Fidelity Bank’s shareholders have commended the bank’s board and management for delivering an outstanding performance in the 2024 financial year.
During the bank’s 37th Annual General Meeting that was held virtually, Managing Director/CEO, Dr. Nneka Onyeali-Ikpe, attributed the success to strong growth across key revenue lines, improved asset quality, and significant traction in strategic business segments.
Fidelity Bank recorded a 210% growth in Profit Before Tax to N385.2 billion, driven by an 87.7% increase in Gross Earnings to N1,043.4 billion.
The bank’s net interest income rose by 127.1% to N629.8 billion, thanks to a high-yield environment in 2024.
Customer deposits increased by 47.9% from N4.0 trillion in 2023 to N5.9 trillion, while Net Loans & Advances grew from N3.1 trillion in 2023 to N4.4 trillion.
Dr. Onyeali-Ikpe highlighted the bank’s resilience despite global economic challenges, stating, “We are delighted with our 2024 full-year performance, which showed strong growth across key revenue lines, improved asset quality, and significant traction in our strategic business segments.”
The bank has declared a final dividend of N1.25 per share, bringing the total dividend for the 2024 financial year to N2.10 per share.
Fidelity Bank’s remarkable performance has earned it numerous awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award and the Best Bank for SMEs in Nigeria.
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