Fidelity Bank reports N30.21bn profit for 2020

Fidelity Bank Plc has reported a profit before tax of N30.21 billion for the 2020 financial year, slightly lower than the N30.35 billion posted in the previous year.

The lender’s profit after tax stood at N28.03 billion, compared to N28.43 billion in 2019, according to its unaudited financial statements obtained from the Nigerian Stock Exchange.

Deposits from customers grew to N1.69 trillion in 2020 from N1.23 trillion a year ago, while loans and advances to customers rose to N1.33 trillion from N1.13 trillion.