Shareholders of Fidelity Bank are to get a total of 3.2 billion naira dividend, amounting to 0.11 naira per share after the lender posted 29 percent growth in its profit after tax for the 2018 financial year.
The bank said the "dividends will be paid electronically to shareholders whose names appear on the Register of Members as at April 12, 2019, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts."
Fidelity Bank profit after tax grew to 22.9 billion naira at the end of 2018 compared with 17.7 billion posted the previous year.
Gross earnings also grew by 4.8 percent to 188.9 billion naira against 180.2 billion naira in the previous year, the lender said in a statement.
The bank said that its total assets grew by 24 percent from 1.4 trillion naira in 2017 to 1.7 trillion naira at the end of 2018.
“We are delighted by our 2018 numbers, which clearly shows a sustained performance trajectory. We are growing our market share with continued traction in our chosen business segments. We recorded double digits growth in interest income on our liquid assets, digital banking, FX and other income lines,” Nnamdi Okonkwo said Fidelity Bank chief executive.
Okonkwo noted that over 42 per cent of the bank customers are now enrolled on its mobile/internet banking and more than 81 percent of total transactions done on digital platforms, resulting in 25 percent of fee-based income, coming from digital banking.
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