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Tag: Fidelity Bank

  • Why we’re funding SMEs, by Fidelity Bank

    Fidelity Bank Plc has reiterated its commitment to  funding Small and Medium Enterprises (SMEs), including operators in the entertainment industry.

    The bank’s Chief Executive Officer, Nnamdi Okonkwo, who disclosed this at the ‘Fidelity SME Forum’ monitored on Inspiration FM, said the lender has strategy for SMEs sector.

    The programme was attended by popular comedian, Atunyota Akporobomerere, whose stage name is Ali Baba.

    Okonkwo said the bank was interested in adding value to the SMEs sector. “For about seven years , our strategy has been to focus on segments. A lot of people get entertained by musicians, they see people in the movie industry and get entertained. But as bankers, we look at the business components of what people do and how to transform those talents into business,” he said.

    “In the past, comedy was like people wearing funny clothes, dressed like clowns and made people laugh. But later, certain people like Ali Baba began to refine things and people realised that you can actually make a living out of comedy. The same thing with music and the movies. In the past, a lot of people did not see the business side of these things”.

    Fidelity Bank, he said, has  the Managed SMEs Unit ensuring that SMEs are supported.

    The lender, he said,  was planning to run a free seminar for operators in the industry.“We have seen superstars go down to penury, from being millionaires and billionaires and we don’t want that to happen to our entertainment industry players. So, that seminar would look at people who succeeded in the past and suddenly became poor because of management of their finances. Whether you are an Ali Baba, a Don Jazzy, P-Square, among others, what matters at the end of the day is how you are going to sustain your brand,” he added.

    Akporobomerere said: “First you must understand that showbiz is dynamic and you are as good as your last joke. So, like in every other kind of business, if you rely on old landmarks, you will lose the footprints of the future”.

    “So, for me, it is that I continue to make sure that I improve myself, I try to get better and that I am never complacent in my career. I try to make sure that I press the refreshal button all the time. For me, it is a case of trying to make sure you understand what the needs are. The current needs are what a practitioner in the entertainment industry should do”.

     

  • Fidelity Bank funds entertainment industry

    Fidelity Bank Plc yesterday reiterated its commitment to  the entertainment industry.

    The bank’s Chief Executive Officer, Nnamdi Okonkwo, who disclosed this at the ‘Fidelity SME Forum’ monitored on Inspiration FM, said the lender has strategy for SMEs sector.

    The programme was attended by popular comedian, Atunyota Akporobomerere, whose stage name is Ali Baba.

    Okonkwo said the bank was interested in adding value to the SMEs sector. “For about seven years , our strategy has been to focus on segments. A lot of people get entertained by musicians, they see people in the movie industry and get entertained. But as bankers, we look at the business components of what people do and how to transform those talents into business,” he said.

    “In the past, comedy was like people wearing funny clothes, dressed like clowns and made people laugh. But later, certain people like Ali Baba began to refine things and people realised that you can actually make a living out of comedy. The same thing with music and the movies. In the past, a lot of people did not see the business side of these things”.

    Fidelity Bank, he said, has  the Managed SMEs Unit ensuring that SMEs are supported.

    The lender, he said,  was planning to run a free seminar for operators in the industry.“We have seen superstars go down to penury, from being millionaires and billionaires and we don’t want that to happen to our entertainment industry players. So, that seminar would look at people who succeeded in the past and suddenly became poor because of management of their finances. Whether you are an Ali Baba, a Don Jazzy, P-Square, among others, what matters at the end of the day is how you are going to sustain your brand,” he added.

    Akporobomerere said: “First you must understand that showbiz is dynamic and you are as good as your last joke. So, like in every other kind of business, if you rely on old landmarks, you will lose the footprints of the future”.

  • Fidelity Bank rewards promo winners

    Fidelity Bank rewards promo winners

    Seven lucky customers won N16 million in the ongoing Fidelity Bank Get Alert in Millions promo held yesterday in Lagos. The cash win brings the total amount received by winners to N49 million in both monthly and quarterly draws of the promo.

    Some of the winners include Johnson Chukwude N5 million star prize; Saminu Sani, N3 million; Toheed Bolaji, N2 million; Oge Mordi, N1 million among others.

    Twelve other lucky winners went home consolation prizes comprising of refrigerators and generators

    Speaking at the event, the bank’s Executive Director, Shared Services, Mrs Chijoke Ugochukwu said  the bank has conducted several draws since September last year during which 72 winners have emerged, winning the sum of N49 million and other consolation prizes.

