Profits at Fidelity Bank drop 58 per cent

Fidelity Bank said on Wednesday its pretax profit fell to N9.03 billion ($54.75 mln) in 2013 from N21.34 billion the previous year.

However, the mid-tier lender increased gross earnings to N126.9 billion from N119.1 billion in 2012, it said in a statement.

Fidelity Bank proposed a dividend of N0.14 per share, which it will pay on May 2, down from N0.21  paid a year ago, but unchanged from the N0.14 paid in 2012 and 2011, according to Thomson Reuters data.