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STANBIC IBTC HOLDINGS PLC PRESENTATION / PAGE 1 /

STANBIC IBTC HOLDINGS PLCHALF YEAR 2021 FINANCIAL RESULTS PRESENTATION

September 2021



Financial review – H1 2021

Page 3Background and the operating environment

Business Transformation

Guidance

1

2

4

Page 37

Page 39

3

TABLE OF CONTENT

9

Wealth

Page 32Personal and Business Banking

Page 26

Corporate and Investment Banking

5

7

6

Page 11

Appendix Page 438



BACKGROUND AND THE OPERATING ENVIRONMENT



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

Strategic Intent: To be within the top 5 in market share, ROE and service across our lines of business –Consumer & HNW, Business & Commercial and Wholesale clients – by 2025.



Inflation %

Real GDP %❖ The Nigerian economy grew by 5.01% year-on-year (YoY) inQ2 2021, which is a third consecutive quarter of growth,after having exited recession in Q4 2020 with the growth of0.11% YoY. This growth was mainly driven by the growth inTrade, ICT, Agriculture, and Manufacturing sectors, amongothers. Economic activity had improved after the easing ofpublic health restrictions, spurring increased demand forservices such as outdoor dining and domestic travel.

❖ Interest rates have been increasing steadily since the end ofNovember 2020, increasing by over 8% from a bottom of0.15%.

❖ The steady liquidity tightening by the CBN in a bid to reducedollar demand has kept naira liquidity and the interbank ratetight. This has driven fixed deposit and interbank rates higher.

❖ Headline inflation rose from 16.5% year-on-year (YoY) inJanuary 2021 to 18.2% YoY in March 2021 but saw a gradualmoderation in Q2 2021, taking it to 17.4% YoY in July 2021.The moderation is mainly attributed to the high base effectfrom 2020.

MACRO-ECONOMIC AND OPERATING ENVIRONMENT

-6.10

-3.62

0.110.51

5.01

-8

-6

-4

-2

0

2

4

6

Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2022

12.56 12.8213.22

13.7114.23

14.89

15.7516.47

17.3318.17 18.12 17.93 17.75

17.38

10

11

12

13

14

15

16

17

18

19



MACRO-ECONOMIC AND OPERATING ENVIRONMENT (Cont’d)

❖ Oil prices have followed an increasing trend, currentlyabove $70 per barrel, driven by demand recovery andsupply curbs by OPEC+.

❖ The country’s foreign exchange (FX) reserves declinedfrom $36.3 billion as of 31 January 2021 to $33.3 billionin June 2021. This was attributed to the payment forforeign debt obligations that matured during theperiod. FX reserves have however gained 2% since thento close at $34.0 billion as of 31 August 2021.

❖ While the CBN resumed FX sales to foreign portfolioinvestors in late April 2021, we saw the average dailyturnover in the IEFX window in June 2021 increase to$143.3 million, compared to an average of $60 millionrecorded from January till April 2021. The IEFX dailyturnover averaged $129.6 million in August 2021.

❖ In May 2021, CBN adjusted the official exchange rate toalign with the exchange rate at the Investors’ andExporters’ window, from ₦380/$1 at the beginning ofthe year to the current ₦410/$1.

Brent crude oil price and reserves

Exchange rate movement

36.2 35.9 35.7 35.7 35.7 35.4 35.4 36.3 35.1 34.8 34.9 34.2 33.3 33.4 34.0

41.2 43.3 45.341.0

37.5

47.651.8

55.9

66.163.5

66.769.3

74.9 76.373.0

-

10

20

30

40

50

60

70

80

Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21

Reserves (US$ billions) Brent Crude oil (US$).Month end price

250

300

350

400

450

500

550

Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21

NG

N /

USD

rat

e

CBN Official Parallel market NAFEX I&E FX Window



❖ The Coronavirus has infected 195,890 people andcaused 2,556 deaths in Nigeria as of 6 September 2021while 184,882 cases have been discharged. We haveseen a surge in the daily new infections in the countrysince July 2021, following the detection of the SARS-CoV-2 Delta variant in the country.

❖ Consequently, the Government placed six statesincluding Lagos, Oyo, Rivers, Kaduna, Kano, Plateauand the Federal Capital Territory (Abuja), on red alertas part of preventive measures against the pandemic.

❖ As a responsible institution, we continue to observethe necessary safety protocols to ensure the protectionof our employees, clients and the society at large.

❖ Nigeria officially ended its first phase of the COVID-19vaccination early July 2021 as the country hadexpended its available vaccine doses. A number of ouremployees voluntarily participated in the vaccinationexercise.

❖ The second phase of the vaccination commenced on 16August 2021. This phase would capture older adultsaged 50 years and above and those with comorbiditiesaged between 18 and 49 years of age.

Map shows the total confirmed cases by States as of 6 September 2021

COVID-19 UPDATEREPORTED CASES AND VACCINATION UPDATE

Cross River

516

Akwa Ibom

4,153

FCT

20,710

Lagos

74,044Ebonyi

2,048

Abia

1,736

Anambra

2,043

Kebbi

458

Kwara

3,653

Ondo

4,148

Yobe

501Kano

4,102Bauchi

1,568

Active cases4%

Discharged cases95%

Deaths1%



COVID-19 UPDATECLIENT FOCUS: ACTIONS TAKEN

❖ Granted loan moratorium andextension to customersranging from schools to smallscale businesses and fewcorporates.

❖ Total outstanding value ofloans restructured as a resultof COVID-19 amounted to₦6.97 billion in H1 2021 (FY2020: ₦50.97 billion).

