Connect with us


Fidelity Bank reports 102.2% profit growth, N337.05bn revenue



Fidelity Bank Plc generated N337.05 billion in revenue in 2022.

The figure was a 34.4 percent increase over the N250.776 billion recorded by the lender in the same period of 2021.

In its 2022 financial report seen by Ripples Nigeria on Monday, the bank reported a 60.94 percent growth in its Net Interest from N94.87 billion in 2021 to N152.695 billion last year.

Similarly, Fidelity Bank’s Profit After Tax rose by 102.2 percent from N23.104 billion in 2021 to N46.724 billion in 2022.

Earnings Assets accounted for 55 percent of the bank’s total assets last year, up from 52 percent in 2021.

READ ALSO: Fidelity Bank declares total dividend of 50K per share

The report read: “Fidelity Bank’s Earnings Assets stood at N2.64 trillion last year as against the N2.22 trillion for the previous year while the bank’s net loan balance in 2022 was N2.116 trillion (2021: N1.66 trillion).

The bank’s performance led the Board of Directors to propose a final dividend of N0.50 kobo per share as a shareholders’ reward for 2022.

This was N0.15 kobo higher than the N0.35 kobo shareholders got in 2021.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now