Fidelity Bank grows Profit Before Tax by 112.9% to N53.7bn 2022    

• declares per share dividend of 50K

Fidelity Bank Plc, a leading financial institution released its 2022 Audited Financial Statements on the Nigerian bourse today. The results showed a 34.4 per cent growth in Gross Earnings YoY to N337.1 billion year-on-year, driven by 45.2 per cent growth in interest and similar income to N295.6 billion.

The increase in Interest Income was led by a combination of improved yield on earning assets and 19.1 per cent YoY expansion in earnings base to N2.64 trillion. This led to a Profit Before Tax of N53.7 billion representing 112.9 per cent annual growth.

Commenting on the Bank’s impressive performance, Nneka Onyeali-Ikpe, MD/CEO of Fidelity Bank Plc 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.”