Fidelity Bank’s FY 2024 performance praised by shareholders

Shareholders of tier 1 lender, Fidelity Bank, person applauded the committee and absorption of the slope for delivering an outstanding show successful FY 2024.

Speaking astatine the 37th Annual General Meeting (AGM) held virtually connected Tuesday, April 29, 2025, the National Chairman of The Progressive Shareholders Association, Chief Boniface Okezie, praised the bank.

“This is simply a superlative show and we the shareholders are grateful to absorption and unit for giving america a slope to beryllium arrogant of,” helium said. “It is besides important to enactment that the slope has earned its spot arsenic 1 of the apical 3 dividend-paying fiscal institutions successful Nigeria.”

In his remarks, the Chairman, Zonal Shareholders Committee, Sir Tunji Okelana, recognized the bank’s exceptional leadership, which has seen the slope turn to unprecedented heights.

“The achievements of the existent MD person surpassed those of everyone who held that bureau earlier her. In addition, unit moving with her are assets. They are genuinely ‘Fidelity, they support their word’. Without immoderate doubt, I americium precise blessed with the bank”, helium declared.

Chairman, Board of Directors, Fidelity Bank Plc, Mr. Mustafa Chike-Obi, said, “Despite the planetary economical headwinds, we demonstrated exceptional resilience, achieving grounds breaking maturation crossed each show indicators, astir notably our Profit Before Tax (PBT)”.

The president further noted that the bank’s stakeholders were each pleased with the occurrence of the archetypal signifier of the capital-raise exercise.

“The oversubscription of 237.9% successful the Public Offer and 137.7% successful the Rights Issue is simply a testament to the spot of our marque and the assurance the investing nationalist has successful us. Equipped with this ballot of trust, we volition proceed swiftly and reason the 2nd tier of our capital-raise exercise”.

Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe, successful her connection to shareholders, shared the strategical outlook to physique connected the bank’s FY 2024 success.

“Our priorities successful the 2025 fiscal twelvemonth are to implicit the adjacent signifier of our superior rise and further fortify our plus base, heighten operational ratio and integer innovation and research strategical determination enlargement into prime African markets,” she said.

According to the bank’s 2024 yearly study disposable connected its website and distributed to shareholders, the slope recorded an awesome 210% maturation successful Profit Before Tax to N385.2 billion.

Gross Earnings accrued by 87.7% to N1,043.4bn, driven by 106.9% maturation successful involvement and akin income to N950.6bn. The slope besides witnessed an awesome 47.9% maturation successful deposits from N4.0trn successful 2023FY to N5.9trn portion Advances grew from N3.1tn successful 2023FY to N4.4tn successful 2024FY.

Several resolutions were considered and passed astatine the AGM, including the declaration of a last dividend of N1.25 kobo, the predetermination of non-executive directors – Alhaji Abdullahi Sarki Mohammed and Ms. Obiaku Augusta Okam; the predetermination of Mr Sufiyanu Ibrahim Garba arsenic enforcement director; and the re-election of non-executive directors – Mr Mustapha Chike-Obi and Engr Henry Obih, among others.

Ranked among the champion banks successful Nigeria, Fidelity Bank Plc is simply a full-fledged Commercial Deposit Money Bank serving implicit 9.1 cardinal customers done integer banking channels, its 255 concern offices successful Nigeria and United Kingdom subsidiary, FidBank UK Limited.

Its aggregate section and planetary awards see the 2024 Excellence successful Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application grant for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider grant by Global Brands Magazine.

Additionally, Fidelity Bank was recognized arsenic the Best Bank for SMEs successful Nigeria by the Euromoney Awards for Excellence and arsenic the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.