STANBIC IBTC : QUARTER 4 - FINANCIAL STATEMENT FOR 2021

STANBIC IBTC HOLDINGS PLC

UNAUDITED CONSOLIDATED AND SEPARATE FINANCIAL

STATEMENTS

31 DECEMBER 2021

I.B.T.C. Place Walter Carrington Crescent / P.O. Box 71707 Victoria Island Lagos Nigeria

Telephone: [phone]. [phone] Facsimile: 234-1- 2806998 www.stanbicibtc.com

Stanbic IBTC Holdings PLC RC 1018051

Directors: Basil Omiyi CON (Chairman) Demola Sogunle (Chief Executive) Kunle Adedeji (Executive) F. Ajogwu (SAN) S. David-Borha N. Edozien I. L. Esiri B.J. Kruger* B. Manu S. Suleiman N. Uwaje

*South African

STANBIC IBTC HOLDINGS PLC

UNAUDITED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

31 DECEMBER 2021

Table of contents

Unaudited Consolidated and separate statement of financial position

Consolidated and separate statement of profit or loss Consolidated and separate statement of comprehensive income Statement of changes in equity

Consolidated and separate statement of cash flows

Notes to the condensed consolidated financial statements

Risk management

Page

1

2

3

4-5

6

7-59

60-62

STANBIC IBTC HOLDINGS PLC

Unaudited Consolidated and separate statement of financial position as at 31 December 2021

		Group	Company
		31 Dec. 2021	31 Dec. 2020	31 Dec. 2021	31 Dec. 2020
	Note	N'million	N'million	N'million	N'million
Assets
Cash and Bank balances	6	665,500	627,111	53,236	42,145
Pledged assets	7	182,335	170,578	-	-
Trading assets	8	98,743	169,655	-	-
Derivative assets	9	40,667	46,233	-	-
Financial investments	10	636,611	612,276	2,076	2,227
Loans and advances	11	937,140	632,967	-	-
Loans and advances to banks	11	16,096	7,828	-	-
Loans and advances to customers	11	921,044	625,139	-	-
Other assets	12	121,659	175,980	6,258	9,155
Equity investment in group companies		-	-	94,751	93,519
Property and equipment	14	42,720	30,728	148	137
Right of Use Assets	16	3,394	2,975	33	60
Intangible asset	15	4,011	4,640	-	-
Deferred tax assets	13	13,998	13,163	-	-
Total assets		2,746,778	2,486,306	156,502	147,243
Equity and liabilities
Equity		376,884	378,601	117,620	138,201
Equity attributable to ordinary shareholders		368,034	371,023	117,620	138,201
Ordinary share capital	17	6,479	5,553	6,479	5,553
Ordinary share premium	17	102,780	102,780	102,780	102,780
Reserves		258,775	262,690	8,361	29,868
Non-controlling interest		8,850	7,578	-
Liabilities		2,369,894	2,107,705	38,882	9,042
Trading liabilities	8	112,023	188,500	-	-
Derivative liabilities	9	24,805	37,382	-	-
Current tax liabilities		16,359	20,270	50	173
Deposits and current accounts	18	1,558,202	1,325,566	-	-
Deposits from banks	18	431,667	505,622	-	-
Deposits from customers	18	1,126,535	819,944	-	-
Other borrowings	19	136,638	112,031	-	-
Debt securities issued	20	47,419	68,269	-	-
Provisions	22	9,302	9,354	-	-
Other liabilities	21	465,146	346,333	38,832	8,869
Total equity and liabilities		2,746,778	2,486,306	156,502	147,243
Demola Sogunle				Kunle Adedeji
Chief Executive				Chief Financial Officer
FRC/2013/CIBN/00000001034				FRC/2013/ICAN/00000001137
28 January 2022				28 January 2022

Basil Omiyi Director FRC/2016/IODN/00000014093 28 January 2022

The accompanying notes form an integral part of these financial statements.

