Earnings Report /
Nigeria

Fidelity Bank: Q2 21 profits soar on lower operating and risk costs

  • Fidelity Bank's profit was better-than-expected, growing 78% yoy as the group's cost-saving initiatives yielded fruit

  • However, improved yields and lower system liquidity are putting significant pressures on funding costs

  • We maintain our Buy rating on Fidelity Bank, due to its improved operating efficiency and asset quality

Busola Jeje
Busola Jeje

Research Analyst

Tellimer Research
29 September 2021
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