Shareholders of tier one lender, Fidelity Bank, have given a big thumbs up to the board and management for really knocking it out of the park in FY 2024. The bank’s 37th Annual General Meeting was recently held in Lagos where the Executive Director/Chief Operations and Information Officer, Mr. Stanley Amuchie; Managing Director/Chief Executive Officer, Dr. Nneka Onyeali-Ikpe; Chairman, Mr. Mustafa Chike-Obi; and Company Secretary, Mrs. Ezinwa Unuigboje; (all of Fidelity Bank Plc) were in attendance.
Chief Boniface Okezie, the National Chairman of The Progressive Shareholders Association, was full of praise for the bank at the virtual AGM on Tuesday, April 29, 2025. He commended the bank for their stellar performance, saying, “This is a superlative performance, and we the shareholders are grateful to management and staff for giving us a bank to be proud of. It is also important to note that the bank has earned its spot as one of the top 3 dividend-paying financial institutions in Nigeria.”
Sir Tunji Okelana, the Chairman of the Zonal Shareholders Committee, also chimed in with accolades for the bank’s exceptional leadership. He noted the unprecedented growth the bank has experienced under the current MD’s guidance, stating, “The achievements of the current MD have surpassed that of everyone who held that office before her. In addition, staff working with her are assets. They are truly ‘Fidelity, they keep their word’. Without any doubt, I am very happy with the bank”.
Mr. Mustafa Chike-Obi, the Chairman of the Board of Directors at Fidelity Bank Plc, highlighted the bank’s resilience in the face of global economic challenges. He mentioned the exceptional growth across all performance indicators, especially the record-breaking Profit Before Tax (PBT). The success of the first stage of the capital-raise exercise was also celebrated, with the oversubscription in the Public Offer and Rights Issue being a testament to the bank’s strength and the public’s confidence in them.
Dr. Nneka Onyeali-Ikpe, the Managing Director/Chief Executive Officer, shared the bank’s strategic outlook for the future, focusing on further strengthening their asset base, operational efficiency, and digital innovation. The plan includes exploring strategic regional expansion into select African markets in the coming year.
The bank’s 2024 annual report, available on their website and distributed to shareholders, revealed impressive growth in various areas. Profit Before Tax saw a 210% increase to N385.2 billion, Gross Earnings went up by 87.7% to N1,043.4bn, and deposits and advances also experienced significant growth.
Multiple resolutions were passed at the AGM, including the declaration of a final dividend, the election of new directors, and the re-election of existing ones. Fidelity Bank Plc, known for its excellence in digital transformation and customer service, has received numerous awards and accolades for its innovative banking services.
All in all, it seems like Fidelity Bank is on a winning streak, and shareholders are definitely pleased with the direction the bank is heading in. With a strong leadership team and a commitment to growth and innovation, the future looks bright for this top-tier financial institution.
