Fidelity Bank Plc has released its latest audited financial statement and accounts to the investing public. A major highlight of the report is a
In one of the highest return growths in the stock market, Fidelity Bank, which set a personal record with its first interim dividend in 2022, is increasing cash dividends payable to shareholders for the 2022 business year from N10.137 billion in 2021 to N15.7 billion in 2022.
Gross earnings rose by 34.4 per cent in 2022 to N337.05 billion as against N250.78 billion in 2021. Segmental topline analysis showed that the bank’s performance was driven largely by its core commercial banking operations. After taxes, net profit rose from N23.10 billion to N46.72 billion, an increase of 102.2 per cent. With these, earnings per share rose correspondingly from 80 kobo in 2021 to N1.61 in 2022.Total assets touched the N4 trillion mark at N3.99 trillion in 2022 as against N3.28 trillion in 2021, an increase of 21.65 per cent. Customer deposits, which underlines public acceptance and market status, grew by 27.7 per cent from N2.02 trillion to N2.58 trillion.
Net profit margin also improved from 9.21 per cent to 13.86 per cent. Return on total equity- which denotes value creation as a business owned by shareholders, grew from 8.1 per cent in 2021 to 14.86 per cent in 2022.
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