Wednesday, March 29, 2023
The Witness Newspaper
No Result
View All Result
  • Home
  • News
  • The Nation
  • Business
  • Politics
  • Investigation
  • Opinion
  • Sports
  • Entertainment
  • South Witness
  • World
  • Health
The Witness Newspaper
No Result
View All Result
Home Business

Fidelity Bank grows profit to N52 billion for FY 2022

Stanley Osariemen by Stanley Osariemen
February 1, 2023
in Business
Fidelity Bank grows profit to N52 billion for FY 2022

Nneka Onyeali-Ikpe

Share on FacebookShare On WhatsappShare On Twitter

Fidelity Bank Plc has announced an impressive growth in Profit Before Tax to N52 bn for the Full Year 2022. This was made known in the Bank’s unaudited statement of account presented to the Nigerian Exchange (NGX) on Wednesday, 31 January 2023.

According to the regulatory filing, the bank grew Gross Earnings by 33.9% to N335.897 billion (from N250.774 billion in FY 2021) and Net Interest Income by 61.1% to N152.813 billion (from N94.877 billion in FY 2021) leading to a Profit After Tax of N47.163billion for FY 2022 (from N35.579billion in FY 2021).

READ ALSO

NNPC to boost oil reserves to 50bn barrels

FY’22: Zenith Bank declares N945.5bn gross earnings

Similarly, Total Assets for the Bank now stand at N3.999trillion (from N3.289trillion in FY 2021) and Deposit from Customers is now at N2.591trillion (from N2.024trillion in FY 2021).

Analysts posit that this is yet another strong showing for the tier-one bank having sustained impressive performance year-on-year even in the face of the headwinds in the economy. Despite growing its Gross Earnings at an impressive rate, the bank has managed to record one of the lowest Non-Performing Loans (NPL) ratios in the Nigerian banking industry, for instance.

Tags: Fidelity Bank 2022 resultsFidelity Bank grows profit to N52 billion for FY 2022Nneka Onyeali-Ikpe

Related Posts

NNPC to boost oil reserves to 50bn barrels
Business

NNPC to boost oil reserves to 50bn barrels

March 29, 2023
FY'22: Zenith Bank declares N945.5bn gross earnings
Business

FY’22: Zenith Bank declares N945.5bn gross earnings

March 29, 2023
Air Peace to commence direct flight from Nigeria to Israel in April
Business

Air Peace to commence direct flight from Nigeria to Israel in April

March 27, 2023
Gombe, Jigawa, Sokoto top list of easiest states to do business in Nigeria
Business

Gombe, Jigawa, Sokoto top list of easiest states to do business in Nigeria

March 27, 2023
Wema Bank holds financial literacy programme for students to mark 2023 Global Financial Literacy Day
Business

Wema Bank holds financial literacy programme for students to mark 2023 Global Financial Literacy Day

March 24, 2023
First Bank opens application for its Management Associate Programme
Business

First Bank opens application for its Management Associate Programme

March 23, 2023
Next Post
FCMB declares N32.59bn profit for Q4 2022

FCMB declares N32.59bn profit for Q4 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories

  • Business
  • Entertainment
  • Health
  • Inside Nigeria
  • Investigation
  • Lifestyle
  • Opinion
  • Politics
  • Southern Witness
  • Sports
  • The Nation
  • The News
  • World

Recent Posts

  • JUST IN: There’s plot to install interim government, says DSS
  • BREAKING: DSS ‘uncovers’ plot to stop Tinubu’s inauguration, form interim govt
  • 27-old-man arrested for raping 9-month-old baby
  • EFCC kicks as Yahaya Bello pleas for immunity over forfeiture of 14 properties, N400m
  • Explain to Nigerians why BVAS failed to work during presidential election, CSOs tell INEC
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
  • Terms and Conditions

Copyright © 2022 The Witness Newspaper | All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • The Nation
  • Business
  • Politics
  • Investigation
  • Opinion
  • Sports
  • Entertainment
  • South Witness
  • World
  • Health

Copyright © 2022 The Witness Newspaper | All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.