Fidelity Bank reports a 28.5% increase in profit for FY 2019

Earlier today, Fidelity Bank Plc announced its unaudited financial reports for the period ended December 31st, 2019. See the breakdown below. 

Gross Earnings: The company’s gross earnings for the period stood at N217.3 billion, indicating a 15% increase compared to N188.8 billion that was reported during the comparable period in 2018. 

Net Interest Income: There was a 12% increase in net interest income which stood at N82.1 billion. During the comparable period in 2018, the company’s net interest income was N73.3 billion. 

Profit before income tax for the period is N32.3 billion, compared to N25 billion that was recorded in 2018. This represents a 29% increase. 

In the same vein, profit for the period increased by 28.5% to N29.5 billion, compared to N22.9 billion profit earned by the company in 2018. 

As always, you may download the full report here.