Fidelity Bank Plc. (FIDELITYBK) has consistently reported solid financial performance, evident in its H1:2023 results. During the period, the bank amassed gross earnings of NGN247.10bn,
representing a 59.58% YoY increase from the figure reported in H1:2022. Expectedly, this
significant improvement was driven by interest and non-interest income growth. Indeed, higher
lending rate following multiple hikes of the benchmark lending rate and an expansion in the bank’s loans to customers by one-fourth YtD served as the primary push factors for the increase in interest income.
