By Ayomide Otitoju
Fidelity Bank Plc has announced the promotion of 376 employees, accounting for approximately 12% of its total workforce, following the conclusion of its 2024 annual performance review. The promotions come amid the bank’s record-breaking financial results and ongoing commitment to staff welfare.
In 2024, Fidelity Bank posted a remarkable 210% increase in Profit Before Tax (PBT), rising from ₦124.3 billion in 2023 to ₦385.2 billion—representing the highest percentage growth in the Nigerian banking sector for the period.
The promotions were internally communicated shortly after the bank implemented a 20% salary increase across all staff levels in June 2025. This follows a similar pay adjustment in November 2024.
Under the leadership of Managing Director and CEO, Dr. Nneka Onyeali-Ikpe, Fidelity Bank has consistently surpassed market expectations. The bank recorded a 116% increase in share price in 2024, driven in part by the success of its Public Offer, which was oversubscribed by 238%.
Reinforcing this positive momentum, global credit rating agency Fitch Ratings recently upgraded Fidelity Bank’s National Long-Term Rating from ‘A(nga)’ to ‘A+(nga)’, citing improved profitability and strong capital buffers as key factors.
