FIDELITY BANK PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE INTERIM PERIOD ENDED 30 JUNE 2017
Note
Audited

30 June 2017
30 June 2016
N'million
N'million

Gross Earnings
85,821
70,259

Interest and similar income
72,853
57,006
Interest and similar expense

(38,153)
(25,775)

Net interest income
34,700
31,231

Impairment charge
(4,810)
(4,797)

Net interest income after impairment charge
29,890
26,434

Fee and commission income
9,411
12,034

Fee and commission expense
(1,988)
(1,322)

Other operating income
3,557
1,219

Net gains/(losses) from financial instruments classified as held for trading
250
(776)

Personnel expenses
(11,074)
(12,030)

Depreciation and amortisation
-1,855
(2,107)

Other operating expenses
(17,972)
(17,321)

Profit before income tax
10,219
6,131

Income tax expense
(1,183)
(674)

PROFIT FOR THE PERIOD
9,036
5,457

Other comprehensive income:

Items that will be reclassified subsequently to profit or loss
Net gains/(losses) on available-for-sale financial assets*:
-Unrealised net gains/ (losses) arising during the period
1,995
(2,103)

Net reclassification adjustments for realised net (gains)/ losses
(19)
401

Net other comprehensive income/ (losses) to be reclassified to profit or loss
in subsequent period
1,976
(1,702)

Other comprehensive income/(losses) for the period, net of tax
1,976
(1,702)

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
11,012
3,755
* Income from these instruments is exempted from tax

Earnings per share
Basic and diluted (in kobo)
31
19

Ok .

HY 2017: Fidelity Bank Grows Profit by 65.6% to N9b, Declares no Interim Dividend
https://www.businesspost.ng/2017/08/30/hy-2017-fidelity-bank-grows-profit-by-65-6-to-n9b-declares-no-interim-dividend/

dipoolowoo:
HY 2017: Fidelity Bank Grows Profit by 65.6% to N9b, Declares no Interim Dividend
https://www.businesspost.ng/2017/08/30/hy-2017-fidelity-bank-grows-profit-by-65-6-to-n9b-declares-no-interim-dividend/

"...no interim divided..." Please what does that mean? Thanks

Milo30:

"...no interim divided..." Please what does that mean? Thanks

No divide the will be for d half year period whose result is given

dipoolowoo:
HY 2017: Fidelity Bank Grows Profit by 65.6% to N9b, Declares no Interim Dividend
https://www.businesspost.ng/2017/08/30/hy-2017-fidelity-bank-grows-profit-by-65-6-to-n9b-declares-no-interim-dividend/

No dividend, why nauw

Tbc wallets available for sale at an affordable price..call or WhatsApp me on:08068193548.Grab ur copy now

@fxuser , @intendy , ur contribution pls.

Please i need everyone's contribution .

I have little of both ucap and afriprud..i want to dispose one and keep one ..confused on which to keep ..Any ideal is welcome.

Tritri:
@fxuser , @intendy , ur contribution pls.

Please i need everyone's contribution .

I have little of both ucap and afriprud..i want to dispose one and keep one ..confused on which to kep ..Any ideal is welcome.

I will dispose ucap and keep afriprud based on their respective Q2 result. my opinion

Tritri:
@fxuser , @intendy , ur contribution pls.

Please i need everyone's contribution .
I have little of both ucap and afriprud..i want to dispose one and keep one ..confused on which to keep ..Any ideal is welcome.

Ucap:
- Still Trading below d weekly closing high 3.40 after ex-div !
- Also RSi on d daily facing downwards, Its not breaking out anytime soon. (until a weekly close above 3.40)
- U can jump out and jump back in anytime in d short term

AfriPrud
- same thots ! , u can always come back in !
- trades within a range (see: https://invst.ly/4yhyk)
- never go far , u can always come back in

#IMO

pluto09:


No dividend, why nauw

loll
its not in dem nature oga !
wait till yr end !

I have only one account on nairaland. Thanks.

sellydion:


Nah today. 3 or 4 for one person.

dipoolowoo:
HY 2017: Fidelity Bank Grows Profit by 65.6% to N9b, Declares no Interim Dividend
https://www.businesspost.ng/2017/08/30/hy-2017-fidelity-bank-grows-profit-by-65-6-to-n9b-declares-no-interim-dividend/

Their stock price might witness southern pole today.
As a punishment of not declaring interim dividend as some are hoping for.

Anyway Mr market will decide.

.

BMZK:
From my WO (Watching Observations) not TA, something is being cooked at Fidelity and it is likely going to be delicious meal.

