Fidelity Bank Plc has recorded 35.7 percent growth in Profit Before Tax, PBT, in its 2021 financial year to close the year at N38.1billion.


Analysis of the results indicates that the bank’s gross earnings rose by 21.6 percent to N250.8billion driven by a combination of 60.3 percent growth in non-interest revenue (NIR) and 15.2 percent increase in interest and similar income.

The growth in NIR reflects the significant increase in customer transactions resulting in 84.9 percent growth in trade income, 48.1 percent in account maintenance charge, and 47.2 percent increase in digital banking income. Commenting on the performance, the Managing Director, Nneka Onyeali-Ikpe, stated: “We closed the financial year with strong double-digit growth in profit and across key balance-sheet lines, which reflects the disciplined execution of our strategy and capacity to deliver superior returns to shareholders.

“Other areas of the financial result recorded significant increases in the period under review with total interest and similar income increasing by N26.8bn.”

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