Fitch updates the national evaluation of Fidelity Bank a ‘A+(NGA)’ …

The global credit rating agency, Fitch Ratings, said the predefined rating (IDR) of the long -term broadcaster of Fidelity Bank Plc A “B” and has updated its national long -term rating to “A+(NGA)” from “A (NGA)”.

The update, announced on May 29, 2025, reflects the bank’s strengthened capital buffers and better profitability, reporting a continuous positive momentum of its services.

According to Fitch, the updating of the assessments is supported by the capital increase of Fidelity Bank through a question of rights and a public offer, as well as by a considerable improvement in profitability, based by an income from higher interests and a stable base of current deposits and low -cost savings.

Commenting on the announcement, the CEO/CEO of Fidelity Bank, Dr. Nneka Onyeali-Ikpe, said: “This update from Fitch Ratings affirms the resilience of our business model, the strength of our risk management practices and our unrelated unexpected Nigeria customer.

One of the key rating drivers improved is the robust capitalization of the bank. Fitch reports that Fitch Core Capital (FCC) report rises 29.9% at the end of 2024, is above all above the minimum regulatory. The agency has also observed that further capital collection efforts should position the bank to meet the minimum capital requirement of 500 billion ₦ for international authorized banks before the 2025 expiry.

The positioning of the Fidelity Bank market remains strong. As a sixth Banca della Nigeria, he commands about 5% of the total banking sector activities. The bank’s budget is strengthened by a high percentage of low -cost deposits, which represented 93% of the total deposits starting from the beginning of 2024, among the highest in the Nigerian banking sector.

Fitch’s statement and updating should improve investors’ trust and support Fidelity’s continuous efforts to reduce his operations both locally and internationally.

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