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Fidelity Bank Grows Profit By 604%, Declares N0.21 kobo Dividend

By on April 16, 2013

Fidelity Bank has released its 2012 audited financial statements, reporting an increase in profitability over the period year to the tune of 604%.

The company also declared a dividend of N0.21 which is to be paid on the 21st of May, 2013.

Headline earnings came in at N78.9 billion, up 60% from N49.5 billion in the previous year.

The company also reported a profit from the sale of a subsidiary to the tune of N782 million.

Net income was N18.2 billion, up over 600% from N2.58 billion in the previous year.

The company’s loan book grew to N345.5 billion, up 23.7% from the N279.2 billion at the end of the 2012 financial year.
The company’s Annual General Meeting is scheduled to take place at the Transcorp Hilton on the 21st of May.