    She said that the bank has tried to make the draw as transparent as possible, as bank’s staff and members of their immediate families are not allowed to win.

    She said: “We have conducted five draws so far since we started in September 2016. Based on the five monthly draws and one quarterly draws so far 72 winners have emerged all together and a total of N49 million has been given out. Today, we move on to another level of the sixth monthly draw and second quarterly draw”.

    The bank’s Divisional Head Retail Banking, Richard Madiebo, said the promo is a way of thanking consistent and loyal customers. He also said that the promo is also a platform to show their customers the benefit of doing business with the bank. He said that the initiative of the promo right from time was to imbibe the saving culture in Nigerians in other to save for the rainy days.

    “What we do in our promos is just a way of saying thank you to our customers, and  also show the prospects, opportunities aligned with doing business with us.

  • Fidelity Bank reiterates support for SMEs

    Fidelity Bank Plc has pledged commitment to help Small and Medium Scale Enterprises (SMEs) in the Southeast grow its economy.

    Its Managing Director/Chief Executive Officer, Nnamdi Okonkwo, disclosed this during the bank’s customer forum last week. The bank flagged off its nationwide customer engagement programme with Connecting with You as its theme, with the twin events in Owerri and Onitsha.

    Okonkwo, who expressed delight at the level of support and patronage, said the bank also needed to reciprocate by supporting them with finance to grow their businesses.

    He promised to hold a more detailed educative session with businesses and entrepreneurs to help them grow their export businesses as a way of diversifying and solving the foreign exchange challenges.

    “Our people are entrepreneurial in nature and there are plenty of small businesses all over the place.

    “Some have export ideas, but the documentations involved, they do not know. We are going to provide a more structured access to quality information that can help your business,” he told his audience.

    Okonkwo said the lender has disbursed N2.3 billion to 102 customers to support their businesses, saying so far, the loans are doing well.

    “What we appeal to people is to ensure that they always pay back when they receive loans from the bank, so far, our loans are doing well and we do not have incidences of bad loan,” he said.

    Chairman, Board of Directors, Fidelity Bank Plc, Ernest Ebi, who  graced both Owerri andOnitsha events, said the bank had, over the years, become a big bank that cannot be ignored by any serious business concern, and has remained true to helping its customers break new frontiers in business. “We are here to connect with our customers, and let them know that we do not take them for granted, and that we are ready to help them out with their businesses,” he said.

    This sentiment was echoed by the bank’s Executive Director, South, Mrs. Aku Odinkemelu, who said the bank placed a lot  of premium on its customers.

    This, he said, informed the decision to bring executive management and board to meet directly with them with the customer fora.

    “We don’t take our customers for granted. We value your feedback and will use this unique opportunity of engaging directly with you to organise to serve you better,” she promised.

  • ‘Fidelity Bank’s new identity strengthens its transformations’

    ‘Fidelity Bank’s new identity strengthens its transformations’

    The Chef Executive Officer of Fidelity Bank, Mr. Nnamdi Okonkwo has described the banks’s new identify as a reinforcement of its overall transformation.

    He spoke while receiving the eight awards won by the bank’s ‘Tough Job’ campaign at the 2016 Lagos Advertising and Ideas Festival (LAIF).

    ‘Tough Job’ won Silver for Radio, another Silver for Film, a Bronze for Best Use of Production Design & Art Illustration. The Bank’s logo  took home a Bronze in the Radio category.

    Fidelity Bank’s (Our Word) campaign won Bronze in Radio under the Investment & Other Financials products category.  ‘Tough Job’ picked bronze each for “Best Use of Film Editing” and Film prize, under the Bank & Investment category.

    Okonkwo, who dedicated the feat to the bank’s “esteemed customers” said: “To be recognised at LAIF validates the hard work that we have put into the development and execution of our new corporate identity”.

    He added: “The new identity reinforces its overall transformation and also strengthens its focus on the youth segment and overall service excellence. He pointed out that the lender has not only raised the bar in the  customer service delivery but also remains focused on attaining its renewed vision of becoming a vibrant and millennial brand.  We are highly delighted to share this success with our agency, even Interactive, who led the creative effort and worked with us throughout the rebranding process. “

    Produced in Nigeria, the campaign’s multi-dimensional application has been trending on the social media and other platforms. The ‘Tough Job’ campaign brings to the forefront the arduous responsibilities the Bank owes its teeming customers.

