Fidelity Bank Records 137% Rise in Profit
February 23rd, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo ChuksFidelity Bank Plc over the weekend announced an increased profit after tax of N1.9 billion for the half year ended December 31, 2006, representing an increase of 137 per cent from N800.9 million of the previous year.
The bank’s gross earnings also grew by 24 per cent increase from N8.3 billion in 2005 to N10.4 billion in 2006.
Profit before tax went up also by 137 percent from N1.01 billion to N2.4 billion in the period under review. The board of directors of the bank expressed confidence that bearing any unforeseen circumstances, the bank would exceed its financial projections for the current financial year.
The bank is likely to come out with an IPO anytime from now, so get your money ready.
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