By JKNewsMedia
SHAREHOLDERS OF Fidelity Bank Plc have praised the institution’s leadership and workforce for delivering a remarkable financial performance in 2024, cementing its status among Nigeria’s elite lenders.
The commendations came during the bank’s 37th Annual General Meeting, held virtually on Tuesday 29 April 2025.
Chief Boniface Okezie, National Chairman of The Progressive Shareholders Association, hailed the bank’s performance as “superlative,” highlighting Fidelity’s ascent into the top three dividend-paying banks in the country.
“We the shareholders are grateful to management and staff for giving us a bank to be proud of,” Okezie declared.
Echoing the sentiment, Sir Tunji Okelana, Chairman of the Zonal Shareholders Committee, described the bank’s current leadership as transformational.
“The achievements of the current MD have surpassed that of everyone who held that office before her. Staff working with her are assets. They are truly ‘Fidelity—they keep their word.’”
Chairman of the Board, Mr Mustafa Chike-Obi, addressed shareholders with optimism, stating that Fidelity Bank delivered record growth across all performance indicators despite global economic challenges.
“Most notably, our Profit Before Tax (PBT) achieved record-breaking growth,” he said.
He pointed to the overwhelming success of the first stage of the bank’s capital-raising exercise, noting a 237.9% oversubscription in the Public Offer and a 137.7% oversubscription in the Rights Issue.
“This is a testament to the strength of our brand and the confidence the investing public has in us,” Chike-Obi added.
Managing Director and CEO, Dr Nneka Onyeali-Ikpe, outlined the bank’s 2025 strategy, reaffirming its commitment to capital expansion, digital innovation, and regional market growth.
“Our priorities are to complete the next phase of our capital raise, strengthen our asset base, enhance operational efficiency, and explore strategic expansion into select African markets,” she said.
According to the bank’s 2024 annual report, Fidelity Bank recorded a 210% rise in Profit Before Tax, reaching N385.2 billion.
Gross earnings surged by 87.7% to N1.043 trillion, driven by a 106.9% increase in interest and similar income.
Deposits rose 47.9% to N5.9 trillion, while advances increased from N3.1 trillion to N4.4 trillion.
At the AGM, shareholders approved several resolutions, including a final dividend of N1.25 kobo, the election of Alhaji Abdullahi Sarki Mohammed and Ms Obiaku Augusta Okam as non-executive directors, and the appointment of Mr Sufiyanu Ibrahim Garba as executive director.
Re-elections of Mr Mustapha Chike-Obi and Engr Henry Obih were also confirmed.
Fidelity Bank serves over 9.1 million customers through digital platforms and 255 branches across Nigeria, alongside its UK subsidiary, FidBank UK Limited.
Recognised as one of Nigeria’s top banks, it has garnered multiple awards for innovation and excellence, including accolades for mobile banking, SME services, and export financing.
