Fidelity Bank Extends Onyeali-Ikpe Tenure By Two Years

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Fidelity Bank Plc has extended the tenure of its current GMD/CEO, Nneka Onyeali-Ikpe, from 2024 to 2026.

Company Secretary, Fidelity Bank, Ezinwa Unuigboje in a statement released on the floor of the Nigerian Exchange Limited (NGX), stated that the decision was taken at the Board meeting of February 12, 2024.

According to him, “The extension is in furtherance of the Bank’s strategic objectives and premised on Dr. Nneka Onyeali-Ikpe’s sterling performance since assumption of office on January 1, 2021.

“The Board is confident that the Bank’s performance will continue its upward trajectory under Dr. Onyeali-Ikpe’s leadership and looks forward to working closely with her and the Executive Management Team on the execution of various strategic initiatives including international expansion.”

The extension is in furtherance of the Bank’s strategic objectives and premised on Onyeali-Ikpe’s sterling performance since the assumption of office on January 1, 2021.

Fidelity Bank may have been moved by the milestones recorded during her tenure which has enabled the financial institution to stand among peers.

The lender’s unaudited full-year (FY) 2023 financial statements, reported Gross Earnings growth of 72 per cent to N575.421 billion from N334.966 billion in 2022.

The lender declared N122.06billion profit before tax in 2023, representing an increase of 127.4per cent from N53.68billion in 2022, while its profit after tax (PAT) rose in 2023 to N99.902 billion from N47.165 billion in 2022, up by 112 per cent.

The group declared N6.23 trillion total assets in 2023 from N8.14 trillion reported in 2022, as its net loans and advances rose by 46per cent in 2023 to N3.09trillion, from N2.12trillion in 2022, while its deposits almost doubled in 2023, reaching a new high of N4.049 trillion from N2.591trillion in 2022, up by 56 per cent.

The stock price of Fidelity Bank currently stands at N10.85 per share as of February 15, 2024.

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