Fidelity Bank PLC has reported a pre-tax profit of N200.8 billion for the first half of 2024, which is a 163.1% increase compared to the same period last year. This strong result shows the bank’s dedication to providing good returns for its shareholders.
The bank’s total income grew by 107.6% compared to last year, reaching N512.8 billion. This growth was mainly due to higher interest income and fees. The bank’s net interest income increased by 202.7% to N326.4 billion, and its fee and commission income rose by 45.2% to N35 billion.
Fidelity Bank’s total assets increased by 27.2% to N7.9 trillion, with cash and cash equivalents growing by 95.9% to N801.7 billion. The bank’s earnings per share (EPS) also increased significantly, rising by 157.8% to N4.9.
As part of its plan to reward shareholders, Fidelity Bank is offering an interim dividend of N0.85 for each ordinary share worth N0.50. This dividend will be paid to shareholders registered as of October 17, 2024.
