• Thursday, May 30, 2024
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Fidelity Bank 2012 pre-tax profit hits N21.6bn


  Fidelity Bank said on Tuesday its full-year pre-tax profit jumped to N21.62 billion, from N161 million in the previous year, the bank said in a statement to the Nigerian Stock Exchange (NSE).

It gave no reason for the increase, but Fidelity is one of several banks that have posted strong results for 2012, after a lacklustre 2011 mostly caused by write offs of bad debts across the sector, reports Reuters.

Gross earnings rose to N78.99 billion, from N49.53 billion in 2011, the bank said.

It also declared a dividend of N0.21 per share, compared with N0.14 per share previously.