International credit standing company, Fitch Rankings, has affirmed Fidelity Bank Plc’s Lengthy-Time period Issuer Default Score (IDR) at ‘B’ and upgraded its Nationwide Lengthy-Time period Score to ‘A+(nga)’ from ‘A(nga)’. The improve, introduced on Could 29, 2025, displays the {bank}’s strengthened capital buffers and improved profitability, signaling continued optimistic momentum in its efficiency.
In accordance with Fitch, the ranking improve is underpinned by Fidelity Bank’s profitable capital elevate by way of a rights concern and public supply, in addition to a notable enchancment in profitability—pushed by greater curiosity revenue and a steady base of low-cost present and financial savings deposits.
Commenting on the announcement, Managing Director/CEO of Fidelity Bank, Dr. Nneka Onyeali-Ikpe, mentioned, “This improve by Fitch Rankings affirms the resilience of our enterprise mannequin, the energy of our danger administration practices, and our unwavering give attention to delivering sustainable worth to stakeholders. Regardless of a difficult macroeconomic atmosphere, now we have continued to keep up sturdy asset high quality, strong profitability, and ample liquidity. This recognition reinforces our place as one among Nigeria’s most resilient and customer-focused {financial} establishments.”
One of many key drivers of the improved ranking is the {bank}’s sturdy capitalization. Fitch reviews that Constancy’s Fitch Core Capital (FCC) ratio rose to 29.9% on the finish of 2024—nicely above the regulatory minimal. The company additionally famous that additional capital elevating efforts are anticipated to place the {bank} to satisfy the ₦500 billion minimal capital requirement for internationally licensed banks earlier than the 2025 deadline.
Fidelity Bank’s market positioning stays sturdy. As Nigeria’s sixth-largest {bank}, it instructions roughly 5% of whole banking sector property. The {bank}’s stability sheet is bolstered by a excessive proportion of low-cost deposits, which accounted for 93% of whole deposits as of year-end 2024—among the many highest within the Nigerian banking trade.
The affirmation and improve by Fitch is predicted to reinforce investor confidence and help Constancy’s continued efforts to scale its operations each regionally and internationally.
Ranked among the many finest banks in Nigeria, Fidelity Bank Plc is a full-fledged Industrial Deposit Cash {Bank} serving over 9.1 million clients by way of digital banking channels, its 255 enterprise workplaces in Nigeria and United Kingdom subsidiary, FidBank UK Restricted.
The {Bank} is the recipient of a number of native and worldwide Awards, together with the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and {Financial} Establishments (BAFI) Awards; the 2024 Most Progressive Cell Banking Utility award for its Constancy Cell App by International Enterprise Outlook, and the 2024 Most Progressive Funding Banking Service Supplier award by International Manufacturers Journal. Moreover, the {Bank} was acknowledged because the Finest {Bank} for SMEs in Nigeria by the Euromoney Awards for Excellence and because the Export Financing {Bank} of the Yr by the BusinessDay Banks and {Financial} Establishments (BAFI) Awards.
