Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,062 members, 7,956,963 topics. Date: Tuesday, 24 September 2024 at 12:27 AM |
Nairaland Forum / Nairaland / General / Business / Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months (3515 Views)
Wema Bank Grows Profit By 131% In Q3, 2023 / Sterling Bank Grows Profit After Tax By 65% To N8.521bn / Zenith Bank Grows Nine Months Profit By 36% To N130bn (2) (3) (4)
Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by mzirawo: 7:46am On Aug 31, 2017 |
FIDELITY BANK GROWS PROFIT AFTER TAX BY 66% TO N9BN IN 6 MONTHS source : http://www.eyesoflagos.com/2017/08/fidelity-bank-grows-profit-after-tax-by.html Shareholders of Fidelity Bank Plc should expect a bounteous harvest at the end of the current year given its impressive performance for the half year (H1) ended June 30, 2017. According to reports gathered by Eyes Of Lagos, The results released to the Nigerian Stock Exchange (NSE) wednesday showed that Fidelity Bank Plc posted gross earnings of N85.8 billion in H1 of 2017, up 22 per cent from N70.2 billion recorded in the corresponding period of 2016. Interest income grew by 27.8 per cent, while interest expenses grew faster by 48 per cent to hit N38.2 billion compared with 25.7 billion in 2016. As a result, net interest income stood at N34.7 billion in 2017 compared with N31.2 billion, indicating a rise of 11 per cent. Impairment charges remained flat at N4.8 billion in 2017 as against N4.79 billion in 2016. Despite the high inflationary trend, the bank reduced operating expenses by 1.7 per cent to N30.9 billion, from N31.4 billion in the corresponding period of 2016. Consequently, profit before tax (PBT) rose by 66.6 per cent to N10.2 billion, from N6.131 billion in 2016, while profit after tax (PAT) improved by 65.6 per cent from N5.457 billion to N9.04 billion in 2017. Earnings per share similarly improved to 31 kobo as against 19 kobo in 2016. When the Fidelity Bank opened the 2017 with similar double digit growth in the first quarter, its managing director/CEO, Mr. Nnamdi Okonkwo had attributed the performance to the disciplined execution of its medium-term strategy and a business model that enables the bank to continue to deliver improved performance in line with its 2017 financial year targets. “Gross earnings growth was driven by a combination of increased yields on earning assets and an absolute growth in the volume of earning assets which led to growth in interest income,” he had said. Speaking on the cost efforts to reduce costs, he said the cost optimisation initiatives continued to deliver cost savings. “We will continue to optimise our cost profile without impacting service delivery through the disciplined execution of the initiatives from our recently completed business optimisation project,” Okonkwo had assured. Meanwhile, trading at the stock market closed on bearish note yesterday for the third consecutive day as profit taking activities continued. The Nigerian Stock Exchange All Share Index (NSE ASI) depreciated by 1.48 per cent to close at 35,629.13 to reduce the year-to-date appreciation to 32.5 per cent. 2 Likes 1 Share
|
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Tolbanks(f): 8:26am On Aug 31, 2017 |
That's great! Kudos to Fidelity Bank. FTC the third time today! Lalastica! Abeg, where is my bonus today ooo? At least i try na |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Nobody: 8:26am On Aug 31, 2017 |
Awesome. |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Ijaya123: 8:27am On Aug 31, 2017 |
Buhari why? -ipob miscreants The wise keep progressing while the fools keep complaining |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by hatchy(f): 8:27am On Aug 31, 2017 |
Why won't it grow 200% when all they do there is to deduct money from people's account. This bank will give you interest of 1000 and deduct 2800 from same account all in the name of service charge and other hidden charges. This is the most useless and thieving bank ever seen in Nigeria. Let them take the six thousand left in my account since 2010,I dash them. 8 Likes |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Nobody: 8:28am On Aug 31, 2017 |
Igbo owned banks and success are like 5 and 6. You see the same success with Diamond, Zenith, UBA, e.t.c. 6 Likes 1 Share
|
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by danemenike: 8:29am On Aug 31, 2017 |
Hh |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by firstclassmumu: 8:29am On Aug 31, 2017 |
Hmm |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by firstclassmumu: 8:30am On Aug 31, 2017 |
liberalsinnerx:gerarahere 1 Like |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Nobody: 8:31am On Aug 31, 2017 |
Crooks at every corner... |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Tolbanks(f): 8:33am On Aug 31, 2017 |
hatchy: Pele tie |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by gentlegg(m): 8:34am On Aug 31, 2017 |
While GTB posted over 100billion profit in 6months, poor Fidelity. 4 Likes |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by domopps(m): 8:36am On Aug 31, 2017 |
If the giant of first bank could doctored their report .....how much more fidelity They declared wooping profit yearly yet they are laying off hundreds of staff members now relate the 2 scenario together and tell me where their PBT comes to play Cheers |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by cstr1000: 8:37am On Aug 31, 2017 |
liberalsinnerx:no cause wahala for the owners. The fear of igbo dominance is real o. |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by kolaish(m): 8:38am On Aug 31, 2017 |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by legalweb(m): 8:38am On Aug 31, 2017 |
This bank is small but mighty. Good work.
