{"id":23924,"date":"2018-05-25T15:35:42","date_gmt":"2018-05-25T14:35:42","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=23924"},"modified":"2018-05-25T15:35:42","modified_gmt":"2018-05-25T14:35:42","slug":"fidelity-bank-optimistic-of-2018-financial-year-pays-n3-186-billion-as-dividend","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fidelity-bank-optimistic-of-2018-financial-year-pays-n3-186-billion-as-dividend\/","title":{"rendered":"Fidelity Bank Optimistic Of 2018 Financial Year \u2026 Pays N3.186 Billion As Dividend"},"content":{"rendered":"

Considering the impressive performance in 2017 financial year, the managing director of Fidelity Bank Plc, Mr Nnamdi Okonkwo has assured shareholders of the bank that they will get value from their investments at the end of the ongoing 2018 financial year. He disclosed this on Friday May 25, 2018, at the bank 30th<\/sup>\u00a0Annual General Meeting (AGM) in Lagos.<\/p>\n

Just as shareholders unanimously approved the payment of N3.186 billion as final dividend for the full year ended December 31, 2017. The dividend which is subject to withholding tax amount to 11 kobo per ordinary share of 50 kobo each, and it will be paid on May 25, 2018 to shareholders whose names appears on the register of members at the close of business on May 11, 2018.<\/p>\n

Okonkwo who was responding to shareholders questions concerning the 2017 audited financial statement, noted that \u201cclearly, our success in 2017 financial year has set a strong pedestal for sustained growth in revenue. We are optimistic about a favourable operating environment and we look forward to delivering decent set of numbers at the end of 2018 financial year\u201d<\/p>\n

He explained that with the relative stability experienced in the last quarter of 2017 and the improved macroeconomic indices, declining headline inflation rate, improving business climate and economic growth as well as foreign exchange liquidity. The outlook for 2018 financial year is positive.<\/p>\n

In his words \u201cwe aware of the growing opportunities in our markets. We will continue to focus on redesigning our systems and processes to enhance services delivery, deepen our cost optimization initiatives to reduce operating expenses and cost to serve, and enhance our overall risk monitoring capacities to ensure both internal and external risks are identified and mitigated before they crystalize\u201d.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

He pointed out that in view of the evolving dynamics in the industry, the bank will continue to increase the adoption and migration of customers to their digital platforms and increase their retail banking market share through innovative products and services. Adding that \u201cwe will enhance our robust electronic banking processes and products thereby deepening our hold on the retail and commercial markets, small and medium scale enterprises and niche corporate clientele\u201d.<\/p>\n

Highlight of the audited account shows that revenue grew by 12.9 percent, while decline in total expenses translated by N1.5 billion translated to N9.1 billion increase in profit after tax to N18.8 billion from N9.7 billion that was recorded same period in 2016 financial year. Fidelity Bank is a full-fledged commercial bank operating in Nigeria, with over 3.9 million customers who are serviced across its 231 business offices and various other digital banking channels.<\/p>\n

Photo Caption: Managing Director of Fidelity Bank Plc, Mr Nnamdi Okonkwo\u00a0\u00a0<\/em><\/strong><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Considering the impressive performance in 2017 financial year, the managing director of Fidelity Bank Plc, Mr Nnamdi Okonkwo has assured shareholders of the bank that they will get value from their investments at the end of the ongoing 2018 financial year. He disclosed this on Friday May 25, 2018, at the bank 30th\u00a0Annual General Meeting …<\/p>\n","protected":false},"author":6,"featured_media":23925,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[753],"coauthors":[2391],"class_list":["post-23924","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-fidelity-bank-plc"],"yoast_head":"\nFidelity Bank Optimistic Of 2018 Financial Year \u2026 Pays N3.186 Billion As Dividend - National Wire<\/title>\n<meta name=\"description\" content=\"Considering the impressive performance in 2017 financial year, the managing director of Fidelity Bank Plc, Mr Nnamdi Okonkwo has assured shareholders of the bank that they will get value from their investments at the end of the ongoing 2018 financial year. 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