Did you expected dividend before, take your plan and term to final year.
Anyway, their result surpass that of last year with 12 kobo (31 against 19)

what i like about fidelity are in d headLines below

1) FIDELITYBK declares N9.04 billion PAT in Q2'17 Result,(SP:N1.37k)
2) FIDELITYBK declares N9.73 billion PAT in 2016 Audited Results; Proposes 14k Dividend, (SP: N0.84k)

Your report said that "Oando has been cooking it's books for the past 6 years claiming it is making profits while it was swimming in debts".
Pls sir, when and where did Oando publish it has been making profits for the past 6 yrs. Oando that we know published a loss of N184bn in 2014, N38.58bn in H1 2015, several more billion losses in H2 2015 contrary to your report.
Oando just turned profitable last year with a PAT of N3.5bn. This year's H1 PAT of N4.6bn has already dwarfed last year's total PAT. With the way things are going Oando is leaving the abyss.
I am not a fan if Wale but you bloggers has been lying against him too.
Everybody is looking for bad thing to publish about Oando inorder to buy cheaper and position for the future now Oando has turned profitable.

boldwet:
http://independent.ng/oando-shareholders-set-sack-wale-tinubu-board/

fxuser:


loll
its not in dem nature oga !
wait till yr end !

Yes, but it is also not in Dem nature to do half year audited result ke
They just raised our expectations in vain.

it seems like FCMB will hit 1.08 today oh

mindtricks:


Great resource for newbies.

Thanks man

Tritri:
@fxuser , @intendy , ur contribution pls.

Please i need everyone's contribution .

I have little of both ucap and afriprud..i want to dispose one and keep one ..confused on which to keep ..Any ideal is welcome.

like fxuser said both can be both back within a certain range but you can sell any or 50% of each holding.

Warren Buffett becomes top shareholder in Bank of America
Temiloluwa Temiloluwa / 2 hours ago


American billionaire Warren Buffett’s Berkshire Hathaway group has officially become the top shareholder in Bank of America after exercising its right to buy 700 million shares at a discount.

Buffett had received the warrants in 2011 after investing $5 billion in the bank, which was suffering at the time from the fallout from the global financial crisis.

Bank of America said Buffett had acquired the shares for about $7.14 each — well below their Tuesday closing price of $23.58.

Buffett’s investment is now worth $16.51 billion, meaning he has made a capital gain of nearly $12 billion.

“In 2011, we welcomed Berkshire Hathaway as a shareholder, and we appreciate their continued support now as our largest common shareholder,” the bank’s CEO Brian Moynihan said in a statement.

Buffett’s other holdings include major assets in real estate and insurance. He is also the biggest shareholder in Wells Fargo.

AFP

https://www.thisdaylive.com/index.php/2017/08/30/wigwe-banks-cannot-provide-for-power-sector-loans-because-its-systemically-important/

On his prediction for the financial services industry, he said: “I think a couple of things would happen. You don’t just come out of a recession and nothing happens.
“You would see a spike in non-performing loans, particularly as loans mature. You know, some of those loans would just be maturing, so you would see a spike and then it would get better.
“So what you are likely to see, depending on the risk management philosophy of the bank, you would see a spike between now and December 2018.
“But I think the banks are certainly in much better positions to handle it than they did during the last exercise that happened in 2007-2008.

Please when is UBA closing their register for interim dividend?

Stock Analysis: UBA Plc, Upward Revision to 2017F Estimates; BUY
https://www.businesspost.ng/2017/08/30/stock-analysis-uba-plc-upward-revision-2017f-estimates-buy/

The closure date is Thursday, August 31, 2017.

jinnyz:
Please when is UBA closing their register for interim dividend?

dipoolowoo:
The closure date is Thursday, August 31, 2017.

THANKS

Zhirinovsky:
Your report said that "Oando has been cooking it's books for the past 6 years claiming it is making profits while it was swimming in debts".
Pls sir, when and where did Oando publish it has been making profits for the past 6 yrs. Oando that we know published a loss of N184bn in 2014, N38.58bn in H1 2015, several more billion losses in H2 2015 contrary to your report.
Oando just turned profitable last year with a PAT of N3.5bn. This year's H1 PAT of N4.6bn has already dwarfed last year's total PAT. With the way things are going Oando is leaving the abyss.
I am not a fan if Wale but you bloggers has been lying against him too.
Everybody is looking for bad thing to publish about Oando inorder to buy cheaper and position for the future now Oando has turned profitable.

Oga, stop deceiving yourself, is it only Oando that is in the NSE, today trouble, tomorrow wahala. Even if Oando is N2 today I will not touch it.

Sterlin bank Countinue with ur fake orders...Nobody get ur time.

best of luck sir!

kolaish:
Oga, stop deceiving yourself, is it only Oando that is in the NSE, today trouble, tomorrow wahala. Even if Oando is N2 today I will not touch it.