Aduragbemi Omiyale
By Aduragbemi Omiyale
An ESG score of 2 has been assigned to Fidelity Bank Plc by a local reputable rating agency, Agusto & Co, after affirming that environmental, social and governance (ESG) issues have minimal contribution to the bank’s credit rating.
In a statement, the pan-African credit rating company also affirmed Fidelity Bank’s ‘A’ rating with a stable outlook.
It explained that the rating was affirmed because of the lender’s “improved profitability, strong ability to refinance, adequate capitalisation and low level of impaired credits.”
Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 7.5 million customers serviced across its 250 business offices and digital banking channels.
The bank was recognized as the Best Payment Solutions Provider, Nigeria, 2023 and Best SME Bank, Nigeria, 2022 by the Global Banking and Finance Awards.
It had previously also won awards for the Fastest Growing Bank and MSME & Entrepreneurship Financing Bank of the Year at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
The tier-2 financial institution has not hidden its intention to play in the tier-1 territory and rub shoulders with the big boys like Zenith Bank, Access Bank, GTBank, UBA, and First Bank, collectively christened ZAGUF by Business Post.
