Fidelity Bank Nigeria
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Public NSE : FIDELITY BANK | |
| Industry | Financial Services |
| Founded | 1988 |
| Headquarters | Fidelity Place 2 Kofo Abayomi Street Lagos, Nigeria |
Key people |
Christopher Ezeh Chairman Nnamdi Okonkwo Managing Director & Chief Executive Officer[1] |
| Products | Loans, Credit Cards, Savings, Investments, Mortgages |
| Total assets | US$6+ billion (NGN:1+ trillion) (2013) |
| Website | Fidelity Bank Homepage |
Fidelity Bank, also known as Fidelity Bank Plc., is a commercial bank in Nigeria. It is licensed as a commercial bank, by the Central Bank of Nigeria, the central bank and national banking regulator.[2]
Overview
In 2011, the bank was ranked the 7th most capitalized bank in Nigeria, the 25th most capitalized bank on the African continent and the 567th most capitalized bank in the world. As of December 2013, Fidelity Bank Plc. was a large financial services provider in Nigeria with total assets estimated at over US$6.318 billion (NGN:1+ trillion), and shareholders' equity in excess of US$1 billion (NGN:158 billion). At that time, the bank served 2.3 million customers at about 220 branches nationally.[3] The bank currently has over 400,000 diverse shareholders. It was listed on the Nigerian Stock Exchange in May 2005 and has consistently paid dividends annually since its listing, as of June 2016, according to BGL Plc, Fidelity Bank Plc had a market capitalisation of NGN:37,072,109,685.76
History
Fidelity Bank of Nigeria was incorporated in the year 1987 and began its operations in 1988. It initially started with a Merchant Banking license, with the objective of positively impacting on the Nigerian economy through participation and contribution to the growth of the Nigerian Economy with the provision of quality and timely financial services. Fidelity Bank converted to a commercial bank in the year 1999 in an attempt to grow, as a private limited company and became a Public Limited Company also in the year 1999, in the month of August. It re-branded to Fidelity Bank Plc that year. It secured its Universal Banking License in February 2001 and also obtained its International Banking License in the year 2011. Fidelity Bank of Nigeria has grown to a stable banking institution, during the 2005 Nigeria Banking consolidation, Fidelity Bank acquired FSB International Bank Plc (“FSB”) and Manny Bank Plc to become one of the top financially stabled banks in Nigeria Fidelity Bank currently has presence in all the States and Major cities in Nigeria, over the years the bank has been reputed for its financial stability Fidelity continues to rank among Nigeria's most capitalized banks, with tier-one capital of nearly USD1 billion (One Billion US Dollars).[4]
Branch Network
The bank maintains a vast network of interconnected branches in all Nigerian states and major cities in Nigeria. It has a wholly owned bank subsidiary in Ghana.
Leadership
Chairman– Chief (Dr) Christopher Ezeh
Managing Director/CEO– Nnamdi J. Okonkwo
Deputy Managing Director– Mohammed Balarabe
Executive Director– Chijoke Ugochukw
Executive Director– Aku P. Odinkemelu
Executive Director– Adeyeye Olawale Adepegba
Executive Director– Nneka Chinwe Onyeali-Ikpe
Corporate Social Responsibility
Fidelity Bank actively has imbibed its CSR as a core function of its banking services. It established the Fidelity Helping Hands Programme, where its area of focus is education, the environment and the health and social welfare. It has over the years actively engaged and supported through its CSR, activities aimed at improving its area of focus through the Fidelity Helping Hands Programme.