,204

85,318,183 116,083,525

159,759,524

FY 2016 FY 2017 FY 2018 FY 2019

Digital Transaction Trend Y-o-Y

Page 24: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 24 /

DIGITAL CHANNELS

2,999,213

6,533,579

14,657,732

29,557,160

5,551,148

6,172,303

6,883,217

6,969,093

FY 2016

FY 2017

FY 2018

FY 2019

Q1 2019

Q2 2019

Q3 2019

Q4 2019

USSD Banking

4,091,722

7,857,242

15,219,901

23,370,614

4,909,889

5,199,040

5,686,474

5,693,968

FY 2016

FY 2017

FY 2018

FY 2019

Q1 2019

Q2 2019

Q3 2019

Q4 2019

Mobile Banking

3,784,348

7,209,429

11,627,149

15,354,426

3,456,193

3,666,215

4,021,874

4,075,705

FY 2016

FY 2017

FY 2018

FY 2019

Q1 2019

Q2 2019

Q3 2019

Q4 2019

POS

164,043

399,403

536,642

612,365

130,867

134,708

127,985

103,759

FY 2016

FY 2017

FY 2018

FY 2019

Q1 2019

Q2 2019

Q3 2019

Q4 2019

SME Internet Banking

22,277,271

47,131,873

49,866,875

54,902,229

12,428,975

13,128,577

13,970,700

13,674,846

FY 2016

FY 2017

FY 2018

FY 2019

Q1 2019

Q2 2019

Q3 2019

Q4 2019

ATM

6,950

95,974

161,694

153,577

36,576

39,885

48,351

46,472

FY 2016

FY 2017

FY 2018

FY 2019

Q1 2019

Q2 2019

Q3 2019

Q4 2019

BNA

102% 54% 32%

14% 10% 5%

Page 25: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 25 /

• Cost optimization initiatives.

• Optimizing our digital banking offering

IMPROVE NIR TO COST RATIO

• The business would continue to focus on growth

in customer base as this would trigger increased

transaction velocity as well as growth of other

P&L elements.

✓ We would leverage on Virtual Banking to

ensure increased customer acquisition.

✓ Improve the active customer ratio.

✓ Enhance Primary Customer Growth

GROWTH IN CUSTOMER NUMBERS• Risk assets growth.

• Continued focus on after write-off recoveries.

• Increased customer deposits and cash

optimization initiatives.

BALANCE SHEET GROWTH

PBB – MOVING FORWARD 2020

Page 26: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

BANKING (CIB)CORPORATE & INVESTMENT

Page 27: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 27 /

CIB PERFORMANCE HIGHLIGHTS

Total Income

Profit After Tax

Gross Loans & Advances

Customer Deposits

RoE

Cost to Income

Credit Loss Ratio

NPL Ratio

FY19: N83.8bnFY18: N84.6bn

FY19: N49.8bnFY18: N51.2bn

FY19: N357.6bnFY18: N279.1bn

FY19: N167.9bnFY18: N306.0bn

FY19: 0.8%FY18: 0.6%

FY19: (0.2%)FY18: (1.3%)

FY19: 34.2%FY18: 39.2%

FY19: 36.6%FY18: 50.2%

Page 28: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 28 /

CIB FINANCIAL ANALYSIS – FY 2019

Performance highlights

2018 Change 2018

Income statement N ’million % N ’million

Net interest income 35,247 (14) 40,952

Non-interest revenue 48,509 11 43,600

Total income 83,756 (1) 84,552

Credit impairment charges 535 (85) 3,594

Operating expenses (28,661) (14) (33,141)

Profit before tax 55,630 1 55,005

Profit after tax 49,756 (3) 51,218

Balance sheet FY 2019 FY 2018

Gross loans & advances 357,608 28 279,133

Deposit liabilities 167,883 (45) 306,003

Key selected ratios FY 2018 FY 2018

Cost to income ratio % 34.2 39.2

CASA ratio % 35 21

Credit loss ratio % (0.2) (1.3)

NPL/total loan ratio % 0.8 0.6

❖ A good performance from our capital markets,advisory and global markets businesses in 2019,despite the challenging operating environment.

❖ Credit impairments was a write-back with a creditloss ratio of –0.2% but declined year-on-year due tonon-occurrence of significant recovery.

