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Fidelity Bank: Strengthening the footprint of growth

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Fidelity Bank: Strengthening the footprint of growth

Fidelity Bank: Strengthening the footprint of growth

… with impressive FY’22 financials

 

 

Fidelity Bank Plc has released its audited financial statements (AFS) for the year ended December 31, 2022 which showed the bank’s impressive growth across key top-to-bottom line figures.

 

Fidelity Bank: Strengthening the footprint of growth

 

 

The full year 2022 scorecard

The bank’s financial results released to the investing public at the Nigeria Exchange Limited (NGX) show its full year (FY) 2022 gross earnings printed higher at N337.050billion, representing 34.4percent increase against N250.776billion recorded in 2021.

Net Interest Income (NII) rose by 60.94percent to N152.695billion from N94.879billion recorded in 2021. Its Profit Before Tax (PBT) was also higher at N53.677billion in 2022, up by 112.88percent from N25.215billion recorded in 2021, while the bank’s profit after tax (PAT) for the year 2022 at N46.724billion was 102.2percent higher than N23.104billion profit it recorded in 2021.

Its earnings per share (EPS) basic and diluted increased to 161kobo in 2022 from 80kobo in 2021. Fidelity Bank’s total asset in FY’2022 stood at N3.989trillion, up by 21.76percent from N3.276trillion in 2021.

In the review financial year 2022, the bank’s Earning Assets make up a significant portion of the bank’s total assets. For instance, as of December 31, 2022, Earning Assets were N2.64 trillion (2021: N2.22 trillion). The bank’s net loan balance in 2022 stood at N2.116 trillion (2021: N1.66 trillion). This value represents 55percent (2021: 52percent) of the total assets as at the reporting date. Deposits from Fidelity Bank customers increased to N2.580trillion in 2022 from N2.024trillion recorded in 2021.

Dividend                                                                                                        

The bank’s Board of Directors proposes a final dividend of 40kobo per share which in addition to the 10kobo per share as interim dividend amounts to 50kobo per Ordinary Share (2021: Dividend of 35kobo per Ordinary Share.

Stocks seen outperforming the market

Fidelity Bank shares have been on investment analysts stock picks. The share price at N5.3 had reached a 52-week high of N6.03 as against 52-week low of N2.87. The bank shares price has yielded about 21.8percent return this year, confirming analysts BUY rating as a value stock.

Awards and recognitions

In recognition of its product innovation and sound corporate governance standards, the bank was recognised by several local and international award agencies.  These include: Bank of the Year 2021 by Leadership Newspaper, Best Banking or Insurance Website/Portal by the Nigeria Internet Registration Association (NiRA), Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards, DBN Platinum and Service Ambassadors Awards, and Global Finance’s World’s Best Private Banks 2023 awards for Best Private Bank in Nigeria and Best Private Bank Digital Solutions for Clients in Africa.

This year 2023, Fidelity won the following awards: Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards, Best Payment Solution Provider Nigeria 2023 in the 2023 Global Banking & Finance Awards, and Best Banking CEO Nigeria 2023 in the 2023 Global Banking & Finance Awards.

 

Source: Businessday.NG

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Lagos Task Force dislodges Ikorodu roadside traders

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Lagos Task Force dislodges Ikorodu roadside traders

Lagos Task Force dislodges Ikorodu roadside traders

 

 

In its continuous efforts to rid the state of the menace of street trading, operatives of the Lagos Environmental Sanitation Corps and the Kick Against Indiscipline, on Tuesday, dislodged roadside traders around Aunty Kenny in the Agric area of Ikorodu.

 

 

 

Lagos Task Force dislodges Ikorodu roadside traders

 

 

 

A statement by the Lagos State Ministry of the Environment and Water Resources said the dislodgement was part of measures to sustain zero tolerance for street trading in the state.

 

 

 

 

 

 

 

It read, “Operatives from the LAGESC/KAI on Tuesday dislodged recalcitrant street traders on the kerb at Aunty Kenny Agric on lkorodu Road as part of measures to sustain the zero tolerance for street trading.”

 

 

 

 

Similar enforcements were carried out on Monday at Oshodi-Mushin Road, Ojuelegba Road, Yaba-Muritala Muhammed Way, Oyingbo under the newly constructed bridge, inner and outer Marina-CMS, Victoria lsland and Lekki areas of the state, following directives of the Commissioner in the ministry, Tokunbo Wahab.

 

 

 

 

 

 

 

According to a statement, many of the defaulters were arrested in the course of enforcement and taken to the LAGESC/KAI headquarters where they were handed over to the appropriate section for interrogation and prosecution.

 

 

 

 

 

 

The commissioner also gave directives to operatives of LAGESC/KAI and other related agencies to sustain the dislodgment and ensure that the traders do not return to the areas

 

 

@Punchng

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FirstBank UK Adopts Bloomberg TOMS to Optimize Fixed Income Workflow

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FirstBank UK Adopts Bloomberg TOMS to Optimize Fixed Income Workflow

FirstBank UK Adopts Bloomberg TOMS to Optimize Fixed Income Workflow

 

 

 

London, 28 November 2023 — Bloomberg announced today that FirstBank UK Limited (FirstBank UK), the UK subsidiary of First Bank Nigeria Limited, the premier West African bank, has adopted Bloomberg’s Trade Order Management System (TOMS). By integrating TOMS into its workflow, FirstBank UK will have access to a comprehensive suite of data and analytics, communications, as well as order and execution management solutions, enabling it to streamline its fixed income bonds business.

