Fidelity Bank Plc (NGX: FIDELITYBK)

Fidelity Bank Income Statement

Financials in millions NGN. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	607,544	434,008	278,406	186,784	168,551	179,491
Interest Income on Investments	135,317	25,522	17,172	16,782	8,202	5,350
Total Interest Income	742,861	459,530	295,578	203,566	176,753	184,841
Interest Paid on Deposits	246,918	182,165	142,883	108,687	72,630	101,786
Net Interest Income	495,943	277,365	152,695	94,879	104,123	83,055
Net Interest Income Growth (YoY)	168.24%	81.65%	60.94%	-8.88%	25.37%	13.22%
Gain (Loss) on Sale of Assets	103	49	-56	69	-51	2,510
Gain (Loss) on Sale of Investments	36,025	24,783	-1,568	-4,904	1,610	801
Other Non-Interest Income	70,624	84,439	28,833	38,517	22,863	25,392
Total Non-Interest Income	106,669	109,271	27,209	33,682	24,422	23,998
Non-Interest Income Growth (YoY)	22.99%	301.60%	-19.22%	37.92%	1.77%	-14.52%
Revenues Before Loan Losses	602,612	386,636	179,904	128,561	128,545	107,053
Provision for Loan Losses	83,443	67,436	5,443	7,034	16,858	-5,292
Revenue	519,169	319,200	174,461	121,527	111,687	112,345
Revenue Growth (YoY)	109.14%	82.96%	43.56%	8.81%	-0.59%	15.56%
Salaries and Employee Benefits	62,084	52,619	29,731	23,470	25,367	24,129
Occupancy Expenses	8,466	7,042	6,616	7,174	6,207	5,421
Selling, General & Administrative	11,089	8,477	5,784	3,673	2,786	3,383
Other Non-Interest Expense	188,732	126,802	78,653	61,995	49,273	49,059
Total Non-Interest Expense	270,371	194,940	120,784	96,312	83,633	81,992
EBT Excluding Unusual Items	248,798	124,260	53,677	25,215	28,054	30,353
Pretax Income	248,798	124,260	53,677	25,215	28,054	30,353
Income Tax Expense	51,505	24,806	6,953	2,111	1,404	1,928
Net Income	197,293	99,454	46,724	23,104	26,650	28,425
Net Income to Common	197,293	99,454	46,724	23,104	26,650	28,425
Net Income Growth	130.99%	112.85%	102.23%	-13.31%	-6.24%	23.99%
Basic Shares Outstanding	32,000	32,000	28,963	28,963	28,963	28,963
Diluted Shares Outstanding	32,000	32,000	28,963	28,963	28,963	28,963
Shares Change (YoY)	4.98%	10.49%	-	-	-	-
EPS (Basic)	6.17	3.11	1.61	0.80	0.92	0.98
EPS (Diluted)	6.17	3.11	1.61	0.80	0.92	0.98
EPS Growth	120.03%	92.65%	102.23%	-13.31%	-6.24%	23.99%
Dividend Per Share	1.450	0.850	0.500	0.350	0.220	0.200
Dividend Growth	93.33%	70.00%	42.86%	59.09%	10.00%	-9.09%
Effective Tax Rate	20.70%	19.96%	12.95%	8.37%	5.00%	6.35%

Source: S&P Capital IQ. Banks template. Financial Sources.