A commercial bank with International Authorisation established in 1987 and licensed by the Central Bank of Nigeria (CBN).
The Bank currently has over 400,000 diverse shareholders.
Listed on the Nigerian Stock Exchange (NSE) in May 2005 and has consistently paid dividends annually since being listed.
Issued a $300million Eurobond in May 2013 which is listed on the Irish Stock Exchange (IRS).
Issued a ₦30billion local currency bond in May 2015.
Strategic business focus is on Niche Corporate Banking, SMEs, Retail and Electronic Banking.
Currently has 239 business offices, 751 ATMs and 3,861 POSes.
- Gross Earnings down by 3.0% to ₦110.3bn
- Operating Income up by 8.6% to ₦67.3bn
- PBT down by 28.7% to ₦9.8bn
- Cost of risk of 1.5%
- NPL Ratio of 4.5%
- Liquidity Ratio of 34.4%
- Basel II Capital Adequacy Ratio of 16.8%
- FYE 2016 Conference Call: Apr 7, 2017
Fidelity Bank was incorporated in 1987 as a private limited company with a Merchant Banking License, with the primary objective of participating and contributing to the growth of the Nigerian economy through the provision of quality financial services. As part of its growth strategy, Fidelity Bank converted to a commercial bank in 1999, became public limited company in August 1999 and secured a Universal Banking License in February 2001. In line with the Central Bank of Nigeria’s (CBN) modified universal banking regime, Fidelity Bank was granted an International Banking Licence in 2011.
A well-experienced and highly-regarded management team has successfully grown the Bank based on the principles of passion, excellence and sound risk-management framework. Fidelity Bank’s long term aspiration is to become one of the most profitable tier-I banks in Nigeria and plans to achieve this objective by exploring both organic and inorganic growth opportunities.
Fidelity Bank has grown from a marginal player in 1987, into a stable and respectable banking institution. Notably in 2005, Fidelity Bank acquired FSB International Bank Plc (“FSB”) and Manny Bank Plc (“Manny”) to create one of the top 10 Nigerian banks.
Fidelity Bank currently has an extensive branch network with presence across all the major cities in Nigeria and in all the state capitals. The Bank remains financially sound with a robust balance sheet and sound Capital Ratios.
Fidelity Bank is diversely owned. The current authorized share capital of the Bank is NGN16,000,000,000.00 (sixteen billion Naira), divided into 32,000,000,000 (thirty two billion) ordinary shares with a nominal value of 50 kobo each. Its paid-up share capital currently stands at NGN14,481,292,846.
The Bank has a diverse shareholder base and currently has over 400,000 shareholders comprising Nigerian citizens and corporations as well as foreign investors. The bank continues to receive significant support for its policy objectives from its shareholders, who also support its capital raising and business development efforts.
Shareholding Analysis 1
The range of shareholding as at 31 December 2015 is as follows:
Shareholding Analysis 2
Ownership Structure as at 31 December, 2015
- Board & Management = The current Board Members and the Executive Management Team of Fidelity Bank Plc
- Foreign Institutional Investors = Institutional Investors with foreign addresses holding more than 1million shares
- Local Fund Managers = Fund Managers with registered offices in Nigeria
- Local Institutional Investors = Shareholders with local addresses holding more than 100 million shares
- Others = Other shareholders apart from the four groups listed above
The Bank has a formal Insider Trading Policy that prohibits all “Insiders” and their “Connected Persons” (as defined in the Policy) from dealing in the Company’s securities at certain times.
The provisions of the Policy are based on terms no less exacting than the standards defined in the Listing Rules of the Nigerian Stock Exchange. The objectives of the Policy include the following:
- Promote compliance with the provisions of the Investments and Securities Act (ISA) 2007, the Securities and Exchange Commission Code of Corporate Governance and the Listing Rules of the Nigerian Stock Exchange.
- Ensure that all persons to whom the policy applies (affected persons), who possess material non-public information do not engage in insider trading or tipping.
The Policy has been communicated to all persons to whom it is applicable including Employees, Directors and members of the Shareholders Audit Committee. The Company Secretary periodically notifies affected persons of when trading in the Bank’s securities is either permitted (Open Periods) or prohibited (Blackout periods).
In compliance with the recently released Securities and Exchange Commission (SEC) rules relating to the Complaints Management Framework of the Nigerian Capital Market, please be notified that Fidelity Bank Plc. has adopted a Complaints Management Policy. The Bank shall receive and entertain all Shareholders’ complaints arising out of issues covered under the Investments and Securities Act (ISA), 2007, the Rules and Regulations made pursuant to the ISA, the rules and regulations of Securities Exchanges and guidelines of recognised trade associations as directed.
