Managing director and chief executive officer of Fidelity Bank Plc Nneka Onyeali-Ikpe has purchased 15 million shares of the bank in a deal worth N239.4 million.
The transaction occurred between November 21 and 22, 2024, at an average price of N15.96 per share.
Specific details, disclosed on the Nigerian Exchange Limited on Monday, show that Onyeali-Ikpe acquired nine million shares at N16.10 each and another six million shares at N15.75 per share.
This purchase, categorised as insider trading, complies with regulatory requirements mandating disclosure of share dealings by directors of publicly listed companies.
Meanwhile, Fidelity Bank Plc reported growth in its financial results for the third quarter of 2024. Gross earnings soared to N772.5 billion, marking a 98.7% increase from N388.8 billion in the same quarter of the previous year. The growth was primarily attributed to higher interest income and other operating revenues.
Net interest income also rose sharply by 141.4%, climbing from N194.96 billion in Q3 2023 to N470.49 billion in Q3 2024. Additionally, fee and commission income experienced a 54.4% growth, increasing from N36.43 billion to N56.28 billion over the same period.
Profit before income tax surged by 153.9% to N281.41 billion, compared to N110.99 billion recorded in Q3 2023. Meanwhile, profit after tax grew by 144.3% to N224.6 billion, up from N91.75 billion in the previous year.
