Fidelity Bank, which is popularly known as Fidelity Bank Plc., is a commercial bank in Nigeria that has its headquarters in Victoria Island, Lagos. Fidelity is a licensed commercial bank with international authorization from the Central Bank of Nigeria (CBN).
The bank has grown from being a small player in the Nigerian financial system in the late '90s and has grown to be one of Nigeria’s leading financial institutions. In 2005, the bank acquired FSB International Bank Plc and Manny Bank Plc to be able to create one of the top 10 Nigerian Banks. Fidelity Bank Plc was ranked the 7th most capitalized bank in Nigeria in 2011 and the 25th most capitalized bank in Africa. The bank increased in providing good services and became the 4th best bank in Nigeria in 2017.
It was also said that Fidelity Bank Plc has total assets of over $4.2 billion (NGN:1.4 + trillion) and stakeholder equity holding up to US$610 million (NGN:203 billion). The bank has more than 4 million customers and has over 240 business offices, 775 ATMs, and 4,346 POS.
Currently, the bank has over 400,000 shareholders. Fidelity Bank Plc was listed on the Nigerian Stock Exchange in May 2005 and has since paid dividends for the past 12 years. The market capitalization of Fidelity Bank is said to be NGN:37,072,109,685.76.
When Was Fidelity Bank Formed?
Fidelity Bank started in 1987 and began its operation in 1988. The bank started with a merchant banking license.
The bank later converted to a commercial bank in 1999 as it aimed to expand its reach as a private limited company in August 1999; that same year, it was re-branded as Fidelity Bank Plc.
Fidelity secured its Universal Banking Licence in February 2021 and got its International Banking License in 2011.
How to Open a Fidelity Bank Account
Individual/Personal- Visit the Fidelity Bank Online Account Portal
- Click “Open a New Account”
- Choose between Savings, Current, and Diaspora
- Toggle between Open With BVN/Open Without BVN
- Enter the OTP (if opening with BVN)
- Enter all the required details
- Upload your valid ID (voter’s card, international passport, driver’s license, or NIN)
- And click Submit