Category: Business

Emmanuel lkpeama 

Global credit rating agency, Fitch Ratings, has affirmed Fidelity Bank Plc’s Long-Term Issuer Default Rating (IDR) at ‘B’ and upgraded its National Long-Term Rating to ‘A+(nga)’ from ‘A(nga)’.

The upgrade, announced on May 29, 2025, reflects the bank’s strengthened capital buffers and improved profitability, signaling continued positive momentum in its performance.

According to Fitch, the rating upgrade is underpinned by Fidelity Bank’s successful capital raise through a rights issue and public offer, as well as a notable improvement in profitability—driven by higher interest income and a stable base of low-cost current and savings deposits.

Commenting on the announcement, Managing Director/CEO of Fidelity Bank, Dr. Nneka Onyeali-Ikpe, said, “This upgrade by Fitch Ratings affirms the resilience of our business model, the strength of our risk management practices, and our unwavering focus on delivering sustainable value to stakeholders.

Despite a challenging macroeconomic environment, we have continued to maintain strong asset quality, solid profitability, and ample liquidity.

This recognition reinforces our position as one of Nigeria’s most resilient and customer-focused financial institutions.”

One of the key drivers of the improved rating is the bank’s robust capitalization. Fitch reports that Fidelity’s Fitch Core Capital (FCC) ratio rose to 29.9% at the end of 2024—well above the regulatory minimum.

The agency also noted that further capital raising efforts are expected to position the bank to meet the ₦500 billion minimum capital requirement for internationally licensed banks before the 2025 deadline.

Fidelity Bank’s market positioning remains strong. As Nigeria’s sixth-largest bank, it commands approximately 5% of total banking sector assets.

The bank’s balance sheet is reinforced by a high proportion of low-cost deposits, which accounted for 93% of total deposits as of year-end 2024—among the highest in the Nigerian banking industry.

The affirmation and upgrade by Fitch is expected to enhance investor confidence and support Fidelity’s continued efforts to scale its operations both locally and internationally.

It will be recalled that Fidelity Bank is ranked among the best banks in Nigeria. It is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

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

Emmanuel lkpeama 

A Leading African financial institution, Fidelity Bank Plc, is set to hold the 3rd edition of its flagship market access platform, the Fidelity International Trade and Creative Connect (FITCC) Expo from September 18 to 20, 2025, at the Omni Atlanta Hotel at Centennial Park, Georgia, USA.

In a strategic move to deepen diaspora and transatlantic business linkages, Fidelity Bank is partnering with Amplify Africa, the organizers of AFRICON, the leading African diaspora business and culture summit in the United States. This collaboration brings together two powerful platforms committed to bridging African enterprise with global opportunity.

“Since 2022, when we hosted the maiden edition, FITCC has evolved beyond a platform for promoting Nigeria’s non-oil exports to become a veritable showcase of the immense value Nigeria has to offer the global market.

“As part of our commitment to developing platforms that promote economic growth, creativity, and sustainable trade both within Nigeria and internationally, we are pleased to announce the third edition of FITCC. Since 2022 when we hosted the inaugural edition, the FITCC expo has been at the heart of driving global market access for local businesses and I am delighted that this year we will be in the city of Atlanta, USA,” stated Dr Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc.

Following the success of previous editions in London and Houston, which collectively generated a consolidated deal pipeline exceeding US$500 million, FITCC Atlanta 2025 will convene over 100 Nigerian exporters, alongside U.S. buyers, investors, policy stakeholders, and diaspora-led business networks.

The expo will spotlight strategic sectors including agriculture, consumer-packaged goods, energy transition minerals, fashion, beauty, and the broader creative economy. Programming highlights include business exhibitions, B2B matchmaking, policy dialogues, diaspora investment panels, and curated workshops focused on expanding Nigeria’s access to global markets.

FITCC 2025 is expected to attract over 3,000 participants, including development finance institutions, chambers of commerce, trade facilitation agencies, and multinational corporations. The event is also aligned with ongoing government-led efforts to expand U.S.–Nigeria trade and investment under emerging bilateral frameworks.

Interested participants can register to attend by visiting https://www.fidelitybank.ng/fitcc/#start_registering

Investigator news reports that Fidelity Bank is ranked among the best banks in Nigeria. Fidelity Bank Plc is also a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Emmanuel Clement 

The Nigerian Exchange Group (NGX) has affirmed that the recent purchase of 18 million units of Fidelity Bank shares by its Managing Director/Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, was conducted in full compliance with applicable regulations.  

In a letter dated May 22, 2025, the regulator dismissed allegations of insider trading and the misuse of bank funds for the transaction stating “following the filing of the Bank’s 2025 Q1 UFS on 30 April 2025, the Directors and other insiders of the Bank became eligible to trade on the securities of the Bank after twenty-four (24) hours.

Therefore, the share purchase transaction referenced by Sahara Reporters which occurred on 19 May 2025 was transacted during an open trading window and NGX RegCo is not aware of any other price sensitive information that the Bank is required to disclose which should hinder trades on the securities of the Bank by insiders.”

Fidelity Bank has subsequently issued a statement addressing the accusations, categorizing them as false, misleading, and maliciously intended to tarnish the reputation of both the bank and its MD/CEO, as well as to mislead the investment community and the general public.

Signed by the bank’s Divisional Head of Brand and Communications, Dr Meksley Nwagboh, the statement clarified that Fidelity Bank was compelled to respond to the erroneous article published on May 21, 2025.

