Fidelity Bank sees H1 2018 post tax profit grow by 31% to N11.8bn

Fidelity Bank Plc. Wednesday released its half year financials for the period ending 30th June 2018, recording a 31 percent increase in profit after tax.

The lender grew it’s post tax profit to N11.8 billion from N9.0 billion recorded in the same period of 2017, on account of a four percent growth in gross earnings which increased from N85.8 billion in 2017 to N88.9 billion as at June 2018.

Profit before tax also increased 28 percent from N10.2 billion in 2017 to N13.1 billion in 2018, as earnings per share increased to 41 kobo from 31 kobo recorded in the half year period of 2017.

Fidelity Bank’s board of directors declared no interim dividend for the period.

The banks shares opened for trading Wednesday at N1.70 on the Nigerian Stock Exchange (NSE).