Fidelity Bank reports N11.3bn half-year profit

Fidelity Bank on Thursday published its Audited Financial Report for the period ended 30 June, 2020. The bank reported Gross Earnings of N105.76 billion, up by 2.03% from N103.66 billion reported in the first half of 2019.

Profit before tax (PBT) appreciated by 21.92% to N11.96 billion from the PBT of 9.81 billion in H1’19.

Profit after tax grew by 33.01% to N11.30 billion from N8.498 billion reported in the first half of 2019. Earnings per share increased to 39 kobo form 29 kobo which translates to 33.01% year on year.

With reference to the current share price of N1.86, P.E ratio of Fidelity Bank is 4.77x with earnings yield of  20.97%.

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