Fidelity Bank PBT hits N30bn, plan N5.8bn dividends payout

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Fidelity Bank Plc’s 2019 results released on Monday at the Nigerian Stock Exchange showed growth across key income and balance-sheet lines.

Gross Earnings grew by 14 per cent to N215.5bn from N189bn in 2018, while profit before tax rose by 21per cent to N30.4bn compared with N25.1bn recorded in the previous year. Similarly, its net profits were said to have surged by 24 per cent from N22.9bn from 2018 in 2018 to N28.4bn in 2019.

Buoyed by the performance, the bank said it planned to pay a dividend of 20 kobo per share translating to N5.8bn compared to the dividend of 11 kobo paid in 2018.

Commenting on the results, the Fidelity Bank’s Chief Executive officer, Mr Nnamdi Okonkwo, said, “We are delighted at the results which clearly showed that we sustained our performance trajectory and continued to increase our market share driven by significant traction in our chosen business segments.”

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