Fidelity Bank Plc has rewarded 12% of its workforce, about 376 employees, with promotions following its recently concluded annual performance review. This move comes as the bank posts record-breaking financial results, including a staggering 210% surge in Profit Before Tax (PBT) from ₦124.3 billion in 2023 to ₦385.2 billion in 2024.
In a show of commitment to staff welfare, the bank also approved a 20% salary increase across the board in June 2025. This marks the second raise within a year, following a similar adjustment in November 2024.
Under the leadership of CEO Dr. Nneka Onyeali-Ikpe, Fidelity Bank has continued to exceed market expectations. In 2024, the bank led the industry with a 116% rise in share price after its highly successful public offer, which was oversubscribed by 238%.
The bank’s consistent growth has also earned it recognition from global credit rating agency, Fitch Ratings, which recently upgraded its National Long-Term Rating from ‘A(nga)’ to ‘A+(nga)’. This upgrade reflects Fidelity’s improved profitability, strong capital position, and prudent management practices.
