Fidelity Bank Records 2.2% Profit Growth | Independent Newspapers Limited
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Fidelity Bank Records 2.2% Profit Growth

Posted: Oct 31, 2015 at 8:45 am   /   by   /   comments (0)

Fidelity Bank Plc says its profit after tax in the third quarter grew by 2.2 per cent to N11.445 billion from N11.247 billion in 2014.

The bank said this in its unaudited report to Nigeria Stock Exchange (NSE) on Friday in Lagos.

The bank also said that it recorded a gross earnings growth of 11 per cent to close at N106.6 billion from N96.0 billion recorded in the corresponding period of 2014.

It added that it’s net interest income increased 10.8 per cent to N40.6 billion against the N36.7 billion achieved in third quarter of 2014.

The bank’s profit before tax rose by three per cent or N13.8 billion from N13.4 billion recorded in third quarter 2014.

Basic earnings per share increased two per cent to N1.58 kobo from N1.55 kobo, while net assets increased seven per cent to N180.340 billion from N168.629 billion.

Its share was last traded on the NSE at N1.38 0.02 kobo, 1.43 per cent lower than its previous N1.40.