Nigeria receives $21 bln through diaspora remittances in 2019

By Oludare Mayowa Nigeria received a total of $21 billion in Diaspora remittances in 2019, making the country the seventh-largest recipient of remittances globally, according to the World Bank. Speaking at the Fidelity Bank Plc virtual forum of foreign exchange policy on Saturday, the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, said the... Read More

Fidelity Bank Ghana merges branches, relocates Tema branch

Fidelity Bank Ghana merged its Accra branch and relocated its main Madina and Tema Community 25 Branches in a bid to enhance customer experience and convenience for its cherished customers. According to the bank, the Accra High Street and Accra Central branches were merged into a single branch located inside the City Car Park... Read More

Nigeria’s Fidelity Bank announces resumption of new first female Chief executive

A new chief executive officer will officially assume the leadership of Fidelity Bank Plc on Monday as Nnamdi Okonkwo formerly stepped down at the end of last year for Nneka Onyeali-Ikpe to take full charge of the lender by January 1, 2021. Onyeali-Ikpe, who becomes the first female chief executive to assumed leadership of... Read More

Nigeria’s equity market rallies 3.9% with gains in Dangote Cement, Fidelity

By Samuel Bankole Nigeria’s equity market closed on a positive note on Monday with the All-Share Index (ASI) up almost four percent, driven by gains in cement and banking sector stocks. The market main index rose 3.96 percent to close at 32,243.05 points compared with 31,016.17 points it closed on Friday. Also, the market... Read More

Nigeria’s Fidelity Bank grows 9-month profit by 3.6%, deposits 22%

Fidelity Bank posted an impressive financial result at the end of September 2020 with Profit Before Tax (PBT) rose by 3.6 percent to N21.3 billion and Profit After Tax (PAT) rose by seven percent to N20.4 billion. The lender gross earnings fell marginally by 3.7 percent, to N155 billion in the period from N161.1... Read More

Fidelity Bank plans N50 bln bond issuance in Q4 to pay off debt

Fidelity Bank Plc on Tuesday said it plans to raise about N50 billion through bonds by the fourth quarter of this year as part of measures to part of existing debt. The bank Chief Operations and Information Officer, Gbolahan Joshua, who disclosed this during investors conference call said the proceed of the bond issuance... Read More

Fidelity Bank H1 performance reflects lender’s business model ~CEO

Nigeria’s Fidelity Bank Plc first half of 2020 financial performance was a reflection of the resilience of the bank’s business model, the lender chief executive, Nnamdi Okonkwo said on Sunday. “Due to the global and domestic headwinds witnessed in H1 2020, we proactively increased our cost of risk as the impact of the pandemic... Read More

Fidelity Bank grows deposit portfolio by 14.75% in H1 2020

Nigeria’s Fidelity Bank said it has grown its deposit portfolio by 14.75 percent in the first half of 2020 to N1.40 trillion compared with N1.27 trillion in the corresponding period of last year. The lender in a regulatory filing said its loans and advances grew by 11.02 percent to N1.41 trillion against N2.27 trillion... Read More