2017 Results: Fidelity Bank Plc records 94% increase in profits

Fidelity Bank Plc today released its financial statements for the year ended December 2017.

Here are the key highlights of the results;

Revenue

Fidelity recorded Gross earnings of N180 billion for the year ended December 2017 compared to N152 billion reported for the year ended December 2016. This represents a 18% increase year on year.

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Profit Before Tax

Profit before tax for the company was N20.3 billion for the year ended December 2017, a 83% increase from the ₦11.1 billion reported for the period ended December 2017.

Profit After tax

The Group’s profit after tax for the year ended December 2017 was N18.86 billion compared to N9.73 billion recorded a year earlier. This represents a 94% increase year on year.

Earnings Per Share

Fidelity Plc also reported earnings per share of 65 kobo for the year compared to 35 kobo reported as at the year ended December 2016. This represents a 86% increase year on year.