First Bank

Wednesday, May 29, 2024

Fidelity Bank gets Highest Corporate Governance Rating on Stock Market

Fidelity Bank Plc complies with the highest corporate governance standards as the leading commercial bank adheres promptly to all full disclosure requirements and global best practices.

Fidelity Bank is awarded CG+, the highest rank under the Corporate Governance Rating System (CGRS), which screens quoted companies against prescribed best practices and standards.

A review of the latest compliance report showed that Fidelity Bank sustains its highest-ranking rating of CG+, with shareholders and market pundits commending the high corporate standards of the bank.

Monday, May 27, 2024

Shareholders Throw Weight behind Fidelity Bank’s Recapitalisation Plan

-Investors delighted with bank’s impressive performance

Shareholders have expressed readiness to massively support and mobilise for the ongoing recapitalisation of Fidelity Bank Plc amid commendations for the impressive performance of the bank over the years.

Shareholders were unanimous that Fidelity Bank has shown strong resilience over the years and demonstrated its investors’ friendliness with significant dividends and capital gains.

Monday, May 20, 2024

Stakeholders to Discuss Customer Service Experience at ACAMB Conference

The Association of Corporate Affairs Managers of Banks (ACAMB) is pleased to announce its third National Stakeholders’ Conference with the theme: Building Bridges: Collaborative Solutions for a Trusted Banking and Financial Services Experience. The conference, where end-to-end customer service issues in Banks and other financial institutions will be explored by top-tier select Speakers and subject experts’ panel, is scheduled for Thursday, May 30th, 2024, at the prestigious Bankers House, CIBN, Adeola Hopewell Street, Victoria Island, Lagos. This conference aims to foster significant dialogue and collaboration within the financial sector.

As the umbrella body for all Corporate and Marketing Communication Professionals working in Deposit Money Banks (DMBs) across Nigeria, ACAMB is dedicated to advancing the interests of its members; the banking community, and that of financial services customers and the Nigerian public at large.

Fidelity Bank Renovates Nasarawa PHC Clinic, Donates Water Facility

As part of its Corporate Social Responsibility (CSR) initiatives, leading financial institution, Fidelity Bank Plc, has renovated the Primary Healthcare Clinic along the Workers Village in the Tudun Amba Community of Lafia Local Government Area of Nasarawa State.

The bank also provided water facilities to ameliorate issues of water scarcity being experienced in the community in recent times.

Speaking at the inauguration ceremony, the Divisional Head, Brand and Communication Plc, Fidelity Bank, Meksley Nwagboh, said the dignity of every human person is a shared responsibility. The bank decided to embark on the project as a means of improving the living condition of people in the community and as part of the bank’s social responsibility to its host community.

Sunday, May 19, 2024

Democratic Republic of Congo army says it stopped attempted coup


The Democratic Republic of Congo's (DRC) armed forces repelled an attempted coup d'etat involving Congolese and foreign fighters on Sunday (May 19) morning, a DRC army spokesman said in a televised address.

Tina Salama, a spokeswoman for President Felix Tshisekedi, also confirmed to Reuters that the presidential palace had been attacked on Sunday morning but the army had retaken control.

Earlier, two guards and an assailant were killed in an attack on the nearby home of Vital Kamerhe, a member of parliament who is tipped to become speaker, Kamerhe's spokesman and the Japanese ambassador said in posts on X.

The United States embassy issued a security alert on Sunday warning of "ongoing activity by DRC security elements" and reports of gunfire in the area.

Friday, May 17, 2024

Court Denies Binance Executive, Tigran Gambaryan Bail

Federal High Court sitting in Abuja has denied the bail application of Tigran Gambaryan, an executive of Binance, a cryptocurrency trading company.

Delivering the ruling on Friday, the presiding judge, Justice Emeka Nwite held that the bail application was rejected after carefully reviewing the document.

Nwite said he resolved that the defendant will jump bail if granted.

Sunday, May 12, 2024

Analysts place “buy” on Fidelity Bank

Highly-rated, independent investment advisory firms have picked Fidelity Bank as a very attractive stock with potential to generate high returns for investors.

Independent investment research reports by many market pundits reviewed at the weekend showed that Fidelity Bank was assigned “buy” ticker, a recommendation to investors to consider the potential attractive returns of the bank.

Saturday, May 11, 2024

AltBank, Sterling One Foundation, Foodbank combat hunger, champion education

The Alternative Bank Limited (AltBank) has announced a strategic collaboration with FoodBank and Sterling One Foundation to raise approximately N20 million in support of hunger alleviation and educational initiatives. This initiative aligns with the theme of the African Union Summit 2024, "Educate and Skill Africa for the 21st Century."

Hassan Yusuf, the Managing Director of The Alternative Bank, unveiled this plan in a press release, highlighting the forthcoming AltWalk event as a pivotal fundraising platform. "Through this initiative, we aim to mobilize contributions from both internal and external stakeholders, reaffirming our commitment to education and societal welfare," stated Yusuf.

Monday, May 6, 2024

Union Bank Achieves Another Milestone; Attains MSECB ISO 27001:2022, 20000-1:2018 and 22301 Certifications


Union Bank, one of Nigeria’s foremost and most trusted financial institutions, has announced another significant achievement with its attainment of the MSECB management system certifications in ISO/IEC 27001:2022, ISO 22301:2019, and ISO/IEC 20000-1:2018. 

The Bank was awarded these three noteworthy certifications by MSECB, a leading international provider of audit and certification services, after being rigorously assessed and found to be in accordance with the management system requirements covering Information Security, IT Service Delivery, and Business Continuity standards under the combined Information Management Systems (IMS) standards.

Thursday, May 2, 2024

Residents across India swelter as intense heatwave breaks records

Residents across India grappled with searing temperatures on Wednesday (May 1) as a record-breaking heatwave scorched parts of the country amid a general election.

Eastern India experienced its hottest April on record as the state of West Bengal recorded the most number of heatwave days for the month in the last 15 years, followed by the neighbouring coastal state of Odisha where heat conditions were the worst in nine years.

"Despite our efforts to keep cool by pouring water on ourselves, and on the ground, nothing is working. We can feel steam rising from the ground," said local resident Bharti Das outside her home in a Kolkata slum.

The weather office said rainfall in May is likely to be normal and that it expects more showers during the second half of the monsoon season in August and September as compared to June and July due to the La Nina climate pattern, which typically brings higher rainfall to India.

Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024

In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1% growth in Profit Before Tax from N17.9bn at the end of Q1 2023 to N39.5bn for Q1 2024. This was made known in the Bank’s unaudited financial statements released on the issuer portal of the Nigerian Exchange (NGX) on Tuesday, 30 April 2024.

According to the statement, Gross Earnings increased by 89.9% yoy to N192.1bn from N101.1bn in Q1 2023. The increase was led by a combination of interest income (90.7% yoy) and non-interest income (84.0% yoy). Growth in interest income was primarily spurred by a higher yield environment and strong earning assets base, while the increase in non-interest income was led by double-digit growth in account maintenance charges, FX-related income, trade, banking services, and remittances, supported by increased customer transactions.