FCMB Group Plc

FCMB Group Plc

Q3 2013 Investors & Analysts Presentation 31 October 2013
This document contains certain forward-looking statements, including statements regarding or related to events and business
trends that may affect our future operating results, financial position and cash flows.

These statements are based on our assumptions and projections and are subject to risks and uncertainties, as they involve
judgments with respect to, among other things, future economic, and industry/ market conditions and future business
decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. You can
identify these forward looking statements by the use of the words "strategy," "plan, "goal," "target," "estimate, project,
"intend," "believe," "will" and "expect" and similar expressions. You can also identify these forward-looking statements by the
fact that they do not relate strictly to historical or current facts.

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may
be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such
statements.

Accordingly, readers should not place undue reliance on forward-looking statements.

Disclaimer
2
3
BBG Business Banking Group
CAGR Compound Annual Growth Rate
CAPEX Capital Expenditure
CAR Capital Adequacy Ratio
CBG Commercial Banking Group
CDL Credit Direct Limited
CIR Cost to Income Ratio
COT Commission on Turnover
CRR Cash Reserve Ratio
FMCG Fast Moving Consumer Goods
FY Full Year
IBG Investment Banking Group
IFRS International Financial Reporting Standards
IOC International Oil & Gas Company
KPI Key Performance Indicators
LCDM Low Cost Deposit Mix
LDR Loan to Deposit Ratio
M&A Mergers & Acquisitions
N/A Not Applicable/ Not Available
NIM Net Interest Margin
NPL Non Performing Loan
NRFF Net Revenue from Funds
NSE Nigerian Stock Exchange
OH Overheads
OPEX Operating Expenditure
PAT Profit After Tax
P&L Profit and Loss
PBT Profit Before Tax
QoQ Quarter-on-Quarter
ROA Return on Assets
ROE Return on Equity
SME Small & Medium Enterprises
YE Year End
YoY Year-on-Year
Glossary
4
Introduction to FCMB Group Plc Mr. Peter Obaseki (Managing Director, FCMB Group Plc)
Group Performance Review
Risk Management Review
Investment Banking Group: Business Review
Commercial Banking Group: Business Review
Outlook to YE 2013
5
FCMB Group Plc Structure
FCMB (UK) Ltd
FCMB Group
Plc
1
FCMB Capital
Markets Ltd

Credit Direct Ltd

First City Asset
Management
Ltd
FCMB Plc
CSL
Stockbrokers Ltd
CSL Trustees
Ltd
Arab Gambia
Islamic Bank Ltd
2
Commercial Banking Group
[CBG]
Investment Banking Group [IBG]
100% 100%
100%
Notes:
1. Excludes Held for Sale assets
2. To be disposed of.
6
Corporate Information
Name FCMB Group Plc
Office address 44 Marina Street, Lagos
Ticker symbol FCMB
No of shares 19,802,710,781
No of shareholders 529,045
1

Shareholders funds
N130.89 billion
2
N144.77 billion
3
Board
Chairman - Dr. Jonathan Long
Other Board members Mr. Ladi Balogun, Mr. Bismarck
Rewane, Mr. Segun Odubogun, Mr. Tola Mobolurin, Mr. Tope
Lawani, Mr. Martin Dirks (Alternate), Alhaji Mustapha Damcida
and Mr. Peter Obaseki (Managing Director)
Managing Director Mr. Peter Obaseki
Chief Financial Officer Mr. Patrick Iyamabo
Regulators
Central Bank of Nigeria (CBN)
Securities and Exchange Commission (SEC)
Nigerian Stock Exchange (NSE)
1. Based on number of shareholders as at 24 October 2013
2. Based on shareholders funds per 2012 audited accounts
3. Based on shareholders funds @ 30 September 2013
7
Management Team of Operating Companies
Name Position
Ladi Balogun
Group Managing Director/ Chief
Executive Officer (CEO)
Segun Odusanya Deputy Managing Director
Yemisi Edun Chief Financial Officer
Bayo Sanni Chief Risk Officer
Femi Bakre
Executive Director (ED) - Lagos &
South West Nigeria
Adam Nuru ED - Abuja & North Nigeria
Nath Ude
ED Service Management &
Technology
Okey Ezeala
Regional Head, South-South &
South-East Nigeria
Ola Olabinjo
Senior Vice-President (SVP) &
Head, Corporate Banking
Olu Akanmu

