Fidelity Bank Plc AKA Fidelity Bank is among one of the biggest commercial banks in Nigeria. They have been also approved as an international authorized commercial bank by the Central Bank of Nigeria.
Fidelity Bank moved from being just a normal financial service provider in 1987 into a more reputable, stable financial institution. Fidelity bank became one of the top ten banks in Nigeria in 2005 after they acquired Manny Bank Plc (“Manny”) and FSB International Bank Plc (“FSB”). They also moved up the ladder in 2011 to be recognized as the 7th most capitalized bank in Nigeria, while in Africa they were ranked as 25th most capitalized bank. The recent digital and retail banking drive in 2017, has also made Fidelity bank be ranked as the 4th best bank in Nigeria when it comes to the retail market in KPMG Banking Industry Customer Satisfaction Survey (BICSS).
During the ending of 2017, December to be precise, Fidelity Bank Plc were able to record a total number of assets that were valued at over US$4.2 billion (NGN:1.4 + trillion), and over US$610 million (NGN:203 billion) for shareholders’ equity. They have been able to serve their over 4 million customers using their 240 business offices as a channel, 4,346 POSs, and their 775 ATMs. Fidelity Bank got listed on the Nigerian Stock Exchange in May 2005 and currently, they have over 400,000 diverse shareholders. In line with BGL Plc, the bank had a market capitalization worth NGN:37,072,109,685.76
- 1 Fidelity Bank Plc History
- 2 Fidelity Bank Plc Branch Network
- 3 Read More About Fidelity Bank
Fidelity Bank Plc History
Fidelity Bank of Nigeria became incorporated in 1987 and was recorded to have begun its operations in 1988. They were at first recognized as a Merchant Bank.
In 1999 the bank became licensed as a commercial bank and in an attempt to grow and do more like a private limited company, they became a Public Limited Company in August 1999 and also changed their name to what is now known as Fidelity Bank Plc.
In 2001, they obtained their Universal Banking License and in 2011, they also got their International Banking License. Like we earlier mentioned, Fidelity Bank of Nigeria was able to obtain both Manny Bank Plc and FSB International Bank Plc which increased their portfolio and made them stand out as one of the top stable financially banks in Nigeria. In recent times, the bank has their branches in all the 36 states in Nigeria. They have also been placed among the most capitalized banks in Nigeria with their tier-one capital of almost One Billion US Dollars.
Fidelity Bank Plc Branch Network
Fidelity bank has many interconnected branches in every part of the Nigerian states and cities. Like we earlier mentioned that the bank currently has 240 business offices and 774 ATM stand.