Fidelity Bank Lists 3.037 Billion Additional Shares

Fidelity Bank has listed an additional 3,037,414,308 ordinary shares of 50 kobo on the Nigerian Exchange Limited (NGX).

The additional sales have increased the bank’s total issued and fully paid-up shares from 28,974,797,023 to 32,012,211,331 ordinary shares.

The NGX said, “Trading Licence Holders are hereby notified that additional 3,037,414,308 ordinary shares of 50 kobo each at N4.60 of Fidelity Bank Plc (Fidelity or the Bank) were on Friday, August 11, 2023, listed on the Daily Official List of the Nigerian Exchange Limited (NGX).”

The bank’s audited financial statement for the 2022 fiscal year revealed a profit before tax (PBT) of N53.677 billion, the highest PBT in five years and outpacing its peer.

Fidelity Bank has set ambitious targets for the future with the Q1 2023 results indicating the likelihood of exceeding the projected 2023 profit. A remarkable 74 percent quarter-on-quarter growth in PBT to N17.94 billion demonstrates the bank’s commitment to sustained and impressive earnings growth.

The bank paid a final dividend of 40 kobo per share for the 2022 fiscal year on May 23, 2023.

A key driver behind Fidelity Bank’s remarkable earnings growth is the increase in gross earnings, bolstered by healthy growth in interest and similar income. This dynamic strategy has not only set Fidelity Bank apart but has also bolstered its reputation as a formidable player in the Nigerian banking sector.

With the listing of these additional shares on the Nigerian Exchange Limited (NGX), Fidelity Bank continues to chart an impressive course, solidifying its position as a powerhouse in the financial landscape and setting the stage for a promising future.