Restructured Loans Trade Tenor Extension

❖ Extension of the repaymentperiod of trade obligationsdue to FX constraints andincreased receivablesperiod.

❖ Affected trade obligationsamounted to ₦3.2 billionas at H1 2021 (FY 2020:₦1.2 billion)

Intervention Facilities

❖ Extended moratorium andreduced interest rate by 400basis points on the on-lending funds in line with theCBN directive.

❖ Total value of theintervention facilities was₦31 billion as of H1 2021 (FY2020: ₦26 billion) with netinterest income impact of₦665 million.

At Stanbic IBTC, we reviewed our business continuity plan and activated our level three plans which took effect on 06 August 2021



INVESTING IN OUR COMMUNITY, FRANCHISE AND CAPABILITIES

Agents recruited for our Agency Banking.

1,478Wallets

1.26mn N1.28bnCSI & donations

ACQUIRING CLIENTS THROUGH CLIENT ECOSYSTEMS

Customer growth YTD%

EmployeesClients

Client

4%2%1.82mn RSA 2.49mn Banking

customers

Digital onboarding

DELIVERING ENHANCED EXPERIENCE

Total amount paid to Retirees in H1 2021

N72.7bn Loans disbursed via EZ Cash to over 130,000 customers

N40bnDividend paid to shareholders for FY 2020 which symbolize wealth creation and cash returns to shareholders

N44.4bn

Dividend

Digital

Face-to-Face

98%transaction volumes

through digital channels

26%

12%

Retiree Benefits

KEY HIGHLIGHTS

55%Payout ratio



HIGHLIGHTS

OUR SOCIAL, ECONOMIC AND ENVIRONMENTAL IMPACT

BRIDGING NIGERIA’S

INFRASTRUCTURE GAP

₦100 BILLION INFRASTRUCTURE FUND

We launched the ₦100 billionStanbic IBTC Infrastructure Funddedicated to infrastructureinvestment in Nigeria and acrossAfrica. The Fund is tailored toaddress Nigeria’s infrastructuredeficit by providing infrastructuralinvestment in critical sectors of theeconomy such as energy,telecommunications, healthcare,water treatment, wastemanagement, communications, andtransportation, among others.

ENERGY TRANSITION

EMBRACING ALTERNATIVE ENERGY SOURCES TO REDUCE CARBON

EMISSIONS AND ENERGY CONSUMPTION

We changed our Head Office powergeneration source to a cleaneroption, Compressed Natural Gas,from the previous diesel power. Asat June 2021, solar energy solutionshave been installed in 34 of officelocations. This represents about18% of all our office locations. Also,over 97 ATMs across 39 locationshave been onboarded on solarenergy solutions (representingabout 12% our total active ATMs).

SUSTAINABLE LENDING AND INVESTMENTS

FUNDING CLEAN ENERGY AND INVESTMENT IN SEE IMPACT

AREAS

We approved credit transactions of₦7.94 billion for solar energyrelated solutions during the period.

Also, we made ₦13.95 billioninvestment as of June 2021 acrossthree Social, Economic andEnvironmental (SEE) impact areas,including: infrastructuredevelopment, health, climatechange / environmental projects,through our Pensions and AssetManagement businesses.

GREEN BUILDING

ONGOING CONSTRUCTION OF THE USD118.0 MILLION HEAD OFFICE

The building is designed to achieve aGreen Star Rating of 4 stars by theGreen Building Council whichrepresents best practice in sustainabledesign. Other key considerationsinclude incorporating a BuildingManagement System to enablecontinuous monitoring of all buildingsystems for efficiency; utilization ofgas power and 100% LED lighting;creation of a dedicated wastesegregation area and provision forCreche, Wellness Centre amongothers.

FACILITATING FOREIGN DIRECT

/ PORTFOLIO INVESTMENT

USD30.5 BILLION CAPITAL IMPORTED THROUGH STANBIC

IBTC SINCE YEAR 2015

We have facilitated importation ofabout USD30.6 billion (39% ofindustry value) into Nigeria sinceyear 2015 till date.

During the first half of 2021 alone,we facilitated importation ofUSD771.8 million. This accountedfor 28% of the total capitalimported into Nigeria in H1 2021.

28%of imported capital in H1 2021



FINANCIAL REVIEW H1 2021



RETURN ON ASSETS GROSS NPL RATIO CASA RATIO

TOTAL ASSETS

2%

H1 21: N2.43trnFY 20: N2.49trn

CUSTOMER DEPOSITS

17%

H1 21: N958.4bnFY 20: N819.9bn

NET LOANS AND ADVANCES

22%

H1 21: N759.6bnFY 20: N625.1bn

4.0%

3.2%

FY 20

H1 21

82.8%

73.4%

FY 20

H1 21

SUMMARY OF H1 2021 PERFORMANCE – FINANCIAL POSITION ITEMS

3.8%

1.8%

FY 20

H1 21



28.3%

12.1%

H1 20

H1 21

RETURN ON EQUITY CREDIT LOSS RATIO COST-TO-INCOME RATIO

GROSS EARNINGS

26%

H1 21: N93.6bnH1 20: N126.6bn

EARNINGS PER SHARE

54%

H1 21: 192koboH1 20: 419kobo

PROFIT AFTER TAX

50%

H1 21: N22.5bnH1 20: N45.2bn

2.2%

(0.1%)

H1 20

H1 21

45.2%

70.3%

H1 20

H1 21

SUMMARY OF H1 2021 PERFORMANCE – INCOME STATEMENT



OVERVIEW OF INCOME STATEMENT FOR H1 2021 VS H1 2020

55,130

(17,581)

