Earnings Report /

Fidelity Bank: Q1 21 – Good results on lower funding and risk costs

  • Profit was better than expected, growing 64% yoy. Management remains committed to pursuing FY 21 PBT target of NGN35bn

  • Despite recent bond issuance, the group recorded marginal growth in CAR, due to large fair value losses and loan growth

  • We maintain our Buy rating on better operating efficiency and asset quality improvements

Busola Jeje
Busola Jeje

Research Analyst

Tellimer Research
5 May 2021
Published byTellimer Research


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