Here are the highlights of Fidelity Bank annual report 2018 as released to the Nigerian Stock Exchange.
- Total Asset increased by 25% from N1,379 billion in 2017 to N1,719 billion in 2018 FY
- Customer Deposit also increased significantly by 26% to N979 billion in 2018 FY.
- Loans and advances increased by 11.5% from N769 billion in 2017 to N849.8 billion in 2018.
- Profit before tax increased by 31% to N25 billion from N19 billion in 2017
- Net Interest income increased marginally by 2% to N69.59 billion in 2018 from N68.14 billion in 2017 financial year.
- Fees and Commission income also increased by 17% from N14.56 billion in 2017 to N17.06 billion in 2018 financial year.
Here is a look at Fidelity Bank annual report and 5 years financial performance
- Total Asset grew consistently over the five years period and had a very impressive growth in 2018 financial year with 25% growth, this was the bank’s highest yearly growth in 5 years. The bank was able to grow its Asset by 45% in 5 years.
- Fidelity was also able to grow its customer’s deposit by 19% between 2014 and 2018. The highest yearly growth again was in 2018 with a 26% increase in the bank’s depositors funds.
- The banks also grew its customer’s loans and advances by 57% in the last 5 years.
Fidelity Bank annual report
Fidelity has been consistent with increasing its profit in recent years haven dropped in profitability between 2014 and 2016 by 28%. The bank bounced back to growth in PBT in 2017 and 2018 growing by 126% between 2016 to 2018. The bank PBT increased by 62% in 5 year.