Companies
Updated: January 31, 2023

Fidelity Bank Records N47 Billion Profit

By Felicia Abisola Olamiji
January 31, 2023
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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.