News
Fidelity bank records N76.3b PBT for H1 2023
Lagos, Nigeria, September 3, 2023: Leading financial institution, Fidelity Bank Plc has recorded an impressive 204.4% growth in Profit Before Tax for the first half of 2023 to N76.3bn according to the bank’s recently issued financial result.
A review of the results published on the Nigerian Exchange Group (NGX) on Friday, 1 September 2023, showed a positive performance across all financial indices, reaffirming the Bank’s position as one of the fastest growing and well-managed financial institutions in Nigeria. Gross earnings for the period grew by 59.6% to ₦247.1billion from ₦154.8billion reported in June 2022. Profit After tax stood at ₦61.9billion representing a growth of 166.0% over ₦23.3billion recorded in the corresponding period. This translates to an Earning per Share of 194kobo. The Bank’s Net Loans & Advances grew by 25.1% from ₦2.1trillion recorded as of December 2022 to ₦2.6trillion in June 2023 with corresponding growth in Customer Deposits which increased by 23.2% to ₦3.2trillion from ₦2.6trillion in December 2022.
The Bank’s balance sheet remained strong with a 27.4% growth in Total Assets from ₦3.9trillion in December 2022 to ₦5.1trillion. The Bank’s non-performing loans remained low and within regulatory threshold at 3.24% with adequate coverage of 111%. Return on Equity (ROE) and Return on Assets (ROA) closed at 34.9% and 2.8% respectively.
On the back of the strong H1 2023 performance, the board of the bank approved an interim dividend of 25k per share making it the second consecutive year the bank would be paying interim dividends and another demonstration of its capacity to provide shareholders with sustainable value.
Commenting on the Bank’s laudable performance, Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc noted, “We are pleased to report on another period of quality growth across all financial and non-financial indices. Our performance during the first half of the year reflects the resilience of our bank and the fundamental strength of our business to deliver long-term sustainable value at a time that has been characterized by global economic headwinds. As a bank, we remain committed to our goal of helping individuals to grow, inspiring businesses to thrive and empowering economies to prosper.
The Bank’s impressive H1 2023 results come to join a string of recent achievements by Fidelity Bank. It would be recalled that the Bank’s stock was reclassified from small-price stock to medium-price stock by the NGX in July 2023 on the back of a consistent impressive performance.
Similarly, the bank recently emerged the company with the highest earnings per share on the NGX based on half year financial figures for the second year running.
To sustain this sterling performance, the bank’s shareholders, at an Extra-Ordinary General Meeting held on 11 August 2023, unanimously approved a capital raising exercise via a Public Offer and Rights Issue.
“We will continue to monitor and pro-actively manage the evolving risks in the economy while ensuring our commitments to our customers and shareholders are fulfilled. The interim dividend of 25kobo per share, a 150% increase compared to the 10kobo interim dividend in 2022FY, attests to the value we place on the unwavering support from our shareholders”, stated Onyeali-Ikpe.
Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 8 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria at the 28th annual Euromoney Awards for Excellence 2023; and the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
News
Nigeria’s Pride Awards winner Abubakar Yakubu beats Regina Daniels’ mother to emerge AGN President
By Bonaventure Phillips Melah
Veteran actor and administrator, Alhaji Abubakar Sanusi Yakubu, has been elected as National President of the Actors Guild of Nigeria, AGN. He defeated his rival, Rita Daniel to emerge as winner.
On September 30th 2025, Yakubu was honoured with Nigeria’s Pride Award for Examplery Leadership in recognition of his outstanding contributions to the growth of Nigeria”s entertainment sector and overall performance as a mentor to young people.
In the election that was held in Benin, Edo State, Yakubu, secured majority of the lawful votes cast, and was declared winner ahead of his major opponent, Mrs. Rita Daniels, who is the mother of Nollywood actress, Regina Daniels.
Results of the election were announced Saturday night.
With the victory, Yakubu, fondly called AbuKing, became the first actor from the northern past of country, to head the AGN since its inception.
He will be taking over from Mr. Emeka Ejezie (Emeka Rollas), MON, whose relection for a second term in 2022 meant he could no longer, in line with the AGN Constitution, vie for the position again.
AGN, which is the umbrella body for screen actors in the Nigerian film industry, popularly known as Nollywood, was initially called the Nigeria Actors Guild, NAG.
Though the industry started taking form prior to 1994, however, it was not until 1998 that it was officially registered.
Past Presidents of the Guild are: Larry Williams (1st National President), Emma Oguguah; Zack Orji; Ejike Asiegbu; Segun Arinze; Ibinabo Fiberesima (Only Female President); and Emeka Rollas- all of whom are from the Southern part of the country.
The Guild has over one million registered members that are spread across Nigeria’s 36 states, including the Federal Capital Territory, Abuja.
Prior to his emergence as the first northerner to be elected for the Guild’s top job, Yakubu served as the National Vice President between 1994 and 1995, when the association was known as NAG.
He also served as National Treasurer of AGN (2000 – 2001), Public Relations Officer, AGN (2009-2011), and the National Secretary, a position he held from 2019 till date.
A graduate of Dramatic Arts from Ahmadu Bello University (ABU) Zaria, with about 25 years in film/television and stage acting, all eyes are now on AbuKing to see how he would navigate the wheel of leadership in the AGN for the next three year.
The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, on Saturday, charged the newly commissioned officers to place national interest above all else and uphold absolute loyalty to the Constitution of the Federal Republic of Nigeria..
He gave the charge while presiding over the Passing Out Parade (POP) of Executive Commission Course 2/2025 at the Nigerian Army School of Infantry (NASI), Jaji,
General Shaibu said the commissioning of this new set of officers form a critical component of the President Bola Ahmed Tinubu’s renewed drive to reinforce Nigeria’s security architecture as contained in the declaration of a State of Emergency on Security.
He also said that the commissioning is part of the fulfilment of the President’s directive to expand manpower, strengthen frontline deployments and accelerate security stabilisation efforts nationwide.
The Army Chief expressed confidence in the quality of training received by the officers, noting that their exceptional display of parade and weapon handling reflects the Army’s rising standards at a time when the nation demands heightened operational vigilance.
He urged them to remain uncompromisingly apolitical, disciplined and subordinate to civil authority, stressing that professionalism and constitutional loyalty remain the bedrock of military service.
A Nigerian Air Force jet has ccrashed near Karabonde, Borgu Local Government Area of Niger State.
This was disclosed by a Niger State-based online digital television network, Lapai TV, in a post on its official Facebook page on Saturday evening.
“Two Nigerian Air Force Pilots Reportedly Survive Alpha Jet Crash Close to Karabonde, Borgu Local Government Area of Niger State,” the post stated
The incident was said to have occurred Saturday evening.
At the time of filing this report, the military has yet to make any official communication about the incident.
-
News2 years agoBreaking: Tinubu’s authentic ministerial nominees
-
News9 months agoSenate to speed up conclusion of Nigeria Forest Security Service Bill
-
News2 years ago“Anytime we want to kill terrorists, President would ask us to take permission from France but they were killing our soldiers-” Niger Republic coup leader
-
News2 years ago“I’m leaving the Catholic church because Bishop Onah is oppressing me,” says Okunerere
-
News2 years agoRadio Nigeria’s veteran broadcaster Kelvin Ugwu dies three months after retirement from service
-
News2 years agoDokpesi and the Gazebo Mystique
-
News2 years agoTsunami: Tinubu orders dissolution of managements, boards of MDAs, to sack all Buhari’s political appointees
-
News2 years agoPersons against Allagoa’s reforms behind protests at NSITF