Fidelity Bank has reassured that it will continue to take measures that will ensure the safety of customers, staff and other stakeholders during this period. This reassurance was given on Thursday during the bank’s 32nd Annual General Meeting (AGM) in Lagos.
Speaking at the annual shareholders meeting, Chairman, Board of Directors of Fidelity Bank, Mr. Ernest Ebi said the bank “remains committed to building a sustainable business, even in the midst of the challenges associated with the COVID-19 pandemic”. Mr. Ebi, who was a former Deputy Governor of the Central Bank of Nigeria (CBN), revealed that the Board, in line with its oversight responsibilities, has been meeting virtually, to strategize on new opportunity areas to cushion the impact of the pandemic and to sustain the growth trajectory of the bank in recent years.
These views were also affirmed by Fidelity Bank CEO, Mr. Nnamdi Okonkwo who said Fidelity Bank’s greatest strength its ability to adapt to change. According to him, the bank would explore new prospects that are opening up in the retail market, continue to focus on customer-centricity, innovation and digitization, whilst keeping its eye on governance, risk and liquidity. “We place a high premium on risk management and will continue to review our risk acceptance criteria in reaction to new market realities” he assured.
The meeting which was held by proxy, in compliance with the Corporate Affairs Commission’s (CAC) issued guidelines on holding AGMs within the period, had in attendance very few shareholders, on account of social distancing and restriction of movement in Lagos as a result of COVID-19 preventive and precautionary measures. Others joined remotely via live streaming.
The shareholders who spoke on the occasion, gave kudos to the Board and management for the 2019 performance which saw the bank delivering double-digit growth across key performance indices. Gross Earnings grew by 14. percent to N215.5 billion, driven by a 15.8 percent growth in interest and similar income. The bank’s Profit Before Tax (PBT) rose by 21percent from N25.1 billion in 2018 to N30.4 billion in 2019.
The shareholders unanimously endorsed the payment of a cash dividend of 20 kobo per share, which translates to N5.793 billion for the year ended December 31, 2019. Mr. Boniface Okezie, National Coordinator, Progressive Shareholders Association of Nigeria applauded the dividend growth from 11kobo paid in 2018 to 20 kobo in 2019. “From all the indices, this is a superlative performance. The achievement of over N30 billion in profits is indeed worthy of commendation”, Okezie stated.
Chief Timothy Adesiyan, President of the Nigerian Shareholders’ Solidarity Association commended the improvements particularly in interest income, Non-Performing Loans (NPLs), Liquidity Ratio, Profit After Tax and Gross Earnings. Whilst lauding the bank for its digitization programme, he expressed optimism that the bank is truly positioned to take advantage of new and emergent opportunities on account of the bank’s comprehensive upgrade of its technology architecture.
Meanwhile Fidelity Bank has begun the 2020 financial year on a positive note with the announcement of its unaudited results for the three months ended March 31, 2020. Gross Earnings for the first quarter of the year, grew by 5.7 percent to N51.2 billion from N48.4 billion in the previous year, whilst Profit before Tax (PBT) stood at N6.6 billion representing a marginal drop from N6.7billion recorded in the first quarter of 2019.
Shareholders’ Funds the other hand grew by 3.6 percent from N234billion in 2019 to N242billion in the first quarter of 2020.
I simply want to tell you that I am just newbie to blogs and truly savored you’re website. Very likely I’m want to bookmark your blog . You actually come with beneficial writings. Many thanks for sharing your blog.
MAKE AMERICA GREAT AGAIN! TRUMP 2020https://www.mofabinds.com/product/gym-shirts-7/SUPPORT POLICE BRUTALITY AGAINST NASTY BLACKS. BLUE LIVES MATTER MORE!
http://www.diversifiedindustries.com/supeltt8856/pmuuKkWv2/41308-We5US8H_jtxnjk_twgjhxwu_ppr.wx.q Racist Skank Adeline Bababikov has cheap rates – call/text for appt 303-949-0383 720-513-3865
high line pointe apartments
high line pointe reviews
high line pointe apartments
high line pointe apartments
high line pointe review
high line pointe
high line pointe
high line pointe apartments
high line pointe
high line pointe denver
810298 347782Hey there! Good stuff, please maintain me posted when you post something like this! 430191
980280 619288Great weblog here! Also your website loads up rapidly! What host are you employing? Can I get your affiliate link to your host? I wish my website loaded up as rapidly as yours lol 289996
855001 735172I dugg some of you post as I cogitated they were extremely beneficial invaluable 325922
692873 54447The subsequent time I read a weblog, I hope that it doesnt disappoint me as a good deal as this 1. I mean, I know it was my option to read, but I truly thought youd have something attention-grabbing to say. All I hear is really a bunch of whining about something which you possibly can repair really should you werent too busy on the lookout for attention. 992301
415576 120276a lot of thanks for telling!. Truth is usually the top vindication against slander. by Abraham Lincoln.. 370088
496643 147797fantastic points altogether, you simply gained a brand new reader. 839650
556664 248891Thanks for all your efforts which you have put in this. quite intriguing info . 573767
201048 485838I adore reading and I conceive this internet site got some genuinely utilitarian stuff on it! . 556781
713388 543915Thanks for the excellent post against your weblog, it genuinely provides me with a appear about this subject.??;~.?? 233978
192962 287008I truly appreciated this amazing weblog. Make positive you maintain up the very good work. All the very best !!!! 217373
732056 639741As I internet site owner I believe the articles here is really amazing , thankyou for your efforts. 126644
666623 890142There some fascinating points in time in this post but I dont know if I see these center to heart. There may possibly be some validity but Ill take hold opinion until I explore it further. Outstanding post , thanks and then we want a lot much more! Put into FeedBurner too 279035
502582 999310I recognize there is a superb deal of spam on this website. Do you require aid cleaning them up? I could help in between courses! 509189
501707 648233Hello to all I cannot comprehend the strategy to add your website in my rss reader. Assist me, please 766219
247049 949038The luxury proposed might be incomparable; citizens are never fail to searching for bags is really a Native goals. The notion numerous insert goals uniquely to push diversity with visibility during the travel and leisure arena. Hotels Discounts 492746
358764 729143Hey this really is kinda of off topic but I was wanting to know if blogs use WYSIWYG editors or in the event you need to manually code with HTML. Im starting a weblog soon but have no coding experience so I wanted to get advice from someone with experience. Any assist would be greatly appreciated! 609613
Nice post. I learn something totally new and challenging on websites
752906 125428Would really like to perpetually get updated excellent weblog ! . 287843
But wanna say that this really is quite helpful Thanks for taking your time to write this.<a href="https://www.cse.google.com.sa/url?sa=t
Great post Thank you. look forward to the continuation.-vox mediathek
Very well presented.very quote was awesome and thanks for sharing the content.Sceptre 24-inch Professional Thin 1080p LED Monitor 99% sRGB 2x HDMI VGA Build-in Speakers Machine Black (E248W-19203R Series) – Hot Deals
You’re so awesome! I don’t believe I have read a single thing like that before. – hey dudes for girls
I very delighted to find this internet site on bing just what I was searching for as well saved to fav .
This scenery is awe-inspiring, thank you for sharing! view publisher site
829891 615868I actually dont accept this specific post. Nonetheless, I had searched with Google and Ive identified out that you are proper and I had been thinking within the improper way. Maintain on creating top quality material related to this. 522157