Banking
Fitch Affirms Fidelity Bank at ‘B-‘, Gets Positive Reviews
By Dipo Olowookere
Nigerian medium-sized lender, Fidelity Bank Plc, has had its Long-Term Issuer Default Rating (IDR) rating affirmed by Fitch Ratings at ‘B-‘ with the outlook stable.
Fitch said in a statement that the bank’s Viability Rating (VR) has been also affirmed at ‘b-‘ and Support Rating at ‘5’, while its National Ratings were also confirmed.
Fidelity Bank is a financial institution with a market share of around 4%-5% of domestic loans and deposits. Its small franchise limits the size and scope of business it can undertake and the bank has developed a niche focus on selected corporate business sectors and relatively underbanked sectors, such as the financing of SMEs. Fidelity Bank operates solely in Nigeria.
Lending to SMEs in Nigeria requires more flexible underwriting standards to address their limitations and underwriting standards are adapted to meet the needs of the bank’s niche customer base.
Despite a focus on SMEs, Fidelity Bank’s impaired loans/total loans ratios (5.9% at end-September 2017) are broadly in line with the average for rated second-tier Nigerian banks (around 6.5%). Asset quality trends are favourable, reflecting loan restructuring and some recoveries in 2017. The sustainability of this trend will become clear over time.
Fidelity Bank’s earnings and profitability ratios are in line with the sector averages although performance metrics for second-tier banks vary considerably. There were some positive earnings developments in 2017.
Margins are improving, loan impairment charges are reducing as a percentage of pre-impairment operating profit and investments in technology are helping to improve cost/income ratios.
Fidelity Bank’s funding profile is fairly typical of a smaller Nigerian bank. Franchise limitations make deposit collection more difficult and Fidelity’s loans/deposit ratio hovers around 100%. Depositor concentrations are fairly high, with the top 10 deposits typically representing about 13% of total customer deposits. Low-cost demand and savings deposits represent around 75% of customer deposits, which is positive. Naira liquidity ratios are at levels that are marginally above the 30% regulatory minimum.
Access to foreign currency (FC) was particularly tight for Nigerian banks in 2016 but the bank did not delay any payments on its FC trade-related and bank obligations, even at the height of the liquidity squeeze.
The FC liquidity situation eased in Nigeria throughout 2017 and in October Fidelity Bank raised a senior five-year $400 million bond on the international capital markets. This has eased the bank’s FC liquidity position. Funds raised were partly used to repay $256 million of a $300 million Eurobond bond originally maturing in May 2018.
Loan loss cover ratios (68% at end-September 2017) are slightly lower than peer averages (75% – 80%).
Fidelity Bank meets minimum 15% capital ratios requirements, but the bank’s ability to withstand even moderate shocks may be limited considering below average loan-loss cover ratios, high single name concentrations and potential asset-quality deterioration.
Fidelity Bank’s National Long-Term Ratings reflect its creditworthiness relative to the country’s best credit and to peers operating in Nigeria.
Fidelity Bank’s senior unsecured bonds are rated in line with the bank’s IDRs. In our view, the likelihood of default on these notes reflects the likelihood of default of the bank. The Recovery Rating (RR) assigned to these bonds is ‘RR4’, indicting average recovery prospects.
Fitch believes that sovereign support to Nigerian banks cannot be relied on given Nigeria’s (B+/Negative) weak ability to provide support, particularly in FC. In addition, there are no clear messages from the authorities regarding their willingness to support the banking system. Therefore, the Support Rating Floor (SRF) of all Nigerian banks is ‘No Floor’ and all Support Ratings (SR) are ‘5’. This reflects our view that senior creditors cannot rely on receiving full and timely extraordinary support from the Nigerian sovereign if any of the banks become non-viable.
Banking
Fidelity Bank Plans Gele Masterclass for Women March 30
By Modupe Gbadeyanka
On Monday, March 30, 2026, Fidelity Bank Plc will host a Gele Masterclass to help women build practical, income-generating skills, strengthen professional visibility, and accelerate career growth.
This event will be the second part of a series of masterclasses and support initiatives planned for March 2026 in commemoration of International Women’s Day under the theme Give to Gain.
On March 18, 2026, the lender, through its women-focused proposition, HerFidelity, hosted a masterclass on communication and presentation.
The session offered practical guidance on audience engagement, event moderation, confidence-building, and personal branding, with a strong focus on women looking to improve their public speaking and professional presence.
HerFidelity is positioning the session as a celebration of cultural expression and a marketable skill women can turn into a source of income.
In addition to the masterclasses, the bank will provide professional headshot sessions to help participants update their personal and professional profiles.
“At Fidelity Bank, we believe that empowering women economically creates an impact that extends beyond the individual. It strengthens families, grows businesses, and uplifts communities. That is why we have designed an elaborate plan to upskill women throughout this month.
“We want women to leave these sessions with practical tools they can apply immediately, whether that is speaking confidently in public, building a stronger personal brand, or learning a skill that can generate income,” the Divisional Head of Small and Medium-scale Enterprises Banking at Fidelity Bank, Ms Ugochi Osinigwe, said.
