N189bn gross earnings mean sustained performance trajectory—Fidelity Bank
The Chief Executive Officer of Fidelity Bank Plc., Mr. Nnamdi Nwankwo, has linked the bank’s released 2018 financial year results which presented N189bn gross earnings to a sustained performance trajectory.
In a statement, the bank said the figure represented 4.8 per cent increase over the N180.2 billion recorded in the previous year.
The bank’s pre-tax profit jumped by 30.6 per cent to N25.1 billion as against the N19.2 billion posted in 2017, while profit after tax was up 29 per cent to N22.9 billion, compared with N17.7 billion recorded in the preceding year., while operating income rose by 13.9 per cent, from N85.9 billion, to N97.2 billion.
Besides, customer deposit, which is a measure of consumer confidence, rose by 26.3 per cent from N775.2 billion, to N979.4 billion, just as total Assets grew by 24 per cent, from N1.4 trillion to N1.7 trillion.
In line with the promising results, the bank is proposing a total divided of N3.2 billion to its shareholders which translated to 11k per share.
Explaining more on the bank’s performance, Okonkwo averred that “We are delighted by our 2018 numbers, which clearly shows au sustained performance trajectory. We are growing our market share with continued traction in our chosen business segments.”