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 Fidelity Bank Plc Signs the UN Principles for Responsible Banking Fidelity Bank Plc has officially become a signatory to the UN Principles for Responsible Banking (PRB), a comprehensive framework for fostering a sustainable banking industry developed in collaboration with banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI). The Principles serve as a leading framework to ensure that banks align their strategies and practices with the societal vision outlined in the UN Sustainable Development Goals and the Paris Climate Agreement. Banks endorsing these Principles commit to adopting ambitious sustainability strategies, integrating sustainability into their core business operations, and maintaining a pioneering position in sustainable finance. As part of the commitment to the Principles, signatory banks undertake to assess and quantify the environmental and social impact arising from their business activities. They establish and implement targets in a

 Fidelity Bank Set To Host 2 Days Of Family Entertainment In the festive spirit of the Yuletide season, Fidelity Bank Plc has revealed its plans to organize the inaugural Fidelity Family Weekend. This event is set to take place on Saturday, 16, and Sunday, 17 December 2023, at the Fidelity Grounds in Oniru, Victoria Island, Lagos. The primary aim is to offer a joyful and laid-back atmosphere, providing children with playtime, parents with relaxation, and young adults with an opportunity to unwind during the holiday season. Meksley Nwagboh, Ph.D., Divisional Head of Brand & Communications at Fidelity Bank Plc, highlighted the significance of the Yuletide season as a time for bringing loved ones together. He emphasized the bank's commitment to creating memorable experiences for its clients, introducing the Fidelity Family Weekend as a way to celebrate and show appreciation to customers for a successful year. The Fidelity Family Weekend is scheduled to run from 10 am to 10 pm dail

Fidelity Bank wins Export Finance Bank of the Year award at 2023 BusinessDay BAFI Awards   Fidelity Bank Plc has once again secured its position as a leader in the exports sector by being named the Export Finance Bank of the Year at the 2023 BusinessDay and Other Financial Institutions (BAFI) Awards. The award was presented to the bank during a prestigious dinner event held on Saturday, October 28, 2023, at the Lagos Continental Hotel, Victoria Island, Lagos. BusinessDay Media Limited, the organizers of the BAFI Awards, emphasized the significance of these awards as a benchmark of distinction within the Nigerian financial services sector. In its 10th year, the awards aim to recognize and celebrate institutions that excel in delivering financial services in Nigeria. Mrs. Nneka Onyeali-Ikpe, the MD/CEO of Fidelity Bank Plc, expressed gratitude for the recognition and dedicated the award to the bank's customers. She highlighted the bank's commitment to supporting its customers in

 Fidelity Bank Boosts Nigeria’s Non-oil Exports With FITCC Houston The eagerly anticipated second edition of the Fidelity International Trade and Creative Connect (FITCC) commenced with enthusiasm on Tuesday, October 24, 2023. Fidelity Bank Plc, a leading financial institution, played host to a diverse audience including businesses, regulators, members of the diplomatic corps, and other esteemed guests at the opening ceremony held in Houston, Texas, United States of America. Dubbed FITCC Houston, this two-day event aims to achieve several objectives, including increasing the pipeline of Nigerian businesses exporting to the US market, offering more ethnic product options to the diaspora market, and empowering exporters to enhance product quality and meet international standards. Mrs. Nneka Onyeali-Ikpe, MD/CEO of Fidelity Bank Plc, welcomed participants and emphasized the necessity for businesses to seek viable alternatives in the face of global developments. She highlighted the imperat

 Fidelity records PBT of N76.3bn for H1 2023 Fidelity Bank Plc has reported a remarkable 204.4% growth in Profit Before Tax (PBT) for the first half of 2023, reaching N76.3 billion. The bank's recently released financial results highlight positive performance across various financial indices, reinforcing its standing as one of Nigeria's fastest-growing and well-managed financial institutions. As of September 1, 2023, the results, published on the Nigerian Exchange Group (NGX), indicated a 59.6% growth in gross earnings to ₦247.1 billion from ₦154.8 billion in June 2022. Profit After Tax increased by 166.0% to ₦61.9 billion, compared to ₦23.3 billion in the corresponding period, translating to an Earnings per Share of 194 kobo. The bank's Net Loans & Advances rose by 25.1% to ₦2.6 trillion, and Customer Deposits grew by 23.2% to ₦3.2 trillion. Fidelity Bank maintained a robust balance sheet with a 27.4% growth in Total Assets, reaching ₦5.1 trillion from ₦3.9 trillion in