69,796

(6,404)

(48,535)

52,406(7,202) 45,204

Interest income Interest expense Non-interest revenue Credit impairmentcharges

Operating expenses Profit before taxation Taxes Profit after taxation

H1 2021

H1 2020

44,229

(11,350)

45,909

1,284

(55,365)

24,707

(2,164)

22,543

Interest income Interest expense Non-interest revenue Credit impairmentcharges

Operating expenses Profit before taxation Taxes Profit after taxation

Nmillion



NET INTEREST INCOME❖ Interest income declined by 20% to ₦44.2 billion in H1 2021 from ₦55.1 billion

achieved in H1 2020 largely due to the reduction in interest earned on investmentsecurities as the bulk of higher yielding securities matured in December 2020.The reduction in interest income was partly cushioned by the increase in interestearned on loans following growth in customer loans.

❖ Interest expense also declined by 35%, benefiting from the growth in cheapdeposits and deposits repricing done during the period to manage cost of funds,leading to the moderation in cost of funds to 1.5% from 2.8% in H1 2020.

❖ Consequently, net interest income contracted by 12%, resulting in the decline innet interest margin* to 2.7% (H1 2020: 3.2%).

N 'billion

N 'billion

%

41.0 40.2 39.3 37.5 32.9

7.2%

5.9%4.9%

3.2% 2.7%4.8%

6.8%

5.0%

2.6% 2.8%

0.0%

2.0%

4.0%

6.0%

8.0%

-

10.0

20.0

30.0

40.0

50.0

H1 2017 H1 2018 H1 2019 H1 2020 H1 2021

Net interest incomeNet interest margin before impairment chargesNet interest margin after impairment charges

N ‘billion

16.9 16.0

12.6 11.2

6.0

4.1 4.2 4.1 2.8

1.5

7.2 5.9

4.9 3.2

2.7

0

2

4

6

8

10

12

14

16

18

H1 2017 H1 2018 H1 2019 H1 2020 H1 2021

Asset yield Cost of funds Net interest margin

56.7 59.9 60.8 55.1 44.2

-

50.0

100.0

H1 2017 H1 2018 H1 2019 H1 2020 H1 2021

Interest based revenue

15.7 19.8 21.5

17.6 11.4

-

10.0

20.0

30.0

H1 2017 H1 2018 H1 2019 H1 2020 H1 2021

Interest expense

*Net interest margin = Total assets excluding derivative assets

Net interest income



NON-INTEREST REVENUE (NIR)

❖ NIR decreased by 34%resulting fromconsiderable decline intrading revenue. Thedecrease in NIR wascompensated in partby the growth in netfees and commissionarising from YoYgrowth in assets undermanagement, andimproved InvestmentBanking fees.

Break down of fees and commission income

Break down of non-interest income by typeN 'billion

N 'billion

2.6 1.3 4.2

27.2

1.1 1.6 3.4 1.7 0.9 0.8 1.8 1.3 3.9

22.7

1.3 1.3 2.3 1.1 - 0.9 05

1015202530

Accounttransaction fees

Card basedcommission

Brokerage andfinancial advisory

fees

Asset managementfees

Custodytransaction fees

Electronic banking Foreign currencyservice fees

Documentationand administration

fees

Insurancecommission andpremium income

Others

H1 2021 H1 2020

69% 68% 66%50%

90%

30% 30% 32%49%

12%1% 2% 2% 1%

-2%-20%

0%

20%

40%

60%

80%

100%

H1 2017 H1 2018 H1 2019 H1 2020 H1 2021

Net fees and commisions income Trading revenue Other revenue

40.3 53.8 54.9 69.8 45.9

50%57% 58%

65%58%

0%

20%

40%

60%

80%

100%

0

10

20

30

40

50

60

70

H1 2017 H1 2018 H1 2019 H1 2020 H1 2021Non-interest revenue % of total income



INCOME STATEMENT - CREDIT IMPAIRMENT

CLR 2.2% (0.1%)

N ‘millionN ‘million

❖Credit impairment onfinancial assets was apositive outcome of₦1.3bn compared to acharge of ₦6.4bn in H12020.

❖The write-back resultedfrom recoveries onpreviously written-offloans. This moderated theimpact of expected creditloss recognized on newloans booked during theperiod.

❖Credit loss ratio was(0.1%) for H1 2021.

H1 2020

H1 2021

N ‘million

6,404

(1,284)

H1 2020 H1 2021

660 (498)123 1,452

(3,021) (1,284)

-2 000

-1 000

0

1 000

2 000

Stage 1 -Customer

loan &advances

Stage 1 -Others

Stage 2 Stage 3 Recoveries H1 2021

1,623

251

(3,210)

9,362

(2,958)

6,404

-3 000 0

3 0006 0009 000

12 000

Stage 1 -Customer

loan &advances

Stage 1 -Others

Stage 2 Stage 3 Recoveries H1 2021



OPERATING EXPENSES AND TAXATION

❖Operating expenses increased by 14% year-on-year.

❖Staff cost increased by 1% year-on-year due to theinflation adjusted salary increase.

❖The increase in other operating costs arose largelyfrom regulatory induced costs including AMCONand deposit insurance premium. Also, the impact ofcurrency depreciation and the resumption ofbusiness activities led to increased informationtechnology, premises and maintenance costs.

❖Cost savings were recorded from energy efficiencyinitiatives and new way of working.

❖Therefore, the cost-to-income ratio deteriorated to70.3% from 45.2% recorded in H1 2020.

❖Effective tax rate decreased to 8.8% from 13.7% inH1 2020 due to the reversal of excess tax provision.

