ONLINE BANKING
  • Online Banking
    • Personal
    • Corporate

    Login
    • Register
    • |
    • Open New Account

    Login
    • Register
    • |
    • Open New Account

OPEN AN ACCOUNT
  • Home
  • About Us
  • Investor Relations
  • Agric & Export
    • Fidelity EMP
    • Gallery
  • CSR
    • Health & Social Welfare
    • Education
    • Youth Empowerment
    • Environment
    • Sustainability
  • Media
    • Media Centre
    • Gallery
    • Magazine Publication
    • Blog
  • Contact
    • True Serve
    • Branch/ATM Locator
    • Frequently Asked Questions
    • Careers
    • Shareholder Enquiry
    • Information Security
    • Whistle Blowing
Menu
  • Home
  • About Us
  • Investor Relations
  • Agric & Export
    • Fidelity EMP
    • Gallery
  • CSR
    • Health & Social Welfare
    • Education
    • Youth Empowerment
    • Environment
    • Sustainability
  • Media
    • Media Centre
    • Gallery
    • Magazine Publication
    • Blog
  • Contact
    • True Serve
    • Branch/ATM Locator
    • Frequently Asked Questions
    • Careers
    • Shareholder Enquiry
    • Information Security
    • Whistle Blowing
Login
Search
Close
  • Personal Banking

    Personal Banking

    • Savings Account
    • Current Account
    • Diaspora Banking
    • Investment Services
    • Personal Loans
    • Money Transfer

    Self Services

    • Find a Branch or ATM
    • Loan Calculator
    • Open an Account
    • True Serve
    • Chat with Ivy
  • Digital Banking

    Digital Banking

    • Instant Banking (*770#)
    • Fidelity Cards
    • Fidelity Collections
    • Online Banking
    • Online Banking Mobile App

    Self Services

    • Find a Branch or ATM
    • Loan Calculator
    • Open an Account
    • True Serve
    • Chat with Ivy
  • SME Banking

    SME Banking

    • Low Cost Current Accounts
    • Fidelity SME Academy
    • SME Loans & Advances
    • Fidelity SME Forum
    • Open Account Online

    Self Services

    • Find a Branch or ATM
    • Loan Calculator
    • Open an Account
    • True Serve
    • Chat with Ivy
  • Corporate Banking

    Corporate Banking

    • Exchange Rate

    Self Services

    • Find a Branch or ATM
    • Loan Calculator
    • Open an Account
    • True Serve
    • Chat with Ivy
    Fidelity Bank Corporate Banking
  • Private Banking

    Private Banking

    • About Private Banking
    • Services
    • Testimonials
    • Contact Private Banking

    Self Services

    • Find a Branch or ATM
    • Loan Calculator
    • Open an Account
    • True Serve
    • Chat with Ivy
  • Personal
    • Savings Account
    • Current Account
    • Diaspora Banking
    • Investment Services
    • Personal Loans
    • Money Transfer
    • Self Services
      • Branch Locator
      • Loan Calculator
  • Digital
    • Online Banking
    • Online Banking App
    • Instant Banking *770#
    • Fidelity Card
    • PayGate
    • Fidelity POS
  • SME
    • Current Account
    • SME Loans
    • Fidelity SME Academy
    • Loan Calculator
  • Corporate
    • Exchange Rates
  • Private
    • About Us
    • Services
    • Testimonials
    • Contact Private Banking
  • Personal
    • Savings Account
    • Current Account
    • Diaspora Banking
    • Investment Services
    • Personal Loans
    • Money Transfer
    • Self Services
      • Branch Locator
      • Loan Calculator
  • Digital
    • Online Banking
    • Online Banking App
    • Instant Banking *770#
    • Fidelity Card
    • PayGate
    • Fidelity POS
  • SME
    • Current Account
    • SME Loans
    • Fidelity SME Academy
    • Loan Calculator
  • Corporate
    • Exchange Rates
  • Private
    • About Us
    • Services
    • Testimonials
    • Contact Private Banking
  • Individual Current Account
  • Premium Current Account
  • Bridge Account
  • Small Business Account (Individual)
  • Vintage Account
  • Individual Current Account
  • Premium Current Account
  • Bridge Account
  • Small Business Account (Individual)
  • Vintage Account

< Back to Blog

  • October 29, 2018

Fidelity Bank CEO Assures Investors On Better Returns In 2018

Fidelity Bank CEO, Mr. Nnamdi Okonkwo has assured the investors and analysts community that the top Nigerian lender will deliver better returns in the 2018 financial year.

