Fidelity Bank Records 21 Per Cent Increase In Total Assets

For the 2022 financial period, Fidelity Bank Plc has disclosed that it recorded a 21.6 percent increase in total assets from N3.3 trillion in 2021 to N4.0 trillion.

This was disclosed in the bank's financial report for 2022.

According to the report, the bank's Customer deposits increased by 27.4 per cent from N2.0 trillion in 2021 full year to N2.6 trillion. Net loans and advances rose by 27.6 per cent from N1.7 trillion in 2021 full year to N2.1 trillion in 2022. Total Assets grew by 21.6 per cent from N3.3 trillion in 2021 to N4.0 trillion in the period under review.

Speaking on the result, the chairman of Fidelity Bank, Mustafa Chike-Obi said: “When we set the audacious target of attaining Tier one status a few years ago, we did not expect a smooth ride due to the endemic challenges in our operating environment. 

“However, we were able to weather the storm because our business is built on a foundation of good corporate governance, effective risk management and shareholders’ value enhancement.”

Shareholders of the bank also approved N11.59 billion final dividend, representing 40 kobo per share for the year ended December 31, 2022.