 Fidelity Bank to help Schools prepare for New School Session with Edu Loan Product As the summer break winds down, leading financial institution, Fidelity Bank, has emphasised its devotion to help schools prepare adequately for the next session and deliver quality education.   Through its bespoke product known as the Fidelity Edu Loan, administrators of registered private primary, secondary and tertiary institutions in Nigeria can access loans of up to N180million.   In a chat with journalists, Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede said, “At Fidelity Bank, we recognize the pivotal role quality education plays in the development of any nation and this informed our introduction of the Fidelity Edu Loan. Through the offering, privately-run educational institutions can access loans at a friendly rate for working capital needs like minor renovation on their school property, financing the purchase of school supplies like books, teaching materials, furniture or u

 Fidelity Bank boss advocates measures to curb e-fraud challenges Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe has called on the Nigeria Electronic Fraud Forum, NeFF to come with solutions to the challenges posed by electronic fraud to financial system. According to a report published in Vanguard Newspaper, she made this call in Lagos while speaking at the 3rd quarter general meeting of NeFF. Nneka Onyeali-Ikpe explained that e-fraud are activities carried out online to exploit individuals and business entities for financial gain. She listed examples of e-fraud to include: Phishing; Advanced fee fraud (419); Online Auction Fraud; Identity Theft; Tech Support Scams; Online Romance Scam; Investment Scam; Business Email compromise; Ransomware; Online Rental Schemes; Pyramid Schemes; and Click Fraud. Highlighting the rising trend of e-fraud in the country and the associated challenges, the Fidelity Bank boss said: “According to data released by NIBS

 Fidelity Bank Distributes Food Packs To Benue IDPs Fidelity Plc, a prominent financial institution, has distributed more than 1,200 food packs to Internally Displaced Persons (IDPs) in Makurdi, Benue State, as part of its ongoing commitment to alleviating hunger among vulnerable individuals in society. The distribution event, conducted in collaboration with the Hyacinth Alia Foundation and the Benue State Emergency Management Agency (BESEMA), occurred on Thursday, August 10, 2023, at the IDP Camp in the Federal Housing Estate, North Bank, Benue State. Meksley Nwagboh, the Divisional Head of Brand and Communications at Fidelity Bank Plc, highlighted the Fidelity Food Bank as a Corporate Social Responsibility (CSR) initiative designed to extend assistance to vulnerable individuals and alleviate the impact of hunger. Nwagboh expressed the bank's vision of reaching out to less privileged communities in collaboration with partner organizations, particularly acknowledging the partnershi

 NEXIM partners Fidelity Bank, and Sapphital to grow Nigeria’s export sector In a move aimed at enhancing Nigeria's foreign exchange earnings, the Nigerian Export-Import Bank (NEXIM) has unveiled a strategic partnership with Fidelity Bank Plc and Sapphital Learning Ltd, leading financial institutions. This collaboration seeks to elevate the skills and performance of export businesses in Nigeria by leveraging the NEXIM Export Academy (NEXA), an online platform that provides exporters with capacity-building training and access to finance for business expansion. Launched in 2022 with the support of Sapphital, a digital learning institute, the NEXA platform is designed to empower businesses with the necessary resources to conduct successful export operations, ensuring higher levels of quality control and increased competitiveness in the global market. The platform aims to foster the growth of non-oil exports and foreign exchange by connecting all stakeholders along the value chain, pro

 Fidelity Bank announces 2nd edition of Fidelity International Trade and Creative Connect Building on the resounding success of the maiden edition of the Fidelity international trade and Creative Connect (FITCC) in London, UK last November, leading financial institution, Fidelity Bank Plc, has announced plans to host the second edition of the trade expo in Houston, Texas in the United States of America.   Tagged FITCC Houston, the event would hold on Wednesday, 18th, and Thursday, 19th October 2023 at the George R. Brown Convention Center, 1001 Avenida de las Americas, Houston, Texas 77010.   Situating the critical role FITCC plays in the bank’s export trade strategy, the Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nneka Onyeali-Ikpe stated that, “Fidelity Bank is very much invested in supporting export trade and has consistently demonstrated this by the interventions and innovations that we bring to the space. Beyond the instrument of financing, some of our key inter

