Shareholders of Fidelity Bank Plc have endorsed the payment of a cash dividend of 35 kobo per share to all shareholders whose names appear in the register of members at the close of business on April 22, 2022.
The shareholders who commended the bank’s sterling performance at the 34th Annual General Meeting (AGM) of the bank held in Lagos also among other things authorised the board of directors “to undertake as it deems appropriate and in accordance with applicable laws, any actions, business combinations or transactions, including but not limited to investment, acquisition, restructuring, capital raising, expansion or business arrangement required to secure a competitive advantage for the company.”
The chairman of the Board of Directors, Mustafa Chike-Obi, reassured shareholders that the board and management of the bank would maintain the high corporate governance standard synonymous with Fidelity Bank.
He said, “We will continue to strengthen our enterprise risk management capabilities to ensure the sustainability of our business, while modeling our governance practices to align with international best practice.
“Despite the challenges in the operating environment, we were resolute in the execution of our strategy. We paid particular attention to optimizing our balance sheet and strengthening our risk management structures. We aggressively pursued an automation framework to increase digital footprints and migrate more customers to electronic platforms.”
The bank’s chief executive officer, Mrs. Nneka Onyeali-Ikpe, said the digital banking products gained traction during the year driven by new initiatives in the retail lending segment and increased cross-selling of our digital banking products.
She said, “We now have 56 per cent of our customers enrolled on the mobile/internet banking products from 52.8 per cent in 2020, while 90.0 percent of all customer-induced transactions are now done on digital platforms, with 27.5 per cent of fee-based income coming from electronic banking products. In addition, the total value of our Nigerian Inter-bank Payment (NIP) transactions grew by 71.7 per cent, with our market share improving to 5.0 per cent.”
