Fidelity Bank Grows PBT by 35.7% to N38.1bn for FY 2021

Fidelity Bank Grows PBT by 35.7% to N38.1bn for FY 2021

……Proposes dividend of 35 kobo Per Share

 

 

 

 

 

Leading financial institution, Fidelity Bank Plc has recorded 35.7% growth in Profit Before Tax for its 2021 financial year to close the year at N38.1bn according to the bank’s recently issued financial result.

 

http://https://youtu.be/R5W16-YIsCM

 

 

 

 

 

 

 

 

 

 

Analysis of the results indicates that the bank grew Gross Earnings by 21.6% YoY (23.2% QoQ) to N250.8bn driven by a combination of 60.3% growth in non-interest revenue (NIR) and 15.2% increase in interest and similar income. The growth in NIR reflects the significant increase in customer transactions resulting in 84.9% growth in trade income, 48.1% in account maintenance charge, and 47.2% increase in digital banking income.

 

 

 

 

 

 

Commenting on the Bank’s impressive performance, Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc noted, “We closed the financial year with strong double-digit growth in profit and across key balance-sheet lines, which reflects the disciplined execution of our strategy and capacity to deliver superior returns to shareholders. Profit before tax grew by 35.7% to N38.1bn from N28.1bn in 2020FY, which translates to an increase in RoAE to 12.5% from 10.5% in 2020FY.”

http://https://www.fidelitybank.ng/fidelity-grows-pbt-by-35-7-to-n38-1bn-for-fy-2021/

 

 

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