Fidelity Bank’s Performance Praised by Shareholders in FY 2024
So, like, shareholders of Fidelity Bank, a tier one lender, were super impressed with the bank’s board and management for doing an awesome job in FY 2024. The 37th Annual General Meeting (AGM) was held virtually on Tuesday, April 29, 2025. Chief Boniface Okezie from The Progressive Shareholders Association was all about praising the bank, saying it was a ‘superlative performance’ and that they were grateful to the management and staff for giving them a bank to be proud of. He also mentioned how the bank is one of the top 3 dividend-paying financial institutions in Nigeria.
Sir Tunji Okelana, the Chairman of the Zonal Shareholders Committee, recognized the bank’s amazing leadership that helped it grow to new heights. He even said that the current MD’s achievements were way beyond anything the previous MDs had done. He also gave a shoutout to the staff, calling them assets and saying they keep their word – real loyal folks over there.
Mr. Mustafa Chike-Obi, the Chairman of the Board of Directors, was also feeling proud of the bank’s exceptional resilience despite global economic challenges. He mentioned breaking records in growth, especially in Profit Before Tax (PBT). He was all about how the stakeholders were happy with the first stage of the capital-raise exercise, with a crazy oversubscription rate of 237.9% in the Public Offer and 137.7% in the Rights Issue.
Dr. Nneka Onyeali-Ikpe, the Managing Director/Chief Executive Officer, shared the bank’s strategic plans for 2025 to build on the success of FY 2024. She talked about completing the next phase of the capital raise, strengthening the asset base, boosting operational efficiency and digital innovation, and looking into expanding into some African markets.
The bank’s 2024 annual report, available on its website and shared with shareholders, showed some pretty impressive numbers. There was a 210% growth in Profit Before Tax to N385.2 billion, Gross Earnings went up by 87.7% to N1,043.4bn, and there was a 47.9% growth in deposits and Advances.
At the AGM, shareholders passed several resolutions, including declaring a final dividend of N1.25 kobo, electing new directors, and re-electing existing ones. Fidelity Bank Plc is known as one of the best banks in Nigeria, serving over 9.1 million customers through various channels.
The bank has also won multiple local and international awards, showing off its excellence in digital transformation, mobile banking, investment banking, and SME banking. They’re basically killing it in the awards game, making everyone proud.
So, yeah, Fidelity Bank is really doing the darn thing, and shareholders are loving it. Can’t wait to see what they do next!
