Fidelity Bank Plc posted a net income of N99.45 billion in FY 2023, according to the bank’s audited financial statements for 2023. This marks a 113% growth from the N46.72 billion PAT posted in 2022.
The group posted gross earnings of N555.8 billion in 2023, marking a 65% growth from the N337.1 billion posted in 2022. The group also recorded an impressive net interest income of N277.4 billion in 2023, representing an 82% increase from the N152.7 billion net interest income posted in 2022.
Fidelity Bank posted a net FX revaluation gain of N44.1 billion in FY 2023, up from N2.7 billion posted in 2022.
Fidelity Bank will be paying final dividends of 60 kobo per share for FY 2023, representing a 20% increase from the 50 kobo paid for FY 2022. This translates into a payment of N19.2 billion to its 397,052 shareholders.
The group paid an interim dividend of 25 kobo per share for H1 2023, thus bringing its total dividends for 2023 to 85 kobo per share. Thus, amounting to a dividend payment of N27.2 billion for 2023.
Currently, Fidelity Bank has a paid-up capital of N129.7 billion. With the recent acquisition of Union Bank UK by the group, it is anticipated that the bank will pursue an international banking license, which mandates a minimum paid-up capital of N500 billion. Hence, Fidelity Bank is N370.3 billion off its expected capital base.