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Fidelity Bank records 53 9% profit growth in Q1 2020

Advertisement According to a statement released by the bank, this represents an increase of 53.9 percent when compared to N6.6 billion recorded in the corresponding period in 2020. Gross earnings increased by 7.7 percent year on year to N55.1 billion on account of 66.7 percent growth in non-interest revenue to N12.1 billion from N7.2 billion in Q1 2020. The bank’s unaudited results show an increase in net revenue by 13.4 percent from N30.3 billion in Q1 2020 to N34.4 billion in 2021. Advertisement The bank explained that the increase in its non-interest revenue came from foreign exchange related income, digital banking income and account maintenance charge, among other.

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