Fidelity Bank declares N155bn Gross Earnings in Q3, 2020

The unaudited financial reports for the third quarter ended September 30th, 2020 of Fidelity Bank plc revealed a decline of 3.74% in gross earnings to close the period at N155 billion away from N161 billion reported same period the previous year in 2019.

The profit before tax for the period under review soared from N20.598bn in 2019 to N21.348bn in the current report, which implies a growth of 3.64% in (PBT).

The nine months reports which hit the market on the 2nd November, 2020 showed an improvement of about 7% in Profit after Tax to N20.406bn away from N19.056bn recorded in the preceding year of 2019.

The Bank’s earnings per share consequently grew by 7.08%, from 66kobo in 2019 to 70kobo in the period under review.

The PE Ratio of Fidelity Bank for the current period stands at 3.46x and the earnings yield at 28.86%.

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