Q1 Report: Fidelity Bank records N16.97 billion as Net Interest Income

Fidelity Bank Plc has released its first quarter report for 2018, recording N16.97 billion as its net interest income. This implies a growth of 2.48% from the net interest income of N16.56 billion of the previous year.

Profit before income tax of the company also grew by 2.68% settling at N4.98 billion as against N4.85 billion of the previous year.

Fidelity Bank Plc began operations in 1988 as Fidelity Union Merchant Bank Limited. By 1990, it had distinguished itself as the fastest growing merchant bank in the country. However, to leverage the emerging opportunities in the commercial and consumer end of financial services in Nigeria, in 1999, it converted to commercial banking and changed its name to Fidelity Bank Plc. It became a universal bank in February 2001, with a license to offer the entire spectrum of commercial, consumer, corporate and investment banking services.

Fidelity Bank is today ranked amongst the top 10 in the Nigerian banking industry, with presence in the major cities and commercial centres of Nigeria. Over the years, the bank has been reputed for integrity and professionalism.

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