SVP & Head, Retail Banking
Gerald Ikem Head, Treasury & Financial Markets
Rolayo Akhigbe Head, Transaction Banking
Name Position
Gboyega Balogun Managing Director
Name Position
Tolu Osinibi Executive Director
Name Position
Akinwande Ademosu Managing Director
First City Monument Bank Ltd
CSL Stockbrokers Ltd
FCMB Capital Markets Ltd
Credit Direct Ltd
Name Position
Sirajo Salisu Managing Director
Kingsley Okolie Executive Director
Name Position
Frank Le Roex Chief Executive Officer
BC Achary Executive Director
FCMB (UK) Ltd
Arab Gambia Islamic Bank Ltd
8
Introduction to FCMB Group Plc
Group Performance Review Mr. Patrick Iyamabo (Chief Financial Officer, FCMB Group Plc)
Risk Management Review
Investment Banking Group: Business Review
Commercial Banking Group: Business Review
Outlook to YE 2013
Key Performance Indices (FCMB Group Plc):
Notes:
1. The Central Bank of Nigeria requires each Bank, with international authorisation, to hold minimum regulatory capital of N50 billion and maintain Capital
Adequacy Ratio of 15%.
9
Performance Index 3Q12 1Q13 2Q13 3Q13

% YoY % QoQ 9M12 9M13 % YoY
Operating
Return on Av. Equity
12.3% 12.5% 14.9% 10.1% (17.9%) (32.2%) 11.3% 12.3% 8.9%
Return on Av. Assets
2.0% 1.9% 2.2% 1.5% (25.0%) (31.8%) 1.9% 1.8% (5.3%)
Loan/Deposit Ratio 59.0% 50.6% 64.8% 63.6% 7.8% (1.8%) 59.0% 63.6% 7.8%
Cost/Income Ratio 70.4% 72.8% 67.3% 73.8% 4.8% 9.6% 75.6% 71.2% (5.8%)
Net Interest Margin 7.6% 8.2% 8.4% 8.1% 5.5% (4.0%) 7.1% 7.8% 9.3%
NPL/Total Loans 4.9% 3.3% 3.6% 2.7% (44.9%) (25.0%) 5.0% 2.7% (45.7%)
Coverage Ratio 111.0% 70.8% 65.8% 55.2% (50.3%) (16.1%) 111.0% 55.2% (50.3%)
NII/Operating Income 32.2% 31.9% 36.0% 31.3% (2.7%) (13.0%) 34.5% 33.2% (4.0%)
Capital &
Liquidity
Capital Adequacy
Ratio
22.0% 27.2% 21.0% 22.8%
Minimum statutory
requirement: 15%
1

21.7% 22.8%
Minimum
statutory
requirement:
15%
1

Liquidity Ratio

56.1% 49.0% 49.3% 50.8%
Minimum regulatory
requirement: 30%
56.1% 50.8%
Minimum
regulatory
requirement:
30%
Others
Opex (NB) 13.4 14.0 14.5 15.3 14.3% 5.5% 39.8 43.8 10.0%
Risk Assets (net)
(NB)
363.2 329.0 389.2 439.4 21.0% 12.9% 363.2 439.4 21.0%
Customer Deposits
(NB)
615.3 628.4 600.4 690.6 12.2% 15.0% 615.3 690.6 12.2%
Nm 3Q12 1Q13 2Q13 3Q13
%
9M12 9M13
%
YoY
YoY QoQ
Revenue 30,830 31,414 31,880 33,333 8% 5% 84,737 96,628 14%
Interest Income 24,042 25,090 23,892 26,508 10% 11% 66,347 75,490 14%
Interest Expense (11,650) (11,979) (10,129) (12,258) 5% 21% (31,822) (34,365) 8%
Net Interest Income 12,392 13,111 13,763 14,250 15% 4% 34,525 41,125 19%

