Fidelity Bank reported its 2023 Q3 results showing pre-tax profits grew by 172.60% year on year, reaching N34.658 billion.
This took the nine-month pre-tax profit to N110.992 billion versus N37.792 billion in the same period last year.
The increase in pre-tax profit is primarily attributed to the substantial growth in gross earnings. This growth is fueled by the increased net interest income, net fees and commission income
Key highlights of the result indicate a gross earnings of N141.693bn, Interest Income of N135bn, Interest Expense of N47.8bn, Net interest income of N87bn.
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