Page 1

STANBIC IBTC HOLDINGS PLC

Consolidated and separate statement of profit or loss for the year ended 31 December 2021

			Group				Company
		3 months	12 months	3 months	12 months	3 months	12 months	3 months	12 months
		31-Dec-21	31-Dec-21	31-Dec-2031-Dec-20	31-Dec-21	31-Dec-21	31-Dec-20	31-Dec-20
	Note	N'million	N'million	N'million	N'million	N'million	N'million	N'million	N'million
Gross earnings		60,950	205,807	51,160	234,446		6,525	37,025	808	30,775
Net interest income		21,375	75,372	17,958	74,215		80	90	18	140
Interest income	27.1	31,748	104,751	23,823	105,776		80	90	18	140
Interest expense	27.2	(10,373)	(29,379)	(5,865)	(31,561)		-	-	-	-
Non-interest revenue		27,835	95,788	26,256	124,709		6,445	36,935	790	30,635
Net fee and commission revenue	27.3	23,225	82,877	18,235	71,190		1,099	1,517	342	1,327
Fee and commission revenue	27.3	24,685	88,321	19,316	75,151		1,099	1,517	342	1,327
Fee and commission expense	27.3	(1,460)	(5,444)	(1,081)	(3,961)		-	-	-	-
Income from life insurance activities	27.4	93	176	-	-		-	-	-	-
Trading revenue	27.5	4,282	13,301	7,744	52,110		-	-	-	-
Other revenue	27.6	235	(566)	277	1,409		5,346	35,418	448	29,308
Total income		49,210	171,160	44,214	198,924		6,525	37,025	808	30,775
Net impairment write-back/(loss) on financial assets	27.7	4,422	1,225	(2,937)	(9,935)		-	-	-	-
Income after credit impairment charges		53,632	172,385	41,277	188,989		6,525	37,025	808	30,775
Operating expenses		(27,012)	(106,364)	(23,402)	(94,272)		(1,111)	(4,659)	(1,487)	(4,402)
Staff costs		(10,673)	(42,041)	(10,897)	(42,143)		(437)	(2,458)	(727)	(2,044)
Other operating expenses	27.8	(16,339)	(64,323)	(12,505)	(52,129)		(674)	(2,201)	(760)	(2,358)
Profit before tax		26,620	66,021	17,875	94,717		5,414	32,366	(679)	26,373
Income tax	27.9	(8,151)	(9,037)	(804)	(11,506)		(6)	(8)	(2)	(4)
Profit for the year		18,469	56,984	17,071	83,211		5,408	32,358	(681)	26,369
Profit attributable to:
Non-controlling interests		621	2,588	475	2,272		-	-	-	-
Equity holders of the parent		17,848	54,396	16,596	80,939		5,408	32,358	(681)	26,369
Profit for the year		18,469	56,984	17,071	83,211		5,408	32,358	(681)	26,369
Earnings per share
Basic earnings per ordinary share (kobo)	28	338	420	149	729		256	250	(6)	237
Diluted earnings per ordinary share (kobo)	28	338	420	149	729		256	250	(6)	237
The accompanying notes form an integral part of these financial statements.

Page 2

STANBIC IBTC HOLDINGS PLC

Consolidated and separate statement of comprehensive income for the year ended 31 December 2021

		Group			Company
	3 months	12 months	3 months	12 months	3 months	12 months	3 months	12 months
	31-Dec-2131-Dec-21	31-Dec-2031-Dec-20	31-Dec-21	31-Dec-21	31-Dec-2031-Dec-20
Note	N'million	N'million	N'million	N'million	N'million	N'million	N'million	N'million
Profit for the year	18,469	56,984	17,071	83,211	5,408	32,358	(681)	26,369
Other comprehensive income
Items that will never be reclassified to profit or loss
Movement in fair value reserve (equity instruments):	835	999	514	140	-	-	-	-
Net change in fair value	835	999	514	140	-	-	-	-
Related income tax	-	-		-	-	-	-	-
Items that are or may be reclassified subsequently to profit or
loss:
Movement in debt instruments measured at fair value	(1,323)	(5,666)	(4,718)	4,297	-	-	-	-
through other comprehensive income (OCI)
Net change in fair value of financial assets at FVOCI	(1,254)	(7,285)	(3,880)	5,062	-	-	-	-
Realised fair value adjustments on financial assets at FVOCI	(9)	1,582	(113)	(683)	-	-	-
reclassified to income statement	-
Expected credit loss on debt financial assets at FVOCI	(60)	37	(725)	(82)	-	-	-	-
Income tax on other comprehensive income	-	-	-	-	-	-	-	-
Other comprehensive income for the year, net of tax	(488)	(4,667)	(4,204)	4,437	-	-	-	-
Total comprehensive income for the year	17,981	52,317	12,867	87,648	5,408	32,358	(681)	26,369
Total comprehensive income attributable to:
Non-controlling interests	611	2,367	526	2,374	-	-	-	-
Equity holders of the parent	17,370	49,950	12,341	85,274	5,408	32,358	(681)	26,369
	17,981	52,317	12,867	87,648	5,408	32,358	(681)	26,369

The accompanying notes form an integral part of these financial statements.

Page 3