{"id":88628,"date":"2021-11-16T19:48:52","date_gmt":"2021-11-16T18:48:52","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=88628"},"modified":"2021-11-16T19:48:52","modified_gmt":"2021-11-16T18:48:52","slug":"fidelity-banks-9-months-profits-hit-n28-1bn","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fidelity-banks-9-months-profits-hit-n28-1bn\/","title":{"rendered":"Fidelity Bank\u2019s 9 Months Profits Hit N28.1bn"},"content":{"rendered":"<div id=\"m#msg-f:1716596385230915201\" class=\"mail-message expanded\">\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\" style=\"text-align: justify;\"><b>Lagos Nigeria: November 16, 2021:<\/b>\u00a0Fidelity Bank Plc has posted yet another impressive financial performance for the 3rd Quarter of 2021. Details of the 9-months results for the period ended September 30, 2021, released on Tuesday at the Nigerian Stock Exchange (NGX) showed a double-digit growth in revenues, deposits and profitability.<br \/>\nGross earnings grew by 12.5 percent to N174.4 billion from N155.0 billion in the same period in 2020 while profit before tax (PBT) soared by 31.4 percent to N28.1 billion from N21.3 billion in 9M 2020.<br \/>\nIn other indices, total assets grew by 15.4 percent to N3,182.7 billion from N2,758.1billion in the same period last year. Total deposits: a measure of customer confidence, increased by 16.1 percent YTD to N1,973.0 billion from N1,699.0bn in 2020FY, driven by increased deposit mobilization across all deposits types.<br \/>\nCommenting on the impressive performance, Fidelity Bank\u2019s CEO, Mrs. Nneka Onyeali-Ikpe said, \u201cWe were able to sustain our performance trend since the start of 2021 with an impressive double-digit growth in profit driven by 69.9 percent increase in net fee income which compensated for the decline in net interest income as average yield on liquid assets remain low.\u201d<br \/>\nShe noted that digital banking has continued to gain traction as the bank now has 56.1 percent of its customers enrolled on digital banking platform from 52.8 percent in 2020FY.<br \/>\nWhile stating that the bank had recorded a 125 percent year-on-year (YoY) increase in total NIP transaction and 24.9 percent, she stated that 24.9 percent of fee-based income currently comes from digital banking.<br \/>\n\u201cOther regulatory ratios remain well above the minimum requirement: Capital Adequacy Ratio (CAR) at 18.8 percent from 18.2 percent in 2020FY while liquidity ratio came in at 34.5 percent, well above the regulatory threshold of 30.0 percent\u201d, she noted.<br \/>\nFidelity Bank recently completed a highly successful Eurobond offering, raising US $400 Million from the international capital markets through a five-year tenor Eurobond. The offering achieved a 7.625 percent coupon p.a. and recorded a 1.8x over-subscribed orderbook which peaked at over US$700 million.\u00a0 The pricing of the Senior Unsecured Notes, underscores the formidable confidence of a diversified range of global and local investors in Fidelity Bank\u2019s growth aspirations and the well-experienced management team\u201d, explained Mrs. Onyeali-Ikpe.<\/div>\n<\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Lagos Nigeria: November 16, 2021:\u00a0Fidelity Bank Plc has posted yet another impressive financial performance for the 3rd Quarter of 2021. Details of the 9-months results for the period ended September&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":78453,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-88628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fidelity Bank\u2019s 9 Months Profits Hit N28.1bn - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/fidelity-banks-9-months-profits-hit-n28-1bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fidelity Bank\u2019s 9 Months Profits Hit N28.1bn - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Lagos Nigeria: November 16, 2021:\u00a0Fidelity Bank Plc has posted yet another impressive financial performance for the 3rd Quarter of 2021. 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