Fidelity Bank Sustains 2019 Half Year Growth

Fidelity Bank Plc on Friday August 30, 2019, released its half year result for the period ended June 30, 2019 by sustaining its earnings growth.

The bank led by Nnamdi Okonkwo grew its revenue by 12.3 percent from N92,295 billion in 2018 to N103,655 billion in 2019.

Profit before tax was up by 15.7 percent from N13,010 billion in 2018 to N15,051 billion in 2019. While profit after tax also grew by 15.6 percent to N13,685 billion when compared with N11,843 billion that was recorded same period in 2018.

Earnings per share stood at N41 in 2018 compared to N47 in 2019. Other highlights of the unaudited financial statement shows that cost to income ratio was up by 11.2 percent from 72.9 percent in 2018 to 84.2 percent in 2019. Loan to deposits witnessed 4.3 percent growth to 91.1 percent above 86.8 percent that was reported in 2018.