According to data provided by BusinessDay, Fidelity Bank Plc, a commercial bank in Nigeria, saw an increase in earnings per share in 2023 to the greatest level in at least ten years.
According to the bank's most recent financial documents, its earnings per share increased from N161.3 in 2022 to N316.6 last year, a 96.2 percent increase.
In contrast, there will be a 31.5 percent increase in 2022.
A company's earnings per share is calculated by dividing its net profit by the total number of outstanding common shares. It is a commonly used indicator for measuring corporate value and also shows how much money a firm makes for each share of its stock.
Greater value is indicated by higher earnings per share because investors would pay more for a firm's shares if they believe the company is making more money than its share price suggests.
As of Tuesday, there were 32.01 million shares outstanding, trading at N12 with a volume of 1.56 million.
Profit after taxes rose from N46.72 billion to N101.30 billion, a 116.8% rise. From N278.4, interest income increased to N432 billion.
From N34.42 billion to N49.67 billion, fees and commission income grew. From N7.05 billion to N46.7 billion, other revenue increased sharply.
Loan recoveries for the bank dropped from N3.96 billion to N470 million. The lender claims that loan recoveries are the sum of money recovered for facilities that were previously written off. Only cash is used for recognition of the amount.
From N34.42 billion to N49.67 billion, fees and commission income grew. From N7.05 billion to N46.7 billion, other revenue increased sharply.
Loan recoveries for the bank dropped from N3.96 billion to N470 million. The lender claims that loan recoveries are the sum of money recovered for facilities that were previously written off. Only cash is used for recognition of the amount.
From N29.73 billion to N52.89 billion, personnel costs grew. From N3.98 billion in 2023 to N6.23 billion in 2023, total assets increased.
The amount of net cash from operating activities rose from N297.59 billion to N547.27 billion. Compared to a positive N36.22 billion, the net cash flow utilized for investing activities was negative at N598.87 billion.
Compared to a negative N256 billion, net cash flow used for financing activities was positive at N90.6 billion. From N300.34 billion to N383.44 billion in cash and cash equivalents.
The amount of net cash from operating activities rose from N297.59 billion to N547.27 billion. Compared to a positive N36.22 billion, the net cash flow utilized for investing activities was negative at N598.87 billion.
Compared to a negative N256 billion, net cash flow used for financing activities was positive at N90.6 billion. From N300.34 billion to N383.44 billion in cash and cash equivalents.
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