Fidelity Bank’s impressive financial performance has excited investors, with the bank recording an average annual profit growth of 64% over the past three years.
The bank’s total assets have grown from N2.1 trillion to N6.2 trillion, with a total deposit of over N4 trillion.
Fidelity Bank’s strong historical performance has made it an attractive investment opportunity, with the bank’s share price delivering an average annual capital gain of over 100% in five years.
The bank’s gross earnings have risen successively from N206 billion in 2020 to N556 billion in 2023, representing an average annual growth of 39%.
Profit before tax has grown consecutively from N28 billion in 2020 to N124 billion in 2023. Earnings per share have also grown from 92 kobo in 2020 to N3.11 in 2023.
Fidelity Bank’s total assets have grown successively from N2.11 trillion in 2019 to N6.23 trillion in 2023.
Shareholders’ funds have also grown successively from N234.03 billion in 2019 to N437.31 billion in 2023. Total deposit has grown by an average annual growth of 33% from N1.7 trillion in 2020 to N4.02 trillion in 2023.
The bank’s loans portfolio is the fifth largest in the Nigerian banking industry, with net loans growing successively from N1.32 trillion in 2020 to N3.09 trillion in 2023.
Fidelity Bank has shown a strong commitment to national economic growth, with supports for businesses and high customer trust.
The bank’s interim report for the first quarter ended March 31, 2024, showed a strong performance, with gross earnings increasing by 89.9% to N192.1 billion. Profit before tax doubled by 120% to N39.5 billion in the first quarter of 2024.
The bank’s performance was driven by expanding market share, with total deposit rising by 17% within the three months to N4.7 trillion.
Fidelity Bank’s consistent strong growth has excited investors, with the bank’s ongoing combined rights and public offer attracting significant interest.
The bank is offering a rights issue of 3.2 billion ordinary shares of 50 kobo each at N9.25 per share, and 10 billion ordinary shares of 50 kobo each to the general investing public at N9.75 per share.
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