❖ Cost-to-income ratio improved to 34.2% as a resultof savings in staff cost from incentive bonusprovisions which is tied to the Group’s share price.

❖ Loan book growth was driven by opportunitiestaken in term loans.

❖ Deposit book declined due to our drive to curtailcost of fund.

Page 29: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 29 /

Digitization.5

Developing high performance culture & people engagement.

6

Efficient cost Management &optimisation.

7

Leveraging strength in FX.8

Growing client revenue contribution.

1

Driving the targeted growth of deposits to drive funding cost

down.2

Growing the loan book. 3

Unlocking the trade opportunity. 4

CIB – MOVING FORWARD 2020

Page 30: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

WEALTH

Page 31: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 31 /

FY19: N50.5bnFY18: N47.4bn

Total Income

FY19: N23.0bnFY18: N22.6bn

Profit After Tax

FY19: 42.2%FY18: 49.8%

Return on Equity

FY19: N3.8trnFY18: N3.2trn

Asset Under Mgt.

FY19: 35.0%FY18: 31.7%

Cost to Income

WEALTH PERFORMANCE HIGHLIGHTS

Page 32: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 32 /

WEALTH FINANCIAL ANALYSIS – FY 2019

Performance highlights

2019 Change 2018

Income statement N’million % N’million

Net interest income 6,513 28 5,081

Non-interest revenue 43,992 4 42,284

Total income 50,505 7 47,365

Credit impairment charges 24 >100 (36)

Operating expenses (17,699) 18 (15,025)

Profit before tax 32,830 2 32,304

Profit after tax 23,011 2 22,641

FY 2019 FY 2018

Asset under Management (N ’million) 3,856,720 20 3,221,574

Key selected ratios FY 2019 FY 2018

Cost to income ratio % 35.0 31.7

❖Net interest income grew by 28% as the businesscontinues to invest its capital in financial andinvestment securities.

❖Non-interest revenue grew by 4% even thoughAuM grew by 20%. This is a reflection of theimpact of the regulatory induced fee reduction.

❖Operating expenses grew by 18%, driven by year-on-year growth in information technologyexpenses, depreciation and staff costs.Consequently, Cost-to-income ratio was up to 35%from 31.7% in the prior year.

Page 33: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 33 /

WEALTH – MOVING FORWARD 2020

Collaboration 1Collaborate with regulators and other stakeholders todevelop initiatives that will entrench best practice,support industry growth and improve customerexperience. We will continue to leverage the StanbicIBTC ecosystem to deliver value adding services to ourclients.

Customer Experience 3Leverage emerging technology to deliver uniquevalue propositions and experiences for our clients.We will focus on increasing our distribution networkto conveniently serve our customers. Digitization4

Focus on data quality improvement initiatives aswell as increasing levels of digitization to improvetransactional and processing efficiencies across ourbusinesses.

Employee Engagement2Focus on employee engagement to ensureimproved employee value proposition andincreased productivity. We will also continue todevelop the capacity of our employees to makethem ready for the future of work.

Page 34: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

GUIDANCEOUTLOOK &

Page 35: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 35 /

✓ GDP growth of 2.4%✓ Average oil production

levels of 2.0m bpd✓ Brent oil price of $60 bbl✓ Stable political

environment✓ Average headline

inflation of 12.5% - 13.5%✓ Impact of COVID-19

Nigeria’s Economic & Political environment

Banking Industry

✓ MPR: 12% - 14%✓ Stable foreign

exchange rate

Areas of focus for 2020financial year:✓ Cost efficiency✓ Improving risk asset quality✓ Loan growth✓ Growing low-cost deposits✓ Client service and improving

customer experience✓ Digitization

Key risks to our results are:✓ Competitive asset pricing✓ Regulatory interventions