Speaking in Lagos, Friday during the Half Year Investors and Analyst Conference Call, Okonkwo said the bank will maintain the disciplined approach to the execution of the medium term strategic initiatives, that have sustained the bank’s strong performance in recent years. “From what we have seen so far and going by our half year results, we are staying with our guidance for the full year” said Okonkwo.

The engagement with investors and analysts, came on the heels of the recently released H1 2018 results which saw the Bank record double-digit growth in key revenue lines and achieving significant traction in its chosen business segments.

Gross profits rose by 27.3 to close at ₦13bn whilst Profit After Tax (PAT) grew by 31 percent to close at ₦11.8 billion from ₦9.03 billion recorded in 2017, a performance that Okonkwo attributed to the “disciplined approach in managing the balance sheet growth of the bank, it’s strategic cost containment initiatives; focused attention to chosen business segments and determined execution of its retail and digital banking strategy”

The bank’s much awaited HI 2018 results have been positively received by the market. Renaissance Capital said “on a sequential basis, PBT was up an impressive 61 percent QoQ, largely driven by much stronger income during the quarter. We like the decent 8 percent QoQ (+3 percent YtD) growth in the bank’s loan book, which was largely driven by the manufacturing, general commerce and transport segments. We find this performance impressive in light of the tepid growth in the sector.”

“The bank’s Return On Equity (RoE) of 12.2 percent is the highest it has been since 2008, driven by a combination of higher Return On Asset (RoA) and leverage – leverage of 7.6x in 1H18 compares with 6.9x in FY17, while RoA of 1.6 percent, compares with 1.4 percent, within the same periods. Contributing to this RoE uplift, is of course the IFRS 9 impact of a lower equity base” Rencap further stated.

Also, analysts at InvestmentOne pointed out that “the Bank’s efforts at driving its digital banking strategy is paying off, having posted a 30.1 percent year-on-year boost in non-interest income to N14.3 billion in H1 2018” According to them, the growth was driven mainly by a 60.9 percent year-on-year increase in net fees and commission.

“The Bank’s digital banking strategy has shown that about 40 percent of its customers have now enrolled on its digital platforms in H1 2018, up 10 percent year-on-year, 80 percent of its total transactions are now done on these platforms. On operations and contact channels, the Bank at the end of Q2 2018 has 4,513 Point of Sale (PoS) terminals, 2 million ATM Cards and 778 Automated Teller Machines (ATMs) and 1.6 million mobile customers” noted the analyst report.

Search

For Media Enquiries

Email: [email protected]
Phone: +234 1 270 2015

Share

Other Stories

Banking

Fidelity Bank Appoints Pamela Shodipo as Executive Director, South Directorate

February 10, 2023
Banking

Disclaimer on Fidelity Investment WhatsApp Group

February 7, 2023
Banker of the Year Award

Nneka Onyeali-Ikpe Bags Banker of the Year Award

February 2, 2023
PrevPreviousFidelity Bank unveils new savings campaign
NextCBN Credit: Fidelity Bank Mulls Better Financing for Real SectorNext

Stay Close, We Are Always Here

Get In Touch

Banking

  • Personal Banking
  • SME Banking
  • Digital Banking
  • Corporate Banking
  • Private Banking
  • Diaspora Banking
  • Agric & Export Banking

About Fidelity

  • About Us
  • Careers
  • Investor Relations
  • CSR

Help & Support

  • True Serve
  • FAQ
  • Find a Branch or ATM
  • Whistle Blowing
  • Information Security

Quick Links

  • Online Banking
  • Loan Calculator
  • Media
  • Suspected Foreign Exchange Racketeers

Digital Channels

RC 103022. Copyright 2023 Fidelity Bank Plc. An authorised financial services and credit provider. Privacy Policy | Communication Policy | Terms and Conditions | Sitemap

This website uses cookies to provide you with the best browsing experience.

Find out more or adjust your settings.

  • Personal
  • Corporate

Login
  • Register
  • |
  • Open New Account

Login
  • Register
  • |
  • Open New Account

Personal
Corporate
Powered by Fidelity Bank Plc  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Click Here to read more about our privacy policy.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

3rd Party Cookies

This website uses Google Analytics and other scripts to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!

Data Privacy Policy

More information about our Data Privacy Policy