|Fidelity Bank released audited FY 2019 results yesterday. Net profits were up 24.0% y/y to N28.4bn (US$74.7m), 10.4% ahead of mean consensus estimates. |
Net interest income grew 13.20% y/y to N83.1bn (US$218.6m) on the back of gross loan growth of 29.98% y/y.
Net fee and commission income was up 17.2% from the previous year.
Fidelity Bank proposes a total dividend of N0.20/s which translates to a total gross dividend yield of 11.76% (the current 1-year T-bill yield is 5.90%).