Fidelity Bank Plc, has again posted another impressive financial performance for the nine months period ended September 30, 2017.
Details of the lender’s nine months financial results released at the Nigerian Stock Exchange (NSE) Monday showed growth in key revenue lines and improved efficiency and regulatory ratios.
A statement by the bank said gross earnings grew by 17.9 per cent to N130.1 billion, from N110.3 billion reported in the same period in 2016 while profit before tax rose by 65.1 per cent, from N9.8 billion to N16.2 billion.
“We are delighted with our nine months financial performance which showed strong growth in key revenue lines and a corresponding decline in our operating expenses, despite the high inflationary environment,” said Mr. Nnamdi Okonkwo, Fidelity Bank CEO.
He attributed the consistent delivery of strong financial results to the disciplined execution of the bank’s medium term strategy, which centred on optimal balance sheet management, strategic cost reduction and increased play in the digital and retail banking space.
READ MORE
Fidelity Bank Grows Profit by 65%, Records PBT of N16.2bn
Details of the lender’s nine months financial results released at the Nigerian Stock Exchange (NSE) Monday showed growth in key revenue lines and improved efficiency and regulatory ratios.
A statement by the bank said gross earnings grew by 17.9 per cent to N130.1 billion, from N110.3 billion reported in the same period in 2016 while profit before tax rose by 65.1 per cent, from N9.8 billion to N16.2 billion.
“We are delighted with our nine months financial performance which showed strong growth in key revenue lines and a corresponding decline in our operating expenses, despite the high inflationary environment,” said Mr. Nnamdi Okonkwo, Fidelity Bank CEO.
He attributed the consistent delivery of strong financial results to the disciplined execution of the bank’s medium term strategy, which centred on optimal balance sheet management, strategic cost reduction and increased play in the digital and retail banking space.
READ MORE
Fidelity Bank Grows Profit by 65%, Records PBT of N16.2bn
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