In an increasingly uncertain macroeconomic environment, Fidelity Bank Plc has remained appealing in the banking sector. This is evident in its full year
2022 financial results which showed a better-than-expected performance amid the headwinds in the economy.
Fidelity Bank’s profit after tax for the year under review stood at N46.724 billion, higher than the N23.104 billion it realised in 2021. Additionally, its total assets increased to N3.989 trillion in 2022, up from N3.278 trillion in 2021. On the back of an impressive first half 2022 results, Fidelity Bank had declared an interim dividend payment of 10 Kobo per 50 Kobo ordinary share, subject to appropriate withholding tax, to shareholders whose names appear in the Register of Members as at the close of business on September 12, 2022.
In August 2022, Fidelity Bank informed the public of its proposed acquisition of Union Bank United Kingdom as part of its expansion plans and in line with regulatory stipulations. The bank’s plans to acquire a 100 per cent stake in Union Bank UK marked its first foray into the international market. It also organised the Fidelity International Trade and Creative Connect , which is the largest trade exhibition by Nigerian-based businesses in the United Kingdom in recent times. It was a major move in increasing Nigeria’s foreign exchange earnings.
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