By Aypmide Otitoju
Fidelity Bank Plc has been named the Most Improved Commercial Bank of the Year at the maiden edition of the Nairametrics Capital Market Choice Awards, in recognition of its exceptional financial performance and strategic growth initiatives.
The awards, launched by Nairametrics—Nigeria’s leading financial media platform—aim to celebrate individuals, institutions, and policy reforms that have played pivotal roles in shaping the country’s capital markets. The initiative highlights excellence in key areas such as regulatory leadership, corporate governance, investment performance, and financial innovation.
Commenting on the award, Dr. Nneka Onyeali-Ikpe, Managing Director and Chief Executive Officer of Fidelity Bank, expressed appreciation for the recognition. “This award is a testament to the tremendous work we are doing at Fidelity Bank—not only in delivering superior service to our customers, but also in driving economic growth and creating sustainable value for all stakeholders,” she said.
The award ceremony took place on Friday, May 23, 2025, at the Banquet Hall of the Civic Center in Lagos, and attracted a distinguished audience including Dr. Jumoke Oduwole, Honourable Minister of Industry, Trade and Investment, as well as top regulators, industry leaders, and capital market stakeholders.
In his keynote address, Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), emphasized the importance of innovation and resilience in Nigeria’s capital markets. “Markets must become more efficient, secure, and innovative to fulfill their promise. In Nigeria, we are committed to building a resilient, inclusive, transparent, and future-ready capital market,” he stated.
Ugo Obi-Chukwu, Founder and CEO of Nairametrics, described the awards as a platform to promote values essential to a thriving capital market ecosystem. “The Capital Market Choice Awards is our way of reinforcing the core values that sustain a healthy capital ecosystem—trust, performance, and progress,” he noted.
Fidelity Bank’s recognition comes on the heels of a remarkable financial year in 2024, during which it posted a 210% year-on-year growth in Profit Before Tax (PBT), reaching ₦385.2 billion—the highest such increase recorded in the Nigerian banking sector for the year.
Further solidifying its industry leadership, the bank led the Central Bank of Nigeria’s recapitalization initiative through a highly successful Public Offer and Rights Issue, which were oversubscribed by 237.9% and 137.7% respectively—an indication of strong investor confidence in the bank’s strategy and performance.
Fidelity Bank Plc, a tier-one commercial deposit money bank, serves over 9.1 million customers through a robust network of 255 business offices across Nigeria and its United Kingdom subsidiary, FidBank UK Limited. It is widely regarded for its customer-centric digital banking solutions and strong support for small and medium-sized enterprises (SMEs).
The bank has received numerous accolades in recent years, including the 2024 Excellence in Digital Transformation & MSME Banking Award from the BusinessDay Banks and Financial Institutions (BAFI) Awards, Most Innovative Mobile Banking Application from Global Business Outlook, and Most Innovative Investment Banking Service Provider from Global Brands Magazine. Fidelity Bank was also honoured as the Best Bank for SMEs in Nigeria by Euromoney and as Export Financing Bank of the Year by BAFI.
