Fidelity Bank records #10.1bn PBT for Q1

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Fidelity Bank PLC has announced a profit before tax of #10.1 billion for the first quarter (Q1) ended March 31, 2021.

The bank’s Managing Director/Chief Executive Officer, Mrs. Nneka Onyeali-Ikpe disclosed this in an unaudited financial results sent to the Nigerian Exchange Ltd, recently.

Onyeali-Ikpe said that the profit before tax rose by 53.09 percent to #10.1billion from #6.6billion posted in the comparative period of 2020.

Similarly, net revenue in the period inincreased by 13.4 percent to #34.4 billion from #30.3 billion in Q1 2020.

The bank’s gross earnings increased by 7.7 to #55.1billion on account of 66.7 percent growth in non-interest revenue to #12.1billion from #7.2billion in Q1 2020.

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