38,202 48,775 50,069 48,535 55,365

47.0%

51.9%53.2%

45.2%

70.3%

0%

20%

40%

60%

80%

100%

-

10,000

20,000

30,000

40,000

50,000

60,000

H1 2017 H1 2018 H1 2019 H1 2020 H1 2021

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

Nmillion

5,057 7,646 8,405 7,202 2,164

17.3%15.1%

18.8%

13.7% 8.8%

0%

5%

10%

15%

20%

-

2,000

4,000

6,000

8,000

10,000

H1 2017 H1 2018 H1 2019 H1 2020 H1 2021

Taxation Effective tax rate

Nmillion



TOTAL ASSETS

N 'billion

N ‘million

2,427,364

529,623 144,063 152,101

650,958

759,595 152,73138,293

Total Assets Cash and loans tobank

Trading andderivative assets

Pledged assets Financialinvestments

Loans and advancesto customers

Other assets Intangible assets,property andequipment

1,619.3 1,876.5 3,022.3 2,486.3 2,427.4

4.5% 4.2%3.7%

3.8%

1.8%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

0

500

1,000

1,500

2,000

2,500

3,000

3,500

H1 2019 FY 2019 H1 2020 FY 2020 H1 2021

Total Asset Return on assets

28% 24%37%

26% 22%

15%14%

10%

9%7%

4% 13%16%

7%5%

17% 8%

8%

25%27%

28% 28%19% 25% 31%

6% 10% 8% 8% 6%2% 2% 1% 1% 1%

H1 2019 FY 2019 H1 2020 FY 2020 H1 2021

Cash & loans to banks Pledged & derivative assets

Trading assets Financial investments

Loans & advances to customers Other assets

Intangible assets, property & equipment



GROSS LOANS AND ADVANCES

H1 2021LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

Personal & Business Banking 245.7 82.5 328.3 Mortgage 4.9 - 4.9 Instalment sale & finance leases 14.3 14.5 28.8 Overdrafts 37.5 1.8 39.3 Term loans 189.1 66.2 255.4

Corporate & Investment Banking 133.7 328.6 462.3 Instalment sale and finance lease 1.3 - 1.3Overdrafts 11.6 0.0 11.6 Term loans 120.8 328.6 449.5 Total loans 379.4 411.2 790.6 Percentage (%) 48% 52% 100%

FY 2020LCY loans FCY loans Total loans N ‘billion N ‘billion N ‘billion

188.4 52.6 241.0 4.2 - 4.2 9.5 0.4 9.9

27.9 3.1 31.0 146.8 49.1 195.9

149.6 264.7 414.3 1.2 - 1.2

18.2 0.0 18.2 130.2 264.7 394.9 338.0 317.3 655.3

52% 48% 100%

❖PBB and CIB loan books grew by 36%and 12%, respectively.

❖LCY book grew by 12.2% and FCY bookgrew by 29.6%.

❖ The combined gross loans portfoliogrew by 21% as we continue tosupport our clients’ businesses andaspirations.

❖ Loan-to-Deposit Ratio for H1 2021averaged 71.08%.

Gross loans and advances N ’million

479.7 556.4

603.1 655.3

790.6

0

100

200

300

400

500

600

700

800

H1 2019 FY 2019 H1 2020 FY 2020 H1 2021

Nbillion

-

790,615 655,292

638 19,002 1,609 114,075

Gross loans andadvances - FY

2020

Mortgage lending Instalment salesand finance

leases

Overdrafts Term loans Gross loans andadvances - H1

2021



LOAN GROWTH WITH FOCUS ON RESILIENT NON-CYCLICAL SECTORS

LOANS AND ADVANCES BY SECTOR

H1 2021 FY 2020

Agriculture5% Construction and

real estate9%

Consumer loans9% Electricity, Gas &

Water Supply 0.23%

Financial intermedi

aries & insurance

5%

General commerce

10%

Government6%

Manufacturing26%

Oil & gas services

4%

Downstream oil & gas11%

Upstream oil & gas11%

Transportation & communication

4%

Agriculture4%

Construction and real estate

8%

Consumer loans9%

Electricity, Gas & Water Supply

0.4%

Financial intermediaries &

insurance4%

General commerce10%

Government8%

Manufacturing27%

Oil & gas services

5%

Downstream oil & gas10%

Upstream oil & gas11%

Transportation & communication

4%



LOAN PERFORMANCE

H1 2021 FY 2020

Sector% of Total

NPL NPL ratio

(%)% of Total

NPL NPL ratio (%)

Agriculture 16.8% 12.6% 20.4% 15.4%

Construction and real estate 35.4% 14.4% 33.5% 15.4%

Consumer credit 8.4% 2.9% 9.1% 4.1%

General commerce 3.8% 1.2% 4.1% 1.6%

Manufacturing 2.1% 0.3% 2.3% 0.4%

Oil & gas services 4.0% 2.8% 3.5% 3.4%

Oil & gas Downstream 24.6% 7.7% 22.0% 8.1%

Transportation & Communication

4.9% 3.9% 5.1% 4.9%

Grand Total 100% 3.2% 100% 4.0%

H1 2021(₦ ‘million)

% of total NPLs

FY 2020(₦ ‘million)

% of total NPLs

Local currency 20,369 80% 19,579 74%

Foreign currency 5,102 20% 6,914 26%

Total NPLs 25,471 100% 26,492 100%

SectorCovid-19 Related

(₦ ’million)