|
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Nobody: 8:42am On Aug 31, 2017 |
cstr1000: They dominating the financial system like their jewish brothers who control the world financial system |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Abudu2000(m): 8:49am On Aug 31, 2017 |
Hushpuupy's bank |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by doubledutch(f): 8:52am On Aug 31, 2017 |
hatchy:Hahahahah! Six tasand is a lot of money this period o! Bros dash me the money na.Make I send my account to you biko. |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Luckyir(m): 8:53am On Aug 31, 2017 |
why would they make profit after all the deductions from the use of ATM and all illegal deductions |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Greatgrandson(m): 8:56am On Aug 31, 2017 |
Yeye banks robbing people since the days of Azikiwe. Banks are worse than MMM just that their ponzi is official. 1 Like
|
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by CellTabRepair20: 8:59am On Aug 31, 2017 |
Them try well well.... 'Ember' Months are here. Did you finally get that job yet? Before the year ends U can still make real cool cash fixing high-end stuff. Get "Mobile Phones and Tablets Repairs: A Complete Guide..." book and see how useful it is for your training Click link below |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by shedy03(m): 9:01am On Aug 31, 2017 |
danemenike:nice one Engr |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Sheun001(m): 9:17am On Aug 31, 2017 |
hatchy: God bless u my brother stupid set of criminals without performing any transaction they'll deduct money they are bunch of thieves BTW that six thousand you fit reason me small there oh 1 Like |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by chakula: 9:32am On Aug 31, 2017 |
The bank that is not able to pay the staff their right no wonder they are out with this nonsense report. |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by hatchy(f): 9:34am On Aug 31, 2017 |
Sheun001:Hahahahah! You sef, pity me na! |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Sheun001(m): 10:02am On Aug 31, 2017 |
hatchy: lol how sallah be for that side nah heard people are buying chickens and some buy ordinary egg instead of ram this year |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by ExInferis(m): 10:07am On Aug 31, 2017 |
Nine billion PROFIT. After tax. In 6 months. In this moribund economy. What activity are these banks engaged in, drugs? 1 Like |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by agrovick(m): 10:36am On Aug 31, 2017 |
We are fidelity, we keep our word 1 Like |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by FunmyKemmy(f): 12:54pm On Aug 31, 2017 |
Wow! waiting for dividend... 1 Like |
Re: Fidelity Bank Grows Profit After Tax By 66% To N9bn In 6 Months by Chukazu: 3:23pm On Aug 31, 2017 |
hatchy: All Nigerian banks are virtually the same... Veritable conduit of corruption |
(1) (Reply)
Exposed Market Where Human Meat Is Sold In London - Watch Video / Stock Market Investors’ Lose N220b Ahead Of Eid-el-kabir Celebration / Where Can I Get Tricycles(keke Napep) To Buy In Benin?
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 58 |