{"id":59547,"date":"2023-11-14T16:53:34","date_gmt":"2023-11-14T16:53:34","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=59547"},"modified":"2023-11-14T15:37:02","modified_gmt":"2023-11-14T15:37:02","slug":"fidelity-bank-reports-gh%e2%82%b5620-73-million-profit-in-third-quarter","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-reports-gh%e2%82%b5620-73-million-profit-in-third-quarter","title":{"rendered":"Fidelity Bank reports GH\u20b5620.73 million profit in third quarter"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Fidelity Bank Ghana Limited, the largest privately-owned Ghanaian bank, recorded a GHS 620.73 million profit in the Third Quarter of the year.<\/b><\/p>\n

According to report detailing the performance of the Bank in the third quarter, the profit before income tax soared by 40 per cent.<\/p>\n

An official statement issued, said these developments, reaffirmed the Bank\u2019s prudent financial management and forward-thinking approach.<\/p>\n

\u201cDespite post-Domestic Debt Exchange Programme (DDEP) impact losses incurred by the Bank, the Bank also reports a 67 per cent increase in shareholder\u2019s funds,\u201d it said.<\/p>\n

\u201cIt closed the third quarter at GHS 1.09 billion, as it maintained a robust capital adequacy ratio (CAR), which remains pegged well above the prudential minimum regulatory requirement.\u201d<\/p>\n

This achievement underscored the Bank\u2019s strong capital base and a culture of rigorous risk management, the statement said.<\/p>\n

The Bank also made progress in other aspects of its operations, including a surge in operating income, growth in assets, loan advancement to customers, growth in deposits, corporate social responsibility, and environmental stewardship.<\/p>\n

\u201cFidelity Bank Ghana achieved a remarkable surge in its operating income, reaching an impressive GHS 1.38 billion, representing a substantial 36 per cent increase compared to the same period last year,\u201d the report said.<\/p>\n

\u201cThis robust growth showcases the Bank\u2019s strategic agility in seizing market opportunities, even in a challenging business environment.<\/p>\n

\u201cThe bank also registered a commendable seven per cent growth in assets, amounting to GHS 15.94 billion, which is a testament to its strong financial standing and astute risk management practices.<\/p>\n

\u201cThe bank recorded a notable five per cent increase in loans and advances to customers, totaling GHS 3.03 billion, which underscores the Bank\u2019s unwavering commitment to facilitating access to credit.<\/p>\n

\u201cA substantial 25 percent growth in deposits from customers reinforces the efficacy of the bank\u2019s customer-centric strategies and innovative product offerings.\u201d<\/p>\n

The statement described the Bank\u2019s commitment to giving back to society as a \u201cshining example of social responsibility\u201d.<\/p>\n

\u201cThe Bank\u2019s recent contribution of GH\u00a2 147,614 to the Enactus team at C.K. Tedam University of Technology and Applied Sciences underscores its dedication to nurturing youth entrepreneurship.<\/p>\n

\u201cThe Bank\u2019s donation of GH\u00a2100,000 worth of essential relief items to the National Disaster Management Organisation (NADMO) to aid flood victims in the Volta region demonstrates its unwavering support for the community during times of crisis.\u201d<\/p>\n

The statement referred to the Bank\u2019s sustainability and environmental stewardship, saying its month-long awareness campaign designed to foster a culture of sustainability consciousness among Ghanaians was a testament.<\/p>\n

\u201cFidelity Bank\u2019s exceptional performance in the third quarter of 2023 not only highlights its resilience, strategic acumen, and robust operational capabilities but also reinforces the bank\u2019s commitment and significant contribution to ensuring societal well-being,\u201d it said.<\/p>\n

Julian Opuni, Managing Director of Fidelity Bank Ghana, emphasised the Bank\u2019s resilience and community-centric values, which he said, had been pivotal in driving impactful change within Ghana\u2019s banking industry.<\/p>\n

He stated: \u201cOur resilience extends beyond our financial performance; we are an integral part of the communities we serve.<\/p>\n

\u201cOur commitment to sustainable development, youth empowerment, and environmental stewardship remains at the core of our values.\u201d<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Fidelity Bank Ghana Limited, the largest privately-owned Ghanaian bank, recorded a GHS 620.73 million profit in the Third Quarter of the year. According to report detailing the performance of the Bank in the third quarter, the profit before income tax soared by 40 per cent. An official statement issued, said these developments, […]<\/p>\n","protected":false},"author":84,"featured_media":59546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-59547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nFidelity Bank reports GH\u20b5620.73 million profit in third quarter - Ghana<\/title>\n<meta name=\"description\" content=\"Fidelity Bank Ghana Limited, the largest privately-owned Ghanaian bank, recorded a GHS 620.73 million profit in the T ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-reports-gh\u20b5620-73-million-profit-in-third-quarter\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fidelity Bank reports GH\u20b5620.73 million profit in third quarter\" \/>\n<meta property=\"og:description\" content=\"Fidelity Bank Ghana Limited, the largest privately-owned Ghanaian bank, recorded a GHS 620.73 million profit in the T ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-reports-gh\u20b5620-73-million-profit-in-third-quarter\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-14T16:53:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/11\/sm_1699963517.293744.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"570\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-reports-gh%e2%82%b5620-73-million-profit-in-third-quarter#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-reports-gh%e2%82%b5620-73-million-profit-in-third-quarter\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fidelity Bank reports GH\u20b5620.73 million profit in third quarter\",\"datePublished\":\"2023-11-14T16:53:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-reports-gh%e2%82%b5620-73-million-profit-in-third-quarter\"},\"wordCount\":535,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-reports-gh%e2%82%b5620-73-million-profit-in-third-quarter#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/11\/sm_1699963517.293744.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-reports-gh%e2%82%b5620-73-million-profit-in-third-quarter#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-reports-gh%e2%82%b5620-73-million-profit-in-third-quarter\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-reports-gh%e2%82%b5620-73-million-profit-in-third-quarter\",\"name\":\"Fidelity Bank reports GH\u20b5620.73 million profit in third quarter - 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