Non Covid-19 Related

(₦ ’million)Total

(₦’ million)Restructured to Total Loan

Agriculture - 34 34 0.1%

Construction & Real Estate 598 384 982 1.6%

Consumer Loans 1,230 553 1,784 2.4%

General Commerce - 386 386 0.5%

Government - - - -

Manufacturing 4,401 1,423 5,824 2.8%

Oil & Gas Service 737 5,884 6,621 17.8%

Oil & Gas Downstream - 367 367 0.4%

Transport & Communication - 1,060 1,060 3.3%

Grand Total 6,967 10,092 17,059 2.2%

FY 2020 50,972 11,685 62,658 9.6%

Non-Performing Loans Restructured Loans as at H1 2021

18.8 21.6 29.5 26.5 25.5

3.9% 3.9%4.9%

4.0%3.2%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

0

10

20

30

H1 2019 FY 2019 H1 2020 FY 2020 H1 2021

Gross non-performing loans NPL/ total loans

N ‘billion



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 Loan₦’ million

Provision coverage

Gross Loan₦’ million

Provision coverage

Gross Loan₦’ million

Provision coverage

Agriculture 21,006 1.50% 8,701 6.50% 4,290 86.17%

Construction & Real Estate 53,271 1.54% 143 22.03% 9,004 79.92%

Consumer Credit 69,239 1.03% 2,693 9.34% 2,149 73.35%

Electricity, Gas & Water Supply 3,553 0.44% - - - -

Financial Intermediaries & Insurance 29,029 0.51% - - - -

General Commerce 76,076 1.53% 1,766 10.83% 957 76.95%

Government 65,817 0.98% - - - -

Manufacturing 200,071 0.56% 9,437 6.23% 535 78.56%

Oil & Gas Service 35,376 1.74% 834 10.11% 1,026 94.02%

Oil & Gas Downstream 73,357 0.69% 1,575 9.61% 6,273 99.43%

Oil & Gas Upstream 82,649 1.07% - - - -

Transport & Communication 30,523 0.48% 28 22.03% 1,233 97.20%

Grand Total 739,966 0.96% 25,178 7.42% 25,471 86.56%



CUSTOMER DEPOSITS

FY 2020

LCY FCY TotalN ’billion N ‘billion N ‘billion

408.5 161.5 570.1 217.3 136.5 353.8

150.6 - 150.6

16.9 0.8 17.6

23.8 24.2 48.0

167.7 82.2 249.9105.5 69.0 174.5

23.5 1,7 25.138.7 11.6 50.3

576.2 243.7 819.9

70% 30% 100%

❖ Customer deposits increased by17% in H1 2021 from the FY2020 position, driven byincreases across the depositclasses.

❖ Thus, the CASA ratio contractedfrom 82.8% in FY 2020 to 73.4%in H1 2021 due to slowergrowth pace in low-costdeposits as compared to otherdeposit classes.

H1 2021LCY FCY Total

N ’billion N ’billion N ’billion Personal & Business Banking 424.2 191.6 615.9

Current Accounts 234.3 166.5 400.8 Savings Accounts 153.3 - 153.3 Call Deposits 12.1 0.6 12.7

Term Deposits 24.5 24.5 49.0

Corporate & Investment Banking 231.1 111.4 342.5 Current accounts 52.0 97.1 149.1 Call deposits 59.2 1.1 60.2 Term deposits 120.0 13.2 133.2

Total deposits 655.4 303.0 958.4 68% 32% 100%

N ’million

-

819,944 841,574 871,752 874,449 958,370 819,944

21,630 30,178 2,697

Customerdeposits FY

2020

Currentaccounts

Call deposits Savingsaccounts

Term deposits Customerdeposits H1

2021

693.5 637.8 769.3 819.9 958.4

68.9%71.1%

80.4% 82.8%73.4%

0%

20%

40%

60%

80%

100%

0

200

400

600

800

1,000

H1 2019 FY 2019 H1 2020 FY 2020 H1 2021

Customer deposits CASA mix

Nbillion

83,921



CAPITAL AND SHAREHOLDERS’ FUND

N ’billion

23.6%21.9% 23.0% 23.1% 21.8%

27.3%24.6% 26.1% 24.7%

22.5%

0%

5%

10%

15%

20%

25%

30%

H1 2019 FY 2019 H1 2020 FY 2020 H1 2021

Tier 1 capital adequacy Total capital adequacy Statutory minimum

2,536 2,821 3,142 3,341 3,047

1.6 1.5

1.0 1.3

1.3

0.0

0.5

1.0

1.5

2.0

0400800

1,2001,6002,0002,4002,8003,2003,600

H1 2019 FY 2019 H1 2020 FY 2020 H1 2021

Net asset value per share Price- to-book

Kobo Times

247.5 265.9 313.2 333.7 354.7

28.5% 27.3% 28.3%

24.3%

12.1%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

-

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

H1 2019 FY 2019 H1 2020 FY 2020 H1 2021

Shareholders' fund (average) Return on average equity



WEALTH



WEALTH FINANCIAL ANALYSIS – H1 2021

Performance highlightsH1 2021 Change H1 2020

Income statement N’million % N’million

Net interest income 1,658 (26) 2,232

Non-interest revenue 28,238 21 23,366 Total income 29,896 17 25,598

Gain / (loss) on financial assets 32 >(100) (4)

Operating expenses (7,823) 10 (7,123)

Profit before tax 22,105 20 18,471 Profit after tax 15,264 21 12,646

H1 2021 FY 2020Asset under Management (N ’million) 4,754,154 3 4,630,883

Key selected ratios H1 2021 H1 2020Cost to income ratio % 26.2 27.8

Return on Equity % 35.1 44.2

❖ The 17% growth in total income of the Wealthbusiness was supported by the increase in non-interest revenue (NIR).

