In a decisive move underscoring unwavering confidence in Fidelity Bank Plc’s resilience, Managing Director and CEO, Dr Nneka Onyeali-Ikpe has acquired an additional 18 million shares of the bank, valued at approximately ₦366 million.
According to a regulatory filing posted on the Nigerian Exchange Group (NGX) Disclosures portal, this strategic investment was executed at ₦20.35 per share on 19 May, 2025, the same day an online platform published an unsubstantiated report on a Supreme Court ruling in a decades-long case that the bank inherited from the defunct FSB International Bank that it absorbed in 2005.
Dr Onyeali-Ikpe’s latest acquisition is not an isolated gesture. Between 21 and 22 November, 2024, she purchased 15 million shares worth ₦239.4 million, and subsequently added another 10 million shares valued at ₦157.9 million on 26 and 27 November, 2024. These cumulative investments reflect a consistent pattern of personal commitment to the bank’s long-term success.
Demonstrating Leadership Through Personal Investment
The CEO’s substantial personal investments serve as a powerful testament to her confidence in Fidelity Bank’s strategic direction and financial health. By increasing her stake during a period of legal scrutiny, Dr Onyeali-Ikpe sends a clear message of stability and trust in the institution’s governance and operational integrity.
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Robust Financial Performance Reinforces Investor Confidence
Fidelity Bank’s financial results further validate this confidence. In the first quarter of 2025, the bank reported a Profit Before Tax of ₦105.8 billion, marking a 167.8% increase compared to the same period in 2024. Gross earnings rose by 64.2% year-on-year to ₦315.4 billion, driven by significant growth in interest income and non-interest revenue.
The bank’s balance sheet remains solid, with total deposits increasing by 11.1% year-to-date to ₦6.6 trillion, and net loans and advances growing by 5.0% to ₦4.6 trillion. These figures highlight Fidelity Bank’s strong liquidity position and its capacity to support large-scale projects and absorb financial shocks.
Despite the rash of malicious publications on the bank that has been debunked by the Central Bank of Nigeria (CBN), Fidelity Bank’s share price has demonstrated resilience. After reaching ₦21.00 on 13 May, 2025, the stock experienced a modest decline, closing at ₦20.00, a 3.8% decrease. This stability suggests that investors remain confident in the bank’s fundamentals and leadership.
Dr Nneka Onyeali-Ikpe’s continued investment in Fidelity Bank during a period of legal scrutiny exemplifies strategic leadership and personal commitment. Her actions not only reinforce investor confidence but also underscore the bank’s robust financial standing and resilience. As the institution looks to closing out the legal process as mandated by the court, stakeholders can take solace in the demonstrated strength and stability at the helm of Fidelity Bank.
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