Non Interest Income 6,502 6,156 7,732 6,479 0% (16%) 18,200 20,367 12%
- Net Fees &
Commissions
4,587 3,461 4,795 3,616 (21%) (25%) 12,925 11,872 (8%)
- Trading Income 1,188 919 1,205 2,120 78% 76% 3,672 4,244 16%
- Others 727 1,776 1,732 743 2% (57%) 1,603 4,251 165%
Operating Income 18,894 19,267 21,495 20,729 10% (4%) 52,724 61,492 17%

Operating Expenses (13,393) (14,006) (14,486) (15,304) 14% 6% (39,833) (43,797) 10%

Impairment charge
for losses/ recoveries
(1,280) (411) (1,219) (1,379) 8% 13% (704) (3,009) 327%
Net gains/(losses)
from fin. instruments
at fair value
128 (18) 25 22 (83%) (12%) (40) 29 172%
PBT 4,349 4,832 5,815 4,068 (6%) (30%) 12,148 14,715 21%
Income Statement (FCMB Group Plc):
Highlights
10
N'm 3Q 12 4Q12 1Q13 2Q13 3Q13 % YoY % QoQ
Cash & Balances with
CBN
73,649 88,806 80,600 76,418 115,531 57% 51%
Loans and advances to
banks
126,389 92,537 64,636 72,050 112,895 -11% 57%
Loans and advances 363,163 357,799 329,038 389,224 439,382 21% 13%
Non Pledged trading
Assets
4,052 1,170 7,732 5,068 6,576 62% 30%
Investments 237,526 244,993 302,139 266,916 168,870 -29% -37%
Assets pledged as
collateral
26,079 40,794 31,070 39,280 55,594 113% 42%
Intangible assets 18,833 11,895 11,848 12,031 12,035 -36% 0%
Deferred tax assets 4,102 4,938 4,938 4,938 4,886 19% -1%
Other assets 15,076 39,284 36,795 30,450 36,600 143% 20%
Fixed assets 28,520 26,330 26,407 26,753 26,280 -8% -2%
Total Assets 897,389 908,546 895,203 923,128 978,649 9% 6%
LIABILITIES:
Customer deposits 615,316 646,217 628,369 600,426 690,635 12% 15%
Deposits from banks - 52 21521 80,361 3,286 n/a -96%
Other liabilities 126,335 103,329 84,710 75,305 106,860 -15% 42%
Borrowings 25,093 26,933 24,321 25,634 33,103 32% 29%
Shareholders' funds 130,645 132,015 136,282 141,402 144,765 11% 2%
Liabilities and
Shareholder Equity
897,389 908,546 895,203 923,128 978,649 9% 6%

Acceptances &
Guarantees
164,406 121,081 144,042 144,892 138,826 -16% -4%
Balance Sheet (FCMB Group Plc):
Highlights
11
12
Earnings Distribution
Nm 3Q12 1Q13 2Q13 3Q13 % YoY % QoQ 9M 13
Commercial Banking Group

FCMB Ltd 2,661 3,451 4,353 2,962 11% (32%) 10,766
CDL 869 1,291 1,212 1,243 43% 3% 3,746
FCMB UK (57) (23) (22) (15) 74% 34% (60)
Arab Gambia Islamic Bank (4) (15) (16) (26) (539%) (60%) (57)
Investment Banking Group


FCMB CM (3) 43 280 10 431% (96%) 333
CSL Stockbrokers 33 43 51 2 (95%) (97%) 96

Holding Company 0 0 (1) (109) n/a n/a (110)
Held for sale/ Disposed of
subsidiaries



