Friday, November 16, 2018

Tag "nnamdi okonkwo"

    Digital transactions push Fidelity Bank to double-digit profit

Digital transactions push Fidelity Bank to double-digit profit

Increased digital transactions have pushed Fidelity Bank Plc's profits to double-digit territory.In the audited half-year results for 2018 published by the bank on Wednesday, the bank said profit before tax grew by 27.3% and profit after-tax by 31% to close at N11.8 billion.The bank said its gross earnings rose to N88.9 billion from the N85.8 billion recorded in 2017 and [...]

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    Okonkwo: Nigerian banks can give loans at 9% interest rate

Okonkwo: Nigerian banks can give loans at 9% interest rate

Nnamdi Okonkwo, the chief executive officer of Fidelity Bank, says Nigerian banks have the capacity to give out loans to certain sectors of the economy at nine percent interest rate.Speaking on ARISE TV on Saturday, the Fidelity Bank boss said his bank is ready to take advantage of the new credit policy guideline released by the Central Bank of Nigeria [...]

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    Fidelity Bank to redesign operations ‘to reduce expenses’

Fidelity Bank to redesign operations ‘to reduce expenses’

Nnamdi Okonkwo, Fidelity Bank CEO, says the bank would focus on redesigning its systems and processes to enhance service delivery and reduce operating expenses.Speaking at the bank’s 30th annual general meeting (AGM) in Lagos, Okonkwo said the bank will continue to increase the migration of customers to its digital platforms."We will enhance our robust electronic banking processes and products thereby [...]

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    Reduced costs push Fidelity Bank’s profit by 94% in 2017

Reduced costs push Fidelity Bank’s profit by 94% in 2017

Fidelity Bank has reported a 94 percent growth in profit for the financial year that ended on December 31, 2017 and proposed an 11 kobo per share dividend for investors.According to a statement by the bank, it's gross earnings increased by 18.3 percent from N152 billion to N179.9 billion and profit after tax grew by 93.7 percent from N9.7 billion [...]

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    Fidelity Bank MD: We’ve disbursed N2.5bn to 500 SMEs

Fidelity Bank MD: We’ve disbursed N2.5bn to 500 SMEs

Nnamdi Okonkwo, managing director of Fidelity Bank, says the bank has disbursed N2.5 billion to 500 small and medium enterprises (SMEs).At a press conference in Lagos on Wednesday, Okonkwo said the money was part of the loan from the Central Bank of Nigeria (CBN)."SME banking is in our DNA, giving people money does not solve the problem," he said."Empowering the [...]

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    Digital banking, savings deposits push Fidelity’s profits by 66%

Digital banking, savings deposits push Fidelity’s profits by 66%

Fidelity Bank says the 66% profit growth it recorded in the first half of 2017 can be attributed to efforts made to deepen digital banking and increased savings deposits.In a statement, the bank said it recorded growth in significant indices in the first half of the year that ended June 30, 2017.Details of the audited results, released at the Nigerian [...]

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    Fidelity Bank posts N152bn gross earnings in 2016

Fidelity Bank posts N152bn gross earnings in 2016

Fidelity Bank has announced gross earnings of N152 billion for the 2016 financial year.According to a statement issued by the bank on Sunday in Lagos, the gross earnings represented an increase of 3.5 percent when compared with N146 billion achieved in the corresponding period of 2015.It said the interest income grew by 1.7 percent from N60.9 billion to N61.9 billion, [...]

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    The voltage we generate at all our branches can power Lagos, says Fidelity Bank MD

The voltage we generate at all our branches can power Lagos, says Fidelity Bank MD

Nnamdi Okonkwo, managing director of Fidelity Bank, says the voltage being generated at all 248 branches of the bank across the country can power the whole of Lagos state.Okonkwo made the remark at a conference organised by the Finance Correspondents Association of Nigeria (FICAN) in Lagos.He blamed the inability of commercial banks to give long-term credit facilities on the non-availability of long-term-deposits.The [...]

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    Fidelity Bank grows total assets to N1.4 trillion

Fidelity Bank grows total assets to N1.4 trillion

Fidelity Bank Plc says its total assets increased by 13.5 percent to N1.398 trillion from N1.232 trillion in 2015, while total equity remained flat at N183.5 billion.The commercial bank, which released its unaudited results for the half year ended June 30, 2016, on Tuesday, said its deposit base grew to N829.9 billion from N769.6 billion in 2015 Financial Year (FY), [...]

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    Fidelity Bank posts pay-out profit for 6 straight years

Fidelity Bank posts pay-out profit for 6 straight years

Fidelity Bank Plc, one of Nigeria’s most capitalised financial institutions, says it is maintaining a tradition of consistent dividend pay-out for six years consecutively.The bank’s gross earnings for the period ended December 31, 2015 grew to N146.9 billion from N136.1 billion recorded in 2014 Financial Year (FY), with a promised shareholders’ dividend pay-out of N4.6 billion at 16 kobo per [...]

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    Fidelity Bank gives 10-year internet access to Abuja school

Fidelity Bank gives 10-year internet access to Abuja school

Fidelity Bank has donated computer sets with 10 years unlimited internet access to Government Secondary School in Abuja.Nnamdi Okonkwo, managing director/chief executive officer Fidelity Bank, said the gesture is geared towards building the capacity of students, particularly on the use of modern ICT tools.According to him, the renovation of the ICT centre is in fulfilment of the objectives of the [...]

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    Saraki tells banks to expose corrupt customers

Saraki tells banks to expose corrupt customers

Senate President Bukola Saraki has urged banks to assist the federal government in the fight against corruption by reporting suspicious accounts and transactions.According to Sani Onogu, Saraki’s media assistant, the senate president made the call when the management of Fidelity Bank Plc visited him at the national assembly on Thursday.The statement quoted Saraki as saying banks were at a vantage [...]

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    Fidelity Bank grows Q3 profit ‘despite TSA pain’

Fidelity Bank grows Q3 profit ‘despite TSA pain’

Fidelity Bank Plc's third quarter result shows increase of 11 percent and 1.8 percent in its gross earnings and profit respectively, despite regulatory and economic pressure from implementation of federal government’s treasury single account (TSA).Though the bank’s gross earnings grew from N96 billion in the nine month period to N106.6billion in the third quarter of 2015, it also experienced a [...]

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    Fidelity Bank begins Saturday banking services

Fidelity Bank begins Saturday banking services

Fidelity Bank has announced the commencement of Saturday banking services in select branch locations across the country.The bank said the initiative is in line with the its mission to make financial services easy and accessible, especially with its renewed effort to provide a new face of service in the industry.The Saturday banking services will be "effective immediately" and will be between 10am [...]

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    Fidelity Bank targets retail, SMEs as corporate margins narrow

Fidelity Bank targets retail, SMEs as corporate margins narrow

Fidelity Bank Plc is raising its play in the retail, commercial and small and medium enterprises sector, where opportunities abound for higher returns, John Obi, executive director, corporate bank, has said.He said  corporates are witnessing shrinking margins.The new policy does not mean that Fidelity is de-emphasising its operations in the corporate sector, but will seek to operate along the entire [...]

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Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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