 Nneka Onyeali-Ikpe Fidelity Bank MD, Gets National Award The Chief Executive Officer of Fidelity Bank PLC, Nneka Onyeali-Ikpe, has been listed amongst the recipients of the 2023 national awards. According to the 2023 national awards list released by the Federal Government last weekend, Onyeali-Ikpe would be conferred with the award of the Officer of the Order of the Niger, OON. The list also includes prominent names such as Emeka Anyaoku, First Lady, Oluremi Tinubu, Co-Founder of Tony Elumelu Foundation, Dr. Awele Elumelu; President of Transcorp Group, and Dr. Owen Omogiafo among others. Also, former Governor of Osun, Bisi Akande; Olusegun Osoba; Mamman Daura, and Central Bank Governor, Godwin Emefiele, among others received Commander of the Order of the Federal Republic. The OON award comes to join a list of recognitions Onyeali-Ikpe has received recently. It would be recalled that she bagged the awards of the Banker of the Year 2022 at the Champion Newspapers’ Awards of the Year 202

 Fidelity Bank CEO Bags Champion Newspapers’ Banker of the Year Award Fidelity Bank Plc's Managing Director/CEO, Mrs. Nneka Onyeali-Ikpe, has added another accolade to her list of achievements by winning the Banker of the Year 2022 award at the Champion Newspapers’ Awards of the Year 2022. The ceremony took place on May 12, 2023, at Eko Hotel and Suites, drawing prominent figures from Nigeria's public and private sectors. Expressing gratitude for the recognition, Mrs. Onyeali-Ikpe dedicated the award to the board, management, and staff of Fidelity Bank PLC, as well as her family. The event, attended by her family, friends, and colleagues, celebrated excellence in various fields. Otunba Olusegun Runsewe, the Chairman of the occasion and Director General of the National Council for Arts and Culture, emphasized the importance of rewarding hard work and integrity, stating that failure to do so would promote mediocrity. He commended the awardees, acknowledging their fitness and prop

 Fidelity Bank emerges Nigeria’s best performing bank share With a 32% year-to-date appreciation in value, Fidelity Bank PLC,shares have emerged as Nigeria’s best performing year -to-date bank share. This is according to a recent article published by Bloomberg. Speaking with the platform’s journalist on the assessment, the Managing Director, MD/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe, shed light on the 35-year-old institution’s business expansion plans especially to other African countries after finalizing the acquisition of Union Bank UK. She said, “The strategy is for us to move footprint outside Nigeria and be able to compete favorably with our peers. In the next three years, we should be able to be in six countries by doing at least two every year.” Fidelity is racing to expand and avoid losing out on fees from facilitating trade and corresponding banking roles to larger rivals. Trade within the continent, which stands at more than $350 billion a year, is expected to grow b

 Union Bank receives N8bn cash for sale of UK subsidiary to Fidelity Bank Union Bank PLC, confirmed it sold its UK subsidiary, Union Bank UK for a cash consideration of N8 billion only. This is according to the information contained in its financial statements for the period ending December 2022. The bank sold the subsidiary to local competitor, Fidelity Bank in May 2022 in a transaction that was initially reported as an undisclosed amount. A cursory view of the transaction details shows Union Bank (group) posted a capital loss on the sale of the asset as the carrying cost (represented by its net assets) of its UK subsidiary on its books was N16.1 billion. However, on the balance sheet of Union Bank UK, it reported a total asset of N50.89 billion and a net asset of N16.1 billion as of the end of May 2022. Loans advances and customer deposits as of that period were also N11.1 billion and N23.8 billion respectively. Despite the sale, Union Bank UK still reported a loss from discontinued

 Fidelity Bank Targets 5 Acquisitions In Africa Fidelity Bank PLC,has said it plans to expand in at least five African countries after finalising the acquisition of the London unit of rival Union Bank of Nigeria Plc.   The 35-year-old institution is negotiating a second purchase, chief executive offficer Nneka Onyeali-Ikpe said, without identifying the target. The lender expects to complete the transaction this year, she said.   “The strategy is for us to move footprint outside Nigeria and be able to compete favorably with our peers,” Onyeali-Ikpe told Bloomberg in a phone interview from Lagos, the country’s commercial hub. “In the next three years, we should be able to be in six countries by doing at least two every year.”   Fidelity  is racing to expand and avoid losing out on fees from facilitating trade and corresponding banking roles to larger rivals.   Trade within the continent, which stands at more than $350 billion a year, is expected to grow by 52 per cent in the next decade