• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, August 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Fidelity Bank Profits Before Tax Hits N25bn  

by Olushola Bello
3 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

Fidelity Bank Plc, has posted N25.079 billion profit before tax in its first half (H1) of 2022.

Advertisement

Also, the board of the Bank proposed an interim dividend of N2.898 billion, amounting to 10 kobo per share. This makes the Bank its first time of paying an interim dividend in its 34 years history.

The bank’s H1 results released on the Nigerian Exchange (NGX) showed profit before tax growth of 21.58 per cent from N20.628 billion in H1, 2021 to N25.079 billion in the period under review.

Gross Earnings of the bank increased by 37.9 per cent to N154.8 billion on account of 52.9 per cent growth in interest income to N136.2 billion from N89.1 billion in H1 2021.

Similarly, Net Interest Margin improved to 6.4 per cent from 4.7 per cent in 2021 full year, due to a combination of improved yields on average earning assets and a decline in average funding cost.

RELATED

GTCO Declares Pre-tax Profits Of N300.4bn In Q1

GTCO Crosses N500bn Capital Base With Fresh Fund Injection

8 hours ago
JUST-IN: Federal Gov’t Increases Mining Fees, Royalties To Be Paid Operators

Scholarship Beneficiaries Seek Minister’s Intervention Over Mining In Community

8 hours ago
ADVERTISEMENT

Average yields on earning assets increased by 211bps YoY to 11.5 per cent while average funding cost declined by 84bps to 4.0 per cent YoY, which resulted in 50.4 per cent growth in net interest income to N75.6 billion.

Also, the bank grew total deposits by 13.1 per cent year-to-date (YTD) to N2.29 trillion from N2.02 trillion in 2021 full year, driven by double-digit growth in low-cost deposits.

Low-cost deposits increased by 26.1 per cent YTD to N1.90 trillion.

ADVERTISEMENT

Speaking on the resuults, the CEO of Fidelity Bank, Mrs. Nneka Onyeali-Ikpe, said: “we are delighted with our H1 2022 performance which showed strong growth across key performance indices.

“With improved efficiency and customer experience around our network, customer transactions have grown considerably as we optimize our balance sheet and build up a large stock of stable low-cost deposits.”

Also, on the proposed acquisition of Union Bank UK, Onyeali-Ikpe said: “we recently executed a binding agreement for the acquisition of 100 per cent equity stake in Union Bank UK Plc in line with our strategic objectives and business expansion drive. Union Bank UK offers a compelling synergy we hope to build on, to create a scalable and more sustaining service franchise that will support the wider ecosystem of our trade businesses and diaspora banking services.”

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 6.5 million customers serviced across its 250 business offices and digital banking channels. Fidelity Bank Profits Before Tax Hits N25bn

 


Join Our WhatsApp Channel



SendShare10170Tweet6357Share
ADVERTISEMENT
Previous Post

DSCHC, PharmAccess Harps On Gains Of Public-Private-Partnership In Delta State Health Sector

Next Post

Interswitch Seeks Collaboration To Reduce 85% Cash Economy Dependence

Olushola Bello

Olushola Bello

You May Like

GTCO Declares Pre-tax Profits Of N300.4bn In Q1
Business

GTCO Crosses N500bn Capital Base With Fresh Fund Injection

2025/08/30
JUST-IN: Federal Gov’t Increases Mining Fees, Royalties To Be Paid Operators
Business

Scholarship Beneficiaries Seek Minister’s Intervention Over Mining In Community

2025/08/30
Business

Budget Office Explains Delay In Budget Implementation Reports

2025/08/30
T2, Huawei Ink Multi-Million Dollar Deal For Core Network Overhaul
Business

T2, Huawei Ink Multi-Million Dollar Deal For Core Network Overhaul

2025/08/30
Maltina Rolls Out New PET Bottles
Business

Maltina Rolls Out New PET Bottles

2025/08/30
Abia Think Tank Calls For Govt Accountability, Inclusivity
Business

Abia Govt To Revive Moribund Industries In Aba

2025/08/30
Leadership Conference advertisement

LATEST

Cremonese Finalise Loan Deal For Brighton’s Jeremy Sarmiento

Police Arrest Suspected Cultist For Alleged Rape In Akwa Ibom

Police Arrest 2 Suspects, Recover 26 Stolen Phones, PoS Terminals In Kano

Zelensky Reacts As Ex-Ukrainian Parliament Speaker Parubiy Shot Dead

Gov Okpebholo Rescues 10 Accident Victims On Benin–Auchi Highway

JUST-IN: Israeli Airstrike Kills Houthis Prime Minister In Yemen

India Submits Bid To Host 2030 Commonwealth Games

284,000 People Declared Missing Worldwide, Says Red Cross

Man Utd Agree Napoli Loan Deal For Hojlund

North-East Govs Call For Multidimensional Approach To Tackle Region’s Insecurity

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.