Fidelity Bank Plc has started to raise N75 billion to support small and medium enterprises, retail business as well as investments in technology and infrastructure.
The financial institution is issuing N75 billion Series 1, 10 year Fixed Unsecured subordinated bonds under its N100 billion bond issuance programme.
The offer opened on Monday December 7 and is expected to close on Monday December 14, 2020.
According to market analysts at Afrinvest West Africa, Fidelity Bank Plc is a top Tier-II Bank that has carved a niche in financing the all-important small and medium scale enterprises (SMEs) and select corporate banking businesses with the attendant positive impact on entrepreneurship and employment growth in Nigeria.
Afrinvest West Africa said, “The bank has a digital-led retail strategy that provides its customers with several e-channel service options and a virtual assistant currently ranked the Best in the KPMG 2020 Digital Channels Assessment.
“Fidelity Bank has a strong corporate governance structure and a solid and stable executive management team with robust history of superior financial performance and returns.”
The strong corporate governance and succession plan reflected recently when Mrs. Nneka Onyeali-Ikpe was appointed to take over as managing director/chief executive officer of Fidelity Bank Plc from Mr. Nnamdi Okonkwo, who will retire effective December 31, 2020.
Onyeali-Ikpe last week assured capital market operators and other stakeholders of sustained impressive financial performance by the bank, going forward.