By JKNewsMedia
PROMOTIONS HAVE been awarded to 376 employees following the conclusion of Fidelity Bank Plc’s annual performance review exercise.
The figure represents about 12% of the bank’s total workforce and follows the conclusion of its annual performance review exercise.
Fidelity Bank, in a statement, notes that the management’s move comes after the bank posted an extraordinary 210% rise in its Profit Before Tax (PBT), which soared from ₦124.3 billion in 2023 to ₦385.2 billion in 2024.
The announcement was made internally, highlighting a culture of transparency and internal recognition.
The latest round of promotions closely follows a 20% general salary increase executed in June 2025.
This comes on the back of an earlier adjustment in November 2024, affirming a consistent commitment to employee welfare and retention at a time of heightened performance benchmarks across the sector.
It was also stated that Fidelity Bank’s strategic push under the leadership of Dr Nneka Onyeali-Ikpe has delivered consistently strong results.
The institution also recorded a 116% growth in its share price during 2024, the highest in the industry.
This growth was propelled by the successful completion of its Public Offer, which closed with a 238% oversubscription, demonstrating strong investor confidence.
In a further show of confidence in the bank’s financial position, global credit rating agency Fitch Ratings upgraded its National Long-Term Rating from ‘A(nga)’ to ‘A+(nga)’.
Flitch’s revision is described as reflecting a combination of enhanced profitability, disciplined financial management, and robust capital buffers that continue to drive the bank’s upward trajectory within the Nigerian financial ecosystem.