Earlier this month, the bank reaffirmed its commitment to women’s economic empowerment with the signing of strategic MoUs with partner organisations at the launch of its Give Her Power initiative on March 5, 2026.
The collaborations, anchored on the bank’s HerFidelity Apprenticeship Programme, are designed to expand access to vocational training, business support, and sustainable enterprise opportunities for women across multiple sectors.
As part of the initiative, Fidelity Bank is distributing 1,000 sewing and grinding machines to empower women-led microbusinesses across Nigeria.
Banking
UBA, NiDCOM to Unlock Diaspora Capital for Nigeria’s Growth
By Modupe Gbadeyanka
A partnership aimed to unlock diaspora capital for Nigeria’s growth has been deepened by the United Bank for Africa (UBA) Plc and the Nigerians in Diaspora Commission (NiDCOM).
The chief executive of UBA, Mr Oliver Alawuba, underscored the diaspora’s critical role as a powerful economic force and a generation of builders shaping new narratives for the continent.
He also reiterated the financial institution’s readiness to leverage its global network and innovative financial solutions to support diaspora engagement, urging Nigerians abroad to tap into opportunities within Africa’s economic landscape.
“You are not limited here; you have opportunities on the continent, and we want you to make good use of them. That is where banking, and we at UBA, become the connecting point that you need to access the opportunities back home.
“Whether you like it or not, the returns are high in Africa, and we are here to help you navigate that space,” the UBA chief said on Monday when he hosted key representatives of NiDCOM led by its chairman, Mrs Abike Dabiri, at the bank’s office in the United Kingdom.
UBA recently launched a Diaspora Banking platform to provide a seamless, integrated platform for Africans in the diaspora to bank, invest, and manage their financial obligations back home, thus connecting global Africans with investment and wealth opportunities.
The lender introduced the platform, with leading ecosystem partners representing a major step in redefining diaspora banking beyond remittances toward structured wealth creation and long-term investment.
“With UBA, you have a financial partner that is with you, that understands what you are going through, and that can support you to make sure you realise your aspirations, both here and in the country,” Mr Alawuba noted.
In her remarks, Mrs Dabiri-Erewa praised UBA for being a trusted financial partner over the years, especially with the recent launch of its diaspora platform.
“Many of you here are the real game-changers. “For years, it has been wonderful engaging Nigerians all over the world. When I started, it felt like we only heard the bad stories, not the good ones. What we have tried to do internationally is to tell and celebrate the good stories. We have Nigerians doing well all over the world, and they are in this room. We must continue to celebrate you,” she stated.
While remarking that the meeting demonstrates a significant step in aligning public and private sector efforts to deepen diaspora inclusion and accelerate Nigeria’s development agenda, she pledged closer collaboration in driving policies and initiatives that encourage Nigerians abroad to actively participate in the country’s economic growth.
Banking
Ecobank’s Enhanced Ellevate Initiative Excites Women Entrepreneurs
By Modupe Gbadeyanka
The launch of the Enhanced Ecobank Ellevate Proposition (Ellevate 2.0) in Lagos has been welcomed by women entrepreneurs.
Ecobank Nigeria, a subsidiary of the pan‑African financial services group Ecobank Group, unveiled the upgraded programme at an event themed Her Voice. Her Power. Her Growth. The initiative was designed to support women‑owned businesses.
The gathering featured inspiring conversations and practical insights from accomplished women in business and professional leadership.
In her keynote address titled The True Woman Power: Strength Rooted in Identity, Resilience and Purpose, the founder of Gatimo Limited and Creative Director of Ruff ‘n’ Tumble, Mrs Adenike Ogunlesi, praised Ecobank for its longstanding support for women entrepreneurs.
“When I was seeking a loan facility many years ago to grow my business, Ecobank was the institution that supported me when others turned me down,” she shared, encouraging women to embrace self-awareness, resilience, and purpose as the drivers of long‑term success.
The panel session featured the chief executive of Strata Advisory, Ms Bode Abifarin; the chief executive of Village Farms Commerce and Exchange, Ms Titilayo Adesoga; and the founder of Beaty Hut Africa, Ms Subuola Oyeleye, who each shared powerful reflections from their personal and professional journeys.
Drawing from her extensive leadership background, Ms Abifarin highlighted the need for women to own their transitions and step confidently into new seasons.
On her part, Ms Adesoga encouraged women to rise above limitations by taking ownership of their personal and business narratives, as Ms Oyeleye highlighted the importance of authenticity, innovation, and investing in quality, reinforcing that women can build globally competitive businesses from Nigeria.
In her welcome speech, the Head of Premier Banking and Wealth Management at Ecobank Nigeria, Ms Ayo Osolake, who represented the Managing Director/Regional Executive, Mr Bolaji Lawal, said, “Ellevate by Ecobank reflects our unwavering commitment to supporting women entrepreneurs, who remain key drivers of economic growth, innovation, and job creation.”
Ellevate Manager for Ecobank Nigeria, Ms Victoria Igun, said, “This enhanced proposition creates stronger pathways for women entrepreneurs and professionals to build sustainable businesses and translate ambition into lasting impact.”
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