City Securities Registrars 37 0 0 n/a n/a n/a n/a
FinHomes 838 n/a n/a n/a n/a n/a n/a
FinBank Insurance Co. Ltd (16) n/a n/a
n/a
n/a n/a n/a
FinBank Insurance Brokers Ltd (29) n/a n/a
n/a
n/a n/a n/a
FinBank Registrars (6) n/a n/a n/a n/a n/a n/a
FinBank Sec. & Asset Mgmt 17 33 (33)
n/a
n/a n/a n/a
FinBank Capital 9 9 (9) n/a n/a n/a n/a
FCMB Group Plc 4,349 4,832 5,815 4,068 (6%) (30%) 14,715
13
Introduction to FCMB Group Plc
Group Performance Review
Risk Management Review
Investment Banking Group: Business Review
Commercial Banking Group: Business Review Mr. Ladi Balogun (GMD/ CEO, FCMB Ltd)
Outlook to YE 2013
Key Performance Indices (CBG):
14
Performance Index 3Q12 1Q13 2Q13 3Q13


%
YoY
%
QoQ
9M12 9M13
%
YoY
Operating
Return on Av. Equity
12.3% 12.5% 14.9% 11.0% (10.6%) (26.2%) 11.3% 12.8% 13.3%
Return on Av. Assets
2.0% 1.9% 2.1% 1.5% (25.0%) (28.6%) 1.9% 1.8% (5.3%)
Loan/Deposit Ratio 59.0% 50.6% 64.8% 63.6% 7.8% (1.9%) 59.0% 63.6% 7.7%
Cost/Income Ratio 70.4% 72.8% 67.7% 72.8% 3.4% 7.6% 75.6% 71.1% (6.0%)
Net Interest Margin 7.6% 8.2% 8.4% 8.0% 5.1% (4.5%) 7.1% 7.8% 9.3%
NPL/Total Loans 4.9% 3.3% 3.6% 2.7% (44.9%) (25.0%) 5.0% 2.7% (45.7%)
Coverage Ratio 111.0% 70.8% 53.9% 55.2% (50.3%) 2.4% 111.0% 55.2% (50.3%)
NII/Operating Income 32.2% 31.9% 33.7% 30.3% (5.8%) (10.0%) 31.8% 32.0% 0.4%
Capital &
Liquidity
Capital Adequacy Ratio 22.0% 27.2% 21.0% 21.3% (3.3%) 1.3% 21.7% 21.3% (2.0%)
Liquidity Ratio

56.1% 49.0% 49.3% 50.8% (9.5%) 3.0% 56.1% 50.8% (9.5%)
Others
Opex (NB) 13.4 14.0 13.9 14.8 10.7% 6.6% 39.8 42.7 7.3%
Risk Assets (net) (NB) 363.2 329.0 389.2 439.2 20.9% 12.8% 363.2 439.2 20.9%
Customer Deposits
(NB)
615.3 628.4 600.4 690.7 12.3% 15.0% 615.3 690.7 12.3%
Income Statement (CBG):
Highlights
15
Nm 3Q12 1Q13 2Q13 3Q13
%
9M12 9M13

%
YoY QoQ YoY
Revenue 30,830 31,414 30,896 32,983 7% 7% 84,737 95,293 12%
Interest Income 24,041 25,090 23,753 26,479 10% 11% 66,347 75,323 14%
Interest Expense (11,650) (11,979) (10,129) (12,294) 6% 21% (31,822) (34,401) 8%
Net Interest Income 12,391 13,112 13,625 14,186 14% 4% 34,525 40,922 19%

