Shareholders of tier one lender, Fidelity Bank, have applauded the board and administration of the {bank} for delivering an excellent efficiency in FY 2024.
Talking on the {bank}’s thirty seventh Annual Common Assembly (AGM) held nearly on Tuesday, April 29, 2025, the Nationwide Chairman of The Progressive Shareholders Affiliation, Chief Boniface Okezie, praised the {bank}, saying, “It is a superlative efficiency and we the shareholders are grateful to administration and employees for giving us a {bank} to be pleased with. It’s also necessary to notice that the {bank} has earned its spot as one of many prime 3 dividend-paying {financial} establishments in Nigeria.”
On his personal half, the Chairman, Zonal Shareholders Committee, Sir Tunji Okelana, acknowledged the {bank}’s distinctive management, which has seen the {bank} develop to unprecedented heights.
“The achievements of the present MD have surpassed that of everybody who held that workplace earlier than her. As well as, employees working along with her are belongings. They’re actually ‘Constancy, they maintain their phrase’. With none doubt, I’m very pleased with the {bank}”, he declared.
In his remarks on the assembly, the Chairman, Board of Administrators, Fidelity Bank Plc, Mr. Mustafa Chike-Obi, mentioned, “Regardless of the worldwide {economic} headwinds, we demonstrated distinctive resilience, reaching file breaking development throughout all efficiency indicators, most notably our Revenue Earlier than Tax (PBT)”.
He additional added that the {bank}’s stakeholders had been all happy with the success of the primary stage of the capital-raise train. “The oversubscription of 237.9% within the Public Provide and 137.7% within the Rights Concern is a testomony to the energy of our model and the arrogance the investing public has in us. Geared up with this vote of belief, we are going to proceed swiftly and conclude the second tier of our capital-raise train”.
Managing Director/Chief Govt Officer, Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe in her assertion to shareholders, shared the strategic outlook to construct on the {bank}’s FY 2024 success stating that, “Our priorities in 2025 {financial} yr are to finish the following part of our capital elevate and additional strengthen our asset base, improve operational effectivity and digital innovation and discover strategic regional enlargement into choose African markets.”
Based on the {bank}’s 2024 annual report obtainable on its web site and distributed to shareholders, the {bank} recorded a formidable 210% development in Revenue Earlier than Tax to N385.2 billion. Gross Earnings elevated by 87.7% to N1,043.4bn, pushed by 106.9% development in curiosity and comparable earnings to N950.6bn. The {bank} additionally witnessed a formidable 47.9% development in deposits from N4.0trn in 2023FY to N5.9trn whereas Advances grew from N3.1tn in 2023FY to N4.4tn in 2024FY.
A number of resolutions had been thought-about and handed on the AGM, together with the declaration of a ultimate dividend of N1.25 kobo, the election of non-executive administrators -Alhaji Abdullahi Sarki Mohammed and Ms. Obiaku Augusta Okam; the election of Mr Sufiyanu Ibrahim Garba as government director; and the re-election of non-executive administrators -Mr Mustapha Chike-Obi and Engr Henry Obih, amongst others.
Ranked among the many finest banks in Nigeria, Fidelity Bank Plc is a full-fledged Industrial Deposit Cash {Bank} serving over 9.1 million prospects by way of digital banking channels, its 255 enterprise places of work in Nigeria and United Kingdom subsidiary, FidBank UK Restricted.
