NewsOnline Nigeria reports that Fidelity Bank Plc has released its condensed unaudited financial statements for 2023.
This Nigeria news platform understands that the bank posted a profit before tax of N122.15 billion, representing a 128% growth from the N53.68 billion recorded in FY 2022.
In FY 2023, the bank posted gross earnings of N552.77 billion, marking a 64% growth from the N337.05 billion posted in FY 2022.
The bank’s net interest income of N274.86 billion posted in FY 2023 was notably 82% higher than the N152.70 billion net interest income posted in 2022.
Key Highlights FY 2023 (FY 2022, % Change)
NewsOnline Nigeria reports that the bank’s credit was mostly concentrated in oil and gas, with N1.11 trillion in loans and advances to the oil and gas sector, representing 36% of the bank’s total loans and advances.
The bank’s total investment in government securities also increased by 112% to N1.39 trillion in FY 2023, from the N657.26 billion recorded in FY 2022. The bulk of the bank’s investment in government securities was in treasury bills, which increased to N565.22 billion in 2023, marking a 102% increase from the N280.28 billion posted in FY 2022.
Over 2,000 individuals from the Ikeja Police Barracks community benefited from an impactful outreach program spearheaded by Young Professionals for Tinubu (YP4T), an…
Open Heaven 24 December 2024 RCCG Daily Devotional can be accessed below. NewsOnline Nigeria…
Black Market Dollar To Naira Exchange Rate in Lagos and FCT today, 24 December 2024.…
Dele Farotimi has been released from prison few hours to Christmas. NewsOnline Nigeria reports…
Queen Naomi, Oriyomi, and Fasasi have been remanded in prison over the Ibadan stampede. …
Forty years after the release of the original JESUS film, Jesus Film Project is releasing an…