Fidelity Bank Plc has announced an impressive growth in profit before tax to N52 billion for 2022.
This is contained in the bank’s unaudited statement of account presented to the Nigerian Exchange (NGX).
According to the report, the gross earnings grew by 33.9% to N335.897 billion, up from N250.774 billion reported in 2021.
During the period in review, net interest income grew N152.813 billion (61.1%), up from N94.877 billion in 2021), while PAT grew from N35.579 billion in 2021 to N47.163 billion in 2022
Similarly, total assets for the bank increased to N3.9 trillion from N3.28 trillion in 2021) while deposit from customers now stands at N2.591 trillion as against N2.024 trillion 2021.
Analysts say the performance “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.
