Fidelity Bank accrues N22.9bn profit in 2018
Fidelity Bank Plc has announced that it accrued a N22.9 billion profit after tax for the financial year ended Dec. 31, 2018.
In a statement issued in Lagos, the bank is said to have made 29 percent increase during the year under review.
The figure for the previous year stood at N17.7 billion.
The profit before tax soared by 30.6 per cent to N25.1 billion in contrast with the N19.2 billion posted in 2017, while the bank reported gross earnings of N188.9 billion against N180.2 billion in the corresponding period.
The bank reported an increase of 4.8 per cent, while operating income rose by 13.9 per cent, from N85.9 billion, to N97.2 billion.
“We are delighted by our 2018 numbers, which clearly shows au sustained performance trajectory.
“We are growing our market share with continued traction in our chosen business segments.
“We recorded double digits growth in interest income on our liquid assets, digital banking, foreign exchange and other income lines,” Nnamdi Okonkwo, the bank’s Chief Executive Officer, commented on the result.
Fidelity bank is proposing a total divided of N3.2 billion to its shareholders which translated to 11k per share.
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Business and Lifestyle Editor at Wheel NG