Search
Close this search box.

Fidelity Bank Excites Stock Market With Smooth Transition And Sustained Financial Performance

Friday December 04, 2020: The stock market was in excitement on Wednesday with the smooth transition at Fidelity Bank Plc, when MD/CEO, Mr. Nnamdi Okonkwo gave account of his 7-year stewardship and formerly introduced his successor, Mrs. Nneka Onyeali-Ikpe to stockbrokers.

Speaking during the closing gong ceremony, held virtually, to formally close trading activities on the stock market, Mr. Okonkwo said he delivered on the promise, upon assuming office on January 1, 2014, to foster a robust engagement with the market, grow the bank and improve on key performance indices.

“I am happy to state that we have been able to grow our Return on Equity (ROE) which averaged at 5 percent in 2013 to 13.3 percent in 2019” he stated.”

He attributed the successful capital raising exercise of 2015 and 2017, when the bank raised N30 billion local bond and 400million dollars Eurobond, respectively to the result of the deepening of investor engagements, through holding quarterly earnings calls and non-deal roadshows across different geographies.

“We are currently in the process of issuing a N74 billion series 1 Bonds under our N100 million Bond issuance programme” he revealed.

The Fidelity Bank MD/CEO who will be retiring at the end of the year, after the completion of his contract tenure, said the bank has enjoyed a very stable leadership since inception and was very pleased with the crop of leaders he is leaving behind.

“We recently appointed 5 Executive Directors from within and the incoming MD/CEO, Mrs. Nneka Onyeali-Ikpe has been an integral part of management since 2015. She is part of the success story and we are convinced that the performance of the bank, under her leadership, will be even better” he enthused.

In her remarks, the MD/CEO Designate, Mrs. Onyeali-Ikpe, whose tenure begins by January 1, 2021, assured that the corporate aspirations of the bank will remain the same under her leadership and thanked the outgoing CEO for laying a solid foundation for her and the new team, to take the bank to greater heights.

“We will continue to deliver superior returns and to do this, we will rely on the active support of the market and all stakeholders” she stated.

Mr. Olumide Bolumole, Head Listing, Nigerian Stock Exchange (NSE) and the Doyen of the Market, Mr. Rasheed Yusuf commended the bank for the sustained financial performance and successful transition.

“It’s cheering news to us in the stockbroking community and the market that the new MD was appointed from within. Fidelity is a well-known brand with high expectations from us. You have been meeting our expectations, but we want more. We are eagerly looking forward to when you will become a Tier 1 Bank. Please be assured that the market will give you all the required support” said the Doyen.

Search

For Media Enquiries

Share

Other Stories

We take your privacy seriously and only process your personal information to make your banking experience better. In accordance with NDPR (2019) and the NDPA (2023), continuing to use this platform indicates your consent to the processing of your personal data by Fidelity Bank Plc, its subsidiaries and third-party processors as detailed in our Privacy Policy.

Close Popup
Privacy Settings saved!
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.


Cloudflare
This cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
  • __cf_bm

Elementor
The website's WordPress theme uses this cookie. It allows the website owner to implement or change the website's content in real-time.
  • elementor

Reject All
Save
Accept All
Open Privacy settings