March 28 (Lagos) - Fidelity Bank Plc profit before tax rose to N 25 billion in 2018 from N 19 billion in 2017.
Bank has proposed dividend of 22 kobo per unit.
Net Interest margin rose slightly to N 69.6 billion in 2018 from N 68.14 billion in 2017.
Comprehensive income for 2018 declined slightly to N 20.72 billion mainly due to N 3.8 billion losses on debt instruments.
Net assets declined to N 194 billion at end of 2018 from N 201 billion in 2017.
However the dividend is something shareholders will be happy with. The dividend yield of almost 10% is higher than some of the other banks that have released results.
The dividend payout is low so there is room for expansion in future. Shares of
FIDELITYBK closed at N 2.26 per unit and
NSE in Lagos.
reporting for easykobo.com on Thursday, March 28 2019 from Lagos, Nigeria