Nnamdi Okonkwo, MD/CEO Fidelity Bank Plc

BY NKECHI NAECHE—-Fidelity Bank Plc yesterday announced 34 percent increase in  its pretax profit for the first quarter (Q1) ended March  31, 2019.

According to the lender its pretax profit rose to N6.67 billion at the end of first quarter (Q1) ended March  31, 2019 as against N4.98 billion posted in same period of 2018.

This is contained in a notice to the Nigeria Stock Exchange ( NSE)  that it’s gross earnings also appreciated to N48.44 billion when compared to N43.32 billion in the Q1 period of 2018; representing 11.8 percent increase.

The notice added that 28.4 percent increase was recorded by the lender in its  Post-tax profit to stand at N5.93 billion from N4.62 billion reported the same period of 2018.