In the ever-volatile landscape of Nigeria’s financial services sector, few institutions have managed to stay as steady—and as quietly determined—as Fidelity Bank Plc. On May 29, 2025, that tenacity was publicly validated when global credit rating agency Fitch Ratings upgraded the bank’s National Long-Term Rating to ‘A+(nga)’, while affirming its Long-Term Issuer Default Rating (IDR) at ‘B’.
It’s a moment of affirmation for an institution that has been methodically laying the groundwork for sustainable growth, even amid currency instability, inflationary pressures, and rising regulatory expectations.
For Dr. Nneka Onyeali-Ikpe, Managing Director and CEO of Fidelity Bank, the news wasn’t just about numbers—it was about people.
“This upgrade by Fitch Ratings affirms the resilience of our business model, the strength of our risk management practices, and our unwavering focus on delivering sustainable value to stakeholders,” she said. “Behind these metrics are hardworking teams and loyal customers who trust in our vision.”
A Strategy That Paid Off
The rating agency pointed to a few key factors: Fidelity’s successful capital raise through a rights issue and public offer, a significant jump in profitability, and one of the healthiest capital buffers in the banking sector.
At the end of 2024, Fidelity’s Fitch Core Capital ratio stood at 29.9%, far exceeding regulatory minimums. The bank has already laid out further capital-raising plans to meet the Central Bank of Nigeria’s ₦500 billion minimum capital threshold for internationally licensed banks by the 2025 deadline.
But the story goes beyond compliance—it’s about trust. Fidelity’s growing base of low-cost current and savings deposits now makes up 93% of its total deposits, one of the strongest ratios in the industry. That level of customer loyalty doesn’t come easy—it’s earned through digital innovation, SME support, and community-rooted banking.
More Than Just a Bank
With a customer base of over 9.1 million, 255 business offices across Nigeria, and a growing international presence through FidBank UK Limited, Fidelity Bank has been pushing quietly but confidently into the future.
Its accolades in recent months tell their own story: “Best Bank for SMEs in Nigeria” by Euromoney, “Excellence in Digital Transformation” by BusinessDay’s BAFI Awards, and “Most Innovative Mobile Banking Application” by Global Business Outlook. Each award underscores the bank’s efforts to meet customers where they are—digitally, physically, and financially.
A Signal to Investors—and the Industry
The Fitch upgrade is likely to encourage investors and further stabilize Fidelity’s reputation among domestic and international partners. But perhaps more importantly, it validates a long-term strategy anchored in resilience, sound governance, and customer-first thinking.
In an industry often dominated by noise and short-term metrics, Fidelity Bank’s measured rise is a reminder that consistent vision, backed by smart execution, still earns its due reward.
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