admin
Leading up to the recent superlative annual reports showcasing one of the most signi ficant growth experienced by a Nigeria Financial Institution in recent years I was force d to ask “what is Fidelity Bank” doing right?
My banking and financial sector experience got me digging deeper into the statistics of the report-Fidelity Bank recorded a substantial 210.0% growth in PBT, reaching N38 5.2 billion in FY 2024, Deposits increased by 47.9%, from N4.0 trillion in 2023FY to N 5.9 trillion in 2024FY, Gross earnings shooting by 87.7% to N1.043.4 billion which wa s primarily caused by a 106.9% increase in interest and similar income. Was I impress ed? Absolutely
Now to the scary part, they opened the year with a bang implying that 20:25 year end r esults was going to be nothing but spectacular, check this out-Fidelity reported a who oping 167.8% increase in PBT (Profit Before Tax)to N105.8 billion in Q1 2025, compa red to N39.5 billion in Q1 2024. Gross earnings from January to April had reached so me N315,421 billion signaling a 6421% increase year-on-year.
These results were nothing short of astonishing and with great hope I sat my team to review our Investment Strategy to accommodate taking up equities in Fidelity and ad vising our portfolio investors to do same.
We quickly appraised the fundamentals and Key Success Factors to include their foc us on the strategic youth economy that the Creative and Digital Transformation secto promises, the banks bullish inroads in MSME promotion and financing, their glowin g penchant for Gender inclusion without abandoning the core sectors of Mining, Rene wables and other key industries
Then came the dissecting of Leadership, my team of analysts mostly female went on about Fidelity MD being one of the most experienced and affable Amazons in the ind ustry, done this, achieved that and all the entreaties you’d expect from smart ladies w ho feel mentored from a distance. I didn’t hesitate to draw their attention to the experi ence of the menfolk within the organization like I had any measurable data to establi sh that mix truth remains you can’t but admire the Banks Leadership and strides
A deeper look at the banks expansion globally could reveal a strategic and noiseless acquisition of Union Bank London and their planned incursion into African and other European financial markets, you just can see that such daring strides and impact wo uld give competition and detractors sleepless nights. Not in an era where sleeping pill sare sold strictly by prescription and no thanks to the high cost of medication for pedpass, sarakstus MaMe prumun anunanang, wewn g penchant for Gender inclusion without abandoning the core sectors of Mining, Rene wables and other key industries
Then came the dissecting of Leadership, my team of analysts mostly female went on about Fidelity MD being one of the most experienced and affable Amazons in the ind ustry, done this, achieved that and all the entreaties you’d expect from smart ladies w ho feel mentored from a distance. I didn’t hesitate to draw their attention to the experi ence of the menfolk within the organization like I had any measurable data to establi sh that mix truth remains you can’t but admire the Banks Leadership and strides.
A deeper look at the banks expansion globally could reveal a strategic and noiseless acquisition of Union Bank, London and their planned incursion into African and other European financial markets, you just can see that such daring strides and impact wo uld give competition and detractors sleepless nights. Not in an era where sleeping pill sare sold strictly by prescription and no thanks to the high cost of medication for ped diers of cheap propaganda
Within barely 30days of announcing such magnificent results little wonder how pundi ts would cook or spin a narrative to suggest a bank that has announced herself as Fir st Tier with shoulders leveled up with other Banking giants would shudder over a judg ement against her customer G.Cappa or even the contribution they would be required to cough out over that said Sagecom saga. With that judgement not going the way of pundits a contemptuous attempt at calculating interest at unclassified rates from an initial N14b to cause an unnecessary scare or negative press on the bank speaks volu mes of how we unrepentantly strive to destroy value in our economy.
One would think that interpretation of the judgment and computation of due figures which will understandably come with a payment plan be awaited instead of the usua I bad blood generated and envisaged by toddler media characters
It is not in doubt that the discerning public sees through the cruise and flat falling att empt of dramatic clout chasers ever ready to stain Fidelity’s white apparel which savy y Investors and analysts are filled with angal admiration
Like Joseph Campbell hinted in his famous quote “The cave you fear to enter holds t he treasure you seek We cast our treasures and bets on Fidelity Bank as the Nigerian treasure house to beat in the years ahead!
Udeme Etukeyen is an Abuja based Pan African Investment Advisory Expert
