Fidelity Bank Nigeria
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Public NSE : FIDELITY BANK | |
| Industry | Financial Services |
| Founded | 1988 |
| Headquarters | Lagos, Nigeria |
Key people |
Christopher Ezeh Chairman Mohammed Lawal Balarabe Ag. Managing Director & Chief Executive Officer[1] |
| Products | Loans, Credit Cards, Savings, Investments, Mortgages |
| Total assets | US$6+ billion (NGN:1+ trillion) (2013) |
| Website |
fidelitybank |
Fidelity Bank, also known as Fidelity Bank Plc., is a commercial bank in Nigeria. It is licensed as a commercial bank, by the Central Bank of Nigeria, the central bank and national banking regulator.[2]
Overview
In 2011, the bank was ranked the 7th most capitalized bank in Nigeria, the 25th most capitalized bank on the African continent and the 567th most capitalized bank in the world. As of December 2013, Fidelity Bank Plc. was a large financial services provider in Nigeria with total assets estimated at over US$6.318 billion (NGN:1+ trillion), and shareholders' equity in excess of US$1 billion (NGN:158 billion). At that time, the bank served 2.3 million customers at about 220 branches nationally.[3]
History
Fidelity Bank Plc began operations in 1988 as Fidelity Union Merchant Bank Limited. By 1990, it had distinguished itself as the fastest growing merchant bank in the country. It converted to a commercial bank in 1999, following the issuance of a commercial banking license by the Central Bank of Nigeria, the national banking regulator. That same year the bank rebranded to Fidelity Bank Plc. It became a universal bank in February 2001, with a license to offer the entire spectrum of commercial, consumer, corporate and investment banking services.
The current enlarged Fidelity Bank is the result of the merger with the former FSB International Bank Plc and Manny Bank Plc (under the Fidelity brand name) in December 2005. Fidelity Bank is today ranked amongst the top 10 in the Nigerian banking industry, with presence in all the 36 States as well as major cities and commercial centers of Nigeria. Fidelity continues to rank among Nigeria's most capitalized banks, with tier-one capital of nearly USD1 billion (One Billion US Dollars).[4]