Stanbic IBTC

OUTLOOK FOR 2020

Page 36: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 36 /

2019 Actual 2019 Guidance 2020 Guidance

AuM Growth +19.7% 15% - 20% 15% - 20%

Return on Equity 27.3% 25% - 30% 25% - 30%

Cost to Income 50.4% 50% - 55% 50% - 55%

Net Interest Margin 4.5% 4% - 5% 4% - 5%

Cost of Risk 0.2% <3% < 2%

CASA Ratio 71.1% >60% >65%

NPL Ratio 3.9% <5% <5%

Deposit Growth (21%) (10%) - (15%) 10% - 15%

Loan Growth 23% 20% - 25% 15% - 20%

2020 GUIDANCE VS 2019 ACTUAL

Page 37: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 37 /

Questions & Answers

Page 38: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

APPENDIX

Page 39: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 39 /

Stanbic IBTC Trustees Ltd

Stanbic IBTC Nominees Nigeria Ltd

Stanbic IBTCVentures Ltd

Stanbic IBTC Bureau De Change Ltd

99.9%

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 Investments Ltd

Stanbic IBTC Asset Management Ltd

Stanbic IBTC Capital Ltd

Stanbic IBTC Stockbrokers Ltd

ABOUT STANBIC IBTC HOLDINGS PLC

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

2019

Standard Bank increased its stake in Stanbic IBTC to 65.70%

ABOUT STANBIC IBTC HOLDINGS PLC

Page 40: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 40 /

Group income statement

GROUP INCOME STATEMENTChange

% 2019

Nmillion2018

NmillionGross earnings 5 233,808 222,360

Net interest income (0) 77,831 78,209 Interest income 2 120,412 118,382 Interest expense 6 (42,581) (40,173)

Non-interest revenue 6 108,755 102,604 Net fees and commission revenue 1 70,393 69,845

Fees and commission revenue 5 75,034 71,219 Fees and commission expense >100 (4,641) (1,374)

Trading revenue 16 36,332 31,311 Other revenue 40 2,030 1,448

Total income 3 186,586 180,813

Net impairment write-back/(loss) on financial assets (>100) (1,632) 2,940

Income after credit impairment charges 1 184,954 183,753 Operating expenses (2) (94,029) (95,601)Staff costs (6) (40,618) (43,027)Other operating expenses 2 (53,411) (52,574)

Profit before taxation 3 90,925 88,152 Direct taxation 16 (15,890) (13,712)Profit for the period 1 75,035 74,440

Page 41: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 41 /

Group quarterly income statement

GROUP QUARTERLY INCOME STATEMENT

Q4 2019 Q3 2019 Q2 2019 Q1 2019N’million N’million N’million N’million

Gross income 57,651 58,783 58,681 58,693 Net interest income 19,159 19,362 19,125 20,185

Interest income 29,374 30,254 29,642 31,142 Interest expense (10,215) (10,892) (10,517) (10,957)

Non-interest revenue 26,816 27,087 27,848 27,004 Net fee and commission revenue 17,020 17,404 19,178 16,791

Fee and commission revenue 18,481 18,846 20,369 17,338 Fee and commission expense (1,461) (1,442) (1,191) (547)

Trading revenue 9,144 9,585 7,805 9,798 Other revenue 652 98 865 415

Total income 45,975 46,449 46,973 47,189 Credit impairment charges (1,722) (467) (834) 1,391 Income after credit impairment charges 44,253 45,982 46,139 48,580 Operating expenses (22,436) (21,524) (24,998) (25,071)

Staff costs (10,045) (10,688) (10,715) (9,170)Other operating expenses (12,391) (10,836) (14,283) (15,901)

Profit before taxation 21,817 24,458 21,141 23,509 Taxation (2,334) (5,151) (4,046) (4,359)Profit for the period 19,483 19,307 17,095 19,150

Page 42: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 42 /

Group statement of financial position

Change%

2019N’million

2018N’million

GROUP STATEMENT OF FINANCIAL POSITION

Change%

2019Nmillion

2018Nmillion

Assets

Cash and cash equivalents 0 456,396 455,773

Pledged assets 63 231,972 142,543

Trading assets >100 248,909 84,351

Derivative assets 9 32,871 30,286

Financial investments (61) 155,330 400,000

Loans and advances 21 535,170 441,261

Loans and advances to banks (64) 3,046 8,548

Loans and advances to customers 23 532,124 432,713

Other assets >100 168,689 77,787

Property and equipment 28 27,778 21,652

Right of Use assets >100 3,217 -

Intangible assets >100 5,232 827

Deferred tax assets 19 10,892 9,181

Total assets 13 1,876,456 1,663,661

Equity 26 302,229 239,667 Equity attributable to ordinary shareholders

26 296,302 235,406

Ordinary share capital 3 5,252 5,120 Ordinary share premium 16 88,181 76,030 Reserves 32 202,869 154,256 Non-controlling interest 39 5,927 4,261

