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Fidelity Bank: Highly Impressive PBT Of N52Bn Against The Backdrop Of Lowest NPL Ratio in The Nigerian Banking Industry

The Oasis Reporters

February 1, 2023







Mrs Nneka Onyeali-Ikpe (GMD/CEO), Fidelity Bank PLC

PBT of N52bn in unaudited statement

Gross Earnings rises by 33.9% to N335.897 billion (from N250.774 billion in FY 2021)

Net Interest Income by 61.1% to N152.813 bn (from N94.877 bn in FY 2021)

PAT of N47.163bn for FY 2022 (from N35.579bn in FY 2021)

Fidelity Bank Plc has announced an impressive growth in Profit Before Tax to N52 bn for the Full Year 2022. This was made known in the Bank’s unaudited statement of account presented to the Nigerian Exchange (NGX) on Wednesday, 31 January 2023.

According to the regulatory filing, the bank grew Gross Earnings by 33.9% to N335.897 billion (from N250.774 billion in FY 2021) and Net Interest Income by 61.1% to N152.813 billion (from N94.877 billion in FY 2021) leading to a Profit After Tax of N47.163billion for FY 2022 (from N35.579billion in FY 2021).

Similarly, Total Assets for the Bank now stand at N3.999trillion (from N3.289trillion in FY 2021) and Deposit from Customers is now at N2.591trillion (from N2.024trillion in FY 2021).

Analysts posit that this is yet another strong showing for the tier-one bank having sustained impressive performance year-on-year even in the face of the headwinds in the economy.

Despite growing its Gross Earnings at an impressive rate, the bank has managed to record one of the lowest Non-Performing Loans (NPL) ratios in the Nigerian banking industry, for instance.

Greg Abolo

Blogger at The Oasis Reporters.

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