❖ NIR growth is on account of growth in incentivefees earned from higher investment returns andcontributions that led to the continued growth inassets under management.

❖ Asset under Management grew by 3% year-to-date.

❖ Operating expenses rose by 10% due to increasesin pension administration expenses as well asmarketing and premises expenses following theuptick in business activities. That said, cost-to-income ratio improved to 26.2% from 27.8%recorded in H1 2020 due to faster growth inincome as against costs.



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 deepen future ready capabilities among our workforce for increased productivity.

We will design new products and solutions and leverage customer insights and emerging technology to deliver refined value propositions and experiences for our clients.

We will continue to deepen the level of digitization especially across clients onboarding, redemption, infuse the 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



CORPORATE & INVESTMENT BANKING (CIB)



CIB FINANCIAL ANALYSIS – H1 2021

Performance highlights

H1 2021 Change H1 2020

Income statement N ’million % N ’million

Net interest income 15,887 (22) 20,346

Non-interest revenue 11,734 (71) 40,685

Total income 27,621 (55) 61,031

Credit impairment charges 487 >(100) (3,930)

Operating expenses (21,533) 7 (20,192)

Profit before tax 6,575 (82) 36,908

Profit after tax 9,713 (73) 35,772

Balance sheet H1 2021 FY 2020

Gross loans & advances 462,346 12 414,284

Deposit liabilities 342,511 37 249,884

Key selected ratios H1 2021 H1 2020

Cost to income ratio % 78.0 33.1

CASA ratio % 43.5 61.5

Return on Equity % 10.3 41.0

Credit loss ratio % (0.5) 2.1

NPL/total loan ratio % 3.3 3.4

❖ Net interest income growth was constrained by the continuedpressure on loan yields – despite increase in loan volume –resulting in lower average yield on assets during H1 2021compared to prior year. This was partly cushioned by the decline ininterest expense.

❖ The decrease in non-interest revenue is attributable to thesignificant decline in trading revenue due to low trading activities,as market volumes and foreign portfolio inflows were largelymuted. This was compensated in part by increased advisory feesfrom the Investment Banking space, fees from new loan bookingsand commission on increased trade assets.

❖ Credit impairment charge of the business was a write-back of₦487 million following positive outcome on after write-offrecoveries during the period.

❖ The rise in operating expenses is due to growth in regulatory costsincluding AMCON levy and NDIC premium.

❖ Loan book growth was driven by opportunities to support clientexpansion requirements.

❖ The growth in customer deposits was on account of the stronggrowth in call and term deposits to fund liquidity requirements.



CIB 2021 FOCUS

❖ Grow Asset underCustody whileexploring newcorporate financeopportunities

Lorem IpsumVolume Growth

Lorem IpsumCost Management

21 3 4

Risk Asset Growth

Global Markets

❖ Unlock the tradeopportunities

₦

❖ Improve theCLR/NPL ratio.

❖ Grow a resilientLCY loan book

❖ Develop structuredproducts in theGlobal Marketsspace to targetforeign fixed incomesector clients

❖ Leverage ourstrength in FX

❖ Ensure costefficiency

❖ Optimize depositmix to minimizecost of funds

₦



PERSONAL & BUSINESS BANKING (PBB)



PBB FINANCIAL ANALYSIS – H1 2021

❖PBB’s total income increased by 3% due to growth in bothnet interest income and non-interest revenue.

❖Net interest income increased by 2%, as the decrease ininterest expense more than offset the decrease in interestincome. The business benefited from the decline in interestexpenses following accelerated growth in cheap depositswhich helped reduce the cost of funds.

❖Transactional volumes growth impacted NIR positively.

❖ Provision for credit losses was a net benefit of ₦765 millionas against the ₦2.5 billion charge in H1 2020, on account ofsignificant recoveries and provision releases.

❖The business continued to drive earning assets growthresulting in the 36% year-to-date growth in gross loans andpartly funded by the 8% year-to-date increase in deposits.

Performance highlights

H1 2021 Change H1 2020

Income statement N ’million % N ’million

Net interest income 15,334 2 14,971

Non-interest revenue 5,937 3 5,745

Total income 21,271 3 20,716

Credit impairment charges 765 >100 (2,470)

Operating expenses (26,009) (23) (21,220)

Loss before tax (3,973) (34) (2,974)

Loss after tax (2,434) 24 (3,215)

Balance sheet H1 2021 FY 2020

Gross loans & advances 328,269 36 241,008

Deposit liabilities 615,859 8 570,060

Key selected ratios H1 2021 H1 2020

Cost to income ratio % 122.3 102.4

CASA ratio % 90.0 83.9

Return on Equity % (6.5%) (8.1%)

Credit loss ratio % (0.5) 2.4

NPL/total loan ratio % 3.2 7.7



DIGITAL CHANNELS

54,241,61469,731,427

85,799,528

108,413,176

H1 2018 H1 2019 H1 2020 H1 2021

Digital Transaction Trend Y-o-Y

26%

1,494,384

421,180465,923

836,062

876,684804,470

Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21

Branch Transaction Trend Q-o-Q

46,693,274 39,106,254

48,457,779 49,723,575 52,372,968 56,040,208

Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21

Digital Transaction Trend Q-o-Q

❖ Digital transactions grew by 26% YoY as customers continuedto migrate to our digital platforms rapidly.

❖ Digital transactions accounted for 98% of total transactions asat H1 2021 while just 2% are processed through the branches.

❖ Branch transactions continue to dissipate reflecting theincreasing preference for alternative service platforms.