Liabilities11 1,574,227 1,423,994

Trading liabilities 99 250,203 125,684 Derivative liabilities 5 4,343 4,152 Current tax liabilities 29 19,230 14,899 Deposit and current accounts (8) 886,743 967,964 Deposits from banks 55 248,903 160,272 Deposits from customers (21) 637,840 807,692

Other borrowings 32 92,165 69,918 Debts securities issued 76 106,658 60,595 Provisions (34) 8,860 13,452 Other liabilities 23 206,025 167,193 Deferred tax liabilities (100) - 137

Total equity and liabilities 13 1,876,456 1,663,661

Page 43: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 43 /

Personal & Business Banking Corporate & Investment Banking Wealth2019 2018 2019 2018 2019 2018

N’million Nmillion N’million N’million N’million N’millionGross income 64,031 59,332 114,631 114,289 50,505 47,365 Interest income 47,777 42,612 66,122 70,689 6,513 5,081 Interest expense (11,706) (10,436) (30,875) (29,737) - -Net interest income 36,071 32,176 35,247 40,952 6,513 5,081 Non-interest revenue 16,254 16,720 48,509 43,600 43,992 42,284 Total income 52,325 48,896 83,756 84,552 50,505 47,365 Credit impairment charges (2,191) (618) 535 3,594 24 (36)

Income after credit impairment charges 50,134 48,278 84,291 88,146 50,529 47,329

Operating expenses (47,669) (47,435) (28,661) (33,141) (17,699) (15,025)

Staff costs (23,702) (24,831) (9,507) (11,097) (7,409) (7,099)Other operating expenses (23,967) (22,604) (19,154) (22,044) (10,290) (7,926)

Profit before tax 2,465 843 55,630 55,005 32,830 32,304 Tax (197) (262) (5,874) (3,787) (9,819) (9,663)Profit after tax 2,268 581 49,756 51,218 23,011 22,641

Cost to Income 91.1% 97.0% 34.2% 39.2% 35.0% 31.7%Return on Equity 3.0% 0.9% 36.6% 50.2% 42.2% 49.8%

SEGMENT REPORTING

Page 44: STANBIC IBTC HOLDINGS PLC - The Vault STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 15 / GROSS LOANS AND ADVANCES 2019 LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 44 /

If you received this document in error, please immediately return the document and other related documents to Standard Bank Group / Stanbic IBTC Holdings PLC.

On receipt of this document, you agree to be bound and are deemed to understand that:

This presentation is provided to you for information purposes only on the understanding that such information is strictly confidential. This presentation must not bedelivered or its contents disclosed to anyone other than the entity (including its employees) to which it is provided and must not be used or reproduced, in whole or part,for any purpose other than for information.

This presentation is intended to be a commercial communication and is not to be construed as a recommendation or the constitution or solicitation of an offer for the saleand purchase of any financial product, service, investment or security. The information, investments and/or strategies discussed in this presentation may not be suitable forall investors and where you have any concerns you should approach an investment advisor.

We do not accept liability for any loss (direct or consequential) arising from use of this presentation. You must not rely on any communication (written or oral) from us asinvestment advice, a recommendation to enter into a transaction (which includes the information and explanations related to the terms and conditions of a transaction) ordeem it to be an assurance or guarantee as to the expected results of a transaction. Investments discussed in this presentation may fluctuate in price or value over time andpast performance is not indicative of future results. While we have taken care in preparing this presentation, we give no representation, warranty or undertaking andaccept no responsibility or liability as to the accuracy or completeness of the information set out in this presentation. This presentation does not represent an offer offunding and any facility to be granted in terms of this presentation is subject to us obtaining the requisite internal and external approvals.

Our duties and responsibilities do not include tax advisory, legal, regulatory accounting or other specialist or technical advice or services. You must procure and rely onindependent assessments and investigations into all matters contemplated in this presentation.

© 2020 Standard Bank Group / Stanbic IBTC Holding PLC. All rights reserved.

Disclaimer