2016 First Quarter Results Presentation to Investors & Analysts. April 2016

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1 2016 First Quarter Results Presentation to Investors & Analysts April 2016

2 Disclaimer The information presented herein is based on sources which Access Bank Plc. (the Bank ) regards dependable. This presentation may contain forward looking statements. These statements concern or may affect future matters, such as the Bank s economic results, business plans and strategies, and are based upon the current expectations of the directors. They are subject to a number of risks and uncertainties that might cause actual results and events to differ materially from the expectations expressed in or implied by such forward looking statements. Factors that could cause or contribute to differences in current expectations include, but are not limited to, regulatory developments, competitive conditions, technological developments and general economic conditions. The Bank assumes no responsibility to update any of the forward looking statements contained in this presentation. The information should not be interpreted as advice to customers on the purchase or sale of specific financial instruments. Access Bank Plc. bears no responsibility in any instance for loss which may result from reliance on the information. Access Bank Plc. holds copyright to the information, unless expressly indicated otherwise or this is self-evident from its nature. Written permission from Access Bank Plc. is required to republish the information on Access Bank or to distribute or copy such information. This shall apply regardless of the purpose for which it is to be republished, copied or distributed. Access Bank Plc.'s customers may, however, retain the information for their private use. Transactions with financial instruments by their very nature involve high risk. Historical price changes are not necessarily an indication of future price trends. Investors are encouraged to acquire general information from Access Bank Plc. or other expert advisors concerning securities trading, investment issues, taxation etc. in connection with securities transactions. The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by the Bank. Any person at any time acquiring the securities must do so only on the basis of such person s own judgment as to the merits of the suitability of the securities for its purposes and only on such information as is contained in public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained herein. The information is not tailored for any particular investor and does not constitute individual investment advice ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 2

3 Outline 1 Overview of Access Bank Domestic Operating Environment Group Financial Performance Review SBU Performance Review 5 Q2 16 Outlook 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 3

4 Overview of Access Bank 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 4

5 At a Glance A 3m Cards A A+ A+ Credit Ratings (1) Alternative Channels 374 Branches 1,419 ATMs 9,164 POS Terminals 56% 44% 3,672 Professional Staff 7million customers Listings 382bn Shareholders Fund 7 Banking Subsidiaries 2 Rep Offices (1) Long-term national ratings 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 5

6 International Network Recognized as a leading commercial bank in Nigeria with a distribution network across Sub- Saharan Africa, the UK, China and the UAE Nigeria Parent Company PBT ( bn) 20.3 ROE (%) 19.2 Equity ( bn) Branches 308 The UK Zambia Ownership Interest PBT ( m) 92% 9.3 ROE (%) 1.6 Equity ( bn) 1.9 Branches 6 The Gambia United Kingdom China Ownership Interest PBT ( bn) 100% 0.7 ROE (%) 9.8 Equity ( bn) 22.7 Branches 2 Ownership Interest PBT ( m) 64% 41.2 ROE (%) 7.1 Equity ( bn) 1.9 Branches 6 UAE Ghana R. D. Congo Sierra Leone The Gambia Nigeria Ghana DRC Rwanda Zambia Headquarters Subsidiaries Rep Offices Ownership Interest PBT ( bn) 92% 1.3 ROE (%) 23.1 Equity ( bn) 19.4 Branches 39 Ownership Interest PBT ( m) 74% 90.2 ROE (%) 9.1 Equity ( bn) 3.4 Branches 2 Rwanda Sierra Leone Ownership Interest 75% Ownership Interest 97% PBT ( m) 98.3 ROE (%) 12.2 Equity ( bn) 2.7 Branches 7 PBT ( m) 41.4 ROE (%) 8.9 Equity ( bn) 1.5 Branches ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 6

