Skip to main content

Fitch Upgrades Fidelity Bank’s National Rating to ‘A+(nga)’, Affirms Long-Term IDR at ‘B’




Global credit rating agency, Fitch Ratings, has affirmed Fidelity Bank Plc’s Long-Term Issuer Default Rating (IDR) at ‘B’ and upgraded its National Long-Term Rating to ‘A+(nga)’ from ‘A(nga)’. The upgrade, announced on May 29, 2025, reflects the bank’s strengthened capital buffers and improved profitability, signaling continued positive momentum in its performance.


According to Fitch, the rating upgrade is underpinned by Fidelity Bank’s successful capital raise through a rights issue and public offer, as well as a notable improvement in profitability—driven by higher interest income and a stable base of low-cost current and savings deposits.


Commenting on the announcement, Managing Director/CEO of Fidelity Bank, Dr. Nneka Onyeali-Ikpe, said, “This upgrade by Fitch Ratings affirms the resilience of our business model, the strength of our risk management practices, and our unwavering focus on delivering sustainable value to stakeholders. Despite a challenging macroeconomic environment, we have continued to maintain strong asset quality, solid profitability, and ample liquidity. This recognition reinforces our position as one of Nigeria’s most resilient and customer-focused financial institutions.”


One of the key drivers of the improved rating is the bank’s robust capitalization. Fitch reports that Fidelity’s Fitch Core Capital (FCC) ratio rose to 29.9% at the end of 2024—well above the regulatory minimum. The agency also noted that further capital raising efforts are expected to position the bank to meet the ₦500 billion minimum capital requirement for internationally licensed banks before the 2025 deadline.


Fidelity Bank's market positioning remains strong. As Nigeria’s sixth-largest bank, it commands approximately 5% of total banking sector assets. The bank’s balance sheet is reinforced by a high proportion of low-cost deposits, which accounted for 93% of total deposits as of year-end 2024—among the highest in the Nigerian banking industry.


The affirmation and upgrade by Fitch is expected to enhance investor confidence and support Fidelity’s continued efforts to scale its operations both locally and internationally.


Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.


The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Comments

Post a Comment

Popular posts from this blog

ZAMFARA BYE - ELECTION: GOVERNOR DAUDA LAWAL NOT HAPPY WITH THE OUTCOME, DIRECTS REPS MEMBER TO RETURN N1.5B OUT OF 2B.

  Political temperature seem to be very higher withing the circle of Zamfara people Democratic party PDP stakeholders  after Kaura Namoda  bye - election where opposition All progressive congress APC got 6,999 votes while the rulling People Democratic party PDP got 5338 Votes. Zamfara State government House insider who begged for anonymity , said that ,"governor Dauda Lawal had a sleepless night monitoring the election, and was seriously not happy with the outcome of the result's considering the huge amount of Monies spent to shame APC and it's leaders in the State. Multiple sources within Zamfara PDP stakeholders Confirmed that , governor Dauda Lawal has  directed the  Secretary to the State government (SSG) Mohammed Nakwada to liase with the Deputy governor of the State Malam Mani Malam Mumuni to recover N1.5b given to the campaign Chairman,   Honourable Kabiru Alhamdu Mai palace as  being mobilization Funds to return PDP elected for the just co...
Post a Comment
Read more

Former Zamfara Information Commissioner Ibrahim Dosara Gifted a car given to him by his Principal BelloMatawallen Maradun.

Former Zamfara State  Commissioner for information during the administration of His Excellency the immediate past Gov of the state Bello Mohammed Matawalle Hon Ibrahim Dosara has gifted a Mercedes Benz Car 230, 2005 Model to one of the famous APC Social Media influencer Malam Usman Faisal popularly known as "Sarkin Yakin Ibrahim Dosara". During the Car documents presentation to Faisal,  Ibrahim Dosara said --- in his Words, " I was given a 2005 Mercedes Benz Car last two weeks by one of my State hardworking Politician which I think it should have been given to Some Boys working under me because Most of them are not Mobile, in the process. " I Contacted My brother Sani Makari to Come and pick the car for his domestic use, unfortunately Makari Vehemently rejected the car, and told me last week that he is not interested." Usman Faisal popularly known as  "Sarkin Yakin Dosara" is an indigene of Adamawa State who is known for promoting the Honourable Minis...
Post a Comment
Read more

Women group cries out over humiliation of Couple, by former Katsina Acct general for alleged N750,000,000 Scandal Urges EFCC to investigate.

Katsina Marketers women group association have called for the Economic and Financial Crimes Commission EFCC to investigate the Embattled former Katsina State Accountant general Kabiru Dankaura for accusing couple, his former driver and a Vulcanizer for receiving the Sum of Seven hundred and Fifty Million Naira from his wife for safe keeping while serving under the administration of His Excellency Aminu Bello Masari. The group Public relation Officer Hajiya Aminatu Batsari during a press briefing in Katsina worried about on how the former Accountant general Kabiru Dankaura Collaborated with one Police officer Inspector Dagun to force the accused persons under Durex to accept recieving the said amount from Kabiru Dankaura wife for safe keeping which appears to be false, ” Hajiya Aminatu Batsari lamented. Further investigations reveals that the suspects were mobile textiles traders which their total capital is not up to N250,000 but are being patronized by the the former Accountant genera...
Post a Comment
Read more