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Market Digest Nigeria

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Fidelity Bank releases Q1 financial result

financial result

Fidelity Bank Plc has released their financial result for first quarter ended  31 March , 2019. The Bank recorded N48, 443 million as Gross Earnings, this is an increase from N43, 328 million in 31 March 2018.

The PBT increased from N4, 982 million to N6,674 million. Meanwhile the bank had recorded N22,926 profit for the year ended 31 December, 2018. The Profit recorded also increased from N4,627 million recorded in 31 March, 2018 to N5,939 million in 31 March, 2019.

The Bank also increased loans and advances to customers from N738,727 million in 2018 to N966,254 million in 2019. Deposits from customers increased to N 1,016,999 from N859,358 in 2018. The bank’s operational cost was reduced from N94,490 million to N63,929 million.

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