7 Domestic Operating Environment 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 7

8 The Nigerian Economy Key Macroeconomic Indicators Comments GDP Growth Rate (%) Q1 15 Q2 15 Q3 15 Q4 15 Q f GDP expected to remain flat q/q at 2.1% in Q1 16, as slowed economic activity persisted on the back of lower oil prices, FX unavailability and stringent fiscal economic policies Inflation Rate Y/Y (%) Continued uptick in inflation since Q1 15 largely reflecting the impact of FX scarcity on food prices and increased imported inflation Crude Oil Price USD/Barrel FX Rate ( /$) Interbank Parallel Average 30-Day NIBOR Rate (%) Bonny Light price was down 7% q/q, averaging $34.0pb in Q1 16 (Q4 15: $36.6pb). Persistent decline in crude oil prices has triggered a 27% drop in foreign direct investment and a 11% y/y decline in external reserves to $27.9bn in Q1 16 (Q1 15: $31.2bn) The Naira traded at a record low of 320/$ at the parallel market in Q1 16. Continued pressure on the Naira primarily driven by FX scarcity and speculation on further currency devaluation due to declining oil prices Regulatory Highlights Money Market Rate (1) (%) January March CBN tightened liquidity by increasing the MPR to 12% from 11%, and the CRR to 22.5% from 20% (1) Call rate was used as an indicator for the Money Market Rate Source: CBN, National Bureau of Statistics (NBS), Financial Derivatives Company Limited (FDC), Business Monitor International (BMI) 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 8

9 Group Financial Performance Review 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 9

10 Key Messages Strong Profitability Metrics Profit Before Tax 22.6bn Q1 15: 16.5bn +37% y/y After-Tax ROAE 20.7% Q1 15: 19.2% +150bps y/y Strong profits recorded in the period on the back of improved interest income, fees and commission from increased e-channels usage and payment volumes Improved Margins Cost of Funds 3.7% Q1 15: 5.1% -140bps y/y Net Interest Margin 7.1% Q1 15: 5.9% +120bps y/y Significant improvement in margins driven by repricing and growth in low-cost deposits in the retail business Stable Asset Quality NPL Ratio 1.7% Dec 15: 1.7% Cost of Risk 0.6% Q1 15: 1.0% -40bps y/y Asset quality remains strong due to continuous and proactive monitoring of the loan book in line with the Bank s risk management framework 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 10

11 Group Financial Highlights Profitability Q1 16 Q1 15 Gross Earnings ( m) 80,271 76,792 Operating Income ( m) 59,360 53,959 Impairment Charges ( m) (2,398) (3,868) Profit Before Tax ( m) 22,583 16,518 Profit After Tax ( m) 19,419 13,668 EPS ( ) Cost-to-Income (%) Balance Sheet Mar 16 Dec 15 Loans and Advances ( bn) 1,469 1,409 4% Total Assets ( bn) 2,748 2,591 6% Customer Deposits ( bn) 1,803 1,683 7% Shareholders Fund ( bn) % Prudential & Performance Ratios Q1 16 FY 15 5% 10% (38%) 37% 42% (1%) (4.3) After-Tax ROAE (%) Capital Adequacy (%) Liquidity (%) Loans to Deposit (%) Gross earnings stood at 80.3bn in the quarter (+5% y/y, Q1 15: 76.8bn) on the back of loan growth in Q % y/y increase in net interest income to 34.6bn in Q1 16 (Q1 15: 23.4bn), benefitting from a 9% y/y reduction in interest expense to 20.8bn (Q1 15: 22.8bn) and a 19% y/y growth in interest income PBT up 37% y/y to 22.6bn, driven by interest income growth (+19% y/y) and improved fee and commission income (+87% y/y) on the back of increased utilization of the Bank s retail channels Loans and advances grew by 4% to 1.47trn as at Mar 16 (Dec 15: 1.41trn), well within the year-end guidance of 10% Customer deposits closed at 1.80trn for the period, 7% growth from 1.68trn as at Dec 15 reflecting improved retail penetration After-Tax ROAE up 30 bps to 20.7% in Q1 16 (FY 15: 20.4%) on the back of improved earnings 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 11