DIGITAL CHANNEL PERFORMANCE

10,796,764

11,323,141

22,119,905

17,453,818

18,116,197

35,570,015

Q1 2020

Q2 2020

H1 2020

Q1 2021

Q2 2021

H1 2021

USSD Banking

6,819,274

6,723,562

13,542,836

8,942,996

11,629,790

20,572,786

Q1 2020

Q2 2020

H1 2020

Q1 2021

Q2 2021

H1 2021

Mobile Banking

3,777,959

2,921,774

6,699,733

4,172,059

4,406,163

8,578,222

Q1 2020

Q2 2020

H1 2020

Q1 2021

Q2 2021

H1 2021

POS

317,567

301,905

619,472

398,331

441,055

839,386

Q1 2020

Q2 2020

H1 2020

Q1 2021

Q2 2021

H1 2021

SME Internet Banking

14,667,839

9,834,215

24,502,054

13,988,431

13,834,575

27,823,006

Q1 2020

Q2 2020

H1 2020

Q1 2021

Q2 2021

H1 2021

ATM

31,030

13,225

44,255

8,621

11,123

19,744

Q1 2020

Q2 2020

H1 2020

Q1 2021

Q2 2021

H1 2021

BNA

61%52%

28%

36% 14%



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



GUIDANCE



2021 Initial Guidance H1 2021 Actual

2021 Updated Guidance

AuM Growth 15% - 20% +3% 15% - 20%

Return on Equity 20% - 25% 12.1% 15% - 20%*

Cost to Income <55% 70.3% 55% - 60%*

Net Interest Margin 3% - 4% 2.7% 3% - 4%

Cost of Risk < 3% (0.1%) <1.5%*

CASA Ratio >75% 73% >75%

NPL Ratio <5% 3.2% <5%

Deposit Growth 15% - 20% 17% 15% - 20%

Net Loan Growth 20% - 25% 22% 20% - 25%

FY 2021 GUIDANCE VS H1 2021 ACTUAL

* Revised guidance



BUSINESS TRANSFORMATION



Global

Markets

Client

Coverage

MM

Relationship

Banking

Direct

Banking

Personal and

Business Banking

Asset

Management

Life

Insurance

Insurance

Brokerage

Pensions

Trustee

Services

Investment

Banking

TPS

FUTURE READY TRANSFORMATION PROGRAMME

SBG Platform



FORCES TRANSFORMING FINANCIAL SERVICESWHY PLATFORM BUSINESS

❖ The environment in which we operate is evolving, driving the need to evolve focus areas and accelerate our delivery to clients.

❖ This all means we need to serve our clients in a new way. We have to be where our customers are – on the digital platforms where they are shopping, socialising, hanging out and doing business.

2. REGULATORY & LEGAL CHANGES• New regulations

- Basel 4- Depositor insurance- Open banking- Debt forgiveness- Margin caps

• Legal challenges

Environmental and social threats

Technological advancement

Economy

Regulatory environment

Competitive landscape

Political and geopolitical shifts

1.DATA & TECHNOLOGY INNOVATION• Technology advancement

- Digitisation of firms, sectors and economies

- Data, automation, IoT & Blockchain- Artificial intelligence & cloud

• Rise of BigTech and FinTech

3. SOCIOPOLITICAL & MACRO SHIFTS• Rise of corporates in society; shared value• Sustainability & climate change• Political volatility• Populism & protectionism• Skills shortage



QUESTIONS



APPENDIX



Stanbic IBTC Trustees Limited

Stanbic IBTC Nominees Limited

Stanbic IBTCVentures Limited

Stanbic IBTC Financial Services Limited

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 Limited

Stanbic IBTC Insurance Limited

Stanbic IBTC Asset Management Limited

Stanbic IBTC Capital Limited

Stanbic IBTC Stockbrokers Limited

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

2020

Standard Bank increased its stake in Stanbic IBTC to 67.02%

ABOUT STANBIC IBTC HOLDINGS PLC



Group income statementGROUP INCOME STATEMENT

Change %

H1 2021₦’million

H1 2020₦’million

FY 2020₦’million

Gross earnings (26) 93,592 126,570 234,446

Net interest income (12) 32,879 37,549 74,215 Interest income (20) 44,229 55,130 105,776 Interest expense (35) (11,350) (17,581) (31,561)

Non-interest revenue (34) 45,909 69,796 124,709 Net fees and commission revenue 18 41,340 35,053 71,190

Fees and commission revenue 22 44,794 36,697 75,151 Fees and commission expense >100 (3,454) (1,644) (3,961)

Trading revenue (84) 5,473 34,260 52,110 Other revenue (>100) (904) 483 1,409

Total income (27) 78,788 107,345 198,924 Net impairment write-back/(loss) on financial assets (>100) 1,284 (6,404) (9,935)

Income after credit impairment charges (21) 80,072 100,941 188,989 Operating expenses 14 (55,365) (48,535) (94,272)Staff costs 1 (20,200) (19,907) (42,143)Other operating expenses 23 (35,165) (28,628) (52,129)

Profit before tax (53) 24,707 52,406 94,717 Direct tax (70) (2,164) (7,202) (11,506)Profit for the period (50) 22,543 45,204 83,211



Group quarterly income statement GROUP QUARTERLY INCOME STATEMENT

QoQ Group Group Group Change Q2 2021 Q1 2021 H1 2021

% ₦million ₦million ₦million

Gross earnings 5 47,866 45,726 93,592 Net interest income 7 17,019 15,860 32,879

Interest income 10 23,215 21,014 44,229 Interest expense 20 (6,196) (5,154) (11,350)

