Fidelity Bank Plc 2016 Financial Summary

12 Months FIDELITY BANK PLC
	2016 N'000	2015 N'000	change	Year End
Revenue	152,021,000	146,948,000	3%	December
Profit/Loss before taxation	11,061,000	14,024,000	-21%
Profit/Loss for the period	9,734,000	13,904,000	-30%
Issued Shares (Units)	28,962,585,692	28,962,585,692
Basic Earnings Per Shares (Kobo)	34.00	48.00	-29%
Last total dividend paid (Kobo)	14.00	16.00	-13%

Quarter on Quarter performance

Revenue                                                                   PAT

N'000                                                                       N'000

Q1: #34,356,000                                                      Q1: #3,583,000

Q2: #36,059,000                                                      Q2: #2,010,000

Q3: #39,931,000                                                      Q3: #3,160,000

Q4: #41,675,000                                                      Q4: #981,000


The overall performance was short of 2015 performance.

A closer look at the result shows that impairment charges grew by 50.43% from #5.7billion in 2015 to #8.6billion which was as a result of term loan impairment that grew form #302million to #7.7billion.

Combined with the Fees and Commission expenses that grew by 34.30%, Depreciation $ Amortization by 8.10%, Income tax expense that increased by 1,005.83% due to decline in tax except income by 42.03%.

The Company declared a dividend of 14k compared to 16k paid at the last period. That is with a dividend yield of 16.67% and a P/E of 2.50.

The Capital adequacy ratio (CAR) is 17.22% against the minimum requirement of 15% for its likes. However that CAR had declined by 9.37% from 19% it was last term.

Corporate Action

Proposed Dividend: 14kobo per Share

Proposed Bonus : Nil

Qualification Date : April 13th 2017

AGM Date: May 4th 2017

Payment Date: May 4th 2017

AGM Venue: Shell Hall Muson center, 8/9 Marina Lagos