Non Interest Income
- Net Fees & Commissions 4,587 3,461 3,955 3,437 (25%) (13%) 12,925 10,853 (16%)
- Trading Income 1,188 919 1,206 2,010 69% 67% 3,672 4,135 13%
- Others 727 1,759 1,750 732 1% (58%) 1,603 4,240 164%
Operating Income 18,893 19,250 20,536 20,364 8% (1%) 52,724 60,149 14%
Operating Expenses (13,393) (14,006) (13,910) (14,828) 11% 7% (39,833) (42,745) 7%
Impairment charge for losses
/recoveries
(1280) (411) (1,226) (1,371) 7% 12% (704) (3,009) 327%
Net gains/(losses) from fin.
instruments at fair value
128 0 0 0 (100%) n/a (40) 0 (100%)
PBT 4,349 4,832 5,399 4,165 (4%) (23%) 12,148 14,396 19%
Balance Sheet (CBG):
Highlights
16
N'm 3Q 12 4Q12 1Q13 2Q13 3Q13 % YoY % QoQ
Cash & Balances with CBN
73,649 88,806 80,600 76,417 115,531 57% 51%
Loans and advances to banks
126,389 92,537 64,636 70,338 111,037 -12% 58%
Loans and advances
363,163 357,799 329,038 388,999 439,156 21% 13%
Non Pledged trading Assets
4,052 1,170 7,732 4,759 6,161 52% 29%
Investments
237,526 244,993 302,139 263,231 165,092 -30% -37%
Assets pledged as collateral
26,079 40,794 31,070 39,280 55,594 113% 42%
Intangible assets
1

18,833 11,895 11,848 6,422 6,427 -66% 0%
Deferred tax assets
4,102 4,938 4,938 4,758 4,758 16% 0%
Other assets
15,076 39,284 36,795 25,729 32,333 114% 26%
Fixed assets
28,520 26,330 26,407 26,686 26,200 -8% -2%
Total Assets
897,389 908,546 895,203 906,619 962,289 7% 6%
LIABILITIES:

Customer deposits
615,316 646,217 628,369 600,426 690,715 12% 15%
Deposits from banks
0 52 21,521 80,361 3,286 n/a -96%
Other liabilities
126,335 103,329 84,710 73,730 105,275 -17% 43%
Borrowings
25,093 26,933 24,321 25,633 33,102 32% 29%
Shareholders' funds
2

130,645 132,015 136,282 126,469 129,911 -1% 3%
Liabilities and Shareholder Equity
897,389 908,546 895,203 906,619 962,289 7% 6%


Acceptances & Guarantees
164,406 121,081 144,042 144,892 138,826 -16% -4%
Notes:
1. Intangible Assets dropped in 2Q13 due to goodwill on CSLS transferred to the holding company.
2. Drop in Shareholders Funds in 2Q13 due to transfer of Assets from Bank to Holding company.
314.3
353.9
366.4
374.7
414.5
52.8
55.6
56.0
62.0
62.1
248.2
236.7 205.9
163.8
214.1
3Q12 4Q12 1Q13 2Q13 3Q13
Deposit Mix Analysis
Current Savings Fixed
615.3
646.2
628.4
600.4
690.7
Current and Savings Account Growth:
30% YoY & 9% QoQ
Low
cost
69%
High
cost
31%

Funding was improved in
3Q13, across both low cost
and fixed deposit sources.
Amounts were used to
finance transactions, as well
as provide additional stop-
gap against CBNs CRR
debit.
Comments
17
18
45.6
68.0
78.44
42.1
50.7
55.09
255.9
254.7
275.16
40.7
25.1
37.12
3Q12 2Q13 3Q13
Personal Banking Business Banking
Corporate Banking Institutional Banking
Loan Distribution by Business Segment
The loan book further grew in
the quarter by 2.7%,
particularly in Power,
Individual, Government, Oil
and Gas Upstream and
Telecomms sectors.

Personal banking loan growth
rate of 15.3% for the quarter is
sustainable for future quarters
and will have a positive impact
on asset yields and interest
margins.

