Fidelity Bank reports 12.3% increase in gross earnings

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Fidelity Bank Plc reported a 12.3% increase in its gross earnings for the half-year period ended June 30, 2019.

This was disclosed in the company’s H1 2019 financial statements published earlier today on the Nigerian Stock Exchange’s website.

The bank’s gross earnings for the period stood at N103.6 billion, compared to N92.2 billion recorded in 2018, representing a 12.3% increase.

Profit before tax went up by 15.6% to N15 billion during the period under review, compared to N13 billion in June 2018, while profit after tax stood at N13.6 billion as against N11.8 billion which was recorded during the same period in June 2018; representing a 15.5% increase.

Earnings per share (EPS) stood at N41 in 2018 compared to N47 in 2019.

Major assets were derived from Cash and balances with Central Bank, due from banks, loans, and advances to customers.

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