Fidelity Bank repositions to leverage emerging opportunities

Fidelity Bank Plc has assured stakeholders that the bank was well repositioned to leverage opportunities that would emerge from the new administration.

The Group Managing Director of the bank, Nnamdi Okonkwo, while addressing stock brokers during the closing gong of Titanium sponsors of CEO Dinner in Lagos at the weekend, explained that the bank has structured and upgraded its processes in order to continue to deliver value to its shareholders.

0konkwo, who noted that the bank has consistently paid dividend to shareholders over the years, added that the dividend paid in the last financial year, amid harsh economic environment attested to the bank’s readiness to continually improve in its operations.

He also explained that the successful conclusion of the bank’s N30 billion local bond issued this year is another evident of the bank’s commitment to continue to enhance profitability.

He pointed out that the bank put various measures in place before unveiling its new identity, which includes strategic focus on balance sheet optimisation, which, according to him enabled the bank to ‘gain more from less’.
“In may, we came to the floor and celebrated 10years of listing and it has
helped our funding strategies. We have successfully issued 300 million Eurobond five year instrument and we have consistently paid dividend to shareholders.”

The Bank chief urged investors to stake their fund in the bank in order to enjoy good capital appreciation from the bank.
“Investor should make more good decision by investing in fidelity bank. We have upgraded our IT processes and unveiled a new logo. We look forward to more collaboration.” He added.

Meanwhile, the Group Managing Director Designated, FBN Holdings Plc, Mr U K Eke has expressed optimism on stock market rebound, adding that the full takeoff of new economic management team would spur activities in the market.

“This is an interesting times for all, though global indices remained low but Nigerian economy remains resilience with sound bank fundamentals. The government is taking shape and soon they will start supporting CBN on its fiscal policies.
“We are optimistic of the future. We have concluded our merchant banking plans and by the end of this year, we will commence operations. We have confidence in the market and this is a good time for investors to buy first bank shares.” He added