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Fidelity Bank Plc at the weekend showed its determination to make good all its projections for profitability both in the short and long terms.
In the bank’s profit and loss account for the first quarter ended September 30, 2007, which was approved and released by the Nigerian Stock Exchange at the weekend, it recorded a Profit Before Tax growth of 209 percent, moving from N1.06 billion to N3.3billion. Profit After Tax also grew by the same percentage from N0.85billion in 2006 to N2.64billion.
In the account, the bank recorded earnings of N7.67 billion, up from N4.61 billion compared to same time last year.
The board of the bank expressed the optimism that the tempo in the first quarter would be sustained and that their projections for the full year would be met.
The Fidelity stock has been one of the most active on the Nigerian Stock Exchange. In the papers released by the Exchange at the end of 2006, it was one of the three most traded stocks. In July, it was the very most active stock before it suspended trading prior to the public offer.
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