Wednesday, August 27, 2025
23.9 C
Lagos

Fidelity Bank Promotes 12% of Workforce, Increases Salaries by 20%

Fidelity Bank Plc, one of Nigeria’s top-tier financial institutions, has promoted 376 employees following its recently concluded annual performance review exercise.

This represents approximately 12% of the bank’s workforce, underscoring its management’s deep appreciation for the pivotal role played by staff in recoding the highest growth by percentage volumes in the banking industry with 210% increase in its Profit Before Tax (PBT) which grew from N124.3 billion in 2023 to N385.2 billion in 2024.

The announcement, which was recently communicated internally, comes on the heels of a 20% across-the-board salary increase implemented in June 2025—a gesture that reflects the bank’s commitment to staff welfare. It is worth noting that this follows a similar salary adjustment carried out in November 2024.

Under the leadership of Dr. Nneka Onyeali-Ikpe, Fidelity Bank has consistently outperformed market expectations. In 2024, the bank recorded the highest share price growth of 116% in the industry following the completion of its Public Offer which was over-subscribed by 238%.

In recognition of the banks stellar performance, global rating agency, Fitch Ratings recently upgraded Fidelity Bank’s National Long-Term Rating from ‘A(nga)’ to ‘A+(nga)’ in a further endorsement of the bank’s financial strength and prudent management.

The upgraded rating reflects improved profitability metrics and robust capital buffers, reinforcing the bank’s sustained upward trajectory.

spot_img
spot_img

Hot this week

Fidelity Bank to Host Eduthrive Conference to Empower School Owners Ahead of New Academic Session

Leading financial institution, Fidelity Bank Plc, is set to...

Japan Designates City of Kisarazu as Hometown for Nigerians

Mrs. Florence Akinyemi Adeseke, Nigeria’s charge d’affaires and Yoshikuni...

Tinubu Lauds Petrobras’ Imminent Return as Nigeria, Brazil Ink MoUs to Boost Economic Ties

President Bola Tinubu on Monday welcomed Petrobras's imminent return...

Businessman, Ajose, Donates Materials to APC for Continuous Voters Registration Exercise

As part of efforts to support the rulling All...

LASAA Reaffirms Commitment to Fairness, Safety, Industry Growth

Prince Fatiu Akiolu MD, LASAA Lagos State Signage and Advertisement Agency...

Topics

Renewable Energy to Drive 4th Industrial Revolution

Far from being a romantic dream, renewables are central...

Life Insurance Explained: Why Staying the Course Matters More Than Early Withdrawal

In response to recent media inquiries highlighting common misconceptions...

Virgin Atlantic Orders 12 Airbus 35O for $4bn

Virgin Atlantic Airways has selected the A350-1000, the largest...

Osinbajo, Obaseki Applaud Interswitch Group at 20th Anniversary Grand Finale

L-R: Chief Executive Officer, Interswitch eClat, Dr. Wallace Ogufere;...

Fidelity Bank Delivers Hope to Internally Displaced Persons in Benue State

Team Lead, CSR, Fidelity Bank Plc, Victoria Abuka (Left);...

FORD: Tips for First-time Car Buyers

In the market for a set of wheels? Never...

Aiteo Founder, Peters, Wins Forbes Oil & Gas Leader of the Year Award 2018

R-L: Benedict Peters, Founder of AITEO Group receiving the...

‘Nigeria Must Work Hard to Harness E-Govt Benefits’—Shittu

The former Minister of Communications, Dr. Abdur-Raheem Adebayo Shittu,...
spot_img

Related Articles

Popular Categories

spot_imgspot_img