Business

Fidelity Bank reports 12.3% increase in gross earnings

Published

7 years ago

on

August 30, 2019

By

Feyijimi Emmanuel

Fidelity Bank Plc reported a 12.3% increase in its gross earnings for the half-year period ended June 30, 2019.

This was disclosed in the company’s H1 2019 financial statements published earlier today on the Nigerian Stock Exchange’s website.

The bank’s gross earnings for the period stood at N103.6 billion, compared to N92.2 billion recorded in 2018, representing a 12.3% increase.

Profit before tax went up by 15.6% to N15 billion during the period under review, compared to N13 billion in June 2018, while profit after tax stood at N13.6 billion as against N11.8 billion which was recorded during the same period in June 2018; representing a 15.5% increase.

Earnings per share (EPS) stood at N41 in 2018 compared to N47 in 2019.

Major assets were derived from Cash and balances with Central Bank, due from banks, loans, and advances to customers.

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Vote-buying remains a major concern One of the strongest warnings from Osun was the continued presence of vote-buying and voter inducement. Yiaga Africa said the results declared by the Independent National Electoral Commission (INEC) were consistent with its independent statistical projections, but cautioned that this did not remove concerns about the integrity of voters' choices amid reports of vote-buying and inducement. The concern is particularly significant ahead of 2027, when political competition will take place nationwide and involve presidential, National Assembly and state-level contests. The International Republican Institute (IRI), following a pre-election assessment mission conducted in August, identified monetised political competition, election-related violence, insecurity and declining public confidence in INEC among the structural challenges facing the 2027 elections. 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