Nigeria Fidelity Bank 2012 pre-tax profit hits 21.6 bln naira

LAGOS, April 16 Tue Apr 16, 2013 7:17am EDT

Related Topics

LAGOS, April 16 (Reuters) - Nigeria's Fidelity Bank said on Tuesday its full-year pre-tax profit jumped to 21.62 billion naira ($136.92 million), from 161 million naira in the previous year, the bank said in a statement to the Nigerian Stock Exchange.

It gave no reason for the increase, but Fidelity is one of several banks that have posted strong results for 2012, after a lacklustre 2011 mostly caused by write offs of bad debts across the sector.

Gross earnings rose to 78.99 billion naira, from 49.53 billion naira in 2011, the bank said.

It also declared a dividend of 0.21 naira per share, compared with 0.14 naira per share previously. ($1 = 157.9 naira) (Reporting by Oludare Mayowa; Editing by Tim Cocks)

FILED UNDER: