Fidelity Bank Records 112 Percent Increase In Profit

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For the 2022 financial period, Fidelity Bank has revealed that it recorded a profit before tax of N53.7 billion, representing 112.9 per cent annual growth.

It said this in a statement on Thursday in its 2022 audited financial statements.

According to the bank, its gross earnings rose by 34.4 per cent Year-on-Year to N337.1 billion in the 2022 financial period, driven by 45.2 per cent growth in interest and similar income to N295.6 billion.

Commenting on the bank’s performance, the Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nneka Onyeali-Ikpe, said, “We are happy to report another year of impressive double-digit growth across key income and balance sheet lines.

“This validates our growth strategy and capacity to deliver superior returns to shareholders.”

Further review showed that net interest income increased by 60.9 per cent YoY to N152.7 billion.

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