Fidelity Bank restates commitment to growth of real sector

Fidelity Bank Plc says its commitment to aid the diversification of Nigeria’s monolithic economy made it to continue to channel significant human and financial resources to enhance the real sector.

The bank Managing Director, Mr Nnamdi Okonkwo, made the assertion on Wednesday at the bank’s special day at the ongoing Lagos International Trade Fair (LIEF) in Lagos.

Okonkwo was represented by Mrs Chijioke Ugochukwu, the Executive Director, Shared Services and Product, at the fair organised by the Lagos Chamber of Commerce and Industry (LCCI).

According to him, the support is particularly in the manufacturing, food and beverages, and independent power projects sector.

He said that the bank was SME friendly and prides itself in providing well-priced funding to the sector to boost their production capacity and enable them to contribute more to economic growth.

Okonkwo said that the bank partnered with the Central Bank of Nigeria (CBN), Bank of Industry (BoI), Nigeria Export-Import Bank (NEXIM) and Development Bank of Nigeria (DBN) to facilitate funds to SME operators.

“In spite of the harsh business environment, the bank’s success story anchored on improved service quality, innovative products and services designed to meet the varying needs of our numerous customers which is beyond generic financial intermediation,” the bank managing director said.

He said that the bank was committed to the long-term expansion of businesses as it leverage on proven expertise and highly trained professionals to take businesses to the next level of growth.

The bank boss said that the bank through its Automated Teller Machines (ATMs) positioned on the fairground have dispensed millions of naira to visitors.

Okonkwo also said giving free business and financial advisory services to customers and non-customers was to demonstrate the bank’s long-standing commitment to support micro businesses.

Our correspondent reports that the bank rewarded 10 of its loyal customers with cash rewards to improve their standard of living and encourage them to imbibe the savings culture.

Okonkwo said that N110 million and over 200 consolation prizes such as fridges, generators and Television sets would be given to customers over the six month duration of the, “Get Alert in Millions Season 3 Promo”.

In his remarks, Mr Babatunde Ruwase, the President of LCCI, said that Fidelity Bank was the most supportive SME bank in the country.

Ruwase said that the World Bank’s Doing Business 2019 Report showed a marginal drop in ranking from 145 to 146, and underscores the need for more attention to be focussed on the country’s business environment issues.

He urged the bank to do more in addressing issues of high cost of fund, long-term moratorium fund and improved support to Micro, Small and Medium Enterprises.