WorldStage Newsonline– Fidelity Bank Plc, a major player in Nigeria’s banking sector on Friday released its financial statements and auditor’s report for the period ended 30 June 2020 with 33% growth in profit after tax to N11.303 billion from N8.498 billion in Q2 2019.
The result Q2Fidelity released at the Nigerian Stock Exchange showed that gross earnings rose slightly by 2.03% to N105.755 billion from N103.655 billion in Q2 2020.
The bank’s Board of Directors is proposing no dividend in respect of the Period ended 30 June 2020.
The bank with 2,869 workforces during the period under review was incorporated on 19 November 1987 as a private limited liability company and domiciled in Nigeria. It obtained a merchant banking license on 31 December 1987 and commenced banking operations on 3 June 1988. The Bank converted to a commercial bank on 16 July 1999 and re-registered as a public limited company on 10 August 1999. The Bank’s shares have been listed on the floor of the Nigerian Stock Exchange since 17 May 2005.
The principal activity of the Bank continues to be the provision of banking and other financial services to corporate and individual customers from its Headquarters in Lagos and 235 business offices. These services include retail banking, granting of loans and advances, equipment leasing, collection of deposit and money market activities.
