Results & Dividends

Fidelity Bank Q1 Profit Drop 25%

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Fidelity Bank Plc on Thursday said its first quarter (Q1) profit before tax (PBT) dropped 25 percent (25%) from N5.945 billion in Q1 of 2013 to N4.458 billion in the review period of 2014.

Also, profit after tax (PAT) declined from N4.750 billion in the Q1 of 2013 to N3.789 billion in the same period of 2014; indicating a decline of 20.2%.

Similarly, gross earnings dropped to N30.956 billion in the Q1 of 2014 from N31.432 billion down 1.5%.

At the close of trading on the Nigerian bourse share price of the bank fell by 3 kobo, it opened at N2.00 and closed N1.97.

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