12 Revenue Gross Earnings ( bn) % % % % % % % % % % Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Interest Income Non-Interest Income Interest Income ( bn) (0.0) Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Loans and Advances Investment Securities Cash and Cash Equivalents Non-Interest Income ( bn) 40% 43% 36% 34% 31% Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Net Fee & Comm. Income Other Income Trading Income NIR/Revenue Gross earnings up 5% y/y to 80.3bn in Q1 16 (Q1 15: 76.8bn) Key drivers: 19% y/y increase in interest income to 55.4bn in the quarter (Q1 15: 46.4bn) largely resulting from an 18% y/y growth in income from loans and advances, as well as a 29% y/y rise in returns from investment securities Sizeable growth in fee and commission income, particularly from retail-related transactions and increased payment volumes Non-interest income decreased 19% to 24.7bn in Q1 16 (Q1 15: 30.4bn) as significant growth in fees and commission income (+88% y/y) largely offset the drop in net trading income Sizeable growth in other income to 3.9bn in Q1 16 (Q4 15: 106m) primarily driven by dividend income of 2.2bn recognized in the period 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 12

13 Margin Analysis Yield on Assets (YoA) Cost of Funds (CoF) Net Interest Margin (NIM) 11.7% 12.3% 12.4% 11.2% 11.4% 5.1% 5.8% 5.7% 4.4% 5.9% 5.8% 6.1% 6.3% 7.1% 3.7% Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Yield on Assets declined marginally by 30 bps y/y to 11.4% from 11.7% in Q1 15, but inched up 20bps q/q (Q4 15: 11.2%) reflecting the impact of repricing on FX loans in the last quarter of 2015 Significant improvement in cost of funds, down 140bps y/y and 70bps q/q to 3.7% (Q1 15: 5.1%, Q4 15: 4.4%) benefitting from the repricing of deposits and growth in low-cost deposits in the period Consequently, NIM rose to 7.1% in Q1 16 from 5.9% in Q1 15, in line with the guidance for the year 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 13

14 Operating Expenses & Impairment Analysis Operating Expenses ( bn) Impairment Analysis ( bn) 62.2% 56.6% 60.4% % % % % % 0.5% 0.6% Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Personnel Depreciation & Amortization Other Operating Expenses Cost-to-Income Ratio Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Impairment Charge on Other Assets Impairment Charge on Loans Cost of Risk (Loans) Operating expenses increased 2% y/y to 34.4bn in the period (Q1 15: 33.6bn). However, operating costs declined 13% q/q from 39.4bn in Q4 15 primarily as a result of savings from strategic cost reduction programs Cost-to-Income Ratio (CIR) improved to 57.9%, down 430bps from 62.2% in Q1 15 primarily driven by a 10% y/y increase in operating income to 59.4bn in Q1 16 (Q1 15: 54.0bn) Total impairment charges declined 38% y/y to 2.4bn in Q1 16 (Q1 15: 3.9bn) Cost of risk improved by 40bps to 0.6% in Q1 16 (Q1 15: 1.0%) 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 14

15 Profitability Solid profitability metrics reflecting commitment to generating sustainable economic returns Profitability Indicators 19.2% 23.7% % % 20.7% 22.6 Profit Before Tax (PBT) grew by 37% y/y to 22.6bn in Q1 16 (Q1 15: 16.5bn) Key drivers: Strong earnings, as interest income grew by 19% y/y to 55.4bn (Q1 15: 46.4bn) % y/y increase in fee and commission income to 18.0bn (Q1 15: 9.6bn) largely due to considerable growth in channels and e-business income 2.6% 3.1% 2.8% 2.8% 2.9% ROAA improved 30bps y/y to 2.9% in Q1 16 (Q1 15: 2.6%) largely driven by a 42% y/y growth in net profit to 19.4bn (Q1 15: 13.7bn) Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Significant growth in ROAE (+150bps) to 20.7% in the quarter from 19.2% in Q1 15 PBT ( 'bn) ROAA ROAE 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 15