QoQ growth in Institutional
banking came from public
sector loans.
Comments
384.3
398.5
445.8
L
o
a
n
s

p
e
r

s
e
g
m
e
n
t

(
N

b
n
)


% %
YoY QoQ
Personal 71.9% 15.3%
Business 30.8% 8.7%
Corporate 7.5% 8.0%
Institutional (8.8%) 48.0%
3,345
2,913 2,829
6,025
8,749
6,425
7,319
2,132
2,059
2,188
332
732
3Q12 2Q13 3Q13
Personal Banking Business Banking
Corporate Banking Institutional Banking
NPL Distribution by Business Segment
N
P
L
s

p
e
r

s
e
g
m
e
n
t

(
N

m
)

18,876
14,126
12,045

%
YoY
%
QoQ
Personal (15.4%) (2.9%)
Business 6.7% (26.6%)
Corporate (71.9%) (3.4%)
Institutional (66.6%) 120.4%
Total (36.2%) (14.7%)
19
6,190
6,225 6,637
1,482
801 801
5,721
6,885 7,390
3Q12 2Q13 3Q13
Personnel Dep. & Amort. Other Expenses
13,393 13,910 14,828
Opex Distribution by Expense Line
Expense Line
%
YoY
%
QoQ
Personnel
expenses
7.2% 6.6%
Depreciation &
amortisation
expenses
(46.0%) 0.0%
Other expenses 29.2% 7.3%
Total 10.7% 6.6%
20
3,678.0
6,345.3
6,622.0
4,366.4
4,179.4
4,768.3
5,207.3
4,057.0
5,024.2
3,146.2
3,011.8
2,498.6 2,494.8
2,933.0
1,451.6
3Q12 2Q13 3Q13
Personal Banking Business Banking
Corporate & Commercial Banking Institutional Banking
Treasury & Financial Markets
Revenue Distribution by Business Segment
R
e
v
e
n
u
e

d
i
s
t
r
i
b
u
t
i
o
n

b
y

s
e
g
m
e
n
t

(
N

m
)

18,892.7
20,535.6
20,364.7
21

%
YoY
%
QoQ
3Q13 %
DISTR.
Personal 80.0% 4.2% 32.5%
Business 9.2% 14.1% 23.4%
Corporate (3.5%) 23.8% 24.7%
Institutional (20.6%) (17.0%) 12.3%
Treasury &
Financial
Markets
(41.8%) (50.5%) 7.1%
Total Gross
Revenue
7.8% (0.8%) 100.0%
The QoQ and YoY decline in revenue
from Institutional banking was due to the
revised cash reserve requirements.
Comments
22
Other Highlights:
Personal Banking:
Average monthly acquisition of 59,308 a/cs in 3Q13, against 36,303 a/cs monthly in 2Q13; Acquired 63,110
accounts in August (first time over 60,000 accounts);
Average monthly disbursement of 20,029 loans in 3Q12 (peak of 23,528 loans in Sept);
4% increase in operating income, from N6.35 billion in 2Q13 to N6.62 billion in 3Q13;
Loan book size crossed 235,000 loan customers in September 2013;
N4.6 billion growth in low-cost deposits in 3Q13;
Outlook for 4Q13:
Sustained asset momentum to close the year at > N80bn;
Continued growth in non interest income on the back of strong insurance and risk asset fees;
Increased focus on branch productivity should continue to drive low cost deposits volumes.

Business Banking:
Account acquisition rate improved 67% in Q3 compared to 1Q13 and by 39% compared to 2Q13. Twenty-
two clusters, activated in 3Q13, contributed to increased rate of account acquisition;
FCMB Online (Business Version) successfully launched in September;
Non COT current account products being developed to replace existing products in anticipation of
withdrawal of COT;
Achieved monthly account acquisition of about 2,400 with target of 3,000 accounts monthly by year end;
Net revenue growth of 26.7% and 27.0% from 1Q13 and 2Q13, respectively. Momentum to be improved
through better positioning the business around SMEs
Business Banking
23
Corporate Banking:
Some key accomplishments in 3Q13 included:
Bilateral sign-up of four Telecomms and Power companies;
Re-financed oil-rig acquisition (US$50m);
Loan Syndication (US$65m) to three major Telecomms and Power companies;
Participated in loan syndication (US40m) to acquire three privatised power assets;
Improved wallet share of corporate clients; introduced distributor finance offerings as well as e-cash
management solutions to mobilise low cost deposits and improve LDR;
Tighter loan underwriting criteria and portfolio monitoring, resulted in declining NPL and cost of risks,
currently at 0.7% and 0.2%, respectively.

