By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Fidelity Bank Plc Thursday posted a growth of 161.7 percent (161.7%) in its Total Profit for the Second Quarter (Q2) Report for the Period Ended June 30 2012.

This is contained in the Result Announcement of the Bank to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria.

To record the 161% growth in Total Profit for the Q2 2012 period, the Bank posted N2.915 billion in the Q2 of year 2011 compared to N7.630 billion recorded in the review period.

While Profit After Continuing Operations also rose from N2.834 billion in the Q2 of year 2011 to N7.595 billion in the review period of year 2012; showing a rise of 168%.

Also, Profit Before Tax from Continuing Operations increased from N3.682 billion in the Second Quarter of 2011 compared to N9.812 billion posted in Q2 of year 2012; indicating an increase of 166.5%.

Gross Income from Continuing Operations was N28.644 billion in Q2 of 2011 compared to N51.663 billion in the same period of year 2012; representing an increase of 80.4%.

Total Gross Earnings increased to N51.899 billion in the Second Quarter of 2012 compared to N28.932 billion in the corresponding period of year 2011; indicating an increase of 79.4%.

Similarly, Sterling Bank Plc posted an increase of 37.6% in its Profit After Tax for the Q2 Report for the Period Ended June 30 2012.

The Bank to record the increase, reported a PAT of N3.013 billion in the Q2 of year 2012 compared to N2.189 billion in the same period of year 2011.

While the Bank reported a PBT of N3.252 billion in the review period compared to N2.350 billion recorded in the Q2 of 2011; showing an increase of 38.4%.

Gross Earnings also grew from N20.516 billion in the Q2 2011 compared to N32.690 billion in the review period of year 2012; showing a growth of 59.3%.

On its part, Berger Paints Plc declared N74.992 million PAT in Q2 of 2012 compared to N71.405 million in the same period of year 2011; indicating a slight increase of 5.0%.

PBT was N122.200 million in the Q2 of 2012 compared to N105.520 million in the same period of year 2011; representing 15.8% rise.

While Revenue of Berger Paints hit N1.281 billion in the Q2 of 2012 compared to N1.144 billion in the Q2 of 2011; showing an increase in Revenue of 12.0%.