16 Balance Sheet Snapshot Capital Adequacy 19.6% Liquidity 37.6% NPL Ratio 1.7% NPL Coverage (1) 214.5% Dec 15: 19.5% Dec 15: 38.0% Dec 15: 1.7% Dec 15: 216.4% Total assets grew by 6% to 2.75trn as at Mar 16 (Dec 15: 2.59trn) Asset Mix ( bn) 2, ,409 2, , % % 507 Dec'15 Cash & Cash Equivalents Loans & Advances 4% 3% 7% 54% Fixed & Intangible Assets Mar'16 Trading & Pledged Assets Investment Securities Other Assets 5% 3% 7% 53% 13% 18% Total Liabilities ( bn) 2,365 2, % % % % 1,683 76% 1,803 76% 73 3% 47 2% Dec'15 Mar'16 Deposits from Banks Customer Deposits Interest-Bearing Loans Other Liabilities Key drivers: 34% increase in cash and balances with other banks to 114.6bn in Mar 16 (Dec 15: 85.3bn) 10% growth in investment securities to 204.9bn resulting from a 22% rise in investments in government bonds to 66.5bn in the period from 54.7bn as at Dec 15 Loans and advances up 4% to 1.47trn in the period (Dec 15: 1.41trn), in line with the year-end guidance of 10% Customer deposits increased 7% to 1.80trn as at Mar 16 from 1.68trn in Dec 15 (1) Includes regulatory risk reserves 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 16

17 Loan Analysis Loans and Advances ( bn) 1, % 1,280 1, % Loans by Currency 76.4% 1, % 69.5% 1,141 1,173 1,281 1,366 1,438 Mar'15 Jun'15 Sep'15 Dec'15 Mar'16 Loans & Advances to Banks Loans & Advances to Customers Loan-to-Deposit Ratio 1,469 44% 43% 45% 41% 38% Loan Distribution by Sector 1.8% 3.9% 4.6% 6.9% 4.8% 14.6% 8.4% 8.0% Mar 16 Gross Loans: 1,499bn (1) 18.2% 4.6% 7.5% 5.6% 9.6% 1.8% Sector Mar 16 Dec 15 Oil & Gas Downstream 8.0% 9.6% Oil & Gas Upstream 4.6% 4.2% Oil & Gas Services 7.5% 8.1% Oil & Gas Refinery 1.8% 2.0% Construction 5.6% 6.1% General Commerce 9.6% 11.1% Government 18.2% 11.8% Info. & Comm. 8.4% Manufacturing Others 4.8% Real Estate 6.9% Transportation 4.6% Cement 1.8% Steel 3.9% Others (2) 14.6% 8.4% 5.1% 7.3% 5.2% 1.8% 3.8% 15.5% Loan portfolio remains diversified, benefitting from the Bank s moderate risk appetite and continued focus on maintaining high quality obligors 56% 57% 55% 59% 62% Loan growth of 4% recorded in the period (Mar 16: 1.47trn vs. Dec 15: 1.41trn) is well within guidance Mar'15 Jun'15 Sep'15 Dec'15 Mar'16 LCY FCY Loan-to-deposit ratio (LDR) improved to 69.5% (inclusive of interest-bearing borrowings) as at Mar 16 (-140bps, Dec 15: 70.9%) (1) Stated Gross Loans figure includes Loans & Advances to Banks as at 31 March 2016 (2) The following sectors are included in Others : Agriculture, Capital Markets, Education, Finance & Insurance, General, Basic Metal Products, Conglomerates and Food Manufacturing 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 17

