Fidelity Bank Plc H1 2018 Conference Call and Earnings Presentation - The Key Takeaways

Friday, September 28, 2018 04:28 PM / Proshare Markets

Fidelity Bank Plc held its H1 2018 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals.

The bank, in its presentation gave an overview of the operating environment. The bank stated that Naira has been relatively stable as it records growing deposits on the back of improving macros.

Fidelity Bank Plc, according to its 2018 half year financial highlights, recorded a gross earnings of N88,917bn in H1 2018 as against N85,821bn in H1 2017, up by 3.6% YoY while its net interest income moved down by 6.2% from N30,887bn in H1 2018 as against N32,944bn in H1 2017.The bank’s  Profit Before Tax increased by 27.3%  YoY from N10,219bn in H1 2017 to N13,010bn in H1 2018.  

Its balance sheet snapshot reflected that its shareholders’ funds declined by -9.4% while its total assets moved up by 13.7%.

At the close of trading today, the shares of Fidelity Bank Plc moved down by a tick size of -1.73% to close at N1.70k from the previous price of N1.73k.  YTD, the stock has dropped by -30.89%.

In a nutshell, below are the key takeaways from the H1 2018 earnings presentation made by the bank’s management;

1. Fidelity Bank Plc remained focus to achieving its guidance of N25bn PBT at the end of the current financial year.
   
2. About 40% of its customers now self-enrolled on mobile/internet banking products.
   
3. On operations and contact channels, the bank at the end of Q2 2018 has 4,513 POS, 2m ATM Cards and 778 Automated Teller Machines coupled with 1.6m mobile customers.
   
4. Fidelity Bank’s CAR improved to 17.0% from 16.0% in 2017FY as capitalized profit increased Tier 1 Capital by N10.1 billion; and
   
5. The bank is on track on its 2018FY guidance on all indices except for its loan growth
   

Visit Fidelity Bank Plc IR Page on Proshare MARKETS

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