 

 

 

 

 

 

FirstBank UK is a niche market-maker to its customers in Africa. The business provides market liquidity in cash bonds, primarily in Nigerian, Angolan, Egyptian and Ghanaian Eurobonds to manage risk and optimize its inventory. Thanks to Bloomberg’s coverage, TOMS enables the trading desk of FirstBank UK to support its client base and to monitor its positions, profit and loss (P&L) and Risks.

 

 

 

 

 

 

“By integrating with our existing systems, Bloomberg TOMS provides FirstBank UK with a complete end-to-end trading workflow covering African bonds in most of our home markets,” said Olukorede Adenowo, CEO-designate at FirstBank UK.“ The solution enables us to focus on expanding our footprint in the African Fixed Income landscape and deliver a first-in-kind service to our customers in Africa.”

 

 

FirstBank UK Adopts Bloomberg TOMS to Optimize Fixed Income Workflow

 

 

“We are pleased to help FirstBank UK enhance operational efficiency across its enterprise with our award-winning sell-side order management solution TOMS,” said Lisa Bravo, Global Head of Sell-Side OMS at Bloomberg. “TOMS empowers firms to create a seamless workflow from their front and middle-office, through to their operations and enterprise applications, while concurrently delivering their front office users with real-time execution, risk and P&L analytics.”

FirstBank UK has further digitized its order management workflow by offering clients access to liquidity on its own Eurobond Single-Dealer Platform. The application has been integrated with Bloomberg TOMS to centralize both order handling and aggregated custom analytics and liquidity tools within a single interface, to be hosted and connected to multiple trading venues. “The integration of TOMS with our custom-built electronic trading platform, allows our customers real-time access to liquidity in our markets, something unique to the majority of our customers,” said Robert Hagenaars, Head of Markets at FirstBank UK.

For additional information about Bloomberg’s sell-side solutions, please click here.

About Bloomberg
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

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Overcoming Property Ownership Fears with Adron Homes: Your Pathway to Affordable Real Estate

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Overcoming Property Ownership Fears with Adron Homes: Your Pathway to Affordable Real Estate

Overcoming Property Ownership Fears with Adron Homes: Your Pathway to Affordable Real Estate

 

Embarking on the journey to becoming a property owner can be a daunting ambition. The fears of finding reliable, secure, and affordable real estate, coupled with the worry of paying a hefty lump sum and potentially missing out on your dream home, often hold people back. However, fear not! We at Adron Homes; are strategically positioned to provide solutions to these common concerns, ensuring that your path to homeownership is smooth, secure, and affordable.

 

 

 

Many individuals hesitate to invest in property due to financial concerns, worried about the burden of a large upfront payment. We understand the financial concerns associated with property acquisition, hence our affordable payment plans which are designed to ease this burden, making your dream property within reach without compromising your financial stability.
 

 

Overcoming Property Ownership Fears with Adron Homes: Your Pathway to Affordable Real Estate

We understand that the real estate market can be unpredictable, causing concerns about the reliability and security of your investment. With over Eleven years of impact in the real estate industry, we at Adron Homes take pride in our reputation for reliability and security. With a diverse portfolio of estate locations across the country, we assure you that each property is carefully planned and developed to meet the highest standards. Your investment with us is backed by a track record of excellence, void of land disputes, land grabbers popularly known as Omo Oniles, encumbrances, and improper documentation.

Afraid of missing out on your preferred property or location due to the competitive nature of the real estate market? “We have got you covered!” Our extensive range of estate locations ensures that regardless of background, class, or occupation, everyone has options that cater to their dream. Whether you envision a home in the bustling city or a serene suburban retreat, Adron Homes has a property for you. With locations in Ibeju-Lekki, Epe, Badagry, Ede Osun, Ado Ekiti, Shimawa, Atan-Ota, Ikorodu, Shagamu, Papalanto, Ijebu Ode, Abeokuta, Ibadan, Abuja, Nasarawa, Jos and Niger, you’re sure to find the perfect place to buy land.
We understand that the intricacies of the real estate process can be overwhelming, sometimes leading to uncertainty. We recognize that the real estate journey can be complex, especially for first-time buyers. Our dedicated team of realtors is committed to guiding you through every step. Whether you prefer reaching out via social media platforms or a direct call via the contact numbers on our website, Adron Homes ensures personalized assistance, making the process transparent and accessible.
With our Lemon Friday Promo, it’s time to face your fears and take that step toward homeownership with confidence. Adron Homes is your trusted partner in making property dreams a reality. Don’t let fears hold you back – enjoy 30%, 40%, and 50% discounts on any of our landed properties across the country with 36 months, 24 months, and 12 months payment plans respectively.
Becoming a property owner is a significant milestone, and Adron Homes understands the fears that may accompany this journey. Through affordable payment plans, diverse locations, property options, and unwavering reliability, we are daily driven to alleviate these concerns. Trust us at Adron Homes to be your partner in turning the dream of homeownership into a seamless and enjoyable reality.

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