18 Asset Quality NPL Analysis % 175% % % 215% 2.1% 1.8% 1.7% 1.7% 1.7% Mar'15 Jun'15 Sep'15 Dec'15 Mar'16 NPLs ( bn) NPL Coverage NPL Ratio Asset quality remained stable in the period as the Bank continues to actively monitor the loan book to mitigate against significant growth in non-performing loans NPL ratio remained flat at 1.7% whilst gross NPLs inched up slightly to 25.1bn as at Mar 16 (Dec 15: 24.5bn) due to proactive risk management and continued close monitoring of the loan portfolio NPLs are adequately provisioned as the coverage ratio (including regulatory risk reserves) stood at 214.5% in the period NPL Ratio by Sector (1) General Commerce Agriculture Construction Oil & Gas Upstream Oil & Gas Services Oil & Gas Downstream Real Estate Manufacturing Others Others (2) Info. & Comm. Mar 16 NPL Distribution by Sector 45.5% 4.6% 0.9% 2.5% Mar 16 Gross NPLs: 25.1bn 10.6% 3.5% 15.7% 6.0% 6.4% 4.1% 1.5% 1.4% 1.3% 0.5% 0.2% 0.9% 0.9% 4.7% 8.0% 7.8% Sector Mar 16 Dec 15 Info. & Comm. 0.9% 0.9% Manufacturing Others 2.5% 1.5% Others (2) 10.6% 10.1% Real Estate 3.5% 3.6% Oil & Gas Downstream 6.0% 7.9% Oil & Gas Services 6.4% 6.6% Oil & Gas Upstream 4.1% Construction 15.7% Agriculture 4.6% General Commerce 45.5% Dec % 5.5% 4.2% 1.7% 1.4% 1.4% 0.8% 0.5% 0.6% 0.2% 4.2% 15.2% 4.3% 45.7% (1) Measures the portion of the total credit exposure by sector that is impaired. Formula: NPL (Sector) / Total Gross Loans (Sector) (2) The following sectors are included in Others : General, Finance & Insurance, Basic Metal Products, Government, Food Manufacturing, Transportation and Storage 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 18

19 Deposit Analysis Customer Deposits ( bn) Total Deposits by Region 1,803 1,639 1,683 1, , % 138 8% 131 8% 131 9% % 42% 40% % % 48% 51% 50% 8% 44% 48% Mar 16 84% Dec 15 2% 9% 8% 5% 5% 2% Nigeria UK Ghana Rest of Africa Mar'15 Jun'15 Sep'15 Dec'15 Mar'16 84% Demand Term Savings Customer deposits up 7% to 1.80trn in the period (Dec 15: 1.68trn) CASA grew by 4% to 1.01trn as at Mar 16 (Dec 15: 977bn) reflecting continued growth in the Bank s retail business and improved value chain penetration across the SBUs 12% increase in term deposits to 790.7bn (Dec 15: 706.3bn), which accounted for 44% of the total customer deposit base as at Mar 16 Term deposits were repriced downwards in the period, which resulted in a reduction in cost of funds to 3.7% (Q1 15: 5.1%) Access UK constituted 9% of the Group s total deposits in the quarter, 100bps improvement from Dec 15 (8%) 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 19

20 Capital & Liquidity Adequately positioned to absorb significant macro shocks Capital Adequacy Computation Basel II Funding Sources Underlying in m Mar 16 Dec 15 % Underlying in bn Mar 16 Dec 15 % Tier I Capital Tier II Capital Total Regulatory Capital Credit Risk Operational Risk Market Risk Risk-Weighted Assets 312,229 89, ,328 1,731, ,443 33,846 2,048, ,637 86, ,407 1,694, ,439 13,402 1,996, (2) Customer Deposits Deposits from Banks Debt Securities Interest-Bearing Borrowings Other Liabilities Equity Total Liabilities & Equity 1, ,748 1, ,591 7 (36) Capital Adequacy Tier I Tier II Total 1, % 4.4% 19.6% 15.2% 4.3% 19.5% 1,818 1,889 1,997 2, % 37.1% 36.3% 38.0% 37.6% Capital and liquidity metrics are strong and above regulatory limits Capital Adequacy Ratio (CAR) of 19.6% as at Mar 16 (+10bps) Stable liquidity position with the Group liquidity ratio at 37.6% as at Mar 16, providing a surplus to internal and external minimum requirements 19.6% 19.0% 21.7% 19.5% 19.6% Mar'15 Jun'15 Sep'15 Dec'15 Mar'16 RWA ( bn) Capital Adequacy Ratio Liquidity Ratio 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 20

