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Tag: Fidelity Bank Plc

Fidelity Bank fined ₦555.8bn for data breach
News

Fidelity Bank fined ₦555.8bn for data breach

A Nigerian tier-2 bank with a market capitalization of ₦323 billion, Fidelity Bank has been fined ₦555.8 million by the Nigeria Data Protection Commission for a data protection violation. The fine, which amounts to 0.1% of the bank’s 2023 revenue, must be paid within 14 days of receiving the notice, according to the NDPC. The […]

Fidelity Bank extends GMD/CEO contract
Banking

Fidelity Bank projects over N1bn loss to lawsuits

Fidelity Bank’s management estimated that, for the year ending in December 2023, it would lose over N1.19 billion due to claims and litigation. The PUNCH reported that its unaudited financial accounts for 2023, which were submitted to the Nigerian Exchange Limited, demonstrated this. According to the lender, it was involved in legal proceedings resulting from […]

Fidelity Bank extends GMD/CEO contract
Banking

Fidelity bank records 172% pre-tax profit growth in Q3 2023

Fidelity Bank announced its 2023 Q3 results, revealing that pre-tax profits increased by 172.60% year on year, reaching N34.658 billion. According to The Times, the pre-tax profit for the first nine months was N110.992 billion, up from N37.792 billion at the same time the previous year. The significant expansion in gross earnings is the main cause of […]

Cocoa hits largest weekly gain in 24 years at $6,470 as Nigeria's supply drops
Business

AFREXIM, Fidelity Bank, JohnVents sign $40m cocoa export deal

Fidelity Bank, African Export-Import Bank, and JohnVents Industries struck a $40 million cocoa export transaction at the Fidelity Bank International Trade and Creative Connect in Houston, Texas. The Punch reported that according to a bank statement issued on Sunday, the $40 million pre-export finance facility was signed at the trade show. AFREXIM Bank would provide […]

Fidelity Bank targets $250m Nigeria, UK businesses' deal
Banking

Fidelity Bank plans trade show in Texas

Fidelity Bank Plc has announced that the second edition of the Fidelity International Trade and Creative Connect, dubbed FITCC Houston, will take place in Houston, Texas, in the United States of America. The Punch reported that the international expo will be held from October 24th to 25th, 2023 at the sumptuous George R. Brown Convention Centre, […]

Fidelity Bank targets $250m Nigeria, UK businesses' deal
Business

Fidelity Bank reports N76.3bn profit in H1

Fidelity Bank Plc reports that its profit before tax increased by 204.4 percent to N76.3 billion at the conclusion of the first half of the fiscal year 2023. The Punch reported that the bank reaffirmed its status as one of the fastest-growing and well-managed financial institutions in Nigeria in a statement that claimed an analysis of […]

Fidelity Bank targets $250m Nigeria, UK businesses' deal
Banking

Fidelity Bank offers loan program to schools

As summer vacation comes to an end, Fidelity Bank Plc says it would assist schools in effectively preparing for the next session and delivering quality education. In a statement, it claimed administrators of private primary, secondary, and tertiary institutions in Nigeria may receive loans of up to N180m through its product known as the Fidelity […]

Fidelity Bank targets $250m Nigeria, UK businesses' deal
Banking

Fidelity Bank reports highest earnings per share on NGX H1 2023

Fidelity Bank Plc has been named the firm with the greatest earnings per share on the Nigerian Exchange Limited for the second year in a row. According to a BusinessDay report, the firms with the highest earnings per share during the review period were Fidelity Bank, Seplat Energy, Total Energies, Okomu oil, Presco, Dangote Cement, […]

Fidelity Bank targets $250m Nigeria, UK businesses' deal
Banking

Fidelity bank to raise capital through public offer

Fidelity Bank Plc has announced plans to raise capital through a mix of a public offer and a rights issue. This information was released by the tier 2 bank via a press release on the NGX. At the current share price of N7.3, the sale may bring in nearly N96.3 billion in additional capital for […]

NEXIM, Fidelity, Sapphital partner to boost exports
Business

NEXIM, Fidelity, Sapphital partner to boost exports

In an effort to increase Nigeria’s foreign exchange revenues, the Nigerian Export-Import Bank has established strategic cooperation with Fidelity Bank Plc and Sapphital Learning Limited. According to The Punch, the cooperation would use the NEXIM Export Academy, an online platform that gives exporters access to funding to expand their operations and capacity-building training, to help export […]

Banking featured

How to make cardless ATM withdrawal at Fidelity Bank

Oluwanifemi Ojo   Customers of Fidelity Bank can now withdraw cash from the banks Automated Teller Machines across the country without using their ATM cards. The bank made this known while announcing its cardless withdrawal service. “The #FidelityPaycode cardless withdrawal feature is now available on all our ATM terminals. “Now there’s no need to worry […]

Why shareholders approved Union Bank UK sale
Banking

Why shareholders approved Union Bank UK sale

The recent sale of Union Bank UK, a subsidiary of Union Bank Plc to Fidelity Bank has been attributed to its poor performance in recent times. According to Nairametrics, it was revealed that shareholders approved the sale of the bank in their recent Extra Ordinary General Meeting because it has been reporting losses as against […]