Kindly refer to http://sec.gov.ng/rules-relating-to-complaints-management-framework.html for more clarification and further details.
Fidelity Bank Plc.
Fidelity Bank has consistently paid dividends in the last 10 years, even in the most turbulent time in the Nigerian banking industry. In the last 5 years, dividends have moved within the band of + or – 20.0% of 17.5 Kobo per share.
The Bank’s composite risk rating is sound and does not preclude it from paying more than 30% of its net profit.
Currently, Fidelity Bank’s guidance for dividend payment is between 30 % and 50% of annual net profit.
|Financial Year||Amount Per Share|
|Financial Results||Release Dates|
|FYE 2016 Financial Results||28 Mar 2017|
|2012 / 2013||2013 / 2014||2014 / 2015||2015 / 2016||2016 / 2017|
|Long Term IDR||B||B||B||B||B-|
|Short Term IDR||B||B||B||B||B-|
|Long Term IDR||BBB+ (nga)||BBB+ (nga)||BBB+ (nga)||BBB+ (nga)||BBB+ (nga)|
|Short Term IDR||F2 (nga)||F2 (nga)||F2 (nga)||F2 (nga)||F2 (nga)|
Global Credit Rating
|2012 / 2013||2013 / 2014||2014 / 2015||2015 / 2016||2016 / 2017|
|Long Term IDR||A-||A-||A-||A-||A-|
|Short Term IDR||A1-||A1-||A1-||A2-||A2-|
Who do I contact if I have any enquiry relating to my shareholding, for example, transfer of shares, change of name or address, or lost share certificates or dividend warrants?
All inquiries should be referred to the Registrar, First Registrars Nigeria Limited at the following address:
First Registrars Nigeria Limited
Plot 2, Abebe Village Road, Iganmu
P. M. B. 12692, Marina
Lagos State, Nigeria.
The Registrars can also be contacted via telephone, fax, email or their website as detailed below:
Tel: 234-1-279 9880, 234-1-270 1078 to 79
Fax: 234-1-270 1071 to 72
Enquiries may also be referred to the Company Secretary of Fidelity Bank Plc at the Bank’s Head Office at:
No. 2, Kofo Abayomi Street Victoria Island
P. O. Box 72439, Victoria Island Lagos State
Tel: 234-1-2700542, 234-1-2700528, 234-1-2716624.
Contact Persons: Ezinwa Unuigboje (Company Secretary)
Enquiries may also be made from the Head of Customer Service at all Fidelity bank Plc business offices.
What happened to Manny Bank Plc and FSB International Bank Plc shares following the merger of the three Banks?
After the merger of the three Banks, the share capital of FSB International and Manny Bank were cancelled and both banks dissolved without being wound up. In addition, the existing shares of FSB and Manny Bank were exchanged for Fidelity Bank Plc shares in the ratio proposed in the Scheme of Merger between the three Banks.
What was the share exchange ratio for the merger?
1. 15 Ordinary Shares of FSB International Bank Plc were exchanged for 8 Ordinary shares of Fidelity Bank Plc
2. 9 Ordinary Shares of Manny Bank Plc were exchanged for 2 Ordinary Shares of Fidelity Bank Plc. REPORTING SYSTEM
When does Fidelity Bank normally announce its financial results?
Fidelity’s financial year end was June 30. However, following a recent guideline of the Central bank of Nigeria (CBN), all Nigerian Banks are required to have a common financial year end of December 31 with effect from December 2009. Consequently, Fidelity Bank has adjusted its financial year end to December 31.
How is the Financial results announced?
The results are released to the public by: i. Distribution on the Floor of the Nigerian Stock Exchange ii. Publication in at least two national dailies iii.Circulation to all registered shareholders iv. Publication on the bank’s website
As a matter of internal policy, the bank announces its financial results within 24 hours of approval of the audited accounts by the Central Bank of Nigeria.
What is the basis of preparation of Fidelity Bank’s financial statement?
The financial statements are prepared under the historical cost convention.
Who are Fidelity Bank’s Independent Auditors?
Fidelity has two Joint Independent Auditors, Messrs Ernst & Young and Messrs Parnell Kerr Forster.
Who is the Registrar of Fidelity Bank Plc?
First Registrars Nigeria Limited of Plot 2, Abebe Village Road, Iganmu, P.M. B. 12692, Marina, Lagos State, Nigeria.
Tel: +234 (1) 448 0853
Head, Investor Relations
Tel: +234 (1) 448 0853
Chief Operations & Information Officer
Tel: +234 (1) 277 0506