Fidelity Bank Plc has released its condensed unaudited financial statements for 2023.
The bank posted a profit before tax of N122.15 billion, representing a 128% growth from the N53.68 billion recorded in FY 2022.
In FY 2023, the bank posted gross earnings of N552.77 billion, marking a 64% growth from the N337.05 billion posted in FY 2022.
The bank’s net interest income of N274.86 billion posted in FY 2023 was notably 82% higher than the N152.70 billion net interest income posted in 2022.
Key Highlights FY 2023 (FY 2022, % Change)
What you should know
The bank’s credit was mostly concentrated in oil and gas, with N1.11 trillion in loans and advances to the oil and gas sector, representing 36% of the bank’s total loans and advances.
The bank’s total investment in government securities also increased by 112% to N1.39 trillion in FY 2023, from the N657.26 billion recorded in FY 2022. The bulk of the bank’s investment in government securities was in treasury bills, which increased to N565.22 billion in 2023, marking a 102% increase from the N280.28 billion posted in FY 2022.
CITYNEWS NIGERIA brings you the results of all today’s 2025 Africa Cup of Nations, AFCON,…
A report has claimed that President Bola Ahmed Tinubu’s close aides are currently struggling over…
Ajuri Ngelale, Special Adviser to the President on Media & Publicity, has announced his decision…
President Bola Ahmed Tinubu’s administration has accepted the request of Ajuri Ngelale, the President’s Special…
Ajuri Ngelale, the broadcast journalist who made a name for himself with his eloquence and…
There was pandemonium as a petrol-laden tanker exploded burning two articulated trucks, one 18-seater bus,…