Fidelity Bank reports N9.59bn profit in Q1 2021

Fidelity Bank Plc on Tuesday published its First Quarter report for the period ended 31 March 2021.

The Bank reported Gross Earnings N55.122 billion, up by 7.75% from N51.159 billion reported in Q1 2020.

Profit after tax grew by 63.68% to N9.59 billion from N5.859 billion achieved in the first quarter of 2020.

Earnings per share increased for the period under review increased to 33 kobo from the EPS of 20 kobo reported in Q1 2020.

At the share price of N2.26, the P.E ratio of Fidelity Bank stands at 6.83x with earnings yield of 14.65%.

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