Outlook to YE 2013:
Aggressive deployment of electronic cash management solutions and trading propositions.
Effectively executed, will boost non-interest income and improve NIM (low cost funds mobilisation).
Other Highlights (continued)
Institutional Banking:
Deposit growth of ~8% QoQ, and expected to be sustained in 4Q13;
Non-interest income growth of ~15% QoQ, from N433m in 2Q13 to N525m in 3Q13. Growth
expected to be sustained in 4Q13 with cash management propositions, payroll offerings and
increased focus on contractor segment;
Cost of funds in the segment continues to decline; dropped ~50BPS (or 20%) over 2Q13;
Operating expenses continues to drop - N1.1bn in 1Q13 vs. N0.93bn in 3Q13. Expected to further
drop in 4Q13 due to efficiency gains.
24
Introduction to FCMB Group Plc
Group Performance Review
Risk Management Review
Investment Banking Group: Business Review Mr. Tolu Osinibi (ED, FCMB Capital Markets Ltd)
Commercial Banking Group: Business Review
Outlook to YE 2013
25
Investment Banking Group Review
Investment Banking Group (IBG) comprises of FCMB Capital Markets Ltd. and CSL
Stockbrokers Ltd.
Investment Banking
Group
3Q12 1Q13 2Q13 3Q13 % YoY % QoQ
Nm
Gross earnings 364 381 605 357 -2% -41%

Net Interest Income

73 70 69 64 -11% -6%
Non Interest Income 291 311 536 293 1% -45%
Operating Income 364 381 605 357 -2% -41%
Expenses (266) (276) (299) (367) 38% 23%
Net Impairment Charges (25) (18) 25 22 -188% -13%
PBT 73 86 331 12 -84% -96%
CIR 80% 77% 45% 97% 21% 114%
26
Overview of Investment Banking Group
Investment Banking Group:
Appointed co-lead manager for the planned IPO and listing on the London Stock Exchange (LSE) and
Nigerian Stock Exchange (NSE) of a leading Nigerian upstream oil & gas company. Post the IPO, the firm
will rank amongst the most capitalised companies on the NSE;
Financial adviser to a shortlisted bidder for OMLs 52, 53 and 55;
Joint issuing house to the first Islamic bond issued in Nigeria, the N10 billion Sukuk bond for the State of
Osun;
Co-arranger for a US$120 million debt finance facility for the acquisition of a power-generating company;
Maintained position of 3
rd
largest broker, in terms of volumes traded ;
Mandated as broker to issue on four capital raising deals;
Renewed corporate broking mandate for one of the largest listed consumer names.

Outlook to Year-End (YE) 2013:
Capital raising: In excess of 20 ongoing capital raising transactions with an aggregate value of about
N588bn
Equity Capital Markets N55bn
Debt Capital Markets N110bn
Project & Structured Finance N423bn

