Fidelity Bank’s PBT decline to N9bn



Fidelity Bank Plc has  recorded profit before tax of N9.028 billion for the financial year ended December 31, 2013. The figure showed a declined of N12.321 billion or 57.7 per cent when compared with  N21.349 billion achieved in a comparative period of 2012.

The bank’s audited result submitted to Nigerian Stock Exchange (NSE) showed that profit for the year also  fell from N17.924 billion posted in the preceding year to N7.727 billion

The Bank grew its  gross earnings to  N126.918 billion from  N119.137 billion achieved in the corresponding period of 2012, representing an increase of N7.781 billion or 6.53 per cent  . The bank’s total assets rose from N914.360 billion to N1.081 trillion. The total liabilities of the bank surged to N917.762 billion from N752.905 billion made in the preceding year.

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