Fidelity Bank Plc on Friday August 30 released its half year (H1) audited financial statements for the period ended June 30, 2019 which shows impressive growth across its top-to-bottom line figures.
The bank’s results at the Nigerian Stock Exchange (NSE) show its Gross Earnings increased by 12.3percent to N103.7billion, from N92.3billion in H1 of 2018. Net Interest Income (NII) decreased by 3percent to N36.9billion from N38.1billion in H1 2018.
Operating Income increased by 16.5percent to N53.2billion from N45.7billion recorded in H1 2018. Profit Before Tax (PBT) increased by 15.7percent to N15.1billion from N13billion in H1 2018.
As at 11.16 am on Friday August 30, the shares of the bank were on demand at the Nigerian Stock Exchange (NSE). The share price increased from N1.66 to N1.69, after adding 3kobo or 1.81percent.
In the review half-year period, its earnings per share (EPS) printed higher at 47kobo from a low of 41kobo in H1’2018. Net Loans increased by 17.6percent to N999.3billion from N849.9billion in 2018 financial year.
The bank grew total deposits by 12percent to N1.097trillion from N979.4billion in 2018 financial year. Total Equity increased by 10.9percent to N215.6billion from N194.4billion in 2018 financial year, while Total Assets increased by 12.8percent to N1.940trillion from N1.719trillion in 2018 financial year.
Get Newsletter Updates
Enjoying our column?
Subscribe to our specialised **Tax 360** feed to receive fresh reports and analyses directly in your inbox.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
