About 376 employees of Fidelity Bank Plc have been promoted after the conclusion of its annual performance review exercise.
The lender confirmed this promotion via an internal memo to members of staff of the organisation. The workers elevated amount to 12 per cent of the organisation’s workforce, Business Post gathered.
Also, Fidelity Bank announced a 20 per cent increment in the salaries of its total employees, underscoring its management’s deep appreciation for the pivotal role played by staff in recoding the highest growth by percentage volumes in the banking industry with 210 per cent increase in its Profit Before Tax (PBT) which grew from N124.3 billion in 2023 to N385.2 billion in 2024.
Recall that in November 2024, the company embarked on an upward review of workers’ pay, a gesture that reflects the bank’s commitment to staff welfare.
Under the leadership of Mrs Nneka Onyeali-Ikpe, Fidelity Bank has consistently outperformed market expectations. In 2024, the bank recorded the highest share price growth of 116 per cent in the industry following the completion of its Public Offer which was oversubscribed by 238 per cent.
In recognition of the banks stellar performance, global rating agency, Fitch Ratings recently upgraded the bank’s national long-term rating from ‘A(nga)’ to ‘A+(nga)’ in a further endorsement of the bank’s financial strength and prudent management.
The upgraded ratings reflect improved profitability metrics and robust capital buffers, reinforcing the bank’s sustained upward trajectory.