21 SBU Performance Review 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 21

22 Q1 16 SBU Performance Summary Corporate & Investment Banking Commercial Banking Business Banking Personal Banking Slowed treasury, sales and trading business driven by persistent FX illiquidity on the back of increased restrictions on FX by the CBN Decline in PBT to 4.3bn in the period (Q bn) largely attributed to the drop in net trading income Increase in operating income benefiting from growth in the commercial banking business and the government intervention funding program Enhanced performance in collections resulting in reduced funding cost Consistent reduction in loss position, recording a 1.6bn reduction in its loss position to 357m in Q1 16 from 2.0bn in Q1 15 Performance primarily driven by increased utilization of the Bank s retail products and channels Dormancy ratio declined to 40% in Q1 16 from 42% in Dec 15 Improved results, as sizeable growth in PBT to 4.9bn in the period was largely driven by increased transaction volumes across the Bank s channels and e- business Profit Before Tax ( bn) Corporate & Investment Banking Commercial Banking Q1'15 significantly improved retail business performance (2.0) (0.4) (0.1) Business Banking Q1' Personal Banking Loan Contribution Mar 16 54% 52% 4% 4% Dec 15 40% 39% 4% 3% Corporate & Investment Banking Commercial Banking Business Banking Personal Banking Deposit Contribution Mar 16 12% 12% 20% 25% 20% 27% Dec 15 40% 44% Corporate & Investment Banking Commercial Banking Business Banking Personal Banking 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 22

23 Q2 16 Outlook 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 23

24 Key Imperatives for Q2 16 Intensify implementation of identified cost reduction initiatives and optimize branch operations Reinforce efficiency of the digital strategy and launch Phase 2 of PayWithCapture campaign Drive value chain banking and branch optimization to grow low-cost deposits Effectively Manage Costs Enhance Asset Quality Implement Digital Banking Strategy Optimize E-banking Platforms Generate Lowcost Liability Ensure proactive risk management and close monitoring of the loan book Drive increased customer sign-on and utilization of the Bank s digital platforms 2016 ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 24

25 Disclaimer The information presented herein is based on sources which Access Bank Plc. (the Bank ) regards dependable. This presentation may contain forward looking statements. These statements concern or may affect future matters, such as the Bank s economic results, business plans and strategies, and are based upon the current expectations of the directors. They are subject to a number of risks and uncertainties that might cause actual results and events to differ materially from the expectations expressed in or implied by such forward looking statements. Factors that could cause or contribute to differences in current expectations include, but are not limited to, regulatory developments, competitive conditions, technological developments and general economic conditions. The Bank assumes no responsibility to update any of the forward looking statements contained in this presentation. The information should not be interpreted as advice to customers on the purchase or sale of specific financial instruments. Access Bank Plc. bears no responsibility in any instance for loss which may result from reliance on the information. Access Bank Plc. holds copyright to the information, unless expressly indicated otherwise or this is self-evident from its nature. Written permission from Access Bank Plc. is required to republish the information on Access Bank or to distribute or copy such information. This shall apply regardless of the purpose for which it is to be republished, copied or distributed. Access Bank Plc.'s customers may, however, retain the information for their private use. Transactions with financial instruments by their very nature involve high risk. Historical price changes are not necessarily an indication of future price trends. Investors are encouraged to acquire general information from Access Bank Plc. or other expert advisors concerning securities trading, investment issues, taxation etc. in connection with securities transactions. The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by the Bank. Any person at any time acquiring the securities must do so only on the basis of such person s own judgment as to the merits of the suitability of the securities for its purposes and only on such information as is contained in public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained herein. The information is not tailored for any particular investor and does not constitute individual investment advice ACCESS BANK PLC Q1 16 RESULTS PRESENTATION TO INVESTORS & ANALYSTS 25

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