Tuesday, October 7, 2025
23.5 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
spot_img

Hot this week

Fidelity Bank Commences Disbursement of FGN MSME Intervention Funds

Tier One Lender, Fidelity Bank Plc, has commenced the...

Fidelity Bank Honours Afreximbank President, Benedict Oramah, in Lagos

L -R: Minister of Industry, Trade and Investment, Dr....

Union Bank Champions Employee Wellness with Stay Recharged Health Walk

Union Bank of Nigeria held its first-ever Stay Recharged...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Stanbic IBTC Holdings Reports Remarkable Financial Growth for H1 2025    

Overview of Financial Performance  As of June 30, 2025, Stanbic...

Topics

New Book Reveals How Atiku, Joda, Ndukwe Saved 2001 GSM Licence Auction

Expectations were high on January 19, 2001, the day...

AIICO Insurance to Deepen Insurance Penetration in Nigeria

Mr. Babatunde Fajemirokun Managing Director/CEO AIICO Insurance Plc AIICO Insurance Plc has...

FOR THE RECORD

ACCEPTANCE SPEECH BY THE NEWLY ELECTED CHAIRMAN OF THE...

First Bank Deepens Financial Inclusion via Agent Banking Network, Empowers SMEs

Adesola Adeduntan CEO First Bank At present, there are over 86,000...

MTN: ‘Claims of Reported Final Fine Settlement Premature’

The management of MTN Nigeria says it is premature...

Rotimi Edu Becomes 21st President of NCRIB

Barrister Oluwarotimi Edu is expected to become the 21st...

Sanofi Reinforces Commitment as Africa Becomes Free of Wild Poliovirus

The independent Africa Regional Certification Commission (ARCC), the body...

10 Elements Driving Change in Business Processes, People, Services

A new initiative by ACCA (the Association of Chartered...
spot_img

Related Articles

Popular Categories

spot_imgspot_img