Fidelity Bank soars at 2017 BusinessDay Banking Awards

Top Nigerian lender, Fidelity Bank Plc has clinched two awards at the recently concluded 2017 BusinessDay Banking Awards. The Bank emerged winner in two categories, beating other nominees and carting away the prize for the ‘Most Improved in Corporate/Investment Banking’ and ‘Best Bank in Mobile Money Services’.

The awards, which was conferred on the Bank during an elaborate ceremony in Lagos at the weekend, is in utmost recognition of the Bank’s enduring commitment to building a vibrant and sustainable economy through the delivery of innovative financial services to its teeming customers.

In this year’s edition, the Award Committee, which was made up of eminent industry analysts, and BusinessDay Research and Intelligence Unit (BRIU), meticulously examined the audited annual reports and investors’ presentations of Banks to come up with the nominees and winners. Receiving the award on behalf of the Bank, Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nnamdi Okonkwo pointed out that the awards were a lucid indication that the initiatives being implemented by the lender particularly as it relates to enhancing service delivery are yielding the desired result.

Okonkwo who was represented by the Bank’s Executive Director, Lagos & South-West, Nneka Onyeali-Ikpe promised that the lender would not relent in its efforts to promote the financial inclusion mandate of the Central Bank of Nigeria (CBN). According to Ikpe, “As a Bank, our mission is to make financial services easy and accessible to our customers. Digital technologies for us hold an enormous opportunity for greater financial inclusion. “We are proud of this award and recognition of effort, and this will only give us the drive as a bank to continue providing the best-in-class services”, She concluded.

Speaking in the same vein, Divisional Head, Energy Group, Abolore Solebo said the awards underscore the Bank’s commitment to the provision of top-rate services. “As a Bank, we recognise that the industry has evolved in recent times. To remain relevant in a highly dynamic industry, we need to be conversant with latest industry trends and developments to enable us develop services that are tailored to the customers unique needs and lifestyle”, Solebo added.

Fidelity is a full-fledged commercial bank operating in Nigeria with over 3.8 million customers who are serviced across its 240 offices and various digital banking channels. The Bank is focused on select niche corporate banking sectors, Small and Medium Enterprises (SMEs) and is rapidly implementing a digital based retail banking strategy which has resulted in the following over the last three and half years; a 93 percent growth in savings deposits, 50 percent customer enrollment on debit cards and 30 percent of its customers now using its flagship mobile/internet banking products.

Fidelity Bank recently released its Audited H1 2017 results which showed a remarkable improvement on all indices with Gross Earnings increasing by 22 percent to N86 billion, Expenses declining by 2 percent to N31 billion and Profit Before Tax (PBT)  increasing by 67 percent to N10 billion. All these are the result of disciplined execution of the Bank’s mid-term strategy.

Earlier in his opening speech, Frank Aigbogun, publisher/Chief Executive Officer, BusinessDay thanked all the dignitaries for honouring the invitation and commended them for their relentless efforts aimed at quality service delivery in the industry. “Your successful efforts in striving for better product and service delivery in various segments of banking is indeed laudable and worthy of commendation”, Aigbogun noted.