“As a publicly quoted company regulated by the NGX and subject to the Listing Rules of the NGX and the Securities and Exchange Commission (SEC) regulations, we unequivocally confirm that neither the Bank nor its MD/CEO has ever engaged in insider trading.”

Dr Nwagboh further emphasized that the MD/CEO personally funded the share purchase and did not utilize bank funds or take a loan for the transaction.

The statement reaffirmed that the transaction was conducted in strict adherence to the Listing Rules and insider trading regulations governing publicly traded companies.

by Iheanyi Nwachukwu

After muted days of buy activities, Nigeria’s stock market recorded early rally on Friday as invested pounced on the stocks of Fidelity Bank Plc.

As at 11am, the NGX All Share Index (ASI) was up by 0.19 percent to 109,385.94 points. Fidelity Bank was up to N18.60, after adding N1.255 (6.63 percent).

After Thursday’s negative close, Vetiva analysts said in their post trading commentary that, “With market breadth weakening and key sectors under pressure, investors may stay defensive unless renewed buying interest emerges in oversold key names. Barring a strong rebound in the banks or consumer goods space, the market looks set to close the week on a softer note”.

Read Also:Fidelity Emerges Fastest Growing Brand As Value More Than Triples.

BusinessDay had ahead of Friday’s trading told investors to buy into recent dip in the stock market, specifically why they should hold or buy the Fidelity Bank stocks.

Fidelity Bank’s recent financial results provide further context. The lender recorded a Profit Before Tax of N105.8 billion in the first quarter of 2025, up 167.8 percent from the same period in 2024. Gross earnings also rose by 64.2 percent year-on-year to N315.4 billion, driven by both interest and non-interest income.

On the balance sheet, the bank’s total deposits climbed to N6.6 trillion, representing an 11.1 percent increase year-to-date, while net loans and advances rose by 5 percent to N4.6 trillion. These figures suggest sustained liquidity and the capacity to manage lending and investment operations effectively.

Emmanuel lkpeama 

Tier-one lender, Fidelity Bank Plc, has recently announced salary increments for its staff following a remarkable full year 2024 financial performance.

The salary increase announced in May follows a prior increment from November 2024 and aims to recognize staff contributions in customer service and achieving corporate goals.

It will be recalled that the Dr. Nneka Onyeali-Ikpe-led institution recorded the highest growth in year-on-year profitability in the Nigerian banking industry in 2024 with a 210% growth in Profit Before Tax to N385.2 billion.

Similarly, the bank recently announced that it was on the verge of closing out on the Central Bank of Nigeria-mandated recapitalization directive with a private placement exercise scheduled to conclude in June 2025.

by Wasiu Alli

Fidelity Bank Nigeria has emerged as the fastest-growing Nigerian brand as the lender’s value more than tripled, displacing Stanbic IBTC, a new report by Brand Finance, a London-based brand valuation consultancy revealed.

The bank’s emergence highlights the lender’s expanding market influence and strong investor confidence as the financial institution continues to deliver value for its customers amid tough economic conditions.

“Fidelity Bank’s brand value growth is underpinned by strong financial performance in 2024, during which the bank reported a 210% increase in Profit Before Tax (PBT), soaring to N385.2 billion,” Brand Finance said in its annual valuation report.

“Gross earnings also rose significantly, reflecting both higher interest income and a growing customer base,” it added.

The bank’s public offer which it announced in February was oversubscribed by 237.9 percent, and its rights issue saw a 137.7 percent oversubscription, reflecting strong investor confidence in the bank’s strategic direction.

“The bank’s operational excellence and strategic direction have been widely recognised, most notably being named “Nigeria’s Best Private Bank” at the Euromoney Awards 2025,” the report indicated.

“This recognition reinforces Fidelity Bank’s strong reputation for delivering tailored wealth management solutions and outstanding client service, across Nigeria and beyond.”

The bank is gaining investors’ attention, a situation that has made it rejoin the group of Nigerian companies with a market capitalisation of N1 trillion.

This was followed by a 5.3 percent rise in its share price from N19.95 to N21.00 at the close of trading on May 13, 2025, on the Nigerian Exchange Limited.

Last year, Fidelity Bank’s stock gained 141 percent, rising from N8.70 in May 2024. The rally is partly attributed to the bank’s robust 2024 financial performance, where it posted a 189 percent increase in profit after tax, the highest among Nigeria’s top 10 banks.

That growth has extended into 2025, as the bank recorded a 190 percent surge in after-tax profit to N91 billion in the first quarter, supported by increased interest income, foreign exchange gains, and improved cost efficiency.

Fidelity Bank is however on course to meet the Central Bank of Nigeria’s N500 billion minimum capital requirement through equity.

The report stated that United Bank for Africa (UBA) and First Bank of Nigeria are now the strongest brands in Nigeria, defying volatile economic conditions to deliver value and build customer loyalty.

Brand Finance also revealed that Access Bank retained its position as the most valuable Nigerian brand for the fourth consecutive year, as Nigeria’s biggest lender by assets more than doubled its brand value to N893.3 billion.

For the 2025 ranking, banks shine as the lenders accounted for 59 percent of total brand value, indicating robust growth and strong performance of the banking sector amid tough economic times.

Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors.

Brand Finance analysed banking brands’ internationality to better understand their positioning and performance in an increasingly globalised market. It adopted the royalty relief approach in measuring organisation brand value. The method involves a combination of the market and income valuation approaches.