Fidelity Bank Plc 3 Months 2017 Financial Summary

3 Months Report FIDELITY BANK PLC
	2017 N'000	2016 N'000	change	Year End
Revenue	40,842,000	34,365,000	19%	December
Profit/Loss before taxation	4,849,000	4,025,000	20%
Profit/Loss for the period	4,316,000	3,583,000	20%
Issued Shares (Units)	28,974,797,023	28,974,797,023
Basic Earnings Per Shares (Kobo)	15.00	12.00	25%
Last total dividend paid (Kobo)	0.00	0.00

Fidelity bank grew its gross revenue by 19% year on year and PAT by 20% year on year. However, revenue declined by 1.92% quarter on quarter but PAT improved by 339.96% quarter on quarter.

We hope Fidelity sustain this performance throughout the year.

Further Analysis of the result shows that the bank is committed to loan and advancement as this increased to #730billion from #590billion this was an increase of 23.73%. 

This explains why loan and advancement was the major contributor to the interest and similar income as it came with a 31.58% growth from #19.7billion in Q1 2016 to #25.5billion in Q1 2017.

The major interest expense was the term deposits that increase to #13billion from 8.7billion that was a 57.47% in expense cost.

The company remains a fringe player on fees and commission compare to other major players in the industry. A complete analysis of this would be considered in the coming days.

Fidelity remains at 83k currently a position we belief should change positively in the coming days.