By  InvestAdvocate

Lagos (INVESTADVOCATE)—Nigeria’s mid-tier lender, Fidelity Bank Plc has projected a N23.5 billion profit before tax (PBT) in its 2015 audited year end compared to N16.5 billion recorded a year earlier, a Reuters report quoted a prospectus which the lender used to raise a N30 billion bond.

In the same vein, the report said Fidelity Bank forecast a loan growth of between 15.20 percent from 2013-2015, driven by existing and new facilities made to power, agriculture, oil and gas sectors.

Share price of the bank at the close of business on Monday at the Nigerian Stock Exchange (NSE) climbed up 4.93 percent as it opened N1.62 kobo and closed N1.70 kobo per share; gaining 0.08 kobo.