We estimate transactions with aggregate global value of N200bn, should close by YE 2013, resulting in
stronger H2 pre-tax earnings compared to H1 2013.
27
Introduction to FCMB Group Plc
Group Performance Review
Risk Management Review Mr. Bayo Sanni (Chief Risk Officer, FCMB Ltd)
Investment Banking Group: Business Review
Commercial Banking Group: Business Review
Outlook to YE 2013
28
Gross Loan Distribution by Sector (Nm)
Industry Sector 3Q12 4Q12 1Q13 2Q13 NPL% 3Q13
%
DISTR.
NPL%
AGRICULTURE 16,720 13,655 12,826 34,106 0.4% 17,931 4.0% 0.6%
COMMERCE 50,903 52,382 52,461 55,602 11.8% 45,880 10.3% 12.0%
CONSTRUCTION 9,656 7,445 5,444 8,219 4.9% 8,198 1.8% 7.0%
EDUCATION 4,572 4,598 4,514 4,603 9.5% 4,810 1.1% 4.3%
FINANCE & INSURANCE 13,608 13,824 8,109 6,091 5.6% 9,667 2.2% 1.0%
GENERAL OTHERS 5,190 5,014 4,713 6,750 3.0% 8,383 1.9% 4.0%
GOVERNMENT 36,511 28,702 25,987 23,123 0.2% 34,876 7.8% 0.4%
INDIVIDUAL 45,238 49,012 55,478 68,274 4.2% 78,769 17.7% 3.6%
MANUFACTURING 27,885 27,390 28,436 27,329 0.4% 32,418 7.3% 0.5%
OIL&GAS-DOWNSTREAM 67,814 67,339 41,761 45,401 3.6% 40,671 9.1% 3.8%
OIL&GAS-UPSTREAM&SERVICES 25,247 40,704 42,786 49,185 0.0% 64,944 14.6% 0.0%
POWER & ENERGY 4,840 4,609 4,369 6,164 0.1% 24,038 5.4% 0.0%
PROFESSIONAL SERVICES 1,586.43 774.34 592.16 1,822 6.2% 2,101 0.5% 6.1%
REAL ESTATE 30,621 25,323 24,221 33,921 3.5% 33,849 7.6% 1.0%
TELECOMMS 42,730 21,637 21,765 25,165 0.0% 32,596 7.3% 0.0%
TRANSPORTATION & LOGISTICS 1,193 1,566 2,496 2,775 3.1% 6,670 1.5% 0.6%
384,314 363,974 335,958 398,528 3.6% 445,803 100.0% 2.7%

Key drivers of
loan growth have
been in Power,
Oil & Gas
Upstream,
Telecomms
Government and
Individual sectors.

Comments
29
Consumer loan origination gathering momentum
Sept. 2012 % Distr. Mar. 2013 % Distr. June. 2013 % Distr. Sept. 2013 % Distr.
Individual Banking 45.62 11.9% 55.45 16.5% 68.00 17.1% 78.44 17.6%
Business Banking 42.10 11.0% 43.46 12.9% 50.70 12.7% 55.09 12.4%
Corporate & Commercial
Banking
255.90 66.6% 209.56 62.4% 254.72 63.9% 275.16 61.7%
Institutional Banking 40.70 10.6% 27.48 8.2% 25.08 6.3% 37.12 8.3%
384.31 100% 335.95 100% 398.50 100% 445.80 100%
Risk Assets by Segment
Sept. 2012 Sept. 2013
30
NPL dropping; coverage remains reasonable
Sept. 2012 Mar. 2013 June. 2013 Sept. 2013
Non Performing Loans (N'B) 18.88 10.70 14.13 12.04
Provision Coverage Ratio (%) 112.0% 70.8% 65.8% 55.2%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
-
2.00
4.00
6.00
8.00
10.00
12.00
14.00
16.00
18.00
20.00
Non Performing Loans (N'B) Provision Coverage Ratio (%)
Coverage Ratio Analysis: Sept 2012 Sept 2013
NPL (NB)
31
Introduction to FCMB Group Plc
Group Performance Review
Risk Management Review
Investment Banking Group: Business Review
Commercial Banking Group: Business Review
Outlook to YE 2013 Mr. Peter Obaseki (Managing Director, FCMB Group Plc)
4Q13 will be challenged by the following factors:
Marginal increase in cost of risk;
Continued pressure on fees and commissions;
Continued impact of cash reserve debit.

However, quarterly earnings momentum should resume as a result of the
following:
Improved money market conditions compared to 3Q13;
Continued low-cost deposit growth and retail loan growth;
Strong fee income from investment banking.
Outlook to YE 2013