Fidelity Bank Wins ‘Most Improved Commercial Bank’ at Maiden Nairametrics Capital Market Choice Awards

Fidelity Bank Plc, one of Nigeria’s leading financial institutions, has clinched the Most Improved Commercial Bank of the Year award at the inaugural Nairametrics Capital Market Choice Awards, held on Friday, May 23, 2025, at the Banquet Hall of the Civic Center, Lagos.

The prestigious award comes in recognition of the bank’s outstanding financial performance, bold strategic initiatives, and contributions to capital market development in the past year.

A Year of Stellar Growth

Fidelity Bank posted one of the strongest financial performances in the Nigerian banking sector in 2024. The bank recorded an impressive 210% growth in Profit Before Tax (PBT), soaring to ₦385.2 billion. This represents the largest year-on-year PBT growth across the industry, underscoring its rising influence in the financial landscape.

The bank also made headlines with its bold move to support the Central Bank of Nigeria’s recapitalization directive. Its public offer and rights issue were oversubscribed by 237.9% and 137.7% respectively, solidifying its reputation among investors as a trusted and strategically sound institution.

Commenting on the award, Dr. Nneka Onyeali-Ikpe, Managing Director and CEO of Fidelity Bank Plc, said:

“This award is a testament to the tremendous work we are doing at Fidelity Bank—not only in delivering superior service to our customers but also in driving economic growth and creating sustainable value for all stakeholders. We remain committed to helping individuals grow, businesses thrive, and economies prosper.”

The awards ceremony brought together key stakeholders in Nigeria’s financial sector, including Dr. Jumoke Oduwole, Honourable Minister of Industry, Trade and Investment, and Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC).

In his keynote address, Dr. Agama emphasized the importance of resilience and innovation in Nigeria’s evolving capital market, noting that:

“Markets must become more efficient, secure, and innovative to fulfill their promise. In Nigeria, we are committed to building a resilient, inclusive, transparent, and future-ready capital market.”

Elevating Financial Reporting Standards

According to Ugo Obi-Chukwu, Founder and CEO of Nairametrics, the Capital Market Choice Awards were established to recognize excellence in Nigeria’s financial ecosystem, celebrating institutions, individuals, and reforms that promote market integrity, innovation, and performance.

“Our goal with this award platform is to highlight organizations that embody the values of trust, transparency, and progress,” he said. “Fidelity Bank’s performance in 2024 made them a natural choice for the Most Improved Commercial Bank category.”

Driving Innovation and Financial Inclusion

Beyond its financial achievements, Fidelity Bank continues to set itself apart through digital innovation and strong SME support. The bank currently serves over 9.1 million customers through its digital platforms, 255 business offices across Nigeria, and its UK-based subsidiary, FidBank UK Limited.

Fidelity has also garnered multiple awards in recent times, including:

2024 Excellence in Digital Transformation & MSME Banking – BAFI Awards

Most Innovative Mobile Banking Application – Global Business Outlook

Most Innovative Investment Banking Service Provider – Global Brands Magazine

Best Bank for SMEs in Nigeria – Euromoney Awards for Excellence

Export Financing Bank of the Year – BAFI Awards

These accolades reinforce Fidelity’s commitment to creating long-term value and enhancing access to finance for underserved communities.

Fidelity Bank’s recognition at the Nairametrics Awards further cements its status as one of Nigeria’s most dynamic and forward-thinking financial institutions.