  • Fidelity Bank gives N9m to six savings promo winners

    Fidelity Bank gives N9m to six savings promo winners

    Fidelity Bank Plc at the weekend rewarded six of its loyal customers with N9 million cash prizes in its ongoing Get Alert in Millions promo.
    The winners emerged at the fourth draw held in Lagos, where four customers won N1 million each, one customer won N2 million and another N3 million.
    The winners were Baba Ali Yusuf, a customer of the bank’s Maiduguri branch, who won N1 million; Samuel Benjamin Idoroh in Abuja, who also won N1 million; and Bolanle Gbadebo of Ado-Ekiti. Others were Attah Maria Edugwu, in Lagos who won N1 million; Frank Chukwudi Sebastine in Port Harcourt who won N2 million and Ifeanyi Victor who won the star prize of N3 million.
    Speaking at the draw held at the bank’s head office in Lagos, its Executive Director of Shared Services, Fidelity Bank, Mrs. Chijioke Ugochukwu, said the initiative was to improve the financial well-being of customers of the bank.
    “At the draw today, we would be giving out N9 million to six customers. In addition to this, there would be 12 consolation prices of refrigerators and generators, all to be won. It is noteworthy that at the end of this draw, we would have given out a total of N41 million in cash and 48 consolation prices.
    “However, much more importantly, we still have N64 million on the table, waiting for both account holders and prospective customers to win.”
    Prior to yesterday’s draw, the bank executive director said three draws had been conducted since the promo started four months ago and so far, 55 winners had emerged, while a total of N32 million had been won and duly distributed to all the winners.
    “We want to make sure that more people who have interest in this promo are able to participate and get the benefit fully. To demonstrate our commitment to reward our customers, we have started rewarding customers in the second week of the year, with the fourth monthly draw. December last year was a month of bumber alerts in Fidelity Bank and in Nigeria as customers that emerged winners were rewarded,” Ugochukwu said.

  • Fidelity Bank presents prizes to 19 promo winners

    Fidelity Bank presents prizes to 19 promo winners

    Fidelity Bank PLC at the weekend, presented cash and gift prizes to winners that emerged in the first quarter edition of its  Get Alert in Millions Promo draws held in various regions across the country.

    The lucky winners that emerged from a draw witnessed by officials from Consumer Protection Council (CPC) and others went home with different prizes.

    A total of 19 winners had emerged winners of various cash prizes and other consolation prizes including a star prize of N5 million which was won by Salman Umar Musa of the  University of Maiduguri branch.

    Customers that were rewarded with cash prizes for the third promo across the country were Rahama Yenusa Tahir from Maiduguri Branch Borno State, North that won N1 million, Emelie Emmanuel, Iriakari, Lagos, N1 million, Olaide Oladejo, Nsugbe Branch, Southeast, N1 million, Peace Chinenye, Ado- Ekiti Branch, Southwest, N2 million, Ise Iboro, Nakatos Branch, Abuja, N2 million and Sunday Uzo, Benin Branch, Southsouth, N3 million.

  • Fidelity Bank gives N8m to promo winners

    Winners have emerged at the second draw of the ongoing Fidelity Bank’s Get Alert in Millions promo in which six  lucky winners won a total of N8 million cash prizes.

    The draw, held in Lagos, was for customers across the country and saw the emergence of Nse Stephen, the bank’s customer in Lagos and Ismaila Sanni Bello of the northern region emerging as the star prize winners with cash reward of N2 million each.

    Also, Abdulkareem Gaffar (Abuja), Ojo Augustine (South South) and two other customers won N1 million each.

    The bank’s Promo Committee Chairman Obaro Odeghe, said the excercise, which is the sixth in a series, would help to deepen financial inclusion and lift a lot of Nigerians out of poverty. “The success story has been very encouraging and our customers are increasingly becoming aware of this promo,” he said.

    Explaining why some regions were rewarded higher than others, he said: “It shows you the areas where we have witnessed tremendous growth and it is equally good to reward those areas. We are beginning to see increasing patronage from the north, that was why you saw N2 million being won from that region.”

    The bank’s Divisional Head, Retail Banking, Richard Madiebo said the promo is expected to  help lucky winners with cash, just as he urged prospective customers to take advantage of the campaign.

    Speaking during the first draw of the promo, the bank’s Managing Director/CEO, Nnamdi Okonkwo, said: “There is a correlation between savings and economic development. Savings serve as a veritable instrument for capital mobilisation to finance aggregate investment required for economic growth. As an active participant in the Nigerian economy, we are supporting the federal government by making savings available for critical infrastructure deployments that would aid socio-economic development,” he said.