45,909 Non-interest revenue (1) 22,826 23,083 45,909 Net fee and commission revenue (1) 20,528 20,812 41,340

Fee and commission revenue (0) 22,353 22,441 44,794 Fee and commission expense 12 (1,825) (1,629) (3,454)

Trading revenue (30) 2,250 3,223 5,473 Other revenue (105) 48 (952) (904)

Total income 2 39,845 38,943 78,788 Net impairment write-back/(loss) on financial assets >100 1,129 155 1,284 Income after credit impairment charges 5 40,974 39,098 80,072 Operating expenses 5 (28,409) (26,956) (55,365)

Staff costs 13 (10,720) (9,480) (20,200)Other operating expenses 1 (17,689) (17,476) (35,165)

-Profit before taxation 3 12,565 12,142 24,707 Taxation 44 (1,278) (886) (2,164)

Profit for the period 0 11,287 11,256 22,543



GROUP STATEMENT OF FINANCIAL POSITION

YTD Change%

H1 2021N ’million

FY 2020N ’million

YTD Change

% H1 2021₦million

FY 2020₦million

Assets

Cash and cash equivalents (17) 521,401 627,111

Pledged assets (11) 152,101 170,578

Trading assets (30) 119,219 169,655

Derivative assets (46) 24,844 46,233

Financial investments 6 650,958 612,276

Loans and advances 21 767,817 632,967

Loans and advances to banks 5 8,222 7,828

Loans and advances to customers 22 759,595 625,139

Other assets (20) 140,081 175,980

Property and equipment (0) 30,645 30,728

Intangible assets (6) 4,377 4,640

Right of use assets 10 3,271 2,975

Deferred tax assets (4) 12,650 13,163

Total assets (2) 2,427,364 2,486,306

Equity and liabilities

Equity (8) 346,441 378,601

Equity attributable to ordinary shareholders (9) 338,430 371,023 Ordinary share capital - 5,553 5,553 Ordinary share premium - 102,780 102,780 Reserves (12) 230,097 262,690 Non-controlling interest 6 8,011 7,578

Liabilities(1) 2,080,923 2,107,705

Trading liabilities (15) 160,550 188,500 Derivative liabilities (64) 13,571 37,382 Current tax liabilities (55) 9,147 20,270 Deposit and current accounts 2 1,350,926 1,325,566 Deposits from banks (22) 392,556 505,622

Deposits from customers 17 958,370 819,944

Other borrowings (13) 97,420 112,031 Debts securities issued 6 72,128 68,269 Provisions (6) 8,780 9,354

Other liabilities 6 368,401 346,333

Total equity and liabilities (2) 2,427,364 2,486,306



OUR SOCIAL, ECONOMIC AND ENVIRONMENTAL IMPACT IN H1 2021THROUGH THE LENS OF OUR SUSTAINABILITY PILLARS

Efficient waste management

❖ Installed waste segregation bins across our Head Officelocations to help sort waste at source

❖ Recycled 5.4 tonnes of waste papers in H1 2021

BUILDING ENVIRONMENTAL RESILIENCE1

Energy management to reduce carbon emissions and reduceenergy consumption

❖ Installed solar energy solutions in 34 (18%) of our officelocations so far, as at June 2021

❖ Onboarded over 97 ATMs (12% of total) across 39 locationson solar energy solutions so far, as at June 2021

ENHANCING SOCIAL RELATIONSHIPS2

Empowering communities through sustainable finance andinvestment solutions and community programs

❖ Invested ₦102.0 million on Corporate Social Investments and₦1.2 billion on donations / grants during H1 2021

❖ Modified 95 office locations and 47 ATM locations foraccessibility to the physically challenged as at June 2021

Employee engagement and well-being

❖ Continued to conduct health sessions and roadshowsacross the Group to educate staff on healthy living



EXPANDING BUSINESS MODEL AND INNOVATION3

Finance and investment in clean energy technology

Approved ₦7.9 billion credit for solar energy related solutions

Made ₦14.4 billion investment in SEE impact areas – Infrastructuredevelopment, Health, Climate Change/environmental sustainability

Environmental and social (E&S) risk management in lending

Screened 100% of our commercial lending applications for E&Srisk during the period

Sustainability driven supply chain

Organized a webinar tagged ‘Understanding Sustainability and What itMeans for Your Business’ to further drive sustainability awarenessamongst our vendors

Financial inclusion solutions and gender-based offerings

Launched a women specific financial product – Blue BlossomAccount to the market.

Opened 80,330 @ease accounts during H1 2021

STRENGTHENING LEADERSHIP FOR SUSTAINABILITY GOVERNANCE4

Embedding sustainability considerations in applicable processes andpolicies

Constituted the Sustainability Steering Committee to furtherintegrate sustainability into our strategy and operations

Organized internal sustainability training sessions for staff members(233 participants in H1 2021)

Reporting of sustainability activities

Published our 2020 annual sustainability report detailing ouroverall alignment with the above principles during the period

Adopting international sustainability reporting framework

Aligned our sustainability policies and practices to the NigeriaSustainable Banking Principles; Nigerian Sustainable Finance Principlesand the Principles of Responsible Banking

Proactive compliance approaches to applicable frameworks andregulations

Continued to maintain good corporate governance practices

OUR SOCIAL, ECONOMIC AND ENVIRONMENTAL IMPACT IN H1 2021THROUGH THE LENS OF OUR SUSTAINABILITY PILLARS



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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.

© 2021 Standard Bank Group / Stanbic IBTC Holding PLC. All rights reserved.

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