Fidelity Bank Overview
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 5 year $300million Eurobond in May 2013 which was listed on the Irish Stock Exchange, the bond was fully redeemed in May 2018.

Issued a ₦30billion local currency bond in May 2015.

Issued a $400million Eurobond in Oct 2017, also listed on the Irish Stock Exchange.

Strategic business focus is on Niche Corporate Banking, SMEs, Retail and Electronic Banking.

Currently has 250 business offices, 833 ATMs and 10,951 POSes.

Q1 2020 Performance Highlights
  • Total Earnings up by 5.7% to ₦51.2bn
  • PBT up by 1.4% to ₦6.6bn
  • Deposits up by 10.4% to ₦1,352.3bn
  • Net Loans up by 3.4% to ₦1,165.8bn
  • Cost to income Ratio of 71.3%
  • Cost of risk of 0.7%
  • NPL Ratio of 4.8%
  • Liquidity Ratio of 31.6%
  • Capital Adequacy Ratio of 17.7%
Upcoming Events
  • H1 2020 Call – 26 Aug 2020
Company Background
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.

Share Holding Structure
Share holding Analysis 1
The range of share holding as at December 31, 2019 is as follows:

Share holding Analysis 2
Ownership Structure as at December 31, 2019

  • 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
Insider Trading Policy
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).

Complaints Mgt Policy
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 for more clarification and further details.

Thank you.

Fidelity Bank Plc.

Dividend History
Fidelity Bank has consistently paid dividends in the last 13 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
2019 20K
2018 11K
2017 11K
2016 14K
2015 16K
2014 18K
2013 14K
2012 21K
2011 14K
2010 14K
Dec 2009 2.5K
Jun 2009 5K
2008 30K
2007 16K
2006 11K

Results Release Calendar

Financial Results Release Dates
H1 2020 Audited Results 24 Aug 2020
9M 2020 Unaudited Results 20 Oct 2020
2020 FY Audited Results 22 Mar 2021

Fitch Rating

2015 / 2016 2016 / 2017 2017 / 2018 2018 / 2019 2019 / 2020
Foreign Currency
Long Term IDR B B- B- B- B-
Short Term IDR B B B B B
Outlooks Stable Stable Stable Stable Stable
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

2015 / 2016 2016 / 2017 2017 / 2018 2018 / 2019 2019 / 2020
Long Term IDR A- A- A- A- A-
Short Term IDR BA2- A2- A2- A2- A2-
Outlooks Stable Stable Stable Stable Stable
Investor FAQ

All inquiries should be referred to the Registrar, First Registrars & Investor Services Limited at the following address:

The Registrar
First Registrars & Investor Services 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.
Fax: 234-1-2700542.
Contact Persons: Ezinwa Unuigboje (Company Secretary)
Enquiries may also be made from the Head of Customer Service at all Fidelity bank Plc business offices.

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.
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

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.
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.

The financial statements are prepared under the historical cost convention.
First Registrars & Investor Services Limited of Plot 2, Abebe Village Road, Iganmu, P.M. B. 12692, Marina, Lagos State, Nigeria.
Fidelity Bank’s shares are denominated in 50k per share. The Bank has 28,962,585,692 ordinary shares outstanding, as of today.
Fidelity Bank shares are listed on the Nigerian Stock Exchange since May 17, 2005.
Yes, we have Eurobonds listed and traded on the Irish Stock Exchange (ISE). Also, the bank has local bonds listed and traded on the Nigerian Stock Exchange (NSE) and FMDQ OTC Securities Exchange.
You can buy or sell Fidelity Bank shares through any of the stockbroking firms operating in Nigeria. One of such firms is:
Fidelity Securities Limited
Plot 688 Ahmodu Tijani Close,
Off Sanusi Fafunwa Street,
Victoria Island, Lagos
Tel: +234 1 462 7208
E-mail –
Please contact:
First Registrars & Investor Services Limited,
No. 2, Abebe Village Road,
Iganmu, Lagos
PMB 12692, Marina Lagos.
Tel: +234 1 279 9880
E-mail –

The Company Secretary,
Fidelity Bank Plc
Ezinwa Unuigboje
Tel: +234 1 271 6624

We hold our AGM after the release of our audited annual financial statements. For information on our financial statements release dates, please click “Results Release Calendar” menu.
Contact IR Team

Kenneth Ugo
Member, Investor Relations
+234 708 488 1691

Samuel Obioha
Head, Investor Relations
+234 (1) 448 0853

Gbolahan Joshua
Chief Operations & Information Officer
+234 (1) 277 0506