SHAREHOLDERS BACK FIDELITY BANK ’s RECAPITALISATION PLAN
Shareholders have expressed strong support for Fidelity Bank Plc's ongoing recapitalisation plan. During the bank's recent annual general meeting, shareholders committed to participating in any share offering by Fidelity Bank.
Fidelity Bank, classified by the Central Bank of Nigeria as a commercial bank with international authorisation, must meet a N500bn capital base requirement. Moses Igbrude, National Coordinator of the Independent Shareholders Association of Nigeria, praised Fidelity Bank for its sustainable growth and urged the bank to maintain good corporate governance.
Dr. Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders, highlighted the bank's encouraging performance and successful acquisition of Union Bank UK as indicators of its financial strength. He also noted the bank’s interim dividend payments and strong succession planning with the appointment of Dr. Nneka Onyeali-Ikpe as group managing director.
Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, commended the bank's leadership and continuous impressive results despite economic challenges.
In its first quarter interim report, Fidelity Bank showed significant growth across key performance indicators. Gross earnings rose by 89.9% to N192.1bn, with a 90.7% increase in interest income and an 84% rise in non-interest income. Profit before tax increased by 120% to N39.5bn compared to the previous year.
Shareholders have expressed strong support for Fidelity Bank Plc's ongoing recapitalisation plan. During the bank's recent annual general meeting, shareholders committed to participating in any share offering by Fidelity Bank.
Fidelity Bank, classified by the Central Bank of Nigeria as a commercial bank with international authorisation, must meet a N500bn capital base requirement. Moses Igbrude, National Coordinator of the Independent Shareholders Association of Nigeria, praised Fidelity Bank for its sustainable growth and urged the bank to maintain good corporate governance.
Dr. Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders, highlighted the bank's encouraging performance and successful acquisition of Union Bank UK as indicators of its financial strength. He also noted the bank’s interim dividend payments and strong succession planning with the appointment of Dr. Nneka Onyeali-Ikpe as group managing director.
Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, commended the bank's leadership and continuous impressive results despite economic challenges.
In its first quarter interim report, Fidelity Bank showed significant growth across key performance indicators. Gross earnings rose by 89.9% to N192.1bn, with a 90.7% increase in interest income and an 84% rise in non-interest income. Profit before tax increased by 120% to N39.5bn compared to the previous year.