    Okonkwo, who was represented by the bank’s Executive Director, Shared Services and Products, Chijioke Ugochukwu, said: “In all, over 200 winners will emerge inclusive of consolation prizes such as fridges, generators among others.”

  • Fidelity Bank takes ‘Get Alert in Millions’ Promo to trade fair

    Fidelity Bank takes ‘Get Alert in Millions’ Promo to trade fair

    Fidelity Bank PLC informed participants at the just-concluded  Lagos International Trade Fair about its Get Alert in Millions Promo in which many savings account customers have won cash and consolation prizes worth millions of naira.

    At the Fidelity Bank Special Day at the trade fair, its Managing Director/CEO, Nnamdi Okonkwo praised the Board and members of the Lagos Chamber of Commerce and Industry (LCCI) for organising the event which has attracted local and foreign exhibitors.

    He explained that the promo focuses on improving the standard of living of our customers, as the winners pockets are enriched with more cash. He disclosed that the total cash wins expected to be given out at the nine months duration of this promo is N105 million and over 200 consolation prizes such as fridges and generators. The prizes will be given out at monthly and quarterly draws.

    Okonkwo, who was represented by the bank’s Executive Director, Adeyeye Adepegba, said: “Specifically, we have six variants of savings products that cater to the needs of various market segments that the bank focuses on. As such, we organise yearly promos and loyalty schemes to reward our faithful customers and encourage them to imbibe savings culture.”

    The bank also presented loyalty cash rewards to 10 beneficiaries under its loyalty reward scheme, where winners are selected quarterly and over N1.7 billion has been paid in the last 15 months.

    “Apart from the above product offerings, we also have other investments, credit and electronic banking channels tailored to meet your banking needs,’’ he said.

     

     

     

    These services are available at our Stand and at any of our branch locations nationwide,” he said.

    “It has continued to provide an avenue for various trade groups and professionals to showcase new products and ideas as well as tap into the myriads of business opportunities that exist in Nigeria, Africa’s most populous country. As you are aware, the year has continued to offer its fair share of challenges and prospects. In spite of the harsh business environment, Fidelity Bank’s success story is anchored on improved service quality, innovative products and services tailored to meet the varying needs of our numerous customers, which is beyond generic financial intermediation,” he said.

  • Fidelity Bank posts N110.3b gross earnings in Q3

    Fidelity Bank posts N110.3b gross earnings in Q3

    •New chair named

    Fidelity Bank Plc has recorded gross earnings of N110.3 billion in its unaudited financial results for nine months ended September 30. The figure was an increase from the N107 billion, representing a growth of 3.0 per cent during the previous year.

    The lender also grew its deposit base by 3.4 per cent to N795.6 billion from N769.6 billion recorded in last year’s result.

    Its Managing Director/CEO, Nnamdi Okonkwo said the lender’s performance was a reflective of the recessionary economy characterised by lower government revenues, rising inflation, lower consumer disposable income, significantly tougher operating environment in the country.

    “We continued with the disciplined execution of our medium term strategy and recorded decent growth on some key operational metrics while moderating the impact of the headwinds above on other financial indices,” he said.

    However, the bank’s Profit Before Tax (PBT) dropped by 28.7 per cent to N9.8 billion from N13.8 billion in the period under review.

    Okonkwo said the PBT declined largely due to “a 102.0 per cent year-on-year growth in impairment charge to N4 billion driven significantly by increased provisions made in the second and third quarters of the year.

    He said N1.3 billion decline in dividend income on equity investments as well as a 8.9 per cent growth in operating expense were responsible for the decline in profit. According to him, growth in operating expenses was driven essentially by increased technology and advert costs. On a quarterly basis, he stated that gross earnings grew by 10.7 per cent to N39.9 billion driven by a 22.6 per cent growth in interest income. He said there was a N5.4 billion growth in interest income on loans while interest income on liquid assets increased by 13.5 per cent to N0.9 billion for the quarter.

    “The increased yields on earning assets were driven by the re-pricing of the loan book and higher yields on liquid assets. Deposits grew by 3.4 per cent to N26 billion from December 2015,” he explained.

    Meanwhile, the lender yesterday announced the appointment of Ernest Ebi as a non-Executive Director and Chairman Designate of the Board of Directors. This follows the retirement of the chairman of the bank, Chief  Christopher Ezeh who, after over 11 years of meritorious service to the bank retired, having attained the retirement age for non-executive directors in line with the bank’s policy.