• Companies
  • Updated: January 31, 2023

Fidelity Bank Records N47 Billion Profit

Fidelity Bank Records N47 Billion Profit

Fidelity Bank Plc has released its unaudited financial statements for the year ending  December 31, 2022, which revealed a 32.6% increase in profit from the N35.579 billion recorded in the previous year to N47.163 billion.

The bank also recorded gross earnings of  N335.897 billion, which reflects a 33.9% increase when compared to the N250.774 billion recorded in 2021.

For the 2022 financial year, it recorded a 61.1% growth in net interest income from N94.877 billion to N152.813 billion recorded in the same period of the previous year.

During the period under review, Fidelity Bank reported a 60.4% decline in operating income from N17.803 billion recorded in 2021 to N7.044 billion.

Profit before tax also grew from N52.814 billion in 2021 to N85.825billion in 2022, indicating a 62.5% increase, while net profit after tax grew by 